Financial Reporting Problem: Columbia Sportswear Company The financial statements for the Columbia Sportswear Company can be found in Appendix A at the end of this book. Answer the following questions: a. Cash and cash equivalents increased by $ in 2017 to $ b. The largest source of cash and cash equivalents in 2017 was from the sale of , for $ c. Cash dividends in 2017 were $ December 31, 2017 2016 $ $ 673,166 94.983 364,862 457,927 58,359 1,649.497 281,394 129 555 68,594 56,804 27.058 2.212.2002 551,389 472 333,678 487,997 38,487 1,412,023 279,650 133.438 68,594 92,494 27,695 2.013.894 $ S ASSETS Current Assets: Cash and cash equivalents (Note 20) Short-term investments (Note 20) Accounts receivable, net (Note 5) Inventories Prepaid expenses and other current assets Total current assets Property, plant, and equipment, net (Note 6) Intangible assets, net (Note 7) Goodwill (Note 7) Deferred income taxes (Note 10) Other non-current assets Total assets LIABILITIES AND EQUITY Current Liabilities: Accounts payable Accued liabilities (Note %) Income taxes payable (Note 10) Total current liabilities Note payable to related party (Note 21) Other long-term liabilities (Notes 11, 12) Income taxes payable (Note 10) Deferred income taxes (Note 10) Total liabilities Commitments and contingencies (Note 13) Shareholders' Equity: Preferred stock; 10,000 shares authorized: none issued and outstanding Common stock (no par value): 125,000 shares authorized: 69,995 and 69,873 issued and outstanding (Note 14) Retained earnings Accumulated other comprehensive loss (Note 17) Total Columbia Sportswear Company sharcholders' equity Non-controlling interest (Note 4) Total equity Total liabilities and equity 252,301 182.228 19.107 453,636 215,048 142,158 5,645 362,851 14.053 42.622 12,710 147 432.383 48.735 58,104 168 560.643 45.829 1.585.009 (8.887) 1,621,951 30,308 1.652,259 2,212,902 53.801 1.529,636 (22,617) 1,560,820 20,691 1,581,511 2,013,894 $ $ See accompanying notes to consolidated financial statements Year Ended December 31, 2016 2017 2015 S 2.466,105 1,306,143 1.159.962 910,894 13,901 262.969 4.515 Net sales Cost of sales Gross profit Selling, general and administrative expenses Net licensing income Income from operations Interest income, net Interest expense on note payable to related party (Note 21) Other non-operating expense Income before income tax Income tax expense (Note 10) Net income Net income attributable to non-controlling interest Net income attributable to Columbia Sportswear Company Earnings per share attributable to Columbia Sportswear Company (Note 16): Basic Diluted Weighted average shares outstanding (Note 16): Basic Diluted 2.377,045 1.266,697 1.110,348 864,084 10.244 256,508 2,003 (1,041) (572) 256,898 (58,459) 198,439 6,541 191,898 $ 2.326,180 1.252,680 1,073,500 831,971 8,192 249,721 1.531 (1,099) (2,834) 247,319 (67,468) 179.851 5,514 174,337 (429) (321) 266,734 (154,419) 112.315 7.192 105.123 S $ 1.51 $ 2.75$ 2.72 2.48 2.45 1.49 69,759 70,453 69,683 70,632 70,162 71,064 See accompanying notes to consolidated financial statements Financial Reporting Problem: Columbia Sportswear Company The financial statements for the Columbia Sportswear Company can be found in Appendix A at the end of this book. Answer the following questions: a. Cash and cash equivalents increased by $ in 2017 to $ b. The largest source of cash and cash equivalents in 2017 was from the sale of , for $ c. Cash dividends in 2017 were $ December 31, 2017 2016 $ $ 673,166 94.983 364,862 457,927 58,359 1,649.497 281,394 129 555 68,594 56,804 27.058 2.212.2002 551,389 472 333,678 487,997 38,487 1,412,023 279,650 133.438 68,594 92,494 27,695 2.013.894 $ S ASSETS Current Assets: Cash and cash equivalents (Note 20) Short-term investments (Note 20) Accounts receivable, net (Note 5) Inventories Prepaid expenses and other current assets Total current assets Property, plant, and equipment, net (Note 6) Intangible assets, net (Note 7) Goodwill (Note 7) Deferred income taxes (Note 10) Other non-current assets Total assets LIABILITIES AND EQUITY Current Liabilities: Accounts payable Accued liabilities (Note %) Income taxes payable (Note 10) Total current liabilities Note payable to related party (Note 21) Other long-term liabilities (Notes 11, 12) Income taxes payable (Note 10) Deferred income taxes (Note 10) Total liabilities Commitments and contingencies (Note 13) Shareholders' Equity: Preferred stock; 10,000 shares authorized: none issued and outstanding Common stock (no par value): 125,000 shares authorized: 69,995 and 69,873 issued and outstanding (Note 14) Retained earnings Accumulated other comprehensive loss (Note 17) Total Columbia Sportswear Company sharcholders' equity Non-controlling interest (Note 4) Total equity Total liabilities and equity 252,301 182.228 19.107 453,636 215,048 142,158 5,645 362,851 14.053 42.622 12,710 147 432.383 48.735 58,104 168 560.643 45.829 1.585.009 (8.887) 1,621,951 30,308 1.652,259 2,212,902 53.801 1.529,636 (22,617) 1,560,820 20,691 1,581,511 2,013,894 $ $ See accompanying notes to consolidated financial statements Year Ended December 31, 2016 2017 2015 S 2.466,105 1,306,143 1.159.962 910,894 13,901 262.969 4.515 Net sales Cost of sales Gross profit Selling, general and administrative expenses Net licensing income Income from operations Interest income, net Interest expense on note payable to related party (Note 21) Other non-operating expense Income before income tax Income tax expense (Note 10) Net income Net income attributable to non-controlling interest Net income attributable to Columbia Sportswear Company Earnings per share attributable to Columbia Sportswear Company (Note 16): Basic Diluted Weighted average shares outstanding (Note 16): Basic Diluted 2.377,045 1.266,697 1.110,348 864,084 10.244 256,508 2,003 (1,041) (572) 256,898 (58,459) 198,439 6,541 191,898 $ 2.326,180 1.252,680 1,073,500 831,971 8,192 249,721 1.531 (1,099) (2,834) 247,319 (67,468) 179.851 5,514 174,337 (429) (321) 266,734 (154,419) 112.315 7.192 105.123 S $ 1.51 $ 2.75$ 2.72 2.48 2.45 1.49 69,759 70,453 69,683 70,632 70,162 71,064 See accompanying notes to consolidated financial statements