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Other Business Developments
3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Other Business Developments Other Business Developments
In January 2023, the Company acquired certain trademarks from Club Glove, an industry leader specializing in premium performance golf travel products, for $25.2 million including cash consideration of $22.2 million and contingent consideration of $3.0 million, which was included in accrued expenses and other liabilities on the unaudited condensed consolidated balance sheet as of March 31, 2023. The trademarks acquired were included in the Company's Titleist golf gear reporting segment and will be amortized over a weighted average life of 10 years.
On November 4, 2022, the Company completed the acquisition of an 80% interest in certain assets and liabilities of TPI EDU, LLC, Onbase University, LP and Racquetfit, LP, (together known as "TPI") for cash consideration of $18.4 million. As part of the acquisition, the Company recorded a redeemable noncontrolling interest of $4.6 million (Note 1). TPI is a leading supplier of online courses, certifications, educational programs, live seminars, and other educational services in the golf, baseball and tennis industries. The results of TPI have been included in the Company's Titleist golf clubs reporting segment since the date of acquisition (Note 14).
On April 1, 2022, the Company acquired the outstanding equity interest in PG Golf LLC for $5.0 million, including cash consideration of $3.6 million and contingent consideration of $1.4 million, which was included in other noncurrent liabilities on the unaudited condensed consolidated balance sheet as of March 31, 2023 and December 31, 2022.