XML 111 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments
6 Months Ended
Jun. 30, 2013
Investments, All Other Investments [Abstract]  
Investments
Investments
Investment in TopGolf International, Inc.
The Company owns preferred shares of TopGolf International, Inc. (“TopGolf”), the owner and operator of TopGolf entertainment centers. In May 2013, the Company invested an additional $1,480,000 in preferred shares of TopGolf, thereby increasing the Company's total investment as of June 30, 2013 to $25,447,000. In connection with this investment, the Company has a preferred partner agreement with TopGolf in which the Company has preferred signage rights, rights as the preferred supplier of golf products used or offered for use at TopGolf facilities at prices no less than those paid by the Company’s customers, preferred retail positioning in the TopGolf retail stores, access to consumer information obtained by TopGolf, and other rights incidental to those listed.
The Company’s ownership interest in TopGolf is less than 20%. In addition, the Company does not have the ability to significantly influence the operating and financing activities and policies of TopGolf. Accordingly, the Company’s investment in TopGolf is accounted for at cost in accordance with ASC Topic 325, “Investments—Other,” and is included in other assets in the accompanying consolidated condensed balance sheets as of June 30, 2013 and December 31, 2012.