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sands) ows from operating activities: me Adjustments to reconcile net income to net cash provided by operating activities: eciation, amortization, and non-cash lease expense ision for uncollectible accounts receivable CONSOLIDATED STATEMENTS OF CASH FLOWS Loss on disposal or impairment of intangible assets, property, plant and equipment, and right-of-use assets med income taxes k-based compensation s in operating assets and liabilites unts receivable stories, net ald expenses and other current assets assets unts payable ved liabilities me taxes payable nting lease assets and liabilities fabilities provided by operating activities ows from investing activities: hases of short-term investments s and maturities of short-term investments tal expenditures provided by (used in) investing activites ows from financing activities: eeds from credit facilities tyments on credit facilities nent of line of credit issuance fees eeds from issuance of common stock related to stock-based compensation payments related to stock-based compensation urchase of common stock hase of non-controlling interest dividends paid used in financing activities et of exchange rate changes on cash ease (decrease) in cash and cash equivalents id cash equivalents, beginning of period nd cash equivalents, end of period mental disclosures of cash flow information: paid during the year for income taxes mental disclosures of non-cash investing and financing activities: erty, plant and equipment acquired through increase in liabilities $ S 2021 Year Ended December 31, $ See accompanying notes to consolidated financial statements. 359,108 115,571 (10,750) 1,233 (9,798) 19,126 (31.622) (100,261) (24,858) 1,231 75,513 66,457 (15,248) (85,176) (1.112) 354,406 (130,191) 1.184 (34,744) (163,751) 38,334 (38,156) 28,783 (5,812) (165,415) (68,623) (210,889) (7,087) (27,321) 790,725 1785,404 129,483 $,853 2020 108.013 146,601 19,156 31,342 (11,263) 17.778 22,885 64,884 33,712 (21,224) (49.275) (52.115) 9,082 (52.112) 8,613 276,077 (35,044) 36.631 (28,758) (27.171) 402,422 (403,146) (3,278) 6,919 (4,533) (132,889) (17.195) (151,700) 7,510 104,716 686.009 790.725 18,687 3.831 2019 330,489 121,725 (108) 5,442 (1,808) 17,832 (37,429) (84,058) (15,068) (3,547) (10,419) 18,863 (9,402) (54,197) 7,137 285,452 (136,257) 400,501 (123,516) 140,728 78,186 (78,186) 19,793 (5,806) (121,702) (17,880) (65,127) (190,722) (1,244) 234,214 451,795 686,009 99,062 9.543
25. 26. 27. On its income statement, Columbia reports income tax expense of $ 97,403 for 2021. However, companies often actually pay a different amount for taxes than is reported. Sometimes there are differences between accounting income determined using GAAP and taxable income, which is determined using tax rules. Sometimes there are differences in the timing of recognition of revenues and expenses. Either of these can lead to a company's reporting one amount as tax expense and actually paying a different amount. Using information provided at the bottom of the Statement of Cash Flows, how much did Columbia actually pay (in cash) for income taxes in 2021? On the income statement, companies report their net income, and also provide information about net income on a per share basis. What was Columbia's basic earnings per common share for 2021? Did this amount increase or decrease from the previous year? By how much? What was Columbia's diluted earnings per common share for 2021? Did this amount increase or decrease from last year? By how much? Did Columbia pay dividends during 2021? If so, how much in total? Per share?
sands) ome CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Year Ended December 31, 2020 comprehensive income (loss): Unrealized holding gains on available-for-sale securities, neti Unrealized holding gains (losses) on derivative transactions (net of tax effects of $(7,138), $6,271, and $830, respectively) Foreign currency translation adjustments (net of tax effects of $( 40), 5(388), and $2,188, respectively) comprehensive income (loss) ehensive income 2021 354$108 19,283 (24,465) (5.182) 348,926 See accompanying notes to consolidated financial statements. 1085013 (18,851) 24.078 5,231 113,244 2019 330,489 56 (2,383) 2,064 (263) 330,226 COLUMBIA SPORTSWEAR COMPANY | 2021 FORM 10-K141
CONSOLIDATED STATEMENT (in thousands, except per share amounts) Net sales Cost of sales Gross profit Selling, general and administrative expenses Net licensing income Operating income Interest income, net Other non-operating income (expense), net Income before income tax Income tax expense Net income Eamings per share: Basic Diluted Weighted average shares outstanding Basic Diluted $ 2021 Year Ended December 31, 2020 3,126,402 $ 1,513,947 1,612,455 1,180,323 18,372 450,504 1,380 (373) 451,511 (97.403) 354,108 5.37 S 5.33 $ 65,942 66,415 See accompanying notes to consolidated financial statements. 2,501,554 $ 1,277,665 1,223,889 1,098,948 12,108 137,049 435 2,039 139,523 (31,510) 108,013 1.63 $ 1.62 $ 66,376 66,772 2019 3,042,478 1,526,808 1,515,670 1,136,186 15,487 394,971 8,302 2,156 405,429 (74,940) 330,489 4.87 4.83 67,837 68,493 COLUMBIA SPORTSWEAR COMPANY 12021 FORM 10-K 140
Note 1: Use Net Income & Total Equity, not "net income & equity attributable to Columbia Sportswear Company" Note 2: Since Columbia has no preferred stock issued, there are no preferred dividends.