Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the preliminary purchase price allocation (in thousands):

	At March 8, 2021
Assets Acquired
Cash		$	171,294
Accounts receivable		10,678
Inventories		13,944
Other current assets		52,233
Property and equipment		1,080,349
Operating lease right-of-use assets		1,329,296
Investments		28,768
Other assets		33,664
Intangibles - trade name		994,200
Intangibles - technology, customer relationships and liquor licenses		81,929
Goodwill		1,340,663
Total assets acquired		5,137,018
Liabilities Assumed
Accounts payable and accrued liabilities		95,799
Accrued employee costs		37,092
Construction advances		40,491
Deferred revenue		66,196
Other current liabilities		7,829
Long-term debt		535,096
Deemed landlord financing		303,037
Operating lease liabilities		1,402,291
Other long-term liabilities		32,025
Deferred tax liabilities		131,532
Net assets acquired		$	2,485,630
Goodwill allocated to other business units		563,220
Total purchase price and consideration transferred in the merger		$	3,048,850

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands):

	At January 4, 2019
Assets Acquired
Cash	$	58,096
Accounts receivable	26,637
Inventories	94,504
Income tax receivable	6,588
Other current assets	11,483
Property and equipment	20,930
Operating lease right-of-use assets	120,865
Deferred tax assets	2,930
Other assets	23
Intangibles - trade name	239,295
Intangibles - retail partners & distributor relationships	38,743
Goodwill	150,180
Total assets acquired	770,274
Liabilities Assumed
Accounts payable and accrued liabilities	46,124
Income taxes payable, long-term	2,416
Operating lease liabilities	120,524
Deferred tax liabilities	80,009
Net assets acquired	$	521,201

Supplemental Pro Forma Information

The following table presents supplemental pro-forma information for the years ended December 31, 2021 and 2020 as if the merger with Topgolf had occurred on January 1, 2020. These amounts have been calculated after applying the Company's accounting policies and are based upon currently available information. For this analysis, the Company assumed that certain gains and costs associated with the merger were recognized as of January 1, 2020, including a gain of $252,531,000 recognized on the Company's pre-acquisition investment in Topgolf, acquisition costs of $28,914,000, the amortization of estimated intangible assets and other fair value adjustments, as well as the tax effect on those costs, and a valuation allowance on certain acquired net operating losses and tax credit carryforwards (see Note 14). Pre-acquisition net revenue and net income (loss) amounts for Topgolf were derived from the books and records of Topgolf prepared prior to the acquisition and are presented for informational purposes only and do not purport to be indicative of the results of future operations or of the results that would have occurred had the acquisition taken place as of the dates noted below.

	Years Ended December 31,
	2021		2020
	(in thousands)
Net revenues	$	3,276,391	$	2,305,654
Net income (loss)	$	72,340	$	(318,762)