Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

The table below contains information utilized by management to evaluate its operating segments for the interim periods presented (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014⁽¹⁾			2015			2014⁽¹⁾
Net sales:
Golf Clubs	$	189,616		$	192,931		$	430,772		$	492,469
Golf Balls	40,888			38,962			83,911			91,298
	$	230,504		$	231,893		$	514,683		$	583,767
Income before income taxes:
Golf Clubs	$	22,051		$	11,052		$	62,990		$	74,163
Golf Balls	6,639			5,451			14,047			16,806
Reconciling items⁽²⁾	(14,055		)	(11,261		)	(24,945		)	(28,941		)
	$	14,635		$	5,242		$	52,092		$	62,028
Additions to long-lived assets:
Golf Clubs	$	2,736		$	2,317		$	4,819		$	5,232
Golf Balls	745			—			1,311			101
	$	3,481		$	2,317		$	6,130		$	5,333

(1)

The prior year amounts have been reclassified to reflect the Company's current year allocation methodology related to freight revenue and costs, certain discounts and other reserves not specific to a product type. For the three months ended June 30, 2014, this resulted in decreases to net sales and income before income taxes of $228,000 in the golf clubs segment, and corresponding increases to net sales and income before income taxes in the golf balls segment. For the six months ended June 30, 2014, this resulted in increases to net sales and income before income taxes of $146,000 in the golf clubs segment, and corresponding decreases to net sales and income before income taxes in the golf balls segment.

(2)

Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. The increase in reconciling items during the three months ended June 30, 2015 compared to the three months ended June 30, 2014 was primarily due to an increase in employee costs, partially offset by a decrease in foreign currency exchange losses. The decrease in reconciling items during the six months ended June 30, 2015 compared to the six months ended June 30, 2014 was primarily due to an increase in foreign currency exchange gains.