Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest

v3.5.0.2
Non-Controlling Interest
 9 Months Ended
Sep. 30, 2016
Noncontrolling Interest [Abstract]  
Non-controlling Interest
NON-CONTROLLING INTEREST
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Limited ("Swire") to support the development and operation of the Company's business in China. The joint venture began operations on January 1, 2014. The accounts of the joint venture are included in the condensed consolidated financial statements. Swire's share of net income from the joint venture is included in net income attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015. The 40% non-controlling equity interest in this entity is included in total equity as non-controlling interest in the Condensed Consolidated Balance Sheets as of September 30, 2016 and 2015, and December 31, 2015.
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2016 (in thousands, except per share amounts):
 
 
Columbia Sportswear Company
 
Non-Controlling Interest
 
Total
Balance at December 31, 2015
 
$
1,399,800

 
$
16,013

 
$
1,415,813

Net income
 
107,183

 
5,690

 
112,873

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding losses on available-for-sale securities
 
(2
)
 
—

 
(2
)
Derivative holding gains (losses)
 
(9,078
)
 
53

 
(9,025
)
Foreign currency translation adjustments
 
22,982

 
(756
)
 
22,226

Cash dividends ($0.51 per share)
 
(35,548
)
 
—

 
(35,548
)
Issuance of common stock under employee stock plans, net
 
5,872

 
—

 
5,872

Stock-based compensation expense
 
8,454

 
—

 
8,454

Repurchase of common stock
 
(11
)
 
—

 
(11
)
Balance at September 30, 2016
 
$
1,499,652

 
$
21,000

 
$
1,520,652


The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2015 (in thousands, except per share amounts):
 
 
Columbia Sportswear Company
 
Non-Controlling Interest
 
Total
Balance at December 31, 2014
 
$
1,343,603

 
$
11,631

 
$
1,355,234

Net income
 
110,987

 
4,068

 
115,055

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding losses on available-for-sale securities
 
(6
)
 
—

 
(6
)
Derivative holding losses
 
(4,947
)
 
—

 
(4,947
)
Foreign currency translation adjustments
 
(25,742
)
 
(572
)
 
(26,314
)
Cash dividends ($0.45 per share)
 
(31,667
)
 
—

 
(31,667
)
Issuance of common stock under employee stock plans, net
 
12,268

 
—

 
12,268

Tax adjustment from stock plans
 
7,695

 
—

 
7,695

Stock-based compensation expense
 
8,731

 
—

 
8,731

Repurchase of common stock
 
(14,525
)
 
—

 
(14,525
)
Balance at September 30, 2015
 
$
1,406,397

 
$
15,127

 
$
1,421,524