CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 67,619	$ 49,801
Accounts receivable, net	205,058	115,607
Inventories	151,446	208,883
Income taxes receivable	2,382	487
Other current assets	12,670	16,709
Total current assets	439,175	391,487
Property, plant and equipment, net	53,399	55,808
Intangible assets, net	88,757	88,782
Goodwill	26,306	26,500
Deferred taxes, net	7,255	6,962
Investment in golf-related ventures (Note 6)	49,108	53,315
Other assets	8,525	8,370
Total assets	672,525	631,224
Current liabilities:
Accounts payable and accrued expenses	106,482	122,620
Accrued employee compensation and benefits	25,433	33,518
Asset-based credit facilities	5,331	14,969
Accrued warranty expense	6,172	5,706
Income tax liability	3,769	1,823
Total current liabilities	147,187	178,636
Long-term liabilities:
Income tax payable	3,325	3,476
Deferred taxes, net	34,824	35,093
Long-term incentive compensation and other	882	1,074
Commitments and contingencies (Note 9)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized, none issued and outstanding at June 30, 2016 and December 31, 2015	0	0
Common stock, $0.01 par value, 240,000,000 shares authorized, 94,214,295 and 93,769,199 shares issued at June 30, 2016 and December 31, 2015, respectively	942	938
Additional paid-in capital	325,805	322,793
Retained earnings	171,607	101,047
Accumulated other comprehensive loss	(10,356)	(11,813)
Less: Common stock held in treasury, at cost, 183,401 and 2,075 shares at June 30, 2016 and December 31, 2015, respectively	(1,691)	(20)
Total shareholders’ equity	486,307	412,945
Total liabilities and shareholders’ equity	$ 672,525	$ 631,224

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.