XML 33 R17.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Goodwill and Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Changes in the carrying amount of goodwill by operating and reportable segment are as follows (in millions):
|  | Topgolf |  | Golf Equipment |  | Active Lifestyle |  |  |  | Total
Balance at December 31, 2021 |  | $ | 1,340.7 |  |  | $ | 531.1 |  |  | $ | 88.3 |  |  |  |  |  | $ | 1,960.1 |
Acquisitions |  | 14.3 |  |  | 0.2 |  |  | 1.5 |  |  |  |  |  | 16.0 |
Foreign currency translation and other |  | 8.6 |  |  | (1.0) |  |  | — |  |  |  |  |  | 7.6 |
Balance at December 31, 2022 |  | $ | 1,363.6 |  |  | $ | 530.3 |  |  | $ | 89.8 |  |  |  |  |  | $ | 1,983.7 |
Acquisitions |  | 4.4 |  |  | — |  |  | — |  |  |  |  |  | 4.4 |
Foreign currency translation and other |  | — |  |  | 0.4 |  |  | 0.2 |  |  |  |  |  | 0.6 |
Balance at December 31, 2023 |  | $ | 1,368.0 |  |  | $ | 530.7 |  |  | $ | 90.0 |  |  |  |  |  | $ | 1,988.7 |
Additions to goodwill during the year ended December 31, 2023 are primarily related to the acquisition of BigShots, which is further described in Note 4. Additions to goodwill during the year ended December 31, 2022 are related to purchase accounting adjustments made during the first quarter of 2022 to finalize the fair value on certain leases assumed and deferred taxes associated with the merger with Topgolf. As of December 31, 2023, goodwill is presented net of accumulated impairment losses of $148.4 million, which were recorded prior to December 31, 2021 in the Active Lifestyle operating segment. The estimated fair values of our reporting units, trade names and trademarks, exceeded their carrying values for the years ended December 31, 2023 and 2022. As such, no impairment losses were recognized during these periods. Intangible assets by major asset class for the periods presented in the table below were (in millions, except useful life years):
| Indefinite-lived: |  | Amortizing: |  |
| Tradename and Trademarks |  | Liquor Licenses |  | Patents |  | Customer/ Distributor Relationships and Other |  | Developed Technology |  | Total
Useful Life (Years) | NA |  | NA |  | 2 - 16 |  | 1 - 10 |  | 10 |  |
Gross as of December 31, 2022 | $ | 1,441.0 |  |  | $ | 8.9 |  |  | $ | 32.2 |  |  | $ | 67.4 |  |  | $ | 69.7 |  |  | $ | 1,619.2 |
Acquisitions | 2.8 |  |  | 0.6 |  |  | 0.1 |  |  | 4.7 |  |  | — |  |  | 8.2 |
Gross as of December 31, 2023 | $ | 1,443.8 |  |  | $ | 9.5 |  |  | $ | 32.3 |  |  | $ | 72.1 |  |  | $ | 69.7 |  |  | $ | 1,627.4 |
Accumulated amortization | — |  |  | — |  |  | (31.9) |  |  | (43.1) |  |  | (18.9) |  |  | (93.9) |
Foreign currency translation and other | (22.0) |  |  | — |  |  | — |  |  | (3.5) |  |  | (2.5) |  |  | (28.0) |
Net book value, December 31, 2023 | $ | 1,421.8 |  |  | $ | 9.5 |  |  | $ | 0.4 |  |  | $ | 25.5 |  |  | $ | 48.3 |  |  | $ | 1,505.5 |
Gross as of December 31, 2021 | $ | 1,441.0 |  |  | $ | 7.7 |  |  | $ | 32.0 |  |  | $ | 61.7 |  |  | $ | 69.7 |  |  | $ | 1,612.1 |
Acquisitions | — |  |  | 1.2 |  |  | 0.2 |  |  | 5.7 |  |  | — |  |  | 7.1 |
Gross as of December 31, 2022 | $ | 1,441.0 |  |  | $ | 8.9 |  |  | $ | 32.2 |  |  | $ | 67.4 |  |  | $ | 69.7 |  |  | $ | 1,619.2 |
Accumulated amortization | — |  |  | — |  |  | (31.8) |  |  | (35.8) |  |  | (12.2) |  |  | (79.8) |
Foreign currency translation and other | (28.3) |  |  | — |  |  | — |  |  | (4.2) |  |  | (3.2) |  |  | (35.7) |
Net book value, December 31, 2022 | $ | 1,412.7 |  |  | $ | 8.9 |  |  | $ | 0.4 |  |  | $ | 27.4 |  |  | $ | 54.3 |  |  | $ | 1,503.7 |
There were no impairment losses recognized on our indefinite-lived intangible assets during the years ended December 31, 2023 and 2022. We recognized $14.1 million, $15.2 million, and $13.0 million of amortization expense related to intangible assets for the years ended December 31, 2023, 2022 and 2021, respectively, which is recorded in selling, general and administrative expenses in the consolidated statements of operations. As of December 31, 2023, amortization expense related to intangible assets in each of the next five fiscal years and beyond is expected to be as follows (in millions):
2024 | $ | 11.6 |
2025 | 11.5 |
2026 | 11.5 |
2027 | 11.2 |
2028 | 10.9 |
Thereafter | 17.5 |
Total | $ | 74.2 |

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

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration