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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 79,229,000 $ 105,254,000 $ 41,667,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 34,951,000 19,948,000 17,605,000
Lease, Amortization 30,893,000 0 0
Amortization of Debt Discount (Premium) 3,262,000 0 0
Inventory step-up amortization from acquisitions 10,885,000 0 3,112,000
Deferred taxes (1,381,000) 21,705,000 24,594,000
Non-cash share-based compensation 12,896,000 13,530,000 12,647,000
Loss (gain) on disposal of long-lived assets 218,000 (13,000) 1,490,000
Unrealized foreign currency loss (gain) 3,642,000 (4,585,000) 1,023,000
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net (44,476,000) (2,109,000) 51,618,000
Inventories (33,952,000) (78,017,000) (52,010,000)
Other assets (12,124,000) (9,975,000) (6,533,000)
Accounts payable and accrued expenses 34,908,000 22,268,000 15,414,000
Accrued employee compensation and benefits (2,460,000) 3,148,000 7,021,000
Accrued warranty expense (144,000) 953,000 1,262,000
Operating and financing leases (29,874,000) 0 0
Income taxes receivable/payable, net 1,414,000 82,000 (2,155,000)
Other liabilities (1,337,000) 93,000 944,000
Net cash provided by operating activities 86,550,000 92,282,000 117,699,000
Cash flows from investing activities:      
Capital expenditures (54,702,000) (36,825,000) (26,203,000)
Investment in golf-related ventures (17,897,000) (1,743,000) (21,499,000)
Payments to Acquire Businesses, Net of Cash Acquired (463,105,000) 0 (183,478,000)
Proceeds from sales of property and equipment 38,000 43,000 587,000
Net cash used in investing activities (535,666,000) (38,525,000) (230,593,000)
Cash flows from financing activities:      
Proceeds from (repayments of) credit facilities, net 105,850,000 (47,455,000) 75,789,000
Proceeds from issuance of long-term debt 493,167,000 0 11,815,000
Repayments of long-term debt (36,685,000) (2,186,000) 0
Finance Lease, Principal Payments (706,000) 0 0
Payments of Debt Issuance Costs 19,091,000 0 2,246,000
Exercise of stock options 368,000 1,636,000 5,362,000
Dividends paid, net (3,776,000) (3,788,000) (3,773,000)
Acquisition of treasury stock (28,073,000) (22,456,000) (16,617,000)
Distributions to non-controlling interest 0 (821,000) (974,000)
Payments to Acquire Interest in Joint Venture (18,538,000) 0 0
Net cash provided by (used in) financing activities 492,516,000 (75,070,000) 69,356,000
Effect of exchange rate changes on cash and cash equivalents (715,000) (380,000) 3,237,000
Net increase (decrease) in cash and cash equivalents 42,685,000 (21,693,000) (40,301,000)
Cash and cash equivalents at beginning of year 63,981,000 85,674,000 125,975,000
Cash and cash equivalents at end of year 106,666,000 63,981,000 85,674,000
Supplemental disclosures:      
Cash paid for interest and fees 32,875,000 4,990,000 4,594,000
Cash paid for income taxes, net 9,520,000 9,564,000 10,788,000
Noncash investing and financing activities:      
Accrued capital expenditures at period-end 3,128,000 2,672,000 2,007,000
Issuance of treasury stock and common stock for compensatory stock awards released from restriction $ 20,656,000 $ 5,744,000 $ 5,813,000