XML 43 R30.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue The following table presents our revenue disaggregated by operating and reportable segment and major category for the periods presented (in millions):
Three Months Ended March 31,
20242023
Topgolf:
Venues$405.7 $386.7 
Other business lines17.1 16.8 
Total Topgolf422.8 403.5 
Golf Equipment:
Golf clubs$345.9 $350.8 
Golf balls104.0 92.9 
Total Golf Equipment449.9 443.7 
Active Lifestyle:
Apparel$159.6 $176.1 
Gear, accessories & other111.9 144.1 
Total Active Lifestyle271.5 320.2 
Total Consolidated$1,144.2 $1,167.4 
The following table summarizes our revenue by major geographic region for the periods presented (in millions):
Three Months Ended March 31,
20242023
Revenue by Major Geographic Region:
United States$829.0 $811.1 
Europe141.4 153.6 
Asia127.6 160.2 
Rest of world46.2 42.5 
Total Consolidated$1,144.2 $1,167.4 
The following table summarizes these revenues by operating segment for the periods presented (in millions):
Three Months Ended March 31,
20242023
Topgolf$12.7 $12.1 
Active Lifestyle6.1 6.7 
Total$18.8 $18.8 
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 March 31,
20242023
Beginning Balance$110.9 $94.9 
Deferral of revenue146.0 157.8 
Revenue recognized(138.7)(142.8)
Breakage(11.4)(7.0)
Foreign currency translation and other(0.1)(0.1)
Ending Balance$106.7 $102.8 
The following table summarizes the amount of the deferred revenue recognized during the periods presented which were included in the deferred revenue balances as of the end of the prior year reporting period (in millions):
Three Months Ended March 31,
20242023
Deferred revenue recognized from prior year ending balance$33.4 $29.5 
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 March 31,
20242023
Beginning Balance$16.5 $20.8 
Additions 16.4 15.5 
Credits issued (10.0)(10.7)
Foreign currency translation and other(0.3)(0.1)
Ending Balance$22.6 $25.5 
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 March 31,
20242023
Beginning Balance$55.9 $55.4 
Provision65.6 58.9 
Sales returns(42.6)(41.6)
Ending Balance$78.9 $72.7