3 unchanged sentences
At February 11, 2022, we had 262 shareholders of record, although we have a much larger number of beneficial owners, whose shares of record are held by banks, brokers and other financial institutions
+Added: Our current dividend policy is dependent on our earnings, capital requirements, financial condition, restrictions imposed by our credit agreements, and other factors considered relevant by our Board of Directors.
Quarterly dividends on our common stock, when declared by our Board of Directors, are paid in March, May, August, and November.
−Removed: In March 2020, our Board of Directors suspended quarterly dividend payments as part of a broader capital preservation effort during the ongoing COVID-19 pandemic.
−Removed: Based on the strength of our balance sheet and confidence in our earnings recovery and long-term growth trajectory, our Board of Directors approved a regular quarterly cash dividend of $0.26 per share, payable on March 22, 2021 to shareholders of record on March 9, 2021.
+Added: Our Board of Directors approved a quarterly cash dividend of $0.30 per share, payable on March 21, 2022 to shareholders of record on March 11, 2022.
PERFORMANCE GRAPH
−Removed: The line graph below compares the cumulative total shareholder return of our common stock with the cumulative total return of the Russell 1000 Index and Russell 1000 Textiles Apparel & Shoes Index for the period beginning December 31, 2015 and ending December 31, 2020.
+Added: The line graph below compares the cumulative total shareholder return of our common stock with the cumulative total return of the Russell 1000 Index and Russell 1000 Textiles Apparel and Shoes Index for the period beginning December 31, 2016 and ending December 31, 2021.
The graph and table assume that $100 was invested on December 31, 2016, and that any dividends were reinvested.
Historical stock price performance should not be relied on as indicative of future stock price performance.
+Added: COLUMBIA SPORTSWEAR COMPANY | 2021 FORM 10-K | 20
+Added: Total Return Analysis
+Added: Year Ended December 31,
2016 2017 2018 2019 2020 2021
1 unchanged sentence
Russell 1000 Index $ 100.00 $ 121.69 $ 115.87 $ 152.28 $ 184.20 $ 232.93
−Removed: Russell 1000 Textiles Apparel & Shoes Index $100.00 $87.13 $107.64 $110.65 $151.70 $189.19
+Added: Russell 1000 Textiles Apparel and Shoes Index $ 100.00 $ 123.55 $ 126.99 $ 174.11 $ 217.14 $ 240.70
ISSUER PURCHASES OF EQUITY SECURITIES
Since the inception of our share repurchase program in 2004 through December 31, 2021, our Board of Directors has authorized the repurchase of $1.5 billion of our common stock.
−Removed: Shares of our common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions.
+Added: Shares of our common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions, and generally settle subsequent to the trade date.
The repurchase program does not obligate us to acquire any specific number of shares or to acquire shares over any specified period of time.
−Removed: Under this program as of December 31, 2020, we have repurchased 26.8 million shares at an aggregate purchase price of $1,017.8 million, and have $82.2 million remaining available.
−Removed: In March 2020, we suspended future share repurchases as part of a broader capital preservation effort during the ongoing COVID-19 pandemic.
−Removed: We did not repurchase any shares or common stock during the fourth quarter of 2020.
−Removed: In 2021, we have reinstated our historical capital allocation strategy, which includes share repurchases.
−Removed: At its regular board meeting in January 2021, our Board of Directors approved an additional $400.0 million share repurchase authorization.
−Removed: SELECTED FINANCIAL DATA
−Removed: Selected Consolidated Financial Data
−Removed: The selected consolidated financial data presented below for, and as of the end of, each of the years in the five-year period ended December 31, 2020 have been derived from our audited Consolidated Financial Statements.
−Removed: The selected consolidated financial data should be read in conjunction with the Item 7 and Item 8 of this annual report.
−Removed: (in thousands, except per share amounts) 2020 2019 2018 2017 2016
−Removed: Statement of Operations Data:
−Removed: Net sales $ 2,501,554 $3,042,478 $ 2,802,326 $ 2,466,105 $ 2,377,045
−Removed: Gross profit 1,223,889 1,515,670 1,386,348 1,159,962 1,110,348
−Removed: Gross margin 48.9 % 49.8 % 49.5 % 47.0 % 46.7 %
−Removed: Income from operations 137,049 394,971 350,982 262,969 256,508
−Removed: Net income attributable to Columbia Sportswear Company (1)
−Removed: 108,013 330,489 268,256 105,123 191,898
−Removed: Per Share of Common Stock Data:
−Removed: Earnings per share attributable to Columbia Sportswear Company:
−Removed: Basic $ 1.63 $ 4.87 $ 3.85 $ 1.51 $ 2.75
−Removed: Diluted 1.62 4.83 3.81 1.49 2.72
−Removed: Cash dividends per share 0.26 0.96 0.90 0.73 0.69
−Removed: Weighted average shares outstanding:
−Removed: Basic 66,376 67,837 69,614 69,759 69,683
−Removed: Diluted 66,772 68,493 70,401 70,453 70,632
−Removed: Balance Sheet Data:
−Removed: Inventories, net (2)
+Added: Under this program as of December 31, 2021, we had repurchased 28.5 million shares at an aggregate purchase price of $1,183.7 million , and had $316.3 million remaining available.
+Added: The following is a summary of our common stock repurchases during the quarter ended December 31, 2021:
+Added: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
+Added: (in millions)
+Added: October 1, 2021 through October 31, 2021
313,779 $ 95.67 313,779 $ 325.0
−Removed: Total assets (2)(3)
+Added: November 1, 2021 through November 30, 2021
31,301 $ 102.70 31,301 $ 321.8
−Removed: Non-current operating lease liabilities (3)
+Added: December 1, 2021 through December 31, 2021
56,246 $ 97.38 56,246 $ 316.3
−Removed: (1) The year-ended December 31, 2017 reflects the provisional impact from the enactment of the Tax Cuts and Jobs Act in December 2017.
−Removed: (2) The year-ended December 31, 2018 reflects the impact from adoption of ASU 2014-09, Revenue from Contracts with Customers.
−Removed: (3) The year-ended December 31, 2019 reflects the impact from the adoption of ASU 2016-02, Leases.
+Added: Total 401,326 $ 96.46 401,326 $ 316.3
+Added: Part II, Item 6 of this Annual Report on Form 10-K is no longer required.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.