Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 25, 2019 | |
Cover page. | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 0-23939 | |
Entity Registrant Name | COLUMBIA SPORTSWEAR COMPANY | |
Entity Incorporation, State or Country Code | OR | |
Entity Tax Identification Number | 93-0498284 | |
Entity Address, Address Line One | 14375 Northwest Science Park Drive | |
Entity Address, City or Town | Portland | |
Entity Address, State or Province | OR | |
Entity Address, Postal Zip Code | 97229 | |
City Area Code | 503 | |
Local Phone Number | 985-4000 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | COLM | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001050797 | |
Current Fiscal Year End Date | --12-31 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 67,525,997 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Operating Lease, Liability, Noncurrent | $ 366,515,000 | $ 0 | $ 0 |
Current Assets: | |||
Cash and cash equivalents | 239,311,000 | 437,825,000 | 182,175,000 |
Restricted Cash, Current | 0 | 13,970,000 | 13,970,000 |
Short-term investments | 1,477,000 | 262,802,000 | 269,313,000 |
Accounts receivable, net of allowance of $6,887, $9,043 and $8,666, respectively | 646,414,000 | 449,382,000 | 552,442,000 |
Inventories | 717,396,000 | 521,827,000 | 617,194,000 |
Prepaid expenses and other current assets | 94,253,000 | 79,500,000 | 77,763,000 |
Total current assets | 1,698,851,000 | 1,765,306,000 | 1,712,857,000 |
Property, plant and equipment, at cost, net of accumulated depreciation of $472,447, $455,811 and $435,625, respectively | 349,302,000 | 291,596,000 | 284,744,000 |
Operating Lease, Right-of-Use Asset | 389,558,000 | 0 | 0 |
Intangible assets, net (Note 5) | 124,340,000 | 126,575,000 | 127,320,000 |
Goodwill | 68,594,000 | 68,594,000 | 68,594,000 |
Deferred income taxes | 80,193,000 | 78,155,000 | 68,913,000 |
Other non-current assets | 40,242,000 | 38,495,000 | 36,911,000 |
Total assets | 2,751,080,000 | 2,368,721,000 | 2,299,339,000 |
Line of Credit, Current | 0 | 0 | 8,311,000 |
Current Liabilities: | |||
Accounts payable | 201,806,000 | 274,435,000 | 237,344,000 |
Accrued liabilities (Note 6) | 279,932,000 | 275,684,000 | 255,682,000 |
Operating Lease, Liability, Current | 62,756,000 | 0 | 0 |
Income taxes payable | 13,653,000 | 22,763,000 | 8,247,000 |
Total current liabilities | 558,147,000 | 572,882,000 | 509,584,000 |
Other Liabilities, Noncurrent | 22,982,000 | 45,214,000 | 46,056,000 |
Income taxes payable, noncurrent | 48,619,000 | 50,791,000 | 62,090,000 |
Deferred income taxes | 7,711,000 | 9,521,000 | 13,000 |
Total liabilities | 1,003,974,000 | 678,408,000 | 617,743,000 |
Commitments and Contingencies | 0 | 0 | 0 |
Equity: | |||
Preferred stock; 10,000 shares authorized; none issued and outstanding | 0 | 0 | 0 |
Common stock (no par value); 250,000 shares authorized; 69,988, 69,995, and 69,686 issued and outstanding, respectively (Note 9) | 0 | 0 | 210,000 |
Retained earnings | 1,754,379,000 | 1,677,920,000 | 1,669,390,000 |
Accumulated other comprehensive loss (Note 8) | (7,273,000) | (4,063,000) | (4,235,000) |
Total shareholders' equity | 1,747,106,000 | 1,673,857,000 | 1,665,365,000 |
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 16,456,000 | 16,231,000 |
Total equity | 1,747,106,000 | 1,690,313,000 | 1,681,596,000 |
Total liabilities and equity | $ 2,751,080,000 | $ 2,368,721,000 | $ 2,299,339,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Allowance for doubtful accounts | $ 9,672 | $ 11,051 | $ 9,176 |
Accumulated depreciation for property, plant and equipment | 515,300 | 489,354 | 483,857 |
Commitments and Contingencies | $ 0 | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 10,000 | 10,000 | 10,000 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 | 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 250,000 | 250,000 | 250,000 |
Common Stock, Shares, Issued | 67,562 | 68,246 | 69,270 |
Common Stock, Shares, Outstanding | 67,562 | 68,246 | 69,270 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net sales | $ 906,793 | $ 795,801 | $ 2,087,611 | $ 1,884,728 |
Cost of sales | 460,098 | 412,098 | 1,050,596 | 972,966 |
Gross profit | 446,695 | 383,703 | 1,037,015 | 911,762 |
Selling, general and administrative expenses | 299,249 | 259,267 | 791,767 | 724,827 |
Income from operations | 152,015 | 129,144 | 256,338 | 198,214 |
Interest income, net | 1,399 | 2,524 | 7,370 | 7,748 |
Other non-operating expense | (563) | 736 | 915 | 372 |
Income before income tax | 152,851 | 132,404 | 264,623 | 206,334 |
Income tax expense | (33,593) | (30,029) | (48,159) | (44,735) |
Net income | 119,258 | 102,375 | 216,464 | 161,599 |
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 2,223 | 0 | 6,603 |
Net income attributable to Columbia Sportswear Company | $ 119,258 | $ 100,152 | $ 216,464 | $ 154,996 |
Earnings per share (Note 9): | ||||
Basic (in dollars per share) | $ 1.76 | $ 1.44 | $ 3.19 | $ 2.22 |
Diluted (in dollars per share) | 1.75 | 1.42 | 3.15 | 2.19 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.24 | $ 0.22 | $ 0.72 | $ 0.66 |
Weighted average shares outstanding (Note 9): | ||||
Basic (in shares) | 67,593 | 69,589 | 67,935 | 69,895 |
Diluted (in shares) | 68,180 | 70,357 | 68,620 | 70,685 |
License [Member] | ||||
Other Operating Income (Expense), Net | $ 4,569 | $ 4,708 | $ 11,090 | $ 11,279 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net Income (Loss) Attributable to Parent | $ 119,258 | $ 100,152 | $ 216,464 | $ 154,996 |
Net income | 119,258 | 102,375 | 216,464 | 161,599 |
Other comprehensive income: | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | (162) | 56 | (158) |
Unrealized gains (losses) on derivative transactions (net of tax effects of ($6,540), $3,361, ($4,974), and $4,241, respectively) | 2,414 | 2,896 | 1,866 | 18,542 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (8,389) | (562) | (5,033) | (12,565) |
Other comprehensive income | (5,975) | 2,172 | (3,111) | 5,819 |
Comprehensive income | 113,283 | 104,547 | 213,353 | 167,418 |
Comprehensive income attributable to non-controlling interest | 0 | 2,256 | 0 | 7,255 |
Comprehensive income attributable to Columbia Sportswear Company | $ 113,283 | $ 102,291 | $ 213,353 | $ 160,163 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Unrealized losses on derivative transactions tax effects | $ (801) | $ (1,062) | $ (369) | $ (6,036) |
Foreign currency translation adjustments tax effects | $ 1,560 | $ (39) | $ 2,447 | $ 1,780 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements Of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Payments to Noncontrolling Interests | $ (17,880,000) | $ 0 |
Cash flows from operating activities: | ||
Net income | 216,464,000 | 161,599,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 88,775,000 | 43,544,000 |
Loss on disposal of property, plant, and equipment | 4,866,000 | 1,979,000 |
Deferred income taxes | (3,157,000) | 2,103,000 |
Stock-based compensation | 13,159,000 | 10,247,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (199,416,000) | (125,433,000) |
Inventories | (198,999,000) | (188,544,000) |
Prepaid expenses and other current assets | (12,596,000) | (7,968,000) |
Other assets | (3,981,000) | (9,782,000) |
Accounts payable | (65,191,000) | (14,263,000) |
Accrued liabilities | 6,497,000 | 38,193,000 |
Income taxes payable | (11,286,000) | (7,200,000) |
Increase (Decrease) in Operating Liabilities | (39,010,000) | 0 |
Other liabilities | 5,716,000 | (2,541,000) |
Net cash provided by operating activities | (198,159,000) | (98,066,000) |
Cash flows from investing activities: | ||
Purchases of short-term investments | (181,257,000) | (426,278,000) |
Proceeds from Sale, Maturity and Collection of Short-term Investments | 445,501,000 | 252,727,000 |
Capital expenditures | (104,527,000) | (45,189,000) |
Proceeds from sale of property, plant, and equipment | 0 | 18,000 |
Net cash used in investing activities | 159,717,000 | (218,722,000) |
Cash flows from financing activities: | ||
Proceeds from credit facilities | 74,053,000 | 36,051,000 |
Repayments on credit facilities | (74,053,000) | (27,740,000) |
Proceeds from issuance of common stock under employee stock plans | 17,687,000 | 16,508,000 |
Tax payments related to restricted stock unit issuances | (5,739,000) | (4,221,000) |
Payments for Repurchase of Common Stock | (116,239,000) | (107,222,000) |
Cash dividends paid | (48,917,000) | (46,160,000) |
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | (19,949,000) |
Net cash used in financing activities | (171,088,000) | (152,733,000) |
Net effect of exchange rate changes on cash | (2,954,000) | (7,500,000) |
Net increase (decrease) in cash and cash equivalents | (212,484,000) | (477,021,000) |
Cash, cash equivalents and restricted cash, beginning of period | 451,795,000 | 673,166,000 |
Cash, cash equivalents and restricted cash, end of period | 239,311,000 | 196,145,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | 73,413,000 | 47,041,000 |
Supplemental disclosures of non-cash investing activities: | ||
Capital expenditures incurred but not yet paid | $ 11,638,000 | $ 7,380,000 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Equity Parenthetical - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.24 | $ 0.22 | $ 0.72 | $ 0.66 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Equity Table YTD - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Non-controlling Interest [Member] |
Common Stock, Shares, Outstanding | 69,995 | ||||
Stockholders' Equity Attributable to Parent | $ 45,829 | $ 1,585,009 | $ (8,887) | ||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 30,308 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,652,259 | ||||
Amortization of Intangible Assets | 2,200 | ||||
Net Income (Loss) Attributable to Parent | 154,996 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | (158) | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (158) | (158) | 0 | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 18,542 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 18,542 | 17,472 | 1,070 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (12,565) | (12,147) | (418) | ||
Dividends | (21,332) | (21,332) | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 14,100 | 14,615 | (515) | ||
Dividends, Cash | (46,160) | (46,160) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 535 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 12,286 | $ 12,286 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 10,247 | $ 10,247 | |||
Stock Repurchased During Period, Shares | (1,260) | ||||
Stock Repurchased During Period, Value | (107,222) | $ (68,152) | 39,070 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 6,603 | ||||
Net income | 161,599 | ||||
Common Stock, Shares, Outstanding | 69,988 | ||||
Stockholders' Equity Attributable to Parent | $ 23,162 | 1,623,612 | (6,374) | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 13,975 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,654,375 | ||||
Amortization of Intangible Assets | 700 | ||||
Net Income (Loss) Attributable to Parent | 100,152 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | (162) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,896 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 2,896 | 2,352 | 544 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (562) | (51) | (511) | ||
Dividends, Cash | (15,304) | (15,304) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 42 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 1,446 | $ 1,446 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 3,648 | $ 3,648 | |||
Stock Repurchased During Period, Shares | (760) | ||||
Stock Repurchased During Period, Value | (67,116) | $ (28,046) | 39,070 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 2,223 | ||||
Net income | $ 102,375 | ||||
Common Stock, Shares, Outstanding | 69,270 | 69,270 | |||
Stockholders' Equity Attributable to Parent | $ 1,665,365 | $ 210 | 1,669,390 | (4,235) | |
Stockholders' Equity Attributable to Noncontrolling Interest | 16,231 | 16,231 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,681,596 | ||||
Common Stock, Shares, Outstanding | 68,246 | 68,246 | |||
Stockholders' Equity Attributable to Parent | $ 1,673,857 | $ 0 | 1,677,920 | (4,063) | |
Stockholders' Equity Attributable to Noncontrolling Interest | 16,456 | 16,456 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,690,313 | ||||
Amortization of Intangible Assets | 2,200 | ||||
Net Income (Loss) Attributable to Parent | 216,464 | ||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (16,555) | (99) | (16,456) | ||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 56 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | 56 | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1,866 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 1,866 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (5,033) | ||||
Dividends, Cash | (48,917) | (48,917) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 507 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 11,948 | $ 11,948 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 13,159 | $ 13,159 | |||
Stock Repurchased During Period, Shares | (1,191) | ||||
Stock Repurchased During Period, Value | (116,195) | $ (25,107) | 91,088 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | ||||
Net income | 216,464 | ||||
Common Stock, Shares, Outstanding | 67,586 | ||||
Stockholders' Equity Attributable to Parent | $ 100 | 1,656,392 | (1,298) | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,655,194 | ||||
Amortization of Intangible Assets | 700 | ||||
Net Income (Loss) Attributable to Parent | 119,258 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,414 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 2,414 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (8,389) | ||||
Dividends, Cash | (16,231) | (16,231) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 135 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,251 | $ 6,251 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 4,378 | $ 4,378 | |||
Stock Repurchased During Period, Shares | (159) | ||||
Stock Repurchased During Period, Value | (15,769) | $ (10,729) | 5,040 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | ||||
Net income | $ 119,258 | ||||
Common Stock, Shares, Outstanding | 67,562 | 67,562 | |||
Stockholders' Equity Attributable to Parent | $ 1,747,106 | $ 0 | $ 1,754,379 | $ (7,273) | |
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | $ 0 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,747,106 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Equity Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Non-controlling Interest [Member] |
Common Stock, Shares, Outstanding | 69,995 | ||||
Stockholders' Equity Attributable to Parent | $ 45,829 | $ 1,585,009 | $ (8,887) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,652,259 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 30,308 | ||||
Net Income (Loss) Attributable to Parent | 154,996 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 6,603 | ||||
Net income | 161,599 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | (158) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 18,542 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 18,542 | 17,472 | 1,070 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (12,565) | (12,147) | (418) | ||
Dividends, Cash | (46,160) | (46,160) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 535 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 12,286 | $ 12,286 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 10,247 | $ 10,247 | |||
Stock Repurchased During Period, Shares | (1,260) | ||||
Stock Repurchased During Period, Value | (107,222) | $ (68,152) | 39,070 | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 14,100 | 14,615 | (515) | ||
Common Stock, Shares, Outstanding | 69,988 | ||||
Stockholders' Equity Attributable to Parent | $ 23,162 | 1,623,612 | (6,374) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,654,375 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | 13,975 | ||||
Net Income (Loss) Attributable to Parent | 100,152 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2,223 | ||||
Net income | 102,375 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | (162) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,896 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 2,896 | 2,352 | 544 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (562) | (51) | (511) | ||
Dividends, Cash | (15,304) | (15,304) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 42 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 1,446 | $ 1,446 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 3,648 | $ 3,648 | |||
Stock Repurchased During Period, Shares | (760) | ||||
Stock Repurchased During Period, Value | $ (67,116) | $ (28,046) | 39,070 | ||
Common Stock, Shares, Outstanding | 69,270 | 69,270 | |||
Stockholders' Equity Attributable to Parent | $ 1,665,365 | $ 210 | 1,669,390 | (4,235) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,681,596 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 16,231 | 16,231 | |||
Common Stock, Shares, Outstanding | 68,246 | 68,246 | |||
Stockholders' Equity Attributable to Parent | $ 1,673,857 | $ 0 | 1,677,920 | (4,063) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,690,313 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | 16,456 | 16,456 | |||
Net Income (Loss) Attributable to Parent | 216,464 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | ||||
Net income | 216,464 | ||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (16,555) | (99) | (16,456) | ||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 56 | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1,866 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 1,866 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (5,033) | ||||
Dividends, Cash | (48,917) | (48,917) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 507 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 11,948 | $ 11,948 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 13,159 | $ 13,159 | |||
Stock Repurchased During Period, Shares | (1,191) | ||||
Stock Repurchased During Period, Value | (116,195) | $ (25,107) | 91,088 | ||
Common Stock, Shares, Outstanding | 67,586 | ||||
Stockholders' Equity Attributable to Parent | $ 100 | 1,656,392 | (1,298) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,655,194 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | ||||
Net Income (Loss) Attributable to Parent | 119,258 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | ||||
Net income | 119,258 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,414 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 2,414 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (8,389) | ||||
Dividends, Cash | (16,231) | (16,231) | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 135 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,251 | $ 6,251 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 4,378 | $ 4,378 | |||
Stock Repurchased During Period, Shares | (159) | ||||
Stock Repurchased During Period, Value | $ (15,769) | $ (10,729) | 5,040 | ||
Common Stock, Shares, Outstanding | 67,562 | 67,562 | |||
Stockholders' Equity Attributable to Parent | $ 1,747,106 | $ 0 | $ 1,754,379 | $ (7,273) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,747,106 | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 0 | $ 0 |
Basis Of Presentation And Organ
Basis Of Presentation And Organization | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION AND ORGANIZATION The accompanying condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, the "Company") and in the opinion of management include all normal recurring material adjustments necessary to present fairly the Company's financial position as of September 30, 2019 , December 31, 2018 and September 30, 2018 , and the results of operations for the three and nine months ended September 30, 2019 and 2018 , and cash flows for the nine months ended September 30, 2019 and 2018 . The December 31, 2018 financial information was derived from the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 . A significant part of the Company's business is of a seasonal nature; therefore, results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of results to be expected for other quarterly periods or for the full year. In accordance with the Disclosure Modernization and Simplification final rule issued by the Securities and Exchange Commission ("SEC") and effective for the Company beginning in the first quarter of 2019, a reconciliation of the changes of shareholders' equity is presented for all periods for which the results of operations are presented. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to the rules and regulations of the SEC. The Company, however, believes that the disclosures contained in this report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934 for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 . Principles of Consolidation The condensed consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Estimates and Assumptions The preparation of financial statements in conformity with 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, provisions for potential excess, slow-moving and closeout inventories, product warranty, long-lived and intangible assets, goodwill, income taxes, and stock-based compensation. |
Basis Of Presentation And Org_2
Basis Of Presentation And Organization Principles of consolidation (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION AND ORGANIZATION The accompanying condensed consolidated financial statements have been prepared by the management of Columbia Sportswear Company (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, the "Company") and in the opinion of management include all normal recurring material adjustments necessary to present fairly the Company's financial position as of September 30, 2019 , December 31, 2018 and September 30, 2018 , and the results of operations for the three and nine months ended September 30, 2019 and 2018 , and cash flows for the nine months ended September 30, 2019 and 2018 . The December 31, 2018 financial information was derived from the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 . A significant part of the Company's business is of a seasonal nature; therefore, results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of results to be expected for other quarterly periods or for the full year. In accordance with the Disclosure Modernization and Simplification final rule issued by the Securities and Exchange Commission ("SEC") and effective for the Company beginning in the first quarter of 2019, a reconciliation of the changes of shareholders' equity is presented for all periods for which the results of operations are presented. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to the rules and regulations of the SEC. The Company, however, believes that the disclosures contained in this report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934 for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 . Principles of Consolidation The condensed consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Estimates and Assumptions The preparation of financial statements in conformity with 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, provisions for potential excess, slow-moving and closeout inventories, product warranty, long-lived and intangible assets, goodwill, income taxes, and stock-based compensation. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Recent Accounting Pronouncements Not Yet Adopted In August 2018, the Financial Accounting Standards Board ("FASB") issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), which clarifies certain aspects of accounting for implementation costs incurred in a cloud computing arrangement ("CCA") that is a service contract. Under the ASU, an entity would expense costs incurred in the preliminary-project and post-implementation-operation stages. The entity would also capitalize certain costs incurred during the application-development stage, as well as certain costs related to enhancements. The ASU does not change the accounting for the service component of a CCA. This standard is effective beginning in the first quarter of 2020, with early adoption permitted. The Company is planning to adopt the standard using the prospective method and is currently evaluating the impact this accounting standard will have on the Company's financial position, results of operations or cash flows. 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 2020, with early adoption permitted. The impact of the new standard will depend on the specific facts and circumstances of future individual goodwill impairments, if any. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Subsequently, the FASB has issued amendments to clarify the codification, in addition to also clarifying the implementation dates and the items that fall within the scope of this pronouncement. 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. |
Revenues
Revenues | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | REVENUES Disaggregated Revenue As disclosed below in Note 14, the Company has aggregated its operating segments into four geographic segments: the United States, Latin America and Asia Pacific ("LAAP"), Europe, Middle East and Africa ("EMEA"), and Canada. The following tables disaggregate the Company's operating segment Net sales by product category and sales channel, which the Company believes provide a meaningful depiction of how the nature, timing, and uncertainty of Net sales are affected by economic factors: Three Months Ended September 30, 2019 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 459,633 $ 93,486 $ 66,058 $ 65,532 $ 684,709 Footwear 121,630 29,760 38,345 32,349 222,084 Total $ 581,263 $ 123,246 $ 104,403 $ 97,881 $ 906,793 Sales channel net sales Wholesale $ 396,275 $ 77,934 $ 91,329 $ 86,993 $ 652,531 Direct-to-consumer 184,988 45,312 13,074 10,888 254,262 Total $ 581,263 $ 123,246 $ 104,403 $ 97,881 $ 906,793 Three Months Ended September 30, 2018 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 406,474 $ 92,869 $ 63,950 $ 54,294 $ 617,587 Footwear 89,687 25,510 36,401 26,616 178,214 Total $ 496,161 $ 118,379 $ 100,351 $ 80,910 $ 795,801 Sales channel net sales Wholesale $ 320,102 $ 72,121 $ 87,434 $ 70,099 $ 549,756 Direct-to-consumer 176,059 46,258 12,917 10,811 246,045 Total $ 496,161 $ 118,379 $ 100,351 $ 80,910 $ 795,801 Nine months ended September 30, 2019 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 1,081,942 $ 267,919 $ 183,168 $ 109,909 $ 1,642,938 Footwear 227,072 89,800 84,110 43,691 444,673 Total $ 1,309,014 $ 357,719 $ 267,278 $ 153,600 $ 2,087,611 Sales channel net sales Wholesale $ 756,558 $ 200,083 $ 231,219 $ 124,119 $ 1,311,979 Direct-to-consumer 552,456 157,636 36,059 29,481 775,632 Total $ 1,309,014 $ 357,719 $ 267,278 $ 153,600 $ 2,087,611 Nine Months Ended September 30, 2018 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 970,194 $ 263,849 $ 168,306 $ 99,854 $ 1,502,203 Footwear 168,981 86,983 88,806 37,755 382,525 Total $ 1,139,175 $ 350,832 $ 257,112 $ 137,609 $ 1,884,728 Sales channel net sales Wholesale $ 636,108 $ 192,967 $ 223,018 $ 109,324 $ 1,161,417 Direct-to-consumer 503,067 157,865 34,094 28,285 723,311 Total $ 1,139,175 $ 350,832 $ 257,112 $ 137,609 $ 1,884,728 During the fourth quarter of 2018, the Company determined that it had understated wholesale and overstated direct-to-consumer ("DTC") net sales by $5.0 million and $11.5 million in the LAAP segment for the three and nine months ended September 30, 2018 , respectively, with no effect on LAAP segment total net sales. The Company assessed the significance of the misclassifications and concluded that they were not material to any prior periods. As a result, the LAAP segment wholesale and DTC net sales for the three and nine months ended September 30, 2018 in the table above have been revised from amounts previously reported to correct the misclassifications. These corrections had no effect on the Company's Condensed Consolidated Statements of Operations. Performance Obligations For the three and nine months ended September 30, 2019 and 2018 , Net sales recognized from performance obligations related to prior periods was not material. Net sales expected to be recognized in any future period related to remaining performance obligations are not material. Contract Balances As of September 30, 2019 , December 31, 2018 and September 30, 2018 , contract liabilities recorded as Accrued liabilities on the Condensed Consolidated Balance Sheets, which consisted of obligations associated with our gift card and customer loyalty programs, were not material. |
Non-Controlling Interest
Non-Controlling Interest | 9 Months Ended |
Sep. 30, 2019 | |
Noncontrolling Interest [Abstract] | |
Non-controlling Interest | NON-CONTROLLING INTEREST Prior to January 2, 2019, the Company owned a 60% controlling interest in a joint venture formed with Swire Resources Limited ("Swire") to support the development and operation of the Company's business in China. The accounts of the joint venture were included in the condensed consolidated financial statements. Swire's share of net income from the joint venture was included in Net income attributable to non-controlling interest in the Condensed Consolidated Statements of Operations and the non-controlling equity interest in this entity was included in total equity as Non-controlling interest in the Condensed Consolidated Balance Sheets. In September 2018, the Company and Swire entered into an Equity Interest Transfer Agreement ("EITA"), under which the Company committed to buy out the 40% |
Intangible Assets, Net and Good
Intangible Assets, Net and Goodwill | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net and Goodwill | INTANGIBLE ASSETS, NET The following table summarizes the Company's identifiable Intangible assets, net balance: (in thousands) September 30, December 31, September 30, Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 $ 14,198 Customer relationships 23,000 23,000 23,000 Gross carrying amount 37,198 37,198 37,198 Accumulated amortization: Patents and purchased technology (12,979 ) (11,981 ) (11,649 ) Customer relationships (15,300 ) (14,063 ) (13,650 ) Total accumulated amortization (28,279 ) (26,044 ) (25,299 ) Net carrying amount 8,919 11,154 11,899 Intangible assets not subject to amortization 115,421 115,421 115,421 Intangible assets, net $ 124,340 $ 126,575 $ 127,320 Amortization expense for intangible assets subject to amortization was $0.7 million for each of the three months ended September 30, 2019 and 2018 and was $2.2 million for each of the nine months ended September 30, 2019 and 2018 . Annual amortization expense is estimated to be as follows for the years 2019 through 2023: (in thousands) 2019 $ 2,980 2020 2,537 2021 1,650 2022 1,650 2023 1,650 |
Product Warranty
Product Warranty | 9 Months Ended |
Sep. 30, 2019 | |
Product Warranties Disclosures [Abstract] | |
Product Warranty | PRODUCT WARRANTY Some of the Company's products carry assurance-type 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, replacements and refunds and is recorded in Cost of sales in the Condensed Consolidated Statements of Operations. The warranty reserve is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. A reconciliation of product warranties is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Balance at beginning of period $ 13,186 $ 11,857 $ 13,186 $ 12,339 Provision for warranty claims 645 555 3,140 2,997 Warranty claims (440 ) (378 ) (2,899 ) (3,088 ) Other (180 ) 50 (216 ) (164 ) Balance at end of period $ 13,211 $ 12,084 $ 13,211 $ 12,084 |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Inventory Purchase Obligations Inventory purchase obligations consist of open production purchase orders and other commitments for raw materials and sourced apparel, footwear, accessories, and equipment. At September 30, 2019 , inventory purchase obligations were $356.5 million . Litigation The Company is a party to various legal claims, actions and complaints from time to time. Although the ultimate resolution of legal proceedings cannot be predicted with certainty, management believes that disposition of these matters will not have a material adverse effect on the Company's condensed consolidated financial statements. |
Shareholders' Equity (Notes)
Shareholders' Equity (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10—SHAREHOLDERS' EQUITY Shares of the Company's common stock may be repurchased 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. Shares repurchased generally settle subsequent to their trade date. During the three and nine months ended September 30, 2019 , the Company repurchased an aggregate of $15.8 million and $116.2 million , respectively, of common stock under the stock repurchase plan authorized by the Company's Board of Directors. During the three and nine months ended September 30, 2018 , the Company repurchased an aggregate of $67.1 million and $107.2 million |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Stock-Based Compensation | NOTE 11—STOCK-BASED COMPENSATION The Company's stock incentive 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. See Note 16 in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 for additional information concerning its stock-based compensation. Stock-based compensation expense consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Stock options $ 1,509 $ 1,277 $ 4,600 $ 3,571 Restricted stock units 2,869 2,371 8,559 6,676 Total $ 4,378 $ 3,648 $ 13,159 $ 10,247 Stock Options During the nine months ended September 30, 2019 , the Company granted a total of 394,730 stock options at a weighted average grant date fair value of $22.53 . At September 30, 2019 , unrecognized costs related to outstanding stock options totaled $11.6 million , before any related tax benefit. The unrecognized costs related to stock options are amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at September 30, 2019 are expected to be recognized over a weighted average period of 2.39 years . Restricted Stock Units During the nine months ended September 30, 2019 , the Company granted 169,134 restricted stock units at an estimated average grant date fair value of $95.47 . At September 30, 2019 , unrecognized costs related to outstanding restricted stock units totaled $21.8 million , before any related tax benefit. The unrecognized costs related to restricted stock units are being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at September 30, 2019 are expected to be recognized over a weighted average period of 2.30 years . |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2019 | |
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. A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Weighted average shares of common stock outstanding, used in computing basic earnings per share 67,593 69,589 67,935 69,895 Effect of dilutive stock options and restricted stock units 587 768 685 790 Weighted average shares of common stock outstanding, used in computing diluted earnings per share 68,180 70,357 68,620 70,685 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.76 $ 1.44 $ 3.19 $ 2.22 Diluted $ 1.75 $ 1.42 $ 3.15 $ 2.19 Stock options, service-based restricted stock units, and performance-based restricted stock representing 440,993 and 240,357 shares of common stock for the three months ended September 30, 2019 and 2018 , respectively, and 378,617 and 349,381 shares of common stock for the nine months ended September 30, 2019 and 2018 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | NOTE 13—ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss , net of applicable taxes, reported on the Company's Condensed Consolidated Balance Sheets consists of unrealized holding gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments. The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2019 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2019 $ (4 ) $ 11,317 $ (12,611 ) $ (1,298 ) Other comprehensive income (loss) before reclassifications — 6,315 (8,389 ) (2,074 ) Amounts reclassified from accumulated other comprehensive loss — (3,901 ) — (3,901 ) Net other comprehensive income (loss) income during the period — 2,414 (8,389 ) (5,975 ) Balance at September 30, 2019 $ (4 ) $ 13,731 $ (21,000 ) $ (7,273 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2018 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2018 $ — $ 3,889 $ (10,263 ) $ (6,374 ) Other comprehensive income (loss) before reclassifications (162 ) 541 (51 ) 328 Amounts reclassified from accumulated other comprehensive loss — 1,811 — 1,811 Net other comprehensive income (loss) during the period (162 ) 2,352 (51 ) 2,139 Balance at September 30, 2018 $ (162 ) $ 6,241 $ (10,314 ) $ (4,235 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2019 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2018 $ (60 ) $ 11,964 $ (15,967 ) $ (4,063 ) Other comprehensive income (loss) before reclassifications 56 9,119 (5,033 ) 4,142 Amounts reclassified from accumulated other comprehensive loss — (7,253 ) — (7,253 ) Net other comprehensive income (loss) during the period 56 1,866 (5,033 ) (3,111 ) Purchase of non-controlling interest — (99 ) — (99 ) Balance at September 30, 2019 $ (4 ) $ 13,731 $ (21,000 ) $ (7,273 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2018 : Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2017 $ (4 ) $ (10,716 ) $ 1,833 $ (8,887 ) Other comprehensive income (loss) before reclassifications (158 ) 16,088 (12,147 ) 3,783 Amounts reclassified from accumulated other comprehensive loss — 1,384 — 1,384 Net other comprehensive income (loss) during the period (158 ) 17,472 (12,147 ) 5,167 Adoption of ASU 2017-12 — (515 ) — (515 ) Balance at September 30, 2018 $ (162 ) $ 6,241 $ (10,314 ) $ (4,235 ) |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company has aggregated its operating segments into four reportable geographic segments: the United States, LAAP, EMEA, and 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 and Income from operations in the Condensed Consolidated Statements of Operations are summarized in the following table for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Net sales to unrelated entities: United States $ 581,263 $ 496,161 $ 1,309,014 $ 1,139,175 LAAP 123,246 118,379 357,719 350,832 EMEA 104,403 100,351 267,278 257,112 Canada 97,881 80,910 153,600 137,609 $ 906,793 $ 795,801 $ 2,087,611 $ 1,884,728 Segment income from operations: United States $ 156,190 $ 125,862 $ 298,366 $ 243,332 LAAP 17,081 17,183 53,822 51,548 EMEA 18,162 14,782 36,905 26,328 Canada 27,024 17,944 30,417 21,236 Total segment income from operations 218,457 175,771 419,510 342,444 Unallocated corporate expenses (66,442 ) (46,627 ) (163,172 ) (144,230 ) Interest income, net 1,399 2,524 7,370 7,748 Other non-operating income (expense) (563 ) 736 915 372 Income before income taxes $ 152,851 $ 132,404 $ 264,623 $ 206,334 During the fourth quarter of 2018, the Company revised its methodology for allocating certain expenses to its reportable segments to better reflect how management reviews financial information and makes operating decisions. As a result, prior year balances for segment income from operations for each reportable segment, and unallocated corporate expenses in the table above have been reclassified to conform with the current year's presentation. In addition, during the fourth quarter of 2018, the Company determined that it had incorrectly allocated certain amounts of operating income to its United States segment, resulting in the overstatement of both total segment income from operations and unallocated corporate expenses by $4.5 million and $10.8 million for the three and nine months ended September 30, 2018 , respectively. The Company assessed the significance of the misclassifications and concluded that they were not material to any prior periods. As a result, the United States and total segment income from operations as well as unallocated corporate expenses for the three and nine months ended September 30, 2018 in the table above have been revised from amounts previously reported to correct the misclassifications. These corrections had no effect on the Company's Condensed Consolidated Statements of Operations. Concentrations No single customer that accounted for 10% or more of Accounts receivable, net of allowance on the Condensed Consolidated Balance Sheets as of September 30, 2019 or 2018 . The Company had one customer that accounted for 11.6% of Accounts receivable, net of allowance as of December 31, 2018 . No single customer accounted for 10% or more of Net sales in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019 or 2018 |
Financial Instruments And Risk
Financial Instruments And Risk Management | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Financial Instruments And Risk Management | NOTE 15—FINANCIAL INSTRUMENTS AND RISK MANAGEMENT In the normal course of business, the Company's financial position, results of operations and cash flows are routinely subject to a variety of risks. These risks include risks associated with financial markets, primarily currency exchange rate risk and, to a lesser extent, interest rate risk and equity market risk. The Company regularly assesses these risks and has established policies and business practices designed to mitigate them. The Company does not engage in speculative trading in any financial market. The Company actively manages the risk of changes in functional currency equivalent cash flows resulting from anticipated non-functional currency denominated purchases and sales. Subsidiaries that use European euros, Canadian dollars, Japanese yen, Chinese renminbi, or Korean won as their functional currency are primarily exposed to changes in functional currency equivalent cash flows from anticipated U.S. dollar inventory purchases. Subsidiaries that use U.S. dollars and euros as their functional currency also have non-functional currency denominated sales for which the Company hedges the Canadian dollar and Great British pound. 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, prior to June 2019, the time value components ("forward points") were excluded from the determination of hedge effectiveness and included in current period Cost of sales for hedges of anticipated U.S. dollar inventory purchases and in Net sales for hedges of anticipated non-functional currency denominated sales on a straight-line basis over the life of the contract. Effective June 2019, the forward points are now included in the fair value of the cash flow hedge on a prospective basis. These costs or benefits will be included in Accumulated other comprehensive income until the underlying hedge transaction is recognized in either Net sales or Cost of sales , at which time, the forward points will also be recognized as a component of Net income . Hedge ineffectiveness was not material during the three and nine months ended September 30, 2019 and 2018 . The Company also uses currency forward contracts not formally designated as hedges to manage the consolidated currency exchange rate risk associated with the remeasurement of non-functional currency denominated monetary assets and liabilities by subsidiaries that use U.S. dollars, euros, Canadian dollars, yen, won, or renminbi as their functional currency. Non-functional currency denominated monetary assets and liabilities consist primarily of cash and cash equivalents, short-term investments, receivables, payables, deferred income taxes, and intercompany loans. The gains and losses generated on these currency forward contracts not formally designated as hedges are expected to be largely offset in Other non-operating income (expense), net by the gains and losses generated from the remeasurement of the non-functional currency denominated monetary assets and liabilities. The following table presents the gross notional amount of outstanding derivative instruments: (in thousands) September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Currency forward contracts $ 412,041 $ 399,348 $ 434,738 Derivative instruments not designated as cash flow hedges: Currency forward contracts 235,945 379,701 289,772 At September 30, 2019 , $11.9 million of deferred net gains on both outstanding and matured derivatives recorded in Other comprehensive income are expected to be reclassified to Net income during the next twelve months as a result of underlying hedged transactions also being recorded in Net sales or Cost of sales in the Condensed Consolidated Statements of Operations. Actual amounts ultimately reclassified to Net sales or Cost of sales in the Condensed Consolidated Statements of Comprehensive Income are dependent on U.S. dollar exchange rates in effect against the euro, renminbi, Canadian dollar, and yen when outstanding derivative contracts mature. At September 30, 2019 , the Company's derivative contracts had a remaining maturity of less than four 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 $7.0 million at September 30, 2019 . All of the Company's derivative counterparties have credit ratings that are investment grade or higher. 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 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. The Company has not pledged assets or posted collateral as a requirement for entering into or maintaining derivative positions. The following table presents the balance sheet classification and fair value of derivative instruments: (in thousands) Balance Sheet Classification September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 16,603 $ 11,818 $ 7,262 Currency forward contracts Other non-current assets 4,830 9,922 7,963 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 201 47 584 Currency forward contracts Other long-term liabilities 109 1 — Derivative instruments not designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 1,857 1,797 865 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 320 970 154 The following table presents the statement of operations effect and classification of derivative instruments: Statement of Operations Classification Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Currency Forward and Option Contracts: Derivative instruments designated as cash flow hedges: Gain recognized in other comprehensive income (loss), net of tax — $ 6,315 $ 866 $ 9,119 $ 16,493 Gain reclassified from accumulated other comprehensive loss to income for the effective portion Net sales 172 17 282 41 Gain (loss) reclassified from accumulated other comprehensive loss to income for the effective portion Cost of sales 5,087 (4,192 ) 7,208 (7,796 ) Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales — 4 (31 ) 16 Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales — 1,637 2,380 5,458 Derivative instruments not designated as cash flow hedges: Gain recognized in income Other non-operating income (expense), net 1,855 372 1,281 2,606 |
Fair Value Measures
Fair Value Measures | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measures | NOTE 16—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 September 30, 2019 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 72,941 $ — $ — $ 72,941 Other short-term investments: Mutual fund shares 1,477 — — 1,477 Other current assets: Derivative financial instruments (Note 15) — 18,460 — 18,460 Other non-current assets: Money market funds 1,528 — — 1,528 Mutual fund shares 11,362 — — 11,362 Derivative financial instruments (Note 15) — 4,830 — 4,830 Total assets measured at fair value $ 87,308 $ 23,290 $ — $ 110,598 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 521 $ — $ 521 Other long-term liabilities: Derivative financial instruments (Note 15) — 109 — 109 Total liabilities measured at fair value $ — $ 630 $ — $ 630 (1) Investments have remaining maturities of less than one year. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 122,237 $ — $ — $ 122,237 U.S. Government treasury bills — 39,952 — 39,952 Available-for-sale short-term investments (1) U.S. Government treasury bills — 261,602 — 261,602 Other short-term investments: Mutual fund shares 1,200 — — 1,200 Other current assets: Derivative financial instruments (Note 15) — 13,615 — 13,615 Other non-current assets: Money market funds 869 — — 869 Mutual fund shares 8,606 — — 8,606 Derivative financial instruments (Note 15) — 9,922 — 9,922 Total assets measured at fair value $ 132,912 $ 325,091 $ — $ 458,003 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 1,017 $ — $ 1,017 Other long-term liabilities: Derivative financial instruments (Note 15) — 1 — 1 Total liabilities measured at fair value $ — $ 1,018 $ — $ 1,018 (1) Investments have remaining maturities of less than one year. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 70,573 $ — $ — $ 70,573 Available-for-sale short-term investments (1) : U.S. Government treasury bills — 267,861 — 267,861 Other short-term investments: Mutual funds shares 1,452 — — 1,452 Other current assets: Derivative financial instruments (Note 15) — 8,127 — 8,127 Other non-current assets: Mutual fund shares 9,950 — — 9,950 Derivative financial instruments (Note 15) — 7,963 — 7,963 Total assets measured at fair value $ 81,975 $ 283,951 $ — $ 365,926 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 738 $ — $ 738 Total liabilities measured at fair value $ — $ 738 $ — $ 738 (1) Investments have remaining maturities of less than one year. Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, which are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions. Non-recurring Fair Value Measurements There were no material assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2019 , December 31, 2018 or September 30, 2018 . |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 17—RELATED PARTY TRANSACTIONS As described in Note 4, prior to January 2, 2019, the Company owned a 60% controlling interest in a joint venture formed with Swire, which was a related party. The joint venture arrangement involved Transition Services Agreements ("TSAs") with Swire, under which Swire provided administrative and information technology services to the joint venture. The fees incurred for these services by the joint venture were immaterial during the three and nine months ended September 30, 2018 . In addition, the joint venture paid Swire sourcing fees related to the purchase of certain inventory. These sourcing fees were capitalized into Inventories and charged to Cost of sales as the inventories were sold. In addition to the transactions described above, Swire is also a third-party distributor of the Company's brands in certain regions outside of mainland China and purchases products from the Company under the Company's third-party distributor terms and pricing. The China joint venture declared a cash dividend of RMB 341.3 million (approximately US$ 53.3 million ) in June 2018 to stockholders of record as of June 14, 2018 and paid the dividend in the third quarter of 2018. The dividend paid to Swire was RMB 136.5 million (approximately US $21.3 million at the date of declaration, which equated to approximately US $20.0 million on the date of payment). The dividend paid to the Company of $ 32.0 million was eliminated in consolidation. In addition, in September 2018, the Company and Swire entered into an EITA, under which the Company committed to buy out the 40% non-controlling interest in the joint venture. The buyout was subject to various terms and conditions. As part of the buyout arrangement, in September 2018 the Company placed $14.0 million in an escrow account as a portion of the funds needed to complete the buyout in early 2019. The escrow amount was shown as Restricted cash on the Condensed Consolidated Balance Sheets at December 31, 2018 and September 30, 2018 . On January 2, 2019, the buyout transaction closed, and Swire was no longer considered to be a related party. Pursuant to the terms of the buyout arrangement, the escrow balance of $14.0 million was paid to Swire. In April 2019, the Company remitted a final payment of $3.9 million |
Short Term Borrowings and Credi
Short Term Borrowings and Credit Lines (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Short-term Debt [Text Block] | NOTE 6—SHORT-TERM BORROWINGS AND CREDIT LINES The Company had an unsecured, committed revolving line of credit agreement, maturing on July 1, 2021 , with monthly variable commitments available for funding that, as of March 31, 2019, averaged $100.0 million over the course of a calendar year. At December 31, 2018 and September 30, 2018, the Company was in compliance with all associated covenants, and there was no balance outstanding under this line of credit. In April 2019, the Company amended and restated its unsecured, committed revolving line of credit agreement to reduce the monthly variable commitments available for funding to an average of $50.0 million over the course of a calendar year. The maturity date of this amended and restated agreement is August 1, 2023 . Interest, payable monthly, continues to be 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. The amended and restated agreement requires the Company to comply with certain financial covenants covering the Company's funded debt ratio and interest coverage ratio, and eliminates the previous requirements that covered net income, fixed coverage ratio and borrowing basis. If the Company is in default, it is prohibited from paying dividends or repurchasing common stock. At September 30, 2019, the Company was in compliance with all associated covenants, and there was no balance outstanding under this line of credit. The Company's European subsidiary has available two separate unsecured and uncommitted lines of credit guaranteed by the Company providing for borrowing up to a maximum of €25.8 million and €5.0 million , respectively (combined approximately US $33.7 million ), at September 30, 2019. The line of credit with a maximum borrowing of €5.0 million accrues interest based on the Euro Overnight Index Average plus 75 basis points. During the first quarter of 2019, the interest rate on the line of credit with a maximum borrowing of €25.8 million was modified to accrue interest based on the European Central Bank refinancing rate plus 75.0 basis points. There was no balance outstanding under either of these lines of credit at September 30, 2019, December 31, 2018 and September 30, 2018. |
Income Taxes (Notes)
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Contingency [Line Items] | |
Income Tax Disclosure [Text Block] | NOTE 18—INCOME TAXES For the three months ended September 30, 2019 and 2018 , the effective income tax rates were 22.0% and 22.7% , respectively. For the nine months ended September 30, 2019 and 2018 , the effective income tax rates were 18.2% and 21.7% , respectively. The effective income tax rate for the nine months ended September 30, 2019 was impacted by discrete items, primarily the passage of a Swiss tax reform package in May 2019, which resulted in a $6.6 million second-quarter tax benefit related to the revaluation of the Company’s Swiss deferred tax assets at a higher rate. |
Basis Of Presentation And Org_3
Basis Of Presentation And Organization Estimates and Assumptions (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Text Block [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Estimates and Assumptions The preparation of financial statements in conformity with 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates and assumptions. Some of these more significant estimates relate to revenue recognition, including sales returns and claims from customers, allowance for doubtful accounts, provisions for potential excess, slow-moving and closeout inventories, product warranty, long-lived and intangible assets, goodwill, income taxes, and stock-based compensation. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies pronouncement description (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Text Block [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The adoption of this provision did not have a material effect on the Company's financial position, results of operations or cash flows. On January 1, 2019, the Company adopted ASU No. 2016-02, Leases ("ASC 842") , which increased transparency and comparability among organizations by recognizing right-of-use ("ROU") assets and lease liabilities on the balance sheet for most leases previously classified as operating leases. The updated guidance and subsequent clarifications require disclosures to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The Company adopted this standard utilizing the modified retrospective approach. The comparative prior period information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company has elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company did not elect the practical expedient to use hindsight for leases existing at adoption date. The adoption of ASC 842 resulted in the recognition of ROU assets of $352.7 million, with corresponding lease liabilities of $387.1 million. As a result of adopting the standard, $34.4 million of pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the ROU assets. At adoption, the measurement of the lease liabilities utilized the remaining minimum rental payments as defined under the previous accounting standard and the incremental borrowing rate as of January 1, 2019. The adoption of ASC 842 did not materially impact the Condensed Consolidated Statements of Operations. Also, the adoption of ASC 842 had no material impact on operating, investing or financing cash flows in the Condensed Consolidated Statements of Cash Flows. See Note 8 for additional disclosure regarding the adoption of the new standard. |
Leases Leases (Policies)
Leases Leases (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | 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 and others include rental payments adjusted periodically depending on an index or rate. 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, and other costs, collectively referred to as operating costs, in addition to base rent. Certain lease agreements also contain lease incentives, such as tenant improvement allowances and rent holidays. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more. The exercise of lease renewal options is generally at the Company's sole discretion. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a ROU asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the unpaid lease payments at the lease commencement date. Key estimates and judgments include how the Company determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) the lease term and (3) lease payments. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the interest rate implicit in the lease because it does not have access to the lessor's estimated residual value or the amount of the lessor's deferred initial direct costs. Therefore, the Company generally uses its incremental borrowing rate as the discount rate for the lease. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because the Company does not generally borrow on a collateralized basis, it uses quoted interest rates obtained from financial institutions as an input to derive an appropriate incremental borrowing rate, adjusted for the amount of the lease payments, the lease term and the effect on that rate of designating specific collateral with a value equal to the unpaid lease payments for that lease. The Company's lease contracts may include options to extend the lease following the initial term or terminate the lease prior to the end of the initial term. In most instances, at the commencement of the leases, the Company has determined that it is not reasonably certain to exercise either of these options; accordingly, these options are generally not considered in determining the initial lease term. At the renewal of an expiring lease, the Company reassesses options in the contract that it is reasonably certain to exercise in its measurement of lease term. For lease agreements entered into or reassessed after the adoption of ASC 842, the Company has elected the practical expedient to account for the lease and non-lease components as a single lease component. Therefore, for those leases, the lease payments used to measure the lease liability include all of the fixed consideration in the contract. Variable lease payments associated with the Company's leases are recognized upon occurrence of the event, activity, or circumstance in the lease agreement on which those payments are assessed. Variable lease payments are presented in the Company's Condensed Consolidated Statements of Operations in the same line item as expense arising from fixed lease payments. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The components of lease cost for the three and nine months ended September 30, 2019 were as follows: (in thousands) Three Months Ended Nine Months Ended Operating lease cost $ 20,072 $ 57,592 Variable lease cost 12,676 38,572 Short term lease cost 3,442 5,614 $ 36,190 $ 101,778 Supplemental cash flow information related to leases for the nine months ended September 30, 2019 is as follows: (in thousands) Cash paid for amounts included in the measurement of operating lease liabilities $ 56,843 Operating lease liabilities arising from obtaining ROU assets (1) $ 467,075 (1) Includes amount initially capitalized in conjunction with the adoption of ASC 842. Amounts disclosed for lease liabilities arising from obtaining ROU assets include amounts added to the carrying amount of lease liabilities resulting from lease modifications and reassessments. Supplemental balance sheet information related to leases as of September 30, 2019 is as follows: Weighted average remaining lease term 6.99 years Weighted average discount rate 3.89 % As of September 30, 2019, future maturities of lease liabilities are as follows: (in thousands) 2019 $ 20,119 2020 76,258 2021 68,625 2022 63,532 2023 58,579 Thereafter 212,496 Total lease payments 499,609 Less: imputed interest (70,338 ) Total lease liabilities 429,271 Less: current obligations (62,756 ) Long-term lease obligations $ 366,515 As of September 30, 2019 , the Company has additional operating lease commitments that have not yet commenced of $13.6 million . These leases will commence in 2019 and 2020 with lease terms of 1 to 11 years. Disclosures related to periods prior to adoption of ASC 842 Information on rent expense for the three and nine months ended September 30, 2018 was as follows: (in thousands) Three Months Ended Nine Months Ended Rent expense included in SG&A expense $ 32,058 $ 96,370 Rent expense included in Cost of sales 448 1,257 $ 32,506 $ 97,627 Future minimum payments determined under the previous accounting standards for all lease obligations, including rent escalation clauses and committed leases that had not yet commenced, at December 31, 2018 , were as follows: (in thousands) 2019 $ 72,280 2020 65,379 2021 57,460 2022 52,607 2023 47,837 Thereafter 155,897 $ 451,460 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Recent Accounting Pronouncements Not Yet Adopted In August 2018, the Financial Accounting Standards Board ("FASB") issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), which clarifies certain aspects of accounting for implementation costs incurred in a cloud computing arrangement ("CCA") that is a service contract. Under the ASU, an entity would expense costs incurred in the preliminary-project and post-implementation-operation stages. The entity would also capitalize certain costs incurred during the application-development stage, as well as certain costs related to enhancements. The ASU does not change the accounting for the service component of a CCA. This standard is effective beginning in the first quarter of 2020, with early adoption permitted. The Company is planning to adopt the standard using the prospective method and is currently evaluating the impact this accounting standard will have on the Company's financial position, results of operations or cash flows. 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 2020, with early adoption permitted. The impact of the new standard will depend on the specific facts and circumstances of future individual goodwill impairments, if any. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Subsequently, the FASB has issued amendments to clarify the codification, in addition to also clarifying the implementation dates and the items that fall within the scope of this pronouncement. 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. |
Schedule of New Accounting Pronouncements | The following table presents the effect of the adoption of ASC 842 on our Condensed Consolidated Balance Sheets as of January 1, 2019: January 1, 2019 (in thousands) December 31, 2018 Adjustments due to ASC 842 January 1, 2019 Operating lease right-of-use assets $ — $ 352,679 $ 352,679 Total assets 2,368,721 352,679 2,721,400 Accrued liabilities 275,684 (3,346 ) 272,338 Operating lease liabilities — 57,207 57,207 Current liabilities 572,882 53,861 626,743 Non-current operating lease liabilities — 329,865 329,865 Other long-term liabilities 45,214 (31,047 ) 14,167 Total liabilities 678,408 352,679 1,031,087 Total liabilities and equity 2,368,721 352,679 2,721,400 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The adoption of this provision did not have a material effect on the Company's financial position, results of operations or cash flows. On January 1, 2019, the Company adopted ASU No. 2016-02, Leases ("ASC 842") , which increased transparency and comparability among organizations by recognizing right-of-use ("ROU") assets and lease liabilities on the balance sheet for most leases previously classified as operating leases. The updated guidance and subsequent clarifications require disclosures to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The Company adopted this standard utilizing the modified retrospective approach. The comparative prior period information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company has elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company did not elect the practical expedient to use hindsight for leases existing at adoption date. The adoption of ASC 842 resulted in the recognition of ROU assets of $352.7 million, with corresponding lease liabilities of $387.1 million. As a result of adopting the standard, $34.4 million of pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the ROU assets. At adoption, the measurement of the lease liabilities utilized the remaining minimum rental payments as defined under the previous accounting standard and the incremental borrowing rate as of January 1, 2019. The adoption of ASC 842 did not materially impact the Condensed Consolidated Statements of Operations. Also, the adoption of ASC 842 had no material impact on operating, investing or financing cash flows in the Condensed Consolidated Statements of Cash Flows. See Note 8 for additional disclosure regarding the adoption of the new standard. |
Revenues (Tables)
Revenues (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue | The following tables disaggregate the Company's operating segment Net sales by product category and sales channel, which the Company believes provide a meaningful depiction of how the nature, timing, and uncertainty of Net sales are affected by economic factors: Three Months Ended September 30, 2019 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 459,633 $ 93,486 $ 66,058 $ 65,532 $ 684,709 Footwear 121,630 29,760 38,345 32,349 222,084 Total $ 581,263 $ 123,246 $ 104,403 $ 97,881 $ 906,793 Sales channel net sales Wholesale $ 396,275 $ 77,934 $ 91,329 $ 86,993 $ 652,531 Direct-to-consumer 184,988 45,312 13,074 10,888 254,262 Total $ 581,263 $ 123,246 $ 104,403 $ 97,881 $ 906,793 Three Months Ended September 30, 2018 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 406,474 $ 92,869 $ 63,950 $ 54,294 $ 617,587 Footwear 89,687 25,510 36,401 26,616 178,214 Total $ 496,161 $ 118,379 $ 100,351 $ 80,910 $ 795,801 Sales channel net sales Wholesale $ 320,102 $ 72,121 $ 87,434 $ 70,099 $ 549,756 Direct-to-consumer 176,059 46,258 12,917 10,811 246,045 Total $ 496,161 $ 118,379 $ 100,351 $ 80,910 $ 795,801 Nine months ended September 30, 2019 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 1,081,942 $ 267,919 $ 183,168 $ 109,909 $ 1,642,938 Footwear 227,072 89,800 84,110 43,691 444,673 Total $ 1,309,014 $ 357,719 $ 267,278 $ 153,600 $ 2,087,611 Sales channel net sales Wholesale $ 756,558 $ 200,083 $ 231,219 $ 124,119 $ 1,311,979 Direct-to-consumer 552,456 157,636 36,059 29,481 775,632 Total $ 1,309,014 $ 357,719 $ 267,278 $ 153,600 $ 2,087,611 Nine Months Ended September 30, 2018 (in thousands) United States LAAP EMEA Canada Total Product category net sales Apparel, Accessories and Equipment $ 970,194 $ 263,849 $ 168,306 $ 99,854 $ 1,502,203 Footwear 168,981 86,983 88,806 37,755 382,525 Total $ 1,139,175 $ 350,832 $ 257,112 $ 137,609 $ 1,884,728 Sales channel net sales Wholesale $ 636,108 $ 192,967 $ 223,018 $ 109,324 $ 1,161,417 Direct-to-consumer 503,067 157,865 34,094 28,285 723,311 Total $ 1,139,175 $ 350,832 $ 257,112 $ 137,609 $ 1,884,728 |
Intangible Assets, Net and Go_2
Intangible Assets, Net and Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary Of Identifiable Intangible Assets | The following table summarizes the Company's identifiable Intangible assets, net balance: (in thousands) September 30, December 31, September 30, Intangible assets subject to amortization: Patents and purchased technology $ 14,198 $ 14,198 $ 14,198 Customer relationships 23,000 23,000 23,000 Gross carrying amount 37,198 37,198 37,198 Accumulated amortization: Patents and purchased technology (12,979 ) (11,981 ) (11,649 ) Customer relationships (15,300 ) (14,063 ) (13,650 ) Total accumulated amortization (28,279 ) (26,044 ) (25,299 ) Net carrying amount 8,919 11,154 11,899 Intangible assets not subject to amortization 115,421 115,421 115,421 Intangible assets, net $ 124,340 $ 126,575 $ 127,320 |
Schedule of finite lived intangible assets future amortization expense | Annual amortization expense is estimated to be as follows for the years 2019 through 2023: (in thousands) 2019 $ 2,980 2020 2,537 2021 1,650 2022 1,650 2023 1,650 |
Product Warranty (Tables)
Product Warranty (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Product Warranties Disclosures [Abstract] | |
Reconciliation Of Product Warranties | A reconciliation of product warranties is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Balance at beginning of period $ 13,186 $ 11,857 $ 13,186 $ 12,339 Provision for warranty claims 645 555 3,140 2,997 Warranty claims (440 ) (378 ) (2,899 ) (3,088 ) Other (180 ) 50 (216 ) (164 ) Balance at end of period $ 13,211 $ 12,084 $ 13,211 $ 12,084 |
Leases (Tables)
Leases (Tables) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Leases [Abstract] | ||
Lessee, Operating Lease, Disclosure [Table Text Block] | Information on rent expense for the three and nine months ended September 30, 2018 was as follows: (in thousands) Three Months Ended Nine Months Ended Rent expense included in SG&A expense $ 32,058 $ 96,370 Rent expense included in Cost of sales 448 1,257 $ 32,506 $ 97,627 | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Future minimum payments determined under the previous accounting standards for all lease obligations, including rent escalation clauses and committed leases that had not yet commenced, at December 31, 2018 , were as follows: (in thousands) 2019 $ 72,280 2020 65,379 2021 57,460 2022 52,607 2023 47,837 Thereafter 155,897 $ 451,460 | |
Lease, Cost [Table Text Block] | The components of lease cost for the three and nine months ended September 30, 2019 were as follows: (in thousands) Three Months Ended Nine Months Ended Operating lease cost $ 20,072 $ 57,592 Variable lease cost 12,676 38,572 Short term lease cost 3,442 5,614 $ 36,190 $ 101,778 Supplemental cash flow information related to leases for the nine months ended September 30, 2019 is as follows: (in thousands) Cash paid for amounts included in the measurement of operating lease liabilities $ 56,843 Operating lease liabilities arising from obtaining ROU assets (1) $ 467,075 (1) Includes amount initially capitalized in conjunction with the adoption of ASC 842. Amounts disclosed for lease liabilities arising from obtaining ROU assets include amounts added to the carrying amount of lease liabilities resulting from lease modifications and reassessments. Supplemental balance sheet information related to leases as of September 30, 2019 is as follows: Weighted average remaining lease term 6.99 years Weighted average discount rate 3.89 % | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of September 30, 2019, future maturities of lease liabilities are as follows: (in thousands) 2019 $ 20,119 2020 76,258 2021 68,625 2022 63,532 2023 58,579 Thereafter 212,496 Total lease payments 499,609 Less: imputed interest (70,338 ) Total lease liabilities 429,271 Less: current obligations (62,756 ) Long-term lease obligations $ 366,515 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Stock-based compensation expense consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Stock options $ 1,509 $ 1,277 $ 4,600 $ 3,571 Restricted stock units 2,869 2,371 8,559 6,676 Total $ 4,378 $ 3,648 $ 13,159 $ 10,247 Stock Options During the nine months ended September 30, 2019 , the Company granted a total of 394,730 stock options at a weighted average grant date fair value of $22.53 . At September 30, 2019 , unrecognized costs related to outstanding stock options totaled $11.6 million , before any related tax benefit. The unrecognized costs related to stock options are amortized over the related vesting period using the straight-line attribution method. Unrecognized costs related to stock options at September 30, 2019 are expected to be recognized over a weighted average period of 2.39 years . Restricted Stock Units During the nine months ended September 30, 2019 , the Company granted 169,134 restricted stock units at an estimated average grant date fair value of $95.47 . At September 30, 2019 , unrecognized costs related to outstanding restricted stock units totaled $21.8 million , before any related tax benefit. The unrecognized costs related to restricted stock units are being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at September 30, 2019 are expected to be recognized over a weighted average period of 2.30 years . |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS | A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Weighted average shares of common stock outstanding, used in computing basic earnings per share 67,593 69,589 67,935 69,895 Effect of dilutive stock options and restricted stock units 587 768 685 790 Weighted average shares of common stock outstanding, used in computing diluted earnings per share 68,180 70,357 68,620 70,685 Earnings per share of common stock attributable to Columbia Sportswear Company: Basic $ 1.76 $ 1.44 $ 3.19 $ 2.22 Diluted $ 1.75 $ 1.42 $ 3.15 $ 2.19 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income, Net Of Related Tax Effects | The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2019 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2019 $ (4 ) $ 11,317 $ (12,611 ) $ (1,298 ) Other comprehensive income (loss) before reclassifications — 6,315 (8,389 ) (2,074 ) Amounts reclassified from accumulated other comprehensive loss — (3,901 ) — (3,901 ) Net other comprehensive income (loss) income during the period — 2,414 (8,389 ) (5,975 ) Balance at September 30, 2019 $ (4 ) $ 13,731 $ (21,000 ) $ (7,273 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the three months ended September 30, 2018 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at June 30, 2018 $ — $ 3,889 $ (10,263 ) $ (6,374 ) Other comprehensive income (loss) before reclassifications (162 ) 541 (51 ) 328 Amounts reclassified from accumulated other comprehensive loss — 1,811 — 1,811 Net other comprehensive income (loss) during the period (162 ) 2,352 (51 ) 2,139 Balance at September 30, 2018 $ (162 ) $ 6,241 $ (10,314 ) $ (4,235 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2019 : (in thousands) Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2018 $ (60 ) $ 11,964 $ (15,967 ) $ (4,063 ) Other comprehensive income (loss) before reclassifications 56 9,119 (5,033 ) 4,142 Amounts reclassified from accumulated other comprehensive loss — (7,253 ) — (7,253 ) Net other comprehensive income (loss) during the period 56 1,866 (5,033 ) (3,111 ) Purchase of non-controlling interest — (99 ) — (99 ) Balance at September 30, 2019 $ (4 ) $ 13,731 $ (21,000 ) $ (7,273 ) The following table sets forth the changes in accumulated other comprehensive loss attributable to Columbia Sportswear Company, net of tax, for the nine months ended September 30, 2018 : Unrealized gains (losses) on available-for-sale securities Unrealized holding gains (losses) on derivative transactions Foreign currency translation adjustments Total Balance at December 31, 2017 $ (4 ) $ (10,716 ) $ 1,833 $ (8,887 ) Other comprehensive income (loss) before reclassifications (158 ) 16,088 (12,147 ) 3,783 Amounts reclassified from accumulated other comprehensive loss — 1,384 — 1,384 Net other comprehensive income (loss) during the period (158 ) 17,472 (12,147 ) 5,167 Adoption of ASU 2017-12 — (515 ) — (515 ) Balance at September 30, 2018 $ (162 ) $ 6,241 $ (10,314 ) $ (4,235 ) |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Schedule Of Segment Information | The geographic distribution of the Company's Net sales and Income from operations in the Condensed Consolidated Statements of Operations are summarized in the following table for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Net sales to unrelated entities: United States $ 581,263 $ 496,161 $ 1,309,014 $ 1,139,175 LAAP 123,246 118,379 357,719 350,832 EMEA 104,403 100,351 267,278 257,112 Canada 97,881 80,910 153,600 137,609 $ 906,793 $ 795,801 $ 2,087,611 $ 1,884,728 Segment income from operations: United States $ 156,190 $ 125,862 $ 298,366 $ 243,332 LAAP 17,081 17,183 53,822 51,548 EMEA 18,162 14,782 36,905 26,328 Canada 27,024 17,944 30,417 21,236 Total segment income from operations 218,457 175,771 419,510 342,444 Unallocated corporate expenses (66,442 ) (46,627 ) (163,172 ) (144,230 ) Interest income, net 1,399 2,524 7,370 7,748 Other non-operating income (expense) (563 ) 736 915 372 Income before income taxes $ 152,851 $ 132,404 $ 264,623 $ 206,334 |
Financial Instruments And Ris_2
Financial Instruments And Risk Management (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Gross Notional Amount Of Outstanding Derivative Instruments | The following table presents the gross notional amount of outstanding derivative instruments: (in thousands) September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Currency forward contracts $ 412,041 $ 399,348 $ 434,738 Derivative instruments not designated as cash flow hedges: Currency forward contracts 235,945 379,701 289,772 |
Balance Sheet Classification And Fair Value Of Derivative Instruments | The following table presents the balance sheet classification and fair value of derivative instruments: (in thousands) Balance Sheet Classification September 30, December 31, September 30, Derivative instruments designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets $ 16,603 $ 11,818 $ 7,262 Currency forward contracts Other non-current assets 4,830 9,922 7,963 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 201 47 584 Currency forward contracts Other long-term liabilities 109 1 — Derivative instruments not designated as cash flow hedges: Derivative instruments in asset positions: Currency forward contracts Prepaid expenses and other current assets 1,857 1,797 865 Derivative instruments in liability positions: Currency forward contracts Accrued liabilities 320 970 154 The following table presents the statement of operations effect and classification of derivative instruments: Statement of Operations Classification Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Currency Forward and Option Contracts: Derivative instruments designated as cash flow hedges: Gain recognized in other comprehensive income (loss), net of tax — $ 6,315 $ 866 $ 9,119 $ 16,493 Gain reclassified from accumulated other comprehensive loss to income for the effective portion Net sales 172 17 282 41 Gain (loss) reclassified from accumulated other comprehensive loss to income for the effective portion Cost of sales 5,087 (4,192 ) 7,208 (7,796 ) Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion Net sales — 4 (31 ) 16 Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion Cost of sales — 1,637 2,380 5,458 Derivative instruments not designated as cash flow hedges: Gain recognized in income Other non-operating income (expense), net 1,855 372 1,281 2,606 |
Fair Value Measures (Tables)
Fair Value Measures (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets And Liabilities Measured At Fair Value On A Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 72,941 $ — $ — $ 72,941 Other short-term investments: Mutual fund shares 1,477 — — 1,477 Other current assets: Derivative financial instruments (Note 15) — 18,460 — 18,460 Other non-current assets: Money market funds 1,528 — — 1,528 Mutual fund shares 11,362 — — 11,362 Derivative financial instruments (Note 15) — 4,830 — 4,830 Total assets measured at fair value $ 87,308 $ 23,290 $ — $ 110,598 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 521 $ — $ 521 Other long-term liabilities: Derivative financial instruments (Note 15) — 109 — 109 Total liabilities measured at fair value $ — $ 630 $ — $ 630 (1) Investments have remaining maturities of less than one year. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 122,237 $ — $ — $ 122,237 U.S. Government treasury bills — 39,952 — 39,952 Available-for-sale short-term investments (1) U.S. Government treasury bills — 261,602 — 261,602 Other short-term investments: Mutual fund shares 1,200 — — 1,200 Other current assets: Derivative financial instruments (Note 15) — 13,615 — 13,615 Other non-current assets: Money market funds 869 — — 869 Mutual fund shares 8,606 — — 8,606 Derivative financial instruments (Note 15) — 9,922 — 9,922 Total assets measured at fair value $ 132,912 $ 325,091 $ — $ 458,003 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 1,017 $ — $ 1,017 Other long-term liabilities: Derivative financial instruments (Note 15) — 1 — 1 Total liabilities measured at fair value $ — $ 1,018 $ — $ 1,018 (1) Investments have remaining maturities of less than one year. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 were as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 70,573 $ — $ — $ 70,573 Available-for-sale short-term investments (1) : U.S. Government treasury bills — 267,861 — 267,861 Other short-term investments: Mutual funds shares 1,452 — — 1,452 Other current assets: Derivative financial instruments (Note 15) — 8,127 — 8,127 Other non-current assets: Mutual fund shares 9,950 — — 9,950 Derivative financial instruments (Note 15) — 7,963 — 7,963 Total assets measured at fair value $ 81,975 $ 283,951 $ — $ 365,926 Liabilities: Accrued liabilities: Derivative financial instruments (Note 15) $ — $ 738 $ — $ 738 Total liabilities measured at fair value $ — $ 738 $ — $ 738 |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies Summary of Adoption of 606 (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
Accounting Policies [Abstract] | ||||||
Accounts receivable, net | $ 646,414 | $ 552,442 | $ 646,414 | $ 552,442 | $ 449,382 | |
Inventories | 717,396 | 617,194 | 717,396 | 617,194 | 521,827 | |
Prepaid expenses and other current assets | 94,253 | 77,763 | 94,253 | 77,763 | 79,500 | |
Total current assets | 1,698,851 | 1,712,857 | 1,698,851 | 1,712,857 | 1,765,306 | |
Total assets | 2,751,080 | 2,299,339 | 2,751,080 | 2,299,339 | $ 2,721,400 | 2,368,721 |
Accrued liabilities | 279,932 | 255,682 | 279,932 | 255,682 | 272,338 | 275,684 |
Total current liabilities | 558,147 | 509,584 | 558,147 | 509,584 | 626,743 | 572,882 |
Total liabilities | 1,003,974 | 617,743 | 1,003,974 | 617,743 | 1,031,087 | 678,408 |
Total liabilities and equity | 2,751,080 | 2,299,339 | 2,751,080 | 2,299,339 | $ 2,721,400 | $ 2,368,721 |
Net sales | 906,793 | 795,801 | 2,087,611 | 1,884,728 | ||
Gross profit | 446,695 | 383,703 | 1,037,015 | 911,762 | ||
Selling, general and administrative expenses | $ 299,249 | $ 259,267 | $ 791,767 | $ 724,827 |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies Summary of Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Operating Lease, Right-of-Use Asset | $ 389,558 | $ 352,679 | $ 0 | $ 0 | |||
Prepaid expenses and other current assets | 94,253 | 79,500 | 77,763 | ||||
Operating Lease, Liability, Current | 62,756 | 57,207 | 0 | 0 | |||
Deferred income taxes | 80,193 | 78,155 | 68,913 | ||||
Total assets | 2,751,080 | 2,721,400 | 2,368,721 | 2,299,339 | |||
Accrued Liabilities, Current | 279,932 | 272,338 | 275,684 | 255,682 | |||
Operating Lease, Liability, Noncurrent | 366,515 | 329,865 | 0 | 0 | |||
Income taxes payable | 13,653 | 22,763 | 8,247 | ||||
Total current liabilities | 558,147 | 626,743 | 572,882 | 509,584 | |||
Other Liabilities, Noncurrent | 22,982 | 14,167 | 45,214 | 46,056 | |||
Total liabilities | 1,003,974 | 1,031,087 | 678,408 | 617,743 | |||
Retained earnings | 1,754,379 | 1,677,920 | 1,669,390 | ||||
Accumulated other comprehensive loss | (7,273) | $ (1,298) | (4,063) | (4,235) | $ (6,374) | $ (8,887) | |
Total liabilities and equity | $ 2,751,080 | 2,721,400 | $ 2,368,721 | $ 2,299,339 | |||
Accounting Standards Update 2014-09 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Operating Lease, Right-of-Use Asset | 352,679 | ||||||
Operating Lease, Liability, Current | 57,207 | ||||||
Total assets | 352,679 | ||||||
Accrued Liabilities, Current | (3,346) | ||||||
Operating Lease, Liability, Noncurrent | 329,865 | ||||||
Total current liabilities | 53,861 | ||||||
Other Liabilities, Noncurrent | (31,047) | ||||||
Total liabilities | 352,679 | ||||||
Total liabilities and equity | $ 352,679 |
Revenues (Details)
Revenues (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)GeographicSegments | Sep. 30, 2018USD ($) | |
Disaggregation of Revenue [Line Items] | ||||
Quantifying Misstatement in Current Year Financial Statements, Amount | $ 4,500 | $ 10,800 | ||
Number of Operating Segments | GeographicSegments | 4 | |||
Revenue | $ 906,793 | 795,801 | $ 2,087,611 | 1,884,728 |
Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 652,531 | 549,756 | 1,311,979 | 1,161,417 |
Direct-to-consumer | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 254,262 | 246,045 | 775,632 | 723,311 |
United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 581,263 | 496,161 | 1,309,014 | 1,139,175 |
United States | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 396,275 | 320,102 | 756,558 | 636,108 |
United States | Direct-to-consumer | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 184,988 | 176,059 | 552,456 | 503,067 |
LAAP | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 123,246 | 118,379 | 357,719 | 350,832 |
LAAP | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Quantifying Misstatement in Current Year Financial Statements, Amount | 5,000 | 11,500 | ||
Revenue | 77,934 | 72,121 | 200,083 | 192,967 |
LAAP | Direct-to-consumer | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 45,312 | 46,258 | 157,636 | 157,865 |
EMEA | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 104,403 | 100,351 | 267,278 | 257,112 |
EMEA | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 91,329 | 87,434 | 231,219 | 223,018 |
EMEA | Direct-to-consumer | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 13,074 | 12,917 | 36,059 | 34,094 |
Canada | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 97,881 | 80,910 | 153,600 | 137,609 |
Canada | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 86,993 | 70,099 | 124,119 | 109,324 |
Canada | Direct-to-consumer | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 10,888 | 10,811 | 29,481 | 28,285 |
Apparel, Accessories and Equipment | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 684,709 | 617,587 | 1,642,938 | 1,502,203 |
Apparel, Accessories and Equipment | United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 459,633 | 406,474 | 1,081,942 | 970,194 |
Apparel, Accessories and Equipment | LAAP | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 93,486 | 92,869 | 267,919 | 263,849 |
Apparel, Accessories and Equipment | EMEA | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 66,058 | 63,950 | 183,168 | 168,306 |
Apparel, Accessories and Equipment | Canada | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 65,532 | 54,294 | 109,909 | 99,854 |
Footwear | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 222,084 | 178,214 | 444,673 | 382,525 |
Footwear | United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 121,630 | 89,687 | 227,072 | 168,981 |
Footwear | LAAP | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 29,760 | 25,510 | 89,800 | 86,983 |
Footwear | EMEA | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 38,345 | 36,401 | 84,110 | 88,806 |
Footwear | Canada | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 32,349 | $ 26,616 | $ 43,691 | $ 37,755 |
Non-Controlling Interest Non-Co
Non-Controlling Interest Non-Controlling Interest (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
Noncontrolling Interest [Line Items] | |||||
Non-controlling Interest, Ownership Percentage by Parent | 60.00% | 60.00% | |||
Restricted Cash, Current | $ 13,970,000 | $ 0 | $ 13,970,000 | $ 13,970,000 | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 21,332,000 | ||||
Payments of Ordinary Dividends, Noncontrolling Interest | $ 20,000,000 | $ 0 | 19,949,000 | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | ||||
Non-controlling Interest [Member] | |||||
Noncontrolling Interest [Line Items] | |||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ 21,332,000 |
Non-Controlling Interest Non-_2
Non-Controlling Interest Non-Controlling Interest (Schedule of Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Noncontrolling Interest [Line Items] | ||||
Net Income (Loss) Attributable to Parent | $ 119,258 | $ 100,152 | $ 216,464 | $ 154,996 |
Net Income (Loss) Attributable to Noncontrolling Interest | $ 0 | $ 2,223 | $ 0 | 6,603 |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 14,100 | |||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.24 | $ 0.22 | $ 0.72 | $ 0.66 |
Balance, beginning of period | $ 1,655,194 | $ 1,654,375 | $ 1,690,313 | $ 1,652,259 |
Net income | 119,258 | 102,375 | 216,464 | 161,599 |
Other comprehensive income (loss): | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | (162) | 56 | (158) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (8,389) | (562) | (5,033) | (12,565) |
Dividends, Cash | (16,231) | (15,304) | (48,917) | (46,160) |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (21,332) | |||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,251 | 1,446 | 11,948 | 12,286 |
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 4,378 | 3,648 | 13,159 | 10,247 |
Stock Repurchased During Period, Value | (15,769) | (67,116) | (116,195) | (107,222) |
Balance, end of period | $ 1,747,106 | 1,681,596 | $ 1,747,106 | 1,681,596 |
Non-controlling Interest [Member] | ||||
Other comprehensive income (loss): | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ (511) | (418) | ||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ (21,332) |
Intangible Assets, Net and Go_3
Intangible Assets, Net and Goodwill (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | $ 700 | $ 700 | $ 2,200 | $ 2,200 |
Intangible Assets, Net and Go_4
Intangible Assets, Net and Goodwill (Summary Of Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Summary of Identifiable Intangible Assets [Line Items] | |||
Intangible assets subject to amortization, Gross carrying amount | $ 37,198 | $ 37,198 | $ 37,198 |
Intangible assets subject to amortization, Accumulated amortization | (28,279) | (26,044) | (25,299) |
Intangible assets subject to amortization, Net carrying amount | 8,919 | 11,154 | 11,899 |
Intangible assets not subject to amortization | 115,421 | 115,421 | 115,421 |
Intangible assets, net | 124,340 | 126,575 | 127,320 |
Patents And Purchased Technology [Member] | |||
Summary of Identifiable Intangible Assets [Line Items] | |||
Intangible assets subject to amortization, Gross carrying amount | 14,198 | 14,198 | 14,198 |
Intangible assets subject to amortization, Accumulated amortization | (12,979) | (11,981) | (11,649) |
Customer Relationships [Member] | |||
Summary of Identifiable Intangible Assets [Line Items] | |||
Intangible assets subject to amortization, Gross carrying amount | 23,000 | 23,000 | 23,000 |
Intangible assets subject to amortization, Accumulated amortization | $ (15,300) | $ (14,063) | $ (13,650) |
Intangible Assets, Net and Go_5
Intangible Assets, Net and Goodwill Schedule of Estimated Five Year Amortization Expense (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 2,980 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2,537 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,650 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,650 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 1,650 |
Intangible Assets, Net and Go_6
Intangible Assets, Net and Goodwill Narrative prior year (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of Intangible Assets | $ 700 | $ 700 | $ 2,200 | $ 2,200 |
Product Warranty (Reconciliatio
Product Warranty (Reconciliation Of Product Warranties) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reconciliation of Product Warranty Accrual [Roll Forward] | ||||
Balance at beginning of period | $ 13,186 | $ 11,857 | $ 13,186 | $ 12,339 |
Provision for warranty claims | 645 | 555 | 3,140 | 2,997 |
Warranty claims | (440) | (378) | (2,899) | (3,088) |
Other | (180) | 50 | (216) | (164) |
Balance at end of period | $ 13,211 | $ 12,084 | $ 13,211 | $ 12,084 |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 11 months 26 days | ||
Commitments and Contingencies | $ 13,600 | ||
Operating Leases, Rent Expense | $ 32,506 | $ 97,627 | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.89% |
Leases Components of Leases Cos
Leases Components of Leases Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Leases [Abstract] | ||||
Operating Leases, Rent Expense | $ 32,506 | $ 97,627 | ||
Operating Lease, Cost | $ 20,072 | $ 57,592 | ||
Variable Lease, Cost | 12,676 | 38,572 | ||
Short-term Lease, Cost | 3,442 | 5,614 | ||
Lease, Cost | $ 36,190 | $ 101,778 |
Leases Other lease information
Leases Other lease information (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating Lease, Payments | $ 56,843 |
Operating Lease, Liability | $ 429,271 |
Operating Lease, Weighted Average Remaining Lease Term | 6 years 11 months 26 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.89% |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 467,075 |
Leases Future maturities of lea
Leases Future maturities of lease liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Leases [Abstract] | ||||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 20,119 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 76,258 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 68,625 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 63,532 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 58,579 | |||
Finance Lease, Liability, Payments, Due after Year Five | 212,496 | |||
Finance Lease, Liability, Payment, Due | 499,609 | |||
Unrecorded Unconditional Purchase Obligation, Imputed Interest | (70,338) | |||
Operating Lease, Liability | 429,271 | |||
Operating Lease, Liability, Current | (62,756) | $ (57,207) | $ 0 | $ 0 |
Operating Lease, Liability, Noncurrent | $ 366,515 | $ 329,865 | $ 0 | $ 0 |
Leases Topic 840 - Future Minim
Leases Topic 840 - Future Minimum Payments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2018 | |
840-Rent Expense [Line Items] | |||
Operating Leases, Rent Expense | $ 32,506 | $ 97,627 | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 72,280 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 65,379 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 57,460 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 52,607 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 47,837 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 155,897 | ||
Operating Leases, Future Minimum Payments Due | $ 451,460 | ||
General and Administrative Expense [Member] | |||
840-Rent Expense [Line Items] | |||
Operating Leases, Rent Expense | 32,058 | 96,370 | |
Cost of Sales [Member] | |||
840-Rent Expense [Line Items] | |||
Operating Leases, Rent Expense | $ 448 | $ 1,257 |
Commitments And Contingencies (
Commitments And Contingencies (Details) $ in Millions | Sep. 30, 2019USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Inventory purchase obligations | $ 356.5 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Equity [Abstract] | ||||
Stock Repurchased During Period, Value | $ 15,769 | $ 67,116 | $ 116,195 | $ 107,222 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2019USD ($)$ / sharesshares | |
Employee Stock Options [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Stock options granted (in shares) | shares | 394,730 |
Unrecognized costs related to share based compensation | $ | $ 11,600,000 |
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 4 months 20 days |
Equity Option [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 22.53 |
Restricted Stock Units [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 95.47 |
Unrecognized costs related to share based compensation | $ | $ 21,800,000 |
Weighted average period of recognition of unrecognized costs related to stock options, years | 2 years 3 months 18 days |
Restricted stock units granted (in shares) | shares | 169,134 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 4,378 | $ 3,648 | $ 13,159 | $ 10,247 |
Employee Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Expense | 1,509 | 1,277 | 4,600 | 3,571 |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Expense | $ 2,869 | $ 2,371 | $ 8,559 | $ 6,676 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Weighted Average Assumptions) (Details) | 9 Months Ended |
Sep. 30, 2019$ / shares | |
Equity Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Weighted average grant date fair value (in dollars per share) | $ 22.53 |
Stock-Based Compensation (Sch_2
Stock-Based Compensation (Schedule Of Weighted Average Assumptions For Restricted Stock Units) (Details) | 9 Months Ended |
Sep. 30, 2019$ / shares | |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 95.47 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of earnings per share, number of shares | 440,993 | 240,357 | 378,617 | 349,381 |
Stock Repurchased During Period, Value | $ 15,769 | $ 67,116 | $ 116,195 | $ 107,222 |
Earnings Per Share (Reconciliat
Earnings Per Share (Reconciliation Of Common Shares Used In Denominator For Computing Basic And Diluted EPS) (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 440,993 | 240,357 | 378,617 | 349,381 |
Weighted average shares of common stock outstanding, used in computing basic earnings per share (in shares) | 67,593,000 | 69,589,000 | 67,935,000 | 69,895,000 |
Effect of dilutive stock options and restricted stock units (in shares) | 587,000 | 768,000 | 685,000 | 790,000 |
Weighted-average shares of common stock outstanding, used in computing diluted earnings per share (in shares) | 68,180,000 | 70,357,000 | 68,620,000 | 70,685,000 |
Income Loss From Continuing Operations Per Basic And Diluted Share [Abstract] | ||||
Earnings (loss) per share of common stock, Basic (in dollars per share) | $ 1.76 | $ 1.44 | $ 3.19 | $ 2.22 |
Earnings (loss) per share of common stock, Diluted (in dollars per share) | $ 1.75 | $ 1.42 | $ 3.15 | $ 2.19 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | $ (1,298) | $ (6,374) | $ (4,063) | $ (8,887) |
Other comprehensive income (loss) before reclassifications | (2,074) | 328 | 4,142 | 3,783 |
Amounts reclassified from other comprehensive income | (3,901) | 1,811 | (7,253) | 1,384 |
Net other comprehensive income (loss) during the period | (5,975) | 2,139 | (3,111) | 5,167 |
Accumulated other comprehensive income (loss) at end of period | (7,273) | (4,235) | (7,273) | (4,235) |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (16,555) | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 14,100 | |||
Unrealized Gains (Losses) on Available-For-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | (4) | 0 | (60) | (4) |
Other comprehensive income (loss) before reclassifications | 0 | (162) | 56 | (158) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | 0 | (162) | 56 | (158) |
Accumulated other comprehensive income (loss) at end of period | (4) | (162) | (4) | (162) |
Unrealized Holding Gains (Losses) on Derivative Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | 11,317 | 3,889 | 11,964 | (10,716) |
Other comprehensive income (loss) before reclassifications | 6,315 | 541 | 9,119 | 16,088 |
Amounts reclassified from other comprehensive income | (3,901) | 1,811 | (7,253) | 1,384 |
Net other comprehensive income (loss) during the period | 2,414 | 2,352 | 1,866 | 17,472 |
Accumulated other comprehensive income (loss) at end of period | 13,731 | 6,241 | 13,731 | 6,241 |
Foreign Currency Translation Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss) at beginning of period | (12,611) | (10,263) | (15,967) | 1,833 |
Other comprehensive income (loss) before reclassifications | (8,389) | (51) | (5,033) | (12,147) |
Amounts reclassified from other comprehensive income | 0 | 0 | 0 | 0 |
Net other comprehensive income (loss) during the period | (8,389) | (51) | (5,033) | (12,147) |
Accumulated other comprehensive income (loss) at end of period | $ (21,000) | $ (10,314) | (21,000) | (10,314) |
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | $ (99) | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (515) |
Segment Information (Schedule O
Segment Information (Schedule Of Segment Information) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)GeographicSegments | Sep. 30, 2018USD ($) | |
Segment Reporting Information [Line Items] | ||||
Quantifying Misstatement in Current Year Financial Statements, Amount | $ 4,500 | $ 10,800 | ||
Number of Operating Segments | GeographicSegments | 4 | |||
Net sales to unrelated entities | $ 906,793 | 795,801 | $ 2,087,611 | 1,884,728 |
Income from operations | 152,015 | 129,144 | 256,338 | 198,214 |
Interest income, net | 1,399 | 2,524 | 7,370 | 7,748 |
Other non-operating expense | (563) | 736 | 915 | 372 |
Income before income tax | 152,851 | 132,404 | 264,623 | 206,334 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 581,263 | 496,161 | 1,309,014 | 1,139,175 |
Income from operations | 156,190 | 125,862 | 298,366 | 243,332 |
LAAP | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 123,246 | 118,379 | 357,719 | 350,832 |
Income from operations | 17,081 | 17,183 | 53,822 | 51,548 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 104,403 | 100,351 | 267,278 | 257,112 |
Income from operations | 18,162 | 14,782 | 36,905 | 26,328 |
Canada [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales to unrelated entities | 97,881 | 80,910 | 153,600 | 137,609 |
Income from operations | 27,024 | 17,944 | 30,417 | 21,236 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 218,457 | 175,771 | 419,510 | 342,444 |
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Unallocated corporate expenses | $ (66,442) | $ (46,627) | $ (163,172) | $ (144,230) |
Segment Information Concentrati
Segment Information Concentrations (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Revenue, Product and Service Benchmark [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 10.00% | 0.00% | 0.00% |
Segment Information Concentra_2
Segment Information Concentration (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Accounts Receivable [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 0.00% | 0.00% | 11.60% |
Revenue, Product and Service Benchmark [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 10.00% | 0.00% | 0.00% |
Financial Instruments And Ris_3
Financial Instruments And Risk Management (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Derivative [Line Items] | |
Deferred net gains on derivatives accumulated in other comprehensive income expected reclassification to net income in next twelve months | $ 11,900,000 |
Derivatives maximum remaining maturity | 4 years |
Maximum [Member] | |
Derivative [Line Items] | |
Aggregate unrealized gain of derivative contracts with single counterparty | $ 7,000,000 |
Financial Instruments And Ris_4
Financial Instruments And Risk Management (Gross Notional Amount Of Outstanding Derivative Instruments) (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Derivative, Remaining Maturity | 4 years | ||
Derivative Instruments Designated As Cash Flow Hedges [Member] | Currency Forward Contracts [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Currency forward contracts | $ 412,041 | $ 399,348 | $ 434,738 |
Derivative Instruments Not Designated As Cash Flow Hedges [Member] | Currency Forward Contracts [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Currency forward contracts | $ 235,945 | $ 379,701 | $ 289,772 |
Financial Instruments And Ris_5
Financial Instruments And Risk Management (Balance Sheet Classification And Fair Value Of Derivative Instruments) (Details) - Currency Forward Contracts [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative assets | $ 16,603 | $ 11,818 | $ 7,262 |
Prepaid Expenses And Other Current Assets [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative assets | 1,857 | 1,797 | 865 |
Other Noncurrent Assets [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative assets | 4,830 | 9,922 | 7,963 |
Accrued Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | 201 | 47 | 584 |
Accrued Liabilities [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | 320 | 970 | 154 |
Other Long Term Liabilities [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative liabilities | $ 109 | $ 1 | $ 0 |
Financial Instruments And Ris_6
Financial Instruments And Risk Management (Effect And Classification Of Derivative Instruments) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative Instruments Designated As Cash Flow Hedges [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in other comprehensive income or loss | $ 6,315 | $ 866 | $ 9,119 | $ 16,493 |
Cost of Sales [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) reclassified from accumulated other comprehensive income or loss to income or loss for the effective portion | 5,087 | (4,192) | 7,208 | (7,796) |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 0 | 1,637 | 2,380 | 5,458 |
Sales [Member] | Derivative Instruments Designated As Cash Flow Hedges [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) reclassified from accumulated other comprehensive income or loss to income or loss for the effective portion | 172 | 17 | 282 | 41 |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 0 | 4 | (31) | 16 |
Other Non-operating Income (Expense) [Member] | Derivative Instruments Not Designated As Cash Flow Hedges [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income or loss | $ 1,855 | $ 372 | $ 1,281 | $ 2,606 |
Fair Value Measures (Assets And
Fair Value Measures (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 110,598 | $ 458,003 | $ 365,926 |
Total liabilities measured at fair value | 630 | 1,018 | 738 |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 87,308 | 132,912 | 81,975 |
Total liabilities measured at fair value | 0 | 0 | 0 |
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 23,290 | 325,091 | 283,951 |
Total liabilities measured at fair value | 630 | 1,018 | 738 |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Total liabilities measured at fair value | 0 | 0 | 0 |
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 521 | 1,017 | 738 |
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 0 | 0 | 0 |
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 521 | 1,017 | 738 |
Accrued Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 0 | 0 | 0 |
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 109 | 1 | |
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 0 | 0 | |
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 109 | 1 | |
Other Long Term Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities measured at fair value | 0 | 0 | |
Cash Equivalents [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 72,941 | ||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 72,941 | ||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | ||
Cash Equivalents [Member] | Money Market Funds [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | ||
Available-For-Sale Short-Term Investments [Member] | Repurchase Agreements [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 261,602 | 267,861 | |
Available-For-Sale Short-Term Investments [Member] | Repurchase Agreements [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Available-For-Sale Short-Term Investments [Member] | Repurchase Agreements [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 261,602 | 267,861 | |
Available-For-Sale Short-Term Investments [Member] | Repurchase Agreements [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 122,237 | 70,573 | |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 122,237 | 70,573 | |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Cash and Cash Equivalents [Member] | Repurchase Agreements [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 39,952 | ||
Cash and Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | ||
Cash and Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 39,952 | ||
Cash and Cash Equivalents [Member] | Repurchase Agreements [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | ||
Short-term Investments [Member] | Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 1,477 | 1,200 | 1,452 |
Short-term Investments [Member] | Mutual Fund [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 1,477 | 1,200 | 1,452 |
Short-term Investments [Member] | Mutual Fund [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Short-term Investments [Member] | Mutual Fund [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 18,460 | 13,615 | 8,127 |
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 18,460 | 13,615 | 8,127 |
Other Current Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Noncurrent Assets [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 1,528 | 869 | |
Other Noncurrent Assets [Member] | Money Market Funds [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 1,528 | 869 | |
Other Noncurrent Assets [Member] | Money Market Funds [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Other Noncurrent Assets [Member] | Money Market Funds [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Other Noncurrent Assets [Member] | Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 11,362 | 8,606 | 9,950 |
Other Noncurrent Assets [Member] | Mutual Fund [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 11,362 | 8,606 | 9,950 |
Other Noncurrent Assets [Member] | Mutual Fund [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Noncurrent Assets [Member] | Mutual Fund [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Noncurrent Assets [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 4,830 | 9,922 | 7,963 |
Other Noncurrent Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | 0 |
Other Noncurrent Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 4,830 | 9,922 | 7,963 |
Other Noncurrent Assets [Member] | Derivative Financial Instruments, Assets [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 0 | $ 0 | $ 0 |
Related Party Transactions Rela
Related Party Transactions Related Party Transactions (Details) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Apr. 17, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2019EUR (€) | Jan. 01, 2019 | Dec. 31, 2018USD ($) | |
Related Party Transaction [Line Items] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | $ 100,000,000 | |||||||
Non-controlling Interest, Ownership Percentage by Parent | 60.00% | 60.00% | 60.00% | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ 21,332,000 | ||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | $ 20,000,000 | $ 0 | 19,949,000 | ||||||
Related Party Transaction, Due from (to) Related Party, Current | $ 14,000,000 | ||||||||
Restricted Cash, Current | $ 0 | 13,970,000 | 0 | 13,970,000 | $ 13,970,000 | ||||
Payments to Noncontrolling Interests | $ 3,900,000 | $ 17,880,000 | 0 | ||||||
Swire Resources [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Dividend Payable to Parent | 32,000,000 | ||||||||
United States of America, Dollars | |||||||||
Related Party Transaction [Line Items] | |||||||||
Due from Joint Ventures | 53,300,000 | 53,300,000 | |||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 21,300,000 | ||||||||
China, Yuan Renminbi | |||||||||
Related Party Transaction [Line Items] | |||||||||
Due from Joint Ventures | 341,300,000 | $ 341,300,000 | |||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ 136,500,000 | ||||||||
European Subsidiary [Member] | Unsecured And Uncommitted Credit Line1 [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 25,800,000 |
Short Term Borrowings and Cre_2
Short Term Borrowings and Credit Lines (Details) | Sep. 30, 2019USD ($) | Sep. 30, 2019EUR (€) | Apr. 17, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2019EUR (€) |
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ | $ 50,000,000 | $ 100,000,000 | |||
Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Interest Rate at Period End | 87.50% | 87.50% | |||
Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Interest Rate at Period End | 162.50% | 162.50% | |||
Unsecured And Uncommitted Credit Line1 [Member] | European Subsidiary [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 25,800,000 | ||||
Line of Credit Facility, Interest Rate at Period End | 75.00% | 75.00% | |||
Unsecured And Uncommitted Credit Line2 [Member] | European Subsidiary [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 5,000,000 | ||||
Unsecured And Uncommitted Line Of Credit [Member] | European Subsidiary [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ | $ 33,700,000 |
Short Term Borrowings and Cre_3
Short Term Borrowings and Credit Lines Narrative (Details) | Sep. 30, 2019USD ($) | Sep. 30, 2019EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2018EUR (€) | Sep. 30, 2018USD ($) | Sep. 30, 2018EUR (€) |
Line of Credit Facility [Line Items] | ||||||
Long-term Line of Credit | $ | $ 0 | $ 0 | $ 0 | |||
Minimum [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Line of Credit Facility, Interest Rate at Period End | 87.50% | 87.50% | ||||
Maximum [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Line of Credit Facility, Interest Rate at Period End | 162.50% | 162.50% | ||||
European Subsidiary [Member] | Unsecured And Uncommitted Credit Line1 [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Long-term Line of Credit | € | € 0 | € 0 | € 0 | |||
Line of Credit Facility, Interest Rate at Period End | 75.00% | 75.00% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||||
Income Tax Expense (Benefit) | $ 33,593 | $ 30,029 | $ 48,159 | $ 44,735 |
Effective Income Tax Rate Percentage Expense (Benefit) | 22.00% | 22.70% | 18.20% | 21.70% |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 6,600 |