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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Valuation of Foreign Currency Exchange Contracts by Pricing Levels | The following table summarizes the valuation of the Company’s foreign currency forward contracts (see Note 17) that are measured at fair value on a recurring basis by the above pricing levels at September 30, 2020 and December 31, 2019 (in thousands):
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
September 30, 2020 |  |  |  |  |  |  |
Foreign currency forward contracts—asset position | $ | 2,701 |  |  | $ | — |  |  | $ | 2,701 |  |  | $ | — |
Foreign currency forward contracts—liability position | (2,440 | ) |  | — |  |  | (2,440 | ) |  | — |
Interest rate hedge agreements—liability position | (19,505 | ) |  | — |  |  | (19,505 | ) |  | — |
| $ | (19,244 | ) |  | $ | — |  |  | $ | (19,244 | ) |  | $ | — |
December 31, 2019 |  |  |  |  |  |  |
Foreign currency forward contracts—asset position | $ | 61 |  |  | $ | — |  |  | $ | 61 |  |  | $ | — |
Foreign currency forward contracts—liability position | (766 | ) |  | — |  |  | (766 | ) |  | — |
Cross-currency debt swap agreements—asset position | 6,163 |  |  | — |  |  | 6,163 |  |  | — |
Cross-currency debt swap agreements—liability position | (25 | ) |  | — |  |  | (25 | ) |  | — |
Interest rate hedge agreements—liability position | (8,894 | ) |  | — |  |  | (8,894 | ) |  | — |
| $ | (3,461 | ) |  | $ | — |  |  | $ | (3,461 | ) |  | $ | — |
Fair Value Relating to Financial Assets and Liabilities | The carrying values of cash and cash equivalents at September 30, 2020 and December 31, 2019 are categorized within Level 1 of the fair value hierarchy. The table below summarizes information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated condensed balance sheets as of September 30, 2020 and December 31, 2019, as well as the fair value of contingent contracts that represent financial instruments (in thousands).
| September 30, 2020 |  | December 31, 2019
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Term Loan Facility(1) | $ | 442,800 |  |  | $ | 443,221 |  |  | $ | 446,400 |  |  | $ | 450,864 |
2020 Japan Term Loan Facility(2) | $ | 18,966 |  |  | $ | 18,966 |  |  | $ | — |  |  | $ | — |
Convertible Notes(3) | $ | 258,750 |  |  | $ | 349,561 |  |  | $ | — |  |  | $ | — |
Primary Asset-Based Revolving Credit Facility(4) | $ | 28,813 |  |  | $ | 28,813 |  |  | $ | 114,480 |  |  | $ | 114,480 |
Japan ABL Facility(4) | $ | 1,422 |  |  | $ | 1,422 |  |  | $ | 30,100 |  |  | $ | 30,100 |
Equipment notes(5) | $ | 33,881 |  |  | $ | 33,881 |  |  | $ | 19,715 |  |  | $ | 19,715 |
(1) | In January 2019, the Company entered into a Term Loan Facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 6 for further information.
(2) | In August 2020, the Company entered into the 2020 Japan Term Loan Facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 6 for further information.
(3) | In May 2020, the Company issued $258,750,000 of 2.75% Convertibles Notes due in 2026. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. For further discussion, see Note 6.
(4) | The carrying value of the amounts outstanding under the Company's ABL Facility and Japan ABL Facility approximates the fair value due to the short-term nature of these obligations. The fair value of this debt is categorized within Level 2 of the fair value hierarchy based on the observable market borrowing rates. See Note 6 for information on the Company's credit facilities, including certain risks and uncertainties related thereto.
(5) | In December 2017, August 2019 and March 2020, the Company entered into equipment notes that are both secured by certain equipment at the Company's golf ball manufacturing facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 6 for further information.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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