What changed in this filing

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Item 1. Financial Statements

2025-11-06 compared with 2025-08-07 · 180 added, 134 removed, 618 unchanged (34% of the section changed)

1 unchanged sentence

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in thousands) June 30,

(in thousands) September 30,

2025 December 31,

2024 June 30,

2024 September 30,

Current assets:

42 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) 2025 2024 2025 2024

3 unchanged sentences

Selling, general and administrative expenses 380,892 361,243 1,060,991 1,013,262

Impairment of goodwill and intangible assets

29,000 — 29,000 —

Net licensing income 5,460 6,225 15,311 16,145

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

Operating income

67,386 112,541 90,303 133,420

Interest income, net 2,870 5,364 14,525 22,905

Other non-operating income, net 732 1,283 4,447 2,030

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:

Income before income tax

70,988 119,188 109,275 158,355

Income tax expense

18,983 29,031 25,218 37,639

$ 52,005 $ 90,157 $ 84,057 $ 120,716

Earnings per share:

Basic $ 0.95 $ 1.56 $ 1.53 $ 2.05

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) 2025 2024 2025 2024

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

Other comprehensive loss:

$ 52,005 $ 90,157 $ 84,057 $ 120,716

Other comprehensive income (loss):

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

4 unchanged sentences

( 4,272 ) 20,477 26,091 ( 2,386 )

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

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

Other comprehensive income (loss) 772 5,572 ( 2,853 ) ( 3,602 )

Comprehensive income $ 52,777 $ 95,729 $ 81,204 $ 117,114

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) 2025 2024

1 unchanged sentence

Net income $ 84,057 $ 120,716

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

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation and amortization 42,147 42,187

4 unchanged sentences

18,060 18,478

Loss on impairment of goodwill and intangible assets 29,000 —

Other, net ( 2,463 ) ( 11,278 )

9 unchanged sentences

Other liabilities 3,903 2,661

Net cash provided by (used in) operating activities ( 62,886 ) 108,893

Net cash used in operating activities ( 333,443 ) ( 76,608 )

Cash flows from investing activities:

18 unchanged sentences

Property, plant and equipment acquired through increase in liabilities $ 10,323 $ 12,224

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, 2025

Balance, June 30, 2025

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

Net loss — — ( 10,196 ) — ( 10,196 )

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

— — 52,005 — 52,005

Other comprehensive income

— — — 772 772

Cash dividends ($ 0.30 per share)

1 unchanged sentence

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

13 ( 155 ) — — ( 155 )

Share-based compensation expense — 6,261 — — 6,261

1 unchanged sentence

Excise taxes related to repurchase of common stock — ( 393 ) — — ( 393 )

Balance, June 30, 2025

Balance, September 30, 2025

54,060 $ — $ 1,722,006 $ ( 66,075 ) $ 1,655,931

(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 )

— — 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

13 unchanged sentences

Excise taxes related to repurchase of common stock — ( 1,524 ) — — ( 1,524 )

Balance, June 30, 2025

Balance, September 30, 2025

54,060 $ — $ 1,722,006 $ ( 66,075 ) $ 1,655,931

15 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

7 unchanged sentences

Note 4 Share-Based Compensation 13

Note 5 Earnings (Loss) Per Share 14

Note 5 Earnings Per Share 14

Note 6 Intangible Assets, Net and Goodwill 14

5 unchanged sentences

Note 12 Fair Value Measures 20

Note 13 Subsequent Events 22

COLUMBIA SPORTSWEAR COMPANY | Q3 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 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 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, 2025, December 31, 2024 and September 30, 2024, the results of operations for the three and nine months ended September 30, 2025 and 2024, and cash flows for the nine months ended September 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 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.

therefore, results of operations for the three and nine months ended September 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.

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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.

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

The amendments are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted.

The amendments may be applied prospectively or retrospectively.

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

In September 2025, the FASB issued ASU No.

2025-06 ("ASU 2025-06"), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40):

Targeted Improvements to the Accounting for Internal-Use Software, which includes amendments intended to modernize the accounting for software costs by removing references to software development stages and clarifying the capitalization threshold.

The amendments are effective for annual periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted.

The amendments may be applied prospectively, retrospectively, or through a modified transition approach.

The Company is currently evaluating the ASU to determine the impact on the Company's consolidated financial statements and related disclosures.

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 8

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 2 — REVENUES

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United States ("U.S."), Latin America and Asia Pacific ("LAAP"), Europe, Middle East and Africa ("EMEA"), and Canada.

COLUMBIA SPORTSWEAR COMPANY | Q2 2025 FORM 10-Q | 8

Notes to unaudited Condensed Consolidated Financial Statements

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, 2025

Three Months Ended September 30, 2025

(in thousands)

8 unchanged sentences

Total $ 546,690 $ 143,358 $ 164,461 $ 88,916 $ 943,425

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

Six Months Ended June 30, 2025

Nine Months Ended September 30, 2025

(in thousands)

11 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2024

Nine Months Ended September 30, 2024

(in thousands)

10 unchanged sentences

PERFORMANCE OBLIGATIONS

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.

For the three and nine months ended September 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 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.

As of September 30, 2025, December 31, 2024 and September 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

11 unchanged sentences

Intersegment net sales and intersegment profits, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material.

Unallocated corporate expenses consist of expenses incurred by centrally-managed departmental functions, including information technology, certain supply chain functions, finance, human resources, and legal, as well as executive compensation, unallocated benefit program expense, and other miscellaneous costs.

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

1 unchanged sentence

Notes to unaudited Condensed Consolidated Financial Statements

Three Months Ended June 30, 2025

Three Months Ended September 30, 2025

(in thousands)

6 unchanged sentences

16,708 5,694 3,714 4,035 30,151

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

Segment operating income

97,054 21,118 38,221 22,821 179,214

Reconciliation to income before income tax:

Unallocated corporate expenses

Operating loss ( 23,591 )

Operating income

Interest income, net

Other non-operating income, net

Loss before income tax $ ( 16,589 )

Income before income tax

(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

Three Months Ended September 30, 2024

(in thousands)

6 unchanged sentences

19,347 7,156 3,943 4,763 35,209

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

Segment operating income 115,356 20,435 33,238 22,369 191,398

Reconciliation to income before income tax:

Unallocated corporate expenses

Operating loss ( 23,802 )

Operating income 112,541

Interest income, net

Other non-operating income, net

Loss before income tax $ ( 14,982 )

Income before income tax $ 119,188

Six Months Ended June 30, 2025

Nine Months Ended September 30, 2025

(in thousands)

14 unchanged sentences

Income before income tax $ 109,275

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2024

Nine Months Ended September 30, 2024

(in thousands)

17 unchanged sentences

The following table presents segment depreciation and amortization expense information:

Three Months Ended June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended

September 30,

(in thousands)

9 unchanged sentences

(in thousands)

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

September 30, 2025 December 31, 2024 September 30, 2024

$ 500,095 $ 450,014 $ 521,705

8 unchanged sentences

CONCENTRATIONS

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

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

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 12

5 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 June 30,

Six Months Ended June 30,

Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands) 2025 2024 2025 2024

2 unchanged sentences

Share-based compensation expense - liability awards

( 517 ) — ( 71 ) —

Total $ 5,744 $ 6,470 $ 17,989 $ 18,478

STOCK OPTIONS

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.

During the nine months ended September 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 September 30, 2025, unrecognized costs related to outstanding stock options, which are net of estimated forfeitures, totaled $ 6.8 million, before any related tax benefit.

These unrecognized costs related to stock options are expected to be recognized over a weighted average period of 2.01 years.

1 unchanged sentence

Time-Based Restricted Stock Units

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.

During the nine months ended September 30, 2025, the Company granted 371,810 time-based restricted stock units ("time-based RSUs") at a weighted average grant date fair value of $ 79.61 per time-based RSU.

As of September 30, 2025, unrecognized costs related to outstanding time-based RSUs, which are net of estimated forfeitures, totaled $ 37.6 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 2.59 years.

Performance-Based Restricted Stock Units

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.

During the nine months ended September 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 September 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 $ 0.7 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 1.50 years.

Market-Based Restricted Stock Units

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.

During the nine months ended September 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 September 30, 2025, unrecognized costs related to outstanding market-based RSUs, which are net of estimated forfeitures, totaled $ 2.6 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 1.75 years.

2 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

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.

During the nine months ended September 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 September 30, 2025, the fair value of all outstanding market-based long-term cash awards was $ 0.8 million and the Company had unrecognized compensation costs of $ 0.5 million.

These unrecognized costs are expected to be recognized over a weighted average period of 1.67 years.

NOTE 5 - EARNINGS (LOSS) PER SHARE

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

NOTE 5 — 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)

2025 2024 2025 2024

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

54,540 57,785 55,013 58,896

Effect of dilutive stock options and restricted stock units 18 151 101 147

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

54,558 57,936 55,114 59,043

Earnings (loss) per share:

Earnings per share:

Basic $ 0.95 $ 1.56 $ 1.53 $ 2.05

2 unchanged sentences

2,691 1,957 2,384 2,005

(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.

NOTE 6 — INTANGIBLE ASSETS, NET AND GOODWILL

Indefinite-lived intangible assets (which consists of trade names and trademarks) (collectively, "trade names") and goodwill reporting units are tested for impairment annually or when events or changes in circumstances indicate that it is more likely than not that the fair value of the asset is less than its carrying amount (a "triggering event").

During the three months ended September 30, 2025, declines in forecasted revenues and gross margins, primarily as a result of impacts from incremental tariffs and a difficult macroeconomic environment, led to triggering events for the prAna and Mountain Hardwear trade names and goodwill reporting units.

As a result, the Company performed interim quantitative impairment tests where the Company compared the estimated fair values of the prAna and Mountain Hardwear trade names and goodwill reporting units to their carrying values.

The fair values of the prAna and Mountain Hardwear trade names were estimated using a relief-from-royalty method under the income approach.

The key assumptions used in the relief-from-royalty method were the Company's estimates of projected revenues, royalty rate, and discount rate, taking into consideration market and industry conditions.

In the Company's interim quantitative impairment test of the prAna trade name, the fair value of the prAna trade name was less than its carrying value of $ 51.8 million and, therefore, an impairment charge of $ 8.0 million was recorded.

In the Company's interim quantitative impairment test of the Mountain Hardwear trade name, the fair value of the Mountain Hardwear trade name exceeded its carrying value and, therefore, no impairment was recorded.

There was no triggering event or impairment charge recorded for trade names during the three and nine months ended September 30, 2024.

The fair values of the prAna and Mountain Hardwear goodwill reporting units were estimated using a combination of discounted cash flow and market-based valuation methods.

The key assumptions used in the discounted cash flow method were cash flow projections and the discount rate.

Cash flow projections were developed, in part, from the Company's annual and long-range planning processes.

The discount rate was the estimated weighted-average cost of capital of each reporting unit from a market-participant perspective.

The key assumptions

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 14

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 6 — INTANGIBLE ASSETS, NET AND GOODWILL

used in the market-based valuation method were market multiples for guideline public companies.

In the Company's interim quantitative impairment test of the prAna reporting unit, the fair value of the prAna reporting unit was less than its carrying value and, therefore, an impairment charge of $ 8.8 million was recorded.

In the Company's interim quantitative impairment test of the Mountain Hardwear reporting unit, the fair value of the Mountain Hardwear reporting unit was less than its carrying value and, therefore, an impairment charge of $ 12.2 million was recorded.

There was no triggering event or impairment charge recorded for goodwill during the three and nine months ended September 30, 2024.

INTANGIBLE ASSETS, NET

1 unchanged sentence

(in thousands)

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

September 30, 2025 December 31, 2024 September 30, 2024

Intangible assets with definite lives:

9 unchanged sentences

Intangible assets, net $ 71,221 $ 79,221 $ 79,221

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.

Intangible assets subject to amortization were fully amortized for three months ended September 30, 2025 and September 30, 2024, and for the nine months ended September 30, 2025.

For the nine months ended September 30, 2024, amortization expense for intangible assets subject to amortization was $ 0.7 million.

Substantially all of the Company's goodwill is recorded in the U.S.

The following table sets forth the changes in Goodwill .

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 15

Notes to unaudited Condensed Consolidated Financial Statements

(in thousands)

Balance as of September 30, 2024

Accumulated impairment losses

Carrying value 26,694

Impairment losses during 2024

Balance as of December 31, 2024

Accumulated impairment losses

Carrying value 26,694

Impairment losses during 2025

Balance as of September 30, 2025

Accumulated impairment losses

Carrying value $ 5,694

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 $ 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

The Company’s outstanding payables under the SCF program were $ 38.1 million, $ 81.3 million and $ 27.2 million as of September 30, 2025, December 31, 2024 and September 30, 2024, respectively, and were recorded within Accounts payable on the unaudited Condensed Consolidated Balance Sheets.

NOTE 8 — COMMITMENTS AND CONTINGENCIES

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NOTE 9 — SHAREHOLDERS' EQUITY

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.

Since the inception of the Company's stock repurchase plan in 2004 through September 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 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.

Under this program as of September 30, 2025, the Company had repurchased 40.4 million shares at an aggregate purchase price of $ 2,144.1 million and had $ 455.9 million remaining available under the share repurchase program, excluding excise tax.

During the three and

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 16

Notes to unaudited Condensed Consolidated Financial Statements

nine months ended September 30, 2025, the Company repurchased an aggregate of $ 40.0 million and $ 171.7 million, respectively, of common stock under this program, excluding excise tax.

NOTE 10 — ACCUMULATED OTHER COMPREHENSIVE LOSS

3 unchanged sentences

adjustments Total

Balance as of March 31, 2025

Balance as of June 30, 2025

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

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

Other comprehensive income before reclassifications

7,590 ( 4,272 ) 3,318

Amounts reclassified from accumulated other comprehensive loss (1)

( 2,546 ) — ( 2,546 )

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

Balance as of June 30, 2025

Net other comprehensive income during the period

5,044 ( 4,272 ) 772

Balance as of September 30, 2025

$ ( 5,466 ) $ ( 60,609 ) $ ( 66,075 )

(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.

2 unchanged sentences

adjustments Total

Balance as of March 31, 2024

Balance as of June 30, 2024

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

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

Other comprehensive income before reclassifications ( 9,895 ) 20,477 10,582

Amounts reclassified from accumulated other comprehensive loss (1)

( 5,010 ) — ( 5,010 )

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

Balance as of June 30, 2024

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

Balance as of September 30, 2024

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

1 unchanged sentence

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-

7 unchanged sentences

Net other comprehensive loss during the period ( 84 ) ( 28,860 ) 26,091 ( 2,853 )

Balance as of June 30, 2025

Balance as of September 30, 2025

$ — $ ( 5,466 ) $ ( 60,609 ) $ ( 66,075 )

1 unchanged sentence

Refer to Note 11 for further information regarding reclassifications .

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 17

Notes to unaudited Condensed Consolidated Financial Statements

(in thousands) Available-for-

3 unchanged sentences

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

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

Other comprehensive income before reclassifications — 7,283 ( 2,386 ) 4,897

Amounts reclassified from accumulated other comprehensive loss (1)

1 unchanged sentence

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

Balance as of June 30, 2024

Balance as of September 30, 2024

$ — $ 2,618 $ ( 52,056 ) $ ( 49,438 )

14 unchanged sentences

Time value components ("forward points") for forward contracts are included in the fair value of the cash flow hedge.

These costs or benefits are included in Accumulated other comprehensive income (loss) until the underlying hedged transaction is recognized in either Net sales or Cost of sales , at which time, the forward points will also be recognized as a component of Net income .

These costs or benefits are included in Accumulated other comprehensive loss until the underlying hedged transaction is recognized in either Net sales or Cost of sales , at which time, the forward points will also be recognized as a component of Net income .

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.

2 unchanged sentences

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

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

Derivative instruments designated as cash flow hedges:

2 unchanged sentences

Currency forward contracts $ 462,521 $ 263,103 $ 471,927

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.

As of September 30, 2025, $ 0.1 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

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 18

Notes to unaudited Condensed Consolidated Financial Statements

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 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.

As of September 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 $ 2.2 million as of September 30, 2025.

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

2 unchanged sentences

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

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

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

Derivative instruments designated as cash flow hedges:

12 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) 2025 2024 2025 2024

1 unchanged sentence

Derivative instruments designated as cash flow hedges:

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

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

— $ 7,590 $ ( 9,895 ) $ ( 22,385 ) $ 7,283

Loss reclassified from accumulated other comprehensive loss to income for the effective portion

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

Net sales $ 257 $ ( 480 ) $ ( 223 ) $ ( 822 )

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

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

Cost of sales $ 3,053 $ 7,265 $ 8,719 $ 12,241

Gain (loss) 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 net income as a result of cash flow hedge discontinuance

Other non-operating income, net

1 unchanged sentence

Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income

Gain (loss) recognized in net income

Other non-operating income, net

13 unchanged sentences

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

As of June 30, 2025

As of September 30, 2025

(in thousands) Level 1 Level 2 Level 3 Total

28 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

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

As of December 31, 2024

28 unchanged sentences

Notes to unaudited Condensed Consolidated Financial Statements

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

As of June 30, 2024

As of September 30, 2024

(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)

20 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.

NON-RECURRING FAIR VALUE MEASUREMENTS

Refer to Note 6 in Part 1, Item 1 of this Quarterly Report on Form 10-Q for further information regarding the impairment charges recorded during the third quarter of 2025 and related fair value measurements.

The inputs used to measure the fair value of these assets are primarily significant unobservable inputs and, as such, considered Level 3 fair value measurements.

COLUMBIA SPORTSWEAR COMPANY | Q3 2025 FORM 10-Q | 23

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