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Revenue Recognition (Tables) | 9 Months Ended
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Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table presents our revenue disaggregated by major category and operating and reportable segment (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Topgolf: |  |  |  |  |  |  |
Venues | $ | 430.5 |  |  | $ | 399.5 |  |  | $ | 1,270.4 |  |  | $ | 1,089.4 |
Other business lines | 17.2 |  |  | 14.3 |  |  | 51.6 |  |  | 50.1 |
Total Topgolf | $ | 447.7 |  |  | $ | 413.8 |  |  | $ | 1,322.0 |  |  | $ | 1,139.5 |
Golf Equipment: |  |  |  |  |  |  |
Golf clubs | $ | 222.2 |  |  | $ | 221.4 |  |  | $ | 913.3 |  |  | $ | 959.6 |
Golf balls | 71.2 |  |  | 75.3 |  |  | 274.8 |  |  | 257.0 |
Total Golf Equipment | $ | 293.4 |  |  | $ | 296.7 |  |  | $ | 1,188.1 |  |  | $ | 1,216.6 |
Active Lifestyle: |  |  |  |  |  |  |
Apparel | $ | 211.7 |  |  | $ | 181.4 |  |  | $ | 531.3 |  |  | $ | 456.7 |
Gear, accessories & other | 87.8 |  |  | 96.6 |  |  | 346.3 |  |  | 331.6 |
Total Active Lifestyle | $ | 299.5 |  |  | $ | 278.0 |  |  | $ | 877.6 |  |  | $ | 788.3 |
Total | $ | 1,040.6 |  |  | $ | 988.5 |  |  | $ | 3,387.7 |  |  | $ | 3,144.4 |
The following table summarizes our revenue by major geographic region (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenue by Major Geographic Region: |  |  |  |  |  |  |
United States | $ | 737.3 |  |  | $ | 684.8 |  |  | $ | 2,435.1 |  |  | $ | 2,194.7 |
Europe | 149.5 |  |  | 141.9 |  |  | 423.3 |  |  | 417.7 |
Asia | 130.7 |  |  | 138.7 |  |  | 419.1 |  |  | 432.6 |
Rest of world | 23.1 |  |  | 23.1 |  |  | 110.2 |  |  | 99.4 |
Total | $ | 1,040.6 |  |  | $ | 988.5 |  |  | $ | 3,387.7 |  |  | $ | 3,144.4 |
The following table summarizes these revenues by operating segment (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Topgolf | $ | 12.2 |  |  | $ | 9.0 |  |  | $ | 36.5 |  |  | $ | 33.2 |
Active Lifestyle | 6.0 |  |  | 6.2 |  |  | 20.9 |  |  | 20.2 |
Total | $ | 18.2 |  |  | $ | 15.2 |  |  | $ | 57.4 |  |  | $ | 53.4 |
Reconciliation of Activity Related to Short-term Deferred Revenue | The following table provides a reconciliation of activity related to our short-term deferred revenue balance for the periods presented (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Beginning Balance | $ | 98.5 |  |  | $ | 91.8 |  |  | $ | 94.9 |  |  | $ | 93.9 |
Deferral of revenue | 154.6 |  |  | 167.9 |  |  | 478.3 |  |  | 438.4 |
Revenue recognized | (150.7) |  |  | (160.1) |  |  | (457.5) |  |  | (427.9) |
Breakage | (5.4) |  |  | (4.7) |  |  | (18.5) |  |  | (13.4) |
Foreign currency translation and other | (0.1) |  |  | (0.5) |  |  | (0.3) |  |  | 3.4 |
Ending Balance | $ | 96.9 |  |  | $ | 94.4 |  |  | $ | 96.9 |  |  | $ | 94.4 |
Reconciliation of Short Term Sales Program Incentives | The following table provides a reconciliation of the activity related to our short-term sales program incentives for the periods presented (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Beginning Balance | $ | 24.8 |  |  | $ | 35.2 |  |  | $ | 20.8 |  |  | $ | 23.3 |
Additions | 4.8 |  |  | 6.1 |  |  | 26.9 |  |  | 33.6 |
Credits issued | (11.7) |  |  | (6.6) |  |  | (28.3) |  |  | (19.8) |
Foreign currency translation and other | (0.4) |  |  | (1.3) |  |  | (1.9) |  |  | (3.7) |
Ending Balance | $ | 17.5 |  |  | $ | 33.4 |  |  | $ | 17.5 |  |  | $ | 33.4 |
Sales Returns and Allowances | The following table provides a reconciliation of the activity related to our sales return reserve for the periods presented (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Beginning Balance | $ | 81.1 |  |  | $ | 77.6 |  |  | $ | 55.4 |  |  | $ | 47.4 |
Provision | 33.5 |  |  | 17.3 |  |  | 145.0 |  |  | 103.6 |
Sales returns | (31.9) |  |  | (23.5) |  |  | (117.7) |  |  | (79.6) |
Ending Balance | $ | 82.7 |  |  | $ | 71.4 |  |  | $ | 82.7 |  |  | $ | 71.4 |

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