Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
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 Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Public Float | ' | ' | $820,563,000 |
Entity Common Stock, Shares Outstanding | ' | 34,609,322 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $437,489 | $290,781 |
Short-term investments | 91,755 | 44,661 |
Accounts receivable, net (Note 5) | 306,878 | 334,324 |
Inventories, net (Note 6) | 329,228 | 363,325 |
Deferred income taxes (Note 11) | 52,041 | 50,929 |
Prepaid expenses and other current assets | 33,081 | 38,583 |
Total current assets | 1,250,472 | 1,122,603 |
Property, plant, and equipment, net (Note 7) | 279,373 | 260,524 |
Intangible assets, net (Note 8) | 36,288 | 37,618 |
Goodwill (Note 8) | 14,438 | 14,438 |
Other non-current assets | 25,017 | 23,659 |
Total assets | 1,605,588 | 1,458,842 |
LIABILITIES AND EQUITY | ' | ' |
Notes payable (Note 9) | 0 | 156 |
Accounts payable | 173,557 | 142,240 |
Accrued liabilities (Note 10) | 120,397 | 105,190 |
Income taxes payable (Note 11) | 7,251 | 4,406 |
Deferred income taxes (Note 11) | 49 | 67 |
Total current liabilties | 301,254 | 252,059 |
Other long-term liabilities (Notes 12, 13) | 29,527 | 27,171 |
Income taxes payable (Note 11) | 13,984 | 11,638 |
Deferred income taxes (Note 11) | 7,959 | 1,807 |
Total liabilities | 352,724 | 292,675 |
Commitments and contingencies (Note 14) | ' | ' |
Columbia Sportswear Company Shareholders' Equity: | ' | ' |
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock (no par value); 125,000 shares authorized; 34,595 and 34,075 issued and outstanding (Note 15) | 52,325 | 24,814 |
Retained earnings | 1,157,733 | 1,094,690 |
Accumulated other comprehensive income (Note 18) | 35,360 | 46,663 |
Total Columbia Sportswear Company shareholders' equity | 1,245,418 | 1,166,167 |
Non-controlling interest (Note 4) | 7,446 | 0 |
Total equity | 1,252,864 | 1,166,167 |
Total liabilities and equity | $1,605,588 | $1,458,842 |
Consolidated_Balance_Sheets_Co
Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, no par value | $0 | $0 |
Common stock, shares authorized | 125,000 | 125,000 |
Common stock, shares issued | 34,595 | 34,075 |
Common stock, shares outstanding | 34,595 | 34,075 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales | $1,684,996 | $1,669,563 | $1,693,985 |
Cost of sales | 941,341 | 953,169 | 958,677 |
Gross profit | 743,655 | 716,394 | 735,308 |
Selling, general and administrative expenses | 625,656 | 596,635 | 614,658 |
Net licensing income | 13,795 | 13,769 | 15,756 |
Income from operations | 131,794 | 133,528 | 136,406 |
Interest income, net | 503 | 379 | 1,274 |
Other non-operating income (expense) | -871 | 0 | 0 |
Income before income tax | 131,426 | 133,907 | 137,680 |
Income tax expense (Note 11) | -37,823 | -34,048 | -34,201 |
Net income | 93,603 | 99,859 | 103,479 |
Net loss attributable to non-controlling interest | -738 | 0 | 0 |
Net income attributable to Columbia Sportswear Company | $94,341 | $99,859 | $103,479 |
Earnings per share (Note 17): | ' | ' | ' |
Basic | $2.74 | $2.95 | $3.06 |
Diluted | $2.72 | $2.93 | $3.03 |
Weighted average shares outstanding (Note 17): | ' | ' | ' |
Basic | 34,378 | 33,840 | 33,808 |
Diluted | 34,717 | 34,132 | 34,204 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $93,603 | $99,859 | $103,479 |
Other comprehensive income (loss): | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities (net of tax (expense) benefit of ($2), $4 and $23, respectively) | 3 | -7 | -38 |
Unrealized gains (losses) on derivative transactions (net of tax (expense) benefit of $9, ($171) and ($1,858), respectively) | -1,261 | -4,745 | 8,921 |
Foreign currency translation adjustments (net of tax expense of $191, $59 and $315, respectively) | -9,861 | 4,518 | -8,701 |
Other comprehensive income (loss) | -11,119 | -234 | 182 |
Comprehensive income | 82,484 | 99,625 | 103,661 |
Comprehensive loss attributable to non-controlling interest | -554 | 0 | 0 |
Comprehensive income attributable to Columbia Sportswear Company | $83,038 | $99,625 | $103,661 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unrealized holding gains (losses) on available-for-sale securities, tax (expense) benefit | ($2) | $4 | $23 |
Unrealized gains (losses) on derivative transactions, tax (expense) benefit | 9 | -171 | -1,858 |
Foreign currency translation adjustment, tax (expense) benefit | ($191) | ($59) | ($315) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $93,603 | $99,859 | $103,479 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 40,871 | 40,892 | 43,560 |
Loss on disposal or impairment of property, plant, and equipment | 9,344 | 1,582 | 6,485 |
Deferred income taxes | 8,818 | 7,140 | -3,582 |
Stock-based compensation | 8,878 | 7,833 | 7,870 |
Excess tax benefit from employee stock plans | -1,532 | -1,016 | -1,828 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | 27,442 | 18,166 | -54,334 |
Inventories | 34,089 | 2,951 | -55,223 |
Prepaid expenses and other current assets | 5,166 | -2,025 | -10,186 |
Other assets | -4,215 | -1,259 | -4,520 |
Accounts payable | 31,711 | -12,330 | 19,081 |
Accrued liabilities | 12,210 | -5,199 | 17,630 |
Income taxes payable | 5,534 | -11,052 | -7,010 |
Other liabilities | 2,356 | 3,126 | 2,374 |
Net cash provided by operating activities | 274,275 | 148,668 | 63,796 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of short-term investments | -125,390 | -83,969 | -46,349 |
Sales of short-term investments | 78,636 | 42,319 | 112,070 |
Capital expenditures | -69,443 | -50,491 | -78,404 |
Proceeds from sale of property, plant, and equipment | 111 | 7,099 | 168 |
Net cash used in investing activities | -116,086 | -85,042 | -12,515 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from credit facilities | 69,136 | 100,654 | 119,384 |
Repayments on credit facilities | -69,292 | -100,498 | -119,384 |
Proceeds from issuance of common stock under employee stock plans | 19,537 | 14,600 | 10,991 |
Tax payments related to restricted stock unit issuances | -2,291 | -1,486 | -2,974 |
Excess tax benefit from employee stock plans | 1,532 | 1,016 | 1,828 |
Repurchase of common stock | 0 | -206 | -20,000 |
Capital contribution from non-controlling interest | 8,000 | 0 | 0 |
Cash dividends paid | -31,298 | -29,780 | -29,075 |
Net cash used in financing activities | -4,676 | -15,700 | -39,230 |
Net effect of exchange rate changes on cash | -6,805 | 1,821 | -5,274 |
Net increase (decrease) in cash and cash equivalents | 146,708 | 49,747 | 6,777 |
Cash and cash equivalents, beginning of year | 290,781 | 241,034 | 234,257 |
Cash and cash equivalents, end of year | 437,489 | 290,781 | 241,034 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid during the year for income taxes | 22,771 | 43,696 | 42,405 |
Supplemental disclosures of non-cash investing activities: | ' | ' | ' |
Capital expenditures incurred but not yet paid | $5,195 | $5,313 | $952 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Non-controlling Interest [Member] |
In Thousands, unless otherwise specified | |||||
Balance at Dec. 31, 2010 | $1,001,974 | $5,052 | $950,207 | $46,715 | $0 |
Balance, shares at Dec. 31, 2010 | ' | 33,683 | ' | ' | ' |
Net income | 103,479 | 0 | 103,479 | ' | 0 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities, net | -38 | 0 | 0 | -38 | 0 |
Unrealized gains (losses) on derivative transactions, net | 8,921 | 0 | 0 | 8,921 | 0 |
Foreign currency translation adjustments, net | -8,701 | 0 | 0 | -8,701 | 0 |
Cash dividends | -29,075 | 0 | -29,075 | ' | 0 |
Issuance of common stock under employee stock plans, net | 8,017 | 8,017 | ' | ' | 0 |
Tax adjustment from stock plans | 2,098 | 2,098 | ' | ' | 0 |
Stock-based compensation expense | 7,870 | 7,870 | ' | ' | 0 |
Repurchase of common stock | -20,000 | -20,000 | 0 | ' | 0 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 353 | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | -398 | ' | ' | ' |
Balance at Dec. 31, 2011 | 1,074,545 | 3,037 | 1,024,611 | 46,897 | 0 |
Balance, shares at Dec. 31, 2011 | ' | 33,638 | ' | ' | ' |
Net income | 99,859 | 0 | 99,859 | ' | 0 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities, net | -7 | 0 | 0 | -7 | 0 |
Unrealized gains (losses) on derivative transactions, net | -4,745 | 0 | 0 | -4,745 | 0 |
Foreign currency translation adjustments, net | 4,518 | 0 | 0 | 4,518 | 0 |
Cash dividends | -29,780 | 0 | -29,780 | ' | 0 |
Issuance of common stock under employee stock plans, net | 13,114 | 13,114 | ' | ' | 0 |
Tax adjustment from stock plans | 1,036 | 1,036 | ' | ' | 0 |
Stock-based compensation expense | 7,833 | 7,833 | ' | ' | 0 |
Repurchase of common stock | -206 | -206 | ' | ' | 0 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 441 | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | -4 | ' | ' | ' |
Balance at Dec. 31, 2012 | 1,166,167 | 24,814 | 1,094,690 | 46,663 | 0 |
Balance, shares at Dec. 31, 2012 | 34,075 | 34,075 | ' | ' | ' |
Net income | 93,603 | 0 | 94,341 | ' | -738 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities, net | 3 | 0 | 0 | 3 | 0 |
Unrealized gains (losses) on derivative transactions, net | -1,261 | 0 | 0 | -1,261 | 0 |
Foreign currency translation adjustments, net | -9,861 | 0 | 0 | -10,045 | 184 |
Cash dividends | -31,298 | 0 | -31,298 | ' | 0 |
Issuance of common stock under employee stock plans, net | 17,246 | 17,246 | ' | ' | 0 |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 8,000 | ' | ' | ' | 8,000 |
Tax adjustment from stock plans | 1,387 | 1,387 | ' | ' | 0 |
Stock-based compensation expense | 8,878 | 8,878 | ' | ' | 0 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 520 | ' | ' | ' |
Balance at Dec. 31, 2013 | $1,252,864 | $52,325 | $1,157,733 | $35,360 | $7,446 |
Balance, shares at Dec. 31, 2013 | 34,595 | 34,595 | ' | ' | ' |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash dividends per share | $0.91 | $0.88 | $0.86 |
Basis_of_Presentation_and_Orga
Basis of Presentation and Organization | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation and Organization | ' |
BASIS OF PRESENTATION AND ORGANIZATION | |
Nature of the business: | |
Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel, footwear, accessories and equipment. | |
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 (the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. | |
Estimates and assumptions: | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. | |
Changes affecting comparability: | |
In 2013, amounts relating to foreign currency gains and losses are now reported as other non-operating expense on the Consolidated Statements of Operations. Prior year amounts are immaterial and are presented in selling, general and administrative ("SG&A") expenses. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Cash and cash equivalents: | |
Cash and cash equivalents are stated at fair value or at cost, which approximates fair value, and include investments with original maturities of 90 days or less at the date of acquisition. At December 31, 2013 and 2012, cash and cash equivalents consisted of cash, money market funds, time deposits, certificates of deposit, repurchase agreements and municipal bonds with original maturities ranging from overnight to less than 90 days. | |
Investments: | |
At December 31, 2013, short-term investments consisted of certificates of deposit and municipal bonds with original maturities greater than 90 days, variable-rate demand notes that have features which enable the Company to sell back the bonds at par value within 7 days and shares in a short-term bond fund. At December 31, 2012, short-term investments consisted of certificates of deposit and municipal bonds with original maturities greater than 90 days and variable-rate demand notes that have features which enable the Company to sell back the bonds at par value within 7 days. These investments are considered available for use in current operations. The majority of short-term investments are classified as available-for-sale securities and are recorded at fair value with any unrealized gains and losses reported, net of tax, in other comprehensive income. The remainder of short-term investments consists of investments held as part of the Company's deferred compensation plan. These investments are classified as trading securities and are recorded at fair value with any unrealized gain and losses reported in net income. Realized gains or losses are determined based on the specific identification method. | |
At December 31, 2013 and 2012, long-term investments included in other non-current assets consisted of mutual fund shares held to offset liabilities to participants in the Company’s deferred compensation plan. The investments are classified as long-term because the related deferred compensation liabilities are not expected to be paid within the next year. These investments are classified as trading securities and are recorded at fair value with unrealized gains and losses reported in operating expenses, which are offset against gains and losses resulting from changes in corresponding deferred compensation liabilities to participants. | |
Accounts receivable: | |
Accounts receivable have been reduced by an allowance for doubtful accounts. The Company makes ongoing estimates of the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. | |
Inventories: | |
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 inventories for excess, close-out or slow moving items and makes provisions as necessary to properly reflect inventory value. | |
Property, plant, and equipment: | |
Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The principal estimated useful lives are: land improvements, 15 years; buildings and building improvements, 15-30 years; furniture and fixtures, 3-10 years; and machinery and equipment, 3-10 years. Leasehold improvements are depreciated over the lesser of the estimated useful life of the improvement, which is most commonly 7 years, or the remaining term of the underlying lease. | |
Improvements to property, plant and equipment that substantially extend the useful life of the asset are capitalized. Repair and maintenance costs are expensed as incurred. Internal and external costs directly related to the development of internal-use software during the application development stage, including costs incurred for third party contractors and employee compensation, are capitalized and depreciated over a 3-10 year estimated useful life. | |
Impairment of long-lived assets: | |
Long-lived assets are amortized over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. In these cases, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges for long-lived assets are included in SG&A expense and were $8,995,000, $1,653,000 and $6,211,000 for the years ended December 31, 2013, 2012 and 2011, respectively. The charge during the year ended December 31, 2013 was recorded in the EMEA region for its European distribution center. Charges during the years ended December 31, 2012 and 2011 were recorded in the United States and EMEA regions for retail stores. | |
Intangible assets and goodwill: | |
Intangible assets with indefinite useful lives and goodwill are not amortized but are periodically evaluated for impairment. Intangible assets that are determined to have finite lives are amortized using the straight-line method over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. | |
Impairment of intangible assets and goodwill: | |
The Company reviews and tests its intangible assets with indefinite useful lives and goodwill for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company’s intangible assets with indefinite lives consist of trademarks and trade names. Substantially all of the Company’s goodwill is recorded in the United States segment and impairment testing for goodwill is performed at the reporting unit level. In the impairment test for goodwill, the two-step process first compares the estimated fair value of the reporting unit with the carrying amount of that reporting unit. The Company estimates the fair value of its reporting units using a combination of discounted cash flow analysis, comparisons with the market values of similar publicly traded companies and other operating performance based valuation methods, as necessary. If step one indicates impairment, step two compares the estimated fair value of the reporting unit to the estimated fair value of all reporting unit assets and liabilities, except goodwill, to determine the implied fair value of goodwill. The Company calculates impairment as the excess of carrying amount of goodwill over the implied fair value of goodwill. In the impairment tests for trademarks and trade names, the Company compares the estimated fair value of each asset to its carrying amount. The fair values of trademarks and trade names are generally estimated using a relief from royalty method under the income approach. If the carrying amount of a trademark or trade name exceeds its estimated fair value, the Company calculates impairment as the excess of carrying amount over the estimate of fair value. | |
If events or circumstances indicate the carrying value of intangible assets with finite lives may be impaired, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. | |
Impairment charges are classified as a component of SG&A expense. The impairment tests and related fair value estimates are based on a number of factors, including assumptions and estimates for projected sales, income, cash flows, discount rates, remaining useful lives and other operating performance measures. Changes in estimates or the application of alternative assumptions could produce significantly different results. These assumptions and estimates may change in the future due to changes in economic conditions, changes in the Company’s ability to meet sales and profitability objectives or changes in the Company’s business operations or strategic direction. | |
Income taxes: | |
Income taxes are provided on financial statement earnings for financial reporting purposes. Income taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pre-tax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries, where such earnings are considered to be indefinitely invested, or to the extent such recognition would result in a deferred tax asset. | |
Accrued income taxes in the Consolidated Balance Sheets include unrecognized income tax benefits relating to uncertain tax positions, including related interest and penalties, appropriately classified as current or noncurrent. The Company recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. In making this determination, the Company assumes that the taxing authority will examine the position and that it will have full knowledge of all relevant information. The provision for income taxes also includes estimates of interest and penalties related to uncertain tax positions. | |
Derivatives: | |
The effective portion of changes in fair values of outstanding cash flow hedges is recorded in other comprehensive income until earnings are affected by the hedged transaction, and any ineffective portion is included in current income. In most cases amounts recorded in other comprehensive income will be released to earnings some time after maturity of the related derivative. The Consolidated Statements of Operations classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of product costs are recorded in cost of sales when the underlying hedged transaction affects earnings. Unrealized derivative gains and losses, which are recorded in assets and liabilities, respectively, are non-cash items and therefore are taken into account in the preparation of the Consolidated Statements of Cash Flows based on their respective balance sheet classifications. See Note 20 for more information on derivatives and risk management. | |
Foreign currency translation: | |
The assets and liabilities of the Company’s foreign subsidiaries have been translated into U.S. dollars using the exchange rates in effect at period end, and the net sales and expenses have been translated into U.S. dollars using average exchange rates in effect during the period. The foreign currency translation adjustments are included as a separate component of accumulated other comprehensive income in shareholders’ equity and are not currently adjusted for income taxes when they relate to indefinite net investments in non-U.S. operations. | |
Revenue recognition: | |
The Company records wholesale, distributor, e-commerce and licensed product revenues when title passes and the risks and rewards of ownership have passed to the customer. Title generally passes upon shipment to, or upon receipt by, the customer depending on the terms of sale with the customer. Retail store revenues are recorded at the time of sale. | |
Where title passes upon receipt by the customer, predominantly in the Company’s European wholesale business, precise information regarding the date of receipt by the customer is not readily available. In these cases, the Company estimates the date of receipt by the customer based on historical and expected delivery times by geographic location. The Company periodically tests the accuracy of these estimates based on actual transactions. Delivery times vary by geographic location, generally from one to five days. To date, the Company has found these estimates to be materially accurate. | |
At the time of revenue recognition, the Company also provides for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims as well as events and circumstances that indicate changes to historical rates of returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from the estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that have been established, the Company would record a reduction or increase to net revenues in the period in which it made such determination. | |
Cost of sales: | |
The expenses that are included in cost of sales include all direct product and conversion-related costs, and costs related to shipping, duties and importation. Specific provisions for excess, close-out or slow moving inventory are also included in cost of sales. In addition, 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. | |
Selling, general and administrative expense: | |
SG&A expense consists of personnel-related costs, advertising, depreciation and other selling and general operating expenses related to the Company’s business functions, including planning, receiving finished goods, warehousing, distribution, retail operations and information technology. | |
Shipping and handling costs: | |
Shipping and handling fees billed to customers and consumers are recorded as revenue. The direct costs associated with shipping goods to customers and consumers are recorded as cost of sales. Inventory planning, receiving and handling costs are recorded as a component of SG&A expenses and were $56,891,000, $59,212,000 and $65,290,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Stock-based compensation: | |
Stock-based compensation cost is estimated at the grant date based on the award’s fair value and is recognized as expense over the requisite service period using the straight-line attribution method. The Company estimates stock-based compensation for stock options granted using the Black-Scholes option pricing model, which requires various highly subjective assumptions, including volatility and expected option life. Further, the Company estimates forfeitures for stock-based awards granted which are not expected to vest. For restricted stock unit awards subject to performance conditions, the amount of compensation expense recorded in a given period reflects the Company's assessment of the probability of achieving its performance targets. If any of these inputs or assumptions changes significantly, stock-based compensation expense may differ materially in the future from that recorded in the current period. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company’s experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. | |
Advertising costs: | |
Advertising costs are expensed in the period incurred and are included in SG&A expenses. Total advertising expense, including cooperative advertising costs, was $78,095,000, $76,714,000 and $85,003,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Through cooperative advertising programs, the Company reimburses its wholesale customers for some of their costs of advertising the Company’s products based on various criteria, including the value of purchases from the Company and various advertising specifications. Cooperative advertising costs are included in expenses because the Company receives an identifiable benefit in exchange for the cost, the advertising may be obtained from a party other than the customer, and the fair value of the advertising benefit can be reasonably estimated. Cooperative advertising costs were $6,032,000, $7,851,000 and $8,554,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
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 adoption of this standard did not 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 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. |
Concentrations
Concentrations | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentrations | ' |
CONCENTRATIONS | |
Trade Receivables | |
The Company had one customer in its Canada segment that accounted for approximately 10.5% of consolidated accounts receivable at December 31, 2013. No single customer accounted for 10% or more of consolidated accounts receivable at December 31, 2012. No single customer accounted for 10% or more of consolidated revenues for any of the years ended December 31, 2013, 2012 or 2011. | |
Derivatives | |
The Company uses derivative instruments to hedge the currency exchange rate risk of anticipated transactions denominated in non-functional currencies that are designated and qualify as cash flow hedges. The Company also uses derivative instruments to economically hedge the currency exchange rate risk of certain investment positions, to hedge balance sheet re-measurement risk and to hedge other anticipated transactions that do not qualify as cash flow hedges. At December 31, 2013, the Company’s derivative contracts had a remaining maturity of approximately two years or less. The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was less than $2,000,000 at December 31, 2013. All of the Company’s derivative counterparties have investment grade credit ratings and as a result, the Company does not require collateral to facilitate transactions. See Note 20 for further disclosures concerning derivatives. | |
Country and supplier concentrations | |
The Company’s products are produced by independent factories located outside the United States, principally in Southeast Asia. Apparel is manufactured in approximately 20 countries, with Vietnam and China accounting for approximately 67% of 2013 global apparel production. Footwear is manufactured in four countries, with China and Vietnam accounting for approximately 99% of 2013 global footwear production. The five largest apparel factory groups accounted for approximately 30% of 2013 global apparel production, with the largest factory group accounting for 13% of 2013 global apparel production. The five largest footwear factory groups accounted for approximately 79% of 2013 global footwear production, with the largest factory group accounting for 36% of 2013 global footwear production. These companies, however, have multiple factory locations, many of which are in different countries, thus reducing the risk that unfavorable conditions at a single factory or location will have a material adverse effect on the Company. |
NonControlling_Interest_NonCon
Non-Controlling Interest Non-Controlling Interest (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Noncontrolling Interest [Abstract] | ' |
Non-controlling Interest | ' |
NOTE 4—NON-CONTROLLING INTEREST | |
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Limited ("Swire") to support the development of the Company's business in China. The joint venture was in a formation and start-up phase during 2013 and began operations on January 1, 2014. In 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 and operations of the joint venture are included in the Consolidated Financial Statements as of December 31, 2013. Swire's share of the net loss of the joint venture is included in net loss attributable to non-controlling interest in the Consolidated Statements of Operations for the year ended December 31, 2013. The 40% non-controlling equity interest in the joint venture is presented separately in the Consolidated Balance Sheet and Consolidated Statement of Equity for the year ended December 31, 2013. |
Accounts_Receivable_Net
Accounts Receivable, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Accounts Receivable, Net | ' | ||||||||
ACCOUNTS RECEIVABLE, NET | |||||||||
Accounts receivable, net, is as follows (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Trade accounts receivable | $ | 315,160 | $ | 341,701 | |||||
Allowance for doubtful accounts | (8,282 | ) | (7,377 | ) | |||||
Accounts receivable, net | $ | 306,878 | $ | 334,324 | |||||
Inventories_Net
Inventories, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories, Net | ' | ||||||||
INVENTORIES, NET | |||||||||
Inventories, net, consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 1,130 | $ | 1,633 | |||||
Work in process | 1,203 | 1,969 | |||||||
Finished goods | 326,895 | 359,723 | |||||||
$ | 329,228 | $ | 363,325 | ||||||
Property_Plant_and_Equipment_N
Property, Plant, and Equipment, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment, Net | ' | ||||||||
PROPERTY, PLANT, AND EQUIPMENT, NET | |||||||||
Property, plant, and equipment consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land and improvements | $ | 21,321 | $ | 20,036 | |||||
Buildings and improvements | 165,582 | 166,365 | |||||||
Machinery and equipment | 212,097 | 206,805 | |||||||
Furniture and fixtures | 65,540 | 54,914 | |||||||
Leasehold improvements | 78,631 | 72,426 | |||||||
Construction in progress | 62,582 | 43,021 | |||||||
605,753 | 563,567 | ||||||||
Less accumulated depreciation | (326,380 | ) | (303,043 | ) | |||||
$ | 279,373 | $ | 260,524 | ||||||
Intangible_Assets_Net_and_Good
Intangible Assets, Net and Goodwill | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||
Intangible Assets, Net and Goodwill | ' | ||||||||
INTANGIBLE ASSETS, NET AND GOODWILL | |||||||||
Intangible assets that are determined to have finite lives include patents and purchased technology and are amortized over their estimated useful lives, which is approximately 10 years. Intangible assets with indefinite useful lives include trademarks and trade names and are not amortized but are periodically evaluated for impairment. | |||||||||
Identifiable intangible assets consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Intangible assets subject to amortization: | |||||||||
Gross carrying amount | $ | 14,198 | $ | 14,198 | |||||
Accumulated amortization | (5,331 | ) | (4,001 | ) | |||||
Net carrying amount | 8,867 | 10,197 | |||||||
Intangible assets not subject to amortization | 27,421 | 27,421 | |||||||
Intangible assets, net | $ | 36,288 | $ | 37,618 | |||||
Amortization expense for the years ended December 31, 2013, 2012, and 2011 was $1,330,000, $1,402,000 and $1,403,000, respectively. Annual amortization expense for intangible assets subject to amortization is estimated to be $1,330,000 in 2014 through 2018. | |||||||||
At December 31, 2013, 2012 and 2011, the Company determined that its goodwill and intangible assets were not impaired. |
ShortTerm_Borrowings_and_Credi
Short-Term Borrowings and Credit Lines | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Short-Term Borrowings and Credit Lines | ' |
SHORT-TERM BORROWINGS AND CREDIT LINES | |
The Company has a domestic credit agreement for an unsecured, committed $125,000,000 revolving line of credit. The maturity date of this agreement is July 1, 2018. Interest, payable monthly, is based on the Company’s applicable funded debt ratio, ranging from LIBOR plus 87.5 to 162.5 basis points. This line of credit requires the Company to comply with certain financial covenants covering net income, tangible net worth and borrowing basis. If the Company is in default, it is prohibited from paying dividends or repurchasing common stock. At December 31, 2013, the Company was in compliance with all associated covenants. At December 31, 2013 and 2012, no balance was outstanding under this line of credit. | |
The Company’s Canadian subsidiary has available an unsecured and uncommitted line of credit guaranteed by the parent company providing for borrowing up to a maximum of C$30,000,000 (US$28,241,000) at December 31, 2013. The revolving line accrues interest at the bank’s Canadian prime rate. At December 31, 2013, there was no balance outstanding under this line of credit. At December 31, 2012, $156,000 was outstanding under this line. | |
The Company’s European subsidiary has available two separate unsecured and uncommitted lines of credit guaranteed by the parent company providing for borrowing up to a maximum of €25,800,000 and €5,000,000, respectively (combined US$42,331,000), at December 31, 2013, of which US$3,161,000 of the €5,000,000 line is designated as a European customs guarantee. These lines accrue interest based on the European Central Bank refinancing rate plus 50 basis points and the Euro Overnight Index Average plus 75 basis points, respectively. There was no balance outstanding under either line at December 31, 2013 or 2012. | |
The Company’s Japanese subsidiary has two separate unsecured and uncommitted lines of credit guaranteed by the parent company providing for borrowing up to a maximum of US$10,000,000 and ¥300,000,000, respectively (combined US$12,849,000), at December 31, 2013. These lines accrue interest at LIBOR plus 100 basis points and the Bank of Tokyo Prime Rate, respectively. There was no balance outstanding under either line at December 31, 2013 or 2012. | |
On July 5, 2013, the Company’s Korean subsidiary decreased the maximum borrowing permitted under its unsecured and uncommitted line of credit agreement to US$20,000,000. The revolving line accrues interest at the Korean three-month CD rate plus 220 basis points. There was no balance outstanding under this line at December 31, 2013 or 2012. | |
Off-Balance Sheet Arrangements | |
The Company has arrangements in place to facilitate the import and purchase of inventory through import letters of credit. The Company has available unsecured and uncommitted import letters of credit in the aggregate amount of $5,000,000 subject to annual renewal. At December 31, 2013, no balance was outstanding under these letters of credit. |
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accrued Liabilities, Current [Abstract] | ' | ||||||||||||
Accrued Liabilities | ' | ||||||||||||
ACCRUED LIABILITIES | |||||||||||||
Accrued liabilities consisted of the following (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Accrued salaries, bonus, vacation and other benefits | $ | 68,046 | $ | 55,728 | |||||||||
Accrued import duties | 10,594 | 15,023 | |||||||||||
Product warranties | 10,768 | 10,209 | |||||||||||
Other | 30,989 | 24,230 | |||||||||||
$ | 120,397 | $ | 105,190 | ||||||||||
A reconciliation of product warranties is as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 10,209 | $ | 10,452 | $ | 10,256 | |||||||
Provision for warranty claims | 5,644 | 4,905 | 4,758 | ||||||||||
Warranty claims | (5,054 | ) | (5,272 | ) | (4,468 | ) | |||||||
Other | (31 | ) | 124 | (94 | ) | ||||||||
Balance at end of period | $ | 10,768 | $ | 10,209 | $ | 10,452 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
INCOME TAXES | |||||||||||||
Consolidated income from continuing operations before income taxes consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | 88,561 | $ | 73,625 | $ | 68,412 | |||||||
Foreign operations | 42,865 | 60,282 | 69,268 | ||||||||||
Income before income tax | $ | 131,426 | $ | 133,907 | $ | 137,680 | |||||||
The components of the provision (benefit) for income taxes consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 14,953 | $ | 14,365 | $ | 16,384 | |||||||
State and local | 1,999 | 876 | 1,995 | ||||||||||
Non-U.S. | 14,178 | 12,448 | 19,508 | ||||||||||
31,130 | 27,689 | 37,887 | |||||||||||
Deferred: | |||||||||||||
Federal | 11,363 | 5,806 | 407 | ||||||||||
State and local | (120 | ) | 690 | 229 | |||||||||
Non-U.S. | (4,550 | ) | (137 | ) | (4,322 | ) | |||||||
6,693 | 6,359 | (3,686 | ) | ||||||||||
Income tax expense | $ | 37,823 | $ | 34,048 | $ | 34,201 | |||||||
The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(percent of income) | |||||||||||||
Provision for federal income taxes at the statutory rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal benefit | 1.5 | 1.7 | 1.5 | ||||||||||
Non-U.S. income taxed at different rates | (3.7 | ) | (5.4 | ) | (6.5 | ) | |||||||
Foreign tax credits | (0.5 | ) | — | (1.8 | ) | ||||||||
Reduction of unrecognized tax benefits | (1.9 | ) | (4.3 | ) | (3.5 | ) | |||||||
Research credits | (2.1 | ) | (1.7 | ) | (0.6 | ) | |||||||
Other | 0.5 | 0.1 | 0.7 | ||||||||||
Actual provision for income taxes | 28.8 | % | 25.4 | % | 24.8 | % | |||||||
Significant components of the Company’s deferred taxes consisted of the following (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Non-deductible accruals and allowances | $ | 37,986 | $ | 31,139 | |||||||||
Capitalized inventory costs | 22,589 | 25,294 | |||||||||||
Stock compensation | 6,329 | 6,633 | |||||||||||
Net operating loss carryforwards | 9,683 | 6,198 | |||||||||||
Depreciation and amortization | 2,413 | 1,568 | |||||||||||
Tax credits | 198 | 10,398 | |||||||||||
Other | 1,055 | 755 | |||||||||||
Gross deferred tax assets | 80,253 | 81,985 | |||||||||||
Valuation allowance | (8,633 | ) | (6,935 | ) | |||||||||
Net deferred tax assets | 71,620 | 75,050 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | (20,243 | ) | (16,802 | ) | |||||||||
Foreign currency loss | (2,540 | ) | (2,313 | ) | |||||||||
Other | (810 | ) | (587 | ) | |||||||||
Gross deferred tax liabilities | (23,593 | ) | (19,702 | ) | |||||||||
Total net deferred taxes | $ | 48,027 | $ | 55,348 | |||||||||
The Company records net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The Company had net operating loss carryforwards at December 31, 2013 and 2012 in certain international tax jurisdictions of $76,525,000 and $56,749,000, respectively, which will begin to expire in 2015. The net operating losses result in deferred tax assets of $9,683,000 and $6,198,000 at December 31, 2013 and 2012, respectively. These deferred tax assets were subject to valuation allowances of $8,297,000 and $6,198,000 at December 31, 2013 and 2012, respectively. To the extent that the Company reverses a portion of the valuation allowance, the adjustment would be recorded as a reduction to income tax expense. | |||||||||||||
Non-current deferred tax assets of $3,994,000 and $6,293,000 are included as a component of other non-current assets in the consolidated balance sheet at December 31, 2013 and 2012, respectively. | |||||||||||||
The Company had undistributed earnings of foreign subsidiaries of approximately $320,708,000 at December 31, 2013 for which deferred taxes have not been provided. Such earnings are considered indefinitely invested outside of the United States. If these earnings were repatriated to the United States, the earnings would be subject to U.S. taxation. The amount of the unrecognized deferred tax liability associated with the undistributed earnings was approximately $77,825,000 at December 31, 2013. The unrecognized deferred tax liability approximates the excess of the United States tax liability over the creditable foreign taxes paid that would result from a full remittance of undistributed earnings. | |||||||||||||
The Company conducts business globally, and as a result, the Company or one or more of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Canada, China, France, Germany, Hong Kong, Italy, Japan, South Korea, Switzerland, the United Kingdom and the United States. Internationally, the Company has effectively settled Canadian and Korean tax examinations of all years through 2008, French tax examinations of all years through 2009 and Swiss and Japanese tax examinations of all years through 2010. The Company received notification from the Korean National Tax Service on February 11, 2014, indicating that its 2009 and 2010 income tax returns have been selected for audit. The Company has effectively settled U.S. tax examinations of all years through 2009, with the exception of amended 2008 and 2009 income tax refund claims that are being reviewed by the Internal Revenue Service ("IRS"). The IRS commenced an examination of the Company's U.S. income tax returns for 2011 and 2012 in the second quarter and fourth quarter of 2013, respectively. It is anticipated that these examinations will be completed by the end of 2014. The Company does not anticipate that adjustments relative to ongoing tax audits will result in a material changes to its consolidated financial position, results of operations or cash flows. | |||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 12,431 | $ | 14,316 | $ | 18,694 | |||||||
Increases related to prior year tax positions | 252 | 3,208 | 43 | ||||||||||
Decreases related to prior year tax positions | (332 | ) | (19 | ) | (141 | ) | |||||||
Increases related to current year tax positions | 4,281 | 2,049 | 1,388 | ||||||||||
Settlements | (84 | ) | (1,817 | ) | (649 | ) | |||||||
Expiration of statute of limitations | (1,909 | ) | (5,306 | ) | (5,019 | ) | |||||||
Balance at end of period | $ | 14,639 | $ | 12,431 | $ | 14,316 | |||||||
Due to the potential for resolution of income tax audits currently in progress, and the expiration of various statutes of limitation, it is reasonably possible that the unrecognized tax benefits balance may change within the twelve months following December 31, 2013 by a range of zero to $14,077,000. Open tax years, including those previously mentioned, contain matters that could be subject to differing interpretations of applicable tax laws and regulations as they relate to the amount, timing, or inclusion of revenue and expenses or the sustainability of income tax credits for a given examination cycle. | |||||||||||||
Unrecognized tax benefits of $12,679,000 and $10,328,000 would affect the effective tax rate if recognized at December 31, 2013 and 2012, respectively. | |||||||||||||
The Company recognizes interest expense and penalties related to income tax matters in income tax expense. The Company recognized a net reversal of accrued interest and penalties of $253,000, $357,000 and $501,000 in 2013, 2012 and 2011, respectively, all of which related to uncertain tax positions. The Company had $2,823,000 and $3,077,000 of accrued interest and penalties related to uncertain tax positions at December 31, 2013 and 2012, respectively. |
Other_LongTerm_Liabilities
Other Long-Term Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||
Other Long-Term Liabilities | ' | ||||||||
OTHER LONG-TERM LIABILITIES | |||||||||
Other long-term liabilities consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Straight-line and deferred rent liabilities | $ | 22,525 | $ | 20,395 | |||||
Asset retirement obligations | 2,052 | 1,849 | |||||||
Deferred compensation plan liability (Note 13) | 4,855 | 4,080 | |||||||
Other | 95 | 847 | |||||||
$ | 29,527 | $ | 27,171 | ||||||
Retirement_Savings_Plans
Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Retirement Savings Plans | ' |
RETIREMENT SAVINGS PLANS | |
401(k) Profit-Sharing Plan | |
The Company has a 401(k) profit-sharing plan, which covers substantially all U.S. employees. Participation begins the first day of the quarter following completion of 30 days of service. The Company may elect to make discretionary matching and/or non-matching contributions. All Company contributions to the plan as determined by the Board of Directors totaled $5,200,000, $4,966,000 and $5,223,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Deferred Compensation Plan | |
The Company sponsors a nonqualified retirement savings plan for certain senior management employees whose contributions to the tax qualified 401(k) plan would be limited by provisions of the Internal Revenue Code. This plan allows participants to defer receipt of a portion of their salary and incentive compensation and to receive matching contributions for a portion of the deferred amounts. Company contributions to the plan totaled $483,000, $259,000 and $245,000 for the years ended December 31, 2013, 2012 and 2011, respectively. Participants earn a return on their deferred compensation based on investment earnings of participant-selected mutual funds. Changes in the market value of the participants’ investment selections are recorded as an adjustment to deferred compensation liabilities, with an offset to compensation expense. Deferred compensation, including accumulated earnings on the participant-directed investment selections, is distributable in cash at participant-specified dates or upon retirement, death, disability or termination of employment. At December 31, 2013 and 2012, the liability to participants under this plan was $4,855,000 and $4,080,000, respectively, and was recorded in other long-term liabilities. The current portion of the participant liability at December 31, 2013 was $336,000. The current portion of the participant liability at December 31, 2012 was not material. | |
The Company has purchased specific mutual funds in the same amounts as the participant-directed investment selections underlying the deferred compensation liabilities. These investment securities and earnings thereon, held in an irrevocable trust, are intended to provide a source of funds to meet the deferred compensation obligations, subject to claims of creditors in the event of the Company’s insolvency. The mutual funds are recorded at fair value in other non-current assets. At December 31, 2013 and 2012, the fair value of the mutual fund investments was $4,855,000 and $4,080,000, respectively. Realized and unrealized gains and losses on the mutual fund investments are offset against gains and losses resulting from changes in corresponding deferred compensation liabilities to participants. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments and Contingencies | ' | ||||||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||||||
Operating Leases | |||||||||||||
The Company leases, among other things, retail space, office space, warehouse facilities, storage space, vehicles and equipment. Generally, the base lease terms are between 5 and 10 years. Certain lease agreements contain scheduled rent escalation clauses in their future minimum lease payments. Future minimum lease payments are recognized on a straight-line basis over the minimum lease term and the pro rata portion of scheduled rent escalations is included in other long-term liabilities. Certain retail space lease agreements provide for additional rents based on a percentage of annual sales in excess of stipulated minimums (“percentage rent”). Certain lease agreements require the Company to pay real estate taxes, insurance, common area maintenance (“CAM”), and other costs, collectively referred to as operating costs, in addition to base rent. Percentage rent and operating costs are recognized as incurred in SG&A expense in the Consolidated Statements of Operations. Certain lease agreements also contain lease incentives, such as tenant improvement allowances and rent holidays. The Company recognizes the benefits related to the lease incentives on a straight-line basis over the applicable lease term. | |||||||||||||
Rent expense, including percentage rent but excluding operating costs for which the Company is obligated, consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rent expense included in SG&A expense | $ | 53,972 | $ | 51,853 | $ | 46,869 | |||||||
Rent expense included in cost of sales | 1,592 | 1,528 | 1,429 | ||||||||||
$ | 55,564 | $ | 53,381 | $ | 48,298 | ||||||||
Approximate future minimum payments, including rent escalation clauses and stores that are not yet open, on all lease obligations at December 31, 2013, are as follows (in thousands). Operating lease obligations listed below do not include percentage rent, real estate taxes, insurance, CAM, and other costs for which the Company is obligated. These operating lease commitments are not reflected on the Consolidated Balance Sheets. | |||||||||||||
2014 | $ | 44,689 | |||||||||||
2015 | 40,298 | ||||||||||||
2016 | 37,301 | ||||||||||||
2017 | 33,962 | ||||||||||||
2018 | 30,511 | ||||||||||||
Thereafter | 88,926 | ||||||||||||
$ | 275,687 | ||||||||||||
Inventory Purchase Obligations | |||||||||||||
Inventory purchase obligations consist of open production purchase orders for sourced apparel, footwear, accessories and equipment, and raw material commitments not included in open production purchase orders. At December 31, 2013, inventory purchase obligations were $216,752,000. To support certain inventory purchase obligations, the Company maintains unsecured and uncommitted lines of credit available for issuing import letters of credit. At December 31, 2013, the Company had no balance outstanding under these letters of credit. | |||||||||||||
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. | |||||||||||||
Indemnities and Guarantees | |||||||||||||
During its normal course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These include (i) intellectual property indemnities to the Company’s customers and licensees in connection with the use, sale and/or license of Company products, (ii) indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, (iii) indemnities to customers, vendors and service providers pertaining to claims based on the negligence or willful misconduct of the Company, (iv) executive severance arrangements and (v) indemnities involving the accuracy of representations and warranties in certain contracts. The duration of these indemnities, commitments and guarantees varies, and in certain cases, may be indefinite. The majority of these indemnities, commitments and guarantees do not provide for any limitation of the maximum potential for future payments the Company could be obligated to make. The Company has not recorded any liability for these indemnities, commitments and guarantees in the accompanying Consolidated Balance Sheets. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Shareholders' Equity | ' |
SHAREHOLDERS’ EQUITY | |
Since the inception of the Company’s stock repurchase plan in 2004 through December 31, 2013, the Company’s Board of Directors has authorized the repurchase of $500,000,000 of the Company’s common stock. As of December 31, 2013, the Company had repurchased 9,593,278 shares under this program at an aggregate purchase price of approximately $441,443,000. During the year ended December 31, 2013, the Company did not repurchase any shares of common stock under the stock repurchase plan. 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. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Stock-Based Compensation | ' | |||||||||||||
STOCK-BASED COMPENSATION | ||||||||||||||
The Company’s stock incentive plan (the “Plan”) provides for issuance of up to 10,400,000 shares of the Company’s Common Stock, of which 2,187,824 shares were available for future grants under the Plan at December 31, 2013. The Plan allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units and other stock-based or cash-based awards. The Company uses original issuance shares to satisfy share-based payments. | ||||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Cost of sales | $ | 347 | $ | 287 | $ | 282 | ||||||||
SG&A expense | 8,531 | 7,546 | 7,588 | |||||||||||
Pre-tax stock-based compensation expense | 8,878 | 7,833 | 7,870 | |||||||||||
Income tax benefits | (3,102 | ) | (2,724 | ) | (2,729 | ) | ||||||||
Total stock-based compensation expense, net of tax | $ | 5,776 | $ | 5,109 | $ | 5,141 | ||||||||
The Company realized a tax benefit for the deduction from stock-based award transactions of $4,793,000, $3,410,000, and $4,702,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Stock Options | ||||||||||||||
Options to purchase the Company’s common stock are granted at exercise prices equal to or greater than the fair market value of the Company’s common stock on the date of grant. Options granted after 2000 and before 2009 generally vest and become exercisable over a period of four years (25 percent on the first anniversary date following the date of grant and monthly thereafter) and expire ten years from the date of the grant, with the exception of most options granted in 2005. Most options granted in 2005 vested and became exercisable one year from the date of grant and expire ten years from the date of grant. Options granted after 2008 generally vest and become exercisable ratably on an annual basis over a period of four years and expire ten years from the date of the grant. | ||||||||||||||
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, expected volatility of the Company’s stock over the option’s expected term, the risk-free interest rate over the option’s expected term, and the Company’s expected annual dividend yield. The option's expected term is derived from historical option exercise behavior and the option's terms and conditions, which the Company believes provide a reasonable basis for estimating an expected term. The expected volatility is estimated based on observations of the Company's historical volatility over the most recent term commensurate with the expected term. The risk-free interest rate is based on the U.S. Treasury yield approximating the expected term. The dividend yield is based on the anticipated cash dividend payouts. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company’s experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. | ||||||||||||||
The following table presents the weighted average assumptions for the years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 (1) | ||||||||||||
Expected term | 4.70 years | 4.78 years | 5.12 years | |||||||||||
Expected stock price volatility | 30.53% | 32.20% | 30.76% | |||||||||||
Risk-free interest rate | 0.71% | 0.88% | 1.84% | |||||||||||
Expected dividend yield | 1.62% | 1.80% | 1.31% | |||||||||||
Weighted average grant date fair value | $12.36 | $11.57 | $16.09 | |||||||||||
————— | ||||||||||||||
-1 | During the year ended December 31, 2011, the Company granted two stock option awards totaling 53,720 shares that vest 100% on the fifth anniversary of the grant date. Because the Company did not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. | |||||||||||||
The following table summarizes stock option activity under the Plan: | ||||||||||||||
Number of | Weighted | Weighted Average Remaining Contractual Life | Aggregate Intrinsic Value (in thousands) | |||||||||||
Shares | Average | |||||||||||||
Exercise | ||||||||||||||
Price | ||||||||||||||
Options outstanding at January 1, 2011 | 1,872,214 | $ | 42.84 | 6.33 | $ | 33,057 | ||||||||
Granted | 340,973 | 61.38 | ||||||||||||
Cancelled | (40,396 | ) | 43.68 | |||||||||||
Exercised | (253,695 | ) | 43.32 | |||||||||||
Options outstanding at December 31, 2011 | 1,919,096 | 46.05 | 6.25 | 9,141 | ||||||||||
Granted | 358,169 | 48.82 | ||||||||||||
Cancelled | (172,465 | ) | 52.9 | |||||||||||
Exercised | (380,811 | ) | 38.34 | |||||||||||
Options outstanding at December 31, 2012 | 1,723,989 | 47.64 | 6.15 | 13,001 | ||||||||||
Granted | 354,110 | 54.66 | ||||||||||||
Cancelled | (59,549 | ) | 53.33 | |||||||||||
Exercised | (444,418 | ) | 43.96 | |||||||||||
Options outstanding at December 31, 2013 | 1,574,132 | $ | 50.04 | 6.36 | $ | 45,187 | ||||||||
Options vested and expected to vest at December 31, 2013 | 1,520,425 | $ | 49.9 | 6.28 | $ | 43,859 | ||||||||
Options exercisable at December 31, 2013 | 821,859 | $ | 47.15 | 4.66 | $ | 25,969 | ||||||||
The aggregate intrinsic value in the table above represents pre-tax intrinsic value that would have been realized if all options had been exercised on the last business day of the period indicated, based on the Company’s closing stock price on that day. | ||||||||||||||
Total stock option compensation expense for the years ended December 31, 2013, 2012 and 2011 was $3,479,000, $3,180,000 and $3,550,000, respectively. At December 31, 2013, unrecognized costs related to stock options totaled approximately $5,637,000, before any related tax benefit. The unrecognized costs related to stock options are being amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at December 31, 2013 are expected to be recognized over a weighted average period of 2.23 years. The aggregate intrinsic value of stock options exercised was $7,491,000, $5,517,000 and $4,906,000 for the years ended December 31, 2013, 2012 and 2011, respectively. The total cash received as a result of stock option exercises for the years ended December 31, 2013, 2012 and 2011 was $19,537,000, $14,600,000 and $10,991,000, respectively. | ||||||||||||||
Restricted Stock Units | ||||||||||||||
Service-based restricted stock units are granted at no cost to key employees, and shares granted prior to 2009 generally vest over three years from the date of grant. Service-based restricted stock units granted after 2008 generally vest over a period of four years. Performance-based restricted stock units are granted at no cost to certain members of the Company’s senior executive team, excluding the Chairman and the President and Chief Executive Officer. Performance-based restricted stock units granted prior to 2010 generally vest over a performance period of between two and one-half and three years with an additional required service period of one year. Performance-based restricted stock units granted after 2009 generally vest over a performance period of between two and three years. Restricted stock units vest in accordance with the terms and conditions established by the Compensation Committee of the Board of Directors, and are based on continued service and, in some instances, on individual performance and/or Company performance. For the majority of restricted stock units granted, the number of shares issued on the date the restricted stock units vest is net of the minimum statutory withholding requirements that the Company pays in cash to the appropriate taxing authorities on behalf of its employees. For the years ended December 31, 2013, 2012 and 2011, the Company withheld 41,683, 30,299 and 48,059 shares, respectively, to satisfy $2,291,000, $1,486,000 and $2,974,000 of employees’ tax obligations, respectively. | ||||||||||||||
The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. The relevant inputs and assumptions used in the Black-Scholes model to compute the discount are the vesting period, expected annual 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 the years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Vesting period | 3.84 years | 3.86 years | 3.96 years | |||||||||||
Expected dividend yield | 1.58% | 1.77% | 1.33% | |||||||||||
Estimated average fair value per restricted stock unit granted | $53.34 | $46.57 | $58.37 | |||||||||||
The following table summarizes the restricted stock unit activity under the Plan: | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Shares | Grant Date Fair Value Per Share | |||||||||||||
Restricted stock units outstanding at January 1, 2011 | 328,795 | $ | 37.63 | |||||||||||
Granted | 145,768 | 58.37 | ||||||||||||
Vested | (146,951 | ) | 38.01 | |||||||||||
Forfeited | (30,860 | ) | 41.79 | |||||||||||
Restricted stock units outstanding at December 31, 2011 | 296,752 | 47.19 | ||||||||||||
Granted | 185,303 | 46.57 | ||||||||||||
Vested | (91,383 | ) | 42.39 | |||||||||||
Forfeited | (70,114 | ) | 46.26 | |||||||||||
Restricted stock units outstanding at December 31, 2012 | 320,558 | 48.31 | ||||||||||||
Granted | 161,237 | 53.34 | ||||||||||||
Vested | (116,357 | ) | 46.08 | |||||||||||
Forfeited | (28,191 | ) | 49.9 | |||||||||||
Restricted stock units outstanding at December 31, 2013 | 337,247 | $ | 51.33 | |||||||||||
Restricted stock unit compensation expense for the years ended December 31, 2013, 2012 and 2011 was $5,399,000, $4,653,000 and $4,320,000, respectively. At December 31, 2013, unrecognized costs related to restricted stock units totaled approximately $10,640,000, 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 December 31, 2013 are expected to be recognized over a weighted average period of 2.26 years. The total grant date fair value of restricted stock units vested during the year ended December 31, 2013, 2012 and 2011 was $5,362,000, $3,874,000 and $5,586,000, respectively. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||||
Dec. 31, 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 the common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted average common shares outstanding, used in computing basic earnings per share | 34,378 | 33,840 | 33,808 | ||||||||||
Effect of dilutive stock options and restricted stock units | 339 | 292 | 396 | ||||||||||
Weighted-average common shares outstanding, used in computing diluted earnings per share | 34,717 | 34,132 | 34,204 | ||||||||||
Earnings per share of common stock attributable to Columbia Sportswear Company: | |||||||||||||
Basic | $ | 2.74 | $ | 2.95 | $ | 3.06 | |||||||
Diluted | 2.72 | 2.93 | 3.03 | ||||||||||
Stock options and service-based restricted stock units representing 360,795, 887,186 and 452,907 shares of common stock for the years ended December 31, 2013, 2012 and 2011, respectively, were outstanding but were excluded in 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 10,929, 36,506 and 34,448 shares for the years ended December 31, 2013, 2012 and 2011, 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. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | ||||||||||||||||
Dec. 31, 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 Consolidated Balance Sheets consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on 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 related tax effects, for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available for sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at January 1, 2011 | $ | 36 | $ | (1,671 | ) | $ | 48,350 | $ | 46,715 | ||||||||
Other comprehensive income (loss) before reclassifications | (38 | ) | 3,489 | (8,701 | ) | (5,250 | ) | ||||||||||
Amounts reclassified from other comprehensive income | — | 5,432 | — | 5,432 | |||||||||||||
Net other comprehensive income (loss) during the period | (38 | ) | 8,921 | (8,701 | ) | 182 | |||||||||||
Balance at December 31, 2011 | (2 | ) | 7,250 | 39,649 | 46,897 | ||||||||||||
Other comprehensive income (loss) before reclassifications | (7 | ) | 753 | 4,518 | 5,264 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (5,498 | ) | — | (5,498 | ) | |||||||||||
Net other comprehensive income (loss) during the period | (7 | ) | (4,745 | ) | 4,518 | (234 | ) | ||||||||||
Balance at December 31, 2012 | (9 | ) | 2,505 | 44,167 | 46,663 | ||||||||||||
Other comprehensive income (loss) before reclassifications | 3 | 2,779 | (10,045 | ) | (7,263 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (4,040 | ) | — | (4,040 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 3 | (1,261 | ) | (10,045 | ) | (11,303 | ) | ||||||||||
Balance at December 31, 2013 | $ | (6 | ) | $ | 1,244 | $ | 34,122 | $ | 35,360 | ||||||||
All reclassification adjustments related to derivative transactions are recorded in cost of sales on the Consolidated Statements of Operations. See Note 20 for further information regarding derivative instrument reclassification adjustments. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
SEGMENT INFORMATION | |||||||||||||
The Company operates in four geographic segments: (1) the 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, income before income taxes, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2013, 2012 and 2011 and for identifiable assets at December 31, 2013 and 2012. Intersegment net sales, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales to unrelated entities: | |||||||||||||
United States | $ | 971,321 | $ | 946,710 | $ | 947,970 | |||||||
LAAP | 354,345 | 377,545 | 340,977 | ||||||||||
EMEA | 240,702 | 230,624 | 275,416 | ||||||||||
Canada | 118,628 | 114,684 | 129,622 | ||||||||||
$ | 1,684,996 | $ | 1,669,563 | $ | 1,693,985 | ||||||||
Segment income (loss) from operations: | |||||||||||||
United States | $ | 83,663 | $ | 68,504 | $ | 63,847 | |||||||
LAAP | 41,896 | 51,219 | 46,214 | ||||||||||
EMEA | (975 | ) | 7,993 | 13,779 | |||||||||
Canada | 7,210 | 5,812 | 12,566 | ||||||||||
Total income from operations | 131,794 | 133,528 | 136,406 | ||||||||||
Interest | 503 | 379 | 1,274 | ||||||||||
Other non-operating expense | (871 | ) | — | — | |||||||||
Income before income tax | $ | 131,426 | $ | 133,907 | $ | 137,680 | |||||||
Interest income (expense), net: | |||||||||||||
United States | $ | 4,501 | $ | 5,121 | $ | 4,565 | |||||||
LAAP | (162 | ) | (1,097 | ) | (666 | ) | |||||||
EMEA | (556 | ) | 293 | 648 | |||||||||
Canada | (3,280 | ) | (3,938 | ) | (3,273 | ) | |||||||
$ | 503 | $ | 379 | $ | 1,274 | ||||||||
Income tax (expense) benefit: | |||||||||||||
United States | $ | (28,629 | ) | $ | (21,961 | ) | $ | (19,233 | ) | ||||
LAAP | (11,135 | ) | (13,792 | ) | (12,163 | ) | |||||||
EMEA | 2,959 | 1,527 | (80 | ) | |||||||||
Canada | (1,018 | ) | 178 | (2,725 | ) | ||||||||
$ | (37,823 | ) | $ | (34,048 | ) | $ | (34,201 | ) | |||||
Depreciation and amortization expense: | |||||||||||||
United States | $ | 29,922 | $ | 31,025 | $ | 33,100 | |||||||
LAAP | 4,061 | 4,214 | 3,241 | ||||||||||
EMEA | 4,032 | 4,112 | 6,292 | ||||||||||
Canada | 2,856 | 1,541 | 927 | ||||||||||
$ | 40,871 | $ | 40,892 | $ | 43,560 | ||||||||
Assets: | |||||||||||||
United States | $ | 1,156,323 | $ | 1,031,838 | |||||||||
LAAP | 287,754 | 229,139 | |||||||||||
EMEA | 317,717 | 293,878 | |||||||||||
Canada | 179,047 | 177,912 | |||||||||||
Total identifiable assets | 1,940,841 | 1,732,767 | |||||||||||
Eliminations and reclassifications | (335,253 | ) | (273,925 | ) | |||||||||
$ | 1,605,588 | $ | 1,458,842 | ||||||||||
Net sales by product category: | |||||||||||||
Apparel, accessories and equipment | $ | 1,374,598 | $ | 1,347,005 | $ | 1,334,883 | |||||||
Footwear | 310,398 | 322,558 | 359,102 | ||||||||||
$ | 1,684,996 | $ | 1,669,563 | $ | 1,693,985 | ||||||||
Financial_Instruments_and_Risk
Financial Instruments and Risk Management | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [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 years ended December 31, 2013, 2012 and 2011. | |||||||||||||||
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): | |||||||||||||||
December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Currency forward contracts | $ | 99,000 | $ | 70,000 | |||||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Currency forward contracts | 109,000 | 121,934 | |||||||||||||
At December 31, 2013, approximately $2,032,000 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 December 31, 2013, the Company’s derivative contracts had remaining maturities of approximately two years or less. The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was less than $2,000,000 at December 31, 2013. All of the Company’s derivative counterparties have investment grade credit ratings and, as a result, the Company does not require collateral to facilitate transactions. 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): | |||||||||||||||
December 31, | |||||||||||||||
Balance Sheet Classification | 2013 | 2012 | |||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 1,936 | $ | 2,147 | ||||||||||
Currency forward contracts | Other non-current assets | 24 | 489 | ||||||||||||
Derivative instruments in liability positions: | |||||||||||||||
Currency forward contracts | Accrued liabilities | 872 | 579 | ||||||||||||
Currency forward contracts | Other long-term liabilities | 95 | — | ||||||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 2,956 | 4,072 | ||||||||||||
Derivative instruments in liability positions: | |||||||||||||||
Currency forward contracts | Accrued liabilities | 280 | 743 | ||||||||||||
The following table presents the effect and classification of derivative instruments for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||
For the Year Ended | |||||||||||||||
December 31, | |||||||||||||||
Statement Of Operations Classification | 2013 | 2012 | 2011 | ||||||||||||
Currency Forward Contracts: | |||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Gain recognized in other comprehensive income, net of tax | — | $ | 2,779 | $ | 753 | $ | 3,489 | ||||||||
Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion | Cost of sales | 5,721 | 5,908 | (6,862 | ) | ||||||||||
Gain reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance | Cost of sales | — | 441 | — | |||||||||||
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | (71 | ) | (40 | ) | (1,889 | ) | ||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Gain recognized in income | Other non-operating expense | 8,824 | — | — | |||||||||||
Gain (loss) recognized in income | Selling, general and administrative expense | — | (1,841 | ) | 1,216 | ||||||||||
Fair_Value_Measures
Fair Value Measures | 12 Months Ended | ||||||||||||||||
Dec. 31, 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 as of December 31, 2013 are as follows (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | |||||||||||||||||
Money market funds | $ | 175,624 | $ | — | $ | — | $ | 175,624 | |||||||||
Time deposits | 25,111 | 9,526 | — | 34,637 | |||||||||||||
Certificates of deposit | — | 735 | — | 735 | |||||||||||||
Reverse repurchase agreements | — | 45,000 | — | 45,000 | |||||||||||||
U.S. Government-backed municipal bonds | — | 9,898 | — | 9,898 | |||||||||||||
Available-for-sale short-term investments | |||||||||||||||||
Short-term municipal bond fund | 15,004 | — | — | 15,004 | |||||||||||||
Certificates of deposit | — | 9,546 | — | 9,546 | |||||||||||||
Variable-rate demand notes | — | 52,105 | — | 52,105 | |||||||||||||
U.S. Government-backed municipal bonds | — | 14,764 | — | 14,764 | |||||||||||||
Other short-term investments | |||||||||||||||||
Mutual fund shares | 336 | — | — | 336 | |||||||||||||
Other current assets | |||||||||||||||||
Derivative financial instruments (Note 20) | — | 4,892 | — | 4,892 | |||||||||||||
Non-current assets | |||||||||||||||||
Derivative financial instruments (Note 20) | — | 24 | — | 24 | |||||||||||||
Mutual fund shares | 4,855 | — | — | 4,855 | |||||||||||||
Total assets measured at fair value | $ | 220,930 | $ | 146,490 | $ | — | $ | 367,420 | |||||||||
Liabilities: | |||||||||||||||||
Accrued liabilities | |||||||||||||||||
Derivative financial instruments (Note 20) | $ | — | $ | 1,152 | $ | — | $ | 1,152 | |||||||||
Other long-term liabilities | |||||||||||||||||
Derivative financial instruments (Note 20) | — | 95 | — | 95 | |||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,247 | $ | — | $ | 1,247 | |||||||||
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 | |||||||||||||||||
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 20) | — | 6,219 | — | 6,219 | |||||||||||||
Non-current assets | |||||||||||||||||
Derivative financial instruments (Note 20) | — | 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 20) | $ | — | $ | 1,322 | $ | — | $ | 1,322 | |||||||||
Total liabilities measured at fair value | $ | — | $ | 1,322 | $ | — | $ | 1,322 | |||||||||
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. | |||||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||
During the fourth quarter of 2013, the Company recorded an impairment in its EMEA segment of $8,995,000 for its European distribution center in Cambrai, France, writing the assets down to their estimated fair value of $19,300,000. This impairment charge is included in selling, general and administrative expense on the Consolidated Statement of Operations. The Company determined that events and circumstances, including the ongoing weak macro-economic environment in Europe and history of declining sales and profitability in the EMEA direct business, indicated that the carrying value may be impaired. Significant factors and estimates used in the evaluation and fair value determination include management's plans for future operations, recent operating results, projected cash flows and third-party valuation estimates. This nonrecurring fair value measurement was developed using significant unobservable inputs (Level 3). Third-party valuation estimates were developed using local market data for sales transactions of similar facilities. | |||||||||||||||||
There were no material assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2012. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||||
Valuation and Qualifying Accounts | ' | |||||||||||||||||||||
Schedule II | ||||||||||||||||||||||
Valuation and Qualifying Accounts | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||
Description | Balance at Beginning | Charged to | Deductions | Other | Balance at | |||||||||||||||||
of Period | Costs and | (a) | (b) | End of | ||||||||||||||||||
Expenses | Period | |||||||||||||||||||||
Year Ended December 31, 2013: | ||||||||||||||||||||||
Allowance for doubtful accounts | $ | 7,377 | $ | 2,609 | $ | (1,687 | ) | $ | (17 | ) | $ | 8,282 | ||||||||||
Allowance for sales returns and miscellaneous claims | 32,547 | 42,327 | (48,473 | ) | (1,276 | ) | 25,125 | |||||||||||||||
Year Ended December 31, 2012: | ||||||||||||||||||||||
Allowance for doubtful accounts | $ | 7,545 | $ | 981 | $ | (1,173 | ) | $ | 24 | $ | 7,377 | |||||||||||
Allowance for sales returns and miscellaneous claims | 28,201 | 63,453 | (58,353 | ) | (754 | ) | 32,547 | |||||||||||||||
Year Ended December 31, 2011: | ||||||||||||||||||||||
Allowance for doubtful accounts | $ | 7,098 | $ | 1,045 | $ | (547 | ) | $ | (51 | ) | $ | 7,545 | ||||||||||
Allowance for sales returns and miscellaneous claims | 17,236 | 51,597 | (40,651 | ) | 19 | 28,201 | ||||||||||||||||
————— | ||||||||||||||||||||||
(a) | Charges to the accounts included in this column are for the purposes for which the reserves were created. | |||||||||||||||||||||
(b) | Amounts included in this column primarily relate to foreign currency translation. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of the Business | ' |
Nature of the business: | |
Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel, footwear, accessories and equipment. | |
Principles of Consolidation | ' |
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 (the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. | |
Estimates and Assumptions | ' |
Estimates and assumptions: | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. | |
Changes Affecting Comparability | ' |
Changes affecting comparability: | |
In 2013, amounts relating to foreign currency gains and losses are now reported as other non-operating expense on the Consolidated Statements of Operations. Prior year amounts are immaterial and are presented in selling, general and administrative ("SG&A") expenses. | |
Cash and Cash Equivalents | ' |
Cash and cash equivalents: | |
Cash and cash equivalents are stated at fair value or at cost, which approximates fair value, and include investments with original maturities of 90 days or less at the date of acquisition. At December 31, 2013 and 2012, cash and cash equivalents consisted of cash, money market funds, time deposits, certificates of deposit, repurchase agreements and municipal bonds with original maturities ranging from overnight to less than 90 days. | |
Investments | ' |
Investments: | |
At December 31, 2013, short-term investments consisted of certificates of deposit and municipal bonds with original maturities greater than 90 days, variable-rate demand notes that have features which enable the Company to sell back the bonds at par value within 7 days and shares in a short-term bond fund. At December 31, 2012, short-term investments consisted of certificates of deposit and municipal bonds with original maturities greater than 90 days and variable-rate demand notes that have features which enable the Company to sell back the bonds at par value within 7 days. These investments are considered available for use in current operations. The majority of short-term investments are classified as available-for-sale securities and are recorded at fair value with any unrealized gains and losses reported, net of tax, in other comprehensive income. The remainder of short-term investments consists of investments held as part of the Company's deferred compensation plan. These investments are classified as trading securities and are recorded at fair value with any unrealized gain and losses reported in net income. Realized gains or losses are determined based on the specific identification method. | |
At December 31, 2013 and 2012, long-term investments included in other non-current assets consisted of mutual fund shares held to offset liabilities to participants in the Company’s deferred compensation plan. The investments are classified as long-term because the related deferred compensation liabilities are not expected to be paid within the next year. These investments are classified as trading securities and are recorded at fair value with unrealized gains and losses reported in operating expenses, which are offset against gains and losses resulting from changes in corresponding deferred compensation liabilities to participants. | |
Accounts Receivable | ' |
Accounts receivable: | |
Accounts receivable have been reduced by an allowance for doubtful accounts. The Company makes ongoing estimates of the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. | |
Inventories | ' |
Inventories: | |
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 inventories for excess, close-out or slow moving items and makes provisions as necessary to properly reflect inventory value. | |
Property, Plant and Equipment | ' |
Property, plant, and equipment: | |
Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The principal estimated useful lives are: land improvements, 15 years; buildings and building improvements, 15-30 years; furniture and fixtures, 3-10 years; and machinery and equipment, 3-10 years. Leasehold improvements are depreciated over the lesser of the estimated useful life of the improvement, which is most commonly 7 years, or the remaining term of the underlying lease. | |
Improvements to property, plant and equipment that substantially extend the useful life of the asset are capitalized. Repair and maintenance costs are expensed as incurred. Internal and external costs directly related to the development of internal-use software during the application development stage, including costs incurred for third party contractors and employee compensation, are capitalized and depreciated over a 3-10 year estimated useful life. | |
Impairment of Long-Lived Assets | ' |
Impairment of long-lived assets: | |
Long-lived assets are amortized over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. In these cases, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges for long-lived assets are included in SG&A expense and were $8,995,000, $1,653,000 and $6,211,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Intangible Assets and Goodwill | ' |
Intangible assets and goodwill: | |
Intangible assets with indefinite useful lives and goodwill are not amortized but are periodically evaluated for impairment. Intangible assets that are determined to have finite lives are amortized using the straight-line method over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. | |
Impairment of Goodwill and Intangible Assets | ' |
Impairment of intangible assets and goodwill: | |
The Company reviews and tests its intangible assets with indefinite useful lives and goodwill for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company’s intangible assets with indefinite lives consist of trademarks and trade names. Substantially all of the Company’s goodwill is recorded in the United States segment and impairment testing for goodwill is performed at the reporting unit level. In the impairment test for goodwill, the two-step process first compares the estimated fair value of the reporting unit with the carrying amount of that reporting unit. The Company estimates the fair value of its reporting units using a combination of discounted cash flow analysis, comparisons with the market values of similar publicly traded companies and other operating performance based valuation methods, as necessary. If step one indicates impairment, step two compares the estimated fair value of the reporting unit to the estimated fair value of all reporting unit assets and liabilities, except goodwill, to determine the implied fair value of goodwill. The Company calculates impairment as the excess of carrying amount of goodwill over the implied fair value of goodwill. In the impairment tests for trademarks and trade names, the Company compares the estimated fair value of each asset to its carrying amount. The fair values of trademarks and trade names are generally estimated using a relief from royalty method under the income approach. If the carrying amount of a trademark or trade name exceeds its estimated fair value, the Company calculates impairment as the excess of carrying amount over the estimate of fair value. | |
If events or circumstances indicate the carrying value of intangible assets with finite lives may be impaired, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. | |
Impairment charges are classified as a component of SG&A expense. The impairment tests and related fair value estimates are based on a number of factors, including assumptions and estimates for projected sales, income, cash flows, discount rates, remaining useful lives and other operating performance measures. Changes in estimates or the application of alternative assumptions could produce significantly different results. These assumptions and estimates may change in the future due to changes in economic conditions, changes in the Company’s ability to meet sales and profitability objectives or changes in the Company’s business operations or strategic direction. | |
Income Taxes | ' |
Income taxes: | |
Income taxes are provided on financial statement earnings for financial reporting purposes. Income taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pre-tax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries, where such earnings are considered to be indefinitely invested, or to the extent such recognition would result in a deferred tax asset. | |
Accrued income taxes in the Consolidated Balance Sheets include unrecognized income tax benefits relating to uncertain tax positions, including related interest and penalties, appropriately classified as current or noncurrent. The Company recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. In making this determination, the Company assumes that the taxing authority will examine the position and that it will have full knowledge of all relevant information. The provision for income taxes also includes estimates of interest and penalties related to uncertain tax positions. | |
Derivatives | ' |
Derivatives: | |
The effective portion of changes in fair values of outstanding cash flow hedges is recorded in other comprehensive income until earnings are affected by the hedged transaction, and any ineffective portion is included in current income. In most cases amounts recorded in other comprehensive income will be released to earnings some time after maturity of the related derivative. The Consolidated Statements of Operations classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of product costs are recorded in cost of sales when the underlying hedged transaction affects earnings. Unrealized derivative gains and losses, which are recorded in assets and liabilities, respectively, are non-cash items and therefore are taken into account in the preparation of the Consolidated Statements of Cash Flows based on their respective balance sheet classifications. See Note 20 for more information on derivatives and risk management. | |
Foreign Currency Translation | ' |
Foreign currency translation: | |
The assets and liabilities of the Company’s foreign subsidiaries have been translated into U.S. dollars using the exchange rates in effect at period end, and the net sales and expenses have been translated into U.S. dollars using average exchange rates in effect during the period. The foreign currency translation adjustments are included as a separate component of accumulated other comprehensive income in shareholders’ equity and are not currently adjusted for income taxes when they relate to indefinite net investments in non-U.S. operations. | |
Revenue Recognition | ' |
Revenue recognition: | |
The Company records wholesale, distributor, e-commerce and licensed product revenues when title passes and the risks and rewards of ownership have passed to the customer. Title generally passes upon shipment to, or upon receipt by, the customer depending on the terms of sale with the customer. Retail store revenues are recorded at the time of sale. | |
Where title passes upon receipt by the customer, predominantly in the Company’s European wholesale business, precise information regarding the date of receipt by the customer is not readily available. In these cases, the Company estimates the date of receipt by the customer based on historical and expected delivery times by geographic location. The Company periodically tests the accuracy of these estimates based on actual transactions. Delivery times vary by geographic location, generally from one to five days. To date, the Company has found these estimates to be materially accurate. | |
At the time of revenue recognition, the Company also provides for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims as well as events and circumstances that indicate changes to historical rates of returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from the estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that have been established, the Company would record a reduction or increase to net revenues in the period in which it made such determination. | |
Cost of Sales | ' |
Cost of sales: | |
The expenses that are included in cost of sales include all direct product and conversion-related costs, and costs related to shipping, duties and importation. Specific provisions for excess, close-out or slow moving inventory are also included in cost of sales. In addition, 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. | |
Selling, General and Administrative Expense | ' |
Selling, general and administrative expense: | |
SG&A expense consists of personnel-related costs, advertising, depreciation and other selling and general operating expenses related to the Company’s business functions, including planning, receiving finished goods, warehousing, distribution, retail operations and information technology. | |
Shipping and Handling Costs | ' |
Shipping and handling costs: | |
Shipping and handling fees billed to customers and consumers are recorded as revenue. The direct costs associated with shipping goods to customers and consumers are recorded as cost of sales. Inventory planning, receiving and handling costs are recorded as a component of SG&A expenses and were $56,891,000, $59,212,000 and $65,290,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Stock-Based Compensation | ' |
Stock-based compensation: | |
Stock-based compensation cost is estimated at the grant date based on the award’s fair value and is recognized as expense over the requisite service period using the straight-line attribution method. The Company estimates stock-based compensation for stock options granted using the Black-Scholes option pricing model, which requires various highly subjective assumptions, including volatility and expected option life. Further, the Company estimates forfeitures for stock-based awards granted which are not expected to vest. For restricted stock unit awards subject to performance conditions, the amount of compensation expense recorded in a given period reflects the Company's assessment of the probability of achieving its performance targets. If any of these inputs or assumptions changes significantly, stock-based compensation expense may differ materially in the future from that recorded in the current period. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company’s experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. | |
Advertising Costs | ' |
Advertising costs: | |
Advertising costs are expensed in the period incurred and are included in SG&A expenses. Total advertising expense, including cooperative advertising costs, was $78,095,000, $76,714,000 and $85,003,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Through cooperative advertising programs, the Company reimburses its wholesale customers for some of their costs of advertising the Company’s products based on various criteria, including the value of purchases from the Company and various advertising specifications. Cooperative advertising costs are included in expenses because the Company receives an identifiable benefit in exchange for the cost, the advertising may be obtained from a party other than the customer, and the fair value of the advertising benefit can be reasonably estimated. Cooperative advertising costs were $6,032,000, $7,851,000 and $8,554,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Recent Accounting Pronouncements | ' |
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 adoption of this standard did not 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 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. |
Accounts_Receivable_Net_Accoun
Accounts Receivable, Net Accounts Receivable, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Components of Accounts Receivable, Net | ' | ||||||||
Accounts receivable, net, is as follows (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Trade accounts receivable | $ | 315,160 | $ | 341,701 | |||||
Allowance for doubtful accounts | (8,282 | ) | (7,377 | ) | |||||
Accounts receivable, net | $ | 306,878 | $ | 334,324 | |||||
Inventories_Net_Inventories_Ne
Inventories, Net Inventories, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventories, Net | ' | ||||||||
Inventories, net, consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 1,130 | $ | 1,633 | |||||
Work in process | 1,203 | 1,969 | |||||||
Finished goods | 326,895 | 359,723 | |||||||
$ | 329,228 | $ | 363,325 | ||||||
Property_Plant_and_Equipment_N1
Property, Plant, and Equipment, Net Properly, Plant, and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of Property, Plant and Equipment, Net | ' | ||||||||
Property, plant, and equipment consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land and improvements | $ | 21,321 | $ | 20,036 | |||||
Buildings and improvements | 165,582 | 166,365 | |||||||
Machinery and equipment | 212,097 | 206,805 | |||||||
Furniture and fixtures | 65,540 | 54,914 | |||||||
Leasehold improvements | 78,631 | 72,426 | |||||||
Construction in progress | 62,582 | 43,021 | |||||||
605,753 | 563,567 | ||||||||
Less accumulated depreciation | (326,380 | ) | (303,043 | ) | |||||
$ | 279,373 | $ | 260,524 | ||||||
Intangible_Assets_Net_and_Good1
Intangible Assets, Net and Goodwill Intangible Assets, Net and Goodwill (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||
Schedule Of Identifiable Intangible Assets | ' | ||||||||
Identifiable intangible assets consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Intangible assets subject to amortization: | |||||||||
Gross carrying amount | $ | 14,198 | $ | 14,198 | |||||
Accumulated amortization | (5,331 | ) | (4,001 | ) | |||||
Net carrying amount | 8,867 | 10,197 | |||||||
Intangible assets not subject to amortization | 27,421 | 27,421 | |||||||
Intangible assets, net | $ | 36,288 | $ | 37,618 | |||||
Accrued_Liabilities_Accrued_Li
Accrued Liabilities Accrued Liabilities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accrued Liabilities, Current [Abstract] | ' | ||||||||||||
Schedule of Accrued Liabilities | ' | ||||||||||||
Accrued liabilities consisted of the following (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Accrued salaries, bonus, vacation and other benefits | $ | 68,046 | $ | 55,728 | |||||||||
Accrued import duties | 10,594 | 15,023 | |||||||||||
Product warranties | 10,768 | 10,209 | |||||||||||
Other | 30,989 | 24,230 | |||||||||||
$ | 120,397 | $ | 105,190 | ||||||||||
Reconciliation of Product Warranties | ' | ||||||||||||
A reconciliation of product warranties is as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 10,209 | $ | 10,452 | $ | 10,256 | |||||||
Provision for warranty claims | 5,644 | 4,905 | 4,758 | ||||||||||
Warranty claims | (5,054 | ) | (5,272 | ) | (4,468 | ) | |||||||
Other | (31 | ) | 124 | (94 | ) | ||||||||
Balance at end of period | $ | 10,768 | $ | 10,209 | $ | 10,452 | |||||||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Consolidated Income from Continuing Operations Before Income Taxes | ' | ||||||||||||
Consolidated income from continuing operations before income taxes consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | 88,561 | $ | 73,625 | $ | 68,412 | |||||||
Foreign operations | 42,865 | 60,282 | 69,268 | ||||||||||
Income before income tax | $ | 131,426 | $ | 133,907 | $ | 137,680 | |||||||
Components of Provision (Benefit) for Income Taxes | ' | ||||||||||||
The components of the provision (benefit) for income taxes consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 14,953 | $ | 14,365 | $ | 16,384 | |||||||
State and local | 1,999 | 876 | 1,995 | ||||||||||
Non-U.S. | 14,178 | 12,448 | 19,508 | ||||||||||
31,130 | 27,689 | 37,887 | |||||||||||
Deferred: | |||||||||||||
Federal | 11,363 | 5,806 | 407 | ||||||||||
State and local | (120 | ) | 690 | 229 | |||||||||
Non-U.S. | (4,550 | ) | (137 | ) | (4,322 | ) | |||||||
6,693 | 6,359 | (3,686 | ) | ||||||||||
Income tax expense | $ | 37,823 | $ | 34,048 | $ | 34,201 | |||||||
Reconciliation of Statutory Federal Income Tax Rate to Effective Rate | ' | ||||||||||||
The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(percent of income) | |||||||||||||
Provision for federal income taxes at the statutory rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal benefit | 1.5 | 1.7 | 1.5 | ||||||||||
Non-U.S. income taxed at different rates | (3.7 | ) | (5.4 | ) | (6.5 | ) | |||||||
Foreign tax credits | (0.5 | ) | — | (1.8 | ) | ||||||||
Reduction of unrecognized tax benefits | (1.9 | ) | (4.3 | ) | (3.5 | ) | |||||||
Research credits | (2.1 | ) | (1.7 | ) | (0.6 | ) | |||||||
Other | 0.5 | 0.1 | 0.7 | ||||||||||
Actual provision for income taxes | 28.8 | % | 25.4 | % | 24.8 | % | |||||||
Significant Components of Deferred Taxes | ' | ||||||||||||
Significant components of the Company’s deferred taxes consisted of the following (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Non-deductible accruals and allowances | $ | 37,986 | $ | 31,139 | |||||||||
Capitalized inventory costs | 22,589 | 25,294 | |||||||||||
Stock compensation | 6,329 | 6,633 | |||||||||||
Net operating loss carryforwards | 9,683 | 6,198 | |||||||||||
Depreciation and amortization | 2,413 | 1,568 | |||||||||||
Tax credits | 198 | 10,398 | |||||||||||
Other | 1,055 | 755 | |||||||||||
Gross deferred tax assets | 80,253 | 81,985 | |||||||||||
Valuation allowance | (8,633 | ) | (6,935 | ) | |||||||||
Net deferred tax assets | 71,620 | 75,050 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | (20,243 | ) | (16,802 | ) | |||||||||
Foreign currency loss | (2,540 | ) | (2,313 | ) | |||||||||
Other | (810 | ) | (587 | ) | |||||||||
Gross deferred tax liabilities | (23,593 | ) | (19,702 | ) | |||||||||
Total net deferred taxes | $ | 48,027 | $ | 55,348 | |||||||||
Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 12,431 | $ | 14,316 | $ | 18,694 | |||||||
Increases related to prior year tax positions | 252 | 3,208 | 43 | ||||||||||
Decreases related to prior year tax positions | (332 | ) | (19 | ) | (141 | ) | |||||||
Increases related to current year tax positions | 4,281 | 2,049 | 1,388 | ||||||||||
Settlements | (84 | ) | (1,817 | ) | (649 | ) | |||||||
Expiration of statute of limitations | (1,909 | ) | (5,306 | ) | (5,019 | ) | |||||||
Balance at end of period | $ | 14,639 | $ | 12,431 | $ | 14,316 | |||||||
Other_LongTerm_Liabilities_Oth
Other Long-Term Liabilities Other Long-Term Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||
Schedule Of Other Long Term Liabilities | ' | ||||||||
Other long-term liabilities consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Straight-line and deferred rent liabilities | $ | 22,525 | $ | 20,395 | |||||
Asset retirement obligations | 2,052 | 1,849 | |||||||
Deferred compensation plan liability (Note 13) | 4,855 | 4,080 | |||||||
Other | 95 | 847 | |||||||
$ | 29,527 | $ | 27,171 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Schedule of Rent Expense | ' | ||||||||||||
Rent expense, including percentage rent but excluding operating costs for which the Company is obligated, consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rent expense included in SG&A expense | $ | 53,972 | $ | 51,853 | $ | 46,869 | |||||||
Rent expense included in cost of sales | 1,592 | 1,528 | 1,429 | ||||||||||
$ | 55,564 | $ | 53,381 | $ | 48,298 | ||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||||||||||
2014 | $ | 44,689 | |||||||||||
2015 | 40,298 | ||||||||||||
2016 | 37,301 | ||||||||||||
2017 | 33,962 | ||||||||||||
2018 | 30,511 | ||||||||||||
Thereafter | 88,926 | ||||||||||||
$ | 275,687 | ||||||||||||
StockBased_Compensation_StockB
Stock-Based Compensation Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Schedule of Stock-Based Compensation Expense | ' | |||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Cost of sales | $ | 347 | $ | 287 | $ | 282 | ||||||||
SG&A expense | 8,531 | 7,546 | 7,588 | |||||||||||
Pre-tax stock-based compensation expense | 8,878 | 7,833 | 7,870 | |||||||||||
Income tax benefits | (3,102 | ) | (2,724 | ) | (2,729 | ) | ||||||||
Total stock-based compensation expense, net of tax | $ | 5,776 | $ | 5,109 | $ | 5,141 | ||||||||
Schedule of Weighted Average Assumptions | ' | |||||||||||||
The following table presents the weighted average assumptions for the years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 (1) | ||||||||||||
Expected term | 4.70 years | 4.78 years | 5.12 years | |||||||||||
Expected stock price volatility | 30.53% | 32.20% | 30.76% | |||||||||||
Risk-free interest rate | 0.71% | 0.88% | 1.84% | |||||||||||
Expected dividend yield | 1.62% | 1.80% | 1.31% | |||||||||||
Weighted average grant date fair value | $12.36 | $11.57 | $16.09 | |||||||||||
————— | ||||||||||||||
-1 | During the year ended December 31, 2011, the Company granted two stock option awards totaling 53,720 shares that vest 100% on the fifth anniversary of the grant date. Because the Company did not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. | |||||||||||||
Summary of Stock Option Activity | ' | |||||||||||||
The following table summarizes stock option activity under the Plan: | ||||||||||||||
Number of | Weighted | Weighted Average Remaining Contractual Life | Aggregate Intrinsic Value (in thousands) | |||||||||||
Shares | Average | |||||||||||||
Exercise | ||||||||||||||
Price | ||||||||||||||
Options outstanding at January 1, 2011 | 1,872,214 | $ | 42.84 | 6.33 | $ | 33,057 | ||||||||
Granted | 340,973 | 61.38 | ||||||||||||
Cancelled | (40,396 | ) | 43.68 | |||||||||||
Exercised | (253,695 | ) | 43.32 | |||||||||||
Options outstanding at December 31, 2011 | 1,919,096 | 46.05 | 6.25 | 9,141 | ||||||||||
Granted | 358,169 | 48.82 | ||||||||||||
Cancelled | (172,465 | ) | 52.9 | |||||||||||
Exercised | (380,811 | ) | 38.34 | |||||||||||
Options outstanding at December 31, 2012 | 1,723,989 | 47.64 | 6.15 | 13,001 | ||||||||||
Granted | 354,110 | 54.66 | ||||||||||||
Cancelled | (59,549 | ) | 53.33 | |||||||||||
Exercised | (444,418 | ) | 43.96 | |||||||||||
Options outstanding at December 31, 2013 | 1,574,132 | $ | 50.04 | 6.36 | $ | 45,187 | ||||||||
Options vested and expected to vest at December 31, 2013 | 1,520,425 | $ | 49.9 | 6.28 | $ | 43,859 | ||||||||
Options exercisable at December 31, 2013 | 821,859 | $ | 47.15 | 4.66 | $ | 25,969 | ||||||||
Schedule Of Weighted Average Assumptions for Restricted Stock Units | ' | |||||||||||||
The following table presents the weighted average assumptions for the years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Vesting period | 3.84 years | 3.86 years | 3.96 years | |||||||||||
Expected dividend yield | 1.58% | 1.77% | 1.33% | |||||||||||
Estimated average fair value per restricted stock unit granted | $53.34 | $46.57 | $58.37 | |||||||||||
Summary of Restricted Stock Unit Activity | ' | |||||||||||||
The following table summarizes the restricted stock unit activity under the Plan: | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Shares | Grant Date Fair Value Per Share | |||||||||||||
Restricted stock units outstanding at January 1, 2011 | 328,795 | $ | 37.63 | |||||||||||
Granted | 145,768 | 58.37 | ||||||||||||
Vested | (146,951 | ) | 38.01 | |||||||||||
Forfeited | (30,860 | ) | 41.79 | |||||||||||
Restricted stock units outstanding at December 31, 2011 | 296,752 | 47.19 | ||||||||||||
Granted | 185,303 | 46.57 | ||||||||||||
Vested | (91,383 | ) | 42.39 | |||||||||||
Forfeited | (70,114 | ) | 46.26 | |||||||||||
Restricted stock units outstanding at December 31, 2012 | 320,558 | 48.31 | ||||||||||||
Granted | 161,237 | 53.34 | ||||||||||||
Vested | (116,357 | ) | 46.08 | |||||||||||
Forfeited | (28,191 | ) | 49.9 | |||||||||||
Restricted stock units outstanding at December 31, 2013 | 337,247 | $ | 51.33 | |||||||||||
Earnings_per_Share_Earnings_pe
Earnings per Share Earnings per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||||||||||
A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted average common shares outstanding, used in computing basic earnings per share | 34,378 | 33,840 | 33,808 | ||||||||||
Effect of dilutive stock options and restricted stock units | 339 | 292 | 396 | ||||||||||
Weighted-average common shares outstanding, used in computing diluted earnings per share | 34,717 | 34,132 | 34,204 | ||||||||||
Earnings per share of common stock attributable to Columbia Sportswear Company: | |||||||||||||
Basic | $ | 2.74 | $ | 2.95 | $ | 3.06 | |||||||
Diluted | 2.72 | 2.93 | 3.03 | ||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 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 related tax effects, for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available for sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at January 1, 2011 | $ | 36 | $ | (1,671 | ) | $ | 48,350 | $ | 46,715 | ||||||||
Other comprehensive income (loss) before reclassifications | (38 | ) | 3,489 | (8,701 | ) | (5,250 | ) | ||||||||||
Amounts reclassified from other comprehensive income | — | 5,432 | — | 5,432 | |||||||||||||
Net other comprehensive income (loss) during the period | (38 | ) | 8,921 | (8,701 | ) | 182 | |||||||||||
Balance at December 31, 2011 | (2 | ) | 7,250 | 39,649 | 46,897 | ||||||||||||
Other comprehensive income (loss) before reclassifications | (7 | ) | 753 | 4,518 | 5,264 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (5,498 | ) | — | (5,498 | ) | |||||||||||
Net other comprehensive income (loss) during the period | (7 | ) | (4,745 | ) | 4,518 | (234 | ) | ||||||||||
Balance at December 31, 2012 | (9 | ) | 2,505 | 44,167 | 46,663 | ||||||||||||
Other comprehensive income (loss) before reclassifications | 3 | 2,779 | (10,045 | ) | (7,263 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (4,040 | ) | — | (4,040 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 3 | (1,261 | ) | (10,045 | ) | (11,303 | ) | ||||||||||
Balance at December 31, 2013 | $ | (6 | ) | $ | 1,244 | $ | 34,122 | $ | 35,360 | ||||||||
Segment_Information_Segment_In
Segment Information Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule of Segment Information | ' | ||||||||||||
The geographic distribution of the Company’s net sales, income before income taxes, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2013, 2012 and 2011 and for identifiable assets at December 31, 2013 and 2012. Intersegment net sales, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales to unrelated entities: | |||||||||||||
United States | $ | 971,321 | $ | 946,710 | $ | 947,970 | |||||||
LAAP | 354,345 | 377,545 | 340,977 | ||||||||||
EMEA | 240,702 | 230,624 | 275,416 | ||||||||||
Canada | 118,628 | 114,684 | 129,622 | ||||||||||
$ | 1,684,996 | $ | 1,669,563 | $ | 1,693,985 | ||||||||
Segment income (loss) from operations: | |||||||||||||
United States | $ | 83,663 | $ | 68,504 | $ | 63,847 | |||||||
LAAP | 41,896 | 51,219 | 46,214 | ||||||||||
EMEA | (975 | ) | 7,993 | 13,779 | |||||||||
Canada | 7,210 | 5,812 | 12,566 | ||||||||||
Total income from operations | 131,794 | 133,528 | 136,406 | ||||||||||
Interest | 503 | 379 | 1,274 | ||||||||||
Other non-operating expense | (871 | ) | — | — | |||||||||
Income before income tax | $ | 131,426 | $ | 133,907 | $ | 137,680 | |||||||
Interest income (expense), net: | |||||||||||||
United States | $ | 4,501 | $ | 5,121 | $ | 4,565 | |||||||
LAAP | (162 | ) | (1,097 | ) | (666 | ) | |||||||
EMEA | (556 | ) | 293 | 648 | |||||||||
Canada | (3,280 | ) | (3,938 | ) | (3,273 | ) | |||||||
$ | 503 | $ | 379 | $ | 1,274 | ||||||||
Income tax (expense) benefit: | |||||||||||||
United States | $ | (28,629 | ) | $ | (21,961 | ) | $ | (19,233 | ) | ||||
LAAP | (11,135 | ) | (13,792 | ) | (12,163 | ) | |||||||
EMEA | 2,959 | 1,527 | (80 | ) | |||||||||
Canada | (1,018 | ) | 178 | (2,725 | ) | ||||||||
$ | (37,823 | ) | $ | (34,048 | ) | $ | (34,201 | ) | |||||
Depreciation and amortization expense: | |||||||||||||
United States | $ | 29,922 | $ | 31,025 | $ | 33,100 | |||||||
LAAP | 4,061 | 4,214 | 3,241 | ||||||||||
EMEA | 4,032 | 4,112 | 6,292 | ||||||||||
Canada | 2,856 | 1,541 | 927 | ||||||||||
$ | 40,871 | $ | 40,892 | $ | 43,560 | ||||||||
Assets: | |||||||||||||
United States | $ | 1,156,323 | $ | 1,031,838 | |||||||||
LAAP | 287,754 | 229,139 | |||||||||||
EMEA | 317,717 | 293,878 | |||||||||||
Canada | 179,047 | 177,912 | |||||||||||
Total identifiable assets | 1,940,841 | 1,732,767 | |||||||||||
Eliminations and reclassifications | (335,253 | ) | (273,925 | ) | |||||||||
$ | 1,605,588 | $ | 1,458,842 | ||||||||||
Net sales by product category: | |||||||||||||
Apparel, accessories and equipment | $ | 1,374,598 | $ | 1,347,005 | $ | 1,334,883 | |||||||
Footwear | 310,398 | 322,558 | 359,102 | ||||||||||
$ | 1,684,996 | $ | 1,669,563 | $ | 1,693,985 | ||||||||
Financial_Instruments_and_Risk1
Financial Instruments and Risk Management Financial Instruments and Risk Management (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||
Gross Notional Amount of Outstanding Derivatives | ' | ||||||||||||||
The following table presents the gross notional amount of outstanding derivative instruments (in thousands): | |||||||||||||||
December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Currency forward contracts | $ | 99,000 | $ | 70,000 | |||||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Currency forward contracts | 109,000 | 121,934 | |||||||||||||
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): | |||||||||||||||
December 31, | |||||||||||||||
Balance Sheet Classification | 2013 | 2012 | |||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 1,936 | $ | 2,147 | ||||||||||
Currency forward contracts | Other non-current assets | 24 | 489 | ||||||||||||
Derivative instruments in liability positions: | |||||||||||||||
Currency forward contracts | Accrued liabilities | 872 | 579 | ||||||||||||
Currency forward contracts | Other long-term liabilities | 95 | — | ||||||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 2,956 | 4,072 | ||||||||||||
Derivative instruments in liability positions: | |||||||||||||||
Currency forward contracts | Accrued liabilities | 280 | 743 | ||||||||||||
Effect and Classification of Derivative Instruments | ' | ||||||||||||||
The following table presents the effect and classification of derivative instruments for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||
For the Year Ended | |||||||||||||||
December 31, | |||||||||||||||
Statement Of Operations Classification | 2013 | 2012 | 2011 | ||||||||||||
Currency Forward Contracts: | |||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||
Gain recognized in other comprehensive income, net of tax | — | $ | 2,779 | $ | 753 | $ | 3,489 | ||||||||
Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion | Cost of sales | 5,721 | 5,908 | (6,862 | ) | ||||||||||
Gain reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance | Cost of sales | — | 441 | — | |||||||||||
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | (71 | ) | (40 | ) | (1,889 | ) | ||||||||
Derivative instruments not designated as hedges: | |||||||||||||||
Gain recognized in income | Other non-operating expense | 8,824 | — | — | |||||||||||
Gain (loss) recognized in income | Selling, general and administrative expense | — | (1,841 | ) | 1,216 | ||||||||||
Fair_Value_Measures_Fair_Value
Fair Value Measures Fair Value Measures (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
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 as of December 31, 2013 are as follows (in thousands): | 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 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||||||||||||
Cash equivalents | Cash equivalents | |||||||||||||||||||||||||||||||||
Money market funds | $ | 175,624 | $ | — | $ | — | $ | 175,624 | Money market funds | $ | 70,857 | $ | — | $ | — | $ | 70,857 | |||||||||||||||||
Time deposits | 25,111 | 9,526 | — | 34,637 | Time deposits | 25,035 | — | — | 25,035 | |||||||||||||||||||||||||
Certificates of deposit | — | 735 | — | 735 | Certificates of deposit | — | 2,450 | — | 2,450 | |||||||||||||||||||||||||
Reverse repurchase agreements | — | 45,000 | — | 45,000 | U.S. Government-backed repurchase agreements | — | 25,000 | — | 25,000 | |||||||||||||||||||||||||
U.S. Government-backed municipal bonds | — | 9,898 | — | 9,898 | U.S. Government-backed municipal bonds | — | 5,348 | — | 5,348 | |||||||||||||||||||||||||
Available-for-sale short-term investments | Available-for-sale short-term investments | |||||||||||||||||||||||||||||||||
Short-term municipal bond fund | 15,004 | — | — | 15,004 | Certificates of deposit | — | 7,596 | — | 7,596 | |||||||||||||||||||||||||
Certificates of deposit | — | 9,546 | — | 9,546 | Variable-rate demand notes | — | 22,640 | — | 22,640 | |||||||||||||||||||||||||
Variable-rate demand notes | — | 52,105 | — | 52,105 | U.S. Government-backed municipal bonds | — | 14,425 | — | 14,425 | |||||||||||||||||||||||||
U.S. Government-backed municipal bonds | — | 14,764 | — | 14,764 | Other current assets | |||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | — | 6,219 | — | 6,219 | ||||||||||||||||||||||||||||||
Other short-term investments | ||||||||||||||||||||||||||||||||||
Mutual fund shares | 336 | — | — | 336 | Non-current assets | |||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | — | 489 | — | 489 | ||||||||||||||||||||||||||||||
Other current assets | ||||||||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | — | 4,892 | — | 4,892 | Mutual fund shares | 4,080 | — | — | 4,080 | |||||||||||||||||||||||||
Non-current assets | Total assets measured at fair value | $ | 99,972 | $ | 84,167 | $ | — | $ | 184,139 | |||||||||||||||||||||||||
Derivative financial instruments (Note 20) | — | 24 | — | 24 | ||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||
Mutual fund shares | 4,855 | — | — | 4,855 | Accrued liabilities | |||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||||||||||||||||||||
Total assets measured at fair value | $ | 220,930 | $ | 146,490 | $ | — | $ | 367,420 | ||||||||||||||||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,322 | $ | — | $ | 1,322 | ||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||
Accrued liabilities | ||||||||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | $ | — | $ | 1,152 | $ | — | $ | 1,152 | ||||||||||||||||||||||||||
Other long-term liabilities | ||||||||||||||||||||||||||||||||||
Derivative financial instruments (Note 20) | — | 95 | — | 95 | ||||||||||||||||||||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,247 | $ | — | $ | 1,247 | ||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Impairment charge of long-lived assets | $8,995,000 | $1,653,000 | $6,211,000 |
Inventory planning, receiving and handling costs | 56,891,000 | 59,212,000 | 65,290,000 |
Advertising costs | 78,095,000 | 76,714,000 | 85,003,000 |
Cooperative Advertising Expense | $6,032,000 | $7,851,000 | $8,554,000 |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '15 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '30 years | ' | ' |
Land Improvements [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '15 years | ' | ' |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '3 years | ' | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '10 years | ' | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '3 years | ' | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '10 years | ' | ' |
Leasehold Improvements [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '7 years | ' | ' |
Software and Software Development Costs [Member] | Minimum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '3 years | ' | ' |
Software and Software Development Costs [Member] | Maximum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life minimum (years) | '10 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Delivery time by geographic location (in days) | 1 | ' | ' |
Maximum [Member] | ' | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' | ' |
Delivery time by geographic location (in days) | 5 | ' | ' |
Concentrations_Concentations_D
Concentrations Concentations (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Apparel Production [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration risk sourcing countries | '20 |
Footwear Production [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration risk sourcing countries | '4 |
Maximum [Member] | ' |
Concentration Risk [Line Items] | ' |
Remaining maturity of derivative contracts | '2 years |
Aggregate unrealized gain of derivative contracts with single counterparty | 2,000,000 |
Canada [Member] | Credit Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 10.50% |
Vietnam And China [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 67.00% |
China And Vietnam [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 99.00% |
Five Largest Apparel Factory Groups [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 30.00% |
Largest Apparel Factory Groups [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 13.00% |
Five Largest Footwear Factory Groups [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 79.00% |
Largest Footwear Factory Groups [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration percentage | 36.00% |
NonControlling_Interest_NonCon1
Non-Controlling Interest Non-Controlling Interest (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Noncontrolling Interest [Line Items] | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 60.00% |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% |
Non-controlling Interest [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Payments to Acquire Interest in Joint Venture | $8,000,000 |
Parent [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Payments to Acquire Interest in Joint Venture | $12,000,000 |
Accounts_Receivable_Net_Accoun1
Accounts Receivable, Net Accounts Receivable, Net (Components of Accounts Receivable) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Trade accounts receivable | $315,160 | $341,701 |
Allowance for doubtful accounts | -8,282 | -7,377 |
Accounts receivable, net | $306,878 | $334,324 |
Inventories_Net_Inventories_Ne1
Inventories, Net Inventories, Net (Schedule of Inventories, Net) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $1,130 | $1,633 |
Work in process | 1,203 | 1,969 |
Finished goods | 326,895 | 359,723 |
Inventory, net | $329,228 | $363,325 |
Property_Plant_and_Equipment_N2
Property, Plant, and Equipment, Net Property, Plant, and Equipment, Net (Schedule of Property, Plant, and Equipment, Net) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | $605,753 | $563,567 |
Less accumulated depreciation | -326,380 | -303,043 |
Property, plant, and equipment, net | 279,373 | 260,524 |
Land and Land Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | 21,321 | 20,036 |
Building and Building Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | 165,582 | 166,365 |
Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | 212,097 | 206,805 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | 65,540 | 54,914 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | 78,631 | 72,426 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, and equipment, gross | $62,582 | $43,021 |
Intangible_Assets_Net_and_Good2
Intangible Assets, Net and Goodwill Intangible Assets, Net and Goodwill (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | $1,330,000 | $1,402,000 | $1,403,000 |
Estimated amortization expense, 2014 | 1,330,000 | ' | ' |
Estimated amortization expense, 2015 | 1,330,000 | ' | ' |
Estimated amortization expense, 2016 | 1,330,000 | ' | ' |
Estimated amortization expense, 2017 | 1,330,000 | ' | ' |
Estimated amortization expense, 2018 | 1,330,000 | ' | ' |
Impairment of goodwill | 0 | 0 | 0 |
Impairment of intangible assets (excluding goodwill) | $0 | $0 | $0 |
Patents And Purchased Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period, in years | '10 years | ' | ' |
Intangible_Assets_Net_and_Good3
Intangible Assets, Net and Goodwill Intangible Assets, Net and Goodwill (Schedule of Identifiable Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Gross carrying amount | $14,198 | $14,198 |
Accumulated amortization | -5,331 | -4,001 |
Net carrying amount | 8,867 | 10,197 |
Intangible assets not subject to amortization | 27,421 | 27,421 |
Intangible assets, net | $36,288 | $37,618 |
ShortTerm_Borrowings_and_Credi1
Short-Term Borrowings and Credit Lines Short-Term Borrowings and Credit Lines (Narrative) (Details) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | USD ($) | Domestic [Member] | Domestic [Member] | Canadian Subsidiary [Member] | Canadian Subsidiary [Member] | Canadian Subsidiary [Member] | European Subsidiary [Member] | European Subsidiary [Member] | European Subsidiary [Member] | European Subsidiary [Member] | European Subsidiary [Member] | European Subsidiary [Member] | Japanese Subsidiary [Member] | Japanese Subsidiary [Member] | Japanese Subsidiary [Member] | Japanese Subsidiary [Member] | Japanese Subsidiary [Member] | Korean Subsidiary [Member] | Korean Subsidiary [Member] | Korean Subsidiary [Member] | Committed Portion Of Credit Facility [Member] | Unsecured And Uncommitted Line Of Credit [Member] | Minimum [Member] | Maximum [Member] | |
Unsecured And Uncommitted Line Of Credit [Member] | Unsecured And Uncommitted Line Of Credit [Member] | Unsecured And Uncommitted Line Of Credit [Member] | Unsecured And Uncommitted Line Of Credit [Member] | Unsecured And Uncommitted Line Of Credit [Member] | USD ($) | USD ($) | Unsecured And Uncommitted Line Of Credit [Member] | European Customs Guaranteed Line Of Credit [Member] | Unsecured And Uncommitted Credit Line1 [Member] | Unsecured And Uncommitted Credit Line2 [Member] | Unsecured And Uncommitted Line Of Credit [Member] | Unsecured And Uncommitted Credit Line1 [Member] | Unsecured And Uncommitted Credit Line2 [Member] | Revolving Line Of Credit [Member] | Revolving Line Of Credit [Member] | USD ($) | USD ($) | Unsecured And Uncommitted Line Of Credit [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | |||
USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | USD ($) | JPY (¥) | USD ($) | USD ($) | USD ($) | Revolving Line Of Credit [Member] | Committed Line Of Credit [Member] | Committed Line Of Credit [Member] | ||||||||
USD ($) | |||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate description | ' | ' | ' | ' | 'Canadian prime rate | 'Canadian prime rate | ' | ' | ' | ' | ' | 'European Central Bank ("ECB") refinancing rate plus 50 basis points | 'Euro Overnight Index Average ("EONIA") plus 75 basis points | ' | 'LIBOR plus 100 basis points | 'Bank of Tokyo Prime Rate | ' | ' | ' | ' | 'CD rate plus 220 basis points | ' | ' | 'LIBOR plus 87.5 basis points | 'LIBOR plus 162.5 basis points |
Line of credit facility amount outstanding | $0 | $156,000 | $0 | $0 | $0 | ' | $156,000 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' |
Available credit amount | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
Maturity date of agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Jul-18 | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | 28,241,000 | 30,000,000 | ' | ' | ' | 42,331,000 | 3,161,000 | 25,800,000 | 5,000,000 | 12,849,000 | 10,000,000 | 300,000,000 | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' |
Letters of credit, outstanding amount | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued_Liabilities_Accrued_Li1
Accrued Liabilities Accrued Liabilities (Schedule of Accrued Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Accrued Liabilities, Current [Abstract] | ' | ' | ' | ' |
Accrued salaries, bonus, vacation and other benefits | $68,046 | $55,728 | ' | ' |
Accrued import duties | 10,594 | 15,023 | ' | ' |
Product warranties | 10,768 | 10,209 | 10,452 | 10,256 |
Other | 30,989 | 24,230 | ' | ' |
Accrued liabilities, total | $120,397 | $105,190 | ' | ' |
Accrued_Liabilities_Accrued_Li2
Accrued Liabilities Accrued Liabilities (Reconciliation of Product Warranties) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accrued Liabilities, Current [Abstract] | ' | ' | ' |
Balance at beginning of period | $10,209 | $10,452 | $10,256 |
Provision for warranty claims | 5,644 | 4,905 | 4,758 |
Warranty claims | -5,054 | -5,272 | -4,468 |
Other | -31 | 124 | -94 |
Balance at end of period | $10,768 | $10,209 | $10,452 |
Income_Taxes_Income_Taxes_Narr
Income Taxes Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Net operating loss carryforwards | $76,525,000 | $56,749,000 | ' |
Net operating loss carryforwards, expiration year | 1-Jan-15 | ' | ' |
Deferred tax assets, net operating loss carryforwards | 9,683,000 | 6,198,000 | ' |
Operating loss carryforward, valuation allowance | 8,297,000 | 6,198,000 | ' |
Non-current deferred tax assets | 3,994,000 | 6,293,000 | ' |
Undistributed earnings of foreign subsidiaries | 320,708,000 | ' | ' |
Unrecognized deferred tax liability associated with undistributed earnings | 77,825,000 | ' | ' |
Unrecognized tax benefits that would affect the effective tax rate | 12,679,000 | 10,328,000 | ' |
Estimated change in unrecognized tax benefits, minimum range | 0 | ' | ' |
Estimated change in unrecognized tax benefits, maximum range | 14,077,000 | ' | ' |
Interest expense and penalties recognized (reversed) | -253,000 | -357,000 | -501,000 |
Accrued interest and penalties related to uncertain tax positions | $2,823,000 | $3,077,000 | ' |
Income_Taxes_Income_Taxes_Cons
Income Taxes Income Taxes (Consolidated Income from Continuing Operations Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. operations | $88,561 | $73,625 | $68,412 |
Foreign operations | 42,865 | 60,282 | 69,268 |
Income before income tax | $131,426 | $133,907 | $137,680 |
Income_Taxes_Income_Taxes_Comp
Income Taxes Income Taxes (Components of Provision (Benefit) for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current, federal | $14,953 | $14,365 | $16,384 |
Current, state and local | 1,999 | 876 | 1,995 |
Current, non-U.S. | 14,178 | 12,448 | 19,508 |
Current income tax expense | 31,130 | 27,689 | 37,887 |
Deferred, federal | 11,363 | 5,806 | 407 |
Deferred, state and local | -120 | 690 | 229 |
Deferred, non-U.S. | -4,550 | -137 | -4,322 |
Deferred income tax expense | 6,693 | 6,359 | -3,686 |
Income tax expense | $37,823 | $34,048 | $34,201 |
Income_Taxes_Income_Taxes_Reco
Income Taxes Income Taxes (Reconciliation of Statutory Federal Income Tax Rate to Effective Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Provision for federal income taxes at the statutory rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit | 1.50% | 1.70% | 1.50% |
Non-U.S. income taxes at different rates | -3.70% | -5.40% | -6.50% |
Foreign tax credits | -0.50% | 0.00% | -1.80% |
Reduction of accrued income taxes | -1.90% | -4.30% | -3.50% |
Research credits | -2.10% | -1.70% | -0.60% |
Other | 0.50% | 0.10% | 0.70% |
Actual provision for income taxes | 28.80% | 25.40% | 24.80% |
Income_Taxes_Income_Taxes_Sign
Income Taxes Income Taxes (Significant Components of Deferred Taxes) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Non-deductible accruals and allowances | $37,986 | $31,139 |
Capitalized inventory costs | 22,589 | 25,294 |
Stock compensation | 6,329 | 6,633 |
Net operating loss carryforwards | 9,683 | 6,198 |
Depreciation and amortization | 2,413 | 1,568 |
Tax credits | 198 | 10,398 |
Other | 1,055 | 755 |
Gross deferred tax assets | 80,253 | 81,985 |
Valuation allowance | -8,633 | -6,935 |
Net deferred tax assets | 71,620 | 75,050 |
Depreciation and amortization | -20,243 | -16,802 |
Foreign currency loss | -2,540 | -2,313 |
Other | -810 | -587 |
Gross deferred tax liabilities | -23,593 | -19,702 |
Total net deferred taxes | $48,027 | $55,348 |
Income_Taxes_Income_Taxes_Reco1
Income Taxes Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance at beginning of period | $12,431 | $14,316 | $18,694 |
Increases related to prior year tax positions | 252 | 3,208 | 43 |
Decreases related to prior year tax positions | -332 | -19 | -141 |
Increases related to current year tax positions | 4,281 | 2,049 | 1,388 |
Settlements | -84 | -1,817 | -649 |
Expiration of statute of limitations | -1,909 | -5,306 | -5,019 |
Balance at end of period | $14,639 | $12,431 | $14,316 |
Other_LongTerm_Liabilities_Oth1
Other Long-Term Liabilities Other Long-Term Liabilities (Schedule of Other Long-Term Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Straight-line and deferred rent liabilities | $22,525 | $20,395 |
Asset retirement obligations | 2,052 | 1,849 |
Deferred compensation plan liability | 4,855 | 4,080 |
Other | 95 | 847 |
Total other long-term liabilities | $29,527 | $27,171 |
Retirement_Savings_Plans_Retir
Retirement Savings Plans Retirement Savings Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Liability to participants under deferred compensation plan | $4,855,000 | $4,080,000 | ' |
Current liability to participants under deferred compensation plan | 336,000 | ' | ' |
401(k) Profit-Sharing Plan [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Company contributions to the plan | 5,200,000 | 4,966,000 | 5,223,000 |
Deferred Compensation Plan [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Company contributions to the plan | 483,000 | 259,000 | 245,000 |
Fair value of mutual fund investments | $4,855,000 | $4,080,000 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Y | |
Loss Contingencies [Line Items] | ' |
Letters of credit, outstanding amount | 0 |
Inventories [Member] | ' |
Loss Contingencies [Line Items] | ' |
Outstanding inventory purchase obligations | 216,752,000 |
Minimum [Member] | ' |
Loss Contingencies [Line Items] | ' |
Operating leases, base lease term | 5 |
Maximum [Member] | ' |
Loss Contingencies [Line Items] | ' |
Operating leases, base lease term | 10 |
Commitments_and_Contingencies_2
Commitments and Contingencies Commitments and Contingencies (Schedule of Rent Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Rent expense | $55,564 | $53,381 | $48,298 |
Selling, General and Administrative Expense [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Rent expense | 53,972 | 51,853 | 46,869 |
Cost of Sales [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Rent expense | $1,592 | $1,528 | $1,429 |
Commitments_and_Contingencies_3
Commitments and Contingencies Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $44,689 |
2015 | 40,298 |
2016 | 37,301 |
2017 | 33,962 |
2018 | 30,511 |
Thereafter | 88,926 |
Operating leases, future minimum payments due, total | $275,687 |
Shareholders_Equity_Shareholde
Shareholders' Equity Shareholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stock repurchase plan, authorized amount | $500,000,000 |
Aggregate shares repurchased under stock repurchase plan | 9,593,278 |
Stock repurchased to date, value | $441,443,000 |
StockBased_Compensation_StockB1
Stock-Based Compensation Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Shares authorized | 10,400,000 | ' | ' |
Shares available for future grants | 2,187,824 | ' | ' |
Tax benefit for the deduction from stock-based award transactions | $4,793,000 | $3,410,000 | $4,702,000 |
Stock-based compensation expense | 8,878,000 | 7,833,000 | 7,870,000 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Stock-based compensation expense | 3,479,000 | 3,180,000 | 3,550,000 |
Unrecognized costs related to share based compensation | 5,637,000 | ' | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 2 months 23 days | ' | ' |
Intrinsic value of stock options exercised | 7,491,000 | 5,517,000 | 4,906,000 |
Cash received on exercises of stock options | 19,537,000 | 14,600,000 | 10,991,000 |
Stock Options [Member] | After2000 And Before2009 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '4 years | ' | ' |
Expiration period, years | '10 years | ' | ' |
Stock Options [Member] | During2005 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '1 year | ' | ' |
Expiration period, years | '10 years | ' | ' |
Stock Options [Member] | After2008 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '4 years | ' | ' |
Expiration period, years | '10 years | ' | ' |
Service Based Restricted Stock Units [Member] | After2008 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '4 years | ' | ' |
Service Based Restricted Stock Units [Member] | Prior To2009 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '3 years | ' | ' |
Performance Based Restricted Stock Units [Member] | Prior To2010 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Additional requisite service period, years | '1 year | ' | ' |
Performance Based Restricted Stock Units [Member] | Minimum [Member] | Prior To2010 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '2 years 6 months | ' | ' |
Performance Based Restricted Stock Units [Member] | Minimum [Member] | After2009 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '2 years | ' | ' |
Performance Based Restricted Stock Units [Member] | Maximum [Member] | Prior To2010 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '3 years | ' | ' |
Performance Based Restricted Stock Units [Member] | Maximum [Member] | After2009 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | '3 years | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Stock-based compensation expense | 5,399,000 | 4,653,000 | 4,320,000 |
Unrecognized costs related to share based compensation | 10,640,000 | ' | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 3 months 4 days | ' | ' |
Company withheld shares | 41,683 | 30,299 | 48,059 |
Company withheld shares, tax obligations | 2,291,000 | 1,486,000 | 2,974,000 |
Grant date fair value of vested units | $5,362,000 | $3,874,000 | $5,586,000 |
Simplified Method [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Vesting period of options granted, years | ' | '5 years | ' |
StockBased_Compensation_StockB2
Stock-Based Compensation Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Pre-tax stock-based compensation expense | $8,878,000 | $7,833,000 | $7,870,000 |
Income tax benefits | -3,102,000 | -2,724,000 | -2,729,000 |
Total stock-based compensation expense, net of tax | 5,776,000 | 5,109,000 | 5,141,000 |
Cost of Sales [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Pre-tax stock-based compensation expense | 347,000 | 287,000 | 282,000 |
Selling, General and Administrative Expense [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Pre-tax stock-based compensation expense | $8,531,000 | $7,546,000 | $7,588,000 |
StockBased_Compensation_StockB3
Stock-Based Compensation Stock-Based Compensation (Schedule of Weighted Average Assumptions) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Stock options granted | 354,110 | 358,169 | 340,973 | |
Stock Options [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Expected term, years | '4 years 8 months 12 days | '4 years 9 months 11 days | '5 years 1 month 13 days | [1] |
Expected stock price volatility | 30.53% | 32.20% | 30.76% | [1] |
Risk-free interest rate | 0.71% | 0.88% | 1.84% | [1] |
Expected dividend yield | 1.62% | 1.80% | 1.31% | [1] |
Weighted average grant date fair value | 12.36 | 11.57 | 16.09 | [1] |
Simplified Method [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Stock options granted | ' | 53,720 | ' | |
Vesting period | ' | '5 years | ' | |
[1] | During the year ended December 31, 2011, the Company granted two stock option awards totaling 53,720 shares that vest 100% on the fifth anniversary of the grant date. Because the Company did not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. |
StockBased_Compensation_StockB4
Stock-Based Compensation Stock-Based Compensation (Summary of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Options outstanding, beginning, number of shares | 1,723,989 | 1,919,096 | 1,872,214 | ' |
Granted, number of shares | 354,110 | 358,169 | 340,973 | ' |
Cancelled, number of shares | -59,549 | -172,465 | -40,396 | ' |
Exercised, number of shares | -444,418 | -380,811 | -253,695 | ' |
Options outstanding, ending, number of shares | 1,574,132 | 1,723,989 | 1,919,096 | 1,872,214 |
Options outstanding, beginning, weighted average exercise price | $47.64 | $46.05 | $42.84 | ' |
Granted, weighted average exercise price | $54.66 | $48.82 | $61.38 | ' |
Cancelled, weighted average exercise price | $53.33 | $52.90 | $43.68 | ' |
Exercised, weighted average exercise price | $43.96 | $38.34 | $43.32 | ' |
Options outstanding, ending, weighted average exercise price | $50.04 | $47.64 | $46.05 | $42.84 |
Options outstanding, beginning, weighted average remaining contractual life, years | '6 years 4 months 10 days | '6 years 1 month 24 days | '6 years 3 months | '6 years 4 months |
Options outstanding, ending, weighted average remaining contractual life, years | '6 years 4 months 10 days | '6 years 1 month 24 days | '6 years 3 months | '6 years 4 months |
Options outstanding, beginning, aggregate intrinsic value | $13,001 | $9,141 | $33,057 | ' |
Options outstanding, ending, aggregate intrinsic value | 45,187 | 13,001 | 9,141 | 33,057 |
Options vested and expected to vest, number of shares | 1,520,425 | ' | ' | ' |
Options vested and expected to vest, weighted average exercise price | $49.90 | ' | ' | ' |
Options vested and expected to vest, weighted average remining contractual life, years | '6 years 3 months 11 days | ' | ' | ' |
Options vested and expected to vest, aggregate intrinsic value | 43,859 | ' | ' | ' |
Options exercisable, number of shares | 821,859 | ' | ' | ' |
Options exercisable, weighted average exercise price | $47.15 | ' | ' | ' |
Options exercisable, weighted average remaining contractual life | '4 years 7 months 28 days | ' | ' | ' |
Options exercisable, aggregate intrinsic value | $25,969 | ' | ' | ' |
StockBased_Compensation_StockB5
Stock-Based Compensation Stock-Based Compensation (Schedule of Weighted Average Assumptions for Restricted Stock Units) (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '3 years 10 months 2 days | '3 years 10 months 10 days | '3 years 11 months 16 days |
Expected dividend yield | 1.58% | 1.77% | 1.33% |
Estimated average fair value per restricted stock unit granted | $53.34 | $46.57 | $58.37 |
StockBased_Compensation_StockB6
Stock-Based Compensation Stock-Based Compensation (Summary of Restricted Stock Unit Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted stock units outstanding, beginning, number of shares | 320,558 | 296,752 | 328,795 |
Granted, number of shares | 161,237 | 185,303 | 145,768 |
Vested, number of shares | -116,357 | -91,383 | -146,951 |
Forfeited, number of shares | -28,191 | -70,114 | -30,860 |
Restricted stock units outstanding, ending, number of shares | 337,247 | 320,558 | 296,752 |
Restricted stock units outstanding, beginning, weighted average grate date fair value per share | $48.31 | $47.19 | $37.63 |
Granted, weighted average grant date fair value per share | $53.34 | $46.57 | $58.37 |
Vested, weighted average grant date fair value | $46.08 | $42.39 | $38.01 |
Forfeited, weighted average grant date fair value | $49.90 | $46.26 | $41.79 |
Restricted stock units outstanding, ending, weighted average grate date fair value per share | $51.33 | $48.31 | $47.19 |
Earnings_per_Share_Earnings_pe1
Earnings per Share Earnings per Share (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options And Service Based Restricted Stock Units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 360,795 | 887,186 | 452,907 |
Performance Based Restricted Stock Units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 10,929 | 36,506 | 34,448 |
Earnings_per_Share_Earnings_pe2
Earnings per Share Earnings per Share (Schedule of Earnings per Share, Basic and Diluted) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Weighted average common shares outstanding, used in computing basic earnings per share | 34,378 | 33,840 | 33,808 |
Effect of dilutive stock options and restricted stock units | 339 | 292 | 396 |
Weighted-average common shares outstanding, used in computing diluted earnings per share | 34,717 | 34,132 | 34,204 |
Basic | $2.74 | $2.95 | $3.06 |
Diluted | $2.72 | $2.93 | $3.03 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Accumulated Other Comprehensive Income, Net of Related Tax Effects) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | $46,663 | $46,897 | $46,715 |
Other comprehensive income (loss) before reclassifications | -7,263 | 5,264 | -5,250 |
Amounts reclassified from other comprehensive income | -4,040 | -5,498 | 5,432 |
Net other comprehensive income (loss) during the period | -11,303 | -234 | 182 |
Accumulated other comprehensive income at end of period | 35,360 | 46,663 | 46,897 |
Unrealized Holding Gains (Losses) on Available-For-Sale Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | -9 | -2 | 36 |
Other comprehensive income (loss) before reclassifications | 3 | -7 | -38 |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 3 | -7 | -38 |
Accumulated other comprehensive income at end of period | -6 | -9 | -2 |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 2,505 | 7,250 | -1,671 |
Other comprehensive income (loss) before reclassifications | 2,779 | 753 | 3,489 |
Amounts reclassified from other comprehensive income | -4,040 | -5,498 | 5,432 |
Net other comprehensive income (loss) during the period | -1,261 | -4,745 | 8,921 |
Accumulated other comprehensive income at end of period | 1,244 | 2,505 | 7,250 |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 44,167 | 39,649 | 48,350 |
Other comprehensive income (loss) before reclassifications | -10,045 | 4,518 | -8,701 |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | -10,045 | 4,518 | -8,701 |
Accumulated other comprehensive income at end of period | $34,122 | $44,167 | $39,649 |
Segment_Information_Segment_In1
Segment Information Segment Information (Schedule of Segment Information) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | $1,684,996 | $1,669,563 | $1,693,985 |
Income (loss) from operations | 131,794 | 133,528 | 136,406 |
Interest income (expense), net | 503 | 379 | 1,274 |
Other non-operating income (expense) | -871 | 0 | 0 |
Income before income taxes | 131,426 | 133,907 | 137,680 |
Income tax (expense) benefit | -37,823 | -34,048 | -34,201 |
Depreciation and amortization expense | 40,871 | 40,892 | 43,560 |
Assets | 1,605,588 | 1,458,842 | ' |
Total identifiable assets | 1,940,841 | 1,732,767 | ' |
United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | 971,321 | 946,710 | 947,970 |
Income (loss) from operations | 83,663 | 68,504 | 63,847 |
Interest income (expense), net | 4,501 | 5,121 | 4,565 |
Income tax (expense) benefit | -28,629 | -21,961 | -19,233 |
Depreciation and amortization expense | 29,922 | 31,025 | 33,100 |
Assets | 1,156,323 | 1,031,838 | ' |
LAAP [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | 354,345 | 377,545 | 340,977 |
Income (loss) from operations | 41,896 | 51,219 | 46,214 |
Interest income (expense), net | -162 | -1,097 | -666 |
Income tax (expense) benefit | -11,135 | -13,792 | -12,163 |
Depreciation and amortization expense | 4,061 | 4,214 | 3,241 |
Assets | 287,754 | 229,139 | ' |
EMEA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | 240,702 | 230,624 | 275,416 |
Income (loss) from operations | -975 | 7,993 | 13,779 |
Interest income (expense), net | -556 | 293 | 648 |
Income tax (expense) benefit | 2,959 | 1,527 | -80 |
Depreciation and amortization expense | 4,032 | 4,112 | 6,292 |
Assets | 317,717 | 293,878 | ' |
Canada [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | 118,628 | 114,684 | 129,622 |
Income (loss) from operations | 7,210 | 5,812 | 12,566 |
Interest income (expense), net | -3,280 | -3,938 | -3,273 |
Income tax (expense) benefit | -1,018 | 178 | -2,725 |
Depreciation and amortization expense | 2,856 | 1,541 | 927 |
Assets | 179,047 | 177,912 | ' |
Eliminations and Reclassifications [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Assets | -335,253 | -273,925 | ' |
Apparel, Accessories And Equipment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | 1,374,598 | 1,347,005 | 1,334,883 |
Footwear [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales to unrelated entities | $310,398 | $322,558 | $359,102 |
Financial_Instruments_and_Risk2
Financial Instruments and Risk Management Financial Instruments and Risk Management (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Derivatives [Line Items] | ' |
Deferred net gains on derivatives accumulated in other comprehensive income expected to be reclassified to net income in next twelve months | $2,032,000 |
Maximum [Member] | ' |
Derivatives [Line Items] | ' |
Remaining maturity of derivative contracts | '2 years |
Aggregate unrealized gain of derivative contracts with single counterparty | $2,000,000 |
Financial_Instruments_and_Risk3
Financial Instruments and Risk Management Financial Instruments and Risk Management (Gross Notional Amount of Outstanding Derivatives) (Details) (Foreign Exchange Forward [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Currency forward contracts | $99,000 | $70,000 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Currency forward contracts | $109,000 | $121,934 |
Financial_Instruments_and_Risk4
Financial Instruments and Risk Management Financial Instruments and Risk Management (Balance Sheet Classification and Fair Value of Derivative Instruments) (Details) (Forward Contracts [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Not Designated as Hedging Instrument [Member] | Prepaid Expenses And Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | $2,956 | $4,072 |
Not Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | 280 | 743 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Prepaid Expenses And Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | 1,936 | 2,147 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | 24 | 489 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | 872 | 579 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Long Term Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | $95 | $0 |
Financial_Instruments_and_Risk5
Financial Instruments and Risk Management Financial Instruments and Risk Management (Effect and Classification of Derivative Instuments) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) recognized in other comprehensive income, net of tax | $2,779 | $753 | $3,489 |
Designated as Hedging Instrument [Member] | Cost of Sales [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) reclassified from accumulated other comprehensive income to income for the effective portion | 5,721 | 5,908 | -6,862 |
Gain reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance | 0 | 441 | 0 |
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | -71 | -40 | -1,889 |
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income (Expense) [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) recognized in income | 8,824 | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Selling, General and Administrative Expense [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) recognized in income | $0 | ($1,841) | $1,216 |
Fair_Value_Measures_Fair_Value1
Fair Value Measures Fair Value Measures (Narrative) (Details) (EMEA [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Asset Impairment Charges | $8,995,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Property, Plant, and Equipment, Fair Value Disclosure | $19,300,000 |
Fair_Value_Measures_Fair_Value2
Fair Value Measures Fair Value Measures (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | $367,420 | $184,139 |
Liabilities, Fair Value Disclosure | 1,247 | 1,322 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 220,930 | 99,972 |
Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 146,490 | 84,167 |
Liabilities, Fair Value Disclosure | 1,247 | 1,322 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 175,624 | 70,857 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 175,624 | 70,857 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 34,637 | 25,035 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 25,111 | 25,035 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 9,526 | 0 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Certificates of Deposit [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 735 | 2,450 |
Certificates of Deposit [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 9,546 | 7,596 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 735 | 2,450 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 9,546 | 7,596 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Repurchase Agreements [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 45,000 | 25,000 |
Repurchase Agreements [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Repurchase Agreements [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 45,000 | 25,000 |
Repurchase Agreements [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
U.S. Government-Backed Municipal Bonds [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 9,898 | 5,348 |
U.S. Government-Backed Municipal Bonds [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 14,764 | 14,425 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 9,898 | 5,348 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 14,764 | 14,425 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
U.S. Government-Backed Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Short-term municipal bond fund [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 15,004 | ' |
Short-term municipal bond fund [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 15,004 | ' |
Short-term municipal bond fund [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | ' |
Short-term municipal bond fund [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | ' |
Variable Rate Demand Obligation [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 52,105 | 22,640 |
Variable Rate Demand Obligation [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Variable Rate Demand Obligation [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 52,105 | 22,640 |
Variable Rate Demand Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 4,892 | 6,219 |
Derivative Financial Instruments, Assets [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 24 | 489 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 4,892 | 6,219 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 24 | 489 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Trading Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 336 | ' |
Mutual Fund Shares [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 4,855 | 4,080 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 1 [Member] | Trading Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 336 | ' |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 1 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 4,855 | 4,080 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 2 [Member] | Trading Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | ' |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 2 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 3 [Member] | Trading Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | ' |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 3 [Member] | Non Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 1,152 | 1,322 |
Derivative Financial Instruments, Liabilities [Member] | Other Long Term Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 95 | ' |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | Other Long Term Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 0 | ' |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 1,152 | 1,322 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | Other Long Term Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 95 | ' |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | Other Long Term Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities, Fair Value Disclosure | $0 | ' |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | $7,377 | $7,545 | $7,098 | |||
Charged to Costs and Expenses | 2,609 | 981 | 1,045 | |||
Deductions | -1,687 | [1] | -1,173 | [1] | -547 | [1] |
Other | -17 | [2] | 24 | [2] | -51 | [2] |
Balance at End of Period | 8,282 | 7,377 | 7,545 | |||
Allowance For Sales Returns And Miscellaneous Claims [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | 32,547 | 28,201 | 17,236 | |||
Charged to Costs and Expenses | 42,327 | 63,453 | 51,597 | |||
Deductions | -48,473 | [1] | -58,353 | [1] | -40,651 | [1] |
Other | -1,276 | [2] | -754 | [2] | 19 | [2] |
Balance at End of Period | $25,125 | $32,547 | $28,201 | |||
[1] | Charges to the accounts included in this column are for the purposes for which the reserves were created. | |||||
[2] | Amounts included in this column primarily relate to foreign currency translation. |