Comparing Two Companies in the Same Industry: Under Armour and Columbia Sportswear

The following information is available from the financial statements included in Form 10-K for fiscal years 2014 and 2013 for Under Armour, Inc. and Columbia Sportswear Company (in thousands of dollars):

	Under Armour, Inc.	Columbia Sportswear Company
Net revenues (Net sales for Under Armour, Inc. & Columbia Sportswear) for the year ended December 31, 2014	$3,084,370	$2,100,590
Accounts receivable, net:
December 31, 2014	279,835	344,390
December 31, 2013	209,952	306,878

Required:

1. Calculate the accounts receivable turnover ratios for both companies for the most recent year. Assume all sales are on credit. Round your answers to 2 decimal places.

Under Armour	times
Columbia Sportswear	times

2. Calculate the average length of time it takes each company to collect its accounts receivable. Use 360 days and round intermediate calculations to 2 decimal places and final answers to the nearest day.

Under Armour	days
Columbia Sportswear	days