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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Statements - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 48,501 $ 62,731
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 7,977 4,737
Lease amortization expense 9,154  
Amortization of debt issuance costs 647 0
Inventory step-up on acquisition 5,367 0
Deferred taxes, net 4,005 14,035
Non-cash share-based compensation 3,435 2,999
Loss/(gain) on disposal of long-lived assets 75 (3)
Unrealized (gain)/loss on foreign currency hedges (478) 2,060
Change in assets and liabilities, net of effect from acquisitions:    
Accounts receivable, net (187,577) (185,490)
Inventories 42,173 4,134
Other assets (2,962) (760)
Accounts payable and accrued expenses (22,730) 200
Accrued employee compensation and benefits (14,983) (12,883)
Accrued warranty expense 966 654
Operating leases (8,714)  
Operating leases (4,468) (1,748)
Income taxes receivable/payable, net (992) 60
Net cash used in operating activities (120,604) (109,274)
Cash flows from investing activities:    
Capital expenditures (11,304) (7,964)
Investments in golf related ventures 0 (282)
Investments in golf related ventures (463,105) 0
Proceeds from sales of property and equipment 15 0
Net cash used in investing activities (474,394) (8,246)
Cash flows from financing activities:    
Proceeds from credit facilities, net 174,182 90,768
Principal payments on finance leases (114)  
Borrowings on long-term debt 480,000 0
Dividends paid, net 0 752
Borrowings on long-term debt (1,760) (539)
Debt issuance cost (18,129) 0
Debt issuance cost (953) (954)
Exercise of stock options (27,377) (20,123)
Net cash provided by financing activities 605,849 69,904
Effect of exchange rate changes on cash and cash equivalents 4,107 660
Net increase (decrease) in cash and cash equivalents 14,958 (46,956)
Cash and cash equivalents at beginning of period 63,981  
Cash and cash equivalents at end of period 78,939 38,718
Supplemental disclosures:    
Cash paid for income taxes, net 3,259 4,244
Cash paid for interest and fees 5,042 1,317
Non-cash investing and financing activities:    
Issuance of treasury stock and common stock for compensatory stock awards released from restriction 18,467 4,331
Accrued capital expenditures at period-end $ 1,178 $ 746