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Stock Plans and Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Shares Authorized, Available for Future Grant and Outstanding Under Each Plans

The following table summarizes shares authorized, available for future grant and outstanding under each of our plans as of December 31, 2024 (in millions):

			Authorized						Available(1)						Outstanding
2004 Incentive Plan			33.0						—						1.0
2022 Incentive Plan			16.0						9.8						2.9
Topgolf Equity Compensation Plans and Option Agreement			3.4						—						0.6
Total			52.4						9.8						4.5
(1) Includes shares subject to a full award value under the 2022 Incentive Plan’s fungible share ratio. PRSUs are counted against the share reserve based on “max” level of performance and may vest up to 200% of the “target” number of units (150% with respect to certain units granted in connection with the Topgolf merger), depending on the year granted and the terms of such awards.

Schedule of Stock Option Activities

The following table summarizes our stock option activities for the year ended December 31, 2024 (in millions, except per share amounts and contractual term):

Options						Number of Shares						Weighted- Average Exercise Price Per Share						Weighted- Average Remaining Contractual Term						Aggregate Intrinsic Value
Outstanding at January 1, 2024						1.1						$	28.44
Exercised(1)						—						$	7.23
Expired						(0.5)						$	27.48
Outstanding at December 31, 2024						0.6						$	29.44					3.4						$	—
Vested and expected to vest in the future at December 31, 2024						0.6						$	29.44					3.4						$	—
Exercisable at December 31, 2024						0.6						$	29.44					3.4						$	—
(1) A nominal number of stock options were exercised during the year ended December 31, 2024.

Schedule of Intrinsic Value and Cash Received for Option Exercises

The following table summarizes information related to intrinsic value and cash received related to option exercises for the periods presented below (in millions):

			Year Ended December 31,
			2024						2023						2022
Intrinsic value for options exercised(1)			$	—					$	1.7					$	0.6
Cash received from exercise of options			$	0.1					$	4.2					$	0.7
(1) Intrinsic value for options exercised was nominal during the year ended December 31, 2024.

Schedule of Roll-Forward of Activity for Restricted Stock Units

The following table summarizes activity for restricted stock units, restricted stock awards, and performance-based awards for the year ended December 31, 2024 (in millions, except fair value amounts):

						RSUs												RSAs												PRSUs
						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2024						1.4						$	24.13					0.8						$	19.83					2.3						$	32.71
Granted						1.3						$	13.25					—						$	—					1.0						$	19.01
Vested (1)						(0.8)						$	23.36					—						$	29.52					(1.4)						$	29.80
Target Award Adjustment (2)						—						$	—					—						$	—					0.6						$	29.40
Forfeited						(0.2)						$	18.48					(0.8)						$	19.60					(0.2)						$	32.40
Unvested at December 31, 2024						1.7						$	16.81					—						$	—					2.3						$	27.85
(1) A nominal number of RSAs vested during the year ended December 31, 2024.
(2) Represents incremental shares earned by participants at a performance achievement in excess of 100% for awards previously granted.

Schedule of Roll-Forward of Activity for Restricted Stock

The following table summarizes activity for restricted stock units, restricted stock awards, and performance-based awards for the year ended December 31, 2024 (in millions, except fair value amounts):

						RSUs												RSAs												PRSUs
						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2024						1.4						$	24.13					0.8						$	19.83					2.3						$	32.71
Granted						1.3						$	13.25					—						$	—					1.0						$	19.01
Vested (1)						(0.8)						$	23.36					—						$	29.52					(1.4)						$	29.80
Target Award Adjustment (2)						—						$	—					—						$	—					0.6						$	29.40
Forfeited						(0.2)						$	18.48					(0.8)						$	19.60					(0.2)						$	32.40
Unvested at December 31, 2024						1.7						$	16.81					—						$	—					2.3						$	27.85
(1) A nominal number of RSAs vested during the year ended December 31, 2024.
(2) Represents incremental shares earned by participants at a performance achievement in excess of 100% for awards previously granted.

Schedule of Roll-Forward of Activity for Performance Shares

The following table summarizes activity for restricted stock units, restricted stock awards, and performance-based awards for the year ended December 31, 2024 (in millions, except fair value amounts):

						RSUs												RSAs												PRSUs
						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value						Units						Weighted- Average Grant-Date Fair Value
Unvested at January 1, 2024						1.4						$	24.13					0.8						$	19.83					2.3						$	32.71
Granted						1.3						$	13.25					—						$	—					1.0						$	19.01
Vested (1)						(0.8)						$	23.36					—						$	29.52					(1.4)						$	29.80
Target Award Adjustment (2)						—						$	—					—						$	—					0.6						$	29.40
Forfeited						(0.2)						$	18.48					(0.8)						$	19.60					(0.2)						$	32.40
Unvested at December 31, 2024						1.7						$	16.81					—						$	—					2.3						$	27.85
(1) A nominal number of RSAs vested during the year ended December 31, 2024.
(2) Represents incremental shares earned by participants at a performance achievement in excess of 100% for awards previously granted.

Schedule of Fair Value of Awards Vested and Weighted Average Grant Date Fair Value per Share

The following table summarizes fair value of awards vested and the weighted-average grant date fair value per share of awards granted during the periods presented below (in millions, except for per share amounts):

			Years Ended December 31,
			2024						2023						2022
RSUs:
Total fair value of RSUs vested			$	19.1					$	17.3					$	17.2
Per share weighted-average grant date fair value of RSU grants			$	13.25					$	22.78					$	22.81
RSAs:
Total fair value of RSAs vested			$	0.5					$	1.3					$	2.1
Per share weighted-average grant date fair value of RSA grants(1)			$	—					$	19.60					$	—
PRSUs:
Total fair value of PRSUs vested			$	40.8					$	7.8					$	6.9
Per share weighted-average grant date fair value of PRSU grants			$	19.01					$	36.58					$	34.68
(1) There were no RSAs granted during the years ended December 31, 2024 and December 31, 2022.

Schedule of Share-Based Payment Arrangement, Nonvested Award, Cost Not Yet Recognized

The following table summarizes unamortized compensation expense, net of estimated forfeitures, and the weighted-average remaining recognition period of awards granted under our share-based compensation plans as of December 31, 2024 (in millions, except for periods):

			December 31, 2024
RSUs:
Unamortized compensation expense for RSUs			$	14.7
Weighted-average remaining recognition period (in years)			1.7
PRSUs:
Unamortized compensation expense for PRSUs			$	19.0
Weighted-average remaining recognition period (in years)			1.2

Schedule of Share-Based Compensation Including Expense for Phantom Stock Units and Cash Settled Stock Appreciation Rights Granted to Employees

The table below summarizes amounts recognized for share-based compensation by award-type, net of estimated forfeitures, in our consolidated statement of operations for the periods presented (in millions):

			Years Ended December 31,
			2024						2023						2022
Stock options			$	—					$	0.4					$	1.4
Restricted stock units			15.1						18.9						17.6
Restricted stock awards			—						0.6						1.3
Performance based restricted share unit awards			21.9						26.8						26.7
Cash-settled restricted stock			1.1						—						—
Total share-based compensation expense, before tax			38.1						46.7						47.0
Income tax benefit			(9.1)						(11.2)						(11.3)
Total share-based compensation expense, after tax			$	29.0					$	35.5					$	35.7

The table below summarizes amounts recognized for share-based compensation, net of estimated forfeitures, in our consolidated statement of operations for the periods presented (in millions):

			Years Ended December 31,
			2024						2023						2022
Cost of products			$	1.6					$	1.9					$	1.6
Selling, general and administrative expenses			33.7						39.8						44.0
Research and development expenses			0.7						1.6						1.1
Other venue expenses			2.1						3.4						0.3
Share-based compensation expense, before tax			38.1						46.7						47.0
Income tax benefit			(9.1)						(11.2)						(11.3)
Share-based compensation expense, after tax			$	29.0					$	35.5					$	35.7

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