What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2023-02-23 compared with 2022-02-24 · 97 added, 92 removed, 103 unchanged (65% of the section changed)

Founded in 1938 in Portland, Oregon, as a small, family-owned, regional hat distributor and incorporated in Oregon in 1961, Columbia Sportswear Company has grown to become a global leader in designing, developing, marketing, and distributing outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products.

Founded in 1938 in Portland, Oregon, as a small, family-owned, regional hat distributor and incorporated in Oregon in 1961, Columbia Sportswear Company has grown to become a global leader in designing, developing, marketing, and distributing outdoor, active and lifestyle products, including apparel, footwear, accessories, and equipment.

Unless the context indicates otherwise, the terms "we," "us," "our," "the Company," and "Columbia" refer to Columbia Sportswear Company, together with its wholly owned subsidiaries and entities in which it maintained a controlling financial interest.

BRANDS AND PRODUCTS

We connect active people with their passions through our four well-known brands by designing, developing, marketing, and distributing our outdoor, active and everyday lifestyle apparel, footwear, accessories and equipment products to meet the diverse needs of our customers and consumers.

Columbia® | Founded in 1938, our Columbia brand unlocks the outdoors for everyone.

Our Columbia brand is known for authentic, high-value outdoor apparel, footwear, accessories and equipment products designed with innovation, function, and quality suited for all seasons, activities and locations.

SOREL® | Acquired in 2000, our SOREL brand creates powerful footwear for unstoppable individuals.

Our SOREL brand provides premium, durable and design-driven footwear and accessories primarily to fashion-forward savvy women, as well as to men and youth consumers.

Mountain Hard Wear® | Acquired in 2003, our Mountain Hardwear brand exists to make gear that works, because out in the mountains, it matters for climbers.

Our Mountain Hardwear brand offers premium apparel, accessories and equipment designed to meet the high-performance needs of climbing enthusiasts and to satisfy climbers' everyday lifestyles.

prAna® | Acquired in 2014, our prAna brand focuses on clothing for positive change, in an effort to positively impact the planet and its people.

Our prAna brand provides consumers with clothes that tell a story.

From city streets to mountain peaks, prAna outfits adventurous spirits in stylish, sustainable and versatile gear.

Across our diverse portfolio of brands, our products have gained recognition for their innovation, quality and performance.

We connect active people with their passions by providing them with the products they need to seek inspiration and adventure.

We meet the diverse needs of our customers and consumers through our four well-known brands by designing, developing, marketing, and distributing our outdoor, active and lifestyle products, including apparel, footwear, accessories and equipment.

Columbia® | Founded in 1938, our Columbia brand's mission is to unlock the outdoors for everyone.

Our Columbia brand offers authentic, high-value outdoor apparel, footwear, accessories and equipment products suited for hiking, trail running, snow, and fishing and hunting activities, as well as everyday outdoor activities.

SOREL® | Acquired in 2000, our SOREL brand's mission is to challenge the status quo by creating unexpected footwear that pushes the boundaries of function-first fashion.

Our SOREL brand offers functional and fashionable footwear suited for all seasons.

Mountain Hard Wear® | Acquired in 2003, our Mountain Hardwear brand's mission is to create performance apparel and equipment to empower outdoor athletes to live boldly.

Our Mountain Hardwear brand offers premium apparel, accessories and equipment products designed to meet the high-performance needs of mountaineering, climbing, skiing and snowboarding, trail, and camp enthusiasts.

prAna® | Acquired in 2014, our prAna brand's mission is to inspire the pursuit of wellness to create a healthier body, mind and planet.

Our prAna brand offers apparel, accessories and equipment products for trail, climbing, studio and water based activities.

Across our diverse portfolio of brands, our products have gained recognition for their innovation, quality, value, and performance.

Our products incorporate the cumulative design, fabrication, fit, and construction technologies that we have pioneered over several decades and continue to innovate.

Our apparel, accessories and equipment products are designed to be used during a wide variety of activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.

Our footwear products include durable, lightweight hiking boots, trail running shoes, rugged cold weather boots for activities on snow and ice, sandals and shoes for use in water activities, and function-first fashion footwear and casual shoes for everyday use.

Our apparel, accessories and equipment products are designed to be used for all seasons, activities and locations.

SEASONALITY AND VARIABILITY OF BUSINESS

Our business is affected by the general seasonal trends common to the industry, including seasonal weather and discretionary consumer shopping and spending patterns.

Our products are marketed on a seasonal basis, and our sales are weighted substantially toward the third and fourth quarters, while our operating costs are more equally distributed throughout the year.

PRODUCT DESIGN AND INNOVATION

We are committed to designing innovative and functional products for consumers who participate in a wide range of outdoor, active and lifestyle activities, enabling them to enjoy those activities longer and in greater comfort.

We distinguish our products in the marketplace by placing significant value in the design and fit, including the overall appearance and image, and technical performance features of our products.

Our team of specialists leads both our internal research and development efforts and works closely with independent suppliers to conceive, develop and commercialize innovative technologies and products to provide the unique performance benefits desired by consumers.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 1

utilize our working relationships with specialists in the fields of chemistry, biochemistry, engineering, industrial design, materials research, graphic design, and other related fields, along with consumer insights and feedback, to develop and test innovative performance products, processes, packaging, and displays.

These efforts, coupled with our drive for continuous improvement, represent key factors in the ongoing success of our products.

MANUFACTURING AND SOURCING

We seek to substantially limit our invested capital and avoid the costs and risks associated with large production facilities and the associated labor forces;

therefore, we do not own, operate or manage manufacturing facilities.

The majority of our products are produced by contract manufacturers located outside the United States.

We establish and maintain long-term relationships with key manufacturing partners, but generally do not maintain formal long-term manufacturing volume commitments.

The use of contract manufacturers maximizes our flexibility and improves our product pricing.

We value legal, ethical and fair treatment of people involved in manufacturing our products.

Independent contractors manufacturing our products are subject to our standards of manufacturing practices to facilitate safe and humane working conditions, as well as to promote ethical business practices.

We have programs in place to monitor manufacturer practices and assess alignment against these standards.

We maintain seven manufacturing liaison offices in six Asia Pacific countries.

Our personnel in these offices monitor production at our contract manufacturers' facilities to ensure our products are manufactured to our specifications.

In 2022, our apparel, accessories and equipment products for our wholesale customers and DTC businesses were manufactured into finished goods in 14 countries.

In 2022, finished goods manufacturers in Vietnam, Bangladesh, Indonesia, and India produced approximately 40%, 20%, 15% and 10%, respectively, of these products.

Five of the largest contract finished goods manufacturers account for approximately 30% of our apparel, accessories and equipment production, with the largest manufacturer accounting for approximately 10%.

In 2022, our footwear products for our wholesale customer and DTC businesses were manufactured into finished goods in six countries.

In 2022, finished goods manufacturers in Vietnam and China produced approximately 70% and 20%, respectively, of these products.

Five of the largest contract finished goods manufacturers account for approximately 65% of our footwear production, with the largest manufacturer accounting for approximately 20% and two manufacturers accounting for approximately 15% each.

Raw materials for the finished goods manufacturing of our apparel, accessories, equipment, and footwear products are primarily sourced from Asia and are purchased directly by our contract manufacturers.

Our portfolio of brands enables us to target a wide range of consumers with differentiated products.

Our marketing supports and enhances our competitive position in the marketplace, drives alignment through seasonal initiatives, builds brand equity, raises brand relevance and awareness, infuses our brands with excitement, and, most importantly, stimulates consumer demand for our products.

Our integrated marketing efforts deliver consistent messages about the performance benefits, features and styles of our products within each of our brands and their target consumers.

We utilize a variety of means to deliver our marketing messages, including digital marketing, social media interactions, television and print publications, experiential events, brand ambassadors, enhanced product store displays, and consumer focused public relations efforts.

In addition, we reinforce our brands' marketing messages with our key wholesale customers by utilizing digital platforms, television, print and advertising campaigns, as well as in-store branded visual merchandising display tools and favorable product presentation.

We operate branded e-commerce and marketing sites and maintain an active presence on a variety of global social media platforms.

We authorize and encourage our international distributors to connect with consumers by operating e-commerce and marketing sites and maintaining a presence on social media platforms.

Digital marketing and social media engagement increase our ability to build strong emotional connections with consumers through consistent, brand-enhancing content.

Our digital media connects our consumers to brand content and products, while facilitating their direct product purchases or directing them to nearby retail locations.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 2

SALES AND DISTRIBUTION

2 unchanged sentences

Each geographic segment operates predominantly in one industry:

the design, sourcing, marketing, and distribution of outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products.

the design, development, marketing, and distribution of outdoor, active and lifestyle apparel, footwear, accessories, and equipment products.

We sell our products through a mix of distribution channels.

Our wholesale distribution channel consists of small, independently operated specialty outdoor and sporting goods stores, regional, national and international sporting goods chains, large regional, national and international department store chains, internet retailers, and international distributors where we generally do not have our own direct operations.

Our direct-to-consumer ("DTC") distribution channel consists of our own network of branded and outlet retail stores, brand-specific e-commerce sites, and concession or franchise based arrangements with third-parties at branded, outlet and shop-in-shop retail

COLUMBIA SPORTSWEAR COMPANY | 2021 FORM 10-K | 1

locations in the LAAP and EMEA regions.

In addition, we earn revenue through licensing certain of our trademarks across a range of apparel, accessories, equipment, footwear, and home products.

3 unchanged sentences

We have nearly 2,000 wholesale customers in the U.S.

In 2021, our two largest U.S.

In 2022, our three largest U.S.

wholesale customers accounted for approximately 15% of U.S.

net sales, or less than 10% individually.

At December 31, 2021, we directly operated 142 retail stores.

net sales, and were less than 10% individually.

As of December 31, 2022, we directly operated 156 retail stores.

We distribute the majority of our U.S.

products from distribution centers that we own and operate in Portland, Oregon and Robards, Kentucky, as well as through a third-party logistics company that operates a distribution center in Louisville, Kentucky.

products from distribution centers that we own and operate in Portland, Oregon and Robards, Kentucky, as well as through third-party logistics companies that operate distribution centers in Louisville, Kentucky and other facilities located near United States ports.

We also arrange to have products directly shipped from contract manufacturers to wholesale customer-designated facilities in the United States.

1 unchanged sentence

These products are sold by our wholly-owned subsidiaries in Japan, Korea and China, and through distributors in other LAAP markets.

We have over 300 wholesale customers, including distributors, in LAAP.

In 2021, our five largest LAAP wholesale customers accounted for approximately 10% of LAAP net sales, or less than 10% individually.

At December 31, 2021, we directly operated 277 retail stores, and maintained 29 concession and 69 franchise based arrangements with third-parties.

We distribute LAAP products through third-party logistics companies that operate distribution centers near Tokyo, Seoul, and Shanghai.

In addition, we utilize various distributors in the LAAP region.

The vast majority of our products sold to distributors are shipped directly to the distributors from the contract manufacturers from which we source our products.

We have nearly 300 wholesale customers, including distributors, in LAAP.

In 2022, our four largest LAAP wholesale customers accounted for approximately 10% of LAAP net sales, and were less than 10% individually.

As of December 31, 2022, we directly operated 257 retail stores, and maintained 31 concession and 62 franchise based arrangements with third-parties.

We distribute LAAP products through third-party logistics companies that operate distribution centers near Tokyo, Seoul, and Shanghai for our Japan, Korea and China businesses, respectively.

The vast majority of our products sold to LAAP distributors are shipped directly to the distributors from the contract manufacturers from which we source our products.

EMEA provides apparel, accessories and equipment products through our Columbia, Mountain Hardwear and prAna brands and footwear products through our Columbia and SOREL brands.

These products are sold by our Europe-direct and EMEA distributor businesses.

We have over 3,450 wholesale customers, including distributors, in EMEA.

We have nearly 3,550 wholesale customers, including distributors, in EMEA.

In 2022, our largest EMEA wholesale customer accounted for approximately 12% of EMEA net sales.

At December 31, 2021, we directly operated 26 retail stores and maintained 21 concession-based arrangements with third-parties.

We distribute the majority of EMEA products from a distribution center that we own and operate in France.

In addition, we utilize various distributors in the EMEA region.

The vast majority of our products sold to distributors are shipped directly to the distributors from the contract manufacturers from which we source our products.

As of December 31, 2022, we directly operated 25 retail stores and maintained 23 concession-based arrangements with third-parties.

We distribute the majority of EMEA products from a distribution center that we own and operate in France for our Europe-direct business.

The vast majority of our products sold to EMEA distributors are shipped directly to the distributors from the contract manufacturers from which we source our products.

Canada provides apparel, accessories and equipment products through our Columbia, Mountain Hardwear and prAna brands and footwear products through our Columbia and SOREL brands.

These products are sold by our Canada wholesale and DTC businesses.

We have nearly 550 wholesale customers in Canada.

In 2021, our two largest Canada wholesale customers accounted for approximately 24% of Canada net sales, or approximately 14% and 10% individually.

At December 31, 2021, we directly operated 10 retail stores.

We distribute the majority of Canada products from a distribution center that we own and operate in Ontario.

See Item 7 and Item 8 in this Annual Report on Form 10-K for further discussion regarding our reportable segments.

SEASONALITY AND VARIABILITY OF BUSINESS

Our business is affected by the general seasonal trends common to the industry, including seasonal weather and discretionary consumer shopping and spending patterns.

COLUMBIA SPORTSWEAR COMPANY | 2021 FORM 10-K | 2

PRODUCT DESIGN AND INNOVATION

We are committed to designing innovative and functional products for consumers who participate in a wide range of outdoor, active and everyday lifestyle activities, enabling them to enjoy those activities longer and in greater comfort.

We distinguish our products in the marketplace by placing significant value in the design and fit, including the overall appearance and image, and technical performance features of our products.

Our team of specialists both lead our internal research and development efforts and work closely with independent suppliers to conceive, develop and commercialize innovative technologies and products to provide the unique performance benefits desired by consumers.

We utilize our working relationships with specialists in the fields of chemistry, biochemistry, engineering, industrial design, materials research, graphic design, and other related fields, along with consumer insights and feedback, to develop and test innovative performance products, processes, packaging, and displays.

These efforts, coupled with our drive for continuous improvement, represent key factors in the ongoing success of our products.

MANUFACTURING AND SOURCING

We seek to substantially limit our invested capital and avoid the costs and risks associated with large production facilities and the associated large labor forces;

therefore, we do not own, operate or manage manufacturing facilities.

The majority of our products are manufactured by contract manufacturers located outside the United States.

We establish and maintain long-term relationships with key manufacturing partners, but generally do not maintain formal long-term manufacturing volume commitments.

The use of contract manufacturers greatly increases our production capacity, maximizes our flexibility and improves our product pricing.

We value legal, ethical and fair treatment of people involved in manufacturing our products.

Independent contractors manufacturing our products are subject to our standards of manufacturing practices to facilitate decent, safe and humane working conditions, as well as promote ethical business practices.

We have programs in place to monitor manufacturer practices and assess alignment against these standards.

We maintain seven manufacturing liaison offices in six Asia Pacific countries.

Our personnel in these offices monitor production at our contract manufacturers' facilities to ensure our products are manufactured to our specifications.

The physical location of our employees in these regional offices enhances our ability to monitor contract manufacturers for compliance with our policies, procedures and standards regarding quality, delivery, pricing, and labor practices.

The design of our quality assurance process seeks to ensure that our products meet and maintain our quality standards and product reputation.

In 2021, our apparel, accessories and equipment products were manufactured in 13 countries.

In 2021, manufacturers in Vietnam, Bangladesh, and Indonesia produced approximately 45%, 15% and 15%, respectively, of these products.

Five of the largest contract manufacturers account for approximately 35% of our apparel, accessories and equipment production, with the largest manufacturer accounting for nearly 10%.

In 2021, our footwear products were manufactured in six countries.

In 2021, manufacturers in Vietnam and China produced approximately 85% and 10%, respectively, of these products.

Five of the largest contract manufacturers account for approximately 85% of our footwear production, with the largest manufacturer accounting for approximately 30%, three manufacturers accounting for approximately 15% each and one manufacturer accounting for approximately 10%.

Raw materials for the manufacturing of our apparel, accessories, equipment, and footwear products are primarily sourced from Asia and are purchased directly by our contract manufacturers.

Our portfolio of brands enables us to target a wide range of consumers with differentiated products.

Our marketing supports and enhances our competitive position in the marketplace, drives global alignment through seasonal initiatives, builds brand equity, raises global brand relevance and awareness, infuses our brands with excitement, and, most importantly, stimulates worldwide consumer demand for our products.

Our integrated marketing efforts deliver consistent messages about the performance benefits, features and styles of our products within each of our brands and their different target consumers.

In addition, we reinforce our brands' marketing messages with our key wholesale

We have over 550 wholesale customers in Canada.

In 2022, our two largest Canada wholesale customers accounted for approximately 25% of Canada net sales, and were approximately 15% and 10% individually.

As of December 31, 2022, we directly operated 11 retail stores.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 3

customers by utilizing digital platforms, television, radio, print and advertising campaigns, as well as in-store branded visual merchandising display tools and favorable product presentation.

We operate branded e-commerce and marketing sites and maintain an active presence on a variety of global social media platforms.

We authorize and encourage our international distributors to connect with consumers by operating e-commerce and marketing sites and maintaining a presence on social media platforms.

Digital marketing and social media engagement increase our brands' global ability to build strong emotional connections with consumers through consistent, brand-enhancing content.

Our digital media connects our consumers to brand content and products, while facilitating their direct product purchases or directing them to nearby retail locations.

We distribute the majority of Canada products from a distribution center that we own and operate in the province of Ontario in Canada.

See Part II, Item 7 and Item 8 in this Annual Report on Form 10-K for further discussion regarding our reportable segments.

INTELLECTUAL PROPERTY

5 unchanged sentences

We vigorously protect these proprietary rights against counterfeit reproductions and other infringing activities.

The markets for outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products are highly competitive and we face significant competition from numerous companies.

The markets for outdoor, active and lifestyle apparel, footwear, accessories, and equipment products are highly competitive and we face significant competition from numerous companies.

Our competition includes large companies with significant financial, marketing and operational resources, small companies with limited resources but deep entrenchment in their local markets, and other branded competitors.

We also face competition from our wholesale customers who, under their own private brand names, produce and distribute similar products to our target consumers through their own retail stores and e-commerce businesses.

We identify our primary competitive factors in the markets for outdoor, active and everyday lifestyle products to be brand strength, product innovation, design, functionality, durability, and price, as well as effective marketing and delivery of product in alignment with consumer expectations.

We identify our primary competitive factors in the markets for outdoor, active and lifestyle products to be brand strength, product innovation, design, functionality, durability, and price, as well as effective marketing and delivery of product in alignment with consumer expectations.

GOVERNMENT REGULATION

1 unchanged sentence

See Item 1A of this Annual Report on Form 10-K for more information of risks relating to these laws, rules, and regulations.

SUSTAINABILITY

Our sustainability strategy is to sustain active lifestyles through investing in initiatives that have a positive impact on the people we reach, the places we touch and the products we make through:

• empowering people;

• sustaining places;

• maintaining responsible practices.

Each of our four brands focuses on impacts that are unique to their positioning within this strategy.

Detailed information regarding our (and our brands’) corporate responsibility priorities and progress can be found in our latest "Environmental, Social and Governance Report" at http://columbia.com/corporate-responsibility.

HUMAN CAPITAL

We believe that attracting and retaining exceptional talent strengthens our enterprise and propels us as a leader in product innovation.

As part of these efforts, we strive to offer a competitive compensation and benefits program, foster a community where everyone feels included and empowered to do their best work and promote employee well-being.

At December 31, 2021, our employee workforce of approximately 8,325 employees was comprised of approximately 4,500 full-time and part-time retail employees, 925 distribution center employees and 2,900 corporate employees.

From December 31, 2020 to December 31, 2021, we had an overall employee turnover rate of approximately 58%, impacted by approximately 87% and 61% turnover rate in our retail and distribution employee base, respectively.

Approximately 31% of our workforce was located outside of the United States at December 31, 2021.

We believe that attracting and retaining talent strengthens our enterprise.

As part of these efforts, we strive to offer a competitive compensation and benefits program and promote employee well-being.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 4

As of December 31, 2022, our employee workforce of approximately 9,450 employees consisted of approximately 5,040 full-time and part-time retail employees, 1,270 distribution center employees and 3,140 corporate and/or office employees.

From December 31, 2021 to December 31, 2022, we had an overall employee turnover rate of approximately 62%, impacted by approximately 89% and 85% turnover rates in our distribution and retail employee base, respectively.

Approximately 28% of our workforce was located outside of the United States as of December 31, 2022.

Compensation and Benefits

5 unchanged sentences

Diversity, Equity and Inclusion

At December 31, 2021, our global workforce was self-disclosed as 42% male, 55% female, less than 1% non-binary and 2% undisclosed or chose not to identify.

In the United States, the self-disclosed ethnicity of our workforce, including retail and distribution employees, was 60% White, 7% Asian, 19% Hispanic or Latino, 7% Black, less than 1% American Indian or Alaskan Native, less than 1% Native Hawaiian or other Pacific Islander, 4% two or more races and 2% undisclosed or chose not to identify.

A Diversity, Equity and Inclusion Leadership Team was formed in 2020 to lead our efforts toward a more diverse, equitable, and inclusive workplace.

This team focuses on supporting strategies and efforts to advance progress in the following categories:

A Diversity, Equity and Inclusion Leadership Team was formed in 2020 to focus on diversity, equity, and inclusivity in the workplace.

This team focuses on supporting strategies and efforts in the following categories:

listening and learning, diversifying talent, creating and sponsoring opportunities, and being a force for good.

As of December 31, 2022, our global workforce was self-disclosed as 55% female, 42% male, less than 1% non-binary and 2% undisclosed or chose not to identify.

In the United States, the self-disclosed ethnicity of our workforce, including retail and distribution employees, was 59% White, 21% Hispanic or Latino, 7% Asian, 7% Black, less than 1% American Indian or Alaskan Native, less than 1% Native Hawaiian or other Pacific Islander, 3% two or more races and 2% undisclosed or chose not to identify.

Employee Well-Being

1 unchanged sentence

physical health, career, social and emotional health, financial, and community.

For more information on our efforts to support our workforce, see our latest Corporate Responsibility Report at http://columbia.com/corporate-responsibility.

For more information on our efforts to support our workforce, see our "Environmental, Social and Governance Report" at http://columbia.com/corporate-responsibility.

AVAILABLE INFORMATION

8 unchanged sentences

Boyle 42 Executive Vice President, Columbia Brand President

Bragdon 59 Executive Vice President, Chief Administrative Officer, General Counsel, and Secretary

Bragdon 60 Executive Vice President, Chief Administrative Officer and General Counsel

Kulok 57 Executive Vice President, Chief Supply Chain Officer

Luther 54 Executive Vice President, Corporate Affairs and Chief Human Resources Officer

Skip Potter 51 Executive Vice President, Chief Digital Information Officer

25 unchanged sentences

Kulok held various leadership positions at Nike, Inc., including USA Apparel Marketplace Planning Director and Director of Regional Planning.

Luther joined the Company in 2008 as Deputy General Counsel.

She was appointed Senior Vice President & Chief Human Resource Officer in September 2015 and named Executive Vice President, Corporate Affairs and Chief Human Resources Officer in January 2023.

Prior to joining the Company, she served at Northwest Natural Gas from 2002 to 2008, most recently as Corporate Secretary and Chief Governance Officer, and was an attorney at Stoel Rives LLP from 1997 to 2002.

Skip Potter joined the Company in 2021 as Executive Vice President, Chief Digital Information Officer.

5 unchanged sentences

Sheerin held various leadership positions at Nike, Inc., including Vice President, North America Sales, Vice President of Global Sales, Nike Sportswear and Managing Director/General Manager of Nike Korea.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 6

Swanson joined the Company in 2003 and has served in numerous roles of increasing responsibility during his tenure, being named Vice President of Finance in 2015 and promoted to Senior Vice President, Chief Financial Officer in 2017 and to Executive Vice President and Chief Financial Officer in 2020.

1 unchanged sentence

Swanson served in a variety of financial planning and analysis, tax, and accounting roles, including senior financial analyst at Freightliner Corporation and at Tality Corporation, and as a senior tax and business advisory associate at Arthur Andersen.

COLUMBIA SPORTSWEAR COMPANY | 2021 FORM 10-K | 6

Craig Zanon joined the Company in 2021 as Senior Vice President, Emerging Brands.

4 unchanged sentences

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.

What changed 10-K

Item 1. Business