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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the preliminary purchase price allocation (in thousands):
| At March 8, 2021
Assets Acquired |  |
Cash |  | $ | 171,294 |
Accounts receivable |  | 10,678 |
Inventories |  | 13,944 |
Other current assets |  | 52,233 |
Property and equipment |  | 1,080,349 |
Operating lease right-of-use assets |  | 1,329,296 |
Investments |  | 28,768 |
Other assets |  | 33,664 |
Intangibles - trade name |  | 994,200 |
Intangibles - technology, customer relationships and liquor licenses |  | 81,929 |
Goodwill |  | 1,340,663 |
Total assets acquired |  | 5,137,018 |
Liabilities Assumed |  |
Accounts payable and accrued liabilities |  | 95,799 |
Accrued employee costs |  | 37,092 |
Construction advances |  | 40,491 |
Deferred revenue |  | 66,196 |
Other current liabilities |  | 7,829 |
Long-term debt |  | 535,096 |
Deemed landlord financing |  | 303,037 |
Operating lease liabilities |  | 1,402,291 |
Other long-term liabilities |  | 32,025 |
Deferred tax liabilities |  | 131,532 |
Net assets acquired |  | $ | 2,485,630 |
Goodwill allocated to other business units |  | 563,220 |
Total purchase price and consideration transferred in the merger |  | $ | 3,048,850 |
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands):
| At January 4, 2019
Assets Acquired |
Cash | $ | 58,096 |
Accounts receivable | 26,637 |
Inventories | 94,504 |
Income tax receivable | 6,588 |
Other current assets | 11,483 |
Property and equipment | 20,930 |
Operating lease right-of-use assets | 120,865 |
Deferred tax assets | 2,930 |
Other assets | 23 |
Intangibles - trade name | 239,295 |
Intangibles - retail partners & distributor relationships | 38,743 |
Goodwill | 150,180 |
Total assets acquired | 770,274 |
Liabilities Assumed |
Accounts payable and accrued liabilities | 46,124 |
Income taxes payable, long-term | 2,416 |
Operating lease liabilities | 120,524 |
Deferred tax liabilities | 80,009 |
Net assets acquired | $ | 521,201 |
Supplemental Pro Forma Information | The following table presents supplemental pro-forma information for the years ended December 31, 2021 and 2020 as if the merger with Topgolf had occurred on January 1, 2020. These amounts have been calculated after applying the Company's accounting policies and are based upon currently available information. For this analysis, the Company assumed that certain gains and costs associated with the merger were recognized as of January 1, 2020, including a gain of $252,531,000 recognized on the Company's pre-acquisition investment in Topgolf, acquisition costs of $28,914,000, the amortization of estimated intangible assets and other fair value adjustments, as well as the tax effect on those costs, and a valuation allowance on certain acquired net operating losses and tax credit carryforwards (see Note 14). Pre-acquisition net revenue and net income (loss) amounts for Topgolf were derived from the books and records of Topgolf prepared prior to the acquisition and are presented for informational purposes only and do not purport to be indicative of the results of future operations or of the results that would have occurred had the acquisition taken place as of the dates noted below.
| Years Ended December 31,
| 2021 |  | 2020
| (in thousands)
Net revenues | $ | 3,276,391 |  |  | $ | 2,305,654 |
Net income (loss) | $ | 72,340 |  |  | $ | (318,762) |

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