XML 36 R41.htm IDEA: XBRL DOCUMENT
v3.19.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Segment Reporting [Abstract] |
Operating Segments | The tables below contain information utilized by management to evaluate its operating segments for the interim periods presented (in thousands).
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018(1) |  | 2019 |  | 2018(1)
Net sales: |  |  |  |  |  |  |
Golf Equipment | $ | 210,502 |  |  | $ | 187,057 |  |  | $ | 826,474 |  |  | $ | 798,104 |
Apparel, Gear and Other | 215,715 |  |  | 75,597 |  |  | 562,648 |  |  | 264,052 |
| $ | 426,217 |  |  | $ | 262,654 |  |  | $ | 1,389,122 |  |  | $ | 1,062,156 |
Income before income taxes: |  |  |  |  |  |  |
Golf Equipment | $ | 23,124 |  |  | $ | 17,003 |  |  | $ | 148,782 |  |  | $ | 158,460 |
Apparel, Gear and Other | 34,877 |  |  | 8,016 |  |  | 68,909 |  |  | 51,547 |
Reconciling items(2) | (24,825 | ) |  | (13,944 | ) |  | (90,352 | ) |  | (40,801 | )
| $ | 33,176 |  |  | $ | 11,075 |  |  | $ | 127,339 |  |  | $ | 169,206 |
Additions to long-lived assets: |  |  |  |  |  |  |
Golf Equipment | $ | 7,648 |  |  | $ | 6,220 |  |  | $ | 20,989 |  |  | $ | 20,490 |
Apparel, Gear and Other | 6,783 |  |  | 3,121 |  |  | 15,465 |  |  | 5,679 |
| $ | 14,431 |  |  | $ | 9,341 |  |  | $ | 36,454 |  |  | $ | 26,169 |
(1) | The Company changed its operating segments as of January 1, 2019. Accordingly, prior period amounts have been reclassified to conform with the current period presentation.
(2) | Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. The increase in reconciling items for the three and nine months ended September 30, 2019 compared to 2018 includes incremental corporate general and administrative expenses associated with the addition of the Jack Wolfskin business in January 2019, as well as incremental costs of $2,442,000 and $25,275,000 for the three and nine months ended September 30, 2019, respectively, primarily related to transaction and transition costs associated with the acquisition of Jack Wolfskin that was completed in January 2019, combined with the amortization of intangible assets related to the Jack Wolfskin acquisition. Reconciling items also include incremental interest expense of $7,902,000 and $24,449,000, for the three and nine months ended September 30, 2019, respectively, primarily due to the new Term Loan Facility to fund the purchase of Jack Wolfskin, combined with higher outstanding borrowings on the Company's credit facilities period over period. See Note 5 for information on the Company's credit facilities and long-term debt obligations.
| September 30, 2019 |  | December 31, 2018(1)
Total Assets: |  |  |
Golf Equipment | $ | 404,117 |  |  | $ | 437,604 |
Apparel, Gear and Other | 907,102 |  |  | 269,432 |
Reconciling items(2) | 548,429 |  |  | 345,908 |
| $ | 1,859,648 |  |  | $ | 1,052,944 |
Goodwill: |  |  |
Golf Equipment | $ | 25,801 |  |  | $ | 26,183 |
Apparel, Gear and Other | 175,243 |  |  | 29,633 |
| $ | 201,044 |  |  | $ | 55,816 |
(1) | The Company changed its operating and reportable segments as of January 1, 2019. Accordingly, prior period amounts have been reclassified to conform with the current period presentation.
(2) Total assets by operating segment are comprised of net inventory, certain property, plant and equipment, intangible assets and goodwill. Reconciling items represent unallocated corporate assets not segregated between the two reportable operating segments including cash and cash equivalents, net accounts receivable, deferred tax assets and derivative instruments.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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