Attached files
| file | filename |
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| 8-K - FORM 8-K - COLUMBIA SPORTSWEAR CO | d724254d8k.htm |
Exhibit 99.1
COLUMBIA SPORTSWEAR COMPANY
Schedule of Reclassified Segment Operating Income
(Unaudited)
In the first quarter of 2014, Columbia Sportswear Company (the “Company”) reclassified its segment reporting to reflect changes in its internal management and oversight structure. Certain marketing, product creation and administrative costs incurred by the Company’s corporate offices, previously included in the United States segment, have been allocated to other geographic regions based on appropriate operational metrics. Other such costs not directly or indirectly allocable to regional segments, consisting of expenses incurred by centrally-managed departments including global information systems, finance and legal, executive compensation, unallocated benefit program expense and other miscellaneous costs, are now shown below as unallocated corporate expenses. Prior year amounts have been adjusted to match current year presentation.
The geographic distribution of Columbia Sportswear Company’s income (loss) from operations for each quarter of fiscal 2013, as reported and recast, is summarized in the following tables (in thousands).
| Three Months Ended | ||||||||
| March 31, 2013 | ||||||||
| Recast | As Reported | |||||||
| Segment income (loss) from operations: |
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| United States |
25,547 | 8,053 | ||||||
| Latin America/Asia Pacific |
11,356 | 7,796 | ||||||
| Europe/Middle East/Africa |
(5,573 | ) | (5,112 | ) | ||||
| Canada |
3,503 | 1,991 | ||||||
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| Total segment income from operations |
34,833 | 12,728 | ||||||
| Unallocated corporate expense |
(22,105 | ) | — | |||||
| Interest |
132 | 132 | ||||||
| Other non-operating expense |
(630 | ) | (630 | ) | ||||
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| Income before income taxes |
12,230 | 12,230 | ||||||
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| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, 2013 | June 30, 2013 | |||||||||||||||
| Recast | As Reported | Recast | As Reported | |||||||||||||
| Segment income (loss) from operations: |
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| United States |
5,415 | (11,200 | ) | 30,962 | (3,147 | ) | ||||||||||
| Latin America/Asia Pacific |
10,558 | 6,969 | 21,914 | 14,765 | ||||||||||||
| Europe/Middle East/Africa |
(1,558 | ) | (1,163 | ) | (7,131 | ) | (6,275 | ) | ||||||||
| Canada |
(4,050 | ) | (4,603 | ) | (547 | ) | (2,612 | ) | ||||||||
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| Total segment income (loss) from operations |
10,365 | (9,997 | ) | 45,198 | 2,731 | |||||||||||
| Unallocated corporate expense |
(20,362 | ) | — | (42,467 | ) | — | ||||||||||
| Interest |
215 | 215 | 347 | 347 | ||||||||||||
| Other non-operating expense |
(473 | ) | (473 | ) | (1,103 | ) | (1,103 | ) | ||||||||
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| Income (loss) before income taxes |
(10,255 | ) | (10,255 | ) | 1,975 | 1,975 | ||||||||||
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| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2013 | September 30, 2013 | |||||||||||||||
| Recast | As Reported | Recast | As Reported | |||||||||||||
| Segment income from operations: |
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| United States |
73,571 | 50,260 | 104,533 | 47,113 | ||||||||||||
| Latin America/Asia Pacific |
11,975 | 9,199 | 33,889 | 23,964 | ||||||||||||
| Europe/Middle East/Africa |
10,215 | 11,188 | 3,084 | 4,913 | ||||||||||||
| Canada |
9,919 | 6,252 | 9,372 | 3,640 | ||||||||||||
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| Total segment income from operations |
105,680 | 76,899 | 150,878 | 79,630 | ||||||||||||
| Unallocated corporate expense |
(28,781 | ) | — | (71,248 | ) | — | ||||||||||
| Interest |
56 | 56 | 403 | 403 | ||||||||||||
| Other non-operating income (expense) |
417 | 417 | (686 | ) | (686 | ) | ||||||||||
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| Income before income taxes |
77,372 | 77,372 | 79,347 | 79,347 | ||||||||||||
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| Three Months Ended | Year Ended | |||||||||||||||
| December 31, 2013 | December 31, 2013 | |||||||||||||||
| Recast | As Reported | Recast | As Reported | |||||||||||||
| Segment income (loss) from operations: |
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| United States |
63,862 | 36,550 | 168,395 | 83,663 | ||||||||||||
| Latin America/Asia Pacific |
21,258 | 17,932 | 55,147 | 41,896 | ||||||||||||
| Europe/Middle East/Africa |
(6,638 | ) | (5,888 | ) | (3,554 | ) | (975 | ) | ||||||||
| Canada |
4,446 | 3,570 | 13,818 | 7,210 | ||||||||||||
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| Total segment income from operations |
82,928 | 52,164 | 233,806 | 131,794 | ||||||||||||
| Unallocated corporate expense |
(30,764 | ) | — | (102,012 | ) | — | ||||||||||
| Interest |
100 | 100 | 503 | 503 | ||||||||||||
| Other non-operating expense |
(185 | ) | (185 | ) | (871 | ) | (871 | ) | ||||||||
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| Income before income taxes |
52,079 | 52,079 | 131,426 | 131,426 | ||||||||||||
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