Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 09, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
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 Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 1,713,522,574 | ||
Entity Common Stock, Shares Outstanding | 70,016,897 |
Consolidated Balance Sheets
Consolidated Balance Sheets | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
ASSETS | ||
Cash and cash equivalents (Note 20) | $ 673,166,000 | $ 551,389,000 |
Short-term investments (Note 20) | 94,983,000 | 472,000 |
Accounts receivable, net (Note 5) | 364,862,000 | 333,678,000 |
Inventories | 457,927,000 | 487,997,000 |
Prepaid expenses and other current assets | 58,559,000 | 38,487,000 |
Total current assets | 1,649,497,000 | 1,412,023,000 |
Property, plant, and equipment, net (Note 6) | 281,394,000 | 279,650,000 |
Intangible assets, net (Note 7) | 129,555,000 | 133,438,000 |
Goodwill (Note 7) | 68,594,000 | 68,594,000 |
Deferred income taxes (Note 10) | 56,804,000 | 92,494,000 |
Other non-current assets | 27,058,000 | 27,695,000 |
Total assets | 2,212,902,000 | 2,013,894,000 |
LIABILITIES AND EQUITY | ||
Accounts payable | 252,301,000 | 215,048,000 |
Accrued liabilities (Note 9) | 182,228,000 | 142,158,000 |
Income taxes payable (Note 10) | 19,107,000 | 5,645,000 |
Total current liabilties | 453,636,000 | 362,851,000 |
Note payable to related party (Note 21) | 0 | 14,053,000 |
Other long-term liabilities (Notes 11, 12) | 48,735,000 | 42,622,000 |
Income taxes payable (Note 10) | 58,104,000 | 12,710,000 |
Deferred income taxes (Note 10) | 168,000 | 147,000 |
Total liabilities | 560,643,000 | 432,383,000 |
Commitments and contingencies (Note 13) | ||
Shareholders' Equity: | ||
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock (no par value); 125,000 shares authorized; 69,995 and 69,873 issued and outstanding (Note 14) | 45,829,000 | 53,801,000 |
Retained earnings | 1,585,009,000 | 1,529,636,000 |
Accumulated other comprehensive income (Note 17) | (8,887,000) | (22,617,000) |
Total Columbia Sportswear Company shareholders' equity | 1,621,951,000 | 1,560,820,000 |
Non-controlling interest (Note 4) | 30,308,000 | 20,691,000 |
Total equity | 1,652,259,000 | 1,581,511,000 |
Total liabilities and equity | $ 2,212,902,000 | $ 2,013,894,000 |
Consolidated Balance Sheets Con
Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands, $ / shares in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares authorized | 125,000 | 125,000 |
Common stock, shares issued | 69,995 | 69,873 |
Common stock, shares outstanding | 69,995 | 69,873 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net sales | $ 2,466,105,000 | $ 2,377,045,000 | $ 2,326,180,000 |
Cost of sales | 1,306,143,000 | 1,266,697,000 | 1,252,680,000 |
Gross profit | 1,159,962,000 | 1,110,348,000 | 1,073,500,000 |
Selling, general and administrative expenses | 910,894,000 | 864,084,000 | 831,971,000 |
Net licensing income | 13,901,000 | 10,244,000 | 8,192,000 |
Income from operations | 262,969,000 | 256,508,000 | 249,721,000 |
Interest income, net | 4,515,000 | 2,003,000 | 1,531,000 |
Interest expense on note payable to related party (Note 21) | (429,000) | (1,041,000) | (1,099,000) |
Other non-operating expense | (321,000) | (572,000) | (2,834,000) |
Income before income tax | 266,734,000 | 256,898,000 | 247,319,000 |
Income tax expense (Note 10) | (154,419,000) | (58,459,000) | (67,468,000) |
Net income | 112,315,000 | 198,439,000 | 179,851,000 |
Net income attributable to non-controlling interest | 7,192,000 | 6,541,000 | 5,514,000 |
Net income attributable to Columbia Sportswear Company | $ 105,123,000 | $ 191,898,000 | $ 174,337,000 |
Earnings per share attributable to Columbia Sportswear Company (Note 16) | |||
Basic | $ 1.51 | $ 2.75 | $ 2.48 |
Diluted | $ 1.49 | $ 2.72 | $ 2.45 |
Weighted average shares outstanding (Note 16): | |||
Basic | 69,759 | 69,683 | 70,162 |
Diluted | 70,453 | 70,632 | 71,064 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 112,315 | $ 198,439 | $ 179,851 |
Other comprehensive loss: | |||
Unrealized holding losses on available-for-sale securities (net of tax effects of $0, $0 and ($3), respectively) | 0 | (2) | (6) |
Unrealized gains (losses) on derivative transactions (net of tax effects of $8,176, ($1,922) and ($849), respectively) | (18,005) | 843 | (2,908) |
Foreign currency translation adjustments (net of tax effects of $4, ($347) and ($760), respectively) | 34,160 | (4,485) | (34,887) |
Other comprehensive loss | 16,155 | (3,644) | (37,801) |
Comprehensive income | 128,470 | 194,795 | 142,050 |
Comprehensive income attributable to non-controlling interest | 9,617 | 4,678 | 4,382 |
Comprehensive income attributable to Columbia Sportswear Company | $ 118,853 | $ 190,117 | $ 137,668 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized holding losses on available-for-sale securities, tax effect | $ 0 | $ 0 | $ (3) |
Unrealized gains (losses) on derivative transactions, tax effect | 8,176 | (1,922) | (849) |
Foreign currency translation adjustment, tax effect | $ 4 | $ (347) | $ (760) |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income | $ 112,315 | $ 198,439 | $ 179,851 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 59,945 | 60,016 | 56,521 |
Loss on disposal or impairment of property, plant, and equipment | 1,927 | 4,805 | 5,098 |
Deferred income taxes | 44,851 | (19,178) | (11,709) |
Stock-based compensation | 11,286 | 10,986 | 11,672 |
Excess tax benefit from employee stock plans | 0 | 0 | (7,873) |
Changes in operating assets and liabilities: | |||
Accounts receivable | (24,197) | 36,710 | (40,419) |
Inventories | 46,662 | (18,777) | (103,296) |
Prepaid expenses and other current assets | (19,241) | (5,452) | 4,411 |
Other assets | 931 | (5,948) | (2,524) |
Accounts payable | 30,568 | 1,483 | 11,418 |
Accrued liabilities | 11,581 | 4,847 | (2,017) |
Income taxes payable | 58,702 | 4,768 | (10,994) |
Other liabilities | 5,798 | 2,468 | 4,966 |
Net cash provided by operating activities | 341,128 | 275,167 | 95,105 |
Cash flows from investing activities: | |||
Purchases of short-term investments | (130,993) | (21,263) | (38,208) |
Sales of short-term investments | 36,282 | 21,263 | 64,980 |
Capital expenditures | (53,352) | (49,987) | (69,917) |
Proceeds from sale of property, plant, and equipment | 279 | 97 | 144 |
Net cash used in investing activities | (147,784) | (49,890) | (43,001) |
Cash flows from financing activities: | |||
Proceeds from credit facilities | 3,374 | 62,885 | 53,429 |
Repayments on credit facilities | (3,374) | (64,825) | (51,479) |
Proceeds from issuance of common stock under employee stock plans | 19,946 | 13,167 | 17,442 |
Tax payments related to restricted stock unit issuances | (3,662) | (5,117) | (4,895) |
Excess tax benefit from employee stock plans | 0 | 0 | 7,873 |
Repurchase of common stock | (35,542) | (11) | (70,068) |
Cash dividends paid | (50,909) | (48,122) | (43,547) |
Repayments of Related Party Debt | 14,236 | 0 | 0 |
Net cash used in financing activities | (84,403) | (42,023) | (91,245) |
Net effect of exchange rate changes on cash | 12,836 | (1,635) | (4,647) |
Net increase (decrease) in cash and cash equivalents | 121,777 | 181,619 | (43,788) |
Cash and cash equivalents, beginning of year | 551,389 | 369,770 | 413,558 |
Cash and cash equivalents, end of year | 673,166 | 551,389 | 369,770 |
Supplemental disclosures of cash flow information: | |||
Cash paid during the year for income taxes | 81,045 | 70,424 | 87,350 |
Interest Paid | 685 | 1,049 | 1,115 |
Supplemental disclosures of non-cash investing activities: | |||
Capital expenditures incurred but not yet paid | $ 3,188 | $ 2,710 | $ 4,698 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Non-controlling Interest [Member] |
Balance at Dec. 31, 2014 | $ 1,355,234,000 | $ 72,700,000 | $ 1,255,070,000 | $ 15,833,000 | $ 11,631,000 |
Net income | 179,851,000 | 174,337,000 | 5,514,000 | ||
Other comprehensive income (loss): | |||||
Unrealized holding losses on available-for-sale securities, net | (6,000) | (6,000) | |||
Unrealized gains (losses) on derivative transactions, net | (2,908,000) | (2,908,000) | |||
Foreign currency translation adjustments, net | (34,887,000) | (33,755,000) | (1,132,000) | ||
Cash dividends | (43,547,000) | (43,547,000) | |||
Issuance of common stock under employee stock plans, net | 12,547,000 | 12,547,000 | |||
Tax adjustment from stock plans | 7,925,000 | 7,925,000 | |||
Stock-based compensation expense | 11,672,000 | 11,672,000 | |||
Repurchase of common stock | (70,068,000) | (70,068,000) | |||
Balance at Dec. 31, 2015 | 1,415,813,000 | $ 34,776,000 | 1,385,860,000 | (20,836,000) | 16,013,000 |
Balance, shares at Dec. 31, 2014 | 69,828 | ||||
Other comprehensive income (loss): | |||||
Issuance of common stock under employee stock plans, net (in shares) | 835 | ||||
Repurchase of common stock (in shares) | (1,386) | ||||
Balance, shares at Dec. 31, 2015 | 69,277 | ||||
Net income | 198,439,000 | 191,898,000 | 6,541,000 | ||
Other comprehensive income (loss): | |||||
Unrealized holding losses on available-for-sale securities, net | (2,000) | (2,000) | |||
Unrealized gains (losses) on derivative transactions, net | 843,000 | 686,000 | 157,000 | ||
Foreign currency translation adjustments, net | (4,485,000) | (2,465,000) | (2,020,000) | ||
Cash dividends | (48,122,000) | (48,122,000) | |||
Issuance of common stock under employee stock plans, net | 8,050,000 | $ 8,050,000 | |||
Stock-based compensation expense | 10,986,000 | 10,986,000 | |||
Repurchase of common stock | (11,000) | (11,000) | |||
Balance at Dec. 31, 2016 | $ 1,581,511,000 | $ 53,801,000 | 1,529,636,000 | (22,617,000) | 20,691,000 |
Other comprehensive income (loss): | |||||
Issuance of common stock under employee stock plans, net (in shares) | 596 | ||||
Balance, shares at Dec. 31, 2016 | 69,873 | 69,873 | |||
Net income | $ 112,315,000 | 105,123,000 | 7,192,000 | ||
Other comprehensive income (loss): | |||||
Unrealized holding losses on available-for-sale securities, net | 0 | ||||
Unrealized gains (losses) on derivative transactions, net | (16,846,000) | 1,159,000 | (17,489,000) | (516,000) | |
Foreign currency translation adjustments, net | 34,160,000 | 31,219,000 | 2,941,000 | ||
Cash dividends | (50,909,000) | (50,909,000) | |||
Issuance of common stock under employee stock plans, net | 16,284,000 | $ 16,284,000 | |||
Stock-based compensation expense | 11,286,000 | 11,286,000 | |||
Repurchase of common stock | (35,542,000) | (35,542,000) | |||
Balance at Dec. 31, 2017 | $ 1,652,259,000 | $ 45,829,000 | $ 1,585,009,000 | $ (8,887,000) | $ 30,308,000 |
Other comprehensive income (loss): | |||||
Issuance of common stock under employee stock plans, net (in shares) | 787 | ||||
Repurchase of common stock (in shares) | (665) | ||||
Balance, shares at Dec. 31, 2017 | 69,995 | 69,995 |
Consolidated Statements of Sha9
Consolidated Statements of Shareholders' Equity Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash dividends per share | $ 0.73 | $ 0.69 | $ 0.62 |
Basis of Presentation and Organ
Basis of Presentation and Organization | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Organization | BASIS OF PRESENTATION AND ORGANIZATION Nature of the business: Columbia Sportswear Company is a global leader in the design, sourcing, marketing, and distribution of outdoor and active lifestyle apparel, footwear, accessories, and equipment. Principles of consolidation: The Consolidated Financial Statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest (the "Company"). All intercompany balances and transactions have been eliminated in consolidation. Estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, excess, slow-moving and close-out inventories, product warranty, long-lived and intangible assets, goodwill, income taxes, and stock-based compensation. Changes affecting comparability: Effective January 1, 2016, the Company early-adopted Accounting Standards Update ("ASU") No. 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which simplified how several aspects of share-based payments are accounted for and presented in the financial statements. 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 Consolidated Statements of Operations, resulting in the recognition of excess tax benefits of $6,082,000 and $5,499,000 in income tax expense, rather than in paid-in capital, for the years ended December 31, 2017 and 2016, respectively. If we had retrospectively adopted this guidance, we would have recognized excess tax benefits of $7,925,000 in income tax expense, rather than in paid-in capital, for the year ended December 31, 2015. 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 elected to apply the cash flow classification guidance of ASU 2016-09 prospectively, resulting in an increase to operating cash flow of $6,227,000 and $5,538,000 for the years ended December 31, 2017 and 2016, respectively, and the year ended December 31, 2015 has not been adjusted. The Company 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 159,387 and 240,016 shares for the years ended December 31, 2017 and 2016, respectively. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and cash equivalents: Cash and cash equivalents are stated at fair value or at cost, which approximates fair value, and include investments with original maturities of 90 days or less at the date of acquisition. At December 31, 2017 , cash and cash equivalents consisted of cash, money market funds, time deposits, U.S. government treasury bills, and U.S. government -backed municipal bonds. At December 31, 2016, cash and cash equivalents consisted of cash, money market funds and time deposits. Investments: At December 31, 2017 , short-term investments consisted of U.S. government treasury bills and U.S. government-backed municipal bonds, as well as mutual fund share investments held as part of the Company's deferred compensation plan expected to be distributed in the next twelve months. The U.S. government treasury bills and U.S. government-backed municipal bonds are classified as available-for-sale securities and are recorded at fair value with any unrealized gains and losses reported, net of tax, in other comprehensive income. Investments held as part of the Company's deferred compensation plan are classified as trading securities and are recorded at fair value with any unrealized gains and losses reported in operating income. Realized gains or losses are determined based on the specific identification method. At December 31, 2016 , short-term investments consisted of mutual fund share investments held as part of the Company's deferred compensation plan expected to be distributed in the next twelve months. At December 31, 2017 and 2016 , long-term investments included in other non-current assets consisted of mutual fund shares held to offset liabilities to participants in the Company's deferred compensation plan. The investments are classified as long-term because the related deferred compensation liabilities are not expected to be paid within the next year. These investments are classified as trading securities and are recorded at fair value with unrealized gains and losses reported as a component of operating income. Accounts receivable: Accounts receivable have been reduced by an allowance for doubtful accounts. The Company makes ongoing estimates of the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of the Company's customers to make required payments. Inventories: Inventories consist primarily of finished goods and are carried at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company periodically reviews its inventories for excess, close-out or slow moving items and makes provisions as necessary to properly reflect inventory value. Property, plant and equipment: Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The principal estimated useful lives are: land improvements, 15 years; buildings and building improvements, 15 - 30 years; furniture and fixtures, 3 - 10 years; and machinery, software and equipment, 3 - 10 years. Leasehold improvements are depreciated over the lesser of the estimated useful life of the improvement, which is most commonly 7 years, or the remaining term of the underlying lease. Improvements to property, plant and equipment that substantially extend the useful life of the asset are capitalized. Repair and maintenance costs are expensed as incurred. Internal and external costs directly related to the development of internal-use software during the application development stage, including costs incurred for third party contractors and employee compensation, are capitalized and depreciated over a 3 - 10 year estimated useful life. Impairment of long-lived assets: Long-lived assets are amortized over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. In these cases, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges for long-lived assets are included in SG&A expense and were $1,401,000 , $4,310,000 and $4,171,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Charges during the years ended December 31, 2017, 2016 and 2015 were recorded in the United States and LAAP regions for certain underperforming retail stores. Intangible assets and goodwill: Intangible assets with indefinite useful lives and goodwill are not amortized but are periodically evaluated for impairment. Intangible assets that are determined to have finite lives are amortized using the straight-line method over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. Impairment of intangible assets and goodwill: The Company reviews and tests its intangible assets with indefinite useful lives and goodwill for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company's intangible assets with indefinite lives consist of trademarks and trade names. Substantially all of the Company's goodwill is recorded in the United States segment and impairment testing for goodwill is performed at the reporting unit level. In the impairment test for goodwill, the two-step process first compares the estimated fair value of the reporting unit with the carrying amount of that reporting unit. The Company estimates the fair value of its reporting units using a combination of discounted cash flow analysis, comparisons with the market values of similar publicly traded companies and other operating performance based valuation methods, as necessary. If step one indicates impairment, step two compares the estimated fair value of the reporting unit to the estimated fair value of all reporting unit assets and liabilities, except goodwill, to determine the implied fair value of goodwill. The Company calculates impairment as the excess of carrying amount of goodwill over the implied fair value of goodwill. In the impairment tests for trademarks and trade names, the Company compares the estimated fair value of each asset to its carrying amount. The fair values of trademarks and trade names are generally estimated using a relief from royalty method under the income approach. If the carrying amount of a trademark or trade name exceeds its estimated fair value, the Company calculates impairment as the excess of carrying amount over the estimate of fair value. If events or circumstances indicate the carrying value of intangible assets with finite lives may be impaired, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges, if any, are classified as a component of SG&A expense. The impairment tests and related fair value estimates are based on a number of factors, including assumptions and estimates for projected sales, income, cash flows, discount rates, remaining useful lives, and other operating performance measures. Changes in estimates or the application of alternative assumptions could produce significantly different results. These assumptions and estimates may change in the future due to changes in economic conditions, changes in the Company's ability to meet sales and profitability objectives or changes in the Company's business operations or strategic direction. Our 2017 impairment tests of goodwill and intangible assets with indefinite lives indicated that the estimated fair value of all reporting units and intangible assets with indefinite lives exceeded their respective carrying values by more than 20%. Income taxes: Income taxes are provided on financial statement earnings for financial reporting purposes. Income taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pre-tax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. Accrued income taxes in the Consolidated Balance Sheets include unrecognized income tax benefits relating to uncertain tax positions, including related interest and penalties, appropriately classified as current or noncurrent. The Company recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. In making this determination, the Company assumes that the taxing authority will examine the position and that it will have full knowledge of all relevant information. The provision for income taxes also includes estimates of interest and penalties related to uncertain tax positions. Derivatives: The effective portion of changes in fair values of outstanding cash flow hedges is recorded in other comprehensive income until earnings are affected by the hedged transaction, and any ineffective portion is included in current income. In most cases amounts recorded in other comprehensive income will be released to earnings after maturity of the related derivative. The Consolidated Statements of Operations classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of product costs are recorded in cost of sales when the underlying hedged transactions affect earnings. Results of hedges of revenue are recorded in net sales when the underlying hedged transactions affect earnings. Unrealized derivative gains and losses, which are recorded in assets and liabilities, respectively, are non-cash items and therefore are taken into account in the preparation of the Consolidated Statements of Cash Flows based on their respective balance sheet classifications. Refer to Note 19 for more information on derivatives and risk management. Foreign currency translation: The assets and liabilities of the Company's foreign subsidiaries have been translated into U.S. dollars using the exchange rates in effect at period end, and the net sales and expenses have been translated into U.S. dollars using average exchange rates in effect during the period. The foreign currency translation adjustments are included as a separate component of accumulated other comprehensive income in shareholders' equity. Revenue recognition: The Company records wholesale, distributor, e-commerce and licensed product revenues when title passes and the risks and rewards of ownership have passed to the customer. Title generally passes upon shipment to, or upon receipt by, the customer depending on the terms of sale with the customer. Retail store revenues are recorded at the time of sale. Revenue is recorded net of sales taxes, value added taxes or similar taxes which are collected on behalf of local taxing authorities. Where title passes upon receipt by the customer, predominantly in the Company's European wholesale business, Japan and in certain of our direct ship and e-commerce transactions, precise information regarding the date of receipt by the customer is not readily available. In these cases, the Company estimates the date of receipt by the customer based on historical and expected delivery times by geographic location. The Company periodically tests the accuracy of these estimates based on actual transactions. Delivery times vary by geographic location, generally from one to seven days. To date, the Company has found these estimates to be materially accurate. At the time of revenue recognition, the Company also provides for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims as well as events and circumstances that indicate changes to historical rates of returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from the estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that have been established, the Company would record a reduction or increase to net revenues in the period in which it made such determination. Cost of sales: The expenses that are included in cost of sales include all direct product costs related to shipping, duties and importation. Specific provisions for excess, close-out or slow moving inventory are also included in cost of sales. In addition, some of the Company's products carry limited warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company's history of warranty repairs and replacements and is recorded in cost of sales. Selling, general and administrative expense: SG&A expense consists of personnel-related costs, advertising, depreciation, occupancy, and other selling and general operating expenses related to the Company's business functions, including planning, receiving finished goods, warehousing, distribution, retail operations and information technology. Shipping and handling costs: Shipping and handling fees billed to customers and consumers are recorded as revenue. The direct costs associated with shipping goods to customers and consumers are recorded as cost of sales. Inventory planning, receiving, storing and handling costs are recorded as a component of SG&A expenses and were $73,880,000 , $65,757,000 and $61,338,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Stock-based compensation: Stock-based compensation cost is estimated at the grant date based on the award's fair value and is recognized as expense over the requisite service period using the straight-line attribution method. The Company estimates stock-based compensation for stock options granted using the Black-Scholes option pricing model, which requires various subjective assumptions, including volatility and expected option life. Further, the Company estimates forfeitures for stock-based awards granted which are not expected to vest. For restricted stock unit awards subject to performance conditions, the amount of compensation expense recorded in a given period reflects the Company's assessment of the probability of achieving its performance targets. If any of these inputs or assumptions changes significantly, stock-based compensation expense may differ materially in the future from that recorded in the current period. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company's experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. Advertising costs: Advertising costs are expensed in the period incurred and are included in SG&A expenses. Total advertising expense, including cooperative advertising costs, was $121,839,000 , $118,663,000 and $120,764,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Through cooperative advertising programs, the Company reimburses its wholesale customers for some of their costs of advertising the Company's products based on various criteria, including the value of purchases from the Company and various advertising specifications. Cooperative advertising costs are included in expenses because the Company receives an identifiable benefit in exchange for the cost, the advertising may be obtained from a party other than the customer, and the fair value of the advertising benefit can be reasonably estimated. Cooperative advertising costs were $6,555,000 , $8,699,000 and $10,008,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers Topic 606 , outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. The updated guidance, and subsequent clarifications, require an entity to recognize revenue when it transfers control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the guidance requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company is adopting this standard effective January 1, 2018, utilizing the modified retrospective approach, with the immaterial cumulative effect of initially applying the new standard recognized in retained earnings. The new standard primarily impacts the following areas: fees paid to or retained by third parties in conjunction with certain concession-based retail arrangements, historically comprising approximately 2% of net sales, will be classified as a component of SG&A expenses; wholesale sales returns reserves, estimated chargebacks and markdowns, and other provisions for customer refunds will be presented as accrued liabilities rather than netted within accounts receivable; and the estimated cost of inventory associated with sales returns reserves will be presented within other current assets rather than inventories. The Company expects the timing of revenue recognition for its significant revenue streams to remain substantially unchanged, with no material effect on net sales. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , an update to its accounting guidance related to the recognition and measurement of certain financial instruments. This 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. The Company is adopting this standard effective January 1, 2018, and does not anticipate a material effect on the Company's financial position, results of operations or cash flows. In February 2016, the FASB issued ASU No. 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 most leases previously classified as operating leases. This standard is effective beginning in the first quarter of 2019, with early adoption permitted. The Company is evaluating the impact of this guidance and expects the adoption will result in a material increase in the assets and liabilities on the Company's consolidated balance sheets and is not expected to have a material impact on the Company's consolidated statements of operations or cash flows. 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 effect on the Company's financial position, results of operations or cash flows. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory , which requires the recognition of the income tax effects of an intra-entity transfer of an asset, other than inventory, when the transfer occurs, eliminating an exception under current GAAP in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company is adopting this standard effective January 1, 2018 by applying the required modified retrospective approach with an initial estimated cumulative-effect adjustment to retained earnings of certain previously deferred tax benefits of $11,181,000, which is subject to change as the Company finalizes its accounting for the effects of the enactment of the TCJA described in Note 10. The Company anticipates the adoption of this standard will result in increased volatility in its future effective income tax rate. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Under this guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. This standard is effective beginning in the first quarter of 2019, with early adoption permitted. The Company is evaluating the impact and expects the adoption of ASU 2017-04 to affect the amount and timing of future goodwill impairment charges, if any. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which simplifies the application of hedge accounting guidance to better portray the economic results of risk management activities in the financial statements. The guidance aligns the recognition and presentation of the effects of hedging instruments and hedged items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The Company is early-adopting the standard utilizing the required modified retrospective transition method effective January 1, 2018. The adoption of this standard will not have a material effect on the Company's financial position, results of operations or cash flows. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Subtopic 220) , that permits a reclassification from accumulated other comprehensive income (loss) to retained earnings of the stranded tax effects resulting from application of the new federal corporate income tax rate. The Company early adopted this new standard during the fourth quarter of 2017 utilizing the portfolio approach, which resulted in an increase to retained earnings and corresponding decrease to accumulated other comprehensive income (loss) of $1,159,000 due to a change in the U.S. federal income tax rate from 35% to 21% as a result of the TCJA. |
Concentrations
Concentrations | 12 Months Ended |
Dec. 31, 2017 | |
Risks and Uncertainties [Abstract] | |
Concentrations | CONCENTRATIONS Trade receivables The Company had one customer that accounted for approximately 12.3% and 15.9% of consolidated accounts receivable at December 31, 2017 and 2016 , respectively. No single customer accounted for 10% or more of consolidated revenues for any of the years ended December 31, 2017 , 2016 or 2015 . Derivatives The Company uses derivative instruments to hedge the currency exchange rate risk of anticipated transactions denominated in non-functional currencies that are designated and qualify as cash flow hedges. The Company also uses derivative instruments to economically hedge the currency exchange rate risk of certain investment positions, to hedge balance sheet re-measurement risk and to hedge other anticipated transactions that do not qualify as cash flow hedges. At December 31, 2017 , the Company's derivative contracts had remaining maturities 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 $2,000,000 at December 31, 2017 . All of the Company's derivative counterparties have investment grade credit ratings. Refer to Note 19 for further disclosures concerning derivatives. Country and supplier concentrations The Company's products are produced by contract manufacturers located outside the United States, principally in Southeast Asia. Apparel is manufactured in approximately 19 countries, with Vietnam and China together accounting for approximately 64% of 2017 global apparel production. Footwear is manufactured in five countries, with China and Vietnam accounting for substantially all of 2017 global footwear production. The five largest apparel factory groups accounted for approximately 29% of 2017 global apparel production, with the largest factory group accounting for 10% of 2017 global apparel production. The five largest footwear factory groups accounted for approximately 75% of 2017 global footwear production, with the largest factory group accounting for 34% of 2017 global footwear production. These companies have multiple factory locations, many of which are in different countries, thus reducing the risk that unfavorable conditions at a single factory or location will have a material adverse effect on the Company. |
Non-Controlling Interest
Non-Controlling Interest | 12 Months Ended |
Dec. 31, 2017 | |
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"), which began operations on January 1, 2014, to support the development and operation of the Company's business in China. The accounts and operations of the joint venture are included in the Consolidated Financial Statements for the years ended December 31, 2017, 2016 and 2015. Swire's share of the net income of the joint venture is included in net income attributable to non-controlling interest in the Consolidated Statements of Operations. The non-controlling equity interest in the joint venture is presented separately in the Consolidated Balance Sheets and Consolidated Statements of Equity. |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Accounts Receivable, Net | ACCOUNTS RECEIVABLE, NET Accounts receivable, net, is as follows (in thousands): December 31, 2017 2016 Trade accounts receivable $ 373,905 $ 342,234 Allowance for doubtful accounts (9,043 ) (8,556 ) Accounts receivable, net $ 364,862 $ 333,678 |
Property, Plant, and Equipment,
Property, Plant, and Equipment, Net | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment, Net | PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consisted of the following (in thousands): December 31, 2017 2016 Land and improvements $ 21,065 $ 20,862 Buildings and improvements 173,919 165,746 Machinery, software and equipment 322,032 301,566 Furniture and fixtures 83,613 79,103 Leasehold improvements 121,949 107,574 Construction in progress 14,627 13,475 737,205 688,326 Less accumulated depreciation (455,811 ) (408,676 ) $ 281,394 $ 279,650 |
Intangible Assets, Net and Good
Intangible Assets, Net and Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net and Goodwill | INTANGIBLE ASSETS, NET AND GOODWILL Intangible assets that are determined to have finite lives include patents, purchased technology 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. At December 31, 2017 and 2016 , the Company determined that its goodwill and intangible assets were not impaired. Intangible assets The following table summarizes the Company's identifiable intangible assets balance (in thousands): December 31, 2017 2016 Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 Customer relationships 23,000 23,000 Gross carrying amount 37,198 37,198 Accumulated amortization: Patents and purchased technology (10,651 ) (9,321 ) Customer relationships (12,413 ) (9,860 ) Accumulated amortization (23,064 ) (19,181 ) Net carrying amount 14,134 18,017 Intangible assets not subject to amortization 115,421 115,421 Intangible assets, net $ 129,555 $ 133,438 Amortization expense was $3,883,000 for the year ended December 31, 2017 , and was $5,146,000 for both of the years ended December 31, 2016 and 2015 . Annual amortization expense is estimated to be as follows for the years 2018 through 2022 (in thousands): 2018 $ 2,980 2019 2,980 2020 2,537 2021 1,650 2022 1,650 |
Short-Term Borrowings and Credi
Short-Term Borrowings and Credit Lines | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings and Credit Lines | SHORT-TERM BORROWINGS AND CREDIT LINES The Company has an unsecured, committed revolving line of credit with monthly variable commitments available for funding that average $100,000,000 . The maturity date of this agreement is July 1, 2021 . Interest, payable monthly, is based on the Company's applicable funded debt ratio, which could range from USD LIBOR plus 87.5 basis points to USD LIBOR plus 162.5 basis points. This line of credit requires the Company to comply with certain financial covenants covering net income, funded debt ratio, fixed charge coverage ratio, and borrowing basis. If the Company is in default, it is prohibited from paying dividends or repurchasing common stock. At December 31, 2017 , the Company was in compliance with all associated covenants. At December 31, 2017 and 2016 , no balance was outstanding under this line of credit. The Company's Canadian subsidiary has available an unsecured and uncommitted line of credit guaranteed by the parent company providing for borrowing up to a maximum of CAD $30,000,000 ( US$23,866,000 ) at December 31, 2017 . The revolving line accrues interest at the bank's Canadian prime rate . At December 31, 2017 and 2016 no balance was outstanding under this line of credit. The Company's European subsidiary has available two separate unsecured and uncommitted lines of credit guaranteed by the parent company providing for borrowing up to a maximum of €25,800,000 and €5,000,000 , respectively (combined US$36,784,000 ), at December 31, 2017 . These lines accrue interest based on the European Central Bank refinancing rate plus 100 basis points and the Euro Overnight Index Average plus 75 basis points, respectively. There was no balance outstanding under either line at December 31, 2017 or 2016 . The Company's Japanese subsidiary has two separate unsecured and uncommitted lines of credit guaranteed by the parent company providing for borrowing up to a maximum of US$7,000,000 and ¥300,000,000 , respectively (combined US$9,658,000 ), at December 31, 2017 . These lines accrue interest at JPY LIBOR plus 100 basis points and the Bank of Tokyo Prime Rate, respectively. There was no balance outstanding under either line at December 31, 2017 or 2016 . The Company's Korean subsidiary has available an unsecured and uncommitted line of credit guaranteed by the parent company providing for borrowing up to a maximum of US$20,000,000 . The revolving line accrues interest at the Korean three-month CD rate plus 220 basis points . There was no balance outstanding under this line at December 31, 2017 or 2016 . |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities, Current [Abstract] | |
Accrued Liabilities | ACCRUED LIABILITIES Accrued liabilities consisted of the following (in thousands): December 31, 2017 2016 Accrued salaries, bonus, paid time off and other benefits $ 79,457 $ 66,227 Accrued import duties 12,420 14,366 Product warranties 12,339 11,455 Other 78,012 50,110 $ 182,228 $ 142,158 A reconciliation of product warranties is as follows (in thousands): Year Ended December 31, 2017 2016 2015 Balance at beginning of year $ 11,455 $ 11,487 $ 11,148 Provision for warranty claims 4,538 3,802 4,560 Warranty claims (4,210 ) (3,726 ) (3,708 ) Other 556 (108 ) (513 ) Balance at end of year $ 12,339 $ 11,455 $ 11,487 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES On December 22, 2017, the U.S. Government enacted comprehensive tax legislation, commonly referred to as the Tax Cuts and Jobs Act ("TCJA"). The TCJA makes broad and complex changes to the U.S. tax code, including, but not limited to: • reducing the U.S. federal corporate tax rate from 35% to 21%; • requiring companies to pay a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries; • generally eliminating U.S. federal income taxes on dividends from foreign subsidiaries; • requiring a current inclusion in U.S. federal taxable income of certain earnings of controlled foreign corporations; • eliminating the corporate alternative minimum tax ("AMT") and changing how existing AMT credits can be realized; • creating the base erosion anti-abuse tax; • a new provision designed to tax global intangible low-taxed income ("GILTI"); • creating a new limitation on deductible interest expense; and • changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017. In conjunction with the enactment of the TCJA, the SEC staff issued Staff Accounting Bulletin 118 ("SAB 118"), which provides guidance on accounting for the tax effects of the TCJA. SAB 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the accounting for the effects of the TCJA. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the TCJA for which the accounting is complete. To the extent that a company’s accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply its accounting on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the TCJA. In connection with the Company's initial analysis of the impact of the TCJA, the Company recorded an incremental provisional net tax expense of $95,610,000 during the year ended December 31, 2017. For various reasons that are discussed more fully below, the Company has not completed all of the accounting for the income tax effects of certain elements of the TCJA. In cases where the Company was able to make reasonable estimates of the effects of elements for which the analysis is not yet complete, it recorded provisional amounts for those specific tax affects. The Company has not recorded any adjustments related to those elements for which a reasonable estimate of the tax affects cannot be made, and has continued accounting for those elements on the basis of the tax laws in effect before the TCJA. The Company's accounting for the following elements of the TCJA is incomplete. However, the Company was able to determine reasonable estimates of certain effects and, therefore, recorded provisional amounts as follows: Reduction of U.S. federal corporate tax rate: The TCJA reduces the U.S. federal corporate tax rate from 35% to 21%, effective January 1, 2018. For certain of the Company's deferred tax assets and liabilities, the Company has recorded a provisional decrease to net deferred tax assets of $15,017,000 , with a corresponding charge to deferred income tax expense of $15,017,000 for the year ended December 31, 2017. While the Company is able to make a reasonable estimate of the impact of the reduction in the U.S. corporate rate, it may be affected by other analyses related to the TCJA, including, but not limited to, the Company's calculation of deemed repatriation of foreign income and the state tax effect of adjustments made to federal temporary differences. Transition tax on foreign earnings: The Deemed Repatriation Transition Tax ("Transition Tax") is a U.S. tax on previously untaxed accumulated and current earnings and profits ("E&P") of certain of the Company's foreign subsidiaries. To determine the amount of the Transition Tax, the Company must determine, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. The Company is able to make a reasonable estimate of the Transition Tax and recorded a provisional Transition Tax obligation of $49,947,000 . However, the Company is continuing to gather additional information to more precisely compute the amount of the Transition Tax, including a detailed analysis of E&P data of relevant subsidiaries. The Transition Tax will be paid over an eight year period. Deferred tax liability associated with future repatriations: The Company has recorded a provisional estimate of $23,690,000 related to potential withholding tax on future repatriations of foreign earnings. The amount is provisional until additional analysis of the effect of the TCJA has been completed and the Company has further analyzed its applicable foreign earnings. Disallowance of foreign tax credits: The Company recorded dividends in 2017 from its foreign subsidiaries for which certain foreign tax credits are no longer allowable under the TCJA. As a result, the Company recorded an additional provisional $6,956,000 of income tax expense, which could be affected by further analysis of the TCJA. The Company's accounting for the following elements of the TCJA is incomplete and the Company was not able to determine reasonable estimates of certain effects and, therefore, did not record any provisional adjustments: Global intangible low-taxed income tax: An estimate has not been recorded related to the new GILTI tax under the TCJA because of the complexity of the new tax rules and the lack of clarity surrounding the application of the relevant accounting guidance. The Company's selection of an accounting policy with respect to the GILTI tax rules will depend, in part, on analyzing the Company's global income to determine whether the Company expects to have future U.S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. As a result, the Company is not yet able to reasonably estimate the effect of this provision of the TCJA and has not made an accounting policy election or recorded any amounts related to potential GILTI tax in the Company's financial statements. Consolidated income from continuing operations before income taxes consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 U.S. operations $ 167,380 $ 173,798 $ 173,966 Foreign operations 99,354 83,100 73,353 Income before income tax $ 266,734 $ 256,898 $ 247,319 The components of the provision (benefit) for income taxes consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Current: Federal $ 87,386 $ 53,840 $ 61,211 State and local 443 6,370 6,520 Non-U.S. 28,708 18,708 21,014 116,537 78,918 88,745 Deferred: Federal 47,087 (12,921 ) (8,883 ) State and local 4,990 (2,166 ) (906 ) Non-U.S. (14,195 ) (5,372 ) (11,488 ) 37,882 (20,459 ) (21,277 ) Income tax expense $ 154,419 $ 58,459 $ 67,468 The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements: Year Ended December 31, 2017 2016 2015 (percent of income) Provision for federal income taxes at the statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal benefit 0.4 1.5 2.2 Non-U.S. income taxed at different rates (7.8 ) (5.8 ) (3.9 ) Foreign tax credits (0.1 ) (3.0 ) (1.7 ) Foreign deferred tax asset (3.0 ) (2.5 ) — Reduction of unrecognized tax benefits — — (0.8 ) Research credits (0.7 ) (0.8 ) (0.9 ) Reduction of valuation allowance — — (2.7 ) Excess tax benefits from stock plans (2.3 ) (2.1 ) — Other 0.5 0.5 0.1 Actual provision for income taxes, pre-TCJA 22.0 22.8 27.3 Effects of the TCJA: Reduction of U.S. federal corporate tax rate 5.6 — — Transition tax on foreign earnings 18.7 — — Deferred tax liability associated with future repatriations 8.9 — — Foreign tax credits 2.7 — — Provision for income taxes related to the TCJA 35.9 — — Actual provision for income taxes 57.9 % 22.8 % 27.3 % Significant components of the Company's deferred taxes consisted of the following (in thousands): December 31, 2017 2016 Deferred tax assets: Accruals and allowances $ 37,971 $ 51,724 Capitalized inventory costs 21,625 39,661 Stock compensation 3,867 6,476 Net operating loss carryforwards 20,085 3,637 Depreciation and amortization 25,020 19,313 Tax credits 31 443 Foreign currency gain 5,657 — Other 276 263 Gross deferred tax assets 114,532 121,517 Valuation allowance (16,428 ) (1,323 ) Net deferred tax assets 98,104 120,194 Deferred tax liabilities: Depreciation and amortization (15,395 ) (25,703 ) Prepaid expenses (2,383 ) — Deferred tax liability associated with future repatriations (23,690 ) — Foreign currency loss — (667 ) Other — (1,477 ) Gross deferred tax liabilities (41,468 ) (27,847 ) Total net deferred taxes $ 56,636 $ 92,347 The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The Company has foreign net operating loss carryforwards of $72,297,000 as of December 31, 2017 , of which $59,943,000 have an unlimited carryforward period and $ 15,354,000 expire between 2025 and 2027 . The net operating losses result in deferred tax assets of $20,085,000 and $3,637,000 at December 31, 2017 and 2016 , respectively. These deferred tax assets were subject to a valuation allowance of $16,152,000 and $1,060,000 at December 31, 2017 and 2016 , respectively. At December 31, 2016, the unremitted earnings of foreign subsidiaries outside of the United States for which deferred taxes had not been provided were approximately $422,940,000 . Under the transition tax described above, a provisional estimate of $49,947,000 has been recorded for the amount of the tax due on untaxed foreign earnings and profits as of December 31, 2017 . While the provisional transition tax may eliminate, in part or in whole, the need for U.S. federal deferred taxes on previously untaxed net foreign earnings and profits, it has not eliminated the potential need for deferred taxes related to the associated future foreign withholding and state taxes. As of December 31, 2017, the Company has recorded provisional deferred tax liabilities of $23,690,000 related to estimated foreign withholding taxes on future repatriations of previously untaxed net foreign earnings and profits. The Company conducts business globally, and, as a result, the Company or one or more of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Canada, China, France, Japan, South Korea, Switzerland, and the United States. The Company has effectively settled Canadian tax examinations of all years through 2012, U.S. tax examinations of all years through 2013, Japanese tax examinations of all years through 2012, France tax examinations of all years through 2014, and Swiss tax examinations of all years through 2013. The Company's transfer pricing policies are currently under review by the Chinese tax authorities for all tax years after 2013. The Korean National Tax Service concluded an audit of the Company's 2009 through 2013 corporate income tax returns in 2014, and an audit of the Company's 2014 corporate income tax return in 2016. Due to the nature of the findings in both of these audits, the Company has invoked the Mutual Agreement Procedures outlined in the U.S.-Korean income tax treaty. The Company does not anticipate that adjustments relative to this dispute, or any other ongoing tax audits, will result in material changes to its financial condition, results of operations or cash flows. Other than the dispute previously noted, the Company is not currently under examination in any major jurisdiction. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): December 31, 2017 2016 2015 Balance at beginning of year $ 9,998 $ 11,187 $ 6,630 Increases related to prior year tax positions 858 2,514 365 Decreases related to prior year tax positions (2,895 ) (5,119 ) (2,019 ) Increases related to current year tax positions 2,714 1,599 6,564 Expiration of statute of limitations (163 ) (183 ) (353 ) Balance at end of year $ 10,512 $ 9,998 $ 11,187 Due to the potential for resolution of income tax audits currently in progress, and the expiration of various statutes of limitation, it is reasonably possible that the unrecognized tax benefits balance may change within the twelve months following December 31, 2017 by a range of zero to $2,066,000 . Open tax years, including those previously mentioned, contain matters that could be subject to differing interpretations of applicable tax laws and regulations as they relate to the amount, timing, or inclusion of revenue and expenses or the sustainability of income tax credits for a given examination cycle. Unrecognized tax benefits of $6,892,000 and $7,723,000 would affect the effective tax rate if recognized at December 31, 2017 and 2016 , respectively. The Company recognizes interest expense and penalties related to income tax matters in income tax expense. The Company recognized a net reversal of accrued interest and penalties of $1,402,000 in 2017 , and a net increase of accrued interest and penalties of $637,000 in 2016 and a net reversal of accrued interest and penalties of $356,000 in 2015 , all of which related to uncertain tax positions. The Company had $1,640,000 and $3,042,000 of accrued interest and penalties related to uncertain tax positions at December 31, 2017 and 2016 , respectively. |
Other Long-Term Liabilities
Other Long-Term Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Other Long-Term Liabilities | OTHER LONG-TERM LIABILITIES Other long-term liabilities consisted of the following (in thousands): December 31, 2017 2016 Straight-line and deferred rent liabilities (Note 13) $ 31,016 $ 30,869 Asset retirement obligations 4,580 3,342 Deferred compensation plan liability (Note 12) 9,319 8,411 Derivative financial instruments (Note 19) 3,820 — $ 48,735 $ 42,622 |
Retirement Savings Plans
Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Retirement Savings Plans | RETIREMENT SAVINGS PLANS 401(k) Profit-Sharing Plan The Company has a 401(k) profit-sharing plan, which covers substantially all U.S. employees. Participation begins the first day of the quarter following completion of 30 days of service. The Company may elect to make discretionary matching or non-matching contributions. All Company contributions to the plan as determined by the Board of Directors totaled $7,666,000 , $7,754,000 and $6,981,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Deferred Compensation Plan The Company sponsors a nonqualified retirement savings plan for certain senior management employees whose contributions to the tax qualified 401(k) plan would be limited by provisions of the Internal Revenue Code. This plan allows participants to defer receipt of a portion of their salary and incentive compensation and to receive matching contributions for a portion of the deferred amounts. Company matching contributions to the plan totaled $210,000 , $200,000 and $180,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Participants earn a return on their deferred compensation based on investment earnings of participant-selected mutual funds. Deferred compensation, including accumulated earnings on the participant-directed investment selections, is distributable in cash at participant-specified dates or upon retirement, death, disability, or termination of employment. The Company has purchased specific mutual funds in the same amounts as the participant-directed investment selections underlying the deferred compensation liabilities. These investment securities and earnings thereon, held in an irrevocable trust, are intended to provide a source of funds to meet the deferred compensation obligations, subject to claims of creditors in the event of the Company's insolvency. Changes in the market value of the participants' investment selections are recorded as an adjustment to the investments and as unrealized gains and losses in SG&A expense. A corresponding adjustment of an equal amount is made to the deferred compensation liabilities and compensation expense, which is included in SG&A expense. At December 31, 2017 and 2016 , the long-term portion of the liability to participants under this plan was $9,319,000 and $8,411,000 , respectively, and was recorded in other long-term liabilities. At December 31, 2017 and 2016 , the current portion of the participant liability was $1,437,000 and $472,000 , respectively, and was recorded in accrued liabilities. At December 31, 2017 and 2016 , the fair value of the long-term portion of the mutual fund investments related to this plan was $9,319,000 and $8,411,000 , respectively, and was recorded in other non-current assets. At December 31, 2017 and 2016 , the current portion of the mutual fund investments related to this plan was $1,437,000 and $472,000 , respectively, and was recorded in short-term investments. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Operating Leases The Company leases, among other things, retail space, office space, warehouse facilities, storage space, vehicles, and equipment. Generally, the base lease terms are between 5 and 10 years. Certain lease agreements contain scheduled rent escalation clauses in their future minimum lease payments. Future minimum lease payments are recognized on a straight-line basis over the minimum lease term and the pro rata portion of scheduled rent escalations is included in other long-term liabilities. Certain retail space lease agreements provide for additional rents based on a percentage of annual sales in excess of stipulated minimums ("percentage rent"). Certain lease agreements require the Company to pay real estate taxes, insurance, common area maintenance ("CAM"), and other costs, collectively referred to as operating costs, in addition to base rent. Percentage rent and operating costs are recognized as incurred in SG&A expense in the Consolidated Statements of Operations. Certain lease agreements also contain lease incentives, such as tenant improvement allowances and rent holidays. The Company recognizes the benefits related to the lease incentives on a straight-line basis over the applicable lease term. Rent expense, including percentage rent but excluding operating costs for which the Company is obligated, consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Rent expense included in SG&A expense $ 84,564 $ 75,457 $ 67,881 Rent expense included in Cost of sales 1,557 1,626 1,689 $ 86,121 $ 77,083 $ 69,570 Operating lease obligations listed below do not include percentage rent, real estate taxes, insurance, CAM, and other costs for which the Company is obligated. These operating lease commitments are not reflected on the Consolidated Balance Sheets. Approximate future minimum payments, including rent escalation clauses and committed leases for stores that are not yet open, on all lease obligations at December 31, 2017 , are as follows (in thousands): 2018 $ 68,686 2019 58,286 2020 49,148 2021 42,041 2022 38,416 Thereafter 113,961 $ 370,538 Inventory Purchase Obligations Inventory purchase obligations consist of open production purchase orders for sourced apparel, footwear, accessories, and equipment, and raw material commitments not included in open production purchase orders. At December 31, 2017 , inventory purchase obligations were $266,507,000 . Litigation The Company is involved in litigation and various legal matters arising in the normal course of business, including matters related to employment, retail, intellectual property, contractual agreements, and various regulatory compliance activities. Management has considered facts related to legal and regulatory matters and opinions of counsel handling these matters, and does not believe the ultimate resolution of these proceedings will have a material adverse effect on the Company's financial position, results of operations or cash flows. Indemnities and Guarantees During its normal course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These include (i) intellectual property indemnities to the Company's customers and licensees in connection with the use, sale or license of Company products, (ii) indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, (iii) indemnities to customers, vendors and service providers pertaining to claims based on the negligence or willful misconduct of the Company, (iv) executive severance arrangements, and (v) indemnities involving the accuracy of representations and warranties in certain contracts. The duration of these indemnities, commitments and guarantees varies, and in certain cases, may be indefinite. The majority of these indemnities, commitments and guarantees do not provide for any limitation of the maximum potential for future payments the Company could be obligated to make. The Company has not recorded any liability for these indemnities, commitments and guarantees in the accompanying Consolidated Balance Sheets. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Shareholders' Equity | SHAREHOLDERS' EQUITY Since the inception of the Company's stock repurchase plan in 2004 through December 31, 2017 , the Company's Board of Directors has authorized the repurchase of $700,000,000 of the Company's common stock. As of December 31, 2017 , the Company had repurchased 21,658,035 shares under this program at an aggregate purchase price of approximately $562,064,000 . During the year ended December 31, 2017 , the Company purchased an aggregate of $35,542,000 of common stock under the stock repurchase plan. Shares of the Company's common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions. The repurchase program does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION The Company's stock incentive plan (the "Plan") provides for issuance of up to 20,800,000 shares of the Company's common stock, of which 2,701,396 shares were available for future grants under the Plan at December 31, 2017 . The Plan allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units, and other stock-based or cash-based awards. The Company uses original issuance shares to satisfy share-based payments. Stock-based compensation expense consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Cost of sales $ 243 $ 233 $ 326 SG&A expense 11,043 10,753 11,346 Pre-tax stock-based compensation expense 11,286 10,986 11,672 Income tax benefits (1,778 ) (3,969 ) (4,044 ) Total stock-based compensation expense, net of tax $ 9,508 $ 7,017 $ 7,628 The Company realized a tax benefit for the deduction from stock-based award transactions of $10,463,000 , $9,576,000 and $11,872,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Stock Options Options to purchase the Company's common stock are granted at exercise prices equal to or greater than the fair market value of the Company's common stock on the date of grant. Options generally vest and become exercisable ratably on an annual basis over a period of four years and expire ten years from the date of the grant. The Company estimates the fair value of stock options using the Black-Scholes model. Key inputs and assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, expected volatility of the Company's stock over the option's expected term, the risk-free interest rate over the option's expected term, and the Company's expected annual dividend yield. The option's expected term is derived from historical option exercise behavior and the option's terms and conditions, which the Company believes provide a reasonable basis for estimating an expected term. The expected volatility is estimated based on observations of the Company's historical volatility over the most recent term commensurate with the expected term. The risk-free interest rate is based on the U.S. Treasury yield approximating the expected term. The dividend yield is based on the expected cash dividend payouts. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company's experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. The following table presents the weighted average assumptions for the years ended December 31: 2017 2016 2015 Expected term 4.54 years 4.63 years 4.60 years Expected stock price volatility 28.91% 29.79% 26.57% Risk-free interest rate 1.73% 1.17% 1.20% Expected dividend yield 1.29% 1.20% 1.26% Weighted average grant date fair value $13.11 $13.38 $10.36 The following table summarizes stock option activity under the Plan: Number of Weighted Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at January 1, 2015 2,640,785 $ 28.00 6.50 $ 43,682 Granted 500,761 48.46 Cancelled (172,018 ) 34.59 Exercised (680,658 ) 25.63 Options outstanding at December 31, 2015 2,288,870 32.69 6.50 38,209 Granted 430,544 56.63 Cancelled (117,699 ) 47.33 Exercised (450,173 ) 29.25 Options outstanding at December 31, 2016 2,151,542 37.40 6.39 45,253 Granted 540,537 55.90 Cancelled (246,450 ) 50.62 Exercised (675,742 ) 29.52 Options outstanding at December 31, 2017 1,769,887 $ 44.22 6.69 $ 48,962 Options vested and expected to vest at December 31, 2017 1,704,394 $ 43.77 6.61 $ 47,904 Options exercisable at December 31, 2017 875,433 $ 34.17 4.95 $ 33,016 The aggregate intrinsic value in the table above represents pre-tax intrinsic value that would have been realized if all options had been exercised on the last business day of the period indicated, based on the Company's closing stock price on that day. Total stock option compensation expense for the years ended December 31, 2017 , 2016 and 2015 was $3,843,000 , $3,896,000 and $3,637,000 , respectively. At December 31, 2017 , unrecognized costs related to stock options totaled approximately $7,166,000 , before any related tax benefit. The unrecognized costs related to stock options are being amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at December 31, 2017 are expected to be recognized over a weighted average period of 2.35 years. The aggregate intrinsic value of stock options exercised was $19,836,000 , $12,976,000 and $20,400,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. The total cash received as a result of stock option exercises for the years ended December 31, 2017 , 2016 and 2015 was $19,946,000 , $13,167,000 and $17,442,000 , respectively. Restricted Stock Units Service-based restricted stock units are granted at no cost to key employees and generally vest over a period of four years. Performance-based restricted stock units are granted at no cost to certain members of the Company's senior executive team, excluding the Chairman of the Board of Directors and the Chief Executive Officer. Performance-based restricted stock units granted after 2009 generally vest over a performance period of between two and three years. Restricted stock units vest in accordance with the terms and conditions established by the Compensation Committee of the Board of Directors, and are based on continued service and, in some instances, on individual performance or Company performance or both. For the majority of restricted stock units granted, the number of shares issued on the date the restricted stock units vest is net of the minimum statutory withholding requirements that the Company pays in cash to the appropriate taxing authorities on behalf of its employees. For the years ended December 31, 2017 , 2016 and 2015 , the Company withheld 65,437 , 88,335 and 90,355 shares, respectively, to satisfy $3,662,000 , $5,127,000 and $4,895,000 of employees' tax obligations, respectively. The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. The relevant inputs and assumptions used in the Black-Scholes model to compute the discount are the vesting period, expected annual dividend yield and closing price of the Company's common stock on the date of grant. The following table presents the weighted average assumptions for the years ended December 31: 2017 2016 2015 Vesting period 3.87 years 3.57 years 3.82 years Expected dividend yield 1.30% 1.08% 1.14% Estimated average fair value per restricted stock unit granted $52.45 $55.93 $51.07 The following table summarizes the restricted stock unit activity under the Plan: Number of Shares Weighted Average Grant Date Fair Value Per Share Restricted stock units outstanding at January 1, 2015 658,760 $ 31.03 Granted 207,040 51.07 Vested (243,765 ) 28.09 Forfeited (68,746 ) 34.57 Restricted stock units outstanding at December 31, 2015 553,289 38.85 Granted 205,734 55.93 Vested (235,059 ) 33.98 Forfeited (57,489 ) 46.35 Restricted stock units outstanding at December 31, 2016 466,475 47.23 Granted 270,169 52.45 Vested (176,654 ) 42.32 Forfeited (110,515 ) 48.13 Restricted stock units outstanding at December 31, 2017 449,475 $ 52.07 Restricted stock unit compensation expense for the years ended December 31, 2017 , 2016 and 2015 was $7,443,000 , $7,090,000 and $8,035,000 , respectively. At December 31, 2017 , unrecognized costs related to restricted stock units totaled approximately $14,174,000 , before any related tax benefit. The unrecognized costs related to restricted stock units are being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at December 31, 2017 are expected to be recognized over a weighted average period of 2.24 years . The total grant date fair value of restricted stock units vested during the years ended December 31, 2017 , 2016 and 2015 was $7,477,000 , $7,988,000 and $6,848,000 , respectively. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE Earnings per share ("EPS") is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted stock units determined using the treasury stock method. A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): Year Ended December 31, 2017 2016 2015 Weighted average common shares outstanding, used in computing basic earnings per share 69,759 69,683 70,162 Effect of dilutive stock options and restricted stock units 694 949 902 Weighted-average common shares outstanding, used in computing diluted earnings per share 70,453 70,632 71,064 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.51 $ 2.75 $ 2.48 Diluted 1.49 2.72 2.45 Stock options and service-based restricted stock units representing 887,595 , 517,654 and 154,170 shares of common stock for the years ended December 31, 2017 , 2016 and 2015 , respectively, were outstanding but were excluded in the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 40,848 , 63,430 and 122,858 shares for the years ended December 31, 2017 , 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. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of applicable taxes, reported on the Company's Consolidated Balance Sheets consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on derivative transactions and foreign currency translation adjustments. The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of related tax effects, for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Unrealized losses on available for sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at January 1, 2015 $ 4 $ 8,995 $ 6,834 $ 15,833 Other comprehensive income (loss) before reclassifications (6 ) 9,791 (33,755 ) (23,970 ) Amounts reclassified from other comprehensive income — (12,699 ) — (12,699 ) Net other comprehensive income (loss) during the year (6 ) (2,908 ) (33,755 ) (36,669 ) Balance at December 31, 2015 (2 ) 6,087 (26,921 ) (20,836 ) Other comprehensive income (loss) before reclassifications (2 ) 420 (2,465 ) (2,047 ) Amounts reclassified from other comprehensive income — 266 — 266 Net other comprehensive income (loss) during the year (2 ) 686 (2,465 ) (1,781 ) Balance at December 31, 2016 (4 ) 6,773 (29,386 ) (22,617 ) Other comprehensive income (loss) before reclassifications — (15,559 ) 31,219 15,660 Amounts reclassified from other comprehensive income — (1,930 ) — (1,930 ) Net other comprehensive income (loss) during the year — (17,489 ) 31,219 13,730 Balance at December 31, 2017 $ (4 ) $ (10,716 ) $ 1,833 $ (8,887 ) All reclassification adjustments related to derivative transactions are recorded in Cost of sales on the Consolidated Statements of Operations. Refer to Note 19 for further information regarding derivative instrument reclassification adjustments. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company has aggregated its operating segments into four reportable geographic segments: (1) the United States, (2) Latin America and Asia Pacific ("LAAP"), (3) Europe, Middle East and Africa ("EMEA"), and (4) Canada, which are reflective of the Company's internal organization, management and oversight structure. Each geographic segment operates predominantly in one industry: the design, development, marketing, and distribution of 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, human resources and legal, executive compensation, unallocated benefit program expense, and other miscellaneous costs. The geographic distribution of the Company's net sales, income from operations, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2017 , 2016 and 2015 and for accounts receivable, net, inventories and property, plant and equipment, net, at December 31, 2017 and 2016 . 2017 2016 2015 Net sales to unrelated entities: United States $ 1,520,026 $ 1,505,302 $ 1,455,283 LAAP 475,128 453,686 469,140 EMEA 293,700 253,487 233,226 Canada 177,251 164,570 168,531 $ 2,466,105 $ 2,377,045 $ 2,326,180 Segment income from operations: United States $ 334,207 $ 331,706 $ 309,162 LAAP 73,748 61,994 65,846 EMEA 11,897 8,403 8,664 Canada 26,427 19,010 23,772 Total segment income from operations 446,279 421,113 407,444 Unallocated corporate expenses (183,310 ) (164,605 ) (157,723 ) Interest income, net 4,515 2,003 1,531 Interest expense on note payable to related party (429 ) (1,041 ) (1,099 ) Other non-operating expense (321 ) (572 ) (2,834 ) Income before income tax $ 266,734 $ 256,898 $ 247,319 Interest income (expense), net: United States $ 2,573 $ 2,334 $ 4,765 LAAP 289 (216 ) (555 ) EMEA 7,072 2,663 152 Canada (5,419 ) (2,778 ) (2,831 ) $ 4,515 $ 2,003 $ 1,531 Income tax (expense) benefit: United States $ (129,194 ) $ (45,584 ) $ (58,487 ) LAAP (14,935 ) (12,345 ) (10,058 ) EMEA (4,716 ) 1,507 5,305 Canada (5,574 ) (2,037 ) (4,228 ) $ (154,419 ) $ (58,459 ) $ (67,468 ) Depreciation and amortization expense: United States $ 24,662 $ 24,920 $ 25,490 LAAP 6,495 6,392 5,437 EMEA 4,043 3,189 2,419 Canada 2,831 2,912 3,020 Unallocated corporate expense 21,914 22,603 20,155 $ 59,945 $ 60,016 $ 56,521 Accounts receivable, net: United States $ 180,742 $ 162,017 LAAP 95,765 84,947 EMEA 42,659 42,195 Canada 45,696 44,519 $ 364,862 $ 333,678 Inventories: United States $ 285,481 $ 308,721 LAAP 84,149 95,033 EMEA 57,055 51,226 Canada 31,242 33,017 $ 457,927 $ 487,997 Property, plant and equipment, net: United States $ 206,172 $ 211,572 Canada 30,318 28,159 All other countries 44,904 39,919 $ 281,394 $ 279,650 Net sales by product category: Apparel, accessories and equipment $ 1,927,957 $ 1,865,449 $ 1,821,182 Footwear 538,148 511,596 504,998 $ 2,466,105 $ 2,377,045 $ 2,326,180 |
Financial Instruments and Risk
Financial Instruments and Risk Management | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments and Risk Management | FINANCIAL INSTRUMENTS AND RISK MANAGEMENT In the normal course of business, the Company's financial position, 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. Our subsidiaries and joint venture that use European euros, Canadian dollars, Japanese yen, or Chinese renminbi 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 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 cost of sales for hedges of anticipated U.S. dollar inventory purchases and in net sales for hedges of anticipated Canadian dollar sales. Hedge ineffectiveness was not material during the years ended December 31, 2017 , 2016 and 2015 . The Company also uses foreign currency forward contracts not formally designated as hedges using euros, yen, Canadian dollars, British pounds and Swiss francs to manage the consolidated currency exchange risk associated with the remeasurement of non-functional currency denominated monetary assets and liabilities. Non-functional currency denominated monetary assets and liabilities consist primarily of cash and cash equivalents, short-term investments, payables, and intercompany loans. The gains and losses generated on these currency forward contracts not formally designated as hedges are expected to be largely offset in other non-operating income (expense), net by the gains and losses generated from the remeasurement of the non-functional currency denominated monetary assets and liabilities. The following table presents the gross notional amount of outstanding derivative instruments (in thousands): December 31, 2017 2016 Derivative instruments designated as cash flow hedges: Currency forward contracts $ 448,448 $ 206,000 Derivative instruments not designated as hedges: Currency forward contracts 231,161 184,940 At December 31, 2017 , approximately $10,261,000 of deferred net losses on both outstanding and matured derivatives accumulated in other comprehensive income are expected to be reclassified to income before tax 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 euro, Canadian dollar, yen, and renminbi when outstanding derivative contracts mature. At December 31, 2017 , the Company's derivative contracts had remaining maturities 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 $2,000,000 at December 31, 2017 . 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): December 31, Balance Sheet Classification 2017 2016 Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 1,648 $ 9,805 Currency forward contracts Other non-current assets 335 1,969 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 9,336 106 Currency forward contracts Other long-term liabilities 3,820 — Derivative instruments not designated as hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 683 1,361 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 1,229 180 The following table presents the effect and classification of derivative instruments for the years ended December 31, 2017 , 2016 and 2015 (in thousands): For the Year Ended December 31, Statement Of Operations Classification 2017 2016 2015 Currency Forward Contracts: Derivative instruments designated as cash flow hedges: Gain (loss) recognized in other comprehensive income, net of tax — $ (15,862 ) $ 583 $ 9,791 Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion Cost of sales 1,195 (724 ) 15,446 Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance Cost of sales — (24 ) — Gain reclassified from accumulated other comprehensive income to income for the effective portion Net sales 144 115 385 Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales 2,843 1,240 (209 ) Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance Other non-operating expense (178 ) — — Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales 6 1 (30 ) Derivative instruments not designated as hedges: Gain (loss) recognized in income Other non-operating expense (3,943 ) 2,739 2,838 |
Fair Value Measures
Fair Value Measures | 12 Months Ended |
Dec. 31, 2017 | |
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 or infrequent transactions; and Level 3 – unobservable inputs for which there is little or no market data available, that require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 282,860 $ — $ — $ 282,860 Time deposits 52,808 — — 52,808 U.S. Government treasury bills — 4,995 — 4,995 U.S. Government-backed municipal bonds — 25,338 — 25,338 Available-for-sale short-term investments U.S. Government treasury bills — 19,963 — 19,963 U.S. Government-backed municipal bonds — 73,582 — 73,582 Other short-term investments: Mutual fund shares 1,438 — — 1,438 Other current assets: Derivative financial instruments (Note 19) — 2,331 — 2,331 Non-current assets: Derivative financial instruments (Note 19) — 335 — 335 Mutual fund shares 9,319 — — 9,319 Total assets measured at fair value $ 346,425 $ 126,544 $ — $ 472,969 Liabilities: Accrued liabilities: Derivative financial instruments (Note 19) $ — $ 10,565 $ — $ 10,565 Other long-term liabilities Derivative financial instruments (Note 19) — 3,820 — 3,820 Total liabilities measured at fair value $ — $ 14,385 $ — $ 14,385 Assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 299,769 $ — $ — $ 299,769 Time deposits 73,127 — — 73,127 Other short-term investments: Mutual fund shares 472 — — 472 Other current assets: Derivative financial instruments (Note 19) — 11,166 — 11,166 Non-current assets: Derivative financial instruments (Note 19) — 1,969 — 1,969 Mutual fund shares 8,411 — — 8,411 Total assets measured at fair value $ 381,779 $ 13,135 $ — $ 394,914 Liabilities: Accrued liabilities: Derivative financial instruments (Note 19) $ — $ 286 $ — $ 286 Total liabilities measured at fair value $ — $ 286 $ — $ 286 Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions. There were no material assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2017 or 2016 . |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | RELATED PARTY TRANSACTIONS The Company owns a 60% controlling interest in a joint venture formed with Swire. 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, including the transition of the joint venture's systems to the Company's platform in the second quarter of 2017. The joint venture incurred service fees, valued under these TSAs at Swire's cost of $1,006,000 , $3,294,000 and $5,974,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. These fees are included in SG&A expenses on the 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. For the years ended December 31, 2017 , 2016 and 2015 , the joint venture incurred sourcing fees of $21,000 , $71,000 and $396,000 , 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 a note payable to related party in the Consolidated Balance Sheets as of December 31, 2016 . In June 2017, the Company repaid these loans, including the note with Swire in the principal amount of RMB 97,600,000 (USD 14,236,000 ), and as such, the balance on the Consolidated Balance Sheets is zero at December 31, 2017 . Interest expense related to this note was $429,000 , $1,041,000 and $1,099,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. As of December 31, 2017 and 2016 , payables to Swire for service fees and interest expense totaled $89,000 and $707,000 , respectively, and were included in accounts payable on the Consolidated Balance Sheets. 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. |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2017 | |
Valuation and Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | Schedule II Valuation and Qualifying Accounts (in thousands) Description Balance at Beginning Charged to Deductions Other (b) Balance at Year Ended December 31, 2017: Allowance for doubtful accounts $ 8,556 $ 3,296 $ (3,174 ) $ 365 $ 9,043 Allowance for sales returns and miscellaneous claims 39,768 80,116 (75,066 ) 1,488 46,306 Year Ended December 31, 2016: Allowance for doubtful accounts $ 9,928 $ 2,037 $ (3,406 ) $ (3 ) $ 8,556 Allowance for sales returns and miscellaneous claims 40,510 49,822 (50,548 ) (16 ) 39,768 Year Ended December 31, 2015: Allowance for doubtful accounts $ 8,943 $ 2,788 $ (1,239 ) $ (564 ) $ 9,928 Allowance for sales returns and miscellaneous claims 27,379 54,017 (40,022 ) (864 ) 40,510 ————— (a) Charges to the accounts included in this column are for the purposes for which the reserves were created. (b) Amounts included in this column primarily relate to foreign currency translation. |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Nature of the Business | Nature of the business: Columbia Sportswear Company is a global leader in the design, sourcing, marketing, and distribution of outdoor and active lifestyle apparel, footwear, accessories, and equipment. |
Principles of Consolidation | Principles of consolidation: The Consolidated Financial Statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest (the "Company"). All intercompany balances and transactions have been eliminated in consolidation. |
Estimates and Assumptions | Estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, excess, slow-moving and close-out inventories, product warranty, long-lived and intangible assets, goodwill, income taxes, and stock-based compensation. |
Cash and Cash Equivalents | Cash and cash equivalents: Cash and cash equivalents are stated at fair value or at cost, which approximates fair value, and include investments with original maturities of 90 days or less at the date of acquisition. At December 31, 2017 , cash and cash equivalents consisted of cash, money market funds, time deposits, U.S. government treasury bills, and U.S. government -backed municipal bonds. |
Investments | Investments: At December 31, 2017 , short-term investments consisted of U.S. government treasury bills and U.S. government-backed municipal bonds, as well as mutual fund share investments held as part of the Company's deferred compensation plan expected to be distributed in the next twelve months. The U.S. government treasury bills and U.S. government-backed municipal bonds are classified as available-for-sale securities and are recorded at fair value with any unrealized gains and losses reported, net of tax, in other comprehensive income. Investments held as part of the Company's deferred compensation plan are classified as trading securities and are recorded at fair value with any unrealized gains and losses reported in operating income. Realized gains or losses are determined based on the specific identification method. At December 31, 2016 , short-term investments consisted of mutual fund share investments held as part of the Company's deferred compensation plan expected to be distributed in the next twelve months. At December 31, 2017 and 2016 , long-term investments included in other non-current assets consisted of mutual fund shares held to offset liabilities to participants in the Company's deferred compensation plan. The investments are classified as long-term because the related deferred compensation liabilities are not expected to be paid within the next year. These investments are classified as trading securities and are recorded at fair value with unrealized gains and losses reported as a component of operating income. |
Accounts Receivable | Accounts receivable: Accounts receivable have been reduced by an allowance for doubtful accounts. The Company makes ongoing estimates of the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of the Company's customers to make required payments. |
Inventories | Inventories: Inventories consist primarily of finished goods and are carried at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company periodically reviews its inventories for excess, close-out or slow moving items and makes provisions as necessary to properly reflect inventory value. |
Property, Plant and Equipment | Property, plant and equipment: Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The principal estimated useful lives are: land improvements, 15 years; buildings and building improvements, 15 - 30 years; furniture and fixtures, 3 - 10 years; and machinery, software and equipment, 3 - 10 years. Leasehold improvements are depreciated over the lesser of the estimated useful life of the improvement, which is most commonly 7 years, or the remaining term of the underlying lease. Improvements to property, plant and equipment that substantially extend the useful life of the asset are capitalized. Repair and maintenance costs are expensed as incurred. Internal and external costs directly related to the development of internal-use software during the application development stage, including costs incurred for third party contractors and employee compensation, are capitalized and depreciated over a 3 - 10 year estimated useful life. |
Impairment of Long-Lived Assets | Impairment of long-lived assets: Long-lived assets are amortized over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. In these cases, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges for long-lived assets are included in SG&A expense and were $1,401,000 , $4,310,000 and $4,171,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Charges during the years ended December 31, 2017, 2016 and 2015 were recorded in the United States and LAAP regions for certain underperforming retail stores. |
Intangible Assets and Goodwill | Intangible assets and goodwill: Intangible assets with indefinite useful lives and goodwill are not amortized but are periodically evaluated for impairment. Intangible assets that are determined to have finite lives are amortized using the straight-line method over their estimated useful lives and are measured for impairment only when events or circumstances indicate the carrying value may be impaired. |
Impairment of Goodwill and Intangible Assets | Impairment of intangible assets and goodwill: The Company reviews and tests its intangible assets with indefinite useful lives and goodwill for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company's intangible assets with indefinite lives consist of trademarks and trade names. Substantially all of the Company's goodwill is recorded in the United States segment and impairment testing for goodwill is performed at the reporting unit level. In the impairment test for goodwill, the two-step process first compares the estimated fair value of the reporting unit with the carrying amount of that reporting unit. The Company estimates the fair value of its reporting units using a combination of discounted cash flow analysis, comparisons with the market values of similar publicly traded companies and other operating performance based valuation methods, as necessary. If step one indicates impairment, step two compares the estimated fair value of the reporting unit to the estimated fair value of all reporting unit assets and liabilities, except goodwill, to determine the implied fair value of goodwill. The Company calculates impairment as the excess of carrying amount of goodwill over the implied fair value of goodwill. In the impairment tests for trademarks and trade names, the Company compares the estimated fair value of each asset to its carrying amount. The fair values of trademarks and trade names are generally estimated using a relief from royalty method under the income approach. If the carrying amount of a trademark or trade name exceeds its estimated fair value, the Company calculates impairment as the excess of carrying amount over the estimate of fair value. If events or circumstances indicate the carrying value of intangible assets with finite lives may be impaired, the Company estimates the future undiscounted cash flows to be derived from the asset or asset group to determine whether a potential impairment exists. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the estimated fair value of the asset. Impairment charges, if any, are classified as a component of SG&A expense. The impairment tests and related fair value estimates are based on a number of factors, including assumptions and estimates for projected sales, income, cash flows, discount rates, remaining useful lives, and other operating performance measures. Changes in estimates or the application of alternative assumptions could produce significantly different results. These assumptions and estimates may change in the future due to changes in economic conditions, changes in the Company's ability to meet sales and profitability objectives or changes in the Company's business operations or strategic direction. |
Income Taxes | Income taxes: Income taxes are provided on financial statement earnings for financial reporting purposes. Income taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pre-tax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. Accrued income taxes in the Consolidated Balance Sheets include unrecognized income tax benefits relating to uncertain tax positions, including related interest and penalties, appropriately classified as current or noncurrent. The Company recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. In making this determination, the Company assumes that the taxing authority will examine the position and that it will have full knowledge of all relevant information. The provision for income taxes also includes estimates of interest and penalties related to uncertain tax positions. |
Derivatives | Derivatives: The effective portion of changes in fair values of outstanding cash flow hedges is recorded in other comprehensive income until earnings are affected by the hedged transaction, and any ineffective portion is included in current income. In most cases amounts recorded in other comprehensive income will be released to earnings after maturity of the related derivative. The Consolidated Statements of Operations classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of product costs are recorded in cost of sales when the underlying hedged transactions affect earnings. Results of hedges of revenue are recorded in net sales when the underlying hedged transactions affect earnings. Unrealized derivative gains and losses, which are recorded in assets and liabilities, respectively, are non-cash items and therefore are taken into account in the preparation of the Consolidated Statements of Cash Flows based on their respective balance sheet classifications. Refer to Note 19 for more information on derivatives and risk management. |
Foreign Currency Translation | Foreign currency translation: The assets and liabilities of the Company's foreign subsidiaries have been translated into U.S. dollars using the exchange rates in effect at period end, and the net sales and expenses have been translated into U.S. dollars using average exchange rates in effect during the period. The foreign currency translation adjustments are included as a separate component of accumulated other comprehensive income in shareholders' equity |
Revenue Recognition | Revenue recognition: The Company records wholesale, distributor, e-commerce and licensed product revenues when title passes and the risks and rewards of ownership have passed to the customer. Title generally passes upon shipment to, or upon receipt by, the customer depending on the terms of sale with the customer. Retail store revenues are recorded at the time of sale. Revenue is recorded net of sales taxes, value added taxes or similar taxes which are collected on behalf of local taxing authorities. Where title passes upon receipt by the customer, predominantly in the Company's European wholesale business, Japan and in certain of our direct ship and e-commerce transactions, precise information regarding the date of receipt by the customer is not readily available. In these cases, the Company estimates the date of receipt by the customer based on historical and expected delivery times by geographic location. The Company periodically tests the accuracy of these estimates based on actual transactions. Delivery times vary by geographic location, generally from one to seven days. To date, the Company has found these estimates to be materially accurate. At the time of revenue recognition, the Company also provides for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims as well as events and circumstances that indicate changes to historical rates of returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from the estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that have been established, the Company would record a reduction or increase to net revenues in the period in which it made such determination. |
Cost of Sales | Cost of sales: The expenses that are included in cost of sales include all direct product costs related to shipping, duties and importation. Specific provisions for excess, close-out or slow moving inventory are also included in cost of sales. In addition, some of the Company's products carry limited warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company's history of warranty repairs and replacements and is recorded in cost of sales. |
Selling, General and Administrative Expense | Selling, general and administrative expense: SG&A expense consists of personnel-related costs, advertising, depreciation, occupancy, and other selling and general operating expenses related to the Company's business functions, including planning, receiving finished goods, warehousing, distribution, retail operations and information technology. |
Shipping and Handling Costs | Shipping and handling costs: Shipping and handling fees billed to customers and consumers are recorded as revenue. The direct costs associated with shipping goods to customers and consumers are recorded as cost of sales. Inventory planning, receiving, storing and handling costs are recorded as a component of SG&A expenses and were $73,880,000 , $65,757,000 and $61,338,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Stock-Based Compensation | Stock-based compensation: Stock-based compensation cost is estimated at the grant date based on the award's fair value and is recognized as expense over the requisite service period using the straight-line attribution method. The Company estimates stock-based compensation for stock options granted using the Black-Scholes option pricing model, which requires various subjective assumptions, including volatility and expected option life. Further, the Company estimates forfeitures for stock-based awards granted which are not expected to vest. For restricted stock unit awards subject to performance conditions, the amount of compensation expense recorded in a given period reflects the Company's assessment of the probability of achieving its performance targets. If any of these inputs or assumptions changes significantly, stock-based compensation expense may differ materially in the future from that recorded in the current period. Assumptions are evaluated and revised as necessary to reflect changes in market conditions and the Company's experience. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by people who receive equity awards. The fair value of service-based and performance-based restricted stock units is discounted by the present value of the estimated future stream of dividends over the vesting period using the Black-Scholes model. |
Advertising Costs | Advertising costs: Advertising costs are expensed in the period incurred and are included in SG&A expenses. Total advertising expense, including cooperative advertising costs, was $121,839,000 , $118,663,000 and $120,764,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. Through cooperative advertising programs, the Company reimburses its wholesale customers for some of their costs of advertising the Company's products based on various criteria, including the value of purchases from the Company and various advertising specifications. Cooperative advertising costs are included in expenses because the Company receives an identifiable benefit in exchange for the cost, the advertising may be obtained from a party other than the customer, and the fair value of the advertising benefit can be reasonably estimated. Cooperative advertising costs were $6,555,000 , $8,699,000 and $10,008,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Recent Accounting Pronouncements | Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers Topic 606 , outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. The updated guidance, and subsequent clarifications, require an entity to recognize revenue when it transfers control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the guidance requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company is adopting this standard effective January 1, 2018, utilizing the modified retrospective approach, with the immaterial cumulative effect of initially applying the new standard recognized in retained earnings. The new standard primarily impacts the following areas: fees paid to or retained by third parties in conjunction with certain concession-based retail arrangements, historically comprising approximately 2% of net sales, will be classified as a component of SG&A expenses; wholesale sales returns reserves, estimated chargebacks and markdowns, and other provisions for customer refunds will be presented as accrued liabilities rather than netted within accounts receivable; and the estimated cost of inventory associated with sales returns reserves will be presented within other current assets rather than inventories. The Company expects the timing of revenue recognition for its significant revenue streams to remain substantially unchanged, with no material effect on net sales. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , an update to its accounting guidance related to the recognition and measurement of certain financial instruments. This 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. The Company is adopting this standard effective January 1, 2018, and does not anticipate a material effect on the Company's financial position, results of operations or cash flows. In February 2016, the FASB issued ASU No. 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 most leases previously classified as operating leases. This standard is effective beginning in the first quarter of 2019, with early adoption permitted. The Company is evaluating the impact of this guidance and expects the adoption will result in a material increase in the assets and liabilities on the Company's consolidated balance sheets and is not expected to have a material impact on the Company's consolidated statements of operations or cash flows. 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 effect on the Company's financial position, results of operations or cash flows. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory , which requires the recognition of the income tax effects of an intra-entity transfer of an asset, other than inventory, when the transfer occurs, eliminating an exception under current GAAP in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company is adopting this standard effective January 1, 2018 by applying the required modified retrospective approach with an initial estimated cumulative-effect adjustment to retained earnings of certain previously deferred tax benefits of $11,181,000, which is subject to change as the Company finalizes its accounting for the effects of the enactment of the TCJA described in Note 10. The Company anticipates the adoption of this standard will result in increased volatility in its future effective income tax rate. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Under this guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. This standard is effective beginning in the first quarter of 2019, with early adoption permitted. The Company is evaluating the impact and expects the adoption of ASU 2017-04 to affect the amount and timing of future goodwill impairment charges, if any. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which simplifies the application of hedge accounting guidance to better portray the economic results of risk management activities in the financial statements. The guidance aligns the recognition and presentation of the effects of hedging instruments and hedged items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The Company is early-adopting the standard utilizing the required modified retrospective transition method effective January 1, 2018. The adoption of this standard will not have a material effect on the Company's financial position, results of operations or cash flows. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Subtopic 220) , that permits a reclassification from accumulated other comprehensive income (loss) to retained earnings of the stranded tax effects resulting from application of the new federal corporate income tax rate. The Company early adopted this new standard during the fourth quarter of 2017 utilizing the portfolio approach, which resulted in an increase to retained earnings and corresponding decrease to accumulated other comprehensive income (loss) of $1,159,000 due to a change in the U.S. federal income tax rate from 35% to 21% as a result of the TCJA. |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Components of Accounts Receivable, Net | Accounts receivable, net, is as follows (in thousands): December 31, 2017 2016 Trade accounts receivable $ 373,905 $ 342,234 Allowance for doubtful accounts (9,043 ) (8,556 ) Accounts receivable, net $ 364,862 $ 333,678 |
Properly, Plant, and Equipment,
Properly, Plant, and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment, Net | Property, plant and equipment consisted of the following (in thousands): December 31, 2017 2016 Land and improvements $ 21,065 $ 20,862 Buildings and improvements 173,919 165,746 Machinery, software and equipment 322,032 301,566 Furniture and fixtures 83,613 79,103 Leasehold improvements 121,949 107,574 Construction in progress 14,627 13,475 737,205 688,326 Less accumulated depreciation (455,811 ) (408,676 ) $ 281,394 $ 279,650 |
Intangible Assets, Net and Go35
Intangible Assets, Net and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Identifiable Intangible Assets | December 31, 2017 2016 Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 Customer relationships 23,000 23,000 Gross carrying amount 37,198 37,198 Accumulated amortization: Patents and purchased technology (10,651 ) (9,321 ) Customer relationships (12,413 ) (9,860 ) Accumulated amortization (23,064 ) (19,181 ) Net carrying amount 14,134 18,017 Intangible assets not subject to amortization 115,421 115,421 Intangible assets, net $ 129,555 $ 133,438 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities, Current [Abstract] | |
Schedule of Accrued Liabilities | Accrued liabilities consisted of the following (in thousands): December 31, 2017 2016 Accrued salaries, bonus, paid time off and other benefits $ 79,457 $ 66,227 Accrued import duties 12,420 14,366 Product warranties 12,339 11,455 Other 78,012 50,110 $ 182,228 $ 142,158 |
Reconciliation of Product Warranties | A reconciliation of product warranties is as follows (in thousands): Year Ended December 31, 2017 2016 2015 Balance at beginning of year $ 11,455 $ 11,487 $ 11,148 Provision for warranty claims 4,538 3,802 4,560 Warranty claims (4,210 ) (3,726 ) (3,708 ) Other 556 (108 ) (513 ) Balance at end of year $ 12,339 $ 11,455 $ 11,487 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Consolidated Income from Continuing Operations Before Income Taxes | Consolidated income from continuing operations before income taxes consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 U.S. operations $ 167,380 $ 173,798 $ 173,966 Foreign operations 99,354 83,100 73,353 Income before income tax $ 266,734 $ 256,898 $ 247,319 |
Components of Provision (Benefit) for Income Taxes | The components of the provision (benefit) for income taxes consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Current: Federal $ 87,386 $ 53,840 $ 61,211 State and local 443 6,370 6,520 Non-U.S. 28,708 18,708 21,014 116,537 78,918 88,745 Deferred: Federal 47,087 (12,921 ) (8,883 ) State and local 4,990 (2,166 ) (906 ) Non-U.S. (14,195 ) (5,372 ) (11,488 ) 37,882 (20,459 ) (21,277 ) Income tax expense $ 154,419 $ 58,459 $ 67,468 |
Reconciliation of Statutory Federal Income Tax Rate to Effective Rate | The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements: Year Ended December 31, 2017 2016 2015 (percent of income) Provision for federal income taxes at the statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal benefit 0.4 1.5 2.2 Non-U.S. income taxed at different rates (7.8 ) (5.8 ) (3.9 ) Foreign tax credits (0.1 ) (3.0 ) (1.7 ) Foreign deferred tax asset (3.0 ) (2.5 ) — Reduction of unrecognized tax benefits — — (0.8 ) Research credits (0.7 ) (0.8 ) (0.9 ) Reduction of valuation allowance — — (2.7 ) Excess tax benefits from stock plans (2.3 ) (2.1 ) — Other 0.5 0.5 0.1 Actual provision for income taxes, pre-TCJA 22.0 22.8 27.3 Effects of the TCJA: Reduction of U.S. federal corporate tax rate 5.6 — — Transition tax on foreign earnings 18.7 — — Deferred tax liability associated with future repatriations 8.9 — — Foreign tax credits 2.7 — — Provision for income taxes related to the TCJA 35.9 — — Actual provision for income taxes 57.9 % 22.8 % 27.3 % |
Significant Components of Deferred Taxes | Significant components of the Company's deferred taxes consisted of the following (in thousands): December 31, 2017 2016 Deferred tax assets: Accruals and allowances $ 37,971 $ 51,724 Capitalized inventory costs 21,625 39,661 Stock compensation 3,867 6,476 Net operating loss carryforwards 20,085 3,637 Depreciation and amortization 25,020 19,313 Tax credits 31 443 Foreign currency gain 5,657 — Other 276 263 Gross deferred tax assets 114,532 121,517 Valuation allowance (16,428 ) (1,323 ) Net deferred tax assets 98,104 120,194 Deferred tax liabilities: Depreciation and amortization (15,395 ) (25,703 ) Prepaid expenses (2,383 ) — Deferred tax liability associated with future repatriations (23,690 ) — Foreign currency loss — (667 ) Other — (1,477 ) Gross deferred tax liabilities (41,468 ) (27,847 ) Total net deferred taxes $ 56,636 $ 92,347 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): December 31, 2017 2016 2015 Balance at beginning of year $ 9,998 $ 11,187 $ 6,630 Increases related to prior year tax positions 858 2,514 365 Decreases related to prior year tax positions (2,895 ) (5,119 ) (2,019 ) Increases related to current year tax positions 2,714 1,599 6,564 Expiration of statute of limitations (163 ) (183 ) (353 ) Balance at end of year $ 10,512 $ 9,998 $ 11,187 |
Other Long-Term Liabilities (Ta
Other Long-Term Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Schedule Of Other Long Term Liabilities | Other long-term liabilities consisted of the following (in thousands): December 31, 2017 2016 Straight-line and deferred rent liabilities (Note 13) $ 31,016 $ 30,869 Asset retirement obligations 4,580 3,342 Deferred compensation plan liability (Note 12) 9,319 8,411 Derivative financial instruments (Note 19) 3,820 — $ 48,735 $ 42,622 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Rent Expense | Rent expense, including percentage rent but excluding operating costs for which the Company is obligated, consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Rent expense included in SG&A expense $ 84,564 $ 75,457 $ 67,881 Rent expense included in Cost of sales 1,557 1,626 1,689 $ 86,121 $ 77,083 $ 69,570 |
Schedule of Future Minimum Rental Payments for Operating Leases | 2018 $ 68,686 2019 58,286 2020 49,148 2021 42,041 2022 38,416 Thereafter 113,961 $ 370,538 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Cost of sales $ 243 $ 233 $ 326 SG&A expense 11,043 10,753 11,346 Pre-tax stock-based compensation expense 11,286 10,986 11,672 Income tax benefits (1,778 ) (3,969 ) (4,044 ) Total stock-based compensation expense, net of tax $ 9,508 $ 7,017 $ 7,628 |
Schedule of Weighted Average Assumptions | The following table presents the weighted average assumptions for the years ended December 31: 2017 2016 2015 Expected term 4.54 years 4.63 years 4.60 years Expected stock price volatility 28.91% 29.79% 26.57% Risk-free interest rate 1.73% 1.17% 1.20% Expected dividend yield 1.29% 1.20% 1.26% Weighted average grant date fair value $13.11 $13.38 $10.36 |
Summary of Stock Option Activity | The following table summarizes stock option activity under the Plan: Number of Weighted Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at January 1, 2015 2,640,785 $ 28.00 6.50 $ 43,682 Granted 500,761 48.46 Cancelled (172,018 ) 34.59 Exercised (680,658 ) 25.63 Options outstanding at December 31, 2015 2,288,870 32.69 6.50 38,209 Granted 430,544 56.63 Cancelled (117,699 ) 47.33 Exercised (450,173 ) 29.25 Options outstanding at December 31, 2016 2,151,542 37.40 6.39 45,253 Granted 540,537 55.90 Cancelled (246,450 ) 50.62 Exercised (675,742 ) 29.52 Options outstanding at December 31, 2017 1,769,887 $ 44.22 6.69 $ 48,962 Options vested and expected to vest at December 31, 2017 1,704,394 $ 43.77 6.61 $ 47,904 Options exercisable at December 31, 2017 875,433 $ 34.17 4.95 $ 33,016 |
Schedule Of Weighted Average Assumptions for Restricted Stock Units | The following table presents the weighted average assumptions for the years ended December 31: 2017 2016 2015 Vesting period 3.87 years 3.57 years 3.82 years Expected dividend yield 1.30% 1.08% 1.14% Estimated average fair value per restricted stock unit granted $52.45 $55.93 $51.07 |
Summary of Restricted Stock Unit Activity | The following table summarizes the restricted stock unit activity under the Plan: Number of Shares Weighted Average Grant Date Fair Value Per Share Restricted stock units outstanding at January 1, 2015 658,760 $ 31.03 Granted 207,040 51.07 Vested (243,765 ) 28.09 Forfeited (68,746 ) 34.57 Restricted stock units outstanding at December 31, 2015 553,289 38.85 Granted 205,734 55.93 Vested (235,059 ) 33.98 Forfeited (57,489 ) 46.35 Restricted stock units outstanding at December 31, 2016 466,475 47.23 Granted 270,169 52.45 Vested (176,654 ) 42.32 Forfeited (110,515 ) 48.13 Restricted stock units outstanding at December 31, 2017 449,475 $ 52.07 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts): Year Ended December 31, 2017 2016 2015 Weighted average common shares outstanding, used in computing basic earnings per share 69,759 69,683 70,162 Effect of dilutive stock options and restricted stock units 694 949 902 Weighted-average common shares outstanding, used in computing diluted earnings per share 70,453 70,632 71,064 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.51 $ 2.75 $ 2.48 Diluted 1.49 2.72 2.45 |
Accumulated Other Comprehensi42
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income, Net of Related Tax Effects | The following table sets forth the changes in accumulated other comprehensive income (loss) attributable to Columbia Sportswear Company, net of related tax effects, for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Unrealized losses on available for sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at January 1, 2015 $ 4 $ 8,995 $ 6,834 $ 15,833 Other comprehensive income (loss) before reclassifications (6 ) 9,791 (33,755 ) (23,970 ) Amounts reclassified from other comprehensive income — (12,699 ) — (12,699 ) Net other comprehensive income (loss) during the year (6 ) (2,908 ) (33,755 ) (36,669 ) Balance at December 31, 2015 (2 ) 6,087 (26,921 ) (20,836 ) Other comprehensive income (loss) before reclassifications (2 ) 420 (2,465 ) (2,047 ) Amounts reclassified from other comprehensive income — 266 — 266 Net other comprehensive income (loss) during the year (2 ) 686 (2,465 ) (1,781 ) Balance at December 31, 2016 (4 ) 6,773 (29,386 ) (22,617 ) Other comprehensive income (loss) before reclassifications — (15,559 ) 31,219 15,660 Amounts reclassified from other comprehensive income — (1,930 ) — (1,930 ) Net other comprehensive income (loss) during the year — (17,489 ) 31,219 13,730 Balance at December 31, 2017 $ (4 ) $ (10,716 ) $ 1,833 $ (8,887 ) |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Information | The geographic distribution of the Company's net sales, income from operations, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2017 , 2016 and 2015 and for accounts receivable, net, inventories and property, plant and equipment, net, at December 31, 2017 and 2016 . 2017 2016 2015 Net sales to unrelated entities: United States $ 1,520,026 $ 1,505,302 $ 1,455,283 LAAP 475,128 453,686 469,140 EMEA 293,700 253,487 233,226 Canada 177,251 164,570 168,531 $ 2,466,105 $ 2,377,045 $ 2,326,180 Segment income from operations: United States $ 334,207 $ 331,706 $ 309,162 LAAP 73,748 61,994 65,846 EMEA 11,897 8,403 8,664 Canada 26,427 19,010 23,772 Total segment income from operations 446,279 421,113 407,444 Unallocated corporate expenses (183,310 ) (164,605 ) (157,723 ) Interest income, net 4,515 2,003 1,531 Interest expense on note payable to related party (429 ) (1,041 ) (1,099 ) Other non-operating expense (321 ) (572 ) (2,834 ) Income before income tax $ 266,734 $ 256,898 $ 247,319 Interest income (expense), net: United States $ 2,573 $ 2,334 $ 4,765 LAAP 289 (216 ) (555 ) EMEA 7,072 2,663 152 Canada (5,419 ) (2,778 ) (2,831 ) $ 4,515 $ 2,003 $ 1,531 Income tax (expense) benefit: United States $ (129,194 ) $ (45,584 ) $ (58,487 ) LAAP (14,935 ) (12,345 ) (10,058 ) EMEA (4,716 ) 1,507 5,305 Canada (5,574 ) (2,037 ) (4,228 ) $ (154,419 ) $ (58,459 ) $ (67,468 ) Depreciation and amortization expense: United States $ 24,662 $ 24,920 $ 25,490 LAAP 6,495 6,392 5,437 EMEA 4,043 3,189 2,419 Canada 2,831 2,912 3,020 Unallocated corporate expense 21,914 22,603 20,155 $ 59,945 $ 60,016 $ 56,521 Accounts receivable, net: United States $ 180,742 $ 162,017 LAAP 95,765 84,947 EMEA 42,659 42,195 Canada 45,696 44,519 $ 364,862 $ 333,678 Inventories: United States $ 285,481 $ 308,721 LAAP 84,149 95,033 EMEA 57,055 51,226 Canada 31,242 33,017 $ 457,927 $ 487,997 Property, plant and equipment, net: United States $ 206,172 $ 211,572 Canada 30,318 28,159 All other countries 44,904 39,919 $ 281,394 $ 279,650 Net sales by product category: Apparel, accessories and equipment $ 1,927,957 $ 1,865,449 $ 1,821,182 Footwear 538,148 511,596 504,998 $ 2,466,105 $ 2,377,045 $ 2,326,180 |
Financial Instruments and Ris44
Financial Instruments and Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Gross Notional Amount of Outstanding Derivatives | The following table presents the gross notional amount of outstanding derivative instruments (in thousands): December 31, 2017 2016 Derivative instruments designated as cash flow hedges: Currency forward contracts $ 448,448 $ 206,000 Derivative instruments not designated as hedges: Currency forward contracts 231,161 184,940 |
Balance Sheet Classification and Fair Value of Derivative Instruments | The following table presents the balance sheet classification and fair value of derivative instruments (in thousands): December 31, Balance Sheet Classification 2017 2016 Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 1,648 $ 9,805 Currency forward contracts Other non-current assets 335 1,969 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 9,336 106 Currency forward contracts Other long-term liabilities 3,820 — Derivative instruments not designated as hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 683 1,361 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 1,229 180 |
Effect and Classification of Derivative Instruments | The following table presents the effect and classification of derivative instruments for the years ended December 31, 2017 , 2016 and 2015 (in thousands): For the Year Ended December 31, Statement Of Operations Classification 2017 2016 2015 Currency Forward Contracts: Derivative instruments designated as cash flow hedges: Gain (loss) recognized in other comprehensive income, net of tax — $ (15,862 ) $ 583 $ 9,791 Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion Cost of sales 1,195 (724 ) 15,446 Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance Cost of sales — (24 ) — Gain reclassified from accumulated other comprehensive income to income for the effective portion Net sales 144 115 385 Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales 2,843 1,240 (209 ) Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance Other non-operating expense (178 ) — — Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales 6 1 (30 ) Derivative instruments not designated as hedges: Gain (loss) recognized in income Other non-operating expense (3,943 ) 2,739 2,838 |
Fair Value Measures (Tables)
Fair Value Measures (Tables) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 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 December 31, 2017 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 282,860 $ — $ — $ 282,860 Time deposits 52,808 — — 52,808 U.S. Government treasury bills — 4,995 — 4,995 U.S. Government-backed municipal bonds — 25,338 — 25,338 Available-for-sale short-term investments U.S. Government treasury bills — 19,963 — 19,963 U.S. Government-backed municipal bonds — 73,582 — 73,582 Other short-term investments: Mutual fund shares 1,438 — — 1,438 Other current assets: Derivative financial instruments (Note 19) — 2,331 — 2,331 Non-current assets: Derivative financial instruments (Note 19) — 335 — 335 Mutual fund shares 9,319 — — 9,319 Total assets measured at fair value $ 346,425 $ 126,544 $ — $ 472,969 Liabilities: Accrued liabilities: Derivative financial instruments (Note 19) $ — $ 10,565 $ — $ 10,565 Other long-term liabilities Derivative financial instruments (Note 19) — 3,820 — 3,820 Total liabilities measured at fair value $ — $ 14,385 $ — $ 14,385 | Assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are as follows (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 299,769 $ — $ — $ 299,769 Time deposits 73,127 — — 73,127 Other short-term investments: Mutual fund shares 472 — — 472 Other current assets: Derivative financial instruments (Note 19) — 11,166 — 11,166 Non-current assets: Derivative financial instruments (Note 19) — 1,969 — 1,969 Mutual fund shares 8,411 — — 8,411 Total assets measured at fair value $ 381,779 $ 13,135 $ — $ 394,914 Liabilities: Accrued liabilities: Derivative financial instruments (Note 19) $ — $ 286 $ — $ 286 Total liabilities measured at fair value $ — $ 286 $ — $ 286 |
Basis of Presentation and Org46
Basis of Presentation and Organization Recent Accounting Pronouncements (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Cash Flow Increase [Member] | |||
Item Effected [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 6,227,000 | $ 5,538,000 | |
Income Tax Benefit [Member] | |||
Item Effected [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 6,082,000 | $ 5,499,000 | $ 7,925,000 |
Weighted Average Diluted Shares Outstanding Impact [Member] | |||
Item Effected [Line Items] | |||
Adoption of Recent Accounting Pronouncement Impact on Weighted Average Shares Outstanding | 159,387 | 240,016 |
Summary of Significant Accoun47
Summary of Significant Accounting Policies (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Summary of Investment Holdings [Line Items] | |||
Impairment charge of long-lived assets | $ 1,401,000 | $ 4,310,000 | $ 4,171,000 |
Inventory planning, receiving and handling costs | 73,880,000 | 65,757,000 | 61,338,000 |
Advertising costs | 121,839,000 | 118,663,000 | 120,764,000 |
Cooperative Advertising Expense | 6,555,000 | 8,699,000 | 10,008,000 |
Unrealized gains (losses) on derivative transactions, net | $ (16,846,000) | $ 843,000 | $ (2,908,000) |
Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Delivery time by geographic location (in days) | 1 | ||
Maximum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Delivery time by geographic location (in days) | 7 | ||
Building and Building Improvements [Member] | Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 15 years | ||
Building and Building Improvements [Member] | Maximum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 30 years | ||
Land Improvements [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 15 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 3 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 10 years | ||
Machinery and Equipment [Member] | Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 3 years | ||
Machinery and Equipment [Member] | Maximum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 10 years | ||
Leasehold Improvements [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 7 years | ||
Software and Software Development Costs [Member] | Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 3 years | ||
Software and Software Development Costs [Member] | Maximum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Property, plant and equipment, useful life minimum (years) | 10 years | ||
Retained Earnings [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Unrealized gains (losses) on derivative transactions, net | $ 1,159,000 | ||
Difference between Revenue Guidance in Effect before and after Topic 606 | Pro Forma | ASU 2014-09 | |||
Summary of Investment Holdings [Line Items] | |||
Percent of net sales that will be classified as a component of SG&A expenses | 2.00% |
Concentrations (Details)
Concentrations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Apparel Production [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk sourcing countries | 19 | |
Footwear Production [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk sourcing countries | 5 | |
Maximum [Member] | ||
Concentration Risk [Line Items] | ||
Remaining maturity of derivative contracts | 3 years | |
Aggregate unrealized gain of derivative contracts with single counterparty | $ 2,000,000 | |
United States [Member] | Credit Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 12.30% | 15.90% |
Vietnam And China [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 64.00% | |
China And Vietnam [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk, geographic | substantially all | |
Five Largest Apparel Factory Groups [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 29.00% | |
Largest Apparel Factory Groups [Member] | Apparel [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 10.00% | |
Five Largest Footwear Factory Groups [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 75.00% | |
Largest Footwear Factory Groups [Member] | Footwear [Member] | Supplier Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration percentage | 34.00% |
Non-Controlling Interest (Detai
Non-Controlling Interest (Details) | Dec. 31, 2017 |
Noncontrolling Interest [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Parent | 60.00% |
Accounts Receivable, Net (Compo
Accounts Receivable, Net (Components of Accounts Receivable) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Trade accounts receivable | $ 373,905 | $ 342,234 |
Allowance for doubtful accounts | (9,043) | (8,556) |
Accounts receivable, net | $ 364,862 | $ 333,678 |
Property, Plant, and Equipmen51
Property, Plant, and Equipment, Net (Schedule of Property, Plant, and Equipment, Net) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 737,205 | $ 688,326 |
Less accumulated depreciation | (455,811) | (408,676) |
Property, plant, and equipment, net | 281,394 | 279,650 |
Land and Land Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 21,065 | 20,862 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 173,919 | 165,746 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 322,032 | 301,566 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 83,613 | 79,103 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 121,949 | 107,574 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 14,627 | $ 13,475 |
Intangible Assets, Net and Go52
Intangible Assets, Net and Goodwill (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 3,883,000 | $ 5,146,000 | $ 5,146,000,000 |
Estimated amortization expense, 2018 | 2,980,000 | ||
Estimated amortization expense, 2019 | 2,980,000 | ||
Estimated amortization expense, 2020 | 2,537,000 | ||
Estimated amortization expense, 2021 | 1,650,000 | ||
Estimated amortization expense, 2022 | 1,650,000 | ||
Impairment of goodwill | 0 | 0 | 0 |
Impairment of intangible assets (excluding goodwill) | $ 0 | $ 0 | $ 0 |
Minimum [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization period, in years | 3 years | ||
Maximum [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization period, in years | 10 years |
Intangible Assets, Net and Go53
Intangible Assets, Net and Goodwill (Schedule of Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Summary of Identifiable Intangible Assets [Line Items] | ||
Gross carrying amount | $ 37,198 | $ 37,198 |
Accumulated amortization | (23,064) | (19,181) |
Net carrying amount | 14,134 | 18,017 |
Intangible assets not subject to amortization | 115,421 | 115,421 |
Intangible assets, net | 129,555 | 133,438 |
Patents And Purchased Technology [Member] | ||
Summary of Identifiable Intangible Assets [Line Items] | ||
Gross carrying amount | 14,198 | 14,198 |
Accumulated amortization | (10,651) | (9,321) |
Customer Relationships [Member] | ||
Summary of Identifiable Intangible Assets [Line Items] | ||
Gross carrying amount | 23,000 | 23,000 |
Accumulated amortization | $ (12,413) | $ (9,860) |
Short-Term Borrowings and Cre54
Short-Term Borrowings and Credit Lines (Narrative) (Details) | 12 Months Ended | ||||
Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017JPY (¥) | Dec. 31, 2017CAD | Dec. 31, 2016USD ($) | |
Line of Credit Facility [Line Items] | |||||
Available credit amount | $ 100,000,000 | ||||
Domestic [Member] | Unsecured And Uncommitted Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Line of Credit | $ 0 | $ 0 | |||
Canadian Subsidiary [Member] | Unsecured And Uncommitted Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | Canadian prime rate | ||||
Proceeds from Lines of Credit | 0 | ||||
Maximum borrowing capacity | $ 23,866,000 | CAD 30,000,000 | |||
Long-term Line of Credit | 0 | ||||
European Subsidiary [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Line of Credit | 0 | 0 | |||
European Subsidiary [Member] | Unsecured And Uncommitted Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 36,784,000 | ||||
European Subsidiary [Member] | Unsecured And Uncommitted Credit Line1 [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | European Central Bank ("ECB") refinancing rate plus 100 basis points | ||||
Maximum borrowing capacity | € | € 25,800,000 | ||||
European Subsidiary [Member] | Unsecured And Uncommitted Credit Line2 [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | Euro Overnight Index Average ("EONIA") plus 75 basis points | ||||
Maximum borrowing capacity | € | € 5,000,000 | ||||
Japanese Subsidiary [Member] | Unsecured And Uncommitted Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 9,658,000 | ||||
Japanese Subsidiary [Member] | Unsecured And Uncommitted Credit Line1 [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | JPY LIBOR plus 100 basis points | ||||
Maximum borrowing capacity | $ 7,000,000 | ||||
Japanese Subsidiary [Member] | Unsecured And Uncommitted Credit Line2 [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | Bank of Tokyo Prime Rate | ||||
Maximum borrowing capacity | ¥ | ¥ 300,000,000 | ||||
Japanese Subsidiary [Member] | Revolving Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Line of Credit | $ 0 | 0 | |||
Korean Subsidiary [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Line of Credit | $ 0 | $ 0 | |||
Korean Subsidiary [Member] | Unsecured And Uncommitted Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | CD rate plus 220 basis points | ||||
Maximum borrowing capacity | $ 20,000,000 | ||||
Committed Portion Of Credit Facility [Member] | Domestic [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maturity date of agreement | Jul. 1, 2021 | ||||
Minimum [Member] | Domestic [Member] | Committed Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | USD LIBOR plus 87.5 basis points | ||||
Maximum [Member] | Domestic [Member] | Committed Line Of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Interest rate description | USD LIBOR plus 162.5 basis points |
Accrued Liabilities (Schedule o
Accrued Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued Liabilities, Current [Abstract] | ||||
Accrued salaries, bonus, vacation and other benefits | $ 79,457 | $ 66,227 | ||
Accrued import duties | 12,420 | 14,366 | ||
Product warranties | 12,339 | 11,455 | $ 11,487 | $ 11,148 |
Other | 78,012 | 50,110 | ||
Accrued liabilities, total | $ 182,228 | $ 142,158 |
Accrued Liabilities (Reconcilia
Accrued Liabilities (Reconciliation of Product Warranties) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accrued Liabilities, Current [Abstract] | |||
Balance at beginning of period | $ 11,455 | $ 11,487 | $ 11,148 |
Provision for warranty claims | 4,538 | 3,802 | 4,560 |
Warranty claims | (4,210) | (3,726) | (3,708) |
Other | 556 | (108) | (513) |
Balance at end of period | $ 12,339 | $ 11,455 | $ 11,487 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Loss Carryforwards [Line Items] | |||
Tax Cuts and Jobs Act Of 2017, provisional tax expense | $ 95,610,000 | ||
Tax Cuts and Jobs Act of 2017, provisional decrease to deferred tax assets | 15,017,000 | ||
Tax Cuts and Jobs Act of 2017, deferred income tax expense resulting from remeasurement of deferred tax asset | 15,017,000 | ||
Tax Cuts and Jobs Act Of 2017, provisional transition tax obligation | 49,947,000 | ||
Tax Cuts and Jobs Act Of 2017, provisional liability for withholding tax | 23,690,000 | ||
Tax Cuts and Jobs Act of 2017, foreign tax credit | 6,956,000 | ||
Net operating loss carryforwards | 72,297,000 | ||
Net operating loss carryforwards, not subject to expiration | 59,943,000 | ||
Net operating loss carryforwards, subject to expiration | 15,354,000 | ||
Deferred tax assets, net operating loss carryforwards | 20,085,000 | $ 3,637,000 | |
Deferred tax assets, valuation allowance | 16,152,000 | 1,060,000 | |
Undistributed earnings of foreign subsidiaries | 422,940,000 | ||
Change in unrecognized tax benefit reasonably possible, low range | 0 | ||
Change in unrecognized tax benefit reasonably possible, high range | 2,066,000 | ||
Unrecognized tax benefits that would affect the effective tax rate | 6,892,000 | 7,723,000 | |
Interest expense and penalties recognized (reversed) | 1,402,000 | 637,000 | $ 356,000 |
Accrued interest and penalties related to uncertain tax positions | $ 1,640,000 | $ 3,042,000 | |
Minimum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards, expiration year | Jan. 1, 2025 | ||
Maximum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards, expiration year | Jan. 1, 2027 |
Income Taxes (Consolidated Inco
Income Taxes (Consolidated Income from Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
U.S. operations | $ 167,380 | $ 173,798 | $ 173,966 |
Foreign operations | 99,354 | 83,100 | 73,353 |
Income before income tax | $ 266,734 | $ 256,898 | $ 247,319 |
Income Taxes (Components of Pro
Income Taxes (Components of Provision (Benefit) for Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Current, federal | $ 87,386 | $ 53,840 | $ 61,211 |
Current, state and local | 443 | 6,370 | 6,520 |
Current, non-U.S. | 28,708 | 18,708 | 21,014 |
Current income tax expense | 116,537 | 78,918 | 88,745 |
Deferred, federal | 47,087 | (12,921) | (8,883) |
Deferred, state and local | 4,990 | (2,166) | (906) |
Deferred, non-U.S. | (14,195) | (5,372) | (11,488) |
Deferred income tax expense | 37,882 | (20,459) | (21,277) |
Income tax expense | $ 154,419 | $ 58,459 | $ 67,468 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Statutory Federal Income Tax Rate to Effective Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | |||
Provision for federal income taxes at the statutory rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit | 0.40% | 1.50% | 2.20% |
Non-U.S. income taxes at different rates | (7.80%) | (5.80%) | (3.90%) |
Foreign tax credits | (0.10%) | (3.00%) | (1.70%) |
effective income tax rate reconciliation, foreign deferred tax asset, percent | (3.00%) | (2.50%) | (0.00%) |
Reduction of uncrecognized tax benefits | 0.00% | 0.00% | (0.80%) |
Research credits | (0.70%) | (0.80%) | (0.90%) |
Reduction of valuation allowance | (0.00%) | (0.00%) | (2.70%) |
Excess tax benefits from stock plans | (2.30%) | (2.10%) | 0.00% |
Other | 0.50% | 0.50% | 0.10% |
Actual provision for income taxes | 22.00% | 22.80% | 27.30% |
Reduction of U.S. federal corporate tax rate | 5.60% | 0.00% | 0.00% |
Transition tax on foreign earnings | 18.70% | 0.00% | 0.00% |
Deferred tax liability associated with future repatriations | 8.90% | 0.00% | 0.00% |
Foreign tax credits | 2.70% | 0.00% | 0.00% |
Provision for income taxes related to the TCJA | 35.90% | 0.00% | 0.00% |
Scenario, Adjustment | |||
Income Tax Contingency [Line Items] | |||
Actual provision for income taxes | 57.90% | 22.80% | 27.30% |
Income Taxes (Significant Compo
Income Taxes (Significant Components of Deferred Taxes) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Income Tax Disclosure [Abstract] | ||
Non-deductible accruals and allowances | $ 37,971,000 | $ 51,724,000 |
Capitalized inventory costs | 21,625,000 | 39,661,000 |
Stock compensation | 3,867,000 | 6,476,000 |
Net operating loss carryforwards | 20,085,000 | 3,637,000 |
Depreciation and amortization | 25,020,000 | 19,313,000 |
Tax credits | 31,000 | 443,000 |
Foreign currency gain | 5,657,000 | 0 |
Other | 276,000 | 263,000 |
Gross deferred tax assets | 114,532,000 | 121,517,000 |
Valuation allowance | (16,428,000) | (1,323,000) |
Net deferred tax assets | 98,104,000 | 120,194,000 |
Depreciation and amortization | (15,395,000) | (25,703,000) |
Prepaid expenses | (2,383,000) | 0 |
Deferred tax liability associated with future repatriations | (23,690,000) | 0 |
Foreign currency loss | 0 | (667,000) |
Other | 0 | (1,477,000) |
Gross deferred tax liabilities | (41,468,000) | (27,847,000) |
Total net deferred taxes | $ 56,636,000 | $ 92,347,000 |
Income Taxes (Reconciliation 62
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of period | $ 9,998 | $ 11,187 | $ 6,630 |
Increases related to prior year tax positions | 858 | 2,514 | 365 |
Decreases related to prior year tax positions | (2,895) | (5,119) | (2,019) |
Increases related to current year tax positions | 2,714 | 1,599 | 6,564 |
Expiration of statute of limitations | (163) | (183) | (353) |
Balance at end of period | $ 10,512 | $ 9,998 | $ 11,187 |
Other Long-Term Liabilities (Sc
Other Long-Term Liabilities (Schedule of Other Long-Term Liabilities) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Other Liabilities Disclosure [Abstract] | ||
Straight-line and deferred rent liabilities | $ 31,016,000 | $ 30,869,000 |
Asset retirement obligations | 4,580,000 | 3,342,000 |
Deferred compensation plan liability | 9,319,000 | 8,411,000 |
Derivative financial instruments (Note 19) | 3,820,000 | 0 |
Total other long-term liabilities | $ 48,735,000 | $ 42,622,000 |
Retirement Savings Plans (Narra
Retirement Savings Plans (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Liability to participants under deferred compensation plan | $ 9,319,000 | $ 8,411,000 | |
Current liability to participants under deferred compensation plan | 1,437,000 | 472,000 | |
401(k) Profit-Sharing Plan [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Company contributions to the plan | 7,666,000 | 7,754,000 | $ 6,981,000 |
Deferred Compensation Plan [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Company contributions to the plan | 210,000 | 200,000 | $ 180,000 |
Other Noncurrent Assets [Member] | Deferred Compensation Plan [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Fair value of mutual fund investments | 9,319,000 | 8,411,000 | |
Short-term Investments [Member] | Deferred Compensation Plan [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Fair value of mutual fund investments | $ 1,437,000 | $ 472,000 |
Commitments and Contingencies65
Commitments and Contingencies (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($)yr | |
Inventories [Member] | |
Loss Contingencies [Line Items] | |
Outstanding inventory purchase obligations | $ | $ 266,507,000 |
Minimum [Member] | |
Loss Contingencies [Line Items] | |
Operating leases, base lease term | 5 |
Maximum [Member] | |
Loss Contingencies [Line Items] | |
Operating leases, base lease term | 10 |
Commitments and Contingencies66
Commitments and Contingencies (Schedule of Rent Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Rent expense | $ 86,121 | $ 77,083 | $ 69,570 |
Selling, General and Administrative Expense [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Rent expense | 84,564 | 75,457 | 67,881 |
Cost of Sales [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Rent expense | $ 1,557 | $ 1,626 | $ 1,689 |
Commitments and Contingencies67
Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,018 | $ 68,686 |
2,019 | 58,286 |
2,020 | 49,148 |
2,021 | 42,041 |
2,022 | 38,416 |
Thereafter | 113,961 |
Operating leases, future minimum payments due, total | $ 370,538 |
Shareholders' Equity (Narrative
Shareholders' Equity (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity [Abstract] | |||
Stock repurchase plan, authorized amount | $ 700,000,000 | ||
Aggregate shares repurchased under stock repurchase plan | 21,658,035 | ||
Stock repurchased to date, value | $ 562,064,000 | ||
Stock Repurchased During Period, Value | $ 35,542,000 | $ 11,000 | $ 70,068,000 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 10,463,000 | $ 9,576,000 | $ 11,872,000 |
Shares authorized | 20,800,000 | ||
Shares available for future grants | 2,701,396 | ||
Stock-based compensation expense | $ 11,286,000 | 10,986,000 | 11,672,000 |
Stock Options [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Stock-based compensation expense | 3,843,000 | 3,896,000 | 3,637,000 |
Unrecognized costs related to share based compensation | $ 7,166,000 | ||
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 4 months 6 days | ||
Intrinsic value of stock options exercised | $ 19,836,000 | 12,976,000 | 20,400,000 |
Cash received on exercises of stock options | $ 19,946,000 | 13,167,000 | 17,442,000 |
Stock Options [Member] | After2008 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 4 years | ||
Expiration period, years | 10 years | ||
Service Based Restricted Stock Units [Member] | After2008 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 4 years | ||
Performance Based Restricted Stock Units [Member] | Minimum [Member] | Prior To2010 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 2 years 6 months | ||
Performance Based Restricted Stock Units [Member] | Minimum [Member] | After2009 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 2 years | ||
Performance Based Restricted Stock Units [Member] | Maximum [Member] | Prior To2010 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 3 years | ||
Performance Based Restricted Stock Units [Member] | Maximum [Member] | After2009 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Vesting period of options granted, years | 3 years | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Stock-based compensation expense | $ 7,443,000 | $ 7,090,000 | $ 8,035,000 |
Unrecognized costs related to share based compensation | $ 14,174,000 | ||
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 2 months 26 days | ||
Company withheld shares | 65,437 | 88,335 | 90,355 |
Company withheld shares, tax obligations | $ 3,662,000 | $ 5,127,000 | $ 4,895,000 |
Grant date fair value of vested units | $ 7,477,000 | $ 7,988,000 | $ 6,848,000 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax stock-based compensation expense | $ 11,286 | $ 10,986 | $ 11,672 |
Income tax benefits | (1,778) | (3,969) | (4,044) |
Total stock-based compensation expense, net of tax | 9,508 | 7,017 | 7,628 |
Cost of Sales [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax stock-based compensation expense | 243 | 233 | 326 |
Selling, General and Administrative Expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax stock-based compensation expense | $ 11,043 | $ 10,753 | $ 11,346 |
Stock-Based Compensation (Sch71
Stock-Based Compensation (Schedule of Weighted Average Assumptions) (Details) - Stock Options [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term, years | 4 years 6 months 14 days | 4 years 7 months 18 days | 4 years 7 months 5 days |
Expected stock price volatility | 28.91% | 29.79% | 26.57% |
Risk-free interest rate | 1.73% | 1.17% | 1.20% |
Expected dividend yield | 1.29% | 1.20% | 1.26% |
Weighted average grant date fair value | $ 13.11 | $ 13.38 | $ 10.36 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Options outstanding, beginning, number of shares | 2,151,542 | 2,288,870 | 2,640,785 | |
Granted, number of shares | 540,537 | 430,544 | 500,761 | |
Cancelled, number of shares | (246,450) | (117,699) | (172,018) | |
Exercised, number of shares | (675,742) | (450,173) | (680,658) | |
Options outstanding, ending, number of shares | 1,769,887 | 2,151,542 | 2,288,870 | 2,640,785 |
Options outstanding, beginning, weighted average exercise price | $ 37.40 | $ 32.69 | $ 28 | |
Granted, weighted average exercise price | 55.90 | 56.63 | 48.46 | |
Cancelled, weighted average exercise price | 50.62 | 47.33 | 34.59 | |
Exercised, weighted average exercise price | 29.52 | 29.25 | 25.63 | |
Options outstanding, ending, weighted average exercise price | $ 44.22 | $ 37.40 | $ 32.69 | $ 28 |
Options outstanding, beginning, weighted average remaining contractual life, years | 6 years 8 months 8 days | 6 years 4 months 22 days | 6 years 6 months | 6 years 6 months |
Options outstanding, ending, weighted average remaining contractual life, years | 6 years 8 months 8 days | 6 years 4 months 22 days | 6 years 6 months | 6 years 6 months |
Options outstanding, beginning, aggregate intrinsic value | $ 45,253 | $ 38,209 | $ 43,682 | |
Options outstanding, ending, aggregate intrinsic value | $ 48,962 | $ 45,253 | $ 38,209 | $ 43,682 |
Options vested and expected to vest, number of shares | 1,704,394 | |||
Options vested and expected to vest, weighted average exercise price | $ 43.77 | |||
Options vested and expected to vest, weighted average remining contractual life, years | 6 years 7 months 9 days | |||
Options vested and expected to vest, aggregate intrinsic value | $ 47,904 | |||
Options exercisable, number of shares | 875,433 | |||
Options exercisable, weighted average exercise price | $ 34.17 | |||
Options exercisable, weighted average remaining contractual life | 4 years 11 months 12 days | |||
Options exercisable, aggregate intrinsic value | $ 33,016 |
Stock-Based Compensation (Sch73
Stock-Based Compensation (Schedule of Weighted Average Assumptions for Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years 10 months 15 days | 3 years 6 months 26 days | 3 years 9 months 25 days |
Expected dividend yield | 1.30% | 1.08% | 1.14% |
Estimated average fair value per restricted stock unit granted | $ 52.45 | $ 55.93 | $ 51.07 |
Stock-Based Compensation (Sum74
Stock-Based Compensation (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock units outstanding, beginning, number of shares | 466,475 | 553,289 | 658,760 |
Granted, number of shares | 270,169 | 205,734 | 207,040 |
Vested, number of shares | (176,654) | (235,059) | (243,765) |
Forfeited, number of shares | (110,515) | (57,489) | (68,746) |
Restricted stock units outstanding, ending, number of shares | 449,475 | 466,475 | 553,289 |
Restricted stock units outstanding, beginning, weighted average grate date fair value per share | $ 47.23 | $ 38.85 | $ 31.03 |
Granted, weighted average grant date fair value per share | 52.45 | 55.93 | 51.07 |
Vested, weighted average grant date fair value | 42.32 | 33.98 | 28.09 |
Forfeited, weighted average grant date fair value | 48.13 | 46.35 | 34.57 |
Restricted stock units outstanding, ending, weighted average grate date fair value per share | $ 52.07 | $ 47.23 | $ 38.85 |
Earnings per Share (Narrative)
Earnings per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stock Options And Service Based Restricted Stock Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, number of shares | 887,595 | 517,654 | 154,170 |
Performance Based Restricted Stock Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, number of shares | 40,848 | 63,430 | 122,858 |
Earnings per Share (Schedule of
Earnings per Share (Schedule of Earnings per Share, Basic and Diluted) (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||
Weighted average common shares outstanding, used in computing basic earnings per share | 69,759 | 69,683 | 70,162 |
Effect of dilutive stock options and restricted stock units | 694 | 949 | 902 |
Weighted-average common shares outstanding, used in computing diluted earnings per share | 70,453 | 70,632 | 71,064 |
Basic | $ 1.51 | $ 2.75 | $ 2.48 |
Diluted | $ 1.49 | $ 2.72 | $ 2.45 |
Accumulated Other Comprehensi77
Accumulated Other Comprehensive Income (Accumulated Other Comprehensive Income, Net of Related Tax Effects) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income at beginning of period | $ (22,617) | $ (20,836) | $ 15,833 |
Other comprehensive income (loss) before reclassifications | 15,660 | (2,047) | (23,970) |
Amounts reclassified from other comprehensive income | (1,930) | 266 | (12,699) |
Net other comprehensive income (loss) during the period | 13,730 | (1,781) | (36,669) |
Accumulated other comprehensive income at end of period | (8,887) | (22,617) | (20,836) |
Unrealized Holding Gains (Losses) on Available-For-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income at beginning of period | (4) | (2) | 4 |
Other comprehensive income (loss) before reclassifications | 0 | (2) | (6) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 0 | (2) | (6) |
Accumulated other comprehensive income at end of period | (4) | (4) | (2) |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income at beginning of period | 6,773 | 6,087 | 8,995 |
Other comprehensive income (loss) before reclassifications | (15,559) | 420 | 9,791 |
Amounts reclassified from other comprehensive income | (1,930) | 266 | (12,699) |
Net other comprehensive income (loss) during the period | (17,489) | 686 | (2,908) |
Accumulated other comprehensive income at end of period | (10,716) | 6,773 | 6,087 |
Foreign Currency Translation Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income at beginning of period | (29,386) | (26,921) | 6,834 |
Other comprehensive income (loss) before reclassifications | 31,219 | (2,465) | (33,755) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 31,219 | (2,465) | (33,755) |
Accumulated other comprehensive income at end of period | $ 1,833 | $ (29,386) | $ (26,921) |
Segment Information (Schedule o
Segment Information (Schedule of Segment Information) (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)segment | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable geographic segments | segment | 4 | ||
Net sales to unrelated entities | $ 2,466,105,000 | $ 2,377,045,000 | $ 2,326,180,000 |
Income (loss) from operations | 262,969,000 | 256,508,000 | 249,721,000 |
Interest income (expense), net | 4,515,000 | 2,003,000 | 1,531,000 |
Interest expense on note payable to related party | 429,000 | 1,041,000 | 1,099,000 |
Other non-operating expense | (321,000) | (572,000) | (2,834,000) |
Income before income taxes | 266,734,000 | 256,898,000 | 247,319,000 |
Income tax (expense) benefit | (154,419,000) | (58,459,000) | (67,468,000) |
Depreciation and amortization expense | 59,945,000 | 60,016,000 | 56,521,000 |
Accounts receivable, net | 364,862,000 | 333,678,000 | |
Inventories | 457,927,000 | 487,997,000 | |
Property, plant and equipment, net | 281,394,000 | 279,650,000 | |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 1,520,026,000 | 1,505,302,000 | 1,455,283,000 |
Income (loss) from operations | 334,207,000 | 331,706,000 | 309,162,000 |
Interest income (expense), net | 2,573,000 | 2,334,000 | 4,765,000 |
Income tax (expense) benefit | (129,194,000) | (45,584,000) | (58,487,000) |
Depreciation and amortization expense | 24,662,000 | 24,920,000 | 25,490,000 |
Accounts receivable, net | 180,742,000 | 162,017,000 | |
Inventories | 285,481,000 | 308,721,000 | |
LAAP [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 475,128,000 | 453,686,000 | 469,140,000 |
Income (loss) from operations | 73,748,000 | 61,994,000 | 65,846,000 |
Interest income (expense), net | 289,000 | (216,000) | (555,000) |
Income tax (expense) benefit | (14,935,000) | (12,345,000) | (10,058,000) |
Depreciation and amortization expense | 6,495,000 | 6,392,000 | 5,437,000 |
Accounts receivable, net | 95,765,000 | 84,947,000 | |
Inventories | 84,149,000 | 95,033,000 | |
EMEA [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 293,700,000 | 253,487,000 | 233,226,000 |
Income (loss) from operations | 11,897,000 | 8,403,000 | 8,664,000 |
Interest income (expense), net | 7,072,000 | 2,663,000 | 152,000 |
Income tax (expense) benefit | (4,716,000) | 1,507,000 | 5,305,000 |
Depreciation and amortization expense | 4,043,000 | 3,189,000 | 2,419,000 |
Accounts receivable, net | 42,659,000 | 42,195,000 | |
Inventories | 57,055,000 | 51,226,000 | |
Canada [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 177,251,000 | 164,570,000 | 168,531,000 |
Income (loss) from operations | 26,427,000 | 19,010,000 | 23,772,000 |
Interest income (expense), net | (5,419,000) | (2,778,000) | (2,831,000) |
Income tax (expense) benefit | (5,574,000) | (2,037,000) | (4,228,000) |
Depreciation and amortization expense | 2,831,000 | 2,912,000 | 3,020,000 |
Accounts receivable, net | 45,696,000 | 44,519,000 | |
Inventories | 31,242,000 | 33,017,000 | |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Income (loss) from operations | 446,279,000 | 421,113,000 | 407,444,000 |
Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Unallocated corporate expense | (183,310,000) | (164,605,000) | (157,723,000) |
Depreciation and amortization expense | 21,914,000 | 22,603,000 | 20,155,000 |
Apparel, Accessories And Equipment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 1,927,957,000 | 1,865,449,000 | 1,821,182,000 |
Footwear [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales to unrelated entities | 538,148,000 | 511,596,000 | $ 504,998,000 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Property, plant and equipment, net | 206,172,000 | 211,572,000 | |
CANADA | |||
Segment Reporting Information [Line Items] | |||
Property, plant and equipment, net | 30,318,000 | 28,159,000 | |
All Other Countries [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, plant and equipment, net | $ 44,904,000 | $ 39,919,000 |
Financial Instruments and Ris79
Financial Instruments and Risk Management (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Derivatives [Line Items] | |
Deferred net gains on derivatives accumulated in other comprehensive income expected to be reclassified to net income in next twelve months | $ 10,261,000 |
Maximum [Member] | |
Derivatives [Line Items] | |
Remaining maturity of derivative contracts | 3 years |
Aggregate unrealized gain of derivative contracts with single counterparty | $ 2,000,000 |
Financial Instruments and Ris80
Financial Instruments and Risk Management (Gross Notional Amount of Outstanding Derivatives) (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Currency forward contracts | $ 448,448 | $ 206,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Currency forward contracts | $ 231,161 | $ 184,940 |
Financial Instruments and Ris81
Financial Instruments and Risk Management (Balance Sheet Classification and Fair Value of Derivative Instruments) (Details) - Forward Contracts [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Not Designated as Hedging Instrument [Member] | Prepaid Expenses And Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative assets | $ 683 | $ 1,361 |
Not Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative liabilities | 1,229 | 180 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Prepaid Expenses And Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative assets | 1,648 | 9,805 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative assets | 335 | 1,969 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative liabilities | 9,336 | 106 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Long Term Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative liabilities | $ 3,820 | $ 0 |
Financial Instruments and Ris82
Financial Instruments and Risk Management (Effect and Classification of Derivative Instuments) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in other comprehensive income, net of tax | $ (15,862) | $ 583 | $ 9,791 |
Designated as Hedging Instrument [Member] | Cost of Sales [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) reclassified from accumulated other comprehensive income to income for the effective portion | 1,195 | (724) | 15,446 |
Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance | 0 | (24) | 0 |
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | 2,843 | 1,240 | (209) |
Designated as Hedging Instrument [Member] | Sales [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) reclassified from accumulated other comprehensive income to income for the effective portion | 144 | 115 | 385 |
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion | 6 | 1 | (30) |
Designated as Hedging Instrument [Member] | Other Non-Operating Income (Expense) [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Loss reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance | (178) | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income (Expense) [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in income | $ (3,943) | $ 2,739 | $ 2,838 |
Fair Value Measures (Assets and
Fair Value Measures (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 472,969 | $ 394,914 |
Liabilities, Fair Value Disclosure | 14,385 | 286 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 346,425 | 381,779 |
Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 126,544 | 13,135 |
Liabilities, Fair Value Disclosure | 14,385 | 286 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 282,860 | 299,769 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 282,860 | 299,769 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 52,808 | 73,127 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 52,808 | 73,127 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
US Treasury Securities [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 4,995 | |
US Treasury Securities [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 19,963 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 4,995 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 19,963 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Municipal Bonds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 25,338 | |
Municipal Bonds [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 73,582 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 25,338 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 73,582 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Derivative Financial Instruments, Assets [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,331 | 11,166 |
Derivative Financial Instruments, Assets [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 335 | 1,969 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,331 | 11,166 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 335 | 1,969 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Trading Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,438 | 472 |
Mutual Fund Shares [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 9,319 | 8,411 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 1 [Member] | Trading Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 1,438 | 472 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 1 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 9,319 | 8,411 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 2 [Member] | Trading Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 2 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 3 [Member] | Trading Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Mutual Fund Shares [Member] | Fair Value, Inputs, Level 3 [Member] | Non Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 10,565 | 286 |
Derivative Financial Instruments, Liabilities [Member] | Other Long Term Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 3,820 | |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | Other Long Term Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 0 | |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 10,565 | 286 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | Other Long Term Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 3,820 | |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | 0 | $ 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | Other Long Term Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) | 12 Months Ended | ||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2017CNY (¥) | |
Related Party Transactions [Abstract] | |||||
Related party service fees | $ 1,006,000 | $ 3,294,000 | $ 5,974,000 | ||
Related party sourcing fees | 21,000 | 71,000 | 396,000 | ||
Note payable to related party | 0 | 14,053,000 | $ 14,236,000 | ¥ 97,600,000 | |
Interest expense on note payable to related party | 429,000 | 1,041,000 | $ 1,099,000 | ||
Accounts payable to related party | $ 89,000 | $ 707,000 |
Valuation and Qualifying Acco85
Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Allowance for Doubtful Accounts [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | $ 8,556 | $ 9,928 | $ 8,943 | |
Charged to Costs and Expenses | 3,296 | 2,037 | 2,788 | |
Deductions | [1] | (3,174) | (3,406) | (1,239) |
Valuation Allowances and Reserves, Adjustments | [2] | 365 | (3) | (564) |
Balance at End of Period | 9,043 | 8,556 | 9,928 | |
Allowance For Sales Returns And Miscellaneous Claims [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 39,768 | 40,510 | 27,379 | |
Charged to Costs and Expenses | 80,116 | 49,822 | 54,017 | |
Deductions | [1] | (75,066) | (50,548) | (40,022) |
Valuation Allowances and Reserves, Adjustments | [2] | 1,488 | (16) | (864) |
Balance at End of Period | $ 46,306 | $ 39,768 | $ 40,510 | |
[1] | Charges to the accounts included in this column are for the purposes for which the reserves were created. | |||
[2] | Amounts included in this column primarily relate to foreign currency translation. |