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Item 1. Financial Statements

2026-08-06 compared with 2026-05-07 · 236 added, 115 removed, 511 unchanged (41% of the section changed)

1 unchanged sentence

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in thousands) March 31,

(in thousands) June 30,

2026 December 31,

43 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) 2026 2025 2026 2025

4 unchanged sentences

Net licensing income 4,643 4,929 8,811 9,851

Operating income

41,993 46,508

Operating income (loss) 30,884 ( 23,591 ) 72,877 22,917

Interest income, net 6,216 4,838 11,099 11,655

Other non-operating income, net 397 1,551

Income before income tax

47,273 54,876

Income tax expense

12,965 12,628

$ 34,308 $ 42,248

Earnings per share:

Other non-operating income (expense), net ( 815 ) 2,164 ( 418 ) 3,715

Income (loss) before income tax 36,285 ( 16,589 ) 83,558 38,287

Income tax expense (benefit) 9,732 ( 6,393 ) 22,697 6,235

Net income (loss) $ 26,553 $ ( 10,196 ) $ 60,861 $ 32,052

Earnings (loss) per share:

Basic $ 0.52 $ ( 0.19 ) $ 1.17 $ 0.58

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) 2026 2025 2026 2025

$ 34,308 $ 42,248

Other comprehensive income:

Net income (loss) $ 26,553 $ ( 10,196 ) $ 60,861 $ 32,052

Other comprehensive income (loss):

Change in available-for-sale securities (net of tax effect of $ 0 , $ 0 , $ 31 , and $ 26 , respectively)

4 unchanged sentences

( 2,382 ) 20,550 ( 11,384 ) 30,363

Other comprehensive income

Comprehensive income $ 35,376 $ 44,019

Other comprehensive income (loss) 252 ( 5,396 ) 1,320 ( 3,625 )

Comprehensive income (loss) $ 26,805 $ ( 15,592 ) $ 62,181 $ 28,427

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) 2026 2025

1 unchanged sentence

Net income $ 60,861 $ 32,052

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

Depreciation and amortization 13,691 13,465

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

Depreciation and amortization expense 27,505 27,931

Non-cash lease expense 45,384 41,274

2 unchanged sentences

Share-based compensation

13,514 11,799

Other, net 2,730 ( 2,200 )

9 unchanged sentences

Other liabilities ( 1,172 ) 3,482

Net cash used in operating activities ( 77,542 ) ( 32,038 )

Net cash provided by (used in) operating activities 37,457 ( 62,886 )

Cash flows from investing activities:

2 unchanged sentences

Capital expenditures ( 25,813 ) ( 30,036 )

Net cash provided by (used in) investing activities 124,573 ( 61,431 )

Net cash provided by investing activities 237,275 110,582

Cash flows from financing activities:

7 unchanged sentences

Net effect of exchange rate changes on cash ( 755 ) 13,501

Net decrease in cash and cash equivalents ( 122,687 ) ( 208,530 )

Net increase (decrease) in cash and cash equivalents 90,277 ( 104,065 )

Cash and cash equivalents, beginning of period 442,028 531,869

10 unchanged sentences

Outstanding Amount

Balance, March 31, 2026

51,141 $ — $ 1,646,555 $ ( 64,585 ) $ 1,581,970

— — 26,553 — 26,553

Other comprehensive income

— — — 252 252

Cash dividends ($ 0.30 per share)

— — ( 15,351 ) — ( 15,351 )

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

52 1,290 — — 1,290

Share-based compensation expense — 6,854 — — 6,854

Excise taxes related to repurchase of common stock — 34 — — 34

Balance, June 30, 2026

51,193 $ 8,178 $ 1,657,757 $ ( 64,333 ) $ 1,601,602

(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, December 31, 2025

11 unchanged sentences

Excise taxes related to repurchase of common stock — ( 1,379 ) — — ( 1,379 )

Balance, March 31, 2026

Balance, June 30, 2026

51,193 $ 8,178 $ 1,657,757 $ ( 64,333 ) $ 1,601,602

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 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

3 unchanged sentences

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

7 unchanged sentences

Note 4 Share-Based Compensation 13

Note 5 Earnings Per Share 11

Note 5 Earnings (Loss) Per Share 14

Note 6 Intangible Assets, Net and Goodwill 15

9 unchanged sentences

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, 2026 and December 31, 2025, the results of operations for the three months ended March 31, 2026 and 2025, and cash flows for the three months ended March 31, 2026 and 2025.

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, 2026 and December 31, 2025, the results of operations for the three and six months ended June 30, 2026 and 2025, and cash flows for the six months ended June 30, 2026 and 2025.

The December 31, 2025 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, 2025.

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

therefore, results of operations for the three months ended March 31, 2026 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, 2026 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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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, 2026

Three Months Ended June 30, 2026

(in thousands)

2 unchanged sentences

Apparel, accessories and equipment $ 276,509 $ 95,016 $ 106,486 $ 19,357 $ 497,368

Footwear 43,577 30,917 36,629 5,871 116,994

Total $ 320,086 $ 125,933 $ 143,115 $ 25,228 $ 614,362

Channel net sales:

Wholesale $ 124,137 $ 67,947 $ 116,178 $ 10,091 $ 318,353

Direct-to-consumer 195,949 57,986 26,937 15,137 296,009

Total $ 320,086 $ 125,933 $ 143,115 $ 25,228 $ 614,362

Three Months Ended June 30, 2025

(in thousands)

LAAP EMEA Canada Total

Product category net sales:

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

Six Months Ended June 30, 2026

(in thousands)

LAAP EMEA Canada Total

Product category net sales:

Apparel, accessories and equipment

$ 629,214 $ 220,064 $ 212,977 $ 58,206 $ 1,120,461

5 unchanged sentences

Total $ 742,540 $ 286,176 $ 288,464 $ 76,195 $ 1,393,375

Three Months Ended March 31, 2025

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 9

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2025

(in thousands)

10 unchanged sentences

CONTRACT BALANCES

As of March 31, 2026 and December 31, 2025, 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, 2026 and December 31, 2025, 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

5 unchanged sentences

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

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 8

Notes to unaudited Condensed Consolidated Financial Statements

The Company’s CODM is the Company’s Chief Executive Officer.

6 unchanged sentences

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

Three Months Ended March 31, 2026

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 10

Notes to unaudited Condensed Consolidated Financial Statements

Three Months Ended June 30, 2026

(in thousands)

6 unchanged sentences

15,946 6,879 5,077 3,408 31,310

Segment operating income (loss) 68,023 13,336 20,407 ( 3,028 ) 98,738

Reconciliation to income before income tax:

Unallocated corporate expenses

Operating income

Interest income, net

Other non-operating expense, net ( 815 )

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, 2025

(in thousands)

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

Cost of sales

165,780 53,973 74,248 14,137 308,138

Segment selling, general and administrative expenses

134,401 44,736 29,833 11,161 220,131

Other segment items (a)

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 loss before income tax:

Unallocated corporate expenses

Operating loss ( 23,591 )

Interest income, net

Other non-operating income, net

Loss before income tax $ ( 16,589 )

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

Six Months Ended June 30, 2026

(in thousands)

$ 742,540 $ 286,176 $ 288,464 $ 76,195 $ 1,393,375

Cost of sales

320,257 128,634 151,979 39,111 639,981

Segment selling, general and administrative expenses

271,259 102,957 78,205 24,611 477,032

Other segment items (a)

33,989 14,354 9,722 7,281 65,346

Segment operating income

4 unchanged sentences

Interest income, net

Other non-operating income, net

Other non-operating expense, net ( 418 )

Income before income tax

Three Months Ended March 31, 2025

Six Months Ended June 30, 2025

(in thousands)

15 unchanged sentences

The following table presents segment depreciation and amortization expense information:

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 9

Notes to unaudited Condensed Consolidated Financial Statements

Three Months Ended March 31,

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands)

2026 2025 2026 2025

Depreciation and amortization expense:

6 unchanged sentences

The following table presents segment asset information:

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 12

Notes to unaudited Condensed Consolidated Financial Statements

(in thousands)

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

$ 524,339 $ 416,041

8 unchanged sentences

CONCENTRATIONS

No single customer accounted for 10% or more of Net sales for the three months ended March 31, 2026 and 2025.

No single customer accounted for 10% or more of Net sales for the three and six months ended June 30, 2026 and 2025.

NOTE 4 — SHARE-BASED COMPENSATION

The Company's Stock Incentive Plan allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units, and other share-based or cash-based awards to officers, executives, key employees and nonemployee members of the Company’s Board of Directors.

At its Annual Meeting held on June 10, 2026, the Company's shareholders approved the Company's Amended and Restated 2020 Stock Incentive Plan (the "Amended Plan"), and the Amended Plan became effective on that date.

The Amended Plan provides for equity-based awards covering up to 9 million shares of the Company's common stock, an increase of 4.5 million shares from the 4.5 million shares previously authorized for issuance under the 2020 Stock Incentive Plan (including the maximum 1.5 million shares that previously became available for issuance from the Company's 1997 Stock Incentive Plan).

As of June 30, 2026, 5,893,262 shares were available for future grants under the Amended Plan.

The Amended Plan allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units, and other share-based or cash-based awards to officers, executives, key employees, and nonemployee members of the Company's Board of Directors.

The Company uses original issuance shares to satisfy share-based payments.

1 unchanged sentence

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) 2026 2025 2026 2025

Share-based compensation expense - equity awards

$ 6,854 $ 6,575 $ 13,514 $ 11,799

Share-based compensation expense - liability awards

290 163 480 446

$ 7,144 $ 6,738 $ 13,994 $ 12,245

STOCK OPTIONS

During the three months ended March 31, 2026, the Company granted a total of 252,530 stock options at a weighted average grant date fair

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 10

Notes to unaudited Condensed Consolidated Financial Statements

value of $ 12.95 per option.

As of March 31, 2026, unrecognized costs related to outstanding stock options, which are net of estimated forfeitures, totaled $ 7.2 million, before any related tax benefit.

During the six months ended June 30, 2026, the Company granted a total of 252,530 stock options at a weighted average grant date fair value of $ 12.95 per option.

As of June 30, 2026, unrecognized costs related to outstanding stock options, which are net of estimated forfeitures, totaled $ 6.2 million, before any related tax benefit.

These unrecognized costs related to stock options are expected to be recognized over a weighted average period of 2.69 years.

1 unchanged sentence

Time-Based Restricted Stock Units

During the three months ended March 31, 2026, the Company granted 459,880 time-based restricted stock units ("time-based RSUs") at a weighted average grant date fair value of $ 57.27 per time-based RSU.

As of March 31, 2026, unrecognized costs related to outstanding time-based RSUs, which are net of estimated forfeitures, totaled $ 49.8 million, before any related tax benefit.

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 13

Notes to unaudited Condensed Consolidated Financial Statements

During the six months ended June 30, 2026, the Company granted 498,398 time-based restricted stock units ("time-based RSUs") at a weighted average grant date fair value of $ 57.64 per time-based RSU.

As of June 30, 2026, unrecognized costs related to outstanding time-based RSUs, which are net of estimated forfeitures, totaled $ 46.4 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 2.92 years.

Performance-Based Restricted Stock Units

During the three months ended March 31, 2026, the Company granted 41,856 performance-based restricted stock units (“performance-based RSUs”), 5,269 of which were granted at a weighted average grant date fair value of $ 56.95 per performance-based RSU.

The remaining 36,587 performance-based RSUs were granted without defined performance targets and, accordingly, did not meet all criteria for grant date fair value to be established in accordance with GAAP.

Grant date fair value for the 36,587 performance-based RSUs will not be determined until all grant date criteria are met.

As of March 31, 2026, 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 $ 2.4 million, before any related tax benefit.

During the six months ended June 30, 2026, the Company granted 41,856 performance-based restricted stock units (“performance-based RSUs”), at a weighted average grant date fair value of $ 58.81 per performance-based RSU.

As of June 30, 2026, 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 $ 2.1 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 1.70 years.

Market-Based Restricted Stock Units

During the three months ended March 31, 2026, the Company granted 36,587 market-based restricted stock units (“market-based RSUs”) at a weighted average grant date fair value of $ 75.82 per market-based RSU.

As of March 31, 2026, unrecognized costs related to outstanding market-based RSUs, which are net of estimated forfeitures, totaled $ 4.1 million, before any related tax benefit.

During the six months ended June 30, 2026, the Company granted 36,587 market-based restricted stock units (“market-based RSUs”) at a weighted average grant date fair value of $ 75.82 per market-based RSU.

As of June 30, 2026, unrecognized costs related to outstanding market-based RSUs, which are net of estimated forfeitures, totaled $ 3.5 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 1.71 years.

Market-Based Long-Term Cash Awards

During the three months ended March 31, 2026, the Company issued long-term cash awards to certain of its executive officers with a target value of $ 1.6 million that includes both a market and time-based vesting condition.

As of March 31, 2026, the fair value of all outstanding market-based long-term cash awards was $ 3.3 million and the Company had unrecognized compensation costs of $ 2.3 million.

During the six months ended June 30, 2026, the Company issued long-term cash awards to certain of its executive officers with a target value of $ 1.6 million that includes both a market and time-based vesting condition.

As of June 30, 2026, the fair value of all outstanding market-based long-term cash awards was $ 3.3 million and the Company had unrecognized compensation costs of $ 2.0 million.

These unrecognized costs are expected to be recognized over a weighted average period of 1.72 years.

NOTE 5 — EARNINGS PER SHARE

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

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.

Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock.

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 11

Notes to unaudited Condensed Consolidated Financial Statements

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

2026 2025 2026 2025

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

51,170 54,777 51,894 55,253

Effect of dilutive stock options and restricted stock units 94 — 86 142

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

51,264 54,777 51,980 55,395

Earnings per share:

Earnings (loss) per share:

Basic $ 0.52 $ ( 0.19 ) $ 1.17 $ 0.58

1 unchanged sentence

Weighted average common shares excluded (1)

2,574 2,929 2,469 2,230

(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 or market conditions that had not been met.

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 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, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Intangible assets with definite lives:

9 unchanged sentences

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

Intangible assets subject to amortization were fully amortized as of March 31, 2026 and December 31, 2025.

Intangible assets subject to amortization were fully amortized as of June 30, 2026 and December 31, 2025.

There have been no changes to the Company's goodwill as described in Note 9 in Part II, Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 12

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 7 — SHORT-TERM BORROWINGS AND CREDIT LINES

13 unchanged sentences

The Domestic Credit Agreement includes a financial covenant to maintain a funded debt ratio of not greater than 3.75 to 1.00.

In addition, the Domestic Credit Agreement includes customary covenants that, among other things, limit or restrict the ability of the Company and its subsidiaries to incur additional indebtedness and liens, engage in mergers, acquisitions and dispositions, and engage in transactions with affiliates, as well as restrict the amount of certain payments, including dividends and share buybacks in the event the Company's funded debt ratio is greater than a set amount.

As of March 31, 2026, the Company was in compliance with all associated covenants.

As of March 31, 2026 and December 31, 2025, there was no balance outstanding.

In addition, the Domestic Credit Agreement includes customary covenants that, among other things, limit or restrict the ability of the Company and its

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 15

Notes to unaudited Condensed Consolidated Financial Statements

subsidiaries to incur additional indebtedness and liens, engage in mergers, acquisitions and dispositions, and engage in transactions with affiliates, as well as restrict the amount of certain payments, including dividends and share buybacks in the event the Company's funded debt ratio is greater than a set amount.

As of June 30, 2026, the Company was in compliance with all associated covenants.

As of June 30, 2026 and December 31, 2025, there was no balance outstanding.

NOTE 8 — 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 $ 43.4 million and $ 71.9 million as of March 31, 2026 and December 31, 2025, respectively, and were recorded within Accounts payable on the unaudited Condensed Consolidated Balance Sheets.

The Company’s outstanding payables under the SCF program were $ 121.0 million and $ 71.9 million as of June 30, 2026 and December 31, 2025, respectively, and were recorded within Accounts payable on the unaudited Condensed Consolidated Balance Sheets.

NOTE 9 — COMMITMENTS AND CONTINGENCIES

1 unchanged sentence

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 | Q1 2026 FORM 10-Q | 13

Notes to unaudited Condensed Consolidated Financial Statements

On February 20, 2026, the U.S.

Supreme Court ruled that U.S.

tariffs imposed under the International Emergency Economic Powers Act ("IEEPA") were unconstitutional.

Subsequently, the U.S.

Court of International Trade ("CIT") ruled that the collected tariffs in question shall be refunded in accordance with the law.

Customs and Border Protection ("CBP") has issued an official notice and launched a special tariff refund program to facilitate such refunds.

The Company has begun the process of requesting refunds of IEEPA tariffs paid.

At the time the IEEPA tariffs were ruled unconstitutional, the Company had already paid approximately $ 80 million of IEEPA tariffs.

As of March 31, 2026, approximately $ 55 million of that amount has been realized through cost of sales, with the remainder in inventory.

However, as of March 31, 2026, the Company did not recognize any tariff refunds in its unaudited condensed consolidated financial statements as it was unable to assert loss recovery is probable due to the uncertainty surrounding the tariff refund program.

As of the date of this report, the Company has not received any portion of the IEEPA tariff refunds which it requested.

The Company continues to monitor these developments and assess their potential impact on the Company's operations and unaudited condensed consolidated financial statements.

On March 4, 2026, the U.S.

Court of International Trade ("CIT") issued a ruling that importers that paid tariffs under the International Economic Powers Act ("IEEPA") are due refunds and directed U.S.

Customs and Border Protection ("CBP") to begin the refund process for all importers who were subject to IEEPA duties.

As of June 30, 2026, the Company received refunds of approximately $ 78 million for IEEPA tariffs previously paid, including interest.

Of this amount, $ 62 million was recognized in earnings, including a benefit of $ 60 million recognized in cost of sales, and $ 15 million was recognized as a reduction to inventory.

NOTE 10 — SHAREHOLDERS' EQUITY

Since the inception of the Company's stock repurchase plan in 2004 through March 31, 2026, 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, 2026, 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, 2026, the Company had repurchased 43.5 million shares for an aggregate purchase price of $ 2,323.5 million and had $ 276.5 million remaining available under the share repurchase program, excluding excise tax.

During the three months ended March 31, 2026 and 2025, the Company repurchased an aggregate of $ 150.0 million and $ 101.4 million, respectively, of common stock under this program, excluding excise tax.

Under this program as of June 30, 2026, the Company had repurchased 43.5 million shares for an aggregate purchase price of $ 2,323.5 million and had $ 276.5 million remaining available under the share repurchase program, excluding excise tax.

During the six months ended June 30, 2026, the Company repurchased an aggregate of $ 150.0 million of common stock under this program, excluding excise tax.

The Company did not repurchase common stock during the three months ended June 30, 2026.

For 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.

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 16

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 11 — ACCUMULATED OTHER COMPREHENSIVE LOSS

1 unchanged sentence

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

(in thousands) Derivative transactions Foreign currency

adjustments Total

Balance as of March 31, 2026

$ 5,529 $ ( 70,114 ) $ ( 64,585 )

Other comprehensive income (loss) before reclassifications 2,377 ( 2,382 ) ( 5 )

Amounts reclassified from accumulated other comprehensive loss (1)

Net other comprehensive income (loss) during the period 2,634 ( 2,382 ) 252

Balance as of June 30, 2026

$ 8,163 $ ( 72,496 ) $ ( 64,333 )

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

Refer to Note 12 for further information regarding reclassifications.

(in thousands) Derivative transactions Foreign currency

adjustments Total

Balance as of March 31, 2025

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

Other comprehensive income (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 ( 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 (expense), net on the unaudited Condensed Consolidated Statements of Operations.

Refer to Note 12 for further information regarding reclassifications.

(in thousands) Available-for-

8 unchanged sentences

Net other comprehensive income (loss) during the period ( 95 ) 12,799 ( 11,384 ) 1,320

( 95 ) 10,165 ( 9,002 ) 1,068

Balance as of March 31, 2026

Balance as of June 30, 2026

$ — $ 8,163 $ ( 72,496 ) $ ( 64,333 )

(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.

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

Refer to Note 12 for further information regarding reclassifications .

7 unchanged sentences

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

— ( 5,910 ) 9,813 3,903

Amounts reclassified from accumulated other comprehensive loss (1)

1 unchanged sentence

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

( 84 ) ( 7,958 ) 9,813 1,771

Balance as of March 31, 2025

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.

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

Refer to Note 12 for further information regarding reclassifications.

16 unchanged sentences

Non-functional currency denominated monetary assets and liabilities consists of cash and cash equivalents, short-term investments, receivables, payables, deferred income taxes, and intercompany loans and dividends.

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.

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 (expense), net by the gains and losses generated from the remeasurement of the non-functional currency denominated monetary assets and liabilities.

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

(in thousands) March 31, 2026 December 31, 2025

(in thousands) June 30, 2026 December 31, 2025

Derivative instruments designated as cash flow hedges:

2 unchanged sentences

Currency forward contracts $ 357,548 $ 261,805

As of March 31, 2026, $ 3.3 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, 2026, $ 4.8 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 | Q2 2026 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 March 31, 2026, the Company's derivative contracts had a remaining maturity of less than 4 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 $ 6.1 million as of March 31, 2026.

As of June 30, 2026, 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 $ 9.4 million as of June 30, 2026.

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 March 31, 2026 December 31, 2025

(in thousands) Balance Sheet Classification June 30, 2026 December 31, 2025

Derivative instruments designated as cash flow hedges:

10 unchanged sentences

Currency forward contracts Accrued liabilities $ 1,565 $ 676

COLUMBIA SPORTSWEAR COMPANY | Q2 2026 FORM 10-Q | 19

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) 2026 2025 2026 2025

5 unchanged sentences

Net sales $ 6 $ ( 39 ) $ 38 $ ( 480 )

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

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

Cost of sales $ ( 298 ) $ 2,535 $ ( 35 ) $ 5,666

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

Other non-operating income (expense), net

$ — $ ( 54 ) $ — $ ( 54 )

Derivative instruments not designated as cash flow hedges:

Loss recognized in net income

Other non-operating income, net

Gain (loss) recognized in net income

Other non-operating income (expense), net

$ 825 $ ( 1,349 ) $ 819 $ ( 1,961 )

COLUMBIA SPORTSWEAR COMPANY | Q1 2026 FORM 10-Q | 16

Notes to unaudited Condensed Consolidated Financial Statements

NOTE 13 — FAIR VALUE MEASURES

8 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 2026 FORM 10-Q | 20

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, 2026

As of June 30, 2026

(in thousands) Level 1 Level 2 Level 3 Total

3 unchanged sentences

— 124,508 — 124,508

Commercial paper

— 34,428 — 34,428

Time deposits (1)

4 unchanged sentences

— 89,610 — 89,610

Commercial paper

— 14,894 — 14,894

Other short-term investments:

49 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements