XML 56 R45.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The tables below contain information utilized by management to evaluate its operating segments for the interim periods presented (in thousands).
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Net revenues: |  |  |  |  |  |  |
Golf Equipment | $ | 401,259 |  |  | $ | 209,943 |  |  | $ | 778,141 |  |  | $ | 501,604 |
Apparel, Gear and Other | 186,929 |  |  | 87,053 |  |  | 369,031 |  |  | 237,668 |
Topgolf(1) | 325,453 |  |  | — |  |  | 418,090 |  |  | — |
Total net revenues | $ | 913,641 |  |  | $ | 296,996 |  |  | $ | 1,565,262 |  |  | $ | 739,272 |
Income before income taxes: |  |  |  |  |  |  |
Golf Equipment | $ | 98,089 |  |  | $ | 29,181 |  |  | $ | 183,010 |  |  | $ | 87,801 |
Apparel, Gear and Other | 15,668 |  |  | (11,711) |  |  | 36,158 |  |  | (15,510) |
Topgolf(1) | 24,204 |  |  | — |  |  | 28,158 |  |  | — |
Total segment operating income | 137,961 |  |  | 17,470 |  |  | 247,326 |  |  | 72,291 |
Reconciling items(2) | (62,070) |  |  | (193,085) |  |  | 148,769 |  |  | (209,861) |
Total income before income taxes | $ | 75,891 |  |  | $ | (175,615) |  |  | $ | 396,095 |  |  | $ | (137,570) |
Additions to long-lived assets:(3) |  |  |  |  |  |  |
Golf Equipment | $ | 9,359 |  |  | $ | 2,778 |  |  | $ | 15,784 |  |  | $ | 19,740 |
Apparel, Gear and Other | 7,507 |  |  | 3,142 |  |  | 12,574 |  |  | 13,266 |
Topgolf | 114,009 |  |  | — |  |  | 140,127 |  |  | — |
Total additions to long-lived assets | $ | 130,875 |  |  | $ | 5,920 |  |  | $ | 168,485 |  |  | $ | 33,006 |
(1)On March 8, 2021, the Company completed the merger with Topgolf and has included the results of operations of Topgolf in its consolidated condensed statements of operations from that date forward. (2)Reconciling items represent the deduction of corporate general and administration expenses and other income (expenses), which are not utilized by management in determining segment profitability. Reconciling items for the three and six months ended June 30, 2021 also include (i) transaction, transition and other non-recurring expenses in connection with the merger with Topgolf of $2,503,000 and $18,731,000, respectively, (ii) amortization and depreciation expense of $6,184,000 and $8,431,000, respectively, on the acquired intangible assets and fair value step-up of leases and property, plant and equipment (see Note 6), and (iii) $771,000 and $1,480,000, respectively, of costs related to the implementation of new IT systems for Jack Wolfskin. The six months ended June 30, 2021 also includes a gain of $252,531,000 related to the fair value step-up on the Company's pre-acquisition investment in Topgolf (see Note 10). Reconciling items for the three and six months ended June 30, 2020 included an impairment charge of $174,269,000 related to Jack Wolfskin (see Note 9), in addition to severance related to the Company's cost reduction initiatives in response to the COVID-19 pandemic, non-recurring costs associated with the Company's transition to its new North America Distribution Center and costs related to the integration of Jack Wolfskin. These increases were partially offset by the recognition of a net gain of $11,046,000 related to a cash flow hedge that was discontinued during the second quarter of 2020. (3)Additions to long-lived assets are comprised of purchases of property, plant and equipment.

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=120311839&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=120311839&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=121556970&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 30 -URI http://asc.fasb.org/extlink&oid=120311839&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