Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill by operating and reportable segment are as follows (in thousands):


	Topgolf		Golf Equipment		Apparel, Gear and Other		Total
Balance at December 31, 2020	$	—	$	27,025	$	29,633		$	56,658
Acquisitions	1,340,663		504,568		58,652			1,903,883
Impairments	—		—		—			—
Foreign currency translation	—		(471)		—			(471)
Balance at December 31, 2021	$	1,340,663	$	531,122	$	88,285		$	1,960,070

Intangible Assets by Major Asset Class

The following sets forth the intangible assets by major asset class (dollars in thousands):


	Useful Life (Years)	December 31, 2021
		Gross(1)		Accumulated Amortization		Translation Adjustment		Net Book Value
Indefinite-lived:
Trade name, trademark, trade dress and other	NA	$	1,441,003	$	—	$	(15,820)	$	1,425,183
Liquor licenses	NA	7,756		—		—		7,756
Amortizing:
Patents	2-16	32,041		(31,671)		—		370
Customer and distributor relationships and other	1-10	61,718		(27,405)		(2,335)		31,978
Developed technology	10	69,651		(5,496)		(804)		63,351
Total intangible assets		$	1,612,169	$	(64,572)	$	(18,959)	$	1,528,638


	Useful Life (Years)	December 31, 2020
		Gross		Accumulated Amortization		Net Book Value
Indefinite-lived:
Trade name, trademark, trade dress and other	NA	$	446,803	$	—		$	446,803

Amortizing:
Patents	2-16	31,581		(31,581)			—
Customer and distributor relationships and other	1-10	57,309		(19,773)			37,536

Total intangible assets		$	535,693	(51,354)			$	484,339

____________

(1)The gross balance of intangible assets as of December 31, 2021 includes additions of $1,001,956 and $74,179 in indefinite-lived and amortizing intangible assets, respectively, related to the Topgolf merger that was completed on March 8, 2021.

Amortization Expense Related to Intangible Assets

Amortization expense related to intangible assets at December 31, 2021 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands):


2022	$	13,263
2023	11,695
2024	11,606
2025	11,394
2026	11,348
Thereafter	36,393
	$	95,699