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Item 1. Financial Statements

2025-08-07 compared with 2025-05-08 · 223 added, 92 removed, 529 unchanged (37% of the section changed)

1 unchanged sentence

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in thousands) March 31,

(in thousands) June 30,

2025 December 31,

2024 March 31,

2024 June 30,

Current Assets:

42 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended March 31,

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands, except per share amounts) 2025 2024 2025 2024

4 unchanged sentences

Net licensing income 4,929 5,528 9,851 9,920

Operating income 46,508 44,681

Operating income (loss) ( 23,591 ) ( 23,802 ) 22,917 20,879

Interest income, net 4,838 8,344 11,655 17,541

Other non-operating income, net 2,164 476 3,715 747

Income before income tax 54,876 54,149

Income tax expense 12,628 11,849

Net income $ 42,248 $ 42,300

Earnings per share:

Income (loss) before income tax ( 16,589 ) ( 14,982 ) 38,287 39,167

Income tax expense (benefit) ( 6,393 ) ( 3,241 ) 6,235 8,608

Net income (loss) $ ( 10,196 ) $ ( 11,741 ) $ 32,052 $ 30,559

Earnings (loss) per share:

Basic $ ( 0.19 ) $ ( 0.20 ) $ 0.58 $ 0.51

6 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

Three Months Ended March 31,

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

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands) 2025 2024 2025 2024

Net income $ 42,248 $ 42,300

Other comprehensive income (loss):

Net income (loss) $ ( 10,196 ) $ ( 11,741 ) $ 32,052 $ 30,559

Other comprehensive loss:

Change in available-for-sale securities (net of tax effect of $0, $0, $ 26 and $ 46 , respectively)

4 unchanged sentences

20,550 ( 7,876 ) 30,363 ( 22,863 )

Other comprehensive income (loss) 1,771 ( 5,355 )

Comprehensive income $ 44,019 $ 36,945

Other comprehensive loss ( 5,396 ) ( 3,819 ) ( 3,625 ) ( 9,174 )

Comprehensive income (loss) $ ( 15,592 ) $ ( 15,560 ) $ 28,427 $ 21,385

See accompanying notes to unaudited condensed consolidated financial statements.

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Three Months Ended March 31,

Six Months Ended June 30,

(in thousands) 2025 2024

7 unchanged sentences

Share-based compensation

11,799 12,008

Other, net ( 2,200 ) ( 9,800 )

14 unchanged sentences

Capital expenditures ( 30,036 ) ( 27,788 )

Net cash provided by (used in) investing activities ( 61,431 ) 37,109

Net cash provided by investing activities 110,582 29,951

Cash flows from financing activities:

6 unchanged sentences

Net effect of exchange rate changes on cash 13,501 ( 8,381 )

Net increase (decrease) in cash and cash equivalents ( 208,530 ) 68,143

Net decrease in cash and cash equivalents ( 104,065 ) ( 8,497 )

Cash and cash equivalents, beginning of period 531,869 350,319

4 unchanged sentences

Property, plant and equipment acquired through increase in liabilities $ 8,225 $ 6,283

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 Income (Loss)

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

Outstanding Amount

Balance, March 31, 2025

55,169 $ — $ 1,771,218 $ ( 61,451 ) $ 1,709,767

Net loss — — ( 10,196 ) — ( 10,196 )

Other comprehensive loss — — — ( 5,396 ) ( 5,396 )

Cash dividends ($ 0.30 per share)

— — ( 16,430 ) — ( 16,430 )

Issuance of common stock related to stock-based compensation, net

Share-based compensation expense — 6,575 — — 6,575

Repurchase of common stock ( 426 ) ( 6,376 ) ( 23,873 ) — ( 30,249 )

Excise taxes related to repurchase of common stock — ( 273 ) — — ( 273 )

Balance, June 30, 2025

54,769 $ — $ 1,720,719 $ ( 66,847 ) $ 1,653,872

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

Outstanding Amount

Balance, March 31, 2024

59,473 $ — $ 1,960,634 $ ( 51,191 ) $ 1,909,443

Net loss — — ( 11,741 ) — ( 11,741 )

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

Cash dividends ($ 0.30 per share)

— — ( 17,701 ) — ( 17,701 )

Issuance of common stock related to stock-based compensation, net

62 2,534 — — 2,534

Share-based compensation expense — 6,364 — — 6,364

Repurchase of common stock ( 783 ) ( 8,344 ) ( 52,220 ) — ( 60,564 )

Excise taxes related to repurchase of common stock — ( 554 ) — — ( 554 )

Balance, June 30, 2024

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

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

Outstanding Amount

Balance, December 31, 2024

1 unchanged sentence

Net income — — 32,052 — 32,052

Other comprehensive income

— — — 1,771 1,771

Other comprehensive loss — — — ( 3,625 ) ( 3,625 )

Cash dividends ($ 0.60 per share)

6 unchanged sentences

Excise taxes related to repurchase of common stock — ( 1,131 ) — — ( 1,131 )

Balance, March 31, 2025

Balance, June 30, 2025

54,769 $ — $ 1,720,719 $ ( 66,847 ) $ 1,653,872

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 5

Notes to unaudited Condensed Consolidated Financial Statements

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

12 unchanged sentences

Excise taxes related to repurchase of common stock — ( 967 ) — — ( 967 )

Balance, March 31, 2024

Balance, June 30, 2024

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

7 unchanged sentences

Note 4 Share-Based Compensation 13

Note 5 Earnings Per Share 12

Note 5 Earnings (Loss) Per Share 14

Note 6 Intangible Assets, Net and Goodwill 15

5 unchanged sentences

Note 12 Fair Value Measures 19

Note 13 Subsequent Events 22

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 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 March 31, 2025, December 31, 2024 and March 31, 2024, the results of operations for the three months ended March 31, 2025 and 2024, and cash flows for the three months ended March 31, 2025 and 2024.

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, 2025, December 31, 2024 and June 30, 2024, the results of operations for the three and six months ended June 30, 2025 and 2024, and cash flows for the six months ended June 30, 2025 and 2024.

The December 31, 2024 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, 2024.

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

therefore, results of operations for the three months ended March 31, 2025 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 six months ended June 30, 2025 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.

27 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 March 31, 2025

Three Months Ended June 30, 2025

(in thousands)

2 unchanged sentences

Apparel, Accessories and Equipment $ 291,406 $ 84,945 $ 96,435 $ 21,516 $ 494,302

Footwear 43,711 27,388 34,127 5,718 110,944

Total $ 335,117 $ 112,333 $ 130,562 $ 27,234 $ 605,246

Channel net sales

Wholesale $ 137,921 $ 58,033 $ 107,590 $ 13,674 $ 317,218

Direct-to-consumer 197,196 54,300 22,972 13,560 288,028

Total $ 335,117 $ 112,333 $ 130,562 $ 27,234 $ 605,246

Three Months Ended June 30, 2024

(in thousands)

LAAP EMEA Canada Total

Product category net sales

Apparel, Accessories and Equipment $ 292,353 $ 73,538 $ 76,742 $ 21,307 $ 463,940

Footwear 47,875 25,946 27,180 5,303 106,304

Total $ 340,228 $ 99,484 $ 103,922 $ 26,610 $ 570,244

Channel net sales

Wholesale $ 132,394 $ 47,414 $ 86,755 $ 11,821 $ 278,384

Direct-to-consumer 207,834 52,070 17,167 14,789 291,860

Total $ 340,228 $ 99,484 $ 103,922 $ 26,610 $ 570,244

Six Months Ended June 30, 2025

(in thousands)

LAAP EMEA Canada Total

Product category net sales:

Apparel, accessories and equipment

$ 685,039 $ 205,237 $ 173,418 $ 59,428 $ 1,123,122

5 unchanged sentences

Total $ 806,298 $ 264,543 $ 238,042 $ 74,815 $ 1,383,698

Three Months Ended March 31, 2024

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 9

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2024

(in thousands)

10 unchanged sentences

PERFORMANCE OBLIGATIONS

For the three months ended March 31, 2025 and 2024, Net sales recognized from performance obligations related to prior periods were not material.

For the three and six months ended June 30, 2025 and 2024, 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 are not material.

CONTRACT BALANCES

As of March 31, 2025, December 31, 2024 and March 31, 2024, the Company did not have any contract assets and had an immaterial amount of contract liabilities included in Accrued liabilities on the unaudited Condensed Consolidated Balance Sheets.

As of June 30, 2025, December 31, 2024 and June 30, 2024, the Company did not have any contract assets and had an immaterial amount of contract liabilities included in Accrued liabilities on the unaudited Condensed Consolidated Balance Sheets.

NOTE 3 — SEGMENT INFORMATION

7 unchanged sentences

The Company’s CODM assesses the segments’ performance by using each segment's operating income.

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 8

Notes to unaudited Condensed Consolidated Financial Statements

The CODM uses each segment's operating income to allocate resources predominantly in the annual budget and forecasting process.

4 unchanged sentences

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

Three Months Ended March 31, 2025

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 10

Notes to unaudited Condensed Consolidated Financial Statements

Three Months Ended June 30, 2025

(in thousands)

6 unchanged sentences

17,598 6,602 4,851 3,890 32,941

Segment operating income (loss) 17,338 7,022 21,630 ( 1,954 ) 44,036

Reconciliation to income before income tax:

Unallocated corporate expenses

Operating loss ( 23,591 )

Interest income, net

Other non-operating income, net

Loss before income tax $ ( 16,589 )

(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.

Three Months Ended June 30, 2024

(in thousands)

$ 340,228 $ 99,484 $ 103,922 $ 26,610 $ 570,244

Cost of sales

176,858 46,287 60,278 13,402 296,825

Segment selling, general and administrative expenses

119,590 40,717 24,194 9,539 194,040

Other segment items (a)

20,314 6,398 5,031 3,692 35,435

Segment operating income (loss) 23,466 6,082 14,419 ( 23 ) 43,944

Reconciliation to income before income tax:

Unallocated corporate expenses

Operating loss ( 23,802 )

Interest income, net

Other non-operating income, net

Loss before income tax $ ( 14,982 )

Six Months Ended June 30, 2025

(in thousands)

$ 806,298 $ 264,543 $ 238,042 $ 74,815 $ 1,383,698

Cost of sales

405,688 120,251 127,103 37,491 690,533

Segment selling, general and administrative expenses

280,784 97,817 61,971 22,700 463,272

Other segment items (a)

36,534 13,123 8,360 7,615 65,632

Segment operating income

7 unchanged sentences

Three Months Ended March 31, 2024

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2024

(in thousands)

16 unchanged sentences

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 9

Notes to unaudited Condensed Consolidated Financial Statements

The following table presents segment depreciation and amortization expense information:

Three Months Ended March 31,

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands)

2025 2024 2025 2024

Depreciation and amortization expense:

7 unchanged sentences

(in thousands)

March 31, 2025 December 31, 2024 March 31, 2024

June 30, 2025 December 31, 2024 June 30, 2024

$ 585,639 $ 450,014 $ 528,415

8 unchanged sentences

CONCENTRATIONS

No single customer accounted for 10% or more of Net sales for the three months ended March 31, 2025 and 2024.

No single customer accounted for 10% or more of Net sales for the three and six months ended June 30, 2025 and 2024.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 12

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 4 — SHARE-BASED COMPENSATION

3 unchanged sentences

Share-based compensation expense, which is primarily recorded in Selling, general and administrative ("SG&A") expenses , consisted of the following:

Three Months Ended March 31,

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands) 2025 2024 2025 2024

3 unchanged sentences

Total $ 6,738 $ 6,364 $ 12,245 $ 12,008

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 10

Notes to unaudited Condensed Consolidated Financial Statements

STOCK OPTIONS

During the three months ended March 31, 2025, the Company granted a total of 160,263 stock options at a weighted average grant date fair value of $ 19.23 per option.

As of March 31, 2025, unrecognized costs related to outstanding stock options, which are net of estimated forfeitures, totaled $ 9.6 million, before any related tax benefit.

During the six months ended June 30, 2025, the Company granted a total of 160,263 stock options at a weighted average grant date fair value of $ 19.23 per option.

As of June 30, 2025, unrecognized costs related to outstanding stock options, which are net of estimated forfeitures, totaled $ 8.2 million, before any related tax benefit.

These unrecognized costs related to stock options are expected to be recognized over a weighted average period of 2.25 years.

1 unchanged sentence

Time-Based Restricted Stock Units

During the three months ended March 31, 2025, the Company granted 333,091 time-based restricted stock units ("time-based RSUs") at a weighted average grant date fair value of $ 82.17 per time-based RSU.

As of March 31, 2025, unrecognized costs related to outstanding time-based RSUs, which are net of estimated forfeitures, totaled $ 48.2 million, before any related tax benefit.

During the six months ended June 30, 2025, the Company granted 361,657 time-based restricted stock units ("time-based RSUs") at a weighted average grant date fair value of $ 80.52 per time-based RSU.

As of June 30, 2025, unrecognized costs related to outstanding time-based RSUs, which are net of estimated forfeitures, totaled $ 43.8 million, before any related tax benefit.

These unrecognized costs related to time-based RSUs are expected to be recognized over a weighted average period of 2.81 years.

Performance-Based Restricted Stock Units

During the three months ended March 31, 2025, the Company granted 22,860 performance-based restricted stock units (“performance-based RSUs”) at a weighted average grant date fair value of $ 81.05 per performance-based RSU.

As of March 31, 2025, unrecognized costs related to outstanding performance-based RSUs, which are net of estimated forfeitures and reflect achievement of performance forecasted as of the balance sheet date, totaled $ 1.6 million, before any related tax benefit.

During the six months ended June 30, 2025, the Company granted 22,860 performance-based restricted stock units (“performance-based RSUs”) at a weighted average grant date fair value of $ 81.05 per performance-based RSU.

As of June 30, 2025, unrecognized costs related to outstanding performance-based RSUs, which are net of estimated forfeitures and reflect achievement of performance forecasted as of the balance sheet date, totaled $ 1.0 million, before any related tax benefit.

These unrecognized costs related to performance-based RSUs are expected to be recognized over a weighted average period of 1.76 years.

Market-Based Restricted Stock Units

During the three months ended March 31, 2025, the Company granted 22,860 market-based restricted stock units (“market-based RSUs”) at a weighted average grant date fair value of $ 117.40 per market-based RSU.

As of March 31, 2025, unrecognized costs related to outstanding market-based RSUs, which are net of estimated forfeitures, totaled $ 3.4 million, before any related tax benefit.

During the six months ended June 30, 2025, the Company granted 22,860 market-based restricted stock units (“market-based RSUs”) at a weighted average grant date fair value of $ 117.40 per market-based RSU.

As of June 30, 2025, unrecognized costs related to outstanding market-based RSUs, which are net of estimated forfeitures, totaled $ 3.0 million, before any related tax benefit.

These unrecognized costs related to market-based RSUs are expected to be recognized over a weighted average period of 2 years.

Market-Based Long-Term Cash Awards

During the three months ended March 31, 2025, the Company issued a long-term cash award to its Chief Executive Officer with a target value of $ 1.3 million that includes both a market and time-based vesting condition.

As of March 31, 2025, the fair value of all outstanding market-based long-term cash awards was $ 3.3 million and the Company had unrecognized compensation costs of $ 2.6 million.

These unrecognized costs are expected to be recognized over a weighted average period of 2.25 years.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 13

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 5 — EARNINGS PER SHARE

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

During the six months ended June 30, 2025, the Company issued a long-term cash award to its Chief Executive Officer with a target value of $ 1.3 million that includes both a market and time-based vesting condition.

As of June 30, 2025, the fair value of all outstanding market-based long-term cash awards was $ 2.8 million and the Company had unrecognized compensation costs of $ 1.9 million.

These unrecognized costs are expected to be recognized over a weighted average period of 1.98 years.

NOTE 5 - EARNINGS (LOSS) PER SHARE

Earnings (loss) 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 March 31,

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands, except per share amounts)

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

2025 2024 2025 2024

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

54,777 59,093 55,253 59,458

Effect of dilutive stock options and restricted stock units — — 142 145

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

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

54,777 59,093 55,395 59,603

Earnings per share:

Earnings (loss) per share:

Basic $ ( 0.19 ) $ ( 0.20 ) $ 0.58 $ 0.51

1 unchanged sentence

Weighted average common shares excluded (1)

2,929 2,969 2,230 2,029

(1) Common stock related to stock options, time-based restricted stock units, 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 or because the shares were subject to performance conditions that had not been met.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 14

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 6 — INTANGIBLE ASSETS, NET AND GOODWILL

2 unchanged sentences

(in thousands)

March 31, 2025 December 31, 2024 March 31, 2024

June 30, 2025 December 31, 2024 June 30, 2024

Intangible assets with definite lives:

9 unchanged sentences

Intangible assets, net $ 79,221 $ 79,221 $ 79,221

Intangible assets subject to amortization were fully amortized as of March 31, 2025 and December 31, 2024.

For the three months ended March 31, 2024, amortization expense for intangible assets subject to amortization was $ 0.4 million.

Intangible assets subject to amortization were fully amortized for the three and six months ended June 30, 2025.

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

There have been no changes to the Company's goodwill as described in Note 5 in Part II, Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 12

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 7 — SUPPLY CHAIN FINANCING

4 unchanged sentences

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 $ 51.4 million, $ 81.3 million and $ 0 as of March 31, 2025, December 31, 2024, and March 31, 2024, respectively, and were recorded within Accounts payable on the Consolidated Balance Sheets.

The Company’s outstanding payables under the SCF program were $ 137.2 million, $ 81.3 million and $ 0 million as of June 30, 2025, December 31, 2024, and June 30, 2024, respectively, and were recorded within Accounts payable on the Consolidated Balance Sheets.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 15

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 8 — COMMITMENTS AND CONTINGENCIES

2 unchanged sentences

NOTE 9 — SHAREHOLDERS' EQUITY

Since the inception of the Company's stock repurchase plan in 2004 through March 31, 2025, the Company's Board of Directors has authorized the repurchase of $ 2.6 billion of the Company's common stock, excluding excise tax.

Since the inception of the Company's stock repurchase plan in 2004 through June 30, 2025, the Company's Board of Directors has authorized the repurchase of $ 2.6 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 March 31, 2025, the Company had repurchased 39.3 million shares at an aggregate purchase price of $ 2,073.9 million and had $ 526.1 million remaining available under the share repurchase program, excluding excise tax.

During the three months ended March 31, 2025 and 2024, the Company repurchased an aggregate of $ 101.4 million and $ 50.2 million, respectively, of common stock under this program, excluding excise tax.

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 13

Notes to unaudited Condensed Consolidated Financial Statements

Under this program as of June 30, 2025, the Company had repurchased 39.7 million shares at an aggregate purchase price of $ 2,104.1 million and had $ 495.9 million remaining available under the share repurchase program, excluding excise tax.

During the three and six months ended June 30, 2025, the Company repurchased an aggregate of $ 30.2 million and $ 131.7 million, respectively, of common stock under this program, excluding excise tax.

NOTE 10 — ACCUMULATED OTHER COMPREHENSIVE LOSS

1 unchanged sentence

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

(in thousands) Available-for-

sale securities Derivative transactions Foreign currency

(in thousands) Derivative transactions Foreign currency

adjustments Total

Balance as of December 31, 2024

Balance as of March 31, 2025

$ 15,436 $ ( 76,887 ) $ ( 61,451 )

Other comprehensive income (loss) before reclassifications — ( 5,910 ) 9,813 3,903

Other comprehensive loss before reclassifications ( 24,065 ) 20,550 ( 3,515 )

Amounts reclassified from accumulated other comprehensive loss (1)

( 1,881 ) — ( 1,881 )

Net other comprehensive income (loss) during the period

Net other comprehensive loss during the period ( 25,946 ) 20,550 ( 5,396 )

Balance as of June 30, 2025

$ ( 10,510 ) $ ( 56,337 ) $ ( 66,847 )

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations.

Refer to Note 11 for further information regarding reclassifications.

(in thousands) Derivative transactions Foreign currency

adjustments Total

Balance as of March 31, 2024

$ 13,466 $ ( 64,657 ) $ ( 51,191 )

Other comprehensive loss before reclassifications 5,451 ( 7,876 ) ( 2,425 )

Amounts reclassified from accumulated other comprehensive loss (1)

( 1,394 ) — ( 1,394 )

Net other comprehensive loss during the period 4,057 ( 7,876 ) ( 3,819 )

Balance as of June 30, 2024

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

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations.

Refer to Note 11 for further information regarding reclassifications.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 16

Notes to unaudited Condensed Consolidated Financial Statements

(in thousands) Available-for-

3 unchanged sentences

$ 84 $ 23,394 $ ( 86,700 ) $ ( 63,222 )

Other comprehensive income (loss) before reclassifications ( 145 ) 11,727 ( 14,987 ) ( 3,405 )

Other comprehensive income before reclassifications — ( 29,975 ) 30,363 388

Amounts reclassified from accumulated other comprehensive loss (1)

( 84 ) ( 3,929 ) — ( 4,013 )

Net other comprehensive income (Ioss) during the period

Net other comprehensive loss during the period ( 84 ) ( 33,904 ) 30,363 ( 3,625 )

Balance as of June 30, 2025

$ — $ ( 10,510 ) $ ( 56,337 ) $ ( 66,847 )

Balance as of March 31, 2024

(1) Amounts reclassified are recorded in Net sales , Cost of sales , or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations.

Refer to Note 11 for further information regarding reclassifications .

(in thousands) Available-for-

sale securities Derivative transactions Foreign currency

adjustments Total

Balance as of December 31, 2023

$ 145 $ 3,689 $ ( 49,670 ) $ ( 45,836 )

Other comprehensive loss before reclassifications — 17,178 ( 22,863 ) ( 5,685 )

Amounts reclassified from accumulated other comprehensive loss (1)

( 145 ) ( 3,344 ) — ( 3,489 )

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

Balance as of June 30, 2024

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

(1) Amounts reclassified are recorded in Net sales , Cost of sales , or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations.

15 unchanged sentences

The Company also uses currency forward contracts not formally designated as hedges to manage the consolidated currency exchange rate risk associated with the remeasurement of non-functional currency denominated monetary assets and liabilities by subsidiaries that use U.S.

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 14

Notes to unaudited Condensed Consolidated Financial Statements

dollars, euros, Canadian dollars, yen, renminbi, or won as their functional currency.

1 unchanged sentence

The gains and losses generated on these currency forward contracts not formally designated as hedges are expected to be largely offset in Other non-operating income, net by the gains and losses generated from the remeasurement of the non-functional currency denominated monetary assets and liabilities.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 17

Notes to unaudited Condensed Consolidated Financial Statements

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

(in thousands) March 31, 2025 December 31, 2024 March 31, 2024

(in thousands) June 30, 2025 December 31, 2024 June 30, 2024

Derivative instruments designated as cash flow hedges:

2 unchanged sentences

Currency forward contracts $ 279,092 $ 263,103 $ 377,391

As of March 31, 2025, $ 16.3 million of deferred net gains on both outstanding and matured derivatives recorded in Accumulated other comprehensive 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.

As of June 30, 2025, $ 1.1 million of deferred net gains on both outstanding and matured derivatives recorded in Accumulated other comprehensive 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 U.S.

dollar exchange rates in effect against the euro, renminbi, Canadian dollar, won, and yen as well as the euro exchange rate in effect against the pound sterling.

As of March 31, 2025, 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 $ 7.7 million as of March 31, 2025.

As of June 30, 2025, 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 $ 1.8 million as of June 30, 2025.

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

1 unchanged sentence

The Company has not pledged assets or posted collateral as a requirement for entering into or maintaining derivative positions.

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 15

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

(in thousands) Balance Sheet Classification March 31, 2025 December 31, 2024 March 31, 2024

(in thousands) Balance Sheet Classification June 30, 2025 December 31, 2024 June 30, 2024

Derivative instruments designated as cash flow hedges:

10 unchanged sentences

Currency forward contracts Accrued liabilities $ 1,478 $ 872 $ 993

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 18

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

Classification Three Months Ended March 31,

Classification Three Months Ended June 30,

Six Months Ended June 30,

(in thousands) 2025 2024 2025 2024

1 unchanged sentence

Derivative instruments designated as cash flow hedges:

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

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

— $ ( 24,065 ) $ 5,451 $ ( 29,975 ) $ 17,178

3 unchanged sentences

Cost of sales $ 2,535 $ 2,005 $ 5,666 $ 4,976

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

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

Other non-operating income, net

$ ( 54 ) $ — $ ( 54 ) $ 68

Derivative instruments not designated as cash flow hedges:

5 unchanged sentences

Fair value is defined as an exit price, representing the amount that the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

COLUMBIA SPORTSWEAR COMPANY | Q1 2025 FORM 10-Q | 16

Notes to unaudited Condensed Consolidated Financial Statements

Level 1 — observable inputs such as quoted prices for identical assets or liabilities in active liquid markets;

5 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.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 19

Notes to unaudited Condensed Consolidated Financial Statements

Assets and liabilities measured at fair value on a recurring basis are as follows:

As of March 31, 2025

As of June 30, 2025

(in thousands) Level 1 Level 2 Level 3 Total

60 unchanged sentences

Assets and liabilities measured at fair value on a recurring basis are as follows:

As of March 31, 2024

As of June 30, 2024

(in thousands) Level 1 Level 2 Level 3 Total

24 unchanged sentences

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

NOTE 13 — SUBSEQUENT EVENTS

On July 4, 2025, Public Law No:

119-21 was enacted in the U.S.

The legislation includes, among other provisions, changes to U.S.

corporate income tax law including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act.

The Company is currently assessing the impact of the legislation on its consolidated financial statements.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 22

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