Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 25, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'COLUMBIA SPORTSWEAR CO | ' |
Entity Central Index Key | '0001050797 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 34,499,355 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Current Assets: | ' | ' | ' |
Cash and cash equivalents | $274,160 | $290,781 | $94,164 |
Short-term investments | 29,049 | 44,661 | 2,128 |
Accounts receivable, net of allowance of $8,371, $7,377 and $7,543, respectively | 378,032 | 334,324 | 422,756 |
Inventories, net (Note 4) | 410,111 | 363,325 | 475,733 |
Deferred income taxes | 50,342 | 50,929 | 53,905 |
Prepaid expenses and other current assets | 38,514 | 38,583 | 38,334 |
Total current assets | 1,180,208 | 1,122,603 | 1,087,020 |
Property, plant and equipment, at cost, net of accumulated depreciation of $322,161, $303,043 and $297,036, respectively | 280,682 | 260,524 | 260,423 |
Intangible assets, net (Note 5) | 36,620 | 37,618 | 37,968 |
Goodwill | 14,438 | 14,438 | 14,438 |
Other non-current assets | 22,354 | 23,659 | 27,997 |
Total assets | 1,534,302 | 1,458,842 | 1,427,846 |
Current Liabilities: | ' | ' | ' |
Notes payable | 0 | 156 | 10,206 |
Accounts payable | 141,755 | 142,240 | 109,879 |
Accrued liabilities (Note 6) | 119,654 | 105,190 | 122,501 |
Income taxes payable | 9,257 | 4,406 | 13,802 |
Deferred income taxes | 67 | 67 | 954 |
Total current liabilities | 270,733 | 252,059 | 257,342 |
Income taxes payable | 14,355 | 11,638 | 14,841 |
Deferred income taxes | 1,849 | 1,807 | 1,745 |
Other long-term liabilities | 27,643 | 27,171 | 26,215 |
Total liabilities | 314,580 | 292,675 | 300,143 |
Commitments and contingencies (Note 12) | ' | ' | ' |
Equity: | ' | ' | ' |
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 | 0 |
Common stock (no par value); 125,000 shares authorized; 34,478, 34,075 and 33,941 issued and outstanding, respectively (Note 9) | 44,371 | 24,814 | 17,482 |
Retained earnings | 1,129,636 | 1,094,690 | 1,062,674 |
Accumulated other comprehensive income (Note 8) | 37,905 | 46,663 | 47,547 |
Total shareholders' equity | 1,211,912 | 1,166,167 | 1,127,703 |
Non-controlling interest (Note 3) | 7,810 | 0 | 0 |
Total equity | 1,219,722 | 1,166,167 | 1,127,703 |
Total liabilities and equity | $1,534,302 | $1,458,842 | $1,427,846 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $8,731 | $7,377 | $7,543 |
Accumulated depreciation for property, plant and equipment | $322,161 | $303,043 | $297,036 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 | 0 |
Common stock, no par value (in dollars per share) | $0 | $0 | $0 |
Common stock, shares authorized (in shares) | 125,000,000 | 125,000,000 | 125,000,000 |
Common stock, shares issued (in shares) | 34,478,000 | 34,075,000 | 33,941,000 |
Common stock, shares outstanding (in shares) | 34,478,000 | 34,075,000 | 33,941,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales | $523,084 | $545,005 | $1,151,886 | $1,168,503 |
Cost of sales | 290,735 | 301,320 | 645,949 | 659,014 |
Gross profit | 232,349 | 243,685 | 505,937 | 509,489 |
Selling, general and administrative expenses | 162,951 | 160,154 | 437,789 | 437,881 |
Net licensing income | 7,501 | 4,287 | 11,482 | 10,817 |
Income from operations | 76,899 | 87,818 | 79,630 | 82,425 |
Interest income (expense), net | 56 | -17 | 403 | 421 |
Other non-operating income (expense) | 417 | 0 | -686 | 0 |
Income before income tax | 77,372 | 87,801 | 79,347 | 82,846 |
Income tax expense | -22,822 | -23,426 | -22,025 | -22,474 |
Net income | 54,550 | 64,375 | 57,322 | 60,372 |
Net loss attributable to non-controlling interest | -36 | 0 | -289 | 0 |
Net income attributable to Columbia Sportswear Company | $54,586 | $64,375 | $57,611 | $60,372 |
Earnings per share (Note 10): | ' | ' | ' | ' |
Basic (in dollars per share) | $1.58 | $1.90 | $1.68 | $1.79 |
Diluted (in dollars per share) | $1.57 | $1.88 | $1.66 | $1.77 |
Cash dividends per share (in dollars per share) | $0.22 | $0.22 | $0.66 | $0.66 |
Weighted average shares outstanding (Note 10): | ' | ' | ' | ' |
Basic (in shares) | 34,452 | 33,872 | 34,325 | 33,761 |
Diluted (in shares) | 34,753 | 34,155 | 34,640 | 34,035 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $54,550 | $64,375 | $57,322 | $60,372 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities (net of tax expense of $0, $4, $4 and $0, respectively) | -9 | 32 | 7 | 0 |
Unrealized losses on derivative transactions (net of tax benefit of $1,372, $825, $223 and $577, respectively) | -3,204 | -3,369 | -1,606 | -3,952 |
Foreign currency translation adjustments (net of tax (expense) benefit of $(308), ($149), ($210) and $111, respectively) | 11,114 | 8,306 | -7,060 | 4,602 |
Other comprehensive income (loss) | 7,901 | 4,969 | -8,659 | 650 |
Comprehensive income | 62,451 | 69,344 | 48,663 | 61,022 |
Comprehensive loss attributable to non-controlling interest | -15 | 0 | -190 | 0 |
Comprehensive income attributable to Columbia Sportswear Company | $62,466 | $69,344 | $48,853 | $61,022 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities, tax (expense) benefit | $0 | ($4) | ($4) | $0 |
Unrealized gains (losses) on derivative transactions, tax (expense) benefit | 1,372 | 825 | 223 | 577 |
Foreign currency translation adjustment, tax (expense) benefit | ($308) | ($149) | ($210) | $111 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $57,322 | $60,372 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 30,337 | 30,763 |
Loss on disposal or impairment of property, plant, and equipment | 370 | 505 |
Deferred income taxes | 2,173 | 974 |
Stock-based compensation | 6,532 | 5,707 |
Excess tax benefit from employee stock plans | -1,083 | -604 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -43,712 | -68,605 |
Inventories | -46,795 | -108,027 |
Prepaid expenses and other current assets | 114 | -1,784 |
Other assets | 330 | -266 |
Accounts payable | -1,521 | -45,660 |
Accrued liabilities | 11,654 | 12,926 |
Income taxes payable | 7,530 | 825 |
Other liabilities | 472 | 2,298 |
Net cash provided by (used in) operating activities | 23,723 | -110,576 |
Cash flows from investing activities: | ' | ' |
Purchases of short-term investments | -61,286 | -39,274 |
Sales of short-term investments | 77,166 | 40,153 |
Capital expenditures | -49,157 | -32,431 |
Proceeds from sale of property, plant, and equipment | 49 | 6 |
Net cash used in investing activities | -33,228 | -31,546 |
Cash flows from financing activities: | ' | ' |
Proceeds from credit facilities | 36,896 | 74,846 |
Repayments on credit facilities | -37,052 | -64,640 |
Proceeds from issuance of common stock under employee stock plans | 14,199 | 9,607 |
Tax payments related to restricted stock unit issuances | -2,144 | -1,261 |
Excess tax benefit from employee stock plans | 1,083 | 604 |
Payments for Repurchase of Common Stock | 0 | -206 |
Capital contribution from non-controlling interest | 8,000 | 0 |
Cash dividends paid | -22,665 | -22,309 |
Net cash used in financing activities | -1,683 | -3,359 |
Net effect of exchange rate changes on cash | -5,433 | -1,389 |
Net decrease in cash and cash equivalents | -16,621 | -146,870 |
Cash and cash equivalents, beginning of period | 290,781 | 241,034 |
Cash and cash equivalents, end of period | 274,160 | 94,164 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during the period for income taxes | 7,867 | 15,891 |
Supplemental disclosures of non-cash investing activities: | ' | ' |
Capital expenditures incurred but not yet paid | $1,259 | $5,967 |
Basis_Of_Presentation_And_Orga
Basis Of Presentation And Organization | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis Of Presentation And Organization | ' |
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 and entities in which it maintains a controlling financial interest, 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, 2013 and 2012, the results of operations for the three and nine months ended September 30, 2013 and 2012 and cash flows for the nine months ended September 30, 2013 and 2012. The December 31, 2012 financial information was derived from the Company’s audited financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. A significant part of the Company’s business is of a seasonal nature; therefore, results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of results to be expected for the full year. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The Company, however, believes that the disclosures contained in this report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934 for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Certain amounts relating to foreign currency gains and losses previously included in "Selling, general and administrative expenses" are now reported as "Other non-operating expense" on the Condensed Consolidated Statements of Operations. Prior year amounts are immaterial and have not been reclassified. | |
Principles of Consolidation: | |
The consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Estimates and assumptions: | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, excess, slow-moving and close-out inventories, product warranty, long-lived and intangible assets, income taxes and stock-based compensation. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
There have been no significant changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Recent Accounting Pronouncements: | |
In July 2012, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2012-02, Intangibles—Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. This ASU permits an entity to make a qualitative assessment of whether it is more likely than not that indefinite-lived intangible assets are impaired before calculating the fair value of the assets. This ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company performs its annual impairment evaluation in the fourth quarter, or more frequently if events or circumstances indicate that the Company's intangible assets might be impaired. The Company does not expect the adoption of this standard to have a material effect on the Company's financial position, results of operations or cash flows. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This ASU requires an entity to disclose additional information with respect to changes in accumulated other comprehensive income (AOCI) balances by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The Company adopted the new guidance as of January 1, 2013. The adoption of this standard did not have a material effect on the Company's consolidated financial position, results of operations or cash flows. | |
In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This ASU provides clarification regarding the release of any cumulative translation adjustment when the parent ceases to have controlling financial interest in a business or group of assets held within a foreign entity. The amendment is effective on a prospective basis for interim and annual periods beginning after December 15, 2013. The Company does not expect the adoption of this standard to have a material effect on the Company’s financial position, results of operations or cash flows. |
NonControlling_Interest_NonCon
Non-Controlling Interest Non-Controlling Interest | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Non-controlling Interest | ' | ||||||||||||
NON-CONTROLLING INTEREST | |||||||||||||
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Ltd. ("Swire") to support the development of the Company's business in China. The joint venture is expected to begin operations on January 1, 2014. During the three months ended June 30, 2013, Swire made an initial capital contribution of $8,000,000 in cash and the Company made an initial capital contribution of $12,000,000 in cash. The accounts of the joint venture are included in the Condensed Consolidated Balance Sheets as of September 30, 2013. Swire's share of net income (loss) of the joint venture is included in net loss attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2013. The non-controlling equity interest in this entity is included in total equity as non-controlling interest on the Condensed Consolidated Balance Sheets as of September 30, 2013. | |||||||||||||
The following table presents the changes in equity for the nine months ended September 30, 2013 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
BALANCE, DECEMBER 31, 2012 | $ | 1,166,167 | $ | — | $ | 1,166,167 | |||||||
Net income (loss) | 57,611 | (289 | ) | 57,322 | |||||||||
Other comprehensive income (loss): | |||||||||||||
Unrealized holding gains on available for sale securities | 7 | — | 7 | ||||||||||
Derivative holding losses | (1,606 | ) | — | (1,606 | ) | ||||||||
Foreign currency translation adjustments | (7,159 | ) | 99 | (7,060 | ) | ||||||||
Cash dividends ($0.66 per share) | (22,665 | ) | — | (22,665 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 12,055 | — | 12,055 | ||||||||||
Capital contribution from non-controlling interest | — | 8,000 | 8,000 | ||||||||||
Tax adjustment from stock plans | 970 | — | 970 | ||||||||||
Stock-based compensation expense | 6,532 | — | 6,532 | ||||||||||
BALANCE, SEPTEMBER 30, 2013 | $ | 1,211,912 | $ | 7,810 | $ | 1,219,722 | |||||||
Inventories_Net
Inventories, Net | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Inventories, Net | ' | |||||||||||
INVENTORIES, NET | ||||||||||||
Inventories are carried at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company periodically reviews its inventory for excess, close-out and slow moving items and makes provisions as necessary to properly reflect inventory value. | ||||||||||||
Inventories, net, consisted of the following (in thousands): | ||||||||||||
September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | ||||||||||
Raw materials | $ | 941 | $ | 1,633 | $ | 726 | ||||||
Work in process | 1,271 | 1,969 | 2,055 | |||||||||
Finished goods | 407,899 | 359,723 | 472,952 | |||||||||
$ | 410,111 | $ | 363,325 | $ | 475,733 | |||||||
Intangible_Assets_Net
Intangible Assets, Net | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Intangible Assets, Net | ' | |||||||||||
INTANGIBLE ASSETS, NET | ||||||||||||
Intangible assets that are determined to have finite lives include patents and purchased technology and are amortized over their estimated useful lives, which are approximately 10 years. Intangible assets with indefinite useful lives include trademarks and tradenames and are not amortized but are periodically evaluated for impairment. | ||||||||||||
The following table summarizes the Company’s identifiable intangible assets balance (in thousands): | ||||||||||||
September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | ||||||||||
Intangible assets subject to amortization | ||||||||||||
Gross carrying amount | $ | 14,198 | $ | 14,198 | $ | 14,198 | ||||||
Accumulated amortization | (4,999 | ) | (4,001 | ) | (3,651 | ) | ||||||
Net carrying amount | 9,199 | 10,197 | 10,547 | |||||||||
Intangible assets not subject to amortization | 27,421 | 27,421 | 27,421 | |||||||||
Intangible assets, net | $ | 36,620 | $ | 37,618 | $ | 37,968 | ||||||
Annual amortization expense for intangible assets subject to amortization is estimated to be $1,330,000 in 2013 through 2017. |
Product_Warranty
Product Warranty | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||||||||||
Product Warranty | ' | |||||||||||||||
PRODUCT WARRANTY | ||||||||||||||||
Some of the Company’s products carry limited warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company’s history of warranty repairs and replacements and is recorded in cost of sales. The warranty reserve is included in accrued liabilities in the Condensed Consolidated Balance Sheets. | ||||||||||||||||
A reconciliation of product warranties is as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 9,665 | $ | 9,453 | $ | 10,209 | $ | 10,452 | ||||||||
Charged to costs and expenses | 1,154 | 1,218 | 3,938 | 3,183 | ||||||||||||
Claims settled | (806 | ) | (960 | ) | (3,976 | ) | (3,917 | ) | ||||||||
Other | 126 | 83 | (32 | ) | 76 | |||||||||||
Balance at end of period | $ | 10,139 | $ | 9,794 | $ | 10,139 | $ | 9,794 | ||||||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||||||
The Company’s Stock Incentive Plan (the “Plan”) allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units and other stock-based awards. The majority of all stock option and restricted stock unit grants outstanding under the Plan were granted in the first quarter of each fiscal year. | |||||||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock options | $ | 873 | $ | 607 | $ | 2,583 | $ | 2,384 | |||||||||
Restricted stock units | 1,377 | 797 | 3,949 | 3,323 | |||||||||||||
Total | $ | 2,250 | $ | 1,404 | $ | 6,532 | $ | 5,707 | |||||||||
Stock Options | |||||||||||||||||
The Company estimates the fair value of stock options using the Black-Scholes model. Key inputs and assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, the expected volatility of the Company’s stock over the option’s expected term, the risk-free interest rate applicable to the option’s expected term, and the Company’s estimated annual dividend yield. | |||||||||||||||||
The following table presents the weighted average assumptions for stock options granted in the period: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Expected term | 4.49 years | 4.51 years | 4.71 years | 4.78 years | |||||||||||||
Expected stock price volatility | 26.87% | 31.95% | 30.63% | 32.20% | |||||||||||||
Risk-free interest rate | 1.01% | 0.47% | 0.70% | 0.88% | |||||||||||||
Expected dividend yield | 1.38% | 1.63% | 1.62% | 1.80% | |||||||||||||
Weighted average grant date fair value | $13.04 | $12.37 | $12.34 | $11.57 | |||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company granted a total of 342,358 and 358,169 stock options, respectively. At September 30, 2013, unrecognized costs related to outstanding stock options totaled approximately $6,414,000, before any related tax benefit. The unrecognized costs related to stock options are amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at September 30, 2013 are expected to be recognized over a weighted average period of 2.45 years. | |||||||||||||||||
Restricted Stock Units | |||||||||||||||||
The Company estimates the fair value of service-based and performance-based restricted stock units using the Black-Scholes model. Key inputs and assumptions used to estimate the fair value of restricted stock units include the vesting period, dividend yield and closing price of the Company’s common stock on the date of grant. | |||||||||||||||||
The following table presents the weighted average assumptions for restricted stock units granted in the period: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Vesting period | 4.01 years | 4.00 years | 3.93 years | 3.86 years | |||||||||||||
Expected dividend yield | 1.38% | 1.63% | 1.59% | 1.77% | |||||||||||||
Estimated average grant date fair value per restricted stock unit | $60.27 | $50.46 | $51.97 | $46.57 | |||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company granted 147,590 and 183,816 restricted stock units, respectively. At September 30, 2013, unrecognized costs related to outstanding restricted stock units totaled approximately $11,331,000, before any related tax benefit. The unrecognized costs related to restricted stock units are being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at September 30, 2013 are expected to be recognized over a weighted average period of 2.50 years. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | |||||||||||||||||
Accumulated other comprehensive income, net of applicable taxes, reported on the Company’s Condensed Consolidated Balance Sheets consists of unrealized holding gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments. The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
Other comprehensive income (loss) before reclassifications | (9 | ) | (951 | ) | 11,093 | 10,133 | |||||||||||
Amounts reclassified from other comprehensive income | — | (2,253 | ) | — | (2,253 | ) | |||||||||||
Net other comprehensive income (loss) during the period | (9 | ) | (3,204 | ) | 11,093 | 7,880 | |||||||||||
Balance at September 30, 2013 | $ | (2 | ) | $ | 899 | $ | 37,008 | $ | 37,905 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2012 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at June 30, 2012 | $ | (34 | ) | $ | 6,667 | $ | 35,945 | $ | 42,578 | ||||||||
Other comprehensive income (loss) before reclassifications | 32 | (736 | ) | 8,306 | 7,602 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (2,633 | ) | — | (2,633 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 32 | (3,369 | ) | 8,306 | 4,969 | ||||||||||||
Balance at September 30, 2012 | $ | (2 | ) | $ | 3,298 | $ | 44,251 | $ | 47,547 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2013 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2012 | $ | (9 | ) | $ | 2,505 | $ | 44,167 | $ | 46,663 | ||||||||
Other comprehensive income (loss) before reclassifications | 7 | 1,929 | (7,159 | ) | (5,223 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (3,535 | ) | — | (3,535 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 7 | (1,606 | ) | (7,159 | ) | (8,758 | ) | ||||||||||
Balance at September 30, 2013 | $ | (2 | ) | $ | 899 | $ | 37,008 | $ | 37,905 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2012 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2011 | $ | (2 | ) | $ | 7,250 | $ | 39,649 | $ | 46,897 | ||||||||
Other comprehensive income (loss) before reclassifications | — | (143 | ) | 4,602 | 4,459 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (3,809 | ) | — | (3,809 | ) | |||||||||||
Net other comprehensive income (loss) during the period | — | (3,952 | ) | 4,602 | 650 | ||||||||||||
Balance at September 30, 2012 | $ | (2 | ) | $ | 3,298 | $ | 44,251 | $ | 47,547 | ||||||||
All reclassification adjustments related to derivative transactions are recorded in cost of sales on the Condensed Consolidated Statements of Operations. See Note 11 for further information regarding derivative instrument reclassification adjustments. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
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. 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. For the calculation of diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted stock units determined using the treasury stock method. | ||||||||||||||||
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Weighted average shares of common stock outstanding, used in computing basic earnings per share | 34,452 | 33,872 | 34,325 | 33,761 | ||||||||||||
Effect of dilutive stock options and restricted stock units | 301 | 283 | 315 | 274 | ||||||||||||
Weighted average shares of common stock outstanding, used in computing diluted earnings per share | 34,753 | 34,155 | 34,640 | 34,035 | ||||||||||||
Earnings per share of common stock attributable to Columbia Sportswear Company: | ||||||||||||||||
Basic | $ | 1.58 | $ | 1.9 | $ | 1.68 | $ | 1.79 | ||||||||
Diluted | 1.57 | 1.88 | 1.66 | 1.77 | ||||||||||||
Stock options and service-based restricted stock units representing 393,993 and 923,275 shares of common stock for the three months ended September 30, 2013 and 2012, respectively, and 586,220 and 932,362 shares of common stock for the nine months ended September 30, 2013 and 2012, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 10,560 and 40,304 shares of common stock for the three months ended September 30, 2013 and 2012, respectively, and 10,560 and 38,259 shares of common stock for the nine months ended September 30, 2013 and 2012, respectively, were outstanding but were excluded from the computation of diluted EPS because these shares were subject to performance conditions that had not been met. | ||||||||||||||||
Since the inception of the Company’s stock repurchase plan in 2004 through September 30, 2013, the Company’s Board of Directors has authorized the repurchase of $500,000,000 of the Company’s common stock. As of September 30, 2013, the Company had repurchased 9,593,278 shares under this program at an aggregate purchase price of approximately $441,443,000. During the nine months ended September 30, 2013, the Company did not repurchase any shares of the Company's common stock. During the nine months ended September 30, 2012, the Company repurchased an aggregate of $206,000 of the Company's common stock. Shares of the Company’s common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions. 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. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
The Company operates in four geographic segments: (1) United States, (2) Latin America and Asia Pacific ("LAAP"), (3) Europe, Middle East and Africa (“EMEA”) and (4) Canada, which are reflective of the Company’s internal organization, management, and oversight structure. Each geographic segment operates predominantly in one industry: the design, development, marketing and distribution of active outdoor apparel, footwear, accessories and equipment. | ||||||||||||||||
The geographic distribution of the Company’s net sales and income from operations are summarized in the following tables (in thousands). Inter-segment net sales, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net sales to unrelated entities: | ||||||||||||||||
United States | $ | 323,120 | $ | 347,757 | $ | 663,407 | $ | 672,879 | ||||||||
LAAP | 71,968 | 84,614 | 236,297 | 245,560 | ||||||||||||
EMEA | 78,102 | 60,583 | 172,056 | 168,655 | ||||||||||||
Canada | 49,894 | 52,051 | 80,126 | 81,409 | ||||||||||||
$ | 523,084 | $ | 545,005 | $ | 1,151,886 | $ | 1,168,503 | |||||||||
Segment income from operations: | ||||||||||||||||
United States | $ | 50,260 | $ | 62,475 | $ | 47,113 | $ | 50,039 | ||||||||
LAAP | 9,199 | 7,128 | 23,964 | 24,797 | ||||||||||||
EMEA | 11,188 | 7,862 | 4,913 | 2,295 | ||||||||||||
Canada | 6,252 | 10,353 | 3,640 | 5,294 | ||||||||||||
Total income from operations | 76,899 | 87,818 | 79,630 | 82,425 | ||||||||||||
Interest | 56 | (17 | ) | 403 | 421 | |||||||||||
Other non-operating income (expense) | 417 | — | (686 | ) | — | |||||||||||
Income before income taxes | $ | 77,372 | $ | 87,801 | $ | 79,347 | $ | 82,846 | ||||||||
Financial_Instruments_And_Risk
Financial Instruments And Risk Management | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ' | ||||||||||||||||||
Financial Instruments And Risk Management | ' | ||||||||||||||||||
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT | |||||||||||||||||||
In the normal course of business, the Company’s financial position and results of operations are routinely subject to a variety of risks. These risks include risks associated with financial markets, primarily currency exchange rate risk and, to a lesser extent, interest rate risk and equity market risk. The Company regularly assesses these risks and has established policies and business practices designed to mitigate them. The Company does not engage in speculative trading in any financial market. | |||||||||||||||||||
The Company actively manages the risk of changes in functional currency equivalent cash flows resulting from anticipated U.S. dollar denominated inventory purchases by subsidiaries that use European euros, Canadian dollars or Japanese yen as their functional currency. The Company manages this risk by using currency forward contracts formally designated and effective as cash flow hedges. Hedge effectiveness is determined by evaluating the ability of a hedging instrument’s cumulative change in fair value to offset the cumulative change in the present value of expected cash flows on the underlying exposures. For forward contracts, the change in fair value attributable to changes in forward points are excluded from the determination of hedge effectiveness and included in current cost of sales. Hedge ineffectiveness was not material during the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||
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 European euros, Canadian dollars, Japanese yen, Korean won or Chinese renminbi as their functional currency. Non-functional currency denominated monetary assets and liabilities consist primarily of cash and cash equivalents, short-term investments, payables and intercompany loans. 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): | |||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | $ | 84,500 | $ | 70,000 | $ | 97,925 | |||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | 65,900 | 121,934 | 89,462 | ||||||||||||||||
At September 30, 2013, approximately $1,903,000 of deferred net gains on both outstanding and matured derivatives accumulated in other comprehensive income 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 income. Actual amounts ultimately reclassified to net income are dependent on U.S. dollar exchange rates in effect against the European euro, Canadian dollar and Japanese yen when outstanding derivative contracts mature. | |||||||||||||||||||
At September 30, 2013, the Company’s derivative contracts had a remaining maturity of approximately two years or less. All the counterparties to these transactions had both long-term and short-term investment grade credit ratings and as a result, the Company does not require collateral to facilitate transactions. The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was approximately $1,000,000 at September 30, 2013. The Company does not hold derivatives featuring credit-related contingent terms. In addition, the Company is not a party to any derivative master agreement featuring credit-related contingent terms. Finally, the Company has not pledged assets or posted collateral as a requirement for entering into or maintaining derivative positions. | |||||||||||||||||||
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): | |||||||||||||||||||
Balance Sheet Classification | September 30, | December 31, | September 30, | ||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 1,526 | $ | 2,147 | $ | 2,170 | ||||||||||||
Currency forward contracts | Other non-current assets | — | 489 | — | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 573 | 579 | 580 | |||||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 403 | 4,072 | 582 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 26 | 743 | 1,640 | |||||||||||||||
The following table presents the statement of operations effect and classification of derivative instruments (in thousands): | |||||||||||||||||||
Statement of | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||
Operations | |||||||||||||||||||
Classification | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Currency Forward Contracts: | |||||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in other comprehensive income or loss | — | $ | (951 | ) | $ | (736 | ) | $ | 1,929 | $ | (143 | ) | |||||||
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion | Cost of sales | 3,217 | 3,219 | 4,843 | 4,011 | ||||||||||||||
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance | Cost of sales | — | — | — | 441 | ||||||||||||||
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | 8 | (12 | ) | (37 | ) | (16 | ) | |||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Gain recognized in income | Other non-operating income (expense) | 137 | — | 6,149 | — | ||||||||||||||
Loss recognized in income | Selling, general and administrative expense | — | (881 | ) | — | (7,134 | ) | ||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Inventory Purchase Obligations | |
Inventory purchase obligations consist of open production purchase orders and other commitments for raw materials and sourced apparel, footwear, accessories and equipment. At September 30, 2013, inventory purchase obligations were $240,165,000. | |
Litigation | |
The Company is a party to various legal claims, actions and complaints from time to time. Although the ultimate resolution of legal proceedings cannot be predicted with certainty, management believes that disposition of these matters will not have a material adverse effect on the Company’s consolidated financial statements. |
Fair_Value_Measures
Fair Value Measures | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measures | ' | |||||||||||||||
FAIR VALUE MEASURES | ||||||||||||||||
Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid 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: | ||||||||||||||||
Level 1 – | observable inputs such as quoted prices for identical assets or liabilities in active liquid markets; | |||||||||||||||
Level 2 – | inputs, other than the quoted market prices in active markets, that are observable, either directly or indirectly; or observable market prices in markets with insufficient volume and/or infrequent transactions; and | |||||||||||||||
Level 3 – | unobservable inputs for which there is little or no market data available, that require the reporting entity to | |||||||||||||||
develop its own assumptions. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2013 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 153,382 | $ | — | $ | — | $ | 153,382 | ||||||||
Time deposits | 25,092 | — | — | 25,092 | ||||||||||||
Reverse repurchase agreements | — | 25,000 | — | 25,000 | ||||||||||||
U.S. Government-backed municipal bonds | — | 3,218 | — | 3,218 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 1,470 | — | 1,470 | ||||||||||||
Variable-rate demand notes | — | 27,320 | — | 27,320 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual fund shares | 259 | — | — | 259 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 1,929 | — | 1,929 | ||||||||||||
Other non-current assets | ||||||||||||||||
Mutual fund shares | 4,560 | — | — | 4,560 | ||||||||||||
Total assets measured at fair value | $ | 183,293 | $ | 58,937 | $ | — | $ | 242,230 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 599 | $ | — | $ | 599 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 599 | $ | — | $ | 599 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2012 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 70,857 | $ | — | $ | — | $ | 70,857 | ||||||||
Time deposits | 25,035 | — | — | 25,035 | ||||||||||||
Certificates of deposit | — | 2,450 | — | 2,450 | ||||||||||||
U.S. Government-backed repurchase agreements | — | 25,000 | — | 25,000 | ||||||||||||
U.S. Government-backed municipal bonds | — | 5,348 | — | 5,348 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 7,596 | — | 7,596 | ||||||||||||
Variable-rate demand notes | — | 22,640 | — | 22,640 | ||||||||||||
U.S. Government-backed municipal bonds | — | 14,425 | — | 14,425 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 6,219 | — | 6,219 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 489 | — | 489 | ||||||||||||
Mutual fund shares | 4,080 | — | — | 4,080 | ||||||||||||
Total assets measured at fair value | $ | 99,972 | $ | 84,167 | $ | — | $ | 184,139 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2012 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 13,700 | $ | — | $ | — | $ | 13,700 | ||||||||
Time deposits | 10,016 | — | — | 10,016 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Time deposits | — | 2,128 | — | 2,128 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 2,752 | — | 2,752 | ||||||||||||
Other non-current assets | ||||||||||||||||
Mutual fund shares | 3,879 | — | — | 3,879 | ||||||||||||
Total assets measured at fair value | $ | 27,595 | $ | 4,880 | $ | — | $ | 32,475 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 2,220 | $ | — | $ | 2,220 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 2,220 | $ | — | $ | 2,220 | ||||||||
(1) | Investments have remaining maturities greater than three months but less than two years and are available for use in current operations. | |||||||||||||||
Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. 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. | ||||||||||||||||
There were no material assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2013, December 31, 2012, or September 30, 2012. |
NonControlling_Interest_NonCon1
Non-Controlling Interest Non-Controlling Interest (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Schedule of Equity | ' | ||||||||||||
The following table presents the changes in equity for the nine months ended September 30, 2013 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
BALANCE, DECEMBER 31, 2012 | $ | 1,166,167 | $ | — | $ | 1,166,167 | |||||||
Net income (loss) | 57,611 | (289 | ) | 57,322 | |||||||||
Other comprehensive income (loss): | |||||||||||||
Unrealized holding gains on available for sale securities | 7 | — | 7 | ||||||||||
Derivative holding losses | (1,606 | ) | — | (1,606 | ) | ||||||||
Foreign currency translation adjustments | (7,159 | ) | 99 | (7,060 | ) | ||||||||
Cash dividends ($0.66 per share) | (22,665 | ) | — | (22,665 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 12,055 | — | 12,055 | ||||||||||
Capital contribution from non-controlling interest | — | 8,000 | 8,000 | ||||||||||
Tax adjustment from stock plans | 970 | — | 970 | ||||||||||
Stock-based compensation expense | 6,532 | — | 6,532 | ||||||||||
BALANCE, SEPTEMBER 30, 2013 | $ | 1,211,912 | $ | 7,810 | $ | 1,219,722 | |||||||
Inventories_Net_Tables
Inventories, Net (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Schedule Of Inventories, Net | ' | |||||||||||
Inventories, net, consisted of the following (in thousands): | ||||||||||||
September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | ||||||||||
Raw materials | $ | 941 | $ | 1,633 | $ | 726 | ||||||
Work in process | 1,271 | 1,969 | 2,055 | |||||||||
Finished goods | 407,899 | 359,723 | 472,952 | |||||||||
$ | 410,111 | $ | 363,325 | $ | 475,733 | |||||||
Intangible_Assets_Net_Tables
Intangible Assets, Net (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Summary Of Identifiable Intangible Assets | ' | |||||||||||
The following table summarizes the Company’s identifiable intangible assets balance (in thousands): | ||||||||||||
September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | ||||||||||
Intangible assets subject to amortization | ||||||||||||
Gross carrying amount | $ | 14,198 | $ | 14,198 | $ | 14,198 | ||||||
Accumulated amortization | (4,999 | ) | (4,001 | ) | (3,651 | ) | ||||||
Net carrying amount | 9,199 | 10,197 | 10,547 | |||||||||
Intangible assets not subject to amortization | 27,421 | 27,421 | 27,421 | |||||||||
Intangible assets, net | $ | 36,620 | $ | 37,618 | $ | 37,968 | ||||||
Product_Warranty_Tables
Product Warranty (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||||||||||
Reconciliation Of Product Warranties | ' | |||||||||||||||
A reconciliation of product warranties is as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 9,665 | $ | 9,453 | $ | 10,209 | $ | 10,452 | ||||||||
Charged to costs and expenses | 1,154 | 1,218 | 3,938 | 3,183 | ||||||||||||
Claims settled | (806 | ) | (960 | ) | (3,976 | ) | (3,917 | ) | ||||||||
Other | 126 | 83 | (32 | ) | 76 | |||||||||||
Balance at end of period | $ | 10,139 | $ | 9,794 | $ | 10,139 | $ | 9,794 | ||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||
Summary Of Stock-Based Compensation Expense | ' | ||||||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock options | $ | 873 | $ | 607 | $ | 2,583 | $ | 2,384 | |||||||||
Restricted stock units | 1,377 | 797 | 3,949 | 3,323 | |||||||||||||
Total | $ | 2,250 | $ | 1,404 | $ | 6,532 | $ | 5,707 | |||||||||
Schedule Of Weighted Average Assumptions | ' | ||||||||||||||||
The following table presents the weighted average assumptions for stock options granted in the period: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Expected term | 4.49 years | 4.51 years | 4.71 years | 4.78 years | |||||||||||||
Expected stock price volatility | 26.87% | 31.95% | 30.63% | 32.20% | |||||||||||||
Risk-free interest rate | 1.01% | 0.47% | 0.70% | 0.88% | |||||||||||||
Expected dividend yield | 1.38% | 1.63% | 1.62% | 1.80% | |||||||||||||
Weighted average grant date fair value | $13.04 | $12.37 | $12.34 | $11.57 | |||||||||||||
Schedule Of Weighted Average Assumptions For Restricted Stock Units | ' | ||||||||||||||||
The following table presents the weighted average assumptions for restricted stock units granted in the period: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Vesting period | 4.01 years | 4.00 years | 3.93 years | 3.86 years | |||||||||||||
Expected dividend yield | 1.38% | 1.63% | 1.59% | 1.77% | |||||||||||||
Estimated average grant date fair value per restricted stock unit | $60.27 | $50.46 | $51.97 | $46.57 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income, Net Of Related Tax Effects | ' | ||||||||||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
Other comprehensive income (loss) before reclassifications | (9 | ) | (951 | ) | 11,093 | 10,133 | |||||||||||
Amounts reclassified from other comprehensive income | — | (2,253 | ) | — | (2,253 | ) | |||||||||||
Net other comprehensive income (loss) during the period | (9 | ) | (3,204 | ) | 11,093 | 7,880 | |||||||||||
Balance at September 30, 2013 | $ | (2 | ) | $ | 899 | $ | 37,008 | $ | 37,905 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2012 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at June 30, 2012 | $ | (34 | ) | $ | 6,667 | $ | 35,945 | $ | 42,578 | ||||||||
Other comprehensive income (loss) before reclassifications | 32 | (736 | ) | 8,306 | 7,602 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (2,633 | ) | — | (2,633 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 32 | (3,369 | ) | 8,306 | 4,969 | ||||||||||||
Balance at September 30, 2012 | $ | (2 | ) | $ | 3,298 | $ | 44,251 | $ | 47,547 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2013 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2012 | $ | (9 | ) | $ | 2,505 | $ | 44,167 | $ | 46,663 | ||||||||
Other comprehensive income (loss) before reclassifications | 7 | 1,929 | (7,159 | ) | (5,223 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (3,535 | ) | — | (3,535 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 7 | (1,606 | ) | (7,159 | ) | (8,758 | ) | ||||||||||
Balance at September 30, 2013 | $ | (2 | ) | $ | 899 | $ | 37,008 | $ | 37,905 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2012 (in thousands): | |||||||||||||||||
Unrealized losses on available for sale securities | Unrealized holding gains on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2011 | $ | (2 | ) | $ | 7,250 | $ | 39,649 | $ | 46,897 | ||||||||
Other comprehensive income (loss) before reclassifications | — | (143 | ) | 4,602 | 4,459 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (3,809 | ) | — | (3,809 | ) | |||||||||||
Net other comprehensive income (loss) during the period | — | (3,952 | ) | 4,602 | 650 | ||||||||||||
Balance at September 30, 2012 | $ | (2 | ) | $ | 3,298 | $ | 44,251 | $ | 47,547 | ||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS | ' | |||||||||||||||
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Weighted average shares of common stock outstanding, used in computing basic earnings per share | 34,452 | 33,872 | 34,325 | 33,761 | ||||||||||||
Effect of dilutive stock options and restricted stock units | 301 | 283 | 315 | 274 | ||||||||||||
Weighted average shares of common stock outstanding, used in computing diluted earnings per share | 34,753 | 34,155 | 34,640 | 34,035 | ||||||||||||
Earnings per share of common stock attributable to Columbia Sportswear Company: | ||||||||||||||||
Basic | $ | 1.58 | $ | 1.9 | $ | 1.68 | $ | 1.79 | ||||||||
Diluted | 1.57 | 1.88 | 1.66 | 1.77 | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Schedule Of Segment Information | ' | |||||||||||||||
The geographic distribution of the Company’s net sales and income from operations are summarized in the following tables (in thousands). Inter-segment net sales, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net sales to unrelated entities: | ||||||||||||||||
United States | $ | 323,120 | $ | 347,757 | $ | 663,407 | $ | 672,879 | ||||||||
LAAP | 71,968 | 84,614 | 236,297 | 245,560 | ||||||||||||
EMEA | 78,102 | 60,583 | 172,056 | 168,655 | ||||||||||||
Canada | 49,894 | 52,051 | 80,126 | 81,409 | ||||||||||||
$ | 523,084 | $ | 545,005 | $ | 1,151,886 | $ | 1,168,503 | |||||||||
Segment income from operations: | ||||||||||||||||
United States | $ | 50,260 | $ | 62,475 | $ | 47,113 | $ | 50,039 | ||||||||
LAAP | 9,199 | 7,128 | 23,964 | 24,797 | ||||||||||||
EMEA | 11,188 | 7,862 | 4,913 | 2,295 | ||||||||||||
Canada | 6,252 | 10,353 | 3,640 | 5,294 | ||||||||||||
Total income from operations | 76,899 | 87,818 | 79,630 | 82,425 | ||||||||||||
Interest | 56 | (17 | ) | 403 | 421 | |||||||||||
Other non-operating income (expense) | 417 | — | (686 | ) | — | |||||||||||
Income before income taxes | $ | 77,372 | $ | 87,801 | $ | 79,347 | $ | 82,846 | ||||||||
Financial_Instruments_And_Risk1
Financial Instruments And Risk Management (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ' | ||||||||||||||||||
Gross Notional Amount Of Outstanding Derivative Instruments | ' | ||||||||||||||||||
The following table presents the gross notional amount of outstanding derivative instruments (in thousands): | |||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | $ | 84,500 | $ | 70,000 | $ | 97,925 | |||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | 65,900 | 121,934 | 89,462 | ||||||||||||||||
Balance Sheet Classification And Fair Value Of Derivative Instruments | ' | ||||||||||||||||||
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): | |||||||||||||||||||
Balance Sheet Classification | September 30, | December 31, | September 30, | ||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 1,526 | $ | 2,147 | $ | 2,170 | ||||||||||||
Currency forward contracts | Other non-current assets | — | 489 | — | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 573 | 579 | 580 | |||||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 403 | 4,072 | 582 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 26 | 743 | 1,640 | |||||||||||||||
Effect And Classification Of Derivative Instruments | ' | ||||||||||||||||||
The following table presents the statement of operations effect and classification of derivative instruments (in thousands): | |||||||||||||||||||
Statement of | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||
Operations | |||||||||||||||||||
Classification | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Currency Forward Contracts: | |||||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in other comprehensive income or loss | — | $ | (951 | ) | $ | (736 | ) | $ | 1,929 | $ | (143 | ) | |||||||
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion | Cost of sales | 3,217 | 3,219 | 4,843 | 4,011 | ||||||||||||||
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance | Cost of sales | — | — | — | 441 | ||||||||||||||
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | 8 | (12 | ) | (37 | ) | (16 | ) | |||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Gain recognized in income | Other non-operating income (expense) | 137 | — | 6,149 | — | ||||||||||||||
Loss recognized in income | Selling, general and administrative expense | — | (881 | ) | — | (7,134 | ) | ||||||||||||
Fair_Value_Measures_Tables
Fair Value Measures (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2013 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 153,382 | $ | — | $ | — | $ | 153,382 | ||||||||
Time deposits | 25,092 | — | — | 25,092 | ||||||||||||
Reverse repurchase agreements | — | 25,000 | — | 25,000 | ||||||||||||
U.S. Government-backed municipal bonds | — | 3,218 | — | 3,218 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 1,470 | — | 1,470 | ||||||||||||
Variable-rate demand notes | — | 27,320 | — | 27,320 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual fund shares | 259 | — | — | 259 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 1,929 | — | 1,929 | ||||||||||||
Other non-current assets | ||||||||||||||||
Mutual fund shares | 4,560 | — | — | 4,560 | ||||||||||||
Total assets measured at fair value | $ | 183,293 | $ | 58,937 | $ | — | $ | 242,230 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 599 | $ | — | $ | 599 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 599 | $ | — | $ | 599 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2012 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 70,857 | $ | — | $ | — | $ | 70,857 | ||||||||
Time deposits | 25,035 | — | — | 25,035 | ||||||||||||
Certificates of deposit | — | 2,450 | — | 2,450 | ||||||||||||
U.S. Government-backed repurchase agreements | — | 25,000 | — | 25,000 | ||||||||||||
U.S. Government-backed municipal bonds | — | 5,348 | — | 5,348 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 7,596 | — | 7,596 | ||||||||||||
Variable-rate demand notes | — | 22,640 | — | 22,640 | ||||||||||||
U.S. Government-backed municipal bonds | — | 14,425 | — | 14,425 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 6,219 | — | 6,219 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 489 | — | 489 | ||||||||||||
Mutual fund shares | 4,080 | — | — | 4,080 | ||||||||||||
Total assets measured at fair value | $ | 99,972 | $ | 84,167 | $ | — | $ | 184,139 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2012 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 13,700 | $ | — | $ | — | $ | 13,700 | ||||||||
Time deposits | 10,016 | — | — | 10,016 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Time deposits | — | 2,128 | — | 2,128 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 11) | — | 2,752 | — | 2,752 | ||||||||||||
Other non-current assets | ||||||||||||||||
Mutual fund shares | 3,879 | — | — | 3,879 | ||||||||||||
Total assets measured at fair value | $ | 27,595 | $ | 4,880 | $ | — | $ | 32,475 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 11) | $ | — | $ | 2,220 | $ | — | $ | 2,220 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 2,220 | $ | — | $ | 2,220 | ||||||||
(1) | Investments have remaining maturities greater than three months but less than two years and are available for use in current operations. |
NonControlling_Interest_NonCon2
Non-Controlling Interest Non-Controlling Interest (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Cash dividends per share | $0.22 | $0.22 | $0.66 | $0.66 |
Non-controlling Interest, Ownership Percentage by Parent | 60.00% | ' | 60.00% | ' |
Non-controlling Interest [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Payments to Acquire Interest in Joint Venture | ' | ' | $8,000 | ' |
Parent [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Cash dividends per share | ' | ' | $0.66 | ' |
Payments to Acquire Interest in Joint Venture | ' | ' | $12,000 | ' |
NonControlling_Interest_NonCon3
Non-Controlling Interest Non-Controlling Interest (Schedule of Equity) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | $1,166,167 | ' |
Net income (loss) | 54,550 | 64,375 | 57,322 | 60,372 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available for sale securities | -9 | 32 | 7 | 0 |
Derivative holding losses | -3,204 | -3,369 | -1,606 | -3,952 |
Foreign currency translation adjustments | 11,114 | 8,306 | -7,060 | 4,602 |
Cash dividends | ' | ' | -22,665 | ' |
Issuance of common stock under employee stock plans, net | ' | ' | 12,055 | ' |
Capital contribution from non-controlling interest | ' | ' | 8,000 | ' |
Tax adjustment from stock plans | ' | ' | 970 | ' |
Stock-based compensation expense | ' | ' | 6,532 | ' |
Balance, end of period | 1,219,722 | 1,127,703 | 1,219,722 | 1,127,703 |
Parent [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | 1,166,167 | ' |
Net income (loss) | ' | ' | 57,611 | ' |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available for sale securities | ' | ' | 7 | ' |
Derivative holding losses | ' | ' | -1,606 | ' |
Foreign currency translation adjustments | ' | ' | -7,159 | ' |
Cash dividends | ' | ' | -22,665 | ' |
Issuance of common stock under employee stock plans, net | ' | ' | 12,055 | ' |
Capital contribution from non-controlling interest | ' | ' | 0 | ' |
Tax adjustment from stock plans | ' | ' | 970 | ' |
Stock-based compensation expense | ' | ' | 6,532 | ' |
Balance, end of period | 1,211,912 | ' | 1,211,912 | ' |
Non-controlling Interest [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | 0 | ' |
Net income (loss) | ' | ' | -289 | ' |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available for sale securities | ' | ' | 0 | ' |
Derivative holding losses | ' | ' | 0 | ' |
Foreign currency translation adjustments | ' | ' | 99 | ' |
Cash dividends | ' | ' | 0 | ' |
Issuance of common stock under employee stock plans, net | ' | ' | 0 | ' |
Capital contribution from non-controlling interest | ' | ' | 8,000 | ' |
Tax adjustment from stock plans | ' | ' | 0 | ' |
Stock-based compensation expense | ' | ' | 0 | ' |
Balance, end of period | $7,810 | ' | $7,810 | ' |
Inventories_Net_Schedule_Of_In
Inventories, Net (Schedule Of Inventories, Net) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Inventory, Net [Abstract] | ' | ' | ' |
Raw materials | $941 | $1,633 | $726 |
Work in process | 1,271 | 1,969 | 2,055 |
Finished goods | 407,899 | 359,723 | 472,952 |
Inventory, net | $410,111 | $363,325 | $475,733 |
Intangible_Assets_Net_Narrativ
Intangible Assets, Net (Narrative) (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Estimated useful life | '10 years |
Estimated annual amortization expense for intangible assets subject to amortization, 2013 | $1,330 |
Estimated annual amortization expense for intangible assets subject to amortization, 2014 | 1,330 |
Estimated annual amortization expense for intangible assets subject to amortization, 2015 | 1,330 |
Estimated annual amortization expense for intangible assets subject to amortization, 2016 | 1,330 |
Estimated annual amortization expense for intangible assets subject to amortization, 2017 | $1,330 |
Intangible_Assets_Net_Summary_
Intangible Assets, Net (Summary Of Identifiable Intangible Assets) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Intangible assets subject to amortization, Gross carrying amount | $14,198 | $14,198 | $14,198 |
Intangible assets subject to amortization, Accumulated amortization | -4,999 | -4,001 | -3,651 |
Intangible assets subject to amortization, Net carrying amount | 9,199 | 10,197 | 10,547 |
Intangible assets not subject to amortization | 27,421 | 27,421 | 27,421 |
Intangible assets, net | $36,620 | $37,618 | $37,968 |
Product_Warranty_Reconciliatio
Product Warranty (Reconciliation Of Product Warranties) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Product Warranty Accrual [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | $9,665 | $9,453 | $10,209 | $10,452 |
Charged to costs and expenses | 1,154 | 1,218 | 3,938 | 3,183 |
Claims settled | -806 | -960 | -3,976 | -3,917 |
Other | 126 | 83 | -32 | 76 |
Balance at end of period | $10,139 | $9,794 | $10,139 | $9,794 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Restricted Stock Units [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Unrecognized costs related to share based compensation | $11,331 | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 6 months | ' |
Restricted stock units granted (in shares) | 147,590 | 183,816 |
Stock Option [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Stock options granted (in shares) | 342,358 | 358,169 |
Unrecognized costs related to share based compensation | $6,414 | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 5 months 12 days | ' |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $2,250 | $1,404 | $6,532 | $5,707 |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 873 | 607 | 2,583 | 2,384 |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $1,377 | $797 | $3,949 | $3,323 |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule Of Weighted Average Assumptions) (Details) (Stock Option [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected term, years | '4 years 5 months 26 days | '4 years 6 months 4 days | '4 years 8 months 16 days | '4 years 9 months 11 days |
Expected stock price volatility | 26.87% | 31.95% | 30.63% | 32.20% |
Risk-free interest rate | 1.01% | 0.47% | 0.70% | 0.88% |
Expected dividend yield | 1.38% | 1.63% | 1.62% | 1.80% |
Weighted average grant date fair value (in dollars per share) | $13.04 | $12.37 | $12.34 | $11.57 |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule Of Weighted Average Assumptions For Restricted Stock Units) (Details) (Restricted Stock Units [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Vesting period, years | '4 years 4 days | '4 years | '3 years 11 months 5 days | '3 years 10 months 10 days |
Expected dividend yield | 1.38% | 1.63% | 1.59% | 1.77% |
Estimated average grant date fair value per restricted stock unit (in dollars per share) | $60.27 | $50.46 | $51.97 | $46.57 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | $30,025 | $42,578 | $46,663 | $46,897 |
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax | 10,133 | 7,602 | -5,223 | 4,459 |
Other Comprehensive Income (Loss), Reclassification Adjustments, Net of Tax | -2,253 | -2,633 | -3,535 | -3,809 |
Net other comprehensive income (loss) during the period | 7,880 | 4,969 | -8,758 | 650 |
Accumulated other comprehensive income at end of period | 37,905 | 47,547 | 37,905 | 47,547 |
Unrealized Holding Gains (Losses) on Available-For-Sale Securities [Member] | ' | ' | ' | ' |
Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 7 | -34 | -9 | -2 |
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax | -9 | 32 | 7 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustments, Net of Tax | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | -9 | 32 | 7 | 0 |
Accumulated other comprehensive income at end of period | -2 | -2 | -2 | -2 |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | ' | ' | ' | ' |
Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 4,103 | 6,667 | 2,505 | 7,250 |
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax | -951 | -736 | 1,929 | -143 |
Other Comprehensive Income (Loss), Reclassification Adjustments, Net of Tax | -2,253 | -2,633 | -3,535 | -3,809 |
Net other comprehensive income (loss) during the period | -3,204 | -3,369 | -1,606 | -3,952 |
Accumulated other comprehensive income at end of period | 899 | 3,298 | 899 | 3,298 |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' | ' |
Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 25,915 | 35,945 | 44,167 | 39,649 |
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax | 11,093 | 8,306 | -7,159 | 4,602 |
Other Comprehensive Income (Loss), Reclassification Adjustments, Net of Tax | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 11,093 | 8,306 | -7,159 | 4,602 |
Accumulated other comprehensive income at end of period | $37,008 | $44,251 | $37,008 | $44,251 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Stock repurchase plan, authorized amount | ' | ' | 500,000,000 | ' |
Aggregate shares repurchased under stock repurchase plan (in shares) | ' | ' | 9,593,278 | ' |
Stock purchase value | ' | ' | 441,443,000 | ' |
Stock Repurchased During Period, Value | ' | ' | ' | 206,000 |
Stock Options And Service-Based Restricted Stock Units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, number of shares | 393,993 | 923,275 | 586,220 | 932,362 |
Performance-Based Restricted Stock Units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, number of shares | 10,560 | 40,304 | 10,560 | 38,259 |
Earnings_Per_Share_Reconciliat
Earnings Per Share (Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted average shares of common stock outstanding, used in computing basic earnings per share (in shares) | 34,452 | 33,872 | 34,325 | 33,761 |
Effect of dilutive stock options and restricted stock units | 301 | 283 | 315 | 274 |
Weighted-average shares of common stock outstanding, used in computing diluted earnings per share (in shares) | 34,753 | 34,155 | 34,640 | 34,035 |
Earnings per share of common stock: | ' | ' | ' | ' |
Earnings per share of common stock, Basic (in dollars per share) | $1.58 | $1.90 | $1.68 | $1.79 |
Earnings per share of common stock, Diluted (in dollars per share) | $1.57 | $1.88 | $1.66 | $1.77 |
Segment_Information_Schedule_O
Segment Information (Schedule Of Segment Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
GeographicSegments | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
statement business segments, number of geographic segments | ' | ' | 4 | ' |
Net sales to unrelated entities | $523,084 | $545,005 | $1,151,886 | $1,168,503 |
Income from operations | 76,899 | 87,818 | 79,630 | 82,425 |
Interest income (expense), net | 56 | -17 | 403 | 421 |
Other non-operating income (expense) | 417 | 0 | -686 | 0 |
Income before income tax | 77,372 | 87,801 | 79,347 | 82,846 |
United States [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 323,120 | 347,757 | 663,407 | 672,879 |
Income from operations | 50,260 | 62,475 | 47,113 | 50,039 |
LAAP [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 71,968 | 84,614 | 236,297 | 245,560 |
Income from operations | 9,199 | 7,128 | 23,964 | 24,797 |
EMEA [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 78,102 | 60,583 | 172,056 | 168,655 |
Income from operations | 11,188 | 7,862 | 4,913 | 2,295 |
Canada [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 49,894 | 52,051 | 80,126 | 81,409 |
Income from operations | $6,252 | $10,353 | $3,640 | $5,294 |
Financial_Instruments_And_Risk2
Financial Instruments And Risk Management (Narrative) (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Derivative [Line Items] | ' |
Deferred net gains on derivatives accumulated in other comprehensive income expected reclassification to net income in next twelve months | $1,903 |
Maximum [Member] | ' |
Derivative [Line Items] | ' |
Derivatives remaining maturity | '2 years |
Aggregate unrealized gain of derivative contracts with single counterparty | $1,000 |
Financial_Instruments_And_Risk3
Financial Instruments And Risk Management (Gross Notional Amount Of Outstanding Derivative Instruments) (Details) (Currency Forward Contracts [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivative instruments designated as cash flow hedges: | ' | ' | ' |
Gross notional amount of outstanding derivative instruments designated as cash flow hedges | $84,500 | $70,000 | $97,925 |
Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivative instruments not designated as cash flow hedges: | ' | ' | ' |
Gross notional amount of outstanding derivative instruments not designated as cash flow hedges | $65,900 | $121,934 | $89,462 |
Financial_Instruments_And_Risk4
Financial Instruments And Risk Management (Balance Sheet Classification And Fair Value Of Derivative Instruments) (Details) (Currency Forward Contracts [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | $1,526 | $2,147 | $2,170 |
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | 403 | 4,072 | 582 |
Other Non-Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | 0 | 489 | 0 |
Accrued Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative liabilities | 573 | 579 | 580 |
Accrued Liabilities [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative liabilities | $26 | $743 | $1,640 |
Financial_Instruments_And_Risk5
Financial Instruments And Risk Management (Effect And Classification Of Derivative Instruments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in other comprehensive income or loss | ($951) | ($736) | $1,929 | ($143) |
Cost Of Sales [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) reclassified from accumulated other comprehensive income or loss to income or loss for the effective portion | 3,217 | 3,219 | 4,843 | 4,011 |
Gain (loss) recognized in income or loss for amount excluded from effectiveness testing and for the ineffective portion | 8 | -12 | -37 | -16 |
Cost Of Sales [Member] | No Longer Designated As Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain reclassified from accumulated other comprehensive income or loss as a result of cash flow hedge discontinuance | 0 | 0 | 0 | 441 |
Other Non-operating Income (Expense) [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in income or loss | 137 | 0 | 6,149 | 0 |
Selling, General And Administrative Expense [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in income or loss | $0 | ($881) | $0 | ($7,134) |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Inventory purchase obligations | $240,165 |
Fair_Value_Measures_Assets_And
Fair Value Measures (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | 9 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | $242,230 | $184,139 | $32,475 | |||
Total liabilities measured at fair value | 599 | 1,322 | 2,220 | |||
Investments, remaining maturity, minimum | '3 months | ' | ' | |||
Investments, remaining maturity, maximum | '2 years | ' | ' | |||
Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 183,293 | 99,972 | 27,595 | |||
Total liabilities measured at fair value | 0 | ' | 0 | |||
Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 58,937 | 84,167 | 4,880 | |||
Total liabilities measured at fair value | 599 | 1,322 | 2,220 | |||
Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Total liabilities measured at fair value | 0 | ' | 0 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 599 | 1,322 | 2,220 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | ' | 0 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 599 | 1,322 | 2,220 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | ' | 0 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 153,382 | 70,857 | 13,700 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 153,382 | 70,857 | 13,700 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Cash Equivalents [Member] | Time Deposits [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 25,092 | 25,035 | 10,016 | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 25,092 | 25,035 | 10,016 | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 2,450 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 2,450 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 25,000 | 25,000 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 25,000 | 25,000 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 3,218 | 5,348 | ' | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 3,218 | 5,348 | ' | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Available-For-Sale Short-Term Investments [Member] | Time Deposits [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | ' | 2,128 | [1] | ||
Available-For-Sale Short-Term Investments [Member] | Time Deposits [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | ' | 0 | [1] | ||
Available-For-Sale Short-Term Investments [Member] | Time Deposits [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | ' | 2,128 | [1] | ||
Available-For-Sale Short-Term Investments [Member] | Time Deposits [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | ' | 0 | [1] | ||
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,470 | [1] | 7,596 | [1] | ' | |
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,470 | [1] | 7,596 | [1] | ' | |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 27,320 | [1] | 22,640 | [1] | ' | |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 27,320 | [1] | 22,640 | [1] | ' | |
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 14,425 | [1] | ' | ||
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 14,425 | [1] | ' | ||
Trading Securities [Member] | Mutual Fund Shares [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 259 | ' | ' | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 259 | ' | ' | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | ' | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,929 | 6,219 | 2,752 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,929 | 6,219 | 2,752 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 489 | ' | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 489 | ' | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 4,560 | 4,080 | 3,879 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 4,560 | 4,080 | 3,879 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | ' | 0 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | $0 | ' | $0 | |||
[1] | Investments have remaining maturities greater than three months but less than two years and are available for use in current operations. |