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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
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, 2023 |  | $ | 1,368.0 |  |  | $ | 530.7 |  |  | $ | 90.0 |  |  |  |  |  | $ | 1,988.7 |
Acquisitions |  | 4.3 |  |  | — |  |  | — |  |  |  |  |  | 4.3 |
Foreign currency translation and other |  | 5.9 |  |  | 0.2 |  |  | — |  |  |  |  |  | 6.1 |
Balance at September 30, 2024 |  | $ | 1,378.2 |  |  | $ | 530.9 |  |  | $ | 90.0 |  |  |  |  |  | $ | 1,999.1 |
Goodwill is net of accumulated impairment losses of $148.4 million, which were recorded prior to December 31, 2023 in the Active Lifestyle segment. Intangible assets by major asset class are as follows (in millions, except useful life amounts):
| Indefinite-lived: |  | Amortizing: |  |  |  |
| Trade names 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, 2023 | $ | 1,443.8 |  |  | $ | 9.5 |  |  | $ | 32.3 |  |  | $ | 72.1 |  |  | $ | 69.7 |  |  | $ | 1,627.4 |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions | 3.1 |  |  | 1.2 |  |  | 0.2 |  |  | 3.3 |  |  | — |  |  | 7.8 |  |  |  |  |  |  |  |  |  |  |  |  |
Other | (5.9) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5.9) |  |  |  |  |  |  |  |  |  |  |  |  |
Gross as of September 30, 2024 | $ | 1,441.0 |  |  | $ | 10.7 |  |  | $ | 32.5 |  |  | $ | 75.4 |  |  | $ | 69.7 |  |  | $ | 1,629.3 |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated amortization | — |  |  | — |  |  | (32.0) |  |  | (46.8) |  |  | (23.9) |  |  | (102.7) |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency and other | (20.2) |  |  | — |  |  | — |  |  | (3.4) |  |  | (2.3) |  |  | (25.9) |  |  |  |  |  |  |  |  |  |  |  |  |
Net book value, September 30, 2024 | $ | 1,420.8 |  |  | $ | 10.7 |  |  | $ | 0.5 |  |  | $ | 25.2 |  |  | $ | 43.5 |  |  | $ | 1,500.7 |  |  |  |  |  |  |  |  |  |  |  |  |
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 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 |  |  |  |  |  |  |  |  |  |  |  |  |
For the three months ended September 30, 2024 and 2023, we recognized amortization expense related to acquired intangible assets of $2.9 million and $2.8 million, respectively. For the nine months ended September 30, 2024 and 2023, we recognized amortization expense related to acquired intangible assets of $8.8 million and $11.2 million, respectively. Amortization expense is included in selling, general and administrative expenses in the condensed consolidated statements of operations. As of September 30, 2024, intangible asset amortization expense is expected to be incurred for the periods presented as follows (in millions):
Remainder of 2024 | $ | 3.0 |
2025 | 11.8 |
2026 | 11.8 |
2027 | 11.4 |
2028 | 11.0 |
Thereafter | 18.8 |
Total | $ | 67.8 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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