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Stock Plans and Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Shares Authorized, Available for Future Grant and Outstanding Under Each Plans | The following table presents shares authorized, available for future grant and outstanding under each of the Company’s plans as of December 31, 2022 (in millions):
| Authorized |  | Available(1) |  | Outstanding(2)
2004 Incentive Plan | 33.0 |  |  | — |  |  | 2.9 |
2013 Directors Plan | 1.0 |  |  | — |  |  | — |
2021 Inducement Plan | 1.3 |  |  | — |  |  | 0.5 |
2022 Incentive Plan | 16.0 |  |  | 16.1 |  |  | 0.1 |
Topgolf Equity Compensation Plans and Option Agreement | 3.4 |  |  | — |  |  | 1.9 |
Total | 54.7 |  |  | 16.1 |  |  | 5.4 |
(1) Includes shares subject to a full award value under the 2022 Incentive Plan’s fungible share ratio.
(2) Excludes 0.1 million of issued restricted stock awards which are not outstanding.
Stock Option Activities | The following table summarizes the Company’s stock option activities for the year ended December 31, 2022 (in millions, except per share amounts and contractual term):
Options |  | Number of Shares |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2022 |  | 2.0 |  |  | $ | 26.60 |  |  |  |  |
Granted |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | (0.1) |  |  | $ | 11.87 |  |  |  |  |
Forfeited |  | — |  |  | $ | — |  |  |  |  |
Expired |  | — |  |  | $ | — |  |  |  |  |
Outstanding at December 31, 2022 |  | 1.9 |  |  | $ | 26.97 |  |  | 3.72 |  | $ | 1.9 |
Vested and expected to vest in the future at December 31, 2022 |  | 1.9 |  |  | $ | 26.96 |  |  | 3.72 |  | $ | 1.9 |
Exercisable at December 31, 2022 |  | 1.7 |  |  | $ | 26.30 |  |  | 3.44 |  | $ | 1.9 |
The following table summarizes information related to outstanding stock options as of December 31, 2022 (in millions, except option price and remaining life amounts):
|  |  |  | Weighted Average
Range of Option Prices |  | Options Outstanding |  | Remaining Life (Years) |  | Exercise Price
$6.52 to $35.14 |  | 1.9 |  | 3.72 |  | $26.97
Summary of Fair Value Assumptions | The table below summarizes the range and the weighted averages of the fair value assumptions used in the Black-Scholes valuation as of March 8, 2021.
Assumptions: |  | Range |  | Weighted Averages
Expected term (in years) |  | 0.3 - 7.1 |  | 3.7
Volatility |  | 43.0% - 85.4% |  | 55.1%
Risk-free interest rate |  | 0.1% -1.3% |  | 0.6%
Dividend yield |  | — |  | —
Roll-Forward of Activity for Restricted Stock Units | The following table represents activity for restricted stock units for the year ended December 31, 2022 (in millions, except fair value amounts):
Restricted Stock Units |  | Units |  | Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2022 |  | 1.6 |  |  | $ | 25.79 |
Granted |  | 0.6 |  |  | $ | 22.81 |
Vested |  | (0.7) |  |  | $ | 23.97 |
Forfeited |  | (0.1) |  |  | $ | 23.40 |
Expired |  | — |  |  | — |
Unvested at December 31, 2022 |  | 1.4 |  |  | $ | 25.47 |
Roll-Forward of Activity for Restricted Stock Awards | The following table represents activity related to restricted stock awards granted as part of the replacement awards for the year ended December 31, 2022 (in millions, except fair value amounts):
Restricted Stock Awards |  | Units |  | Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2022 |  | 0.2 |  |  | $ | 29.52 |
Granted |  | — |  |  | — |
Vested |  | (0.1) |  |  | $ | 29.52 |
Forfeited |  | — |  |  | — |
Expired |  | — |  |  | — |
Unvested at December 31, 2022 |  | 0.1 |  |  | $ | 29.52 |
Roll-Forward of Activity for Performance Share Units | The following table represents the activity for performance based awards during the year ended December 31, 2022 (in millions, except fair value amounts):
Performance Share Units |  | Units |  | Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2022 |  | 2.0 |  |  | $ | 27.00 |
Granted |  | 0.5 |  |  | $ | 34.68 |
Target Award Adjustment(1) |  | 0.1 |  |  | $ | 16.60 |
Vested |  | (0.4) |  |  | $ | 16.28 |
Forfeited |  | (0.1) |  |  | $ | 28.42 |
Unvested at December 31, 2022 |  | 2.1 |  |  | $ | 30.24 |
(1) Represents incremental shares earned by participants at a performance achievement in excess of 100% for awards previously granted.
Share-Based Compensation Including Expense for Phantom Stock Units and Cash Settled Stock Appreciation Rights Granted to Employees | The table below summarizes amounts recognized for share-based compensation related to grants of RSUs, PRSUs and stock options in the Company’s consolidated statement of operations for the periods presented (in millions):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Cost of products | $ | 1.6 |  |  | $ | 1.2 |  |  | $ | 0.8 |
Selling, general and administrative expenses | 44.0 |  |  | 36.5 |  |  | 9.3 |
Research and development expenses | 1.1 |  |  | 1.0 |  |  | 0.8 |
Other venue expenses | 0.3 |  |  | — |  |  | — |
Total cost of share-based compensation included in income, before income tax | 47.0 |  |  | 38.7 |  |  | 10.9 |
Income tax benefit | 11.3 |  |  | 8.9 |  |  | 2.5 |
Total cost of employee share-based compensation, after tax | $ | 35.7 |  |  | $ | 29.8 |  |  | $ | 8.4 |

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