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v3.23.3

Financing Arrangements (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Our credit facilities and long-term debt obligations are summarized as follows (in millions):
|  | Maturity Date |  | Interest Rate |  | September 30, 2023 |  | December 31, 2022
Short-Term Credit Facilities |  |  |  |  |  |  |  |
U.S. Asset-Based Revolving Credit Facility |  | March 16, 2028 |  | 5.36% |  | $ | 48.0 |  |  | $ | 181.1 |
2022 Japan ABL Credit Facility |  | January 25, 2025 |  | 0.90% |  | 30.1 |  |  | 38.2 |
Total Principal Amount |  |  |  |  |  | $ | 78.1 |  |  | $ | 219.3 |
Unamortized Debt Issuance Costs |  |  |  |  |  | $ | 4.3 |  |  | $ | 0.9 |
Balance Sheet Location |  |  |  |  |  |  |  |
Asset-based credit facilities |  | $ | 78.1 |  |  | $ | 219.3 |
Prepaid expenses |  | $ | 1.0 |  |  | $ | 0.6 |
Other long-term assets |  | $ | 3.3 |  |  | $ | 0.3 |
|  | Maturity Date |  | Interest Rate |  | September 30, 2023 |  | December 31, 2022
Long-Term Debt and Credit Facilities |  |  |  |  |  |  |  |
2023 Term Loan B |  | March 16, 2030 |  | 8.92% |  | $ | 1,243.8 |  |  | $ | — |
Convertible Notes |  | May 1, 2026 |  | 2.75% |  | 258.3 |  |  | 258.3 |
Equipment Notes |  | July 24, 2023 - December 27, 2027 |  | 2.36% - 5.93% |  | 21.2 |  |  | 27.8 |
Mortgage Loans |  | July 1, 2033 - July 29, 2036 |  | 9.75% - 11.31% |  | 45.4 |  |  | 45.9 |
Financed Tenant Improvements |  | February 1, 2035 |  | 8.00% |  | 3.3 |  |  | 3.5 |
Term Loan B |  | — |  | 8.88% |  | — |  |  | 432.0 |
Topgolf Term Loan |  | — |  | 10.58% |  | — |  |  | 336.9 |
Topgolf Revolving Credit Facility |  | — |  | 8.08% |  | — |  |  | 110.0 |
Total Principal Amount |  |  |  |  |  | $ | 1,572.0 |  |  | $ | 1,214.4 |
Less: Unamortized Debt Issuance Costs |  |  |  |  |  | 32.7 |  |  | 24.3 |
Total Debt, net of Unamortized Debt Issuance Costs |  |  |  |  |  | $ | 1,539.3 |  |  | $ | 1,190.1 |
Balance Sheet Location |  |  |  |  |  |  |  |
Other current liabilities |  | $ | 17.8 |  |  | $ | 13.8 |
Long-term debt |  | 1,521.5 |  |  | 1,176.3 |
|  |  |  |  |  | $ | 1,539.3 |  |  | $ | 1,190.1 |
Schedule of Interest Expense, Debt | Total interest and amortization expense related to our credit facilities and long-term debt obligations, which is included in “Interest Expense, net” in the condensed consolidated statement of operations, is summarized as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Short-Term Credit Facilities |  |  |  |  |  |  |  |  |
U.S. Asset-Based Revolving Credit Facility | $ | 0.9 |  |  | $ | 1.2 |  |  | $ | 6.5 |  |  | $ | 2.9 |  |  |
2022 Japan ABL Credit Facility | 0.1 |  |  | 0.1 |  |  | 0.3 |  |  | 0.2 |  |  |
Total | $ | 1.0 |  |  | $ | 1.3 |  |  | $ | 6.8 |  |  | $ | 3.1 |  |  |
Long-Term Debt and Credit Facilities |  |  |  |  |  |  |  |  |
2023 Term Loan B | $ | 29.1 |  |  | $ | — |  |  | $ | 61.7 |  |  | $ | — |  |  |
Convertible Notes | 1.7 |  |  | 1.7 |  |  | 5.3 |  |  | 5.3 |  |  |
Equipment Notes | 0.2 |  |  | 0.2 |  |  | 0.7 |  |  | 0.6 |  |  |
Mortgage Loans | 1.2 |  |  | 1.2 |  |  | 3.5 |  |  | 3.6 |  |  |
Term Loan B | — |  |  | 8.4 |  |  | 8.6 |  |  | 21.2 |  |  |
Topgolf Term Loan | — |  |  | 8.0 |  |  | 7.8 |  |  | 20.7 |  |  |
Topgolf Revolving Credit Facility | — |  |  | 0.9 |  |  | 2.7 |  |  | 2.6 |  |  |
Total | $ | 32.2 |  |  | $ | 20.4 |  |  | $ | 90.3 |  |  | $ | 54.0 |  |  |
Schedule of Aggregate Amount of Maturities for Debt | The following table presents our combined aggregate amount of maturities for our long-term debt over the next five years and thereafter as of September 30, 2023. Amounts payable under the 2023 Term Loan B included below represent the minimum principal repayment obligations as of September 30, 2023.
|  | (in millions)
Remainder of 2023 |  | $ | 5.3 |
2024 |  | 20.8 |
2025 |  | 18.6 |
2026 |  | 276.3 |
2027 |  | 15.5 |
Thereafter |  | 1,235.5 |
|  | $ | 1,572.0 |
Less: Unamortized Debt Issuance Costs |  | 32.7 |
Total |  | $ | 1,539.3 |

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