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v3.26.1

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Segment Reporting | The following table contains information utilized by our CODM to evaluate our operating segments for the periods presented below (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Golf Equipment: |  |  |  |  |  |  |
Net sales | $ | 430.3 |  |  | $ | 411.8 |  |  | $ | 916.5 |  |  | $ | 855.7 |
Less: Cost of sales | 227.9 |  |  | 237.7 |  |  | 493.3 |  |  | 484.8 |
Gross profit | 202.4 |  |  | 174.1 |  |  | 423.2 |  |  | 370.9 |
Less: Selling, general and administrative expense | 89.4 |  |  | 85.5 |  |  | 180.4 |  |  | 167.8 |
Less: Research and development expense | 12.7 |  |  | 12.4 |  |  | 24.9 |  |  | 25.1 |
Income before income taxes | $ | 100.3 |  |  | $ | 76.2 |  |  | $ | 217.9 |  |  | $ | 178.0 |
Apparel, Gear and Other: |  |  |  |  |  |  |
Net sales | $ | 181.9 |  |  | $ | 188.6 |  |  | $ | 383.2 |  |  | $ | 374.3 |
Less: Cost of sales | 87.3 |  |  | 98.9 |  |  | 181.6 |  |  | 197.0 |
Gross profit | 94.6 |  |  | 89.7 |  |  | 201.6 |  |  | 177.3 |
Less: Selling, general and administrative expense | 58.1 |  |  | 57.5 |  |  | 110.1 |  |  | 106.5 |
Less: Research and development expense | 3.1 |  |  | 2.9 |  |  | 6.1 |  |  | 6.1 |
Income before income taxes | $ | 33.4 |  |  | $ | 29.3 |  |  | $ | 85.4 |  |  | $ | 64.7 |
Segment income from continuing operations | $ | 133.7 |  |  | $ | 105.5 |  |  | $ | 303.3 |  |  | $ | 242.7 |
Reconciling items: |  |  |  |  |  |  |
Non-recurring items (1) | 7.5 |  |  | (0.9) |  |  | 3.5 |  |  | (2.2) |
Corporate costs and expenses (2) | (26.4) |  |  | (30.3) |  |  | (53.8) |  |  | (63.1) |
Total reconciling items: | (18.9) |  |  | (31.2) |  |  | (50.3) |  |  | (65.3) |
Income (loss) from operations | 114.8 |  |  | 74.3 |  |  | 253.0 |  |  | 177.4 |
Interest income (expense), net | (4.6) |  |  | (15.3) |  |  | (10.4) |  |  | (30.2) |
Other income (expense), net | 1.4 |  |  | (0.4) |  |  | 4.3 |  |  | 2.0 |
Total other income (expense), net | (3.2) |  |  | (15.7) |  |  | (6.1) |  |  | (28.2) |
Income (loss) from equity method investments | (1.0) |  |  | — |  |  | (28.7) |  |  | — |
Income (loss) from continuing operations, before income taxes | $ | 110.6 |  |  | $ | 58.6 |  |  | $ | 218.2 |  |  | $ | 149.2 |
(1) Includes non-cash amortization of acquired intangible assets and non-recurring items primarily consisting of tariff refunds, costs related to a relocation to a new warehouse in the United Kingdom as a result of the sale of the Jack Wolfskin business, restructuring and reorganization charges relating to the Transformation Plan (see Note 18), and the write-off of software assets stemming from our separation from Topgolf.
(2) Corporate costs and expenses include corporate general and administrative expenses not utilized by management in determining segment profitability as well as adjustments for discontinued operations related to indirect costs that were previously allocated to a segment.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Depreciation and amortization: |  |  |  |  |  |  |
Golf Equipment | $ | 5.5 |  |  | $ | 6.3 |  |  | $ | 11.7 |  |  | $ | 13.2 |
Apparel, Gear and Other | 4.0 |  |  | 4.9 |  |  | 8.6 |  |  | 9.7 |
Total depreciation and amortization | $ | 9.5 |  |  | $ | 11.2 |  |  | $ | 20.3 |  |  | $ | 22.9 |
Schedule of Revenue and Long Lived Assets by Geographical Areas | Long-lived assets are based on location of domicile.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2026 |  | 2025 |  | 2026 |  | 2025
Net sales: |  |  |  |  |  |  |
United States | $ | 414.7 |  |  | $ | 401.1 |  |  | $ | 863.5 |  |  | $ | 817.2 |
Europe | 64.8 |  |  | 64.6 |  |  | 148.0 |  |  | 128.9 |
Asia | 90.3 |  |  | 91.9 |  |  | 193.9 |  |  | 198.7 |
Rest of World | 42.4 |  |  | 42.8 |  |  | 94.3 |  |  | 85.2 |
Total net sales | $ | 612.2 |  |  | $ | 600.4 |  |  | $ | 1,299.7 |  |  | $ | 1,230.0 |
| June 30, 2026 |  | December 31, 2025
Long-lived assets |  |  |
United States | $ | 129.0 |  |  | $ | 136.4 |
Europe | 9.6 |  |  | 4.2 |
Asia | 11.2 |  |  | 12.9 |
Rest of World | 5.9 |  |  | 6.0 |
Total long-lived assets | $ | 155.7 |  |  | $ | 159.5 |

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- Definition Tabular disclosure of revenue attributed to and long-lived asset located in country of domicile and foreign country from which revenue is derived and in which asset is held, if it is not provided as part of reportable segment information. Long-lived asset excludes financial instrument, long-term customer relationship of financial institution, mortgage and other servicing rights, deferred policy acquisition cost, and deferred tax asset. Includes, but is not limited to, subtotal of geographical information about group of countries. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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