COLUMBIA SPORTSWEAR COCOLM
COLUMBIA SPORTSWEAR CO Fair Value Disclosure
| NOTE 19 — 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 the Company would receive to sell an asset or pay 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. | |||||||||
The Company's assets and liabilities measured at fair value are categorized as Level 1 or Level 2 instruments. Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions.
Assets and liabilities measured at fair value on a recurring basis are as follows:
As of December 31, 2025 | ||||||||||||||||||||||||||
| (in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||
| Cash equivalents: | ||||||||||||||||||||||||||
| Money market funds | $ | 76,680 | $ | — | $ | — | $ | 76,680 | ||||||||||||||||||
U.S. government treasury bills | — | 50,050 | — | 50,050 | ||||||||||||||||||||||
Commercial paper | — | 24,856 | — | 24,856 | ||||||||||||||||||||||
Time deposits (1) | — | 10,456 | — | 10,456 | ||||||||||||||||||||||
| Short-term investments: | ||||||||||||||||||||||||||
Available-for-sale short-term investments: (2) | ||||||||||||||||||||||||||
U.S. government treasury bills | — | 321,766 | — | 321,766 | ||||||||||||||||||||||
Commercial paper | — | 24,676 | — | 24,676 | ||||||||||||||||||||||
| Other short-term investments: | ||||||||||||||||||||||||||
| Money market funds | 292 | — | — | 292 | ||||||||||||||||||||||
| Mutual fund shares | 2,032 | — | — | 2,032 | ||||||||||||||||||||||
| Prepaid expenses and other current assets: | ||||||||||||||||||||||||||
| Derivative financial instruments | — | 7,039 | — | 7,039 | ||||||||||||||||||||||
| Other non-current assets: | ||||||||||||||||||||||||||
| Money market funds | 3,656 | — | — | 3,656 | ||||||||||||||||||||||
| Mutual fund shares | 31,923 | — | — | 31,923 | ||||||||||||||||||||||
| Derivative financial instruments | — | 2,788 | — | 2,788 | ||||||||||||||||||||||
| Total assets measured at fair value | $ | 114,583 | $ | 441,631 | $ | — | $ | 556,214 | ||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||
| Accrued liabilities: | ||||||||||||||||||||||||||
| Derivative financial instruments | $ | — | $ | 9,795 | $ | — | $ | 9,795 | ||||||||||||||||||
| Other long-term liabilities: | ||||||||||||||||||||||||||
| Derivative financial instruments | — | 5,732 | — | 5,732 | ||||||||||||||||||||||
| Total liabilities measured at fair value | $ | — | $ | 15,527 | $ | — | $ | 15,527 | ||||||||||||||||||
(1) Time deposits are carried at amortized cost on the Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.
As of December 31, 2024 | ||||||||||||||||||||||||||
| (in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||
| Cash equivalents: | ||||||||||||||||||||||||||
| Money market funds | $ | 160,743 | $ | — | $ | — | $ | 160,743 | ||||||||||||||||||
U.S. government treasury bills | — | 84,622 | — | 84,622 | ||||||||||||||||||||||
Time deposits (1) | — | 22,306 | — | 22,306 | ||||||||||||||||||||||
| Short-term investments: | ||||||||||||||||||||||||||
Available-for-sale short-term investments: (2) | ||||||||||||||||||||||||||
| U.S. government treasury bills | — | 281,499 | — | 281,499 | ||||||||||||||||||||||
| Other short-term investments: | ||||||||||||||||||||||||||
| Money market funds | 384 | — | — | 384 | ||||||||||||||||||||||
| Mutual fund shares | 1,725 | — | — | 1,725 | ||||||||||||||||||||||
| Prepaid expenses and other current assets: | ||||||||||||||||||||||||||
| Derivative financial instruments | — | 24,629 | — | 24,629 | ||||||||||||||||||||||
| Other non-current assets: | ||||||||||||||||||||||||||
| Money market funds | 1,263 | — | — | 1,263 | ||||||||||||||||||||||
| Mutual fund shares | 29,225 | — | — | 29,225 | ||||||||||||||||||||||
| Derivative financial instruments | — | 9,137 | — | 9,137 | ||||||||||||||||||||||
| Total assets measured at fair value | $ | 193,340 | $ | 422,193 | $ | — | $ | 615,533 | ||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||
| Accrued liabilities: | ||||||||||||||||||||||||||
| Derivative financial instruments | $ | — | $ | 1,725 | $ | — | $ | 1,725 | ||||||||||||||||||
| Other long-term liabilities: | ||||||||||||||||||||||||||
| Derivative financial instruments | — | 13 | — | 13 | ||||||||||||||||||||||
| Total liabilities measured at fair value | $ | — | $ | 1,738 | $ | — | $ | 1,738 | ||||||||||||||||||
(1) Time deposits are carried at amortized cost on the Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.