Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 25, 2014 | |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'COLUMBIA SPORTSWEAR CO | ' |
Entity Central Index Key | '0001050797 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 35,043,513 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Current Assets: | ' | ' | ' |
Cash and cash equivalents | $367,165,000 | $437,489,000 | $340,428,000 |
Short-term investments | 27,238,000 | 91,755,000 | 90,181,000 |
Accounts receivable, net of allowance of $6,977, $8,282 and $7,566, respectively | 204,527,000 | 306,878,000 | 180,937,000 |
Inventories, net (Note 5) | 456,448,000 | 329,228,000 | 423,765,000 |
Deferred income taxes | 52,202,000 | 52,041,000 | 47,884,000 |
Prepaid expenses and other current assets | 42,551,000 | 33,081,000 | 47,074,000 |
Total current assets | 1,150,131,000 | 1,250,472,000 | 1,130,269,000 |
Property, plant and equipment, at cost, net of accumulated depreciation of $345,153, $326,380 and $310,934, respectively | 291,270,000 | 279,373,000 | 273,016,000 |
Intangible assets, net (Notes 3,6) | 149,221,000 | 36,288,000 | 36,952,000 |
Goodwill (Notes 3,6) | 69,257,000 | 14,438,000 | 14,438,000 |
Other non-current assets | 25,412,000 | 25,017,000 | 22,359,000 |
Total assets | 1,685,291,000 | 1,605,588,000 | 1,477,034,000 |
Current Liabilities: | ' | ' | ' |
Accounts payable | 239,906,000 | 173,557,000 | 185,984,000 |
Accrued liabilities (Note 7) | 104,332,000 | 120,397,000 | 84,878,000 |
Income taxes payable | 3,315,000 | 7,251,000 | 3,895,000 |
Deferred income taxes | 66,000 | 49,000 | 18,000 |
Total current liabilities | 347,619,000 | 301,254,000 | 274,775,000 |
Note payable to related party (Note 15) | 15,734,000 | 0 | 0 |
Income taxes payable | 4,373,000 | 13,984,000 | 13,205,000 |
Deferred income taxes | 8,261,000 | 7,959,000 | 1,778,000 |
Other long-term liabilities | 31,339,000 | 29,527,000 | 27,820,000 |
Total liabilities | 407,326,000 | 352,724,000 | 317,578,000 |
Commitments and contingencies (Note 13) | ' | ' | ' |
Equity: | ' | ' | ' |
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 | 0 |
Common stock (no par value); 125,000 shares authorized; 35,040, 34,595 and 34,409 issued and outstanding, respectively (Note 10) | 77,793,000 | 52,325,000 | 38,972,000 |
Retained earnings | 1,154,103,000 | 1,157,733,000 | 1,082,634,000 |
Accumulated other comprehensive income (Note 9) | 38,075,000 | 35,360,000 | 30,025,000 |
Total shareholders' equity | 1,269,971,000 | 1,245,418,000 | 1,151,631,000 |
Non-controlling interest (Note 4) | 7,994,000 | 7,446,000 | 7,825,000 |
Total equity | 1,277,965,000 | 1,252,864,000 | 1,159,456,000 |
Total liabilities and equity | $1,685,291,000 | $1,605,588,000 | $1,477,034,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, except Per Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $6,977 | $8,282 | $7,566 |
Accumulated depreciation for property, plant and equipment | $345,153 | $326,380 | $310,934 |
Preferred stock, shares authorized (in shares) | 10,000 | 10,000 | 10,000 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 | 0 |
Common stock, no par value (in dollars per share) | $0 | $0 | $0 |
Common stock, shares authorized (in shares) | 125,000 | 125,000 | 125,000 |
Common stock, shares issued (in shares) | 35,040 | 34,595 | 34,409 |
Common stock, shares outstanding (in shares) | 35,040 | 34,595 | 34,409 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net sales | $324,246 | $280,495 | $748,330 | $628,802 |
Cost of sales | 180,221 | 160,211 | 407,219 | 355,214 |
Gross profit | 144,025 | 120,284 | 341,111 | 273,588 |
Selling, general and administrative expenses | 162,196 | 131,935 | 325,555 | 274,838 |
Net licensing income | 1,182 | 1,654 | 2,906 | 3,981 |
Income (loss) from operations | -16,989 | -9,997 | 18,462 | 2,731 |
Interest income, net | 384 | 215 | 623 | 347 |
Interest expense on note payable to related party | -277 | 0 | -487 | 0 |
Other non-operating expense | -149 | -473 | -505 | -1,103 |
Income (loss) before income tax | -17,031 | -10,255 | 18,093 | 1,975 |
Income tax benefit (expense) | 10,293 | 2,925 | -1,155 | 797 |
Net income (loss) | -6,738 | -7,330 | 16,938 | 2,772 |
Net income (loss) attributable to non-controlling interest | -409 | -253 | 1,012 | -253 |
Net income (loss) attributable to Columbia Sportswear Company | ($6,329) | ($7,077) | $15,926 | $3,025 |
Earnings (loss) per share (Note 10): | ' | ' | ' | ' |
Basic (in dollars per share) | ($0.18) | ($0.21) | $0.46 | $0.09 |
Diluted (in dollars per share) | ($0.18) | ($0.21) | $0.45 | $0.09 |
Weighted average shares outstanding (Note 10): | ' | ' | ' | ' |
Basic (in shares) | 34,958 | 34,353 | 34,834 | 34,260 |
Diluted (in shares) | 34,958 | 34,353 | 35,301 | 34,561 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net income (loss) | ($6,738) | ($7,330) | $16,938 | $2,772 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities (net of tax benefit (expense) of $1, ($1), ($1) and ($4), respectively | 3 | 7 | 4 | 16 |
Unrealized gains (losses) on derivative transactions (net of tax benefit (expense) of $638, ($599), $741, and ($1,149), respectively | -1,037 | 168 | -809 | 1,598 |
Foreign currency translation adjustments (net of tax benefit (expense) of $30, ($137), $23 and $98, respectively | 8,934 | -5,517 | 3,056 | -18,174 |
Other comprehensive income (loss) | 7,900 | -5,342 | 2,251 | -16,560 |
Comprehensive income (loss) | 1,162 | -12,672 | 19,189 | -13,788 |
Comprehensive income (loss) attributable to non-controlling interest | -375 | -175 | 548 | -175 |
Comprehensive income (loss) attributable to Columbia Sportswear Company | $1,537 | ($12,497) | $18,641 | ($13,613) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Comprehensive Income (Loss)(Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities tax benefit (expense) | $1 | ($1) | ($1) | ($4) |
Unrealized gains (losses) on derivative transactions tax benefit (expense) | 638 | -599 | 741 | -1,149 |
Foreign currency translation adjustment tax benefit (expense) | $30 | ($137) | $23 | $98 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $16,938 | $2,772 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 23,234 | 19,891 |
Loss on disposal or impairment of property, plant, and equipment | 229 | 299 |
Deferred income taxes | 5,601 | 3,185 |
Stock-based compensation | 5,208 | 4,282 |
Excess tax benefit from employee stock plans | -3,951 | -925 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 112,340 | 153,383 |
Inventories | -114,716 | -60,449 |
Prepaid expenses and other current assets | -7,357 | -8,446 |
Other assets | 297 | 116 |
Accounts payable | 60,089 | 40,078 |
Accrued liabilities | -23,095 | -20,150 |
Income taxes payable | -13,596 | 1,017 |
Other liabilities | 1,733 | 650 |
Net cash provided by (used in) operating activities | 62,954 | 135,703 |
Cash flows from investing activities: | ' | ' |
Acquisition of business, net of cash acquired | -188,467 | 0 |
Purchases of short-term investments | -21,471 | -61,286 |
Sales of short-term investments | 86,206 | 16,437 |
Capital expenditures | -24,964 | -31,502 |
Proceeds from sale of property, plant, and equipment | 16 | 45 |
Net cash provided by (used in) investing activities | -148,680 | -76,306 |
Cash flows from financing activities: | ' | ' |
Proceeds from credit facilities | 1,045 | 4,075 |
Repayments on credit facilities | -1,045 | -4,231 |
Proceeds from issuance of common stock under employee stock plans | 19,017 | 11,050 |
Tax payments related to restricted stock unit issuances | -2,881 | -2,019 |
Excess tax benefit from employee stock plans | 3,951 | 925 |
Proceeds from note payable to related party | 16,072 | 0 |
Capital contribution from non-controlling interest | 0 | 8,000 |
Cash dividends paid | -19,556 | -15,081 |
Net cash provided by (used in) financing activities | 16,603 | 2,719 |
Net effect of exchange rate changes on cash | -1,201 | -12,469 |
Net increase (decrease) in cash and cash equivalents | -70,324 | 49,647 |
Cash and cash equivalents, beginning of period | 437,489 | 290,781 |
Cash and cash equivalents, end of period | 367,165 | 340,428 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during the period for income taxes | 21,842 | 3,058 |
Supplemental disclosures of non-cash investing activities: | ' | ' |
Capital expenditures incurred but not yet paid | $8,145 | $3,885 |
Basis_Of_Presentation_And_Orga
Basis Of Presentation And Organization | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis Of Presentation And Organization | ' |
BASIS OF PRESENTATION AND ORGANIZATION | |
The accompanying unaudited condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, the “Company”) and in the opinion of management include all normal recurring material adjustments necessary to present fairly the Company’s financial position as of June 30, 2014 and 2013, the results of operations for the three and six months ended June 30, 2014 and 2013 and cash flows for the six months ended June 30, 2014 and 2013. The December 31, 2013 financial information was derived from the Company’s audited financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. A significant part of the Company’s business is of a seasonal nature; therefore, results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of results to be expected for the full year. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The Company, however, believes that the disclosures contained in this report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934 for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Principles of consolidation: | |
The condensed consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Estimates and assumptions: | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed 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 miscellaneous claims from customers, allowance for doubtful accounts, excess, slow-moving and closeout inventories, product warranty, long-lived and intangible assets, income taxes and stock-based compensation. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
There have been no significant changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Recent Accounting Pronouncements: | |
In March 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 a 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 adopted the new guidance as of January 1, 2014. The adoption of this standard did not have a material effect on the Company’s financial position, results of operations or cash flows. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers: Topic 606. This ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. This accounting standard is effective for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Early adoption is not permitted. The Company is currently evaluating the impact this accounting standard will have on the Company's financial position, results of operations or cash flows. |
Business_Acquisition_Business_
Business Acquisition Business Acquisition | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Business Acquisition | ' | ||||||||||||||||
NOTE 3—BUSINESS ACQUISITION | |||||||||||||||||
On May 30, 2014, the Company purchased 100% of the equity interest in prAna Living LLC (“prAna”) for $188,467,000 net of acquired cash of $4,946,000. PrAna is a lifestyle apparel brand sold through approximately 1,400 select specialty and online retailers across North America, as well as through five company-owned retail stores, an e-commerce site and direct-mail catalogs. The acquisition of prAna strengthens and diversifies the Company's brand portfolio and generally offsets some of the more seasonal sales effects found within existing Columbia brands. The acquisition was funded with cash on hand. | |||||||||||||||||
PrAna contributed net sales of $5,547,000 and net loss, including amortization of acquired assets, of $1,065,000 to the Company from May 31, 2014 to June 30, 2014. In addition, the Company incurred transaction costs of $3,374,000 during the three and six months ended June 30, 2014. These acquisition and integration costs are included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2014. | |||||||||||||||||
Purchase price allocation | |||||||||||||||||
Acquired assets and liabilities were recorded at estimated fair value as of the acquisition date. The excess of the purchase price over the estimated fair value of identifiable net assets resulted in the recognition of goodwill of $54,819,000, all of which was assigned to the United States segment, and is attributable to future growth opportunities and any intangible assets that did not qualify for separate recognition. The goodwill is expected to be deductible for tax purposes. | |||||||||||||||||
The following table summarizes the preliminary estimated fair value of the net assets acquired and liabilities assumed as of May 30, 2014, the acquisition date (in thousands): | |||||||||||||||||
30-May-14 | |||||||||||||||||
Cash | $ | 4,946 | |||||||||||||||
Accounts receivable | 10,021 | ||||||||||||||||
Inventories | 9,641 | ||||||||||||||||
Other current assets | 2,229 | ||||||||||||||||
Property, plant and equipment | 5,192 | ||||||||||||||||
Acquired intangible assets | 114,500 | ||||||||||||||||
Other non-current assets | 258 | ||||||||||||||||
Total assets acquired | 146,787 | ||||||||||||||||
Accounts payable | 2,803 | ||||||||||||||||
Other current liabilities | 5,390 | ||||||||||||||||
Total liabilities assumed | 8,193 | ||||||||||||||||
Net identifiable assets acquired | 138,594 | ||||||||||||||||
Goodwill | 54,819 | ||||||||||||||||
Net assets acquired | $ | 193,413 | |||||||||||||||
The allocation of the purchase price is preliminary and is based upon valuation information available and estimates and assumptions made at June 30, 2014. The Company is still in the process of verifying data and finalizing information related to the valuation and recording of accounts receivable, inventories, property, plant and equipment, identified intangible assets, accrued liabilities and the resulting effects on the amount of recognized goodwill. | |||||||||||||||||
The following table sets forth the components of identifiable intangible assets and their estimated useful lives as of May 30, 2014, the acquisition date (in thousands, except for estimated useful lives, in years): | |||||||||||||||||
Estimated fair value | Estimated useful life, in years | ||||||||||||||||
Trade name | $ | 88,000 | Indefinite | ||||||||||||||
Customer relationships | 23,000 | 3-10 years | |||||||||||||||
Order backlog | 3,500 | Less than 1 year | |||||||||||||||
Total | $ | 114,500 | |||||||||||||||
Summary of Unaudited Pro forma Information | |||||||||||||||||
The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of prAna had occurred on January 1, 2013 (in thousands): | |||||||||||||||||
(Unaudited) | |||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net sales | $ | 337,328 | $ | 296,518 | $ | 791,763 | $ | 671,424 | |||||||||
Net income (loss) attributable to Columbia Sportswear Company | (3,675 | ) | (8,405 | ) | 21,691 | 2,590 | |||||||||||
Earnings (loss) per share attributable to Columbia Sportswear Company: | |||||||||||||||||
Basic | $ | (0.11 | ) | $ | (0.24 | ) | $ | 0.62 | $ | 0.08 | |||||||
Diluted | (0.11 | ) | (0.24 | ) | 0.61 | 0.07 | |||||||||||
The unaudited pro forma financial information is presented for illustrative purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed on the date indicated, nor is it indicative of future operating results. The unaudited pro forma consolidated net income (loss) includes differences in the amount and timing of amortization of acquired intangible assets and the fair value adjustment for acquired inventory. As a result, under the assumed pro forma acquisition date of January 1, 2013, net income for the six months ended June 30, 2014 and 2013 includes pre-tax purchase accounting amortization of $1,908,000 and $7,008,000, respectively. The pro forma net income (loss) attributable to the Company excludes nonrecurring transaction costs of $3,374,000. The pro forma results also do not include, among other items, the effects of anticipated synergies from combining the two companies or differences in the combined Company's operating cost structure. |
NonControlling_Interest_NonCon
Non-Controlling Interest Non-Controlling Interest | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Non-controlling Interest | ' | ||||||||||||
NON-CONTROLLING INTEREST | |||||||||||||
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Limited ("Swire") to support the development and operation 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. The accounts of the joint venture are included in the Condensed Consolidated Balance Sheets as of June 30, 2014 and 2013, and December 31, 2013. Swire's share of net income (loss) from the joint venture is included in Net income (loss) attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2014 and 2013. The non-controlling equity interest in this entity is included in total equity as Non-controlling interest on the Condensed Consolidated Balance Sheets as of June 30, 2014 and 2013, and December 31, 2013. | |||||||||||||
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 2014 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
Balance at December 31, 2013 | $ | 1,245,418 | $ | 7,446 | $ | 1,252,864 | |||||||
Net income | 15,926 | 1,012 | 16,938 | ||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||
Unrealized holding gains on available-for-sale securities | 4 | — | 4 | ||||||||||
Derivative holding losses | (809 | ) | — | (809 | ) | ||||||||
Foreign currency translation adjustments | 3,520 | (464 | ) | 3,056 | |||||||||
Cash dividends ($0.56 per share) | (19,556 | ) | — | (19,556 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 16,136 | — | 16,136 | ||||||||||
Tax adjustment from stock plans | 4,124 | — | 4,124 | ||||||||||
Stock-based compensation expense | 5,208 | — | 5,208 | ||||||||||
Balance at June 30, 2014 | $ | 1,269,971 | $ | 7,994 | $ | 1,277,965 | |||||||
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 2013 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
Balance at December 31, 2012 | $ | 1,166,167 | $ | — | $ | 1,166,167 | |||||||
Net income (loss) | 3,025 | (253 | ) | 2,772 | |||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||
Unrealized holding gains on available-for-sale securities | 16 | — | 16 | ||||||||||
Derivative holding gains | 1,598 | — | 1,598 | ||||||||||
Foreign currency translation adjustments | (18,252 | ) | 78 | (18,174 | ) | ||||||||
Cash dividends ($0.44 per share) | (15,081 | ) | — | (15,081 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 9,031 | — | 9,031 | ||||||||||
Capital contribution from non-controlling interest | — | 8,000 | 8,000 | ||||||||||
Tax adjustment from stock plans | 845 | — | 845 | ||||||||||
Stock-based compensation expense | 4,282 | — | 4,282 | ||||||||||
Balance at June 30, 2013 | $ | 1,151,631 | $ | 7,825 | $ | 1,159,456 | |||||||
Inventories_Net
Inventories, Net | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Inventories, Net | ' | |||||||||||
INVENTORIES, NET | ||||||||||||
Inventories are carried at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company periodically reviews its inventory for excess, closeout and slow moving items and makes provisions as necessary to properly reflect inventory value. | ||||||||||||
Inventories, net, consisted of the following (in thousands): | ||||||||||||
June 30, | December 31, | June 30, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Raw materials | $ | 2,031 | $ | 1,130 | $ | 1,347 | ||||||
Work in process | 524 | 1,203 | 1,478 | |||||||||
Finished goods | 453,893 | 326,895 | 420,940 | |||||||||
$ | 456,448 | $ | 329,228 | $ | 423,765 | |||||||
Intangible_Assets_Net_and_Good
Intangible Assets, Net and Goodwill | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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, purchased technology, customer relationships and order backlog and are amortized over their estimated useful lives, which range from less than one year to approximately 10 years, and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. Goodwill and intangible assets with indefinite useful lives, including trademarks and trade names, are not amortized but are periodically evaluated for impairment. | ||||||||||||
Intangible assets | ||||||||||||
The following table summarizes the Company’s identifiable intangible assets balance (in thousands): | ||||||||||||
June 30, | December 31, | June 30, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Intangible assets subject to amortization: | ||||||||||||
Patents and purchased technology | $ | 14,198 | $ | 14,198 | $ | 14,198 | ||||||
Customer relationships | 23,000 | — | — | |||||||||
Order backlog | 3,500 | — | — | |||||||||
Gross carrying amount | 40,698 | 14,198 | 14,198 | |||||||||
Accumulated amortization: | ||||||||||||
Patents and purchased technology | (5,997 | ) | (5,331 | ) | (4,667 | ) | ||||||
Customer relationships | (318 | ) | — | — | ||||||||
Order backlog | (583 | ) | — | — | ||||||||
Total accumulated amortization | (6,898 | ) | (5,331 | ) | (4,667 | ) | ||||||
Net carrying amount | 33,800 | 8,867 | 9,531 | |||||||||
Intangible assets not subject to amortization | 115,421 | 27,421 | 27,421 | |||||||||
Intangible assets, net | $ | 149,221 | $ | 36,288 | $ | 36,952 | ||||||
Amortization expense for intangible assets subject to amortization was $1,234,000 and $333,000 for the three months ended June 30, 2014 and 2013, respectively, and was $1,567,000 and $665,000 for the six months ended June 30, 2014 and 2013, respectively. Annual amortization expense is estimated to be $7,056,000 in 2014, $5,147,000 in 2015 and 2016, $3,883,000 in 2017 and $2,980,000 in 2018. | ||||||||||||
Goodwill | ||||||||||||
Goodwill was $69,257,000 at June 30, 2014, and $14,438,000 at December 31, 2013 and June 30, 2013. The change in goodwill is related to the acquisition of prAna on May 30, 2014 (see Note 3). |
Product_Warranty
Product Warranty | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||||||||||
Product Warranty | ' | |||||||||||||||
PRODUCT WARRANTY | ||||||||||||||||
Some of the Company’s products carry limited warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company’s history of warranty repairs and replacements and is recorded in cost of sales. The warranty reserve is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. | ||||||||||||||||
A reconciliation of product warranties is as follows (in thousands): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at beginning of period | $ | 10,652 | $ | 9,683 | $ | 10,768 | $ | 10,209 | ||||||||
Provision for warranty claims | 673 | 1,269 | 2,154 | 2,784 | ||||||||||||
Warranty claims | (736 | ) | (1,236 | ) | (2,265 | ) | (3,170 | ) | ||||||||
Other | 91 | (51 | ) | 23 | (158 | ) | ||||||||||
Balance at end of period | $ | 10,680 | $ | 9,665 | $ | 10,680 | $ | 9,665 | ||||||||
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||||||
The Company’s Stock Incentive Plan (the “Plan”) allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units and other stock-based or cash-based awards. The majority of all stock options and restricted stock unit grants outstanding under the Plan were granted in the first quarter of each fiscal year. | |||||||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Stock options | $ | 862 | $ | 883 | $ | 1,743 | $ | 1,710 | |||||||||
Restricted stock units | 1,769 | 1,449 | 3,465 | 2,572 | |||||||||||||
Total | $ | 2,631 | $ | 2,332 | $ | 5,208 | $ | 4,282 | |||||||||
Stock Options | |||||||||||||||||
The Company estimates the fair value of stock options using the Black-Scholes model. Key inputs and assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, the expected stock price 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 following table presents the weighted average assumptions for stock options granted in the periods: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Expected option term | 7.82 years | 7.02 years | 4.71 years | 4.72 years | |||||||||||||
Expected stock price volatility | 28.63% | 28.54% | 27.67% | 30.80% | |||||||||||||
Risk-free interest rate | 2.29% | 1.55% | 1.21% | 0.69% | |||||||||||||
Expected annual dividend yield | 1.33% | 1.44% | 1.33% | 1.63% | |||||||||||||
Weighted average grant date fair value | $25.54 | $16.45 | $17.52 | $12.31 | |||||||||||||
During the six months ended June 30, 2014 and 2013, the Company granted a total of 236,288 and 327,979 stock options, respectively. At June 30, 2014, unrecognized costs related to outstanding stock options totaled approximately $7,208,000, before any related tax benefit. The unrecognized costs related to stock options are amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at June 30, 2014 are expected to be recognized over a weighted average period of 2.58 years. | |||||||||||||||||
Restricted Stock Units | |||||||||||||||||
The Company estimates the fair value of service-based and performance-based restricted stock units using the Black-Scholes model. Key inputs and assumptions used to estimate the fair value of restricted stock units include the vesting period, 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 restricted stock units granted in the periods: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Vesting period | 3.56 years | 3.07 years | 3.83 years | 3.93 years | |||||||||||||
Expected annual dividend yield | 1.34% | 1.44% | 1.33% | 1.60% | |||||||||||||
Estimated average grant date fair value per restricted stock unit | $79.82 | $58.67 | $78.16 | $51.78 | |||||||||||||
During the six months ended June 30, 2014 and 2013, the Company granted 131,921 and 144,477 restricted stock units, respectively. At June 30, 2014, unrecognized costs related to outstanding restricted stock units totaled approximately $16,168,000, 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 June 30, 2014 are expected to be recognized over a weighted average period of 2.58 years. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | |||||||||||||||||
Accumulated other comprehensive income, net of applicable taxes, reported on the Company’s Condensed Consolidated Balance Sheets consists of unrealized holding gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments. | |||||||||||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended June 30, 2014 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at March 31, 2014 | $ | (5 | ) | $ | 1,472 | $ | 28,742 | $ | 30,209 | ||||||||
Other comprehensive income (loss) before reclassifications | 3 | (634 | ) | 8,900 | 8,269 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (403 | ) | — | (403 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 3 | (1,037 | ) | 8,900 | 7,866 | ||||||||||||
Balance at June 30, 2014 | $ | (2 | ) | $ | 435 | $ | 37,642 | $ | 38,075 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended June 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at March 31, 2013 | $ | — | $ | 3,935 | $ | 31,510 | $ | 35,445 | |||||||||
Other comprehensive income (loss) before reclassifications | 7 | 727 | (5,595 | ) | (4,861 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (559 | ) | — | (559 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 7 | 168 | (5,595 | ) | (5,420 | ) | |||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the six months ended June 30, 2014 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2013 | $ | (6 | ) | $ | 1,244 | $ | 34,122 | $ | 35,360 | ||||||||
Other comprehensive income before reclassifications | 4 | 70 | 3,520 | 3,594 | |||||||||||||
Amounts reclassified from other comprehensive income | — | (879 | ) | — | (879 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 4 | (809 | ) | 3,520 | 2,715 | ||||||||||||
Balance at June 30, 2014 | $ | (2 | ) | $ | 435 | $ | 37,642 | $ | 38,075 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the six months ended June 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2012 | $ | (9 | ) | $ | 2,505 | $ | 44,167 | $ | 46,663 | ||||||||
Other comprehensive income (loss) before reclassifications | 16 | 2,880 | (18,252 | ) | (15,356 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (1,282 | ) | — | (1,282 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 16 | 1,598 | (18,252 | ) | (16,638 | ) | |||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
All reclassification adjustments related to derivative transactions are recorded in Cost of sales on the Condensed Consolidated Statements of Operations. See Note 12 for further information regarding derivative instrument reclassification adjustments. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
EARNINGS PER SHARE | ||||||||||||||||
Earnings per share (“EPS”) is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted stock units determined using the treasury stock method. | ||||||||||||||||
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted average shares of common stock outstanding, used in computing basic earnings per share | 34,958 | 34,353 | 34,834 | 34,260 | ||||||||||||
Effect of dilutive stock options and restricted stock units | — | — | 467 | 301 | ||||||||||||
Weighted average shares of common stock outstanding, used in computing diluted earnings per share | 34,958 | 34,353 | 35,301 | 34,561 | ||||||||||||
Earnings (loss) per share of common stock attributable to Columbia Sportswear Company: | ||||||||||||||||
Basic | $ | (0.18 | ) | $ | (0.21 | ) | $ | 0.46 | $ | 0.09 | ||||||
Diluted | (0.18 | ) | (0.21 | ) | 0.45 | 0.09 | ||||||||||
Stock options and service-based restricted stock units representing 1,754,376 and 2,120,277 shares of common stock for the three months ended June 30, 2014 and 2013, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive due to a net loss in the period. Stock options and service-based restricted stock units representing 168,356 and 626,608 shares of common stock for the six months ended June 30, 2014 and 2013, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 47,692 and 13,484 shares of common stock for the three months ended June 30, 2014 and 2013, respectively, and 39,373 and 13,484 shares of common stock for the six months ended June 30, 2014 and 2013, respectively, were outstanding but were excluded from the computation of diluted EPS because these shares were subject to performance conditions that had not been met. | ||||||||||||||||
Since the inception of the Company’s stock repurchase plan in 2004 through June 30, 2014, the Company’s Board of Directors has authorized the repurchase of $500,000,000 of the Company’s common stock. Shares of the Company’s common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions. The repurchase program does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time. As of June 30, 2014, the Company had repurchased 9,593,278 shares under this program at an aggregate purchase price of approximately $441,443,000. During the six months ended June 30, 2014 and 2013, the Company did not repurchase any shares of the Company's common stock. |
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
The Company operates in four geographic segments: (1) United States, (2) Latin America and Asia Pacific ("LAAP"), (3) Europe, Middle East and Africa (“EMEA”) and (4) Canada, which are reflective of the Company’s internal organization, management, and oversight structure. Each geographic segment operates predominantly in one industry: the design, development, marketing and distribution of active outdoor apparel, footwear, accessories and equipment. Intersegment net sales and intersegment profits, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. Unallocated corporate expenses consist of expenses incurred by centrally-managed departments, including global information systems, finance and legal, executive compensation, unallocated benefit program expense and other miscellaneous costs. | ||||||||||||||||
In the first quarter of 2014, the Company reclassified its segment reporting to reflect changes in its internal management and oversight structure. Certain marketing, product creation and administrative costs incurred by the Company’s corporate offices, previously included in the United States segment, have been allocated to other geographic regions based on relevant operational metrics. Other such costs not directly or indirectly allocable to regional segments are now shown below as unallocated corporate expenses. Prior year amounts have been adjusted to match current year presentation. | ||||||||||||||||
The geographic distribution of the Company’s net sales and income (loss) from operations are summarized in the following table (in thousands) for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net sales to unrelated entities: | ||||||||||||||||
United States | $ | 146,368 | $ | 139,789 | $ | 387,557 | $ | 340,287 | ||||||||
LAAP | 96,100 | 81,283 | 212,913 | 164,329 | ||||||||||||
EMEA | 72,949 | 53,034 | 112,089 | 93,954 | ||||||||||||
Canada | 8,829 | 6,389 | 35,771 | 30,232 | ||||||||||||
$ | 324,246 | $ | 280,495 | $ | 748,330 | $ | 628,802 | |||||||||
Segment income (loss) from operations: | ||||||||||||||||
United States | $ | 2,365 | $ | 5,415 | $ | 46,536 | $ | 30,962 | ||||||||
LAAP | 9,253 | 10,558 | 26,487 | 21,914 | ||||||||||||
EMEA | 5,797 | (1,558 | ) | 2,271 | (7,131 | ) | ||||||||||
Canada | (3,784 | ) | (4,050 | ) | (385 | ) | (547 | ) | ||||||||
Total segment income from operations | 13,631 | 10,365 | 74,909 | 45,198 | ||||||||||||
Unallocated corporate expenses | (30,620 | ) | (20,362 | ) | (56,447 | ) | (42,467 | ) | ||||||||
Interest income, net | 384 | 215 | 623 | 347 | ||||||||||||
Interest expense on note payable to related party | (277 | ) | — | (487 | ) | — | ||||||||||
Other non-operating expense | (149 | ) | (473 | ) | (505 | ) | (1,103 | ) | ||||||||
Income (loss) before income taxes | $ | (17,031 | ) | $ | (10,255 | ) | $ | 18,093 | $ | 1,975 | ||||||
Concentrations | ||||||||||||||||
The Company had one customer in its EMEA segment that accounted for approximately 16.7% of consolidated accounts receivable at June 30, 2014. The Company had two customers, one in its EMEA segment and one North American customer included in its United States and Canada segments, that accounted for approximately 12.4% and 11.2%, respectively, of consolidated accounts receivable at June 30, 2013. No single customer accounted for 10% or more of consolidated accounts receivable at December 31, 2013. The Company had one customer in its EMEA segment that accounted for approximately 12.1% and 10.4% of consolidated revenues for the three months ended June 30, 2014 and 2013, respectively. No customer accounted for 10% or more of consolidated revenues for the six months ended June 30, 2014 or 2013. |
Financial_Instruments_And_Risk
Financial Instruments And Risk Management | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ' | ||||||||||||||||||
Financial Instruments And Risk Management | ' | ||||||||||||||||||
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT | |||||||||||||||||||
In the normal course of business, the Company’s financial position and results of operations are routinely subject to a variety of risks. These risks include risks associated with financial markets, primarily currency exchange rate risk, and, to a lesser extent, interest rate risk and equity market risk. The Company regularly assesses these risks and has established policies and business practices designed to mitigate them. The Company does not engage in speculative trading in any financial market. | |||||||||||||||||||
The Company actively manages the risk of changes in functional currency equivalent cash flows resulting from anticipated U.S. dollar denominated inventory purchases by subsidiaries that use European euros, Canadian dollars, Japanese yen or Korean won as their functional currency. The Company manages this risk by using currency forward contracts formally designated and effective as cash flow hedges. Hedge effectiveness is determined by evaluating the ability of a hedging instrument’s cumulative change in fair value to offset the cumulative change in the present value of expected cash flows on the underlying exposures. For forward contracts, the change in fair value attributable to changes in forward points are excluded from the determination of hedge effectiveness and included in current cost of sales. Hedge ineffectiveness was not material during the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||
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): | |||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | $ | 127,000 | $ | 99,000 | $ | 71,500 | |||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | 63,500 | 109,000 | 77,000 | ||||||||||||||||
At June 30, 2014, approximately $522,000 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, Japanese yen and Korean won when outstanding derivative contracts mature. | |||||||||||||||||||
At June 30, 2014, the Company’s derivative contracts had a remaining maturity of approximately two years or less. All the counterparties to these transactions had both long-term and short-term investment grade credit ratings and as a result, the Company does not require collateral to facilitate transactions. The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was less than $1,000,000 at June 30, 2014. The Company does not hold derivatives featuring credit-related contingent terms. In addition, the Company is not a party to any derivative master agreement featuring credit-related contingent terms. Finally, the Company has not pledged assets or posted collateral as a requirement for entering into or maintaining derivative positions. | |||||||||||||||||||
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): | |||||||||||||||||||
Balance Sheet Classification | June 30, | December 31, | June 30, | ||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 986 | $ | 1,936 | $ | 2,516 | ||||||||||||
Currency forward contracts | Other non-current assets | 155 | 24 | 343 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 1,081 | 872 | 262 | |||||||||||||||
Currency forward contracts | Other long-term liabilities | 12 | 95 | — | |||||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 302 | 2,956 | 1,855 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 650 | 280 | 460 | |||||||||||||||
The following table presents the statement of operations effect and classification of derivative instruments (in thousands): | |||||||||||||||||||
Statement of | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||
Operations | |||||||||||||||||||
Classification | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Currency Forward Contracts: | |||||||||||||||||||
Derivative instruments designated | |||||||||||||||||||
as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in other comprehensive income or loss | — | $ | (634 | ) | $ | 727 | $ | 70 | $ | 2,880 | |||||||||
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion | Cost of sales | 690 | 766 | 1,499 | 1,626 | ||||||||||||||
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | (186 | ) | (2 | ) | (208 | ) | (45 | ) | ||||||||||
Derivative instruments not designated | |||||||||||||||||||
as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in income | Other non-operating expense | (506 | ) | 2,663 | (1,971 | ) | 6,012 | ||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Operating Leases | |
Future minimum operating lease payments for the remainder of the lives of the leases, including rent escalation clauses and stores that were not yet open, were $305,671,000 and $275,687,000 at June 30, 2014 and December 31, 2013, respectively. Operating lease obligations do not include percentage rent, real estate taxes, insurance, common area maintenance and other costs for which the Company is obligated. | |
Inventory Purchase Obligations | |
Inventory purchase obligations consist of open production purchase orders and other commitments for raw materials and sourced apparel, footwear, accessories and equipment. At June 30, 2014, inventory purchase obligations were $400,933,000. | |
Litigation | |
The Company is a party to various legal claims, actions and complaints from time to time. Although the ultimate resolution of legal proceedings cannot be predicted with certainty, management believes that disposition of these matters will not have a material adverse effect on the Company’s consolidated financial statements. |
Fair_Value_Measures
Fair Value Measures | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measures | ' | |||||||||||||||
FAIR VALUE MEASURES | ||||||||||||||||
Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: | ||||||||||||||||
Level 1 – | observable inputs such as quoted prices for identical assets or liabilities in active liquid markets; | |||||||||||||||
Level 2 – | inputs, other than the quoted market prices in active markets, that are observable, either directly or indirectly; or observable market prices in markets with insufficient volume and/or infrequent transactions; and | |||||||||||||||
Level 3 – | unobservable inputs for which there is little or no market data available, that require the reporting entity to | |||||||||||||||
develop its own assumptions. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at June 30, 2014 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 147,953 | $ | — | $ | — | $ | 147,953 | ||||||||
Time deposits | 25,148 | 14,824 | — | 39,972 | ||||||||||||
Reverse repurchase agreements | — | 40,000 | — | 40,000 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 3,429 | — | 3,429 | ||||||||||||
Variable-rate demand notes | — | 18,675 | — | 18,675 | ||||||||||||
U.S. Government-backed municipal bonds | — | 4,584 | — | 4,584 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual fund shares | 550 | — | — | 550 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 1,288 | — | 1,288 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 155 | — | 155 | ||||||||||||
Mutual fund shares | 5,749 | — | — | 5,749 | ||||||||||||
Total assets measured at fair value | $ | 179,400 | $ | 82,955 | $ | — | $ | 262,355 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | $ | — | $ | 1,731 | $ | — | $ | 1,731 | ||||||||
Other long-term liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 12 | — | 12 | ||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,743 | $ | — | $ | 1,743 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at 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 (1) | ||||||||||||||||
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 12) | — | 4,892 | — | 4,892 | ||||||||||||
Non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 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 12) | $ | — | $ | 1,152 | $ | — | $ | 1,152 | ||||||||
Other long-term liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 95 | — | 95 | ||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,247 | $ | — | $ | 1,247 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at June 30, 2013 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 186,245 | $ | — | $ | — | $ | 186,245 | ||||||||
Time deposits | 25,073 | 16,637 | — | 41,710 | ||||||||||||
U.S. Government-backed municipal bonds | — | 40,741 | — | 40,741 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 4,905 | — | 4,905 | ||||||||||||
Variable-rate demand notes | — | 56,615 | — | 56,615 | ||||||||||||
U.S. Government-backed municipal bonds | — | 28,004 | — | 28,004 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual funds shares | 657 | — | — | 657 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 4,371 | — | 4,371 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 343 | — | 343 | ||||||||||||
Mutual fund shares | 4,181 | — | — | 4,181 | ||||||||||||
Total assets measured at fair value | $ | 216,156 | $ | 151,616 | $ | — | $ | 367,772 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | $ | — | $ | 722 | $ | — | $ | 722 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 722 | $ | — | $ | 722 | ||||||||
(1) | Investments have remaining maturities greater than three months but less than two years and are available for use in current operations. | |||||||||||||||
Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions. | ||||||||||||||||
Non-recurring fair value measurements: | ||||||||||||||||
During the fourth quarter of 2013, the Company recorded an impairment in its EMEA segment for its European distribution center in Cambrai, France, writing the assets down to their estimated fair value of $19,300,000. 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 as of June 30, 2014 or 2013. |
Related_Party_Transactions_Rel
Related Party Transactions Related Party Transactions | 6 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
RELATED PARTY TRANSACTIONS | |
On January 1, 2014, the Company's previously announced majority-owned joint venture in mainland China commenced operations. Upon commencement, the joint venture entered into Transition Services Agreements ("TSAs") with Swire, the non-controlling shareholder in the joint venture, under which Swire renders administrative and IT services and operates certain retail stores on behalf of the joint venture. The joint venture incurred service fees, valued under the TSAs at Swire's cost, of $2,173,000 and $4,880,000 during the three and six months ended June 30, 2014, respectively. These fees are included in Selling, general and administrative expenses on the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2014. In addition, the joint venture pays Swire sourcing fees related to the purchase of certain inventory. These sourcing fees are capitalized into Inventories and charged to Cost of sales as the inventories are sold. For the three and six months ended June 30, 2014, the joint venture incurred sourcing fees of $8,000 and $293,000, respectively. | |
During the three months ended March 31, 2014, both the Company and Swire funded long-term loans to the joint venture. The Company's loan has been eliminated in consolidation, while the Swire loan is reflected as Note payable to related party on the Condensed Consolidated Balance Sheet as of June 30, 2014. The note with Swire, in the principal amount of 97,600,000 RMB (US$15,734,000), matures on December 31, 2018 and bears interest at a fixed annual rate of 7%. Interest expense related to this note was $277,000 and $487,000 for the three and six months ended June 30, 2014, respectively. | |
As of June 30, 2014, payables to Swire for service fees and interest expense totaled $5,044,000 and were included in Accounts payable on the Condensed Consolidated Balance Sheets. | |
In addition to the transactions described above, Swire is also a third-party distributor of the Company's brands in certain regions outside of mainland China and purchases products from the Company under the Company's normal third-party distributor terms and pricing. |
Subsequent_Event_Subsequent_Ev
Subsequent Event Subsequent Event | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENT | |
On July 24, 2014, the Company announced that its Board of Directors authorized a two-for-one split of the Company's common stock. The split will be paid in the form of a 100% stock dividend, payable on September 26, 2014 to shareholders of record on September 8, 2014. |
Business_Acquisition_Business_1
Business Acquisition Business Acquisition (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Schedule of Preliminary Estimated Fair Value Of Net Assets Acquired and Liabilities Assumed | ' | ||||||||||||||||
The following table summarizes the preliminary estimated fair value of the net assets acquired and liabilities assumed as of May 30, 2014, the acquisition date (in thousands): | |||||||||||||||||
30-May-14 | |||||||||||||||||
Cash | $ | 4,946 | |||||||||||||||
Accounts receivable | 10,021 | ||||||||||||||||
Inventories | 9,641 | ||||||||||||||||
Other current assets | 2,229 | ||||||||||||||||
Property, plant and equipment | 5,192 | ||||||||||||||||
Acquired intangible assets | 114,500 | ||||||||||||||||
Other non-current assets | 258 | ||||||||||||||||
Total assets acquired | 146,787 | ||||||||||||||||
Accounts payable | 2,803 | ||||||||||||||||
Other current liabilities | 5,390 | ||||||||||||||||
Total liabilities assumed | 8,193 | ||||||||||||||||
Net identifiable assets acquired | 138,594 | ||||||||||||||||
Goodwill | 54,819 | ||||||||||||||||
Net assets acquired | $ | 193,413 | |||||||||||||||
Schedule of Identifiable Intangible Assets Acquired And Their Estimated Useful Lives as Part of Business Combination | ' | ||||||||||||||||
The following table sets forth the components of identifiable intangible assets and their estimated useful lives as of May 30, 2014, the acquisition date (in thousands, except for estimated useful lives, in years): | |||||||||||||||||
Estimated fair value | Estimated useful life, in years | ||||||||||||||||
Trade name | $ | 88,000 | Indefinite | ||||||||||||||
Customer relationships | 23,000 | 3-10 years | |||||||||||||||
Order backlog | 3,500 | Less than 1 year | |||||||||||||||
Total | $ | 114,500 | |||||||||||||||
Schedule of Pro Forma Information | ' | ||||||||||||||||
The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of prAna had occurred on January 1, 2013 (in thousands): | |||||||||||||||||
(Unaudited) | |||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net sales | $ | 337,328 | $ | 296,518 | $ | 791,763 | $ | 671,424 | |||||||||
Net income (loss) attributable to Columbia Sportswear Company | (3,675 | ) | (8,405 | ) | 21,691 | 2,590 | |||||||||||
Earnings (loss) per share attributable to Columbia Sportswear Company: | |||||||||||||||||
Basic | $ | (0.11 | ) | $ | (0.24 | ) | $ | 0.62 | $ | 0.08 | |||||||
Diluted | (0.11 | ) | (0.24 | ) | 0.61 | 0.07 | |||||||||||
NonControlling_Interest_NonCon1
Non-Controlling Interest Non-Controlling Interest (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Schedule of Equity | ' | ||||||||||||
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 2014 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
Balance at December 31, 2013 | $ | 1,245,418 | $ | 7,446 | $ | 1,252,864 | |||||||
Net income | 15,926 | 1,012 | 16,938 | ||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||
Unrealized holding gains on available-for-sale securities | 4 | — | 4 | ||||||||||
Derivative holding losses | (809 | ) | — | (809 | ) | ||||||||
Foreign currency translation adjustments | 3,520 | (464 | ) | 3,056 | |||||||||
Cash dividends ($0.56 per share) | (19,556 | ) | — | (19,556 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 16,136 | — | 16,136 | ||||||||||
Tax adjustment from stock plans | 4,124 | — | 4,124 | ||||||||||
Stock-based compensation expense | 5,208 | — | 5,208 | ||||||||||
Balance at June 30, 2014 | $ | 1,269,971 | $ | 7,994 | $ | 1,277,965 | |||||||
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 2013 (in thousands): | |||||||||||||
Columbia Sportswear Company | Non-Controlling Interest | Total | |||||||||||
Balance at December 31, 2012 | $ | 1,166,167 | $ | — | $ | 1,166,167 | |||||||
Net income (loss) | 3,025 | (253 | ) | 2,772 | |||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||
Unrealized holding gains on available-for-sale securities | 16 | — | 16 | ||||||||||
Derivative holding gains | 1,598 | — | 1,598 | ||||||||||
Foreign currency translation adjustments | (18,252 | ) | 78 | (18,174 | ) | ||||||||
Cash dividends ($0.44 per share) | (15,081 | ) | — | (15,081 | ) | ||||||||
Issuance of common stock under employee stock plans, net | 9,031 | — | 9,031 | ||||||||||
Capital contribution from non-controlling interest | — | 8,000 | 8,000 | ||||||||||
Tax adjustment from stock plans | 845 | — | 845 | ||||||||||
Stock-based compensation expense | 4,282 | — | 4,282 | ||||||||||
Balance at June 30, 2013 | $ | 1,151,631 | $ | 7,825 | $ | 1,159,456 | |||||||
Inventories_Net_Tables
Inventories, Net (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Schedule Of Inventories | ' | |||||||||||
Inventories, net, consisted of the following (in thousands): | ||||||||||||
June 30, | December 31, | June 30, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Raw materials | $ | 2,031 | $ | 1,130 | $ | 1,347 | ||||||
Work in process | 524 | 1,203 | 1,478 | |||||||||
Finished goods | 453,893 | 326,895 | 420,940 | |||||||||
$ | 456,448 | $ | 329,228 | $ | 423,765 | |||||||
Intangible_Assets_Net_and_Good1
Intangible Assets, Net and Goodwill (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Summary Of Identifiable Intangible Assets | ' | |||||||||||
The following table summarizes the Company’s identifiable intangible assets balance (in thousands): | ||||||||||||
June 30, | December 31, | June 30, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Intangible assets subject to amortization: | ||||||||||||
Patents and purchased technology | $ | 14,198 | $ | 14,198 | $ | 14,198 | ||||||
Customer relationships | 23,000 | — | — | |||||||||
Order backlog | 3,500 | — | — | |||||||||
Gross carrying amount | 40,698 | 14,198 | 14,198 | |||||||||
Accumulated amortization: | ||||||||||||
Patents and purchased technology | (5,997 | ) | (5,331 | ) | (4,667 | ) | ||||||
Customer relationships | (318 | ) | — | — | ||||||||
Order backlog | (583 | ) | — | — | ||||||||
Total accumulated amortization | (6,898 | ) | (5,331 | ) | (4,667 | ) | ||||||
Net carrying amount | 33,800 | 8,867 | 9,531 | |||||||||
Intangible assets not subject to amortization | 115,421 | 27,421 | 27,421 | |||||||||
Intangible assets, net | $ | 149,221 | $ | 36,288 | $ | 36,952 | ||||||
Product_Warranty_Tables
Product Warranty (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||||||||||
Reconciliation Of Product Warranties | ' | |||||||||||||||
A reconciliation of product warranties is as follows (in thousands): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at beginning of period | $ | 10,652 | $ | 9,683 | $ | 10,768 | $ | 10,209 | ||||||||
Provision for warranty claims | 673 | 1,269 | 2,154 | 2,784 | ||||||||||||
Warranty claims | (736 | ) | (1,236 | ) | (2,265 | ) | (3,170 | ) | ||||||||
Other | 91 | (51 | ) | 23 | (158 | ) | ||||||||||
Balance at end of period | $ | 10,680 | $ | 9,665 | $ | 10,680 | $ | 9,665 | ||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||
Schedule Of Stock-Based Compensation Expense | ' | ||||||||||||||||
Stock-based compensation expense consisted of the following (in thousands): | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Stock options | $ | 862 | $ | 883 | $ | 1,743 | $ | 1,710 | |||||||||
Restricted stock units | 1,769 | 1,449 | 3,465 | 2,572 | |||||||||||||
Total | $ | 2,631 | $ | 2,332 | $ | 5,208 | $ | 4,282 | |||||||||
Schedule Of Weighted Average Assumptions | ' | ||||||||||||||||
The following table presents the weighted average assumptions for stock options granted in the periods: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Expected option term | 7.82 years | 7.02 years | 4.71 years | 4.72 years | |||||||||||||
Expected stock price volatility | 28.63% | 28.54% | 27.67% | 30.80% | |||||||||||||
Risk-free interest rate | 2.29% | 1.55% | 1.21% | 0.69% | |||||||||||||
Expected annual dividend yield | 1.33% | 1.44% | 1.33% | 1.63% | |||||||||||||
Weighted average grant date fair value | $25.54 | $16.45 | $17.52 | $12.31 | |||||||||||||
Schedule Of Weighted Average Assumptions For Restricted Stock Units | ' | ||||||||||||||||
The following table presents the weighted average assumptions for restricted stock units granted in the periods: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Vesting period | 3.56 years | 3.07 years | 3.83 years | 3.93 years | |||||||||||||
Expected annual dividend yield | 1.34% | 1.44% | 1.33% | 1.60% | |||||||||||||
Estimated average grant date fair value per restricted stock unit | $79.82 | $58.67 | $78.16 | $51.78 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income, Net Of Related Tax Effects | ' | ||||||||||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended June 30, 2014 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at March 31, 2014 | $ | (5 | ) | $ | 1,472 | $ | 28,742 | $ | 30,209 | ||||||||
Other comprehensive income (loss) before reclassifications | 3 | (634 | ) | 8,900 | 8,269 | ||||||||||||
Amounts reclassified from other comprehensive income | — | (403 | ) | — | (403 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 3 | (1,037 | ) | 8,900 | 7,866 | ||||||||||||
Balance at June 30, 2014 | $ | (2 | ) | $ | 435 | $ | 37,642 | $ | 38,075 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the three months ended June 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at March 31, 2013 | $ | — | $ | 3,935 | $ | 31,510 | $ | 35,445 | |||||||||
Other comprehensive income (loss) before reclassifications | 7 | 727 | (5,595 | ) | (4,861 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (559 | ) | — | (559 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 7 | 168 | (5,595 | ) | (5,420 | ) | |||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the six months ended June 30, 2014 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2013 | $ | (6 | ) | $ | 1,244 | $ | 34,122 | $ | 35,360 | ||||||||
Other comprehensive income before reclassifications | 4 | 70 | 3,520 | 3,594 | |||||||||||||
Amounts reclassified from other comprehensive income | — | (879 | ) | — | (879 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 4 | (809 | ) | 3,520 | 2,715 | ||||||||||||
Balance at June 30, 2014 | $ | (2 | ) | $ | 435 | $ | 37,642 | $ | 38,075 | ||||||||
The following table sets forth the changes in accumulated other comprehensive income attributable to Columbia Sportswear Company, net of tax, for the six months ended June 30, 2013 (in thousands): | |||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | Unrealized holding gains (losses) on derivative transactions | Foreign currency translation adjustments | Total | ||||||||||||||
Balance at December 31, 2012 | $ | (9 | ) | $ | 2,505 | $ | 44,167 | $ | 46,663 | ||||||||
Other comprehensive income (loss) before reclassifications | 16 | 2,880 | (18,252 | ) | (15,356 | ) | |||||||||||
Amounts reclassified from other comprehensive income | — | (1,282 | ) | — | (1,282 | ) | |||||||||||
Net other comprehensive income (loss) during the period | 16 | 1,598 | (18,252 | ) | (16,638 | ) | |||||||||||
Balance at June 30, 2013 | $ | 7 | $ | 4,103 | $ | 25,915 | $ | 30,025 | |||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS | ' | |||||||||||||||
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted average shares of common stock outstanding, used in computing basic earnings per share | 34,958 | 34,353 | 34,834 | 34,260 | ||||||||||||
Effect of dilutive stock options and restricted stock units | — | — | 467 | 301 | ||||||||||||
Weighted average shares of common stock outstanding, used in computing diluted earnings per share | 34,958 | 34,353 | 35,301 | 34,561 | ||||||||||||
Earnings (loss) per share of common stock attributable to Columbia Sportswear Company: | ||||||||||||||||
Basic | $ | (0.18 | ) | $ | (0.21 | ) | $ | 0.46 | $ | 0.09 | ||||||
Diluted | (0.18 | ) | (0.21 | ) | 0.45 | 0.09 | ||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Schedule Of Segment Information | ' | |||||||||||||||
The geographic distribution of the Company’s net sales and income (loss) from operations are summarized in the following table (in thousands) for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net sales to unrelated entities: | ||||||||||||||||
United States | $ | 146,368 | $ | 139,789 | $ | 387,557 | $ | 340,287 | ||||||||
LAAP | 96,100 | 81,283 | 212,913 | 164,329 | ||||||||||||
EMEA | 72,949 | 53,034 | 112,089 | 93,954 | ||||||||||||
Canada | 8,829 | 6,389 | 35,771 | 30,232 | ||||||||||||
$ | 324,246 | $ | 280,495 | $ | 748,330 | $ | 628,802 | |||||||||
Segment income (loss) from operations: | ||||||||||||||||
United States | $ | 2,365 | $ | 5,415 | $ | 46,536 | $ | 30,962 | ||||||||
LAAP | 9,253 | 10,558 | 26,487 | 21,914 | ||||||||||||
EMEA | 5,797 | (1,558 | ) | 2,271 | (7,131 | ) | ||||||||||
Canada | (3,784 | ) | (4,050 | ) | (385 | ) | (547 | ) | ||||||||
Total segment income from operations | 13,631 | 10,365 | 74,909 | 45,198 | ||||||||||||
Unallocated corporate expenses | (30,620 | ) | (20,362 | ) | (56,447 | ) | (42,467 | ) | ||||||||
Interest income, net | 384 | 215 | 623 | 347 | ||||||||||||
Interest expense on note payable to related party | (277 | ) | — | (487 | ) | — | ||||||||||
Other non-operating expense | (149 | ) | (473 | ) | (505 | ) | (1,103 | ) | ||||||||
Income (loss) before income taxes | $ | (17,031 | ) | $ | (10,255 | ) | $ | 18,093 | $ | 1,975 | ||||||
Financial_Instruments_And_Risk1
Financial Instruments And Risk Management (Tables) | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ' | ||||||||||||||||||
Gross Notional Amount Of Outstanding Derivative Instruments | ' | ||||||||||||||||||
The following table presents the gross notional amount of outstanding derivative instruments (in thousands): | |||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | $ | 127,000 | $ | 99,000 | $ | 71,500 | |||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Currency forward contracts | 63,500 | 109,000 | 77,000 | ||||||||||||||||
Balance Sheet Classification And Fair Value Of Derivative Instruments | ' | ||||||||||||||||||
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): | |||||||||||||||||||
Balance Sheet Classification | June 30, | December 31, | June 30, | ||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||
Derivative instruments designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | $ | 986 | $ | 1,936 | $ | 2,516 | ||||||||||||
Currency forward contracts | Other non-current assets | 155 | 24 | 343 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 1,081 | 872 | 262 | |||||||||||||||
Currency forward contracts | Other long-term liabilities | 12 | 95 | — | |||||||||||||||
Derivative instruments not designated as cash flow hedges: | |||||||||||||||||||
Derivative instruments in asset positions: | |||||||||||||||||||
Currency forward contracts | Prepaid expenses and other current assets | 302 | 2,956 | 1,855 | |||||||||||||||
Derivative instruments in liability positions: | |||||||||||||||||||
Currency forward contracts | Accrued liabilities | 650 | 280 | 460 | |||||||||||||||
Statement of Operations Effect and Classification of Derivative Instruments | ' | ||||||||||||||||||
The following table presents the statement of operations effect and classification of derivative instruments (in thousands): | |||||||||||||||||||
Statement of | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||
Operations | |||||||||||||||||||
Classification | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Currency Forward Contracts: | |||||||||||||||||||
Derivative instruments designated | |||||||||||||||||||
as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in other comprehensive income or loss | — | $ | (634 | ) | $ | 727 | $ | 70 | $ | 2,880 | |||||||||
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion | Cost of sales | 690 | 766 | 1,499 | 1,626 | ||||||||||||||
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales | (186 | ) | (2 | ) | (208 | ) | (45 | ) | ||||||||||
Derivative instruments not designated | |||||||||||||||||||
as cash flow hedges: | |||||||||||||||||||
Gain (loss) recognized in income | Other non-operating expense | (506 | ) | 2,663 | (1,971 | ) | 6,012 | ||||||||||||
Fair_Value_Measures_Tables
Fair Value Measures (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at June 30, 2014 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 147,953 | $ | — | $ | — | $ | 147,953 | ||||||||
Time deposits | 25,148 | 14,824 | — | 39,972 | ||||||||||||
Reverse repurchase agreements | — | 40,000 | — | 40,000 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 3,429 | — | 3,429 | ||||||||||||
Variable-rate demand notes | — | 18,675 | — | 18,675 | ||||||||||||
U.S. Government-backed municipal bonds | — | 4,584 | — | 4,584 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual fund shares | 550 | — | — | 550 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 1,288 | — | 1,288 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 155 | — | 155 | ||||||||||||
Mutual fund shares | 5,749 | — | — | 5,749 | ||||||||||||
Total assets measured at fair value | $ | 179,400 | $ | 82,955 | $ | — | $ | 262,355 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | $ | — | $ | 1,731 | $ | — | $ | 1,731 | ||||||||
Other long-term liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 12 | — | 12 | ||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,743 | $ | — | $ | 1,743 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at 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 (1) | ||||||||||||||||
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 12) | — | 4,892 | — | 4,892 | ||||||||||||
Non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 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 12) | $ | — | $ | 1,152 | $ | — | $ | 1,152 | ||||||||
Other long-term liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 95 | — | 95 | ||||||||||||
Total liabilities measured at fair value | $ | — | $ | 1,247 | $ | — | $ | 1,247 | ||||||||
Assets and liabilities measured at fair value on a recurring basis at June 30, 2013 are as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | ||||||||||||||||
Money market funds | $ | 186,245 | $ | — | $ | — | $ | 186,245 | ||||||||
Time deposits | 25,073 | 16,637 | — | 41,710 | ||||||||||||
U.S. Government-backed municipal bonds | — | 40,741 | — | 40,741 | ||||||||||||
Available-for-sale short-term investments (1) | ||||||||||||||||
Certificates of deposit | — | 4,905 | — | 4,905 | ||||||||||||
Variable-rate demand notes | — | 56,615 | — | 56,615 | ||||||||||||
U.S. Government-backed municipal bonds | — | 28,004 | — | 28,004 | ||||||||||||
Other short-term investments | ||||||||||||||||
Mutual funds shares | 657 | — | — | 657 | ||||||||||||
Other current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 4,371 | — | 4,371 | ||||||||||||
Other non-current assets | ||||||||||||||||
Derivative financial instruments (Note 12) | — | 343 | — | 343 | ||||||||||||
Mutual fund shares | 4,181 | — | — | 4,181 | ||||||||||||
Total assets measured at fair value | $ | 216,156 | $ | 151,616 | $ | — | $ | 367,772 | ||||||||
Liabilities: | ||||||||||||||||
Accrued liabilities | ||||||||||||||||
Derivative financial instruments (Note 12) | $ | — | $ | 722 | $ | — | $ | 722 | ||||||||
Total liabilities measured at fair value | $ | — | $ | 722 | $ | — | $ | 722 | ||||||||
(1) | Investments have remaining maturities greater than three months but less than two years and are available for use in current operations. |
Business_Acquisition_Business_2
Business Acquisition Business Acquisition (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | 30-May-14 | Dec. 31, 2013 | |
Business Combinations [Abstract] | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | 100.00% | ' |
Payments to Acquire Businesses, Net of Cash Acquired | ' | $188,467,000 | $0 | ' | ' |
Business Combination, Revenue of Acquiree since Acquisition Date | ' | 5,547,000 | ' | ' | ' |
Business Combination, Earnings or Loss of Acquiree since Acquisition Date | ' | -1,065,000 | ' | ' | ' |
Business Combination, Acquisition Related Costs | 3,374,000 | 3,374,000 | ' | ' | ' |
Goodwill | 69,257,000 | 69,257,000 | 14,438,000 | ' | 14,438,000 |
prAna Living LLC [Member] | ' | ' | ' | ' | ' |
Business Combinations [Abstract] | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 4,946,000 | 4,946,000 | ' | ' | ' |
Goodwill | $54,819,000 | $54,819,000 | ' | ' | ' |
Business_Acquisition_Business_3
Business Acquisition Business Acquisition (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Business Acquisition [Line Items] | ' | ' | ' |
Goodwill | $69,257,000 | $14,438,000 | $14,438,000 |
prAna Living LLC [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Cash | 4,946,000 | ' | ' |
Accounts receivable | 10,021,000 | ' | ' |
Inventories | 9,641,000 | ' | ' |
Other current assets | 2,229,000 | ' | ' |
Property, plant and equipment | 5,192,000 | ' | ' |
Acquired intangible assets | 114,500,000 | ' | ' |
Other non-current assets | 258,000 | ' | ' |
Total assets acquired | 146,787,000 | ' | ' |
Accounts payable | 2,803,000 | ' | ' |
Other current liabilities | 5,390,000 | ' | ' |
Total liabilities assumed | 8,193,000 | ' | ' |
Net identifiable assets acquired | 138,594,000 | ' | ' |
Goodwill | 54,819,000 | ' | ' |
Net assets acquired | $193,413,000 | ' | ' |
Business_Acquisition_Business_4
Business Acquisition Business Acquisition (Schedule of Identifiable Intangible Assets Acquired as Part of Business Combination) (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Finite-lived Intangible Assets Acquired | $114,500 |
Minimum [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life | '1 year |
Maximum [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life | '10 years |
Trade Name [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Indefinite-lived Intangible Assets Acquired | 88,000 |
Customer Relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Finite-lived Intangible Assets Acquired | 23,000 |
Customer Relationships [Member] | Minimum [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life | '3 years |
Customer Relationships [Member] | Maximum [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life | '10 years |
Order Backlog [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Finite-lived Intangible Assets Acquired | $3,500 |
Estimated useful life | '1 year |
Business_Acquisition_Business_5
Business Acquisition Business Acquisition (Schedule of Pro Forma Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Business Combinations [Abstract] | ' | ' | ' | ' |
Pro forma net sales | $337,328 | $296,518 | $791,763 | $671,424 |
Pro forma net income (loss) | ($3,675) | ($8,405) | $21,691 | $2,590 |
Earnings (loss) per share | ' | ' | ' | ' |
Pro forma earnings (loss) per share, basic | ($0.11) | ($0.24) | $0.62 | $0.08 |
Pro forma earnings (loss) per share, diluted | ($0.11) | ($0.24) | $0.61 | $0.07 |
Business_Acquisition_Business_6
Business Acquisition Business Acquisition (Schedule of Non-Recurring Pro Forma adjustments) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' | ' | ' |
Amortization of Intangible Assets | $1,234,000 | $333,000 | $1,567,000 | $665,000 |
Amortization of acquired intangible assets and fair value adjustment inventory [Member] | ' | ' | ' | ' |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' | ' | ' |
Amortization of Intangible Assets | ' | ' | $1,908,000 | $7,008,000 |
NonControlling_Interest_NonCon2
Non-Controlling Interest Non-Controlling Interest (Narrative) (Details) | Jun. 30, 2014 |
Noncontrolling Interest [Line Items] | ' |
Non-controlling Interest, Ownership Percentage by Parent | 60.00% |
NonControlling_Interest_NonCon3
Non-Controlling Interest Non-Controlling Interest (Schedule of Equity) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | $1,252,864 | $1,166,167 |
Net income (loss) | -6,738 | -7,330 | 16,938 | 2,772 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities | 3 | 7 | 4 | 16 |
Derivative holding gains (losses) | -1,037 | 168 | -809 | 1,598 |
Foreign currency translation adjustments | 8,934 | -5,517 | 3,056 | -18,174 |
Cash dividends | ' | ' | -19,556 | -15,081 |
Issuance of common stock under employee stock plans, net | ' | ' | 16,136 | 9,031 |
Capital contribution from non-controlling interest | ' | ' | ' | 8,000 |
Tax adjustment from stock plans | ' | ' | 4,124 | 845 |
Stock-based compensation expense | ' | ' | 5,208 | 4,282 |
Balance, end of period | 1,277,965 | 1,159,456 | 1,277,965 | 1,159,456 |
Parent [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | 1,245,418 | 1,166,167 |
Net income (loss) | ' | ' | 15,926 | 3,025 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities | ' | ' | 4 | 16 |
Derivative holding gains (losses) | ' | ' | -809 | 1,598 |
Foreign currency translation adjustments | ' | ' | 3,520 | -18,252 |
Cash dividends | ' | ' | -19,556 | -15,081 |
Issuance of common stock under employee stock plans, net | ' | ' | 16,136 | 9,031 |
Capital contribution from non-controlling interest | ' | ' | ' | 0 |
Tax adjustment from stock plans | ' | ' | 4,124 | 845 |
Stock-based compensation expense | ' | ' | 5,208 | 4,282 |
Balance, end of period | 1,269,971 | 1,151,631 | 1,269,971 | 1,151,631 |
Cash dividends paid per share | ' | ' | $0.56 | $0.44 |
Non-controlling Interest [Member] | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | 7,446 | 0 |
Net income (loss) | ' | ' | 1,012 | -253 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities | ' | ' | 0 | 0 |
Derivative holding gains (losses) | ' | ' | 0 | 0 |
Foreign currency translation adjustments | ' | ' | -464 | 78 |
Cash dividends | ' | ' | 0 | 0 |
Issuance of common stock under employee stock plans, net | ' | ' | 0 | 0 |
Capital contribution from non-controlling interest | ' | ' | ' | 8,000 |
Tax adjustment from stock plans | ' | ' | 0 | 0 |
Stock-based compensation expense | ' | ' | 0 | 0 |
Balance, end of period | $7,994 | $7,825 | $7,994 | $7,825 |
Inventories_Net_Schedule_Of_In
Inventories, Net (Schedule Of Inventories, Net) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Inventory, Net [Abstract] | ' | ' | ' |
Raw materials | $2,031 | $1,130 | $1,347 |
Work in process | 524 | 1,203 | 1,478 |
Finished goods | 453,893 | 326,895 | 420,940 |
Inventory | $456,448 | $329,228 | $423,765 |
Intangible_Assets_Net_and_Good2
Intangible Assets, Net and Goodwill (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | $1,234,000 | $333,000 | $1,567,000 | $665,000 | ' |
Estimated annual amortization expense for intangible assets subject to amortization, 2014 | 7,056,000 | ' | 7,056,000 | ' | ' |
Estimated annual amortization expense for intangible assets subject to amortization, 2015 | 5,147,000 | ' | 5,147,000 | ' | ' |
Estimated annual amortization expense for intangible assets subject to amortization, 2016 | 5,147,000 | ' | 5,147,000 | ' | ' |
Estimated annual amortization expense for intangible assets subject to amortization, 2017 | 3,883,000 | ' | 3,883,000 | ' | ' |
Estimated annual amortization expense for intangible assets subject to amortization, 2018 | 2,980,000 | ' | 2,980,000 | ' | ' |
Goodwill | $69,257,000 | $14,438,000 | $69,257,000 | $14,438,000 | $14,438,000 |
Minimum [Member] | ' | ' | ' | ' | ' |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | '1 year | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | '10 years | ' | ' |
Intangible_Assets_Net_and_Good3
Intangible Assets, Net and Goodwill (Summary Of Identifiable Intangible Assets) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets subject to amortization, Gross carrying amount | $40,698 | $14,198 | $14,198 |
Intangible assets subject to amortization, Accumulated amortization | -6,898 | -5,331 | -4,667 |
Intangible assets subject to amortization, Net carrying amount | 33,800 | 8,867 | 9,531 |
Intangible assets not subject to amortization | 115,421 | 27,421 | 27,421 |
Intangible assets, net | 149,221 | 36,288 | 36,952 |
Patents And Purchased Technology [Member] | ' | ' | ' |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets subject to amortization, Gross carrying amount | 14,198 | 14,198 | 14,198 |
Intangible assets subject to amortization, Accumulated amortization | -5,997 | -5,331 | -4,667 |
Customer Relationships [Member] | ' | ' | ' |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets subject to amortization, Gross carrying amount | 23,000 | 0 | 0 |
Intangible assets subject to amortization, Accumulated amortization | -318 | 0 | 0 |
Order Backlog [Member] | ' | ' | ' |
Summary of Identifiable Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets subject to amortization, Gross carrying amount | 3,500 | 0 | 0 |
Intangible assets subject to amortization, Accumulated amortization | ($583) | $0 | $0 |
Product_Warranty_Reconciliatio
Product Warranty (Reconciliation Of Product Warranties) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reconciliation of Product Warranty Accrual [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | $10,652 | $9,683 | $10,768 | $10,209 |
Provision for warranty claims | 673 | 1,269 | 2,154 | 2,784 |
Warranty claims | -736 | -1,236 | -2,265 | -3,170 |
Other | 91 | -51 | 23 | -158 |
Balance at end of period | $10,680 | $9,665 | $10,680 | $9,665 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Restricted Stock Units [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Unrecognized costs related to share based compensation | $16,168,000 | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 6 months 28 days | ' |
Restricted stock units granted (in shares) | 131,921 | 144,477 |
Employee Stock Options [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Stock options granted (in shares) | 236,288 | 327,979 |
Unrecognized costs related to share based compensation | $7,208,000 | ' |
Weighted average period of recognition of unrecognized costs related to stock options, years | '2 years 6 months 28 days | ' |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $2,631 | $2,332 | $5,208 | $4,282 |
Employee Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 862 | 883 | 1,743 | 1,710 |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $1,769 | $1,449 | $3,465 | $2,572 |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule Of Weighted Average Assumptions) (Details) (Stock Option [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected term, years | '7 years 9 months 25 days | '7 years 7 days | '4 years 8 months 15 days | '4 years 8 months 19 days |
Expected stock price volatility | 28.63% | 28.54% | 27.67% | 30.80% |
Risk-free interest rate | 2.29% | 1.55% | 1.21% | 0.69% |
Expected dividend yield | 1.33% | 1.44% | 1.33% | 1.63% |
Weighted average grant date fair value (in dollars per share) | $25.54 | $16.45 | $17.52 | $12.31 |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule Of Weighted Average Assumptions For Restricted Stock Units) (Details) (Restricted Stock Units [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Vesting period, years | '3 years 6 months 21 days | '3 years 25 days | '3 years 10 months | '3 years 11 months 5 days |
Expected dividend yield | 1.34% | 1.44% | 1.33% | 1.60% |
Estimated average grant date fair value per restricted stock unit (in dollars per share) | $79.82 | $58.67 | $78.16 | $51.78 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss) at beginning of period | $30,209 | $35,445 | $35,360 | $46,663 |
Other comprehensive income (loss) before reclassifications | 8,269 | -4,861 | 3,594 | -15,356 |
Amounts reclassified from other comprehensive income | -403 | -559 | -879 | -1,282 |
Net other comprehensive income (loss) during the period | 7,866 | -5,420 | 2,715 | -16,638 |
Accumulated other comprehensive income at end of period | 38,075 | 30,025 | 38,075 | 30,025 |
Unrealized Gains (Losses) on Available-For-Sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss) at beginning of period | -5 | 0 | -6 | -9 |
Other comprehensive income (loss) before reclassifications | 3 | 7 | 4 | 16 |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 3 | 7 | 4 | 16 |
Accumulated other comprehensive income at end of period | -2 | 7 | -2 | 7 |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss) at beginning of period | 1,472 | 3,935 | 1,244 | 2,505 |
Other comprehensive income (loss) before reclassifications | -634 | 727 | 70 | 2,880 |
Amounts reclassified from other comprehensive income | -403 | -559 | -879 | -1,282 |
Net other comprehensive income (loss) during the period | -1,037 | 168 | -809 | 1,598 |
Accumulated other comprehensive income at end of period | 435 | 4,103 | 435 | 4,103 |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss) at beginning of period | 28,742 | 31,510 | 34,122 | 44,167 |
Other comprehensive income (loss) before reclassifications | 8,900 | -5,595 | 3,520 | -18,252 |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 8,900 | -5,595 | 3,520 | -18,252 |
Accumulated other comprehensive income at end of period | $37,642 | $25,915 | $37,642 | $25,915 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Stock repurchase plan, authorized amount | ' | ' | 500,000,000 | ' |
Aggregate shares repurchased under stock repurchase plan (in shares) | ' | ' | 9,593,278 | ' |
Stock purchase value | ' | ' | 441,443,000 | ' |
Stock Options And Service-Based Restricted Stock Units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, number of shares | 1,754,376 | 2,120,277 | 168,356 | 626,608 |
Performance-Based Restricted Stock Units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, number of shares | 47,692 | 13,484 | 39,373 | 13,484 |
Earnings_Per_Share_Reconciliat
Earnings Per Share (Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted average shares of common stock outstanding, used in computing basic earnings per share (in shares) | 34,958 | 34,353 | 34,834 | 34,260 |
Effect of dilutive stock options and restricted stock units (in shares) | 0 | 0 | 467 | 301 |
Weighted-average shares of common stock outstanding, used in computing diluted earnings per share (in shares) | 34,958 | 34,353 | 35,301 | 34,561 |
Earnings per share of common stock: | ' | ' | ' | ' |
Earnings (loss) per share of common stock, Basic (in dollars per share) | ($0.18) | ($0.21) | $0.46 | $0.09 |
Earnings (loss) per share of common stock, Diluted (in dollars per share) | ($0.18) | ($0.21) | $0.45 | $0.09 |
Segment_Information_Segment_In
Segment Information Segment Information (Narrative) (Details) | 6 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | |
EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | United States and Canada [Member] | |
Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | Accounts Receivable [Member] | |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | 16.70% | 12.40% | 12.10% | 10.40% | 11.20% |
Segment_Information_Schedule_O
Segment Information (Schedule Of Segment Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
GeographicSegments | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of operating segments | ' | ' | 4 | ' |
Net sales to unrelated entities | $324,246,000 | $280,495,000 | $748,330,000 | $628,802,000 |
Income (loss) from operations | -16,989,000 | -9,997,000 | 18,462,000 | 2,731,000 |
Interest income, net | 384,000 | 215,000 | 623,000 | 347,000 |
Interest expense on note payable to related party | -277,000 | 0 | -487,000 | 0 |
Other non-operating expense | -149,000 | -473,000 | -505,000 | -1,103,000 |
Income (loss) before income tax | -17,031,000 | -10,255,000 | 18,093,000 | 1,975,000 |
United States [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 146,368,000 | 139,789,000 | 387,557,000 | 340,287,000 |
Income (loss) from operations | 2,365,000 | 5,415,000 | 46,536,000 | 30,962,000 |
LAAP [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 96,100,000 | 81,283,000 | 212,913,000 | 164,329,000 |
Income (loss) from operations | 9,253,000 | 10,558,000 | 26,487,000 | 21,914,000 |
EMEA [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 72,949,000 | 53,034,000 | 112,089,000 | 93,954,000 |
Income (loss) from operations | 5,797,000 | -1,558,000 | 2,271,000 | -7,131,000 |
Canada [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to unrelated entities | 8,829,000 | 6,389,000 | 35,771,000 | 30,232,000 |
Income (loss) from operations | -3,784,000 | -4,050,000 | -385,000 | -547,000 |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Income (loss) from operations | 13,631,000 | 10,365,000 | 74,909,000 | 45,198,000 |
Corporate, Non-Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Unallocated corporate expenses | ($30,620,000) | ($20,362,000) | ($56,447,000) | ($42,467,000) |
Financial_Instruments_And_Risk2
Financial Instruments And Risk Management (Narrative) (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Derivative [Line Items] | ' |
Deferred net gains on derivatives accumulated in other comprehensive income expected reclassification to net income in next twelve months | $522,000 |
Maximum [Member] | ' |
Derivative [Line Items] | ' |
Derivatives maximum remaining maturity | '2 years |
Aggregate unrealized gain of derivative contracts with single counterparty | $1,000,000 |
Financial_Instruments_And_Risk3
Financial Instruments And Risk Management (Gross Notional Amount Of Outstanding Derivative Instruments) (Details) (Currency Forward Contracts [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Currency forward contracts | $127,000 | $99,000 | $71,500 |
Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Currency forward contracts | $63,500 | $109,000 | $77,000 |
Financial_Instruments_And_Risk4
Financial Instruments And Risk Management (Balance Sheet Classification And Fair Value Of Derivative Instruments) (Details) (Currency Forward Contracts [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | $986 | $1,936 | $2,516 |
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | 302 | 2,956 | 1,855 |
Other Non-Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative assets | 155 | 24 | 343 |
Accrued Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative liabilities | 1,081 | 872 | 262 |
Accrued Liabilities [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative liabilities | 650 | 280 | 460 |
Other Long Term Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Fair value of derivative liabilities | $12 | $95 | $0 |
Financial_Instruments_And_Risk5
Financial Instruments And Risk Management (Effect And Classification Of Derivative Instruments) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in other comprehensive income or loss | ($634) | $727 | $70 | $2,880 |
Cost Of Sales [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) reclassified from accumulated other comprehensive income or loss to income or loss for the effective portion | 690 | 766 | 1,499 | 1,626 |
Gain (loss) recognized in income or loss for amount excluded from effectiveness testing and for the ineffective portion | -186 | -2 | -208 | -45 |
Other Non-operating Income (Expense) [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (loss) recognized in income or loss | ($506) | $2,663 | ($1,971) | $6,012 |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Operating Leases, Future Minimum Payments Due | $305,671,000 | $275,687,000 |
Inventory purchase obligations | $400,933,000 | ' |
Fair_Value_Measures_Assets_And
Fair Value Measures (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | 6 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | $262,355 | $367,420 | $367,772 | |||
Total liabilities measured at fair value | 1,743 | 1,247 | 722 | |||
Investments, remaining maturity, minimum | '3 months | ' | ' | |||
Investments, remaining maturity, maximum | '2 years | ' | ' | |||
Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 179,400 | 220,930 | 216,156 | |||
Total liabilities measured at fair value | 0 | 0 | 0 | |||
Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 82,955 | 146,490 | 151,616 | |||
Total liabilities measured at fair value | 1,743 | 1,247 | 722 | |||
Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Total liabilities measured at fair value | 0 | 0 | 0 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 1,731 | 1,152 | 722 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | 0 | 0 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 1,731 | 1,152 | 722 | |||
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | 0 | 0 | |||
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 12 | 95 | ' | |||
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | 0 | ' | |||
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 12 | 95 | ' | |||
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total liabilities measured at fair value | 0 | 0 | ' | |||
Cash Equivalents [Member] | Money Market Funds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 147,953 | 175,624 | 186,245 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 147,953 | 175,624 | 186,245 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Cash Equivalents [Member] | Time Deposits [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 39,972 | 34,637 | 41,710 | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 25,148 | 25,111 | 25,073 | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 14,824 | 9,526 | 16,637 | |||
Cash Equivalents [Member] | Time Deposits [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 735 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 735 | ' | |||
Cash Equivalents [Member] | Certificates of Deposit [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 40,000 | 45,000 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 40,000 | 45,000 | ' | |||
Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | ' | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 9,898 | 40,741 | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | 0 | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 9,898 | 40,741 | |||
Cash Equivalents [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | 0 | |||
Available-For-Sale Short-Term Investments [Member] | Short-term municipal bond funds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 15,004 | [1] | ' | ||
Available-For-Sale Short-Term Investments [Member] | Short-term municipal bond funds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 15,004 | [1] | ' | ||
Available-For-Sale Short-Term Investments [Member] | Short-term municipal bond funds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | [1] | ' | ||
Available-For-Sale Short-Term Investments [Member] | Short-term municipal bond funds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | [1] | ' | ||
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 3,429 | [1] | 9,546 | [1] | 4,905 | [1] |
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | [1] | 0 | [1] | 0 | [1] |
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 3,429 | [1] | 9,546 | [1] | 4,905 | [1] |
Available-For-Sale Short-Term Investments [Member] | Certificates of Deposit [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | [1] | 0 | [1] | 0 | [1] |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 18,675 | [1] | 52,105 | [1] | 56,615 | [1] |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | [1] | 0 | [1] | |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 18,675 | [1] | 52,105 | [1] | 56,615 | [1] |
Available-For-Sale Short-Term Investments [Member] | Variable Rate Demand Obligation [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | ' | 0 | [1] | 0 | [1] | |
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 4,584 | [1] | 14,764 | [1] | 28,004 | [1] |
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | [1] | 0 | [1] | 0 | [1] |
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 4,584 | [1] | 14,764 | [1] | 28,004 | [1] |
Available-For-Sale Short-Term Investments [Member] | U.S. Government-Backed Municipal Bonds [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | [1] | 0 | [1] | 0 | [1] |
Trading Securities [Member] | Mutual Fund Shares [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 550 | 336 | 657 | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 550 | 336 | 657 | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Trading Securities [Member] | Mutual Fund Shares [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,288 | 4,892 | 4,371 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 1,288 | 4,892 | 4,371 | |||
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 155 | 24 | 343 | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | ' | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 155 | 24 | 343 | |||
Non Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | ' | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 5,749 | 4,855 | 4,181 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 5,749 | 4,855 | 4,181 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | 0 | 0 | 0 | |||
Non Current Assets [Member] | Mutual Fund Shares [Member] | Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Total assets measured at fair value | $0 | $0 | $0 | |||
[1] | (1)B Investments have remaining maturities greater than three months but less than two years and are available for use in current opera |
Fair_Value_Measures_Fair_Value
Fair Value Measures Fair Value Measures (Narrative) (Details) (Fair Value, Measurements, Nonrecurring [Member], Fair Value, Inputs, Level 3 [Member], EMEA [Member], USD $) | Dec. 31, 2013 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | EMEA [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Property, Plant, and Equipment, Fair Value Disclosure | $19,300,000 |
Related_Party_Transactions_Rel1
Related Party Transactions Related Party Transactions (Details) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 60 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2018 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Swire Resources [Member] | Swire Resources [Member] | China, Yuan Renminbi | Scenario, Forecast [Member] | |
USD ($) | USD ($) | Swire Resources [Member] | Swire Resources [Member] | ||||||
CNY | |||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related party service fees | ' | ' | ' | ' | ' | $2,173,000 | $4,880,000 | ' | ' |
Related party sourcing fees | ' | ' | ' | ' | ' | 8,000 | 293,000 | ' | ' |
Note payable to related party noncurrent | 15,734,000 | 0 | 15,734,000 | 0 | 0 | ' | ' | 97,600,000 | ' |
Related party note payable maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-18 |
Related party note payable interest rate | ' | ' | ' | ' | ' | 7.00% | 7.00% | ' | ' |
Related party interest expense on note payable | 277,000 | 0 | 487,000 | 0 | ' | 277,000 | 487,000 | ' | ' |
Accounts payable to related party current | ' | ' | ' | ' | ' | $5,044,000 | $5,044,000 | ' | ' |
Subsequent_Event_Subsequent_Ev1
Subsequent Event Subsequent Event (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Event [Line Items] | ' |
Stock split description | '100% stock dividend |
Stock split conversion ratio | 2 |