COLUMBIA SPORTSWEAR CO
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
COLM$72.26-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Table of Contents Notes to Consolidated Financial Statements
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Cash flows from operating activities: | |||
| Net income | $251,400 | $311,440 | $354,108 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation, amortization, and non-cash lease expense | 127,052 | 117,399 | 115,571 |
| Provision for uncollectible accounts receivable | 3,142 | (2,044) | (10,758) |
| Loss on disposal or impairment of investments, property, plant and equipment, right-of-use assets, goodwill, and intangible assets | 26,374 | 38,194 | 1,233 |
| Deferred income taxes | (5,135) | (8,118) | (9,798) |
| Stock-based compensation | 23,051 | 21,021 | 19,126 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 123,830 | (64,495) | (31,622) |
| Inventories | 283,826 | (399,851) | (100,261) |
| Prepaid expenses and other current assets | 29,840 | (25,749) | (24,858) |
| Other assets | (3,148) | (2,475) | 1,231 |
| Accounts payable | (85,862) | 40,429 | 75,513 |
| Accrued liabilities | (62,239) | 20,683 | 66,457 |
| Income taxes payable | (8,800) | (5,871) | (15,248) |
| Operating lease assets and liabilities | (73,718) | (62,749) | (85,176) |
| Other liabilities | 6,684 | (3,055) | (1,112) |
| Net cash provided by (used in) operating activities | 636,297 | (25,241) | 354,406 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (528,491) | (44,876) | (130,191) |
| Sales and maturities of short-term investments | 121,279 | 176,083 | 1,184 |
| Capital expenditures | (54,607) | (58,467) | (34,744) |
| Net cash provided by (used in) investing activities | (461,819) | 72,740 | (163,751) |
| Cash flows from financing activities: | |||
| Proceeds from credit facilities | 837 | 52,918 | 38,334 |
| Repayments on credit facilities | (837) | (52,979) | (38,156) |
| Payment of line of credit issuance fees | — | (604) | — |
| Proceeds from issuance of common stock related to stock-based compensation | 7,354 | 6,588 | 28,783 |
| Tax payments related to stock-based compensation | (4,681) | (4,229) | (5,812) |
| Repurchase of common stock | (184,022) | (287,443) | (165,415) |
| Cash dividends paid | (73,440) | (75,082) | (68,623) |
| Net cash used in financing activities | (254,789) | (360,831) | (210,889) |
| Net effect of exchange rate changes on cash | 389 | (19,831) | (7,087) |
| Net decrease in cash and cash equivalents | (79,922) | (333,163) | (27,321) |
| Cash and cash equivalents, beginning of period | 430,241 | 763,404 | 790,725 |
| Cash and cash equivalents, end of period | $350,319 | $430,241 | $763,404 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the period for income taxes | $90,507 | $92,110 | $129,483 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Property, plant and equipment acquired through increase in liabilities | $10,125 | $11,103 | $5,853 |
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