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Columbia Sportswear - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Columbia Sportswear Company (ISIN: US1985161066, WKN: 912855) Kursdatum: 27.07.2017 Kurs: 57,670 USD
Beschreibung Daten
Symbol COLM
Marktkapitalisierung 4.073.347.328,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Konsumgüter
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2014-09-29 - 2:1 | 2001-06-05 - 3:2 |
Internet
Letztes Bilanz Update 23.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 27.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
18,09 14,80 1,20% 9,54 77,50 21,20 1,71 2,61

Firmenbeschreibung

Firmenstrategie

Principles of consolidation:The consolidated financial statements include the accounts of Columbia Sportswear Company, its wholly owned subsidiaries and entities in which it maintains a controlling financial interest (the “Company”). All intercompany balances and transactions have been eliminated in consolidation.

RevenueRecognitionPolicyTextBlock

Revenue recognition:

The Company records wholesale, distributor, e-commerce and licensed product revenues when title passes and the risks and rewards of ownership have passed to the customer. Title generally passes upon shipment to, or upon receipt by, the customer depending on the terms of sale with the customer. Retail store revenues are recorded at the time of sale. Revenue is recorded net of sales taxes, value added taxes or similar taxes, which are collected on behalf of local taxing authorities.

Where title passes upon receipt by the customer, predominantly in the Company’s European wholesale business and in certain of our e-commerce operations, precise information regarding the date of receipt by the customer is not readily available. In these cases, the Company estimates the date of receipt by the customer based on historical and expected delivery times by geographic location. The Company periodically tests the accuracy of these estimates based on actual transactions. Delivery times vary by geographic location, generally from one to five days. To date, the Company has found these estimates to be materially accurate.

At the time of revenue recognition, the Company also provides for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims as well as events and circumstances that indicate changes to historical rates of returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from the estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that have been established, the Company would record a reduction or increase to net revenues in the period in which it made such determination.

SegmentReportingDisclosureTextBlock

SEGMENT INFORMATION

The Company has aggregated its operating segments into four reportable geographic segments: (1) the United States, (2) Latin America and Asia Pacific (“LAAP”), (3) Europe, Middle East and Africa (“EMEA”), and (4) Canada, which are reflective of the Company’s internal organization, management, and oversight structure. Each geographic segment operates predominantly in one industry: the design, development, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment. Intersegment net sales and intersegment profits, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. Unallocated corporate expenses consist of expenses incurred by centrally-managed departments, including global information systems, finance, human resources and legal, executive compensation, unallocated benefit program expense and other miscellaneous costs.

In 2014, the Company reclassified its segment reporting to reflect changes in its internal management and oversight structure. Certain marketing, product creation and administrative costs incurred by the Company’s corporate offices, previously included in the United States segment, have been allocated to other geographic regions based on relevant operational metrics. Other such costs not directly or indirectly allocable to regional segments are now shown below as unallocated corporate expenses. 2013 amounts have been adjusted to match 2015 and 2014 presentation.

The geographic distribution of the Company’s net sales, income (loss) from operations, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2015, 2014 and 2013 and for accounts receivable, net and inventories at December 31, 2015 and 2014.

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EARNINGS PER SHARE

Earnings per share (“EPS”) is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted stock units determined using the treasury stock method.

A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts):

 
 
2015
 
2014
 
2013
Net sales to unrelated entities:
 
 
 
 
 
 
United States
 
$
1,455,283

 
$
1,198,405

 
$
971,321

LAAP
 
469,140

 
491,648

 
354,345

EMEA
 
233,226

 
259,163

 
240,702

Canada
 
168,531

 
151,374

 
118,628

 
 
$
2,326,180

 
$
2,100,590

 
$
1,684,996

 
 
 
 
 
 
 
Segment income (loss) from operations:
 
 
 
 
 
 
United States
 
$
309,162

 
$
229,784

 
$
168,395

LAAP
 
65,846

 
66,810

 
55,147

EMEA
 
8,664

 
12,667

 
(3,554
)
Canada
 
23,772

 
22,784

 
13,818

Total segment income from operations
 
407,444

 
332,045

 
233,806

Unallocated corporate expenses
 
(157,723
)
 
(133,201
)
 
(102,012
)
Interest income, net
 
1,531

 
1,004

 
503

Interest expense on note payable to related party
 
(1,099
)
 
(1,053
)
 

Other non-operating expense
 
(2,834
)
 
(274
)
 
(871
)
Income before income tax
 
$
247,319

 
$
198,521

 
$
131,426

 
 
 
 
 
 
 
Interest income (expense), net:
 
 
 
 
 
 
United States
 
$
4,765

 
$
4,804

 
$
4,501

LAAP
 
(555
)
 
(138
)
 
(162
)
EMEA
 
152

 
(661
)
 
(556
)
Canada
 
(2,831
)
 
(3,001
)
 
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Weighted average common shares outstanding, used in computing basic earnings per share
 
70,162

 
69,807

 
68,756

Effect of dilutive stock options and restricted stock units
 
902

 
874

 
678

Weighted-average common shares outstanding, used in computing diluted earnings per share
 
71,064

 
70,681

 
69,434

Earnings per share of common stock attributable to Columbia Sportswear Company:
 
 
 
 
 
 
Basic
 
$
2.48

 
$
1.97

 
$
1.37

Diluted
 
2.45

 
1.94

 
1.36


Stock options and service-based restricted stock units representing 154,170, 409,250 and 721,590 shares of common stock for the years ended December 31, 2015, 2014 and 2013, respectively, were outstanding but were excluded in the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 122,858, 120,363 and 21,858 shares for the years ended December 31, 2015, 2014 and 2013, respectively, were outstanding but were excluded from the computation of diluted EPS because these shares were subject to performance conditions that had not been met.