Columbia Sportswear Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Columbia Sportswear Co. filed its Q1 2024 10-Q, detailing segment and geographic financial performance.</b>

AI Summary

COLUMBIA SPORTSWEAR CO (COLM) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Columbia Sportswear Co. reported financial results for the first quarter ended March 31, 2024. The filing includes data for various segments, including Apparel, Accessories & Equipment, and Footwear. Geographic segment data is provided for the U.S., Canada, EMEA, and Latin America & Asia Pacific. Sales channel data is broken down into sales through intermediaries and direct-to-consumer channels. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking COLUMBIA SPORTSWEAR CO, this filing contains several important signals. This filing provides investors with a detailed look at Columbia Sportswear's performance across different product categories and regions for the first quarter of 2024. Understanding the breakdown by sales channel (intermediary vs. direct-to-consumer) and geographic region is crucial for assessing the company's market penetration and growth strategies.

Risk Assessment

Risk Level: low — COLUMBIA SPORTSWEAR CO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Monitor future filings for trends in specific product segments and geographic regions to identify areas of growth or concern.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly Report)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2023-03-31 — Prior Year Q1 End Date (Comparison Period)
• 2023-01-01 — Prior Year Q1 Start Date (Comparison Period)

Key Players & Entities

• COLUMBIA SPORTSWEAR CO (company) — Filer
• COLM (company) — Ticker Symbol
• 2024-03-31 (date) — Period of Report
• 2024-05-02 (date) — Filed As Of Date
• OR (location) — State of Incorporation
• 97229 (postal_code) — Business Address Zip
• 503 985 4000 (phone_number) — Business Phone

FAQ

Industry Context

Columbia Sportswear Co. operates in the apparel and footwear industry, a sector influenced by consumer spending, fashion trends, and global supply chain dynamics.

Regulatory Implications

As a publicly traded company, Columbia Sportswear Co. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) detailing financial performance and business operations.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance (Apparel, Footwear) for growth trends.
3. Compare Q1 2024 results against Q1 2023 to identify year-over-year changes.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-02: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for the fiscal year 2024, providing an update on the company's financial position and operational performance compared to previous periods.

Filing Documents

• colm-20240331.htm (10-Q) — 1339KB
• exhibit101.htm (EX-10.1) — 80KB
• exhibit102.htm (EX-10.2) — 81KB
• exhibit103.htm (EX-10.3) — 77KB
• exhibit104.htm (EX-10.4) — 79KB
• colmfy24q110qexhibit311.htm (EX-31.1) — 11KB
• colmfy24q110qexhibit312.htm (EX-31.2) — 9KB
• colmfy24q110qexhibit321.htm (EX-32.1) — 4KB
• colmfy24q110qexhibit322.htm (EX-32.2) — 4KB
• colm-20240331_g1.jpg (GRAPHIC) — 212KB
• 0001050797-24-000071.txt (&nbsp;) — 7037KB
• colm-20240331.xsd (EX-101.SCH) — 26KB
• colm-20240331_cal.xml (EX-101.CAL) — 50KB
• colm-20240331_def.xml (EX-101.DEF) — 139KB
• colm-20240331_lab.xml (EX-101.LAB) — 451KB
• colm-20240331_pre.xml (EX-101.PRE) — 311KB
• colm-20240331_htm.xml (XML) — 1070KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Operations (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 3 Condensed Consolidated Statements of Cash Flows (Unaudited) 4 Condensed Consolidated Statements of Equity (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 28

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Other Information 40

Item 5. Other Information 40

Exhibits

Item 6. Exhibits 40

Signatures

Signatures 41 COLUMBIA SPORTSWEAR COMPANY | Q1 2024 FORM 10-Q Table of Contents SPECIAL NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements often use words such as "will", "anticipate", "estimate", "expect", "should", "may", "believe" and other words and terms of similar meaning or reference future dates. Forward-looking statements include any statements related to our expectations regarding the effectiveness of our investments, future performance or market position, the promotional environment, storage and processing capacity, inventory levels, inventory carrying costs, shipment timing, consumer and customer spending and preferences, freight charges, scale efficiencies, inflationary pressures, foreign currency translation, the geopolitical environment, consumer and customer behaviors and expectations, the regulatory environment, the impact of seasonal trends, materiality of legal matters, risk management strategies, the performance of our profit improvement program, capital expenditures, our short and long-term cash needs and our ability to meet those needs, amortization expenses, and maturities of liabilities. These forward-looking statements, and others we make from time to time expressed in good faith, are believed to have a reasonable basis; however, each forward-looking statement involves risks and uncertainties. Many factors may cause actual results to differ materially from projected results in forward-looking statements, including the risks described in Part II, Item 1A of this Quarterly Report on Form 10-Q. Forward-looking statements are inherently less reliable than historical information. Except as required by law, we do not undertake any duty to update forward-looking statements after the date they are made or to conform them to actual results or to changes in circumstances or to reflect changes in events, circumstances or expectations. New factors emerge from time to time and it is not possible for us to predict or a

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) March 31, 2024 December 31, 2023 March 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 418,462 $ 350,319 $ 361,049 Short-term investments 369,270 414,185 99,511 Accounts receivable, net of allowance of $ 6,260 , $ 5,450 and $ 5,200 , respectively 366,375 423,079 466,690 Inventories 607,373 746,288 959,234 Prepaid expenses and other current assets 84,738 80,814 100,880 Total current assets 1,846,218 2,014,685 1,987,364 Property, plant and equipment, net of accumulated depreciation of $ 681,497 , $ 671,929 and $ 635,256 , respectively 277,947 287,281 282,921 Operating lease right-of-use assets 361,103 357,295 318,728 Intangible assets, net 79,496 79,908 81,146 Goodwill 26,694 26,694 51,694 Deferred income taxes 100,162 105,574 96,865 Other non-current assets 70,611 67,576 70,256 Total assets $ 2,762,231 $ 2,939,013 $ 2,888,974 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 150,131 $ 235,927 $ 220,231 Accrued liabilities 216,903 272,058 271,625 Operating lease liabilities 71,550 71,086 69,452 Income taxes payable 8,722 17,556 7,377 Total current liabilities 447,306 596,627 568,685 Non-current operating lease liabilities 340,310 336,772 303,571 Income taxes payable 26,262 25,688 33,765 Deferred income taxes — 66 146 Other long-term liabilities 38,910 41,250 35,022 Total liabilities 852,788 1,000,403 941,189 Commitments and contingencies (Note 4) Shareholders' Equity: Preferred stock; 10,000 shares authorized; none issued and outstanding — — — Common stock (no par value); 250,000 shares authorized; 59,473 , 59,996 and 62,076 issued and outstanding, respectively — — 1,076 Retained earnings 1,960,634 1,984,446 1,981,287 Accumulated other comprehensive income (loss) ( 51,191 ) ( 45,836 ) ( 34,578 ) Total shareholders' equity 1,909,443 1,938,610 1,947,785 Total liabilities and shareholders' equity $ 2,762,231 $

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View this 10-Q filing on SEC EDGAR