XML 45 R30.htm IDEA: XBRL DOCUMENT
v3.22.4

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has three operating and reportable segments: •Topgolf, which is primarily comprised of service revenues and expenses from its Company-operated Topgolf venues, Toptracer ball-flight tracking technology, and WGT digital golf game; •Golf Equipment, which is comprised of product revenues and expenses that encompass golf club and golf ball products, including Callaway Golf-branded woods, hybrids, irons, wedges, Odyssey putters, including Toulon Design putters by Odyssey, packaged sets, Callaway Golf and Strata-branded golf balls and sales of pre-owned golf clubs; and •Activ e Lifestyle, which is comprised of product revenues and expenses for the Jack Wolfskin outdoor apparel, gear and accessories business, the TravisMathew golf and lifestyle apparel and accessories business, the Callaway soft goods business and the OGIO business, which consists of golf apparel and accessories (including golf bags and gloves), and storage gear for sport and personal use. This segment also includes royalties from licensing of the Company’s trademarks and service marks for various soft goods products. During the second quarter of 2022, the Company changed the name of its Apparel, Gear, and Other operating segment to Active Lifestyle. The segment name change had no impact on the composition of the Company’s segments or on previously reported financial position, results of operations, cash flow or segment operating results. There were no significant intersegment transactions during the years ended December 31, 2022, 2021, or 2020. The following table contains information utilized by management to evaluate its operating segments for the periods presented below (in millions):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Net revenues: |  |  |  |  |
Topgolf(1) | $ | 1,549.0 |  |  | $ | 1,087.6 |  |  | $ | — |
Golf Equipment | 1,406.6 |  |  | 1,229.2 |  |  | 982.7 |
Active Lifestyle | 1,040.1 |  |  | 816.6 |  |  | 606.8 |
Total net revenues | $ | 3,995.7 |  |  | $ | 3,133.4 |  |  | $ | 1,589.5 |
Income (loss) before income taxes: |  |  |  |  |
Topgolf(1) | $ | 76.8 |  |  | $ | 58.2 |  |  | $ | — |
Golf Equipment | 251.4 |  |  | 203.9 |  |  | 148.6 |
Active Lifestyle | 77.4 |  |  | 68.5 |  |  | 0.7 |
Total segment operating income | 405.6 |  |  | 330.6 |  |  | 149.3 |
Reconciling Items(2) | (148.8) |  |  | (125.9) |  |  | (254.8) |
Total operating income (loss) | 256.8 |  |  | 204.7 |  |  | (105.5) |
Gain on Topgolf investment(3) | — |  |  | 252.5 |  |  | — |
Interest expense, net | (142.8) |  |  | (115.6) |  |  | (46.9) |
Other income, net | 27.9 |  |  | 9.0 |  |  | 24.9 |
Total income (loss) before income taxes | $ | 141.9 |  |  | $ | 350.6 |  |  | $ | (127.5) |
| December 31,
| 2022 |  | 2021
Identifiable assets: |  |  |
Topgolf(1) | $ | 5,302.0 |  |  | $ | 4,910.0 |
Golf Equipment | 1,340.0 |  |  | 1,107.6 |
Active Lifestyle | 1,034.0 |  |  | 840.5 |
Reconciling items(2) | 914.4 |  |  | 889.7 |
Total identifiable assets | $ | 8,590.4 |  |  | $ | 7,747.8 |
Additions to long-lived assets: |  |  |
Topgolf(1) | $ | 490.4 |  |  | $ | 286.8 |
Golf Equipment | 13.8 |  |  | 30.7 |
Active Lifestyle | 22.4 |  |  | 21.0 |
Total additions to long-lived assets | $ | 526.6 |  |  | $ | 338.5 |
Depreciation and amortization: |  |  |
Topgolf(1) | $ | 143.8 |  |  | $ | 114.6 |
Golf Equipment | 20.7 |  |  | 14.1 |
Active Lifestyle | 28.3 |  |  | 27.1 |
Total depreciation and amortization | $ | 192.8 |  |  | $ | 155.8 |
(1) On March 8, 2021, the Company completed the merger with Topgolf and has included the results of operations, identifiable assets, additions to long-lived assets, and depreciation and amortization of Topgolf in its consolidated statements of operations and statements of financial position from that date forward.
(2) Reconciling items include corporate general and administrative expenses not utilized by management in determining segment profitability as well as the amortization and depreciation of acquired intangible assets and purchase accounting adjustments. The amount for 2022 also includes costs associated with the one-time implementation of new ERP systems installed at acquired companies, legal and credit agency fees related to a postponed debt refinancing, and impairment losses related to an underperforming premerger Topgolf concept location in addition to the suspension of business operations in Russia. The amount for 2021 also includes transaction, transition and other non-recurring costs associated with the merger with Topgolf and costs associated with the implementation of new IT systems for Jack Wolfskin.
(3) The gain on Topgolf investment is related to the fair value step-up on the Company’s investment in Topgolf (see Note 6).
The Company markets its products in the United States and internationally, with its principal international markets being Asia and Europe. The tables below contain information about the geographical areas in which the Company operates. Net revenues are attributed to the location to which the product was shipped. Long-lived assets are based on location of domicile.
| 2022 |  | 2021 |  | 2020
| (in millions)
Net Revenues: |  |  |  |  |
United States | $ | 2,798.0 |  |  | $ | 2,067.1 |  |  | $ | 778.6 |
Europe | 537.4 |  |  | 499.5 |  |  | 373.0 |
Asia | 545.4 |  |  | 465.5 |  |  | 212.1 |
Rest of World | 114.9 |  |  | 101.3 |  |  | 225.8 |
Total Net Revenues | $ | 3,995.7 |  |  | $ | 3,133.4 |  |  | $ | 1,589.5 |
Long-Lived Assets(1) |  |  |  |  |
United States | $ | 1,729.0 |  |  | $ | 1,383.6 |  |  | $ | 116.5 |
Europe | 58.8 |  |  | 48.9 |  |  | 17.1 |
Asia | 18.8 |  |  | 7.2 |  |  | 6.0 |
Rest of World | 3.0 |  |  | 11.7 |  |  | 6.9 |
Total Long-Lived Assets | $ | 1,809.6 |  |  | $ | 1,451.4 |  |  | $ | 146.5 |
(1) In 2021, the Company re-evaluated its definition of long-lived assets to include property, plant and equipment. As a result, the information presented for 2020 was recast to conform with the current year presentation.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration