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Financing Arrangements (Tables) | 12 Months Ended
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Dec. 31, 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 |  | December 31, 2023 |  | December 31, 2022
Short-Term Credit Facilities |  |  |  |  |  |  |  |
U.S. Asset-Based Revolving Credit Facility |  | March 16, 2028 |  | 5.34% |  | $ | 26.3 |  |  | $ | 181.1 |
2022 Japan ABL Credit Facility |  | January 25, 2025 |  | 0.85% |  | 28.4 |  |  | 38.2 |
Total Principal Amount |  |  |  |  |  | $ | 54.7 |  |  | $ | 219.3 |
Unamortized Debt Issuance Costs |  |  |  |  |  | $ | 4.5 |  |  | $ | 0.9 |
Balance Sheet Location |  |  |  |  |  |  |  |
Asset-based credit facilities |  |  |  |  |  | $ | 54.7 |  |  | $ | 219.3 |
Prepaid expenses |  |  |  |  |  | $ | 1.1 |  |  | $ | 0.6 |
Other long-term assets |  |  |  |  |  | $ | 3.4 |  |  | $ | 0.3 |
|  | Maturity Date |  | Interest Rate |  | December 31, 2023 |  | December 31, 2022
Long-Term Debt and Credit Facilities |  |  |  |  |  |
2023 Term Loan B |  | March 16, 2030 |  | 8.96% |  | $ | 1,240.6 |  |  | $ | — |
Convertible Notes |  | May 1, 2026 |  | 2.75% |  | 258.3 |  |  | 258.3 |
Equipment Notes |  | August 27, 2024 - December 21, 2027 |  | 2.36% - 5.93% |  | 19.2 |  |  | 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 |  |  |  |  |  | $ | 1,566.8 |  |  | $ | 1,214.4 |
Less: Unamortized Debt Issuance Costs |  |  |  | 31.5 |  |  | 24.3 |
Total Debt, net of Unamortized Debt Issuance Costs |  |  |  | $ | 1,535.3 |  |  | $ | 1,190.1 |
Balance Sheet Location |  |  |  |  |  |  |  |
Other current liabilities |  |  |  |  |  | $ | 17.1 |  |  | $ | 13.8 |
Long-term debt |  |  |  |  |  | 1,518.2 |  |  | 1,176.3 |
Total Debt, net of Unamortized Debt Issuance Costs |  |  |  | $ | 1,535.3 |  |  | $ | 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 our consolidated statement of operations, is summarized as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Short-Term Credit Facilities |  |  |  |  |
U.S. Asset-Based Revolving Credit Facility | $ | 7.4 |  |  | $ | 4.3 |  |  | $ | 1.6 |
2022 Japan ABL Credit Facility | 0.3 |  |  | 0.3 |  |  | — |
Total | $ | 7.7 |  |  | $ | 4.6 |  |  | $ | 1.6 |
Long-Term Debt and Credit Facilities |  |  |  |  |
2023 Term Loan B | $ | 90.9 |  |  | $ | — |  |  | $ | — |
Convertible Notes | 7.1 |  |  | 7.1 |  |  | 7.1 |
Equipment Notes | 0.8 |  |  | 0.7 |  |  | 0.9 |
Financed Tenant Improvements | 0.3 |  |  | — |  |  | — |
Mortgage Loans | 4.7 |  |  | 4.8 |  |  | 4.0 |
Term Loan B | 8.6 |  |  | 31.2 |  |  | 24.1 |
Topgolf Term Loan | 7.8 |  |  | 29.9 |  |  | 21.4 |
Topgolf Revolving Credit Facility | 2.7 |  |  | 4.4 |  |  | 6.2 |
Japan Term Loan | — |  |  | — |  |  | 0.1 |
Total | $ | 122.9 |  |  | $ | 78.1 |  |  | $ | 63.8 |
Summary of U.S. Asset-Based Revolving Credit Facility | Our average borrowings, availability, and interest rate under the New ABL Facility were as follows (in millions except interest rates):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Average borrowings | $ | 104.9 |  |  | $ | 101.9 |  |  | $ | 20.3 |
Average availability | $ | 354.6 |  |  | $ | 253.0 |  |  | $ | 295.3 |
Weighted average interest rate | 5.88 | % |  | 4.01 | % |  | 3.04 | %
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 December 31, 2023. Amounts payable under the 2023 Term Loan B below represent minimum principal repayment obligations as of December 31, 2023.
|  | (in millions)
2024 |  | $ | 20.8 |
2025 |  | 18.6 |
2026 |  | 276.4 |
2027 |  | 15.6 |
2028 |  | 13.7 |
Thereafter |  | 1,221.7 |
Total aggregate amount of maturities |  | 1,566.8 |
Less: Unamortized Debt Issuance Costs |  | 31.5 |
Total aggregate amount of maturities, net of Unamortized Debt Issuance Costs |  | $ | 1,535.3 |

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