XML 52 R37.htm IDEA: XBRL DOCUMENT
v3.22.4

Earnings (Loss) Per Common Share (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Earnings Per Share [Abstract] |
Summary of Computation of Basic and Diluted Earnings Per Share | The following table summarizes the computation of basic and diluted earnings per share (in millions, except per share data):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Earnings (loss) per common share—basic |  |  |  |  |
Net income (loss) | $ | 157.9 |  |  | $ | 322.0 |  |  | $ | (126.9) |
Weighted-average common shares outstanding—basic(1) | 184.9 |  |  | 169.1 |  |  | 94.2 |
Earnings (loss) per common share—basic | $ | 0.85 |  |  | $ | 1.90 |  |  | $ | (1.35) |
Earnings (loss) per common share—diluted |  |  |  |  |
Net income (loss) | $ | 157.9 |  |  | $ | 322.0 |  |  | $ | (126.9) |
Interest expense(2) | 6.4 |  |  | — |  |  | — |
Net income (loss) attributable to earnings per common share—diluted | $ | 164.3 |  |  | $ | 322.0 |  |  | $ | (126.9) |
Weighted-average common shares outstanding—basic(1) | 184.9 |  |  | 169.1 |  |  | 94.2 |
Convertible Notes weighted-average shares outstanding(2) | 14.7 |  |  | 5.9 |  |  | — |
Outstanding options, restricted stock units and performance share units | 1.7 |  |  | 1.9 |  |  | — |
Weighted-average common shares outstanding—diluted | 201.3 |  |  | 176.9 |  |  | 94.2 |
Earnings (loss) per common share—diluted | $ | 0.82 |  |  | $ | 1.82 |  |  | $ | (1.35) |
(1) In connection with the Topgolf merger, the Company issued 89.8 million shares of its common stock to shareholders of Topgolf, and 0.2 million shares of its common stock for restricted stock awards converted in the merger (see Note 6), of which 73.7 million weighted-average shares were included in the basic and diluted share calculations for the year ended December 31, 2021, based on the number of days the shares were outstanding during the period.
(2) As of January 1, 2022, in connection with the adoption of ASU 2020-06 (see Note 3), the Company uses the if-converted method for calculating the dilutive weighted-average shares outstanding related to the Convertible Notes when calculating earnings (loss) per common share—diluted. Under this method, interest expense related to the Convertible Notes for the respective period is excluded from net income. Prior to the adoption of ASU 2020-06, the Company used the treasury stock method for calculating the dilutive impact from the Convertible Notes.

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

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration