XML 33 R20.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2017
Segment Information |
Segment Information | 13. Segment Information The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about assessing performance and allocating resources. The Company has four reportable segments that are organized on the basis of product categories. These segments include Titleist golf balls, Titleist golf clubs, Titleist golf gear and FootJoy golf wear. The CODM primarily evaluates performance using segment operating income. Segment operating income includes directly attributable expenses and certain shared costs of corporate administration that are allocated to the reportable segments, but excludes interest expense, net; gains and losses on the fair value of common stock warrants; transaction fees and other non‑operating gains and losses as the Company does not allocate these to the reportable segments. The CODM does not evaluate a measure of assets when assessing performance. Results shown for the three and six months ended June 30, 2017 and 2016 are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. There are no intersegment transactions. Information by reportable segment and a reconciliation to reported amounts are as follows:
(in thousands) |  | Three months ended June 30, |  | Six months ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Titleist golf balls |  | $ | 154,959 |  | $ | 165,876 |  | $ | 289,151 |  | $ | 296,249
Titleist golf clubs |  |  | 93,337 |  |  | 118,337 |  |  | 195,279 |  |  | 233,829
Titleist golf gear |  |  | 47,300 |  |  | 44,782 |  |  | 89,690 |  |  | 84,334
FootJoy golf wear |  |  | 112,499 |  |  | 119,400 |  |  | 254,740 |  |  | 264,030
Other |  |  | 19,893 |  |  | 14,866 |  |  | 32,743 |  |  | 24,754
Total net sales |  | $ | 427,988 |  | $ | 463,261 |  | $ | 861,603 |  | $ | 903,196
Segment operating income |  |  |  |  |  |  |  |  |  |  |  |
Titleist golf balls |  | $ | 30,972 |  | $ | 36,854 |  | $ | 52,052 |  | $ | 52,353
Titleist golf clubs |  |  | 4,638 |  |  | 15,827 |  |  | 16,002 |  |  | 35,409
Titleist golf gear |  |  | 10,276 |  |  | 9,160 |  |  | 17,568 |  |  | 14,616
FootJoy golf wear |  |  | 5,528 |  |  | 6,111 |  |  | 26,631 |  |  | 25,766
Other |  |  | 5,115 |  |  | 2,666 |  |  | 7,942 |  |  | 3,849
Total segment operating income |  |  | 56,529 |  |  | 70,618 |  |  | 120,195 |  |  | 131,993
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (4,901) |  |  | (14,563) |  |  | (7,823) |  |  | (28,404)
Loss on fair value of common stock warrants |  |  | - |  |  | (4,233) |  |  | - |  |  | (6,112)
Transaction fees |  |  | (52) |  |  | (5,264) |  |  | (146) |  |  | (8,965)
Other |  |  | 669 |  |  | 2,861 |  |  | 2,134 |  |  | 2,868
Total income before income tax |  | $ | 52,245 |  | $ | 49,419 |  | $ | 114,360 |  | $ | 91,380

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration