Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Our credit facilities and long-term debt obligations are summarized as follows (in millions):

	Maturity Date	Interest Rate	June 30, 2023		December 31, 2022
Short-Term Credit Facilities
U.S. Asset-Based Revolving Credit Facility(1)	March 16, 2028	4.92%	$	54.9	$	181.1
2022 Japan ABL Credit Facility	January 25, 2025	0.85%	41.6		38.2
Total Principal Amount			$	96.5	$	219.3
Unamortized Debt Issuance Costs			$	4.1	$	0.9
Balance Sheet Location
Asset-based credit facilities			$	96.5	$	219.3
Prepaid expenses			$	0.9	$	0.6
Other long-term assets			$	3.2	$	0.3
	Maturity Date	Interest Rate	June 30, 2023		December 31, 2022
Long-Term Debt and Credit Facilities
2023 Term Loan B	March 16, 2030	8.70%	$	1,246.9	$	—
Convertible Notes	May 1, 2026	2.75%	258.3		258.3
Equipment Notes	July 24, 2023 - December 27, 2027	2.36% - 5.93%	23.4		27.8
Mortgage Loans	July 1, 2033 - July 29, 2036	9.75% - 11.31%	45.5		45.9
Financed Tenant Improvements	February 1, 2035	8.00%	3.4		3.5
Term Loan B	—	8.88%	—		432.0
Topgolf Term Loan	—	10.58%	—		336.9
Topgolf Revolving Credit Facility	—	8.08%	—		110.0
Total Principal Amount			$	1,577.5	$	1,214.4
Less: Unamortized Debt Issuance Costs			34.0		24.3
Total Debt, net of Unamortized Debt Issuance Costs			$	1,543.5	$	1,190.1
Balance Sheet Location
Other current liabilities			$	18.1	$	13.8
Long-term debt			1,525.4		1,176.3
			$	1,543.5	$	1,190.1
(1) Weighted Average interest rate. Fluctuates depending on availability ratio.

Schedule of Interest Expense, Debt

Total interest and amortization expense related to our debt obligations and credit facilities, which is included in “Interest Expense, net” in the condensed consolidated statement of operations, is summarized as follows (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Short-Term Credit Facilities
U.S. Asset-Based Revolving Credit Facility	$	1.9	$	1.4	$	5.6	$	1.7
2022 Japan ABL Credit Facility	0.1		—		0.2		0.1
Total	$	2.0	$	1.4	$	5.8	$	1.8
Long-Term Debt and Credit Facilities
2023 Term Loan B	$	27.9	$	—	$	32.6	$	—
Convertible Notes	1.8		1.8		3.6		3.6
Equipment Notes	0.3		0.2		0.5		0.4
Mortgage Loans	1.1		1.2		2.3		2.4
Term Loan B	—		6.8		8.6		12.8
Topgolf Term Loan	—		6.7		7.8		12.7
Topgolf Revolving Credit Facility	—		1.3		2.7		1.7
Total (1)	$	31.1	$	18.0	$	58.1	$	33.6
(1) Excludes interest expense from DLF obligations and financing leases (see Note 3).

Schedule of Aggregate Amount of Maturities for Debt

The following table presents our combined aggregate amount of maturities for our long-term debt over the next five years and thereafter as of June 30, 2023. Amounts payable under the 2023 Term Loan B included below represent the minimum principal repayment obligations as of June 30, 2023.

	(in millions)
Remainder of 2023	$	10.7
2024	20.8
2025	18.6
2026	276.4
2027	15.5
Thereafter	1,235.5
	$	1,577.5
Less: Unamortized Debt Issuance Costs	34.0
Total	$	1,543.5