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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

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-Name Accounting Standards Codification
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- 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

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