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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ (126,934) $ 79,229 $ 105,254
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 39,508 34,951 19,948
Lease amortization expense 32,730 30,893 0
Amortization of debt issuance costs 4,200 3,262 0
Debt discount amortization 6,331 0 0
Inventory step-up on acquisition 0 10,885 0
Impairment loss 174,269 0 0
Deferred taxes, net (12,507) (1,381) 21,705
Non-cash share-based compensation 10,927 12,896 13,530
Loss (gain) on disposal of long-lived assets 336 218 (13)
Gain on conversion of note receivable (1,252) 0 0
Unrealized net losses (gains) on hedging instruments and foreign currency 2,750 3,642 (4,585)
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net 9,950 (44,476) (2,109)
Inventories 116,963 (33,952) (78,017)
Other assets 19,751 (12,124) (9,975)
Accounts payable and accrued expenses (9,899) 34,908 22,268
Accrued employee compensation and benefits (16,558) (2,460) 3,148
Accrued warranty expense (272) (144) 953
Change in operating leases, net (29,372) (29,874) 0
Income taxes receivable/payable, net 1,979 1,414 82
Other liabilities 5,338 (1,337) 93
Net cash provided by operating activities 228,238 86,550 92,282
Cash flows from investing activities:      
Capital expenditures (39,262) (54,702) (36,825)
Investment in golf-related ventures (19,999) (17,897) (1,743)
Acquisitions, net of cash acquired 0 (463,105) 0
Proceeds from sales of property and equipment 49 38 43
Net cash used in investing activities (59,212) (535,666) (38,525)
Cash flows from financing activities:      
Proceeds from issuance of convertible notes 258,750 0 0
Proceeds from issuance of long-term debt 37,728 493,167 0
Premium paid for capped call confirmations (31,775) 0 0
Debt issuance cost 9,102 19,091 0
(Repayments of) proceeds from credit facilities, net (122,450) 105,850 (47,455)
Repayments of long-term debt (12,437) (36,685) (2,186)
Repayments of financing leases (792) (706) 0
Exercise of stock options 248 368 1,636
Dividends paid (1,891) (3,776) (3,788)
Acquisition of treasury stock (22,213) (28,073) (22,456)
Distributions to non-controlling interest 0 0 (821)
Purchase of non-controlling interest 0 (18,538) 0
Net cash provided by (used in) financing activities 96,066 492,516 (75,070)
Effect of exchange rate changes on cash and cash equivalents (5,639) (715) (380)
Net increase (decrease) in cash and cash equivalents 259,453 42,685 (21,693)
Cash and cash equivalents at beginning of year 106,666 63,981 85,674
Cash and cash equivalents at end of year 366,119 106,666 63,981
Supplemental disclosures:      
Cash paid for interest and fees 34,359 32,875 4,990
Cash paid for income taxes, net 3,061 9,520 9,564
Noncash investing and financing activities:      
Accrued capital expenditures at period-end 1,497 3,128 2,672
Issuance of treasury stock and common stock for compensatory stock awards released from restriction $ 19,762 $ 20,656 $ 5,744