XML 63 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Operating Segments
The table below contains information utilized by management to evaluate its operating segments for the interim periods presented (in thousands):
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2013
 
2012
 
2013
 
2012
Net sales:
 
 
 
 
 
 
 
Golf Clubs
$
152,610

 
$
121,286

 
$
603,599

 
$
595,123

Golf Balls
25,619

 
26,620

 
112,032

 
119,004

 
$
178,229

 
$
147,906

 
$
715,631

 
$
714,127

Income (loss) before income taxes:
 
 
 
 
 
 
 
Golf Clubs(1)
$
(4,410
)
 
$
(57,840
)
 
$
60,410

 
$
(7,247
)
Golf Balls(1)
(3,420
)
 
(13,789
)
 
3,474

 
(8,047
)
Reconciling items(2)
(12,286
)
 
(14,419
)
 
(28,365
)
 
(34,249
)
 
$
(20,116
)
 
$
(86,048
)
 
$
35,519

 
$
(49,543
)
Additions to long-lived assets:
 
 
 
 
 
 
 
Golf Clubs
$
4,236

 
$
2,242

 
$
10,669

 
$
14,956

Golf Balls
66

 
83

 
95

 
323

 
$
4,302

 
$
2,325

 
$
10,764

 
$
15,279

         
(1)
In connection with the Cost Reduction Initiatives (see Note 2), the Company’s golf clubs and golf balls segments recognized pre-tax charges of $990,000 and $454,000, respectively, during the three months ended September 30, 2013, and $23,603,000 and $9,317,000, respectively, during the three months ended September 30, 2012. The Company's golf clubs and golf balls segments recognized pre-tax charges of $4,261,000 and $4,682,000, respectively, during the nine months ended September 30, 2013, in connection with these initiatives, and $25,290,000 and $9,650,000, respectively, during the nine months ended September 30, 2012.
(2)
Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. During the three and nine months ended September 30, 2013, the reconciling items include pre-tax charges of $414,000 and $1,423,000, respectively, related to the Cost Reduction Initiatives. During the three and nine months ended September 30, 2012, the reconciling items include pre-tax charges of $2,164,000 and $4,815,000, respectively, in connection with these initiatives. In addition, reconciling items for the nine months ended September 30, 2012, include a pre-tax gain of $6,602,000 in connection with the sale of Top-Flite and Ben Hogan brands.