Columbia Sportswear Q3 2024 10-Q Filing

TL;DR

Columbia Sportswear's Q3 2024 10-Q is in. Check financials.

AI Summary

Columbia Sportswear Company filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the apparel and footwear industry.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Columbia Sportswear, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• COLUMBIA SPORTSWEAR CO (company) — Filer
• 20240930 (date) — Period of Report
• 20241107 (date) — Filing Date
• PORTLAND (location) — Business Address City
• OR (location) — Business Address State

FAQ

Key Financial Figures

• $1.2 million — respectively, and was $ 0.7 million and $1.2 million for the nine months ended September 30,

Filing Documents

• colm-20240930.htm (10-Q) — 1765KB
• colmfy24q310qexhibit311.htm (EX-31.1) — 11KB
• colmfy24q310qexhibit312.htm (EX-31.2) — 9KB
• colmfy24q310qexhibit321.htm (EX-32.1) — 4KB
• colmfy24q310qexhibit322.htm (EX-32.2) — 4KB
• colm-20240930_g1.jpg (GRAPHIC) — 212KB
• 0001050797-24-000146.txt ( ) — 7728KB
• colm-20240930.xsd (EX-101.SCH) — 27KB
• colm-20240930_cal.xml (EX-101.CAL) — 51KB
• colm-20240930_def.xml (EX-101.DEF) — 146KB
• colm-20240930_lab.xml (EX-101.LAB) — 459KB
• colm-20240930_pre.xml (EX-101.PRE) — 317KB
• colm-20240930_htm.xml (XML) — 1381KB

— 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) 7

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 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 35

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Other Information 48

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 48

Signatures

Signatures 49 COLUMBIA SPORTSWEAR COMPANY | Q3 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, our utilization of temporary clearance locations, storage and processing capacity, inventory levels and timing of inventory receipt, inventory carrying costs, shipment timing, consumer and customer spending and preferences, the performance of our various sales channels, freight charges, scale efficiencies, inflationary pressures, foreign currency translation, the performance of our international businesses, 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 and the Columbia brand ACCELERATE Growth Strategy, 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

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) September 30, 2024 December 31, 2023 September 30, 2023 ASSETS Current Assets: Cash and cash equivalents $ 306,680 $ 350,319 $ 213,282 Short-term investments 67,244 414,185 1,474 Accounts receivable, net of allowance of $ 6,464 , $ 5,450 and $ 6,659 , respectively 581,738 423,079 686,821 Inventories 798,153 746,288 885,163 Prepaid expenses and other current assets 72,443 80,814 96,016 Total current assets 1,826,258 2,014,685 1,882,756 Property, plant and equipment, net of accumulated depreciation of $ 707,272 , $ 671,930 and $ 653,545 , respectively 284,963 287,281 283,095 Operating lease right-of-use assets 370,844 357,295 339,538 Intangible assets, net 79,221 79,908 80,321 Goodwill 26,694 26,694 51,694 Deferred income taxes 103,757 105,574 89,801 Other non-current assets 69,003 67,576 71,738 Total assets $ 2,760,740 $ 2,939,013 $ 2,798,943 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 221,714 $ 235,927 $ 162,222 Accrued liabilities 266,161 272,058 283,799 Operating lease liabilities 72,968 71,086 72,685 Income taxes payable 6,097 17,556 7,254 Total current liabilities 566,940 596,627 525,960 Non-current operating lease liabilities 348,786 336,772 323,508 Income taxes payable 14,607 25,688 24,218 Deferred income taxes 67 66 — Other long-term liabilities 42,868 41,250 29,946 Total liabilities 973,268 1,000,403 903,632 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; 57,261 , 59,996 and 60,526 issued and outstanding, respectively — — — Retained earnings 1,836,910 1,984,446 1,942,709 Accumulated other comprehensive loss ( 49,438 ) ( 45,836 ) ( 47,398 ) Total shareholders' equity 1,787,472 1,938,610 1,895,311 Total liabilities and shareholders' equity $ 2,760,740 $ 2,939,01

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View this 10-Q filing on SEC EDGAR