Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Segment Reporting Information, by Segment

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


	Three Months Ended March 31,
		2021		2020
Net revenues:
Golf Equipment		$	376,882	$	291,661
Apparel, Gear and Other		182,102		150,615
Topgolf(1)		92,637		—
Total net revenues		$	651,621	$	442,276

Income before income taxes:
Golf Equipment		$	84,921	$	58,620
Apparel, Gear and Other		20,490		(3,799)
Topgolf		3,954		—
Total segment operating income		109,365		54,821
Reconciling items(2)		210,839		(16,776)
Total income before income taxes		$	320,204	$	38,045

Additions to long-lived assets:(3)
Golf Equipment		$	6,425	$	16,962
Apparel, Gear and Other		5,066		10,124
Topgolf		26,118		—
Total additions to long-lived assets		$	37,609	$	27,086

(1)Revenue attributable to the Topgolf operating segment is for the period beginning March 8, 2021 (merger date) through April 4, 2021.

(2)Reconciling items represent the deduction of corporate general and administration expenses and other income (expenses), which are not utilized by management in determining segment profitability. Reconciling items for the three months ended March 31, 2021 also include transaction costs of $15,755,000 and $2,248,000 for non-cash amortization expense for intangible assets acquired in connection with the merger with Topgolf (See Note 6), in addition to a gain of $252,531,000 related to the fair value step-up on the Company's investment in Topgolf (see Note 10). Reconciling items for the three months ended March 31, 2020 included expenses related to the Company's transition to the new North America Distribution Center, in addition to other integration costs associated with Jack Wolfskin.

(3)Additions to long-lived assets are comprised of purchases of property, plant and equipment.