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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
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, 2025
(in thousands) | Titleist Golf Equipment |  | FootJoy Golf Wear |  | Golf Gear |  | Total Reportable Segments |  | Other (1) |  | Total Consolidated
Net sales | $ | 427,600 |  |  | $ | 136,491 |  |  | $ | 61,187 |  |  | $ | 625,278 |  |  | $ | 32,380 |  |  | $ | 657,658 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 202,250 |  |  | 83,853 |  |  | 37,579 |  |  | 323,682 |  |  |  |  |
Advertising and promotion | 46,986 |  |  | 11,075 |  |  | 3,377 |  |  | 61,438 |  |  |  |  |
Research and development | 16,364 |  |  | 1,096 |  |  | 685 |  |  | 18,145 |  |  |  |  |
Selling, general and administrative | 76,673 |  |  | 35,515 |  |  | 11,705 |  |  | 123,893 |  |  |  |  |
Other segment items (2) | 1,628 |  |  | 57 |  |  | 649 |  |  | 2,334 |  |  |  |  |
Restructuring costs (3) | — |  |  | — |  |  | — |  |  | — |  |  | 2,823 |  |  |
Other expenses | — |  |  | — |  |  | — |  |  | — |  |  | 32,416 |  |  |
Total operating income | 83,699 |  |  | 4,895 |  |  | 7,192 |  |  | 95,786 |  |  | (2,859) |  |  | 92,927 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (14,516) |
Non-service cost component of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  | (2,418) |
Other |  |  |  |  |  |  |  |  |  |  | 660 |
Total income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 76,653 |
_________________________________ (1) Amounts represent operating segments that do not meet the quantitative thresholds to be a reportable segment, as well as unallocated corporate expenses. These non-reportable segments include two premium performance apparel businesses. (2) Other segment items primarily include identifiable intangible asset amortization expense. (3) Restructuring costs primarily relate to the voluntary bridge to retirement ("VBR") program (Note 16). Information by reportable segment and a reconciliation to reported amounts are as follows:
| Three months ended September 30, 2024
(in thousands) | Titleist Golf Equipment |  | FootJoy Golf Wear |  | Golf Gear |  | Total Reportable Segments |  | Other (1) |  | Total Consolidated
Net sales | $ | 404,467 |  |  | $ | 131,152 |  |  | $ | 53,559 |  |  | $ | 589,178 |  |  | $ | 31,323 |  |  | $ | 620,501 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 185,926 |  |  | 82,204 |  |  | 33,007 |  |  | 301,137 |  |  |  |  |
Advertising and promotion | 43,085 |  |  | 10,753 |  |  | 3,400 |  |  | 57,238 |  |  |  |  |
Research and development | 16,799 |  |  | 1,172 |  |  | 557 |  |  | 18,528 |  |  |  |  |
Selling, general and administrative | 75,126 |  |  | 36,319 |  |  | 11,847 |  |  | 123,292 |  |  |  |  |
Other segment items (2) | 2,451 |  |  | 55 |  |  | 649 |  |  | 3,155 |  |  |  |  |
Restructuring costs | — |  |  | — |  |  | — |  |  | — |  |  | 432 |  |  |
Other expenses | — |  |  | — |  |  | — |  |  | — |  |  | 34,652 |  |  |
Total operating income | 81,080 |  |  | 649 |  |  | 4,099 |  |  | 85,828 |  |  | (3,761) |  |  | 82,067 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (13,187) |
Non-service cost component of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  | (875) |
Other |  |  |  |  |  |  |  |  |  |  | 468 |
Total income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 68,473 |
_________________________________ (1) Amounts represent operating segments that do not meet the quantitative thresholds to be a reportable segment, as well as unallocated corporate expenses. These non-reportable segments include two premium performance apparel businesses. (2) Other segment items primarily include identifiable intangible asset amortization expense. Information by reportable segment and a reconciliation to reported amounts are as follows:
| Nine months ended September 30, 2025
(in thousands) | Titleist Golf Equipment |  | FootJoy Golf Wear |  | Golf Gear |  | Total Reportable Segments |  | Other (1) |  | Total Consolidated
Net sales | $ | 1,302,489 |  |  | $ | 467,902 |  |  | $ | 208,802 |  |  | $ | 1,979,193 |  |  | $ | 102,313 |  |  | $ | 2,081,506 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 629,695 |  |  | 276,977 |  |  | 120,256 |  |  | 1,026,928 |  |  |  |  |
Advertising and promotion | 143,207 |  |  | 38,510 |  |  | 10,679 |  |  | 192,396 |  |  |  |  |
Research and development | 49,354 |  |  | 3,518 |  |  | 2,099 |  |  | 54,971 |  |  |  |  |
Selling, general and administrative | 228,264 |  |  | 107,731 |  |  | 35,687 |  |  | 371,682 |  |  |  |  |
Other segment items (2) | 6,527 |  |  | 167 |  |  | 1,946 |  |  | 8,640 |  |  |  |  |
Restructuring costs (3) | — |  |  | — |  |  | — |  |  | — |  |  | 9,642 |  |  |
Other expenses | — |  |  | — |  |  | — |  |  | — |  |  | 99,905 |  |  |
Total operating income | 245,442 |  |  | 40,999 |  |  | 38,135 |  |  | 324,576 |  |  | (7,234) |  |  | 317,342 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (43,529) |
Non-service cost component of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  | (4,032) |
Other (4) |  |  |  |  |  |  |  |  |  |  | 21,149 |
Total income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 290,930 |
_________________________________ (1) Amounts represent operating segments that do not meet the quantitative thresholds to be a reportable segment, as well as unallocated corporate expenses. These non-reportable segments include two premium performance apparel businesses. (2) Other segment items primarily include identifiable intangible asset amortization expense. (3) Restructuring costs primarily relate to the VBR program (Note 16). (4) Other includes a non-cash gain on deconsolidation of $20.9 million related to Lionscore (Note 1). Information by reportable segment and a reconciliation to reported amounts are as follows:
| Nine months ended September 30, 2024
(in thousands) | Titleist Golf Equipment |  | FootJoy Golf Wear |  | Golf Gear |  | Total Reportable Segments |  | Other (1) |  | Total Consolidated
Net sales | $ | 1,241,328 |  |  | $ | 477,236 |  |  | $ | 194,178 |  |  | $ | 1,912,742 |  |  | $ | 99,180 |  |  | $ | 2,011,922 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 580,992 |  |  | 289,003 |  |  | 117,936 |  |  | 987,931 |  |  |  |  |
Advertising and promotion | 130,744 |  |  | 40,009 |  |  | 10,032 |  |  | 180,785 |  |  |  |  |
Research and development | 45,349 |  |  | 3,262 |  |  | 1,626 |  |  | 50,237 |  |  |  |  |
Selling, general and administrative | 217,888 |  |  | 109,429 |  |  | 34,921 |  |  | 362,238 |  |  |  |  |
Other segment items (2) | 7,351 |  |  | 166 |  |  | 1,946 |  |  | 9,463 |  |  |  |  |
Restructuring costs (3) | — |  |  | — |  |  | — |  |  | — |  |  | 7,525 |  |  |
Other expenses | — |  |  | — |  |  | — |  |  | — |  |  | 104,272 |  |  |
Total operating income | 259,004 |  |  | 35,367 |  |  | 27,717 |  |  | 322,088 |  |  | (12,617) |  |  | 309,471 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (40,367) |
Non-service cost component of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  | (2,438) |
Other |  |  |  |  |  |  |  |  |  |  | 1,149 |
Total income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 267,815 |
_________________________________ (1) Amounts represent operating segments that do not meet the quantitative thresholds to be a reportable segment, as well as unallocated corporate expenses. These non-reportable segments include two premium performance apparel businesses. (2) Other segment items primarily include identifiable intangible asset amortization expense. (3) Restructuring costs primarily relate to Lionscore (Note 16).
Schedule of Net Sales By Geographical Regions | Information as to the Company’s operations in different geographic regions 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) |  | 2025 |  | 2024 |  | 2025 |  | 2024
United States |  | $ | 396,951 |  |  | $ | 374,219 |  |  | $ | 1,255,664 |  |  | $ | 1,200,989 |
EMEA (1) |  | 91,053 |  |  | 75,496 |  |  | 293,556 |  |  | 263,850 |
Japan |  | 36,891 |  |  | 41,738 |  |  | 102,295 |  |  | 108,731 |
Korea |  | 67,659 |  |  | 67,091 |  |  | 213,951 |  |  | 226,167 |
Rest of World |  | 65,104 |  |  | 61,957 |  |  | 216,040 |  |  | 212,185 |
Total net sales |  | $ | 657,658 |  |  | $ | 620,501 |  |  | $ | 2,081,506 |  |  | $ | 2,011,922 |
_______________________________________________________________________________ (1) Europe, the Middle East and Africa ("EMEA")

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