XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Information by Reportable Segment and a Reconciliation to Reported Amounts | Information by reportable segment and a reconciliation to reported amounts are as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales |  |  |  |  |  |  |  |
Titleist golf balls |  | $ | 190,560 |  |  | $ | 192,557 |  |  | $ | 646,017 |  |  | $ | 622,125 |
Titleist golf clubs |  | 213,907 |  |  | 181,045 |  |  | 595,311 |  |  | 549,846 |
Titleist golf gear |  | 51,574 |  |  | 47,657 |  |  | 188,661 |  |  | 184,571 |
FootJoy golf wear |  | 133,137 |  |  | 136,669 |  |  | 482,753 |  |  | 500,174 |
Other |  | 31,323 |  |  | 35,453 |  |  | 99,180 |  |  | 112,318 |
Total net sales |  | $ | 620,501 |  |  | $ | 593,381 |  |  | $ | 2,011,922 |  |  | $ | 1,969,034 |
Segment operating income |  |  |  |  |  |  |  |
Titleist golf balls |  | $ | 31,150 |  |  | $ | 43,770 |  |  | $ | 134,334 |  |  | $ | 131,591 |
Titleist golf clubs |  | 49,930 |  |  | 36,509 |  |  | 124,670 |  |  | 118,455 |
Titleist golf gear |  | 4,246 |  |  | 788 |  |  | 28,270 |  |  | 26,657 |
FootJoy golf wear |  | 502 |  |  | (1,469) |  |  | 34,814 |  |  | 32,927 |
Other |  | 804 |  |  | 1,693 |  |  | 7,348 |  |  | 12,606 |
Total segment operating income |  | 86,632 |  |  | 81,291 |  |  | 329,436 |  |  | 322,236 |
Reconciling items: |  |  |  |  |  |  |  |
Interest expense, net |  | (13,187) |  |  | (9,389) |  |  | (40,367) |  |  | (30,234) |
Non-service cost component of net periodic benefit cost |  | (875) |  |  | (844) |  |  | (2,438) |  |  | (2,501) |
Other (1) |  | (4,097) |  |  | (2,760) |  |  | (18,816) |  |  | (11,746) |
Total income before income tax |  | $ | 68,473 |  |  | $ | 68,298 |  |  | $ | 267,815 |  |  | $ | 277,755 |
_______________________________________________________________________________ (1) For the nine months ended September 30, 2024, includes $7.0 million related to restructuring costs associated with the closure of certain production lines at the VIE's Fujian Fuh Deh Leh (“FDL”) factory (Note 16).
Schedule of Net Sales By Geographical Area | Information as to the Company’s operations in different geographical areas is presented below. Net sales are categorized based on the location in which the sale originates.
|  | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
United States |  | $ | 374,219 |  |  | $ | 352,463 |  |  | $ | 1,200,989 |  |  | $ | 1,123,766 |
EMEA (1) |  | 75,496 |  |  | 75,643 |  |  | 263,850 |  |  | 266,502 |
Japan |  | 41,738 |  |  | 39,035 |  |  | 108,731 |  |  | 118,183 |
Korea |  | 67,091 |  |  | 65,652 |  |  | 226,167 |  |  | 241,267 |
Rest of World |  | 61,957 |  |  | 60,588 |  |  | 212,185 |  |  | 219,316 |
Total net sales |  | $ | 620,501 |  |  | $ | 593,381 |  |  | $ | 2,011,922 |  |  | $ | 1,969,034 |
_______________________________________________________________________________ (1) Europe, the Middle East and Africa ("EMEA")

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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