XML 39 R30.htm IDEA: XBRL DOCUMENT v3.22.1

Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The Company’s debt obligations consist of the following (in millions):

						Maturity Date						Interest Rate						March 31, 2022						December 31, 2021
Short-Term Credit Facilities
U.S. Asset-Based Revolving Credit Facility						May 17, 2024						2.33%						$	178.2					$	9.1
2022 Japan ABL Facility (1)						January 21, 2025						0.89%						41.1						—
Total Principal Amount																		$	219.3					$	9.1
Unamortized Debt Issuance Costs																		$	0.9					$	0.9
Balance Sheet Location
Prepaid expenses																		$	0.5					$	0.9
Other long-term assets																		$	0.4					$	—
Asset-based credit facilities																		$	219.3					$	9.1
						Maturity Date						Interest Rate						March 31, 2022						December 31, 2021
Long-Term Debt and Credit Facilities
Japan Term Loan						July 31, 2025						0.85%						$	—					$	13.0
Term Loan B (2)						January 4, 2026						4.96%						435.6						436.8
Topgolf Term Loan						February 8, 2026						7.00%						339.5						340.4
Convertible Notes						May 1, 2026						2.75%						258.8						258.8
Equipment Notes						December 27, 2022 - March 19, 2027						2.36% - 3.79%						28.6						31.1
Mortgage Loans						July 1, 2033 - July 29, 2036						9.75% - 11.31%						46.3						46.4
Financed Tenant Improvements						February 1, 2035						8.00%						3.6						3.7
Total Principal Amount																		$	1,112.4					$	1,130.2
Less: Unamortized Debt Issuance Costs																		26.2						85.8
Total Debt, net of Unamortized Debt Issuance Costs																		$	1,086.2					$	1,044.4
Balance Sheet Location
Other current liabilities																		$	15.7					$	19.1
Long-term debt																		1,070.5						1,025.3
																		$	1,086.2					$	1,044.4
(1) Subject to an effective interest rate equal to the Tokyo Interbank Offered Rate plus 0.80%.
(2) Subject to an interest rate per annum equal to either, at the Company’s option, the London Interbank Offered Rate or the base rate, plus 4.50% or 3.50%.

Schedule of Aggregate Amount of Maturities for Debt

The following table presents the Company’s combined aggregate amount of maturities for the Company’s long-term debt over the next five years and thereafter as of March 31, 2022. Amounts payable under the ABL Facility are excluded from this table as they are short-term in nature. Amounts payable under the Term Loan included below represent the minimum principal repayment obligations as of March 31, 2022.

						(in millions)
Remainder of 2022						$	14.4
2023						16.5
2024						15.3
2025						13.0
2026						1,006.8
Thereafter						46.4
						$	1,112.4
Less: Unamortized Debt Issuance Costs						26.2
Total						$	1,086.2

X

- Definition

Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 303
-Paragraph (a)
-Subparagraph (5)

+ Details

Name:	srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration