Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 21, 2016 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | COLUMBIA SPORTSWEAR CO | |
Entity Central Index Key | 1,050,797 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 69,799,352 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Current Assets: | |||
Cash and cash equivalents | $ 219,189 | $ 369,770 | $ 173,410 |
Short-term investments | 467 | 629 | 629 |
Accounts receivable, net of allowance of $8,519, $9,928 and $9,043, respectively | 486,236 | 371,953 | 529,844 |
Inventories | 588,021 | 473,637 | 546,685 |
Deferred income taxes | 0 | 0 | 62,888 |
Prepaid expenses and other current assets | 33,514 | 33,400 | 35,140 |
Total current assets | 1,327,427 | 1,249,389 | 1,348,596 |
Property, plant and equipment, at cost, net of accumulated depreciation of $403,244, $363,278 and $354,273, respectively | 285,514 | 291,687 | 294,926 |
Intangible assets, net (Note 4) | 134,724 | 138,584 | 139,871 |
Goodwill | 68,594 | 68,594 | 68,594 |
Deferred Tax Assets, Net, Noncurrent | 79,934 | 76,181 | 2,972 |
Other non-current assets | 25,622 | 21,718 | 21,917 |
Total assets | 1,921,815 | 1,846,153 | 1,876,876 |
Current Liabilities: | |||
Line of Credit, Current | 20 | 1,940 | 21,045 |
Accounts payable | 136,667 | 217,230 | 170,168 |
Accrued liabilities (Note 5) | 166,496 | 141,862 | 163,897 |
Income taxes payable | 29,332 | 5,038 | 30,515 |
Deferred income taxes | 0 | 0 | 126 |
Total current liabilities | 332,515 | 366,070 | 385,751 |
Note payable to related party (Note 13) | 14,629 | 15,030 | 15,356 |
Other long-term liabilities | 43,066 | 40,172 | 38,625 |
Income taxes payable, noncurrent | 10,724 | 8,839 | 11,256 |
Deferred income taxes | 229 | 229 | 4,364 |
Total liabilities | 401,163 | 430,340 | 455,352 |
Commitments and contingencies (Note 11) | |||
Equity: | |||
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 | 0 |
Common stock (no par value); 250,000 shares authorized; 69,792, 69,277, and 70,376 issued and outstanding, respectively (Note 8) | 49,091 | 34,776 | 86,869 |
Retained earnings | 1,457,495 | 1,385,860 | 1,334,390 |
Accumulated other comprehensive income (loss) (Note 7) | (6,934) | (20,836) | (14,862) |
Total shareholders' equity | 1,499,652 | 1,399,800 | 1,406,397 |
Non-controlling interest (Note 3) | 21,000 | 16,013 | 15,127 |
Total equity | 1,520,652 | 1,415,813 | 1,421,524 |
Total liabilities and equity | $ 1,921,815 | $ 1,846,153 | $ 1,876,876 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Allowance for doubtful accounts | $ 8,519 | $ 9,928 | $ 9,043 |
Accumulated depreciation for property, plant and equipment | $ 403,244 | $ 363,278 | $ 354,273 |
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) | 250,000 | 250,000 | 250,000 |
Common stock, shares issued (in shares) | 69,792 | 69,277 | 70,376 |
Common stock, shares outstanding (in shares) | 69,792 | 69,277 | 70,376 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net sales | $ 745,714 | $ 767,550 | $ 1,659,595 | $ 1,626,766 |
Cost of sales | 400,002 | 411,090 | 886,922 | 870,214 |
Gross profit | 345,712 | 356,460 | 772,673 | 756,552 |
Selling, general and administrative expenses | 224,497 | 226,778 | 622,843 | 594,782 |
Net licensing income | 2,415 | 2,587 | 6,279 | 5,659 |
Income from operations | 123,630 | 132,269 | 156,109 | 167,429 |
Interest income, net | 393 | 309 | 1,576 | 1,260 |
Interest expense on note payable to related party | (253) | (275) | (779) | (827) |
Other non-operating expense | (620) | (1,558) | (736) | (3,287) |
Income before income tax | 123,150 | 130,745 | 156,170 | 164,575 |
Income tax expense | (36,598) | (37,805) | (43,297) | (49,520) |
Net income | 86,552 | 92,940 | 112,873 | 115,055 |
Net income attributable to non-controlling interest | 2,967 | 1,879 | 5,690 | 4,068 |
Net income attributable to Columbia Sportswear Company | $ 83,585 | $ 91,061 | $ 107,183 | $ 110,987 |
Earnings per share (Note 8): | ||||
Basic (in dollars per share) | $ 1.20 | $ 1.29 | $ 1.54 | $ 1.58 |
Diluted (in dollars per share) | 1.18 | 1.28 | 1.52 | 1.56 |
Cash dividends per share | $ 0.17 | $ 0.15 | $ 0.51 | $ 0.45 |
Weighted average shares outstanding (Note 8): | ||||
Basic (in shares) | 69,761 | 70,338 | 69,632 | 70,253 |
Diluted (in shares) | 70,630 | 71,239 | 70,586 | 71,201 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net income | $ 86,552 | $ 92,940 | $ 112,873 | $ 115,055 |
Other comprehensive income (loss): | ||||
Unrealized holding losses on available-for-sale securities (net of tax benefit of $0, $0, $0 and $3, respectively) | (4) | (4) | (2) | (6) |
Unrealized gains (losses) on derivative transactions (net of tax effect of ($200), ($990), $3,360, and ($1,279), respectively) | 399 | (6,667) | (9,025) | (4,947) |
Foreign currency translation adjustments (net of tax benefit (expense) of ($123), ($448), ($306) and $622, respectively) | 3,390 | (12,206) | 22,226 | (26,314) |
Other comprehensive income (loss) | 3,785 | (18,877) | 13,199 | (31,267) |
Comprehensive income | 90,337 | 74,063 | 126,072 | 83,788 |
Comprehensive income attributable to non-controlling interest | 2,913 | 1,281 | 4,987 | 3,496 |
Comprehensive income attributable to Columbia Sportswear Company | $ 87,424 | $ 72,782 | $ 121,085 | $ 80,292 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Unrealized holding losses on available-for-sale securities tax benefit | $ 0 | $ 0 | $ 0 | $ 3 |
Unrealized gains (losses) on derivative transactions tax benefit (expense) | (200) | (990) | 3,360 | (1,279) |
Foreign currency translation adjustment tax benefit (expense) | $ (123) | $ (448) | $ (306) | $ 622 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 112,873 | $ 115,055 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 44,478 | 41,921 |
Loss on disposal of property, plant, and equipment | 3,646 | 679 |
Deferred income taxes | 927 | 3,181 |
Stock-based compensation | 8,454 | 8,731 |
Excess tax benefit from employee stock plans | 0 | (7,642) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (106,906) | (195,018) |
Inventories | (103,475) | (173,444) |
Prepaid expenses and other current assets | 429 | 2,762 |
Other assets | (2,552) | (2,676) |
Accounts payable | (82,590) | (41,327) |
Accrued liabilities | 10,999 | 16,747 |
Income taxes payable | 26,045 | 16,799 |
Other liabilities | 2,505 | 3,367 |
Net cash used in operating activities | (85,167) | (210,865) |
Cash flows from investing activities: | ||
Purchases of short-term investments | (21,263) | (38,208) |
Sales of short-term investments | 21,263 | 64,980 |
Capital expenditures | (35,588) | (47,796) |
Proceeds from sale of property, plant, and equipment | 52 | 126 |
Net cash used in investing activities | (35,536) | (20,898) |
Cash flows from financing activities: | ||
Proceeds from credit facilities | 59,277 | 36,519 |
Repayments on credit facilities | (61,197) | (15,343) |
Proceeds from issuance of common stock under employee stock plans | 10,742 | 16,901 |
Tax payments related to restricted stock unit issuances | (4,870) | (4,633) |
Excess tax benefit from employee stock plans | 0 | 7,642 |
Payments for Repurchase of Common Stock | (11) | (14,525) |
Cash dividends paid | (35,548) | (31,667) |
Net cash used in financing activities | (31,607) | (5,106) |
Net effect of exchange rate changes on cash | 1,729 | (3,279) |
Net decrease in cash and cash equivalents | (150,581) | (240,148) |
Cash and cash equivalents, beginning of period | 369,770 | 413,558 |
Cash and cash equivalents, end of period | 219,189 | 173,410 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | 14,601 | 26,413 |
Cash paid during the period for interest on note payable to related party | 792 | 834 |
Supplemental disclosures of non-cash investing activities: | ||
Capital expenditures incurred but not yet paid | $ 3,656 | $ 9,150 |
Basis Of Presentation And Organ
Basis Of Presentation And Organization | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation And Organization | BASIS OF PRESENTATION AND ORGANIZATION The accompanying unaudited condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, the "Company") and in the opinion of management include all normal recurring material adjustments necessary to present fairly the Company’s financial position as of September 30, 2016 and 2015 , and the results of operations and cash flows for the three and nine months ended September 30, 2016 and 2015 . The December 31, 2015 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, 2015 . A significant part of the Company’s business is of a seasonal nature; therefore, results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of results to be expected for other quarterly periods or 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, 2015 . 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, goodwill, income taxes and stock-based compensation. Changes Affecting Comparability In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-17, Balance Sheet Classification of Deferred Taxes: Topic 740, which simplifies the presentation of deferred income taxes. This ASU requires that deferred tax assets and liabilities be classified as non-current in a statement of financial position. The Company early-adopted ASU 2015-17 effective December 31, 2015 on a prospective basis. Therefore, prior periods have not been adjusted to reflect this guidance. If the Company had retrospectively adopted this guidance, the effects on September 30, 2015 balances would have been a $62,888,000 decrease in current deferred tax assets, a $62,922,000 increase in long-term deferred tax assets, a $ 126,000 decrease in current deferred tax liabilities and a $ 160,000 increase in long-term deferred tax liabilities. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting: Topic 718, which simplifies how several aspects of share-based payments are accounted for and presented in the financial statements. The Company elected to early-adopt ASU 2016-09 with an effective date of January 1, 2016. Under previous guidance, excess tax benefits and deficiencies from stock-based compensation arrangements were recorded in equity when the awards vested or were settled. ASU 2016-09 requires prospective recognition of excess tax benefits and deficiencies in the income statement, resulting in the recognition of excess tax benefits of $ 465,000 and $ 4,940,000 in income tax expense, rather than in paid-in capital, for the three and nine months ended September 30, 2016, respectively. In addition, under ASU 2016-09, excess income tax benefits from stock-based compensation arrangements are classified as cash flow from operations, rather than as cash flow from financing activities. The Company has elected to apply the cash flow classification guidance of ASU 2016-09 prospectively, resulting in an increase to operating cash flow of $ 4,973,000 for the nine months ended September 30, 2016; the prior year period has not been adjusted. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. ASU 2016-09 requires excess tax benefits and deficiencies to be prospectively excluded from assumed future proceeds in the calculation of diluted shares, resulting in an increase in diluted weighted average shares outstanding of 227,047 and 243,002 shares for the three and nine months ended September 30, 2016, respectively. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
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, 2015 , except as described in Note 1 under Changes affecting comparability . Impairment of Long-lived Assets Long-lived assets are amortized over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. In these cases, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges for long-lived assets are included in selling, general and administrative ("SG&A") expense and were $3,258,000 for the nine months ended September 30, 2016. These charges were recorded in the United States segment for certain underperforming retail stores. There were no such charges for the three months ended September 30, 2016 or the nine months ended September 30, 2015. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers: Topic 606. ASU 2014-09 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. The FASB continues to clarify this guidance and most recently issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ASU No. 2016-10, Identifying Performance Obligations and Licensing , and ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients , which have the same effective date as ASU 2014-09. These new standards will become effective beginning in the first quarter of 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. The Company has not yet selected a transition method and continues to evaluate the expected impacts on the Company's financial position, results of operations or cash flows. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , an update to their accounting guidance related to the recognition and measurement of certain financial instruments. This new standard requires equity investments that are not accounted for under the equity method of accounting to be measured at fair value with changes recognized in net income and also updates certain presentation and disclosure requirements. This standard is effective beginning in the first quarter of 2018 with early adoption permitted. The adoption of ASU 2016-01 is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, Leases: Topic 842, in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases previously classified as operating leases. The new standard will become effective beginning with the first quarter of 2019 using a modified retrospective approach and early adoption is permitted. The Company expects that this standard will have a material impact on its consolidated balance sheet and is currently evaluating the impact. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments: Credit Losses Topic 326 : Measurement of Credit Losses on Financial Instruments. The pronouncement changes the impairment model for most financial assets, and will require the use of an " expected loss " model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. This standard is effective beginning in the first quarter of 2020. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. Effective December 31, 2015, the Company adopted ASU 2015-17, Balance Sheet Classification of Deferred Taxes: Topic 740. See Changes affecting comparability under Note 1. Effective January 1, 2016, the Company adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting: Topic 718. See Changes affecting comparability under Note 1. |
Non-Controlling Interest
Non-Controlling Interest | 9 Months Ended |
Sep. 30, 2016 | |
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 began operations on January 1, 2014. The accounts of the joint venture are included in the condensed consolidated financial statements. Swire's share of net income from the joint venture is included in net income attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015 . The 40% non-controlling equity interest in this entity is included in total equity as non-controlling interest in the Condensed Consolidated Balance Sheets as of September 30, 2016 and 2015 , and December 31, 2015 . The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2016 (in thousands, except per share amounts): Columbia Sportswear Company Non-Controlling Interest Total Balance at December 31, 2015 $ 1,399,800 $ 16,013 $ 1,415,813 Net income 107,183 5,690 112,873 Other comprehensive income (loss), net of tax: Unrealized holding losses on available-for-sale securities (2 ) — (2 ) Derivative holding gains (losses) (9,078 ) 53 (9,025 ) Foreign currency translation adjustments 22,982 (756 ) 22,226 Cash dividends ($0.51 per share) (35,548 ) — (35,548 ) Issuance of common stock under employee stock plans, net 5,872 — 5,872 Stock-based compensation expense 8,454 — 8,454 Repurchase of common stock (11 ) — (11 ) Balance at September 30, 2016 $ 1,499,652 $ 21,000 $ 1,520,652 The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2015 (in thousands, except per share amounts): Columbia Sportswear Company Non-Controlling Interest Total Balance at December 31, 2014 $ 1,343,603 $ 11,631 $ 1,355,234 Net income 110,987 4,068 115,055 Other comprehensive income (loss), net of tax: Unrealized holding losses on available-for-sale securities (6 ) — (6 ) Derivative holding losses (4,947 ) — (4,947 ) Foreign currency translation adjustments (25,742 ) (572 ) (26,314 ) Cash dividends ($0.45 per share) (31,667 ) — (31,667 ) Issuance of common stock under employee stock plans, net 12,268 — 12,268 Tax adjustment from stock plans 7,695 — 7,695 Stock-based compensation expense 8,731 — 8,731 Repurchase of common stock (14,525 ) — (14,525 ) Balance at September 30, 2015 $ 1,406,397 $ 15,127 $ 1,421,524 |
Intangible Assets, Net and Good
Intangible Assets, Net and Goodwill | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net and Goodwill | INTANGIBLE ASSETS, NET Intangible assets that are determined to have finite lives include patents, purchased technology and customer relationships and are amortized over their estimated useful lives, which range from approximately 3 to 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 (in thousands): September 30, December 31, September 30, Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 $ 14,198 Customer relationships 23,000 23,000 23,000 Gross carrying amount 37,198 37,198 37,198 Accumulated amortization: Patents and purchased technology (8,989 ) (7,992 ) (7,659 ) Customer relationships (8,906 ) (6,043 ) (5,089 ) Total accumulated amortization (17,895 ) (14,035 ) (12,748 ) Net carrying amount 19,303 23,163 24,450 Intangible assets not subject to amortization 115,421 115,421 115,421 Intangible assets, net $ 134,724 $ 138,584 $ 139,871 Amortization expense for intangible assets subject to amortization was $1,287,000 for both the three months ended September 30, 2016 and 2015 , and was $3,860,000 for both the nine months ended September 30, 2016 and 2015 . Annual amortization expense is estimated to be as follows for the years 2016-2020 (in thousands): 2016 $ 5,147 2017 3,883 2018 2,980 2019 2,980 2020 2,537 |
Product Warranty
Product Warranty | 9 Months Ended |
Sep. 30, 2016 | |
Product Warranties Disclosures [Abstract] | |
Product Warranty | PRODUCT WARRANTY Some of the Company’s products carry limited warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company’s history of warranty repairs and replacements and is recorded in cost of sales. The warranty reserve is included in accrued liabilities in the Condensed Consolidated Balance Sheets. A reconciliation of product warranties is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 11,653 $ 10,966 $ 11,487 $ 11,148 Provision for warranty claims 922 921 3,360 3,246 Warranty claims (462 ) (478 ) (2,894 ) (2,711 ) Other 76 (138 ) 236 (412 ) Balance at end of period $ 12,189 $ 11,271 $ 12,189 $ 11,271 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2016 | |
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 compensation is recognized based on an estimated number of awards that are expected to vest. Stock-based compensation expense consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock options $ 1,008 $ 898 $ 2,989 $ 2,727 Restricted stock units 1,993 1,894 5,465 6,004 Total $ 3,001 $ 2,792 $ 8,454 $ 8,731 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Expected option term 4.37 years 4.37 years 4.63 years 4.60 years Expected stock price volatility 29.34% 29.37% 29.80% 26.56% Risk-free interest rate 0.94% 1.27% 1.17% 1.20% Expected annual dividend yield 1.17% 0.84% 1.20% 1.26% Weighted average grant date fair value $13.12 $17.12 $13.38 $10.36 During the nine months ended September 30, 2016 and 2015 , the Company granted a total of 428,500 and 499,240 stock options, respectively. At September 30, 2016 , unrecognized costs related to outstanding stock options totaled approximately $7,866,000 , before any related tax benefit. The unrecognized costs related to stock options are amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at September 30, 2016 are expected to be recognized over a weighted average period of 2.34 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Vesting period 4.01 years 4.00 years 3.83 years 3.82 years Expected annual dividend yield 1.17% 0.93% 1.16% 1.14% Estimated average grant date fair value per restricted stock unit $55.43 $62.53 $55.94 $51.09 During the nine months ended September 30, 2016 and 2015 , the Company granted 190,119 and 195,873 restricted stock units, respectively. At September 30, 2016 , unrecognized costs related to outstanding restricted stock units totaled approximately $14,739,000 , before any related tax benefit. The unrecognized costs related to restricted stock units are being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at September 30, 2016 are expected to be recognized over a weighted average period of 2.18 years . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss), 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 loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2016 (in thousands): Unrealized losses on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2016 $ — $ (3,337 ) $ (7,436 ) $ (10,773 ) Other comprehensive income (loss) before reclassifications (4 ) (319 ) 3,497 3,174 Amounts reclassified from other comprehensive income — 665 — 665 Net other comprehensive income (loss) during the period (4 ) 346 3,497 3,839 Balance at September 30, 2016 $ (4 ) $ (2,991 ) $ (3,939 ) $ (6,934 ) The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2015 (in thousands): Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2015 $ 2 $ 10,715 $ (7,300 ) $ 3,417 Other comprehensive income (loss) before reclassifications (4 ) 789 (11,608 ) (10,823 ) Amounts reclassified from other comprehensive income — (7,456 ) — (7,456 ) Net other comprehensive loss during the period (4 ) (6,667 ) (11,608 ) (18,279 ) Balance at September 30, 2015 $ (2 ) $ 4,048 $ (18,908 ) $ (14,862 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2016 (in thousands): Unrealized losses on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2015 $ (2 ) $ 6,087 $ (26,921 ) $ (20,836 ) Other comprehensive income (loss) before reclassifications (2 ) (8,244 ) 22,982 14,736 Amounts reclassified from other comprehensive income — (834 ) — (834 ) Net other comprehensive loss during the period (2 ) (9,078 ) 22,982 13,902 Balance at September 30, 2016 $ (4 ) $ (2,991 ) $ (3,939 ) $ (6,934 ) The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2015 (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, 2014 $ 4 $ 8,995 $ 6,834 $ 15,833 Other comprehensive income (loss) before reclassifications (6 ) 5,629 (25,742 ) (20,119 ) Amounts reclassified from other comprehensive income — (10,576 ) — (10,576 ) Net other comprehensive loss during the period (6 ) (4,947 ) (25,742 ) (30,695 ) Balance at September 30, 2015 $ (2 ) $ 4,048 $ (18,908 ) $ (14,862 ) All reclassification adjustments related to derivative transactions are recorded in cost of sales in the Condensed Consolidated Statements of Operations. See Note 10 for further information regarding derivative instrument reclassification adjustments. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2016 | |
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. The Company early-adopted ASU 2016-09 on a prospective basis, effective January 1, 2016, which resulted in additional diluted weighted average shares of 227,047 and 243,002 for the three and nine months ended September 30, 2016 . See Note 1 under Changes affecting comparability for further discussion. A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Weighted average shares of common stock outstanding, used in computing basic earnings per share 69,761 70,338 69,632 70,253 Effect of dilutive stock options and restricted stock units 869 901 954 948 Weighted average shares of common stock outstanding, used in computing diluted earnings per share 70,630 71,239 70,586 71,201 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.20 $ 1.29 $ 1.54 $ 1.58 Diluted 1.18 1.28 1.52 1.56 Stock options and service-based restricted stock units representing 575,541 and 192,652 shares of common stock for the three months ended September 30, 2016 and 2015 , respectively, and 506,437 and 141,844 shares of common stock for the nine months ended September 30, 2016 and 2015, respectively, were outstanding but were excluded from the computation of diluted EPS as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 71,243 and 122,857 shares of common stock for the three months ended September 30, 2016 and 2015 , respectively, and 68,897 and 123,075 shares of common stock for the nine months ended September 30, 2016 and 2015 , 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. Common Stock Repurchase Plan Since the inception of the Company’s stock repurchase plan in 2004 through September 30, 2016 , the Company’s Board of Directors has authorized the repurchase of $700,000,000 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 September 30, 2016 , the Company had repurchased 20,992,940 shares under this program at an aggregate purchase price of approximately $526,522,000 . During the nine months ended September 30, 2016 , the Company repurchased 200 shares of the Company's common stock at an aggregate purchase price of $11,000. During the nine months ended September 30, 2015, the Company repurchased 258,874 shares of the Company's common stock at an aggregate purchase price of $14,525,000. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company has aggregated its operating segments into 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 outdoor and active lifestyle 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. The geographic distribution of the Company’s net sales and income from operations are summarized in the following table (in thousands) for the three and nine months ended September 30, 2016 and 2015 . Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales to unrelated entities: United States $ 484,758 $ 513,148 $ 1,049,779 $ 1,008,940 LAAP 112,718 109,407 301,777 319,537 EMEA 73,062 67,295 183,436 175,025 Canada 75,176 77,700 124,603 123,264 $ 745,714 $ 767,550 $ 1,659,595 $ 1,626,766 Segment income from operations: United States $ 138,682 $ 148,062 $ 226,661 $ 223,586 LAAP 17,698 14,967 37,196 38,894 EMEA 6,599 7,828 7,963 11,308 Canada 13,548 16,563 14,234 19,352 Total segment income from operations 176,527 187,420 286,054 293,140 Unallocated corporate expenses (52,897 ) (55,151 ) (129,945 ) (125,711 ) Interest income, net 393 309 1,576 1,260 Interest expense on note payable to related party (253 ) (275 ) (779 ) (827 ) Other non-operating expense (620 ) (1,558 ) (736 ) (3,287 ) Income before income taxes $ 123,150 $ 130,745 $ 156,170 $ 164,575 |
Financial Instruments And Risk
Financial Instruments And Risk Management | 9 Months Ended |
Sep. 30, 2016 | |
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, results of operations and cash flows 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 non-functional currency denominated purchases and sales. Subsidiaries that use European euros, Canadian dollars, Japanese yen, Chinese renminbi or Korean won as their functional currency are primarily exposed to changes in functional currency equivalent cash flows from anticipated U.S. dollar inventory purchases. The Company's prAna subsidiary uses U.S. dollars as its functional currency and is exposed to anticipated Canadian dollar denominated sales. The Company manages these risks by using currency forward and option contracts formally designated and effective as cash flow hedges. Hedge effectiveness is generally 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 is excluded from the determination of hedge effectiveness and included in current period cost of sales for hedges of anticipated U.S. dollar inventory purchases and in net sales for hedges of anticipated Canadian dollar sales. For option contracts, the change in fair value attributable to changes in time value are excluded from the assessment of hedge effectiveness and included in current period cost of sales. Hedge ineffectiveness was not material during the three and nine months ended September 30, 2016 and 2015 . The Company also uses currency forward contracts not formally designated as hedges to manage the consolidated currency exchange rate risk associated with the remeasurement of non-functional currency denominated monetary assets and liabilities by subsidiaries that use U.S. dollars, euros, Swiss francs, Canadian dollars, yen, 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, receivables, 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 expense, net by the gains and losses generated from the remeasurement of the non-functional currency denominated monetary assets and liabilities. The following table presents the gross notional amount of outstanding derivative instruments (in thousands): September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Currency forward contracts $ 204,000 $ 161,000 $ 133,500 Derivative instruments not designated as cash flow hedges: Currency forward contracts 189,159 113,195 81,000 At September 30, 2016 , approximately $3,130,000 of deferred net losses on both designated and dedesignated cash flow hedges 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, Chinese renminbi, Canadian dollar and Japanese yen when outstanding derivative contracts mature. At September 30, 2016 , the Company’s derivative contracts had a remaining maturity of less than three years. The maximum net exposure to any single counterparty, which is generally limited to the aggregate unrealized gain of all contracts with that counterparty, was less than $1,000,000 at September 30, 2016 . All of the Company's derivative counterparties have investment grade credit ratings. The Company is a party to master netting arrangements that contain features that allow counterparties to net settle amounts arising from multiple separate derivative transactions or net settle in the case of certain triggering events such as a bankruptcy or major default of one of the counterparties to the transaction. Finally, the Company has not pledged assets or posted collateral as a requirement for entering into or maintaining derivative positions. The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): Balance Sheet Classification September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 1,880 $ 5,394 $ 2,101 Currency forward contracts Other non-current assets 344 566 309 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 3,295 224 170 Currency forward contracts Other long-term liabilities 559 — — Derivative instruments not designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 99 1,328 391 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 850 1,693 489 The following table presents the statement of operations effect and classification of derivative instruments (in thousands): Statement of Operations Classification Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Currency Forward and Option Contracts: Derivative instruments designated as cash flow hedges: Gain (loss) recognized in other comprehensive income or loss — $ (266 ) $ 789 $ (8,191 ) $ 5,629 Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion Net sales (46 ) 187 115 187 Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion Cost of sales (784 ) 8,878 821 12,825 Loss reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance Cost of sales — — (81 ) — Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales (4 ) (3 ) 1 (20 ) Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales 143 84 1,105 (126 ) Derivative instruments not designated as cash flow hedges: Gain (loss) recognized in income Other non-operating expense (444 ) 260 (3,885 ) 2,840 |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Inventory Purchase Obligations Inventory purchase obligations consist of open production purchase orders and other commitments for raw materials and sourced apparel, footwear, accessories and equipment. At September 30, 2016 , inventory purchase obligations were $282,129,000 . Litigation The Company is a party to various legal claims, actions and complaints from time to time. Although the ultimate resolution of legal proceedings cannot be predicted with certainty, management believes that disposition of these matters will not have a material adverse effect on the Company’s consolidated financial statements. |
Fair Value Measures
Fair Value Measures | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measures | FAIR VALUE MEASURES Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 — observable inputs such as quoted prices for identical assets or liabilities in active liquid markets; Level 2 — inputs, other than the quoted market prices in active markets, that are observable, either directly or indirectly; or observable market prices in markets with insufficient volume and/or infrequent transactions; and Level 3 — unobservable inputs for which there is little or no market data available, that require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2016 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 96,994 $ — $ — $ 96,994 Time deposits 42,248 — — 42,248 Other short-term investments: Mutual fund shares 467 — — 467 Other current assets: Derivative financial instruments (Note 10) — 1,979 — 1,979 Other non-current assets: Derivative financial instruments (Note 10) — 344 — 344 Mutual fund shares 8,245 — — 8,245 Total assets measured at fair value $ 147,954 $ 2,323 $ — $ 150,277 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 4,145 $ — $ 4,145 Other long-term liabilities: Derivative financial instruments (Note 10) — 559 — 559 Total liabilities measured at fair value $ — $ 4,704 $ — $ 4,704 Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 114,247 $ — $ — $ 114,247 Time deposits 63,327 — — 63,327 Other short-term investments: Mutual fund shares 629 — — 629 Other current assets: Derivative financial instruments (Note 10) — 6,722 — 6,722 Other non-current assets: Derivative financial instruments (Note 10) — 566 — 566 Mutual fund shares 6,887 — — 6,887 Total assets measured at fair value $ 185,090 $ 7,288 $ — $ 192,378 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 1,917 $ — $ 1,917 Total liabilities measured at fair value $ — $ 1,917 $ — $ 1,917 Assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 82,137 $ — $ — $ 82,137 Time deposits 23,600 — — 23,600 Other short-term investments: Mutual funds shares 629 — — 629 Other current assets: Derivative financial instruments (Note 10) — 2,492 — 2,492 Other non-current assets: Derivative financial instruments (Note 10) — 309 — 309 Mutual fund shares 6,596 — — 6,596 Total assets measured at fair value $ 112,962 $ 2,801 $ — $ 115,763 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 659 $ — $ 659 Total liabilities measured at fair value $ — $ 659 $ — $ 659 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, which are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions. Non-recurring Fair Value Measurements There were no material assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2016 , December 31, 2015 or September 30, 2015 . |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS The Company owns a 60% controlling interest in a joint venture formed with Swire, which is a related party. The joint venture arrangement involves Transition Services Agreements ("TSAs") with Swire, under which Swire provides administrative and information technology services to the joint venture. The Company continues to reduce its costs under the TSAs as it internalizes the back-office functions and related personnel, and begins to transition the joint venture's systems to the Company's platform. The joint venture incurred service fees, valued under the TSAs at Swire's cost, of $765,000 and $1,225,000 during the three months ended September 30, 2016 and 2015 , respectively, and $2,660,000 and $5,099,000 during the nine months ended September 30, 2016 and 2015 , respectively. These fees are included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. 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. The Company did not incur these sourcing fees for the three months ended September 30, 2016. The Company incurred $73,000 of these sourcing fees for the three months ended September 30, 2015 . The Company incurred $61,000 and $362,000 of these sourcing fees for the nine months ended September 30, 2016 and 2015 , respectively. In 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 in the Condensed Consolidated Balance Sheet as of September 30, 2016 and 2015 and December 31, 2015 . The note with Swire, in the principal amount of RMB 97,600,000 (US $14,629,000 at September 30, 2016 ), matures on December 31, 2018 and bears interest at a fixed annual rate of 7% . Interest expense related to this note was $253,000 and $275,000 for the three months ended September 30, 2016 and 2015 , respectively, and $779,000 and $827,000 for the nine months ended September 30, 2016 and 2015 , respectively. As of September 30, 2016 and 2015 , and December 31, 2015 , net payables to Swire for service fees, interest expense and miscellaneous expenses totaled $948,000 , $2,995,000 and $1,472,000 , respectively, and were included in accounts payable in 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. |
Non-Controlling Interest (Table
Non-Controlling Interest (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Noncontrolling Interest [Abstract] | |
Schedule of Equity | The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2016 (in thousands, except per share amounts): Columbia Sportswear Company Non-Controlling Interest Total Balance at December 31, 2015 $ 1,399,800 $ 16,013 $ 1,415,813 Net income 107,183 5,690 112,873 Other comprehensive income (loss), net of tax: Unrealized holding losses on available-for-sale securities (2 ) — (2 ) Derivative holding gains (losses) (9,078 ) 53 (9,025 ) Foreign currency translation adjustments 22,982 (756 ) 22,226 Cash dividends ($0.51 per share) (35,548 ) — (35,548 ) Issuance of common stock under employee stock plans, net 5,872 — 5,872 Stock-based compensation expense 8,454 — 8,454 Repurchase of common stock (11 ) — (11 ) Balance at September 30, 2016 $ 1,499,652 $ 21,000 $ 1,520,652 The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the nine months ended September 30, 2015 (in thousands, except per share amounts): Columbia Sportswear Company Non-Controlling Interest Total Balance at December 31, 2014 $ 1,343,603 $ 11,631 $ 1,355,234 Net income 110,987 4,068 115,055 Other comprehensive income (loss), net of tax: Unrealized holding losses on available-for-sale securities (6 ) — (6 ) Derivative holding losses (4,947 ) — (4,947 ) Foreign currency translation adjustments (25,742 ) (572 ) (26,314 ) Cash dividends ($0.45 per share) (31,667 ) — (31,667 ) Issuance of common stock under employee stock plans, net 12,268 — 12,268 Tax adjustment from stock plans 7,695 — 7,695 Stock-based compensation expense 8,731 — 8,731 Repurchase of common stock (14,525 ) — (14,525 ) Balance at September 30, 2015 $ 1,406,397 $ 15,127 $ 1,421,524 |
Intangible Assets, Net and Go22
Intangible Assets, Net and Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary Of Identifiable Intangible Assets | The following table summarizes the Company’s identifiable intangible assets (in thousands): September 30, December 31, September 30, Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 $ 14,198 Customer relationships 23,000 23,000 23,000 Gross carrying amount 37,198 37,198 37,198 Accumulated amortization: Patents and purchased technology (8,989 ) (7,992 ) (7,659 ) Customer relationships (8,906 ) (6,043 ) (5,089 ) Total accumulated amortization (17,895 ) (14,035 ) (12,748 ) Net carrying amount 19,303 23,163 24,450 Intangible assets not subject to amortization 115,421 115,421 115,421 Intangible assets, net $ 134,724 $ 138,584 $ 139,871 |
Schedule of finite lived intangible assets future amortization expense | Annual amortization expense is estimated to be as follows for the years 2016-2020 (in thousands): 2016 $ 5,147 2017 3,883 2018 2,980 2019 2,980 2020 2,537 |
Product Warranty (Tables)
Product Warranty (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Product Warranties Disclosures [Abstract] | |
Reconciliation Of Product Warranties | A reconciliation of product warranties is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 11,653 $ 10,966 $ 11,487 $ 11,148 Provision for warranty claims 922 921 3,360 3,246 Warranty claims (462 ) (478 ) (2,894 ) (2,711 ) Other 76 (138 ) 236 (412 ) Balance at end of period $ 12,189 $ 11,271 $ 12,189 $ 11,271 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Share-based Compensation [Abstract] | |
Schedule Of Stock-Based Compensation Expense | Stock-based compensation expense consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock options $ 1,008 $ 898 $ 2,989 $ 2,727 Restricted stock units 1,993 1,894 5,465 6,004 Total $ 3,001 $ 2,792 $ 8,454 $ 8,731 |
Schedule Of Weighted Average Assumptions For Employee Stock Options | The following table presents the weighted average assumptions for stock options granted in the periods: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Expected option term 4.37 years 4.37 years 4.63 years 4.60 years Expected stock price volatility 29.34% 29.37% 29.80% 26.56% Risk-free interest rate 0.94% 1.27% 1.17% 1.20% Expected annual dividend yield 1.17% 0.84% 1.20% 1.26% Weighted average grant date fair value $13.12 $17.12 $13.38 $10.36 |
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Vesting period 4.01 years 4.00 years 3.83 years 3.82 years Expected annual dividend yield 1.17% 0.93% 1.16% 1.14% Estimated average grant date fair value per restricted stock unit $55.43 $62.53 $55.94 $51.09 |
Accumulated Other Comprehensi25
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2016 (in thousands): Unrealized losses on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2016 $ — $ (3,337 ) $ (7,436 ) $ (10,773 ) Other comprehensive income (loss) before reclassifications (4 ) (319 ) 3,497 3,174 Amounts reclassified from other comprehensive income — 665 — 665 Net other comprehensive income (loss) during the period (4 ) 346 3,497 3,839 Balance at September 30, 2016 $ (4 ) $ (2,991 ) $ (3,939 ) $ (6,934 ) The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2015 (in thousands): Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2015 $ 2 $ 10,715 $ (7,300 ) $ 3,417 Other comprehensive income (loss) before reclassifications (4 ) 789 (11,608 ) (10,823 ) Amounts reclassified from other comprehensive income — (7,456 ) — (7,456 ) Net other comprehensive loss during the period (4 ) (6,667 ) (11,608 ) (18,279 ) Balance at September 30, 2015 $ (2 ) $ 4,048 $ (18,908 ) $ (14,862 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2016 (in thousands): Unrealized losses on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2015 $ (2 ) $ 6,087 $ (26,921 ) $ (20,836 ) Other comprehensive income (loss) before reclassifications (2 ) (8,244 ) 22,982 14,736 Amounts reclassified from other comprehensive income — (834 ) — (834 ) Net other comprehensive loss during the period (2 ) (9,078 ) 22,982 13,902 Balance at September 30, 2016 $ (4 ) $ (2,991 ) $ (3,939 ) $ (6,934 ) The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2015 (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, 2014 $ 4 $ 8,995 $ 6,834 $ 15,833 Other comprehensive income (loss) before reclassifications (6 ) 5,629 (25,742 ) (20,119 ) Amounts reclassified from other comprehensive income — (10,576 ) — (10,576 ) Net other comprehensive loss during the period (6 ) (4,947 ) (25,742 ) (30,695 ) Balance at September 30, 2015 $ (2 ) $ 4,048 $ (18,908 ) $ (14,862 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS | A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Weighted average shares of common stock outstanding, used in computing basic earnings per share 69,761 70,338 69,632 70,253 Effect of dilutive stock options and restricted stock units 869 901 954 948 Weighted average shares of common stock outstanding, used in computing diluted earnings per share 70,630 71,239 70,586 71,201 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.20 $ 1.29 $ 1.54 $ 1.58 Diluted 1.18 1.28 1.52 1.56 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Schedule Of Segment Information | The geographic distribution of the Company’s net sales and income from operations are summarized in the following table (in thousands) for the three and nine months ended September 30, 2016 and 2015 . Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales to unrelated entities: United States $ 484,758 $ 513,148 $ 1,049,779 $ 1,008,940 LAAP 112,718 109,407 301,777 319,537 EMEA 73,062 67,295 183,436 175,025 Canada 75,176 77,700 124,603 123,264 $ 745,714 $ 767,550 $ 1,659,595 $ 1,626,766 Segment income from operations: United States $ 138,682 $ 148,062 $ 226,661 $ 223,586 LAAP 17,698 14,967 37,196 38,894 EMEA 6,599 7,828 7,963 11,308 Canada 13,548 16,563 14,234 19,352 Total segment income from operations 176,527 187,420 286,054 293,140 Unallocated corporate expenses (52,897 ) (55,151 ) (129,945 ) (125,711 ) Interest income, net 393 309 1,576 1,260 Interest expense on note payable to related party (253 ) (275 ) (779 ) (827 ) Other non-operating expense (620 ) (1,558 ) (736 ) (3,287 ) Income before income taxes $ 123,150 $ 130,745 $ 156,170 $ 164,575 |
Financial Instruments And Ris28
Financial Instruments And Risk Management (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Gross Notional Amount Of Outstanding Derivative Instruments | The following table presents the gross notional amount of outstanding derivative instruments (in thousands): September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Currency forward contracts $ 204,000 $ 161,000 $ 133,500 Derivative instruments not designated as cash flow hedges: Currency forward contracts 189,159 113,195 81,000 |
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 September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 1,880 $ 5,394 $ 2,101 Currency forward contracts Other non-current assets 344 566 309 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 3,295 224 170 Currency forward contracts Other long-term liabilities 559 — — Derivative instruments not designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 99 1,328 391 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 850 1,693 489 |
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 Operations Classification Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Currency Forward and Option Contracts: Derivative instruments designated as cash flow hedges: Gain (loss) recognized in other comprehensive income or loss — $ (266 ) $ 789 $ (8,191 ) $ 5,629 Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion Net sales (46 ) 187 115 187 Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion Cost of sales (784 ) 8,878 821 12,825 Loss reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance Cost of sales — — (81 ) — Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales (4 ) (3 ) 1 (20 ) Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales 143 84 1,105 (126 ) Derivative instruments not designated as cash flow hedges: Gain (loss) recognized in income Other non-operating expense (444 ) 260 (3,885 ) 2,840 |
Fair Value Measures (Tables)
Fair Value Measures (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets And Liabilities Measured At Fair Value On A Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of September 30, 2016 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 96,994 $ — $ — $ 96,994 Time deposits 42,248 — — 42,248 Other short-term investments: Mutual fund shares 467 — — 467 Other current assets: Derivative financial instruments (Note 10) — 1,979 — 1,979 Other non-current assets: Derivative financial instruments (Note 10) — 344 — 344 Mutual fund shares 8,245 — — 8,245 Total assets measured at fair value $ 147,954 $ 2,323 $ — $ 150,277 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 4,145 $ — $ 4,145 Other long-term liabilities: Derivative financial instruments (Note 10) — 559 — 559 Total liabilities measured at fair value $ — $ 4,704 $ — $ 4,704 Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 114,247 $ — $ — $ 114,247 Time deposits 63,327 — — 63,327 Other short-term investments: Mutual fund shares 629 — — 629 Other current assets: Derivative financial instruments (Note 10) — 6,722 — 6,722 Other non-current assets: Derivative financial instruments (Note 10) — 566 — 566 Mutual fund shares 6,887 — — 6,887 Total assets measured at fair value $ 185,090 $ 7,288 $ — $ 192,378 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 1,917 $ — $ 1,917 Total liabilities measured at fair value $ — $ 1,917 $ — $ 1,917 Assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 82,137 $ — $ — $ 82,137 Time deposits 23,600 — — 23,600 Other short-term investments: Mutual funds shares 629 — — 629 Other current assets: Derivative financial instruments (Note 10) — 2,492 — 2,492 Other non-current assets: Derivative financial instruments (Note 10) — 309 — 309 Mutual fund shares 6,596 — — 6,596 Total assets measured at fair value $ 112,962 $ 2,801 $ — $ 115,763 Liabilities: Accrued liabilities: Derivative financial instruments (Note 10) $ — $ 659 $ — $ 659 Total liabilities measured at fair value $ — $ 659 $ — $ 659 |
Basis Of Presentation And Org30
Basis Of Presentation And Organization New Accounting Pronouncement, Early Adoption, Prior Period Comparability (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2015USD ($) | |
Long-term Deferred Tax Liabilities [Member] [Domain] | |
Item Effected [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Description of Prior-period Information Retrospectively Adjusted | $ 160,000 |
Current Deferred Tax Assets [Member] | |
Item Effected [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Description of Prior-period Information Retrospectively Adjusted | 62,888,000 |
Long-term Deferred Tax Assets [Member] | |
Item Effected [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Description of Prior-period Information Retrospectively Adjusted | 62,922,000 |
Current Deferred Tax Liabilities [Member] | |
Item Effected [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Description of Prior-period Information Retrospectively Adjusted | $ 126,000 |
Basis Of Presentation And Org31
Basis Of Presentation And Organization New Accounting Pronouncement, Early Adoption, Current Period Impact (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Income Tax Benefit [Member] | ||
New Accounting Pronouncement, Early Adoption [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 465,000 | $ 4,940,000 |
Operating Cash Flow Increase [Member] | ||
New Accounting Pronouncement, Early Adoption [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 4,973,000 | |
Weighted Average Diluted Shares Outstanding Impact [Member] | ||
New Accounting Pronouncement, Early Adoption [Line Items] | ||
Adoption of Recent Accounting Pronouncement Impact on Weighted Average Shares Outstanding | 227,047 | 243,002 |
Non-Controlling Interest Non-Co
Non-Controlling Interest Non-Controlling Interest (Narrative) (Details) | Sep. 30, 2016 |
Noncontrolling Interest [Line Items] | |
Non-controlling Interest, Ownership Percentage by Parent | 60.00% |
Non-Controlling Interest Non-33
Non-Controlling Interest Non-Controlling Interest (Schedule of Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Noncontrolling Interest [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.17 | $ 0.15 | $ 0.51 | $ 0.45 |
Balance, beginning of period | $ 1,415,813 | $ 1,355,234 | ||
Net income | $ 86,552 | $ 92,940 | 112,873 | 115,055 |
Other comprehensive income (loss): | ||||
Unrealized holding losses on available-for-sale securities | (4) | (4) | (2) | (6) |
Derivative holding gains (losses) | 399 | (6,667) | (9,025) | (4,947) |
Foreign currency translation adjustments | 3,390 | (12,206) | 22,226 | (26,314) |
Cash dividends | (35,548) | (31,667) | ||
Issuance of common stock under employee stock plans, net | 5,872 | 12,268 | ||
Tax adjustment from stock plans | 7,695 | |||
Stock-based compensation expense | 8,454 | 8,731 | ||
Stock Repurchased During Period, Value | (11) | (14,525) | ||
Balance, end of period | $ 1,520,652 | $ 1,421,524 | $ 1,520,652 | $ 1,421,524 |
Parent [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.17 | $ 0.15 | $ 0.51 | $ 0.45 |
Balance, beginning of period | $ 1,399,800 | $ 1,343,603 | ||
Net income | 107,183 | 110,987 | ||
Other comprehensive income (loss): | ||||
Unrealized holding losses on available-for-sale securities | (2) | (6) | ||
Derivative holding gains (losses) | (9,078) | (4,947) | ||
Foreign currency translation adjustments | 22,982 | (25,742) | ||
Cash dividends | (35,548) | (31,667) | ||
Issuance of common stock under employee stock plans, net | 5,872 | 12,268 | ||
Tax adjustment from stock plans | 7,695 | |||
Stock-based compensation expense | 8,454 | 8,731 | ||
Stock Repurchased During Period, Value | $ (11) | (14,525) | ||
Balance, end of period | 1,499,652 | $ 1,406,397 | 1,499,652 | 1,406,397 |
Non-controlling Interest [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Balance, beginning of period | 16,013 | 11,631 | ||
Net income | 5,690 | 4,068 | ||
Other comprehensive income (loss): | ||||
Unrealized holding losses on available-for-sale securities | 0 | 0 | ||
Derivative holding gains (losses) | 53 | 0 | ||
Foreign currency translation adjustments | (756) | (572) | ||
Cash dividends | 0 | 0 | ||
Issuance of common stock under employee stock plans, net | 0 | 0 | ||
Tax adjustment from stock plans | 0 | |||
Stock-based compensation expense | 0 | 0 | ||
Stock Repurchased During Period, Value | 0 | 0 | ||
Balance, end of period | $ 21,000 | $ 15,127 | $ 21,000 | $ 15,127 |
Intangible Assets, Net and Go34
Intangible Assets, Net and Goodwill (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization of Intangible Assets | $ 1,287,000 | $ 1,287,000 | $ 3,860,000 | $ 3,860,000 | |
Goodwill | $ 68,594,000 | $ 68,594,000 | $ 68,594,000 | $ 68,594,000 | $ 68,594,000 |
Intangible Assets, Net and Go35
Intangible Assets, Net and Goodwill (Summary Of Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Summary of Identifiable Intangible Assets [Line Items] | |||
Intangible assets subject to amortization, Gross carrying amount | $ 37,198 | $ 37,198 | $ 37,198 |
Intangible assets subject to amortization, Accumulated amortization | (17,895) | (14,035) | (12,748) |
Intangible assets subject to amortization, Net carrying amount | 19,303 | 23,163 | 24,450 |
Intangible assets not subject to amortization | 115,421 | 115,421 | 115,421 |
Intangible assets, net | 134,724 | 138,584 | 139,871 |
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 | (8,989) | (7,992) | (7,659) |
Customer Relationships [Member] | |||
Summary of Identifiable Intangible Assets [Line Items] | |||
Intangible assets subject to amortization, Gross carrying amount | 23,000 | 23,000 | 23,000 |
Intangible assets subject to amortization, Accumulated amortization | $ (8,906) | $ (6,043) | $ (5,089) |
Intangible Assets, Net and Go36
Intangible Assets, Net and Goodwill Schedule of Estimated Five Year Amortization Expense (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Finite-Lived Intangible Assets [Abstract] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 5,147 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 3,883 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2,980 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 2,980 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 2,537 |
Product Warranty (Reconciliatio
Product Warranty (Reconciliation Of Product Warranties) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reconciliation of Product Warranty Accrual [Roll Forward] | ||||
Balance at beginning of period | $ 11,653 | $ 10,966 | $ 11,487 | $ 11,148 |
Provision for warranty claims | 922 | 921 | 3,360 | 3,246 |
Warranty claims | (462) | (478) | (2,894) | (2,711) |
Other | 76 | (138) | 236 | (412) |
Balance at end of period | $ 12,189 | $ 11,271 | $ 12,189 | $ 11,271 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | |
Employee Stock Options [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Stock options granted (in shares) | 428,500 | 499,240 | |
Unrecognized costs related to share based compensation | $ 7,866,000 | $ 7,866,000 | |
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 4 months 3 days | ||
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 | $ 14,739,000 | $ 14,739,000 | |
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 2 months 5 days | ||
Restricted stock units granted (in shares) | 190,119 | 195,873 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 3,001 | $ 2,792 | $ 8,454 | $ 8,731 |
Employee Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 1,008 | 898 | 2,989 | 2,727 |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 1,993 | $ 1,894 | $ 5,465 | $ 6,004 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Weighted Average Assumptions) (Details) - Stock Option [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected term, years | 4 years 4 months 12 days | 4 years 4 months 12 days | 4 years 7 months 17 days | 4 years 7 months 5 days |
Expected stock price volatility | 29.34% | 29.37% | 29.80% | 26.56% |
Risk-free interest rate | 0.94% | 1.27% | 1.17% | 1.20% |
Expected annual dividend yield | 1.17% | 0.84% | 1.20% | 1.26% |
Weighted average grant date fair value (in dollars per share) | $ 13.12 | $ 17.12 | $ 13.38 | $ 10.36 |
Stock-Based Compensation (Sch41
Stock-Based Compensation (Schedule Of Weighted Average Assumptions For Restricted Stock Units) (Details) - Restricted Stock Units [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, years | 4 years 3 days | 4 years | 3 years 9 months 28 days | 3 years 9 months 25 days |
Expected annual dividend yield | 1.17% | 0.93% | 1.16% | 1.14% |
Estimated average grant date fair value per restricted stock unit (in dollars per share) | $ 55.43 | $ 62.53 | $ 55.94 | $ 51.09 |
Accumulated Other Comprehensi42
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | $ (10,773) | $ 3,417 | $ (20,836) | $ 15,833 |
Other comprehensive income (loss) before reclassifications | 3,174 | (10,823) | 14,736 | (20,119) |
Amounts reclassified from other comprehensive income | 665 | (7,456) | (834) | (10,576) |
Net other comprehensive income (loss) during the period | 3,839 | (18,279) | 13,902 | (30,695) |
Accumulated other comprehensive income at end of period | (6,934) | (14,862) | (6,934) | (14,862) |
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 | 0 | 2 | (2) | 4 |
Other comprehensive income (loss) before reclassifications | (4) | (4) | (2) | (6) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | (4) | (4) | (2) | (6) |
Accumulated other comprehensive income at end of period | (4) | (2) | (4) | (2) |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | (3,337) | 10,715 | 6,087 | 8,995 |
Other comprehensive income (loss) before reclassifications | (319) | 789 | (8,244) | 5,629 |
Amounts reclassified from other comprehensive income | 665 | (7,456) | (834) | (10,576) |
Net other comprehensive income (loss) during the period | 346 | (6,667) | (9,078) | (4,947) |
Accumulated other comprehensive income at end of period | (2,991) | 4,048 | (2,991) | 4,048 |
Foreign Currency Translation Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | (7,436) | (7,300) | (26,921) | 6,834 |
Other comprehensive income (loss) before reclassifications | 3,497 | (11,608) | 22,982 | (25,742) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 3,497 | (11,608) | 22,982 | (25,742) |
Accumulated other comprehensive income at end of period | $ (3,939) | $ (18,908) | $ (3,939) | $ (18,908) |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Stock repurchase plan, authorized amount | $ 700,000,000 | $ 700,000,000 | ||
Aggregate shares repurchased under stock repurchase plan (in shares) | 20,992,940 | |||
Stock purchase value | $ 526,522,000 | |||
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 | 575,541 | 192,652 | 506,437 | 141,844 |
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 | 71,243 | 122,857 | 68,897 | 123,075 |
Weighted Average Diluted Shares Outstanding Impact [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Adoption of Recent Accounting Pronouncement Impact on Weighted Average Shares Outstanding | 227,047 | 243,002 |
Earnings Per Share (Reconciliat
Earnings Per Share (Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS) (Details) - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Weighted average shares of common stock outstanding, used in computing basic earnings per share (in shares) | 69,761 | 70,338 | 69,632 | 70,253 |
Effect of dilutive stock options and restricted stock units (in shares) | 869 | 901 | 954 | 948 |
Weighted-average shares of common stock outstanding, used in computing diluted earnings per share (in shares) | 70,630 | 71,239 | 70,586 | 71,201 |
Income Loss From Continuing Operations Per Basic And Diluted Share [Abstract] | ||||
Earnings (loss) per share of common stock, Basic (in dollars per share) | $ 1.20 | $ 1.29 | $ 1.54 | $ 1.58 |
Earnings (loss) per share of common stock, Diluted (in dollars per share) | $ 1.18 | $ 1.28 | $ 1.52 | $ 1.56 |
Segment Information (Schedule O
Segment Information (Schedule Of Segment Information) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)GeographicSegments | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of operating segments | GeographicSegments | 4 | |||
Net sales to unrelated entities | $ 745,714 | $ 767,550 | $ 1,659,595 | $ 1,626,766 |
Income from operations | 123,630 | 132,269 | 156,109 | 167,429 |
Interest income, net | 393 | 309 | 1,576 | 1,260 |
Related party interest expense on note payable | (253) | (275) | (779) | (827) |
Other non-operating expense | (620) | (1,558) | (736) | (3,287) |
Income before income tax | 123,150 | 130,745 | 156,170 | 164,575 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 484,758 | 513,148 | 1,049,779 | 1,008,940 |
Income from operations | 138,682 | 148,062 | 226,661 | 223,586 |
LAAP [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 112,718 | 109,407 | 301,777 | 319,537 |
Income from operations | 17,698 | 14,967 | 37,196 | 38,894 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 73,062 | 67,295 | 183,436 | 175,025 |
Income from operations | 6,599 | 7,828 | 7,963 | 11,308 |
Canada [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 75,176 | 77,700 | 124,603 | 123,264 |
Income from operations | 13,548 | 16,563 | 14,234 | 19,352 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 176,527 | 187,420 | 286,054 | 293,140 |
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Unallocated corporate expenses | $ (52,897) | $ (55,151) | $ (129,945) | $ (125,711) |
Financial Instruments And Ris46
Financial Instruments And Risk Management (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Derivative [Line Items] | |
Deferred net gains on derivatives accumulated in other comprehensive income expected reclassification to net income in next twelve months | $ 3,130,000 |
Maximum [Member] | |
Derivative [Line Items] | |
Derivatives maximum remaining maturity | 3 years |
Aggregate unrealized gain of derivative contracts with single counterparty | $ 1,000,000 |
Financial Instruments And Ris47
Financial Instruments And Risk Management (Gross Notional Amount Of Outstanding Derivative Instruments) (Details) - Currency Forward Contracts [Member] - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Currency forward contracts | $ 204,000 | $ 161,000 | $ 133,500 |
Derivative Instruments Not Designated As Cash Flow Hedges [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Currency forward contracts | $ 189,159 | $ 113,195 | $ 81,000 |
Financial Instruments And Ris48
Financial Instruments And Risk Management (Balance Sheet Classification And Fair Value Of Derivative Instruments) (Details) - Currency Forward Contracts [Member] - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative assets | $ 1,880 | $ 5,394 | $ 2,101 |
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 | 99 | 1,328 | 391 |
Other Non-Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative assets | 344 | 566 | 309 |
Accrued Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | 3,295 | 224 | 170 |
Accrued Liabilities [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | 850 | 1,693 | 489 |
Other Long Term Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | $ 559 | $ 0 | $ 0 |
Financial Instruments And Ris49
Financial Instruments And Risk Management (Effect And Classification Of Derivative Instruments) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments Designated As Cash Flow Hedges [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in other comprehensive income or loss | $ (266) | $ 789 | $ (8,191) | $ 5,629 |
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 | (784) | 8,878 | 821 | 12,825 |
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 0 | 0 | (81) | 0 |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 143 | 84 | 1,105 | (126) |
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 | (46) | 187 | 115 | 187 |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | (4) | (3) | 1 | (20) |
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 | $ (444) | $ 260 | $ (3,885) | $ 2,840 |
Commitments And Contingencies (
Commitments And Contingencies (Details) | Sep. 30, 2016USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Inventory purchase obligations | $ 282,129,000 |
Fair Value Measures (Assets And
Fair Value Measures (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 150,277 | $ 192,378 | $ 115,763 |
Total liabilities measured at fair value | 4,704 | 1,917 | 659 |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 147,954 | 185,090 | 112,962 |
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 | 2,323 | 7,288 | 2,801 |
Total liabilities measured at fair value | 4,704 | 1,917 | 659 |
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 | 4,145 | 1,917 | 659 |
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 | 4,145 | 1,917 | 659 |
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 | 559 | ||
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 | ||
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 | 559 | ||
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 | ||
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 | 96,994 | 114,247 | 82,137 |
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 | 96,994 | 114,247 | 82,137 |
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 | 42,248 | 63,327 | 23,600 |
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 | 42,248 | 63,327 | 23,600 |
Cash Equivalents [Member] | Time Deposits [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | ||
Cash Equivalents [Member] | Time Deposits [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Short-term Investments [Member] | Mutual Fund Shares [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 467 | 629 | 629 |
Short-term Investments [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 | 467 | 629 | 629 |
Short-term Investments [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 |
Short-term Investments [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 | 1,979 | 6,722 | 2,492 |
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 | 1,979 | 6,722 | 2,492 |
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] | Mutual Fund Shares [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 8,245 | 6,887 | 6,596 |
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 | 8,245 | 6,887 | 6,596 |
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 |
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 | 344 | 566 | 309 |
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 | 344 | 566 | $ 309 |
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 |
Related Party Transactions Rela
Related Party Transactions Related Party Transactions (Details) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016CNY (¥) | Dec. 31, 2015USD ($) | |
Related Party Transaction [Line Items] | ||||||
Note payable to related party noncurrent | $ 14,629,000 | $ 15,356,000 | $ 14,629,000 | $ 15,356,000 | $ 15,030,000 | |
Related party interest expense on note payable | 253,000 | 275,000 | 779,000 | 827,000 | ||
Swire Resources [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related party service fees, interest expense and miscellaneous expenses | 765,000 | 1,225,000 | 2,660,000 | 5,099,000 | ||
Related party sourcing fees | 73,000 | 61,000 | 362,000 | |||
Note payable to related party noncurrent | $ 14,629,000 | $ 14,629,000 | ||||
Related party note payable maturity date | Dec. 31, 2018 | |||||
Related party note payable interest rate | 7.00% | 7.00% | 7.00% | |||
Related party interest expense on note payable | $ 253,000 | 275,000 | $ 779,000 | 827,000 | ||
Accounts payable to related party current | $ 948,000 | $ 2,995,000 | $ 948,000 | $ 2,995,000 | $ 1,472,000 | |
China, Yuan Renminbi | Swire Resources [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Note payable to related party noncurrent | ¥ | ¥ 97,600,000 |