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Segment Information (Tables)

9 Months Ended

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")

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
-Topic 280
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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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-Name Accounting Standards Codification
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