What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2024-11-07 compared with 2024-08-01 · 108 added, 94 removed, 533 unchanged (27% of the section changed)

1 unchanged sentence

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in thousands) June 30,

(in thousands) September 30,

2024 December 31,

2023 June 30,

2023 September 30,

Current Assets:

43 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands, except per share amounts) 2024 2023 2024 2023

4 unchanged sentences

Net licensing income 6,225 5,920 16,145 14,958

Operating income (loss) ( 23,802 ) 6,229 20,879 62,656

Operating income 112,541 134,554 133,420 197,210

Interest income, net 5,364 1,870 22,905 8,659

Other non-operating income (expense), net 1,283 ( 311 ) 2,030 354

Income (loss) before income tax ( 14,982 ) 9,550 39,167 70,110

Income tax expense (benefit) ( 3,241 ) 1,200 8,608 15,558

Net income (loss) $ ( 11,741 ) $ 8,350 $ 30,559 $ 54,552

Earnings (loss) per share:

Income before income tax 119,188 136,113 158,355 206,223

Income tax expense 29,031 32,605 37,639 48,163

Net income $ 90,157 $ 103,508 $ 120,716 $ 158,060

Earnings per share:

Basic $ 1.56 $ 1.70 $ 2.05 $ 2.57

6 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands) 2024 2023 2024 2023

Net income (loss) $ ( 11,741 ) $ 8,350 $ 30,559 $ 54,552

Net income $ 90,157 $ 103,508 $ 120,716 $ 158,060

Other comprehensive income (loss):

6 unchanged sentences

Other comprehensive income (loss) 5,572 ( 6,066 ) ( 3,602 ) ( 16,761 )

Comprehensive income (loss) $ ( 15,560 ) $ 1,596 $ 21,385 $ 43,857

Comprehensive income $ 95,729 $ 97,442 $ 117,114 $ 141,299

See accompanying notes to unaudited condensed consolidated financial statements.

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Six Months Ended June 30,

Nine Months Ended September 30,

(in thousands) 2024 2023

1 unchanged sentence

Net income $ 120,716 $ 158,060

Adjustments to reconcile net income to net cash provided by operating activities:

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Depreciation and amortization 42,187 42,290

14 unchanged sentences

Other liabilities 2,661 ( 1,897 )

Net cash provided by operating activities 108,893 9,708

Net cash provided by (used in) operating activities ( 76,608 ) 22,174

Cash flows from investing activities:

19 unchanged sentences

Property, plant and equipment acquired through increase in liabilities $ 12,224 $ 5,389

Repurchases of common stock not settled $ 8,114 $ —

See accompanying notes to unaudited condensed consolidated financial statements.

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited)

(in thousands, except per share amounts) Common Stock Retained Earnings Accumulated Other Comprehensive Loss Total

(in thousands, except per share amounts) Common Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Total

Outstanding Amount

Balance, March 31, 2024

Balance, June 30, 2024

58,752 $ — $ 1,878,972 $ ( 55,010 ) $ 1,823,962

Net loss — — ( 11,741 ) — ( 11,741 )

Other comprehensive loss — — — ( 3,819 ) ( 3,819 )

Net income — — 90,157 — 90,157

Other comprehensive income — — — 5,572 5,572

Cash dividends ($ 0.30 per share)

5 unchanged sentences

Excise taxes related to repurchase of common stock — ( 1,188 ) — — ( 1,188 )

Balance, June 30, 2024

Balance, September 30, 2024

57,261 $ — $ 1,836,910 $ ( 49,438 ) $ 1,787,472

1 unchanged sentence

Outstanding Amount

Balance, March 31, 2023

Balance, June 30, 2023

61,358 $ — $ 1,915,990 $ ( 41,332 ) $ 1,874,658

8 unchanged sentences

Excise taxes related to repurchase of common stock — ( 620 ) — — ( 620 )

Balance, June 30, 2023

Balance, September 30, 2023

60,526 $ — $ 1,942,709 $ ( 47,398 ) $ 1,895,311

12 unchanged sentences

Excise taxes related to repurchase of common stock — ( 2,155 ) — — ( 2,155 )

Balance, June 30, 2024

Balance, September 30, 2024

57,261 $ — $ 1,836,910 $ ( 49,438 ) $ 1,787,472

14 unchanged sentences

Excise taxes related to repurchase of common stock — ( 1,251 ) — — ( 1,251 )

Balance, June 30, 2023

Balance, September 30, 2023

60,526 $ — $ 1,942,709 $ ( 47,398 ) $ 1,895,311

9 unchanged sentences

Note 6 Stock-Based Compensation 12

Note 7 Earnings (Loss) Per Share 13

Note 8 Accumulated Other Comprehensive Loss 14

Note 7 Earnings Per Share 13

Note 8 Accumulated Other Comprehensive Income (Loss) 14

Note 9 Segment Information 15

1 unchanged sentence

Note 11 Fair Value Measures 18

Note 12 Supply Chain Financing 20

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 7

1 unchanged sentence

NOTE 1 — BASIS OF PRESENTATION AND ORGANIZATION

The accompanying unaudited condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries, the "Company") and, in the opinion of management, include all normal recurring material adjustments necessary to present fairly the Company's financial position as of June 30, 2024, December 31, 2023 and June 30, 2023, the results of operations for the three and six months ended June 30, 2024 and 2023, and cash flows for the six months ended June 30, 2024 and 2023.

The accompanying unaudited condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries, the "Company") and, in the opinion of management, include all normal recurring material adjustments necessary to present fairly the Company's financial position as of September 30, 2024, December 31, 2023 and September 30, 2023, the results of operations for the three and nine months ended September 30, 2024 and 2023, and cash flows for the nine months ended September 30, 2024 and 2023.

The December 31, 2023 financial information was derived from the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

A significant part of the Company's business is of a seasonal nature;

therefore, results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of results to be expected for other quarterly periods or for the full year.

therefore, results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of results to be expected for other quarterly periods or for the full year.

Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission.

23 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

In November 2024, the FASB issued ASU No.

2024-03 ("ASU 2024-03"), Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses, which is intended to improve disclosures about a public business entity's expenses, primarily through additional disaggregation of income statement expenses.

ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted.

The amendments in ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements.

The Company is currently evaluating the ASU to determine the impact on the Company's disclosures.

RECLASSIFICATIONS

7 unchanged sentences

The following tables disaggregate the Company's reportable segment Net sales by product category and channel, which the Company believes provides a meaningful depiction of how the nature, timing and uncertainty of Net sales are affected by economic factors:

Three Months Ended June 30, 2024

Three Months Ended September 30, 2024

(in thousands)

8 unchanged sentences

Total $ 571,306 $ 134,985 $ 141,785 $ 83,692 $ 931,768

Three Months Ended June 30, 2023

Three Months Ended September 30, 2023

(in thousands)

10 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2024

Nine Months Ended September 30, 2024

(in thousands)

8 unchanged sentences

Total $ 1,385,940 $ 373,115 $ 350,227 $ 162,712 $ 2,271,994

Six Months Ended June 30, 2023

Nine Months Ended September 30, 2023

(in thousands)

9 unchanged sentences

PERFORMANCE OBLIGATIONS

For the three and six months ended June 30, 2024 and 2023, Net sales recognized from performance obligations related to prior periods were not material.

For the three and nine months ended September 30, 2024 and 2023, Net sales recognized from performance obligations related to prior periods were not material.

Net sales expected to be recognized in any future period related to remaining performance obligations is not material.

CONTRACT BALANCES

As of June 30, 2024, December 31, 2023 and June 30, 2023, the Company did not have contract assets and had an immaterial amount of contract liabilities included in Accrued liabilities on the unaudited Condensed Consolidated Balance Sheets.

As of September 30, 2024, December 31, 2023 and September 30, 2023, the Company did not have contract assets and had an immaterial amount of contract liabilities included in Accrued liabilities on the unaudited Condensed Consolidated Balance Sheets.

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 10

4 unchanged sentences

(in thousands)

June 30, 2024 December 31, 2023 June 30, 2023

September 30, 2024 December 31, 2023 September 30, 2023

Intangible assets with definite lives:

9 unchanged sentences

Intangible assets, net $ 79,221 $ 79,908 $ 80,321

Amortization expense for intangible assets subject to amortization was $ 0.3 million and $ 0.4 million for the three months ended June 30, 2024 and 2023, respectively, and was $ 0.7 million and $ 0.8 million for the six months ended June 30, 2024 and 2023, respectively.

Amortization expense for intangible assets subject to amortization was $ 0.0 million and $ 0.4 million for the three months ended September 30, 2024 and 2023, respectively, and was $ 0.7 million and $1.2 million for the nine months ended September 30, 2024 and 2023, respectively.

There have been no changes to the Company's goodwill as described in Note 6 in Part II, Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

2 unchanged sentences

Management has considered facts related to legal and regulatory matters and opinions of counsel handling these matters, and does not believe the ultimate resolution of these proceedings will have a material adverse effect on the Company's financial position, results of operations or cash flows.

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 5 — SHAREHOLDERS' EQUITY

Since the inception of the Company's stock repurchase plan in 2004 through June 30, 2024, the Company's Board of Directors has authorized the repurchase of $ 2.0 billion of the Company's common stock, excluding excise tax.

Since the inception of the Company's stock repurchase plan in 2004 through September 30, 2024, the Company's Board of Directors has authorized the repurchase of $ 2.0 billion of the Company's common stock, excluding excise tax.

Shares of the Company's 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 the Company to acquire any specific number of shares or to acquire shares over any specified period of time.

Under this program as of June 30, 2024, the Company had repurchased 35.5 million shares at an aggregate purchase price of $ 1,765.4 million and had $ 234.6 million remaining available, excluding excise tax.

During the three and six months ended June 30, 2024, the Company repurchased an aggregate of $ 60.6 million and $ 110.7 million, respectively, of common stock under this program, excluding excise tax.

COLUMBIA SPORTSWEAR COMPANY | Q2 2024 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

Under this program as of September 30, 2024, the Company had repurchased 37.0 million shares at an aggregate purchase price of $ 1,885.5 million and had $ 114.5 million remaining available, excluding excise tax.

During the three and nine months ended September 30, 2024, the Company repurchased an aggregate of $ 120.1 million and $ 230.9 million, respectively, of common stock under this program, excluding excise tax.

In October 2024, the Company's Board of Directors approved a $ 600.0 million increase to the Company's share repurchase authorization, which does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time.

NOTE 6 — STOCK-BASED COMPENSATION

3 unchanged sentences

Stock-based compensation expense consisted of the following:

Three Months Ended June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands) 2024 2023 2024 2023

3 unchanged sentences

STOCK OPTIONS

During the six months ended June 30, 2024, the Company granted a total of 156,277 stock options at a weighted average grant date fair value of $ 20.86 per option.

As of June 30, 2024, unrecognized costs related to outstanding stock options totaled $ 11.9 million, before any related tax benefit.

During the nine months ended September 30, 2024, the Company granted a total of 156,277 stock options at a weighted average grant date fair value of $ 20.86 per option.

As of September 30, 2024, unrecognized costs related to outstanding stock options totaled $ 10.4 million, before any related tax benefit.

These unrecognized costs related to stock options are expected to be recognized over a weighted average remaining period of 2.14 years.

RESTRICTED STOCK UNITS

During the six months ended June 30, 2024, the Company granted 421,786 restricted stock units at a weighted average grant date fair value of $ 78.82 per restricted stock unit.

As of June 30, 2024, unrecognized costs related to outstanding restricted stock units totaled $ 42.6 million, before any related tax benefit.

During the nine months ended September 30, 2024, the Company granted 426,499 restricted stock units at a weighted average grant date fair value of $ 78.82 per restricted stock unit.

As of September 30, 2024, unrecognized costs related to outstanding restricted stock units totaled $ 38.2 million, before any related tax benefit.

These unrecognized costs related to restricted stock units are expected to be recognized over a weighted average remaining period of 2.60 years.

1 unchanged sentence

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 7 — EARNINGS (LOSS) PER SHARE

Earnings (loss) per share ("EPS") is presented on both a basic and diluted basis.

NOTE 7 — EARNINGS PER SHARE

Earnings per share ("EPS") is presented on both a basic and diluted basis.

Basic EPS is based on the weighted average number of common shares outstanding.

1 unchanged sentence

A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows:

Three Months Ended June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands, except per share amounts)

2024 2023 2024 2023

Weighted average common shares outstanding, used in computing basic earnings (loss) per share

Weighted average common shares outstanding, used in computing basic earnings per share

57,785 60,844 58,896 61,575

Effect of dilutive stock options and restricted stock units 151 88 147 200

Weighted average common shares outstanding, used in computing diluted earnings (loss) per share

Weighted average common shares outstanding, used in computing diluted earnings per share

57,936 60,932 59,043 61,775

Earnings (loss) per share:

Earnings per share:

Basic $ 1.56 $ 1.70 $ 2.05 $ 2.57

2 unchanged sentences

1,957 2,266 2,005 1,989

(1) Common stock related to stock options, service-based restricted stock units and certain market-based restricted stock units, and performance-based restricted stock units were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive under the treasury stock method, due to a net loss in the period, or because the shares were subject to performance conditions that had not been met.

(1) Common stock related to stock options, service-based restricted stock units, and performance-based restricted stock units were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive under the treasury stock method or because the shares were subject to performance conditions that had not been met.

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 13

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 8 — ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss on the unaudited Condensed Consolidated Balance Sheets is net of applicable taxes, and consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments.

The following tables set forth the changes in Accumulated other comprehensive loss :

NOTE 8 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) on the unaudited Condensed Consolidated Balance Sheets is net of applicable taxes, and consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments.

The following tables set forth the changes in Accumulated other comprehensive income (loss) :

(in thousands) Derivative transactions Foreign currency

adjustments Total

Balance as of March 31, 2024

Balance as of June 30, 2024

$ 17,523 $ ( 72,533 ) $ ( 55,010 )

3 unchanged sentences

Net other comprehensive income (loss) during the period ( 14,905 ) 20,477 5,572

Balance as of June 30, 2024

Balance as of September 30, 2024

$ 2,618 $ ( 52,056 ) $ ( 49,438 )

3 unchanged sentences

adjustments Total

Balance as of March 31, 2023

Balance as of June 30, 2023

$ 15,643 $ ( 56,975 ) $ ( 41,332 )

2 unchanged sentences

( 6,283 ) — ( 6,283 )

Net other comprehensive loss during the period ( 726 ) ( 6,028 ) ( 6,754 )

Balance as of June 30, 2023

Net other comprehensive income (loss) during the period 3,593 ( 9,659 ) ( 6,066 )

Balance as of September 30, 2023

$ 19,236 $ ( 66,634 ) $ ( 47,398 )

9 unchanged sentences

( 145 ) ( 8,354 ) — ( 8,499 )

Net other comprehensive income (loss) during the period ( 145 ) 13,834 ( 22,863 ) ( 9,174 )

Balance as of June 30, 2024

Net other comprehensive loss during the period ( 145 ) ( 1,071 ) ( 2,386 ) ( 3,602 )

Balance as of September 30, 2024

$ — $ 2,618 $ ( 52,056 ) $ ( 49,438 )

11 unchanged sentences

Net other comprehensive loss during the period ( 2,554 ) ( 14,207 ) ( 16,761 )

Balance as of June 30, 2023

Balance as of September 30, 2023

$ 19,236 $ ( 66,634 ) $ ( 47,398 )

9 unchanged sentences

The following tables present financial information for the Company's reportable segments:

Three Months Ended June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands)

6 unchanged sentences

$ 931,768 $ 985,683 $ 2,271,994 $ 2,427,209

Segment operating income (loss):

Segment operating income:

$ 115,356 $ 131,602 $ 211,815 $ 268,260

6 unchanged sentences

Other non-operating income (expense), net 1,283 ( 311 ) 2,030 354

Income (loss) before income tax $ ( 14,982 ) $ 9,550 $ 39,167 $ 70,110

Income before income tax $ 119,188 $ 136,113 $ 158,355 $ 206,223

CONCENTRATIONS

The Company had one customer that accounted for approximately 13.7 % , 19.8 % and 14.6 % of Accounts receivable, net as of June 30, 2024, December 31, 2023 and June 30, 2023, respectively.

The Company did not have any customers that accounted for 10% or more of Net sales for the three and six months ended June 30, 2024 and 2023.

The Company had one customer that accounted for approximately 11.9 %, 19.8 % and 11.6 % of Accounts receivable, net as of September 30, 2024, December 31, 2023 and September 30, 2023, respectively.

The Company did not have any customers that accounted for 10% or more of Net sales for the three and nine months ended September 30, 2024 and 2023.

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 15

16 unchanged sentences

The following table presents the gross notional amount of outstanding derivative instruments:

(in thousands) June 30, 2024 December 31, 2023 June 30, 2023

(in thousands) September 30, 2024 December 31, 2023 September 30, 2023

Derivative instruments designated as cash flow hedges:

2 unchanged sentences

Currency forward contracts $ 471,927 $ 342,532 $ 477,843

As of June 30, 2024 , $ 16.3 million of deferred net gains on both outstanding and matured derivatives recorded in Accumulated other comprehensive income (loss) are expected to be reclassified to Net income during the next twelve months as a result of underlying hedged transactions also being recorded in Net sales or Cost of sales in the unaudited Condensed Consolidated Statements of Operations.

When outstanding derivative contracts mature, actual amounts ultimately reclassified to Net sa les or Cost of sales in the unaudited Condensed Consolidated Statements of Operations are dependent on United States dollar exchange rates in effect against the euro, pound sterling, renminbi, Canadian dollar, won, and yen as well as the euro exchange rate in effect against the pound sterling.

As of June 30, 2024, the Company's derivative contracts had a remaining maturity of less than 3 years.

The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was $ 5.9 million as of June 30, 2024.

As of September 30, 2024 , $ 5.4 million of deferred net gains on both outstanding and matured derivatives recorded in Accumulated other comprehensive income (loss) are expected to be reclassified to Net income during the next twelve months as a result of underlying hedged transactions also being recorded in Net sales or Cost of sales in the unaudited Condensed Consolidated Statements of Operations.

When outstanding derivative contracts mature, actual amounts ultimately reclassified to Net sales or Cost of sales in the unaudited Condensed Consolidated Statements of Operations are dependent on United States dollar exchange rates in effect against the euro, pound sterling, renminbi, Canadian dollar, won, and yen as well as the euro exchange rate in effect against the pound sterling.

As of September 30, 2024, the Company's derivative contracts had a remaining maturity of less than 3 years.

The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was $ 1.9 million as of September 30, 2024.

All of the Company's derivative counterparties have credit ratings that are investment grade or higher.

3 unchanged sentences

The following table presents the balance sheet classification and fair value of derivative instruments:

(in thousands) Balance Sheet Classification June 30, 2024 December 31, 2023 June 30, 2023

(in thousands) Balance Sheet Classification September 30, 2024 December 31, 2023 September 30, 2023

Derivative instruments designated as cash flow hedges:

11 unchanged sentences

The following table presents the statement of operations effect and classification of derivative instruments:

Classification Three Months Ended June 30,

Six Months Ended June 30,

Classification Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands) 2024 2023 2024 2023

1 unchanged sentence

Derivative instruments designated as cash flow hedges:

Gain recognized in other comprehensive income (loss), net of tax

Gain (loss) recognized in other comprehensive income, net of tax

— $ ( 9,895 ) $ 9,876 $ 7,283 $ 10,602

Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion

Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion

Net sales ( 480 ) ( 236 ) ( 822 ) 10

Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion

Gain reclassified from accumulated other comprehensive income to income for the effective portion

Cost of sales 7,265 8,874 12,241 18,149

Gain (loss) reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance

Gain (loss) reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance

Other non-operating income (expense), net

62 — 130 ( 2 )

Derivative instruments not designated as cash flow hedges:

14 unchanged sentences

Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions.

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 are as follows:

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 are as follows:

(in thousands) Level 1 Level 2 Level 3 Total

1 unchanged sentence

Money market funds $ 50,149 $ — $ — $ 50,149

Government treasury bills — 34,813 — 34,813

Time deposits (1)

51 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 are as follows:

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 are as follows:

(in thousands) Level 1 Level 2 Level 3 Total

1 unchanged sentence

Money market funds $ 60,120 $ — $ — $ 60,120

Time deposits (1)

— 19,412 — 19,412

Short-term investments:

Available-for-sale short-term investments:

Government treasury bills — 69,751 — 69,751

Other short-term investments:

Money market funds 302 — — 302

12 unchanged sentences

Total liabilities measured at fair value $ — $ 2,465 $ — $ 2,465

(1) Available-for-sale short-term investments have remaining maturities of less than one year.

(1) Time deposits are carried at amortized cost on the unaudited condensed Consolidated Balance Sheets, which reasonably approximates fair value.

NON-RECURRING FAIR VALUE MEASUREMENTS

2 unchanged sentences

Refer to Note 6 in Part II, Item 8 in the Annual Report on Form 10-K for further discussion.

NOTE 12 — SUPPLY CHAIN FINANCING

In the third quarter of 2024, the Company began to offer a voluntary supply chain financing (“SCF”) program facilitated through a third-party service provider.

Under the program, participating suppliers may, at their sole discretion, elect to receive payment from a select number of third-party financial institutions for one or more of the Company’s valid payment obligations prior to their scheduled due dates.

The Company is not a party to the agreements between the participating financial institutions and the suppliers in connection with the program.

The Company’s payment terms, including the timing and amount of payments, are based on the original supplier invoices, irrespective of whether a supplier participates in the program.

The Company does not have an economic interest in a supplier’s decision to participate in the program and has not pledged any assets as security or provided any guarantees as part of the program.

The Company’s outstanding payables under the SCF program were $ 27.2 million as of September 30, 2024, and were recorded within Accounts payable on the unaudited Condensed Consolidated Balance Sheets.

COLUMBIA SPORTSWEAR COMPANY | Q3 2024 FORM 10-Q | 20

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-Q

Item 1. Financial Statements