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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 157,900,000 $ 322,000,000.0 $ (126,900,000)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 192,800,000 155,800,000 39,500,000
Lease amortization expense 94,200,000 80,000,000.0 32,700,000
Amortization of debt discount and issuance costs 9,800,000 19,300,000 10,500,000
Impairment loss 5,500,000 0 174,300,000
Deferred taxes, net (31,000,000.0) 8,400,000 (12,500,000)
Share-based compensation 47,000,000.0 38,700,000 10,900,000
Gain on Topgolf investment 0 (252,500,000) 0
Gain on conversion of note receivable 0 0 (1,300,000)
Unrealized net losses on hedging instruments and foreign currency 17,500,000 300,000 2,800,000
Acquisition costs 0 (16,200,000) 0
Other 10,900,000 12,000,000.0 300,000
Change in assets and liabilities, net of effect from acquisitions:      
Accounts receivable, net (75,600,000) 38,200,000 10,000,000.0
Inventories (442,400,000) (177,500,000) 117,000,000.0
Leasing receivables (22,200,000) (22,900,000) 0
Other assets (20,700,000) (51,700,000) 19,800,000
Accounts payable and accrued expenses 110,400,000 96,800,000 (11,500,000)
Deferred revenue 800,000 24,900,000 1,300,000
Accrued employee compensation and benefits 7,600,000 53,800,000 (16,600,000)
Payments on operating leases (86,700,000) (57,400,000) (29,400,000)
Income taxes receivable/payable, net (11,400,000) 8,800,000 2,000,000.0
Other liabilities 500,000 (2,500,000) 5,300,000
Net cash (used in) provided by operating activities (35,100,000) 278,300,000 228,200,000
Cash flows from investing activities:      
Cash acquired in merger 0 171,300,000 0
Capital expenditures (532,300,000) (322,300,000) (39,200,000)
Investment in golf-related ventures 0 (30,000,000.0) (20,000,000.0)
Acquisition of intangible assets (3,200,000) 0 0
Proceeds from sale of investment in golf-related ventures 400,000 19,100,000 0
Net cash used in investing activities (535,100,000) (161,900,000) (59,200,000)
Cash flows from financing activities:      
Repayments of long-term debt (96,600,000) (200,700,000) (12,400,000)
Proceeds from borrowings on long-term debt 176,800,000 26,200,000 37,700,000
Proceeds from (repayments of) credit facilities, net 213,000,000.0 (13,100,000) (122,500,000)
Proceeds from issuance of convertible notes 0 0 258,800,000
Premium paid for capped call confirmations 0 0 (31,800,000)
Debt issuance cost (200,000) (5,400,000) (9,000,000.0)
Payment on contingent earn-out obligation (5,600,000) (3,600,000) 0
Repayments of financing leases (2,700,000) (800,000) (800,000)
Proceeds from lease financing 175,700,000 89,200,000 0
Exercise of stock options 700,000 22,300,000 200,000
Dividends paid 0 0 (1,900,000)
Acquisition of treasury stock (35,800,000) (38,200,000) (22,200,000)
Net cash provided by (used in) financing activities 425,300,000 (124,100,000) 96,100,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash (9,400,000) (700,000) (5,700,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (154,300,000) (8,400,000) 259,400,000
Cash, cash equivalents and restricted cash at beginning of period 357,700,000 366,100,000 106,700,000
Cash, cash equivalents and restricted cash at end of period 203,400,000 357,700,000 366,100,000
Less: restricted cash (23,200,000) (5,500,000) 0
Cash and cash equivalents at end of period 180,200,000 352,200,000 366,100,000
Supplemental disclosures:      
Cash paid for income taxes, net 28,100,000 9,400,000 3,100,000
Cash paid for interest and fees 111,100,000 88,600,000 34,400,000
Non-cash investing and financing activities:      
Issuance of treasury stock and common stock for compensatory stock awards released from restriction 29,000,000.0 18,500,000 19,800,000
Accrued capital expenditures 40,500,000 50,200,000 1,500,000
Financed additions of capital expenditures 163,200,000 107,100,000 0
Issuance of common stock in Topgolf merger 0 2,650,200,000 0
Issuance of common stock related to convertible notes $ 500,000 $ 0 $ 0