Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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

			June 30,		December 31,
	Maturity Date	Interest Rate	2024		2023
Short-Term Credit Facilities
2023 U.S. ABL Credit Facility	March 16, 2028	5.15%	$	20.2	$	26.3
2022 Japan ABL Credit Facility	January 25, 2025	0.99%	24.9		28.4
Total Principal Amount			$	45.1	$	54.7
Unamortized Debt Issuance Costs			$	3.9	$	4.5
	Balance Sheet Location
Total Principal Amount	Asset-based credit facilities		$	45.1	$	54.7
Unamortized Debt Issuance Costs - ST	Prepaid expenses		$	1.1	$	1.1
Unamortized Debt Issuance Costs - LT	Other long-term assets		2.8		3.4
Total Unamortized Debt Issuance Costs			$	3.9	$	4.5
			June 30,		December 31,
	Maturity Date	Interest Rate	2024		2023
Long-Term Debt and Credit Facilities
2023 Term Loan B	March 16, 2030	8.34%	$	1,184.4	$	1,240.6
Convertible Notes	May 1, 2026	2.75%	258.3		258.3
Equipment Notes	August 27, 2024 - December 21, 2027	2.36% - 5.93%	15.0		19.2
Mortgage Loans	July 1, 2033 - July 29, 2036	9.75% - 11.31%	44.6		45.4
Financed Tenant Improvements	February 1, 2035	8.00%	3.2		3.3
Total Principal Amount			$	1,505.5	$	1,566.8
Less: Unamortized Debt Issuance Costs			24.7		31.5
Total Debt, net of Unamortized Debt Issuance Costs			$	1,480.8	$	1,535.3
	Balance Sheet Location
Long-Term Debt - Current	Other current liabilities		$	16.3	$	17.1
Long-Term Debt - Non-current	Long-term debt		1,464.5		1,518.2
Total Debt, net of Unamortized Debt Issuance Costs			$	1,480.8	$	1,535.3

Schedule of Interest Expense, Debt

Total interest and amortization expense related to our credit facilities and long-term debt obligations, 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,
	2024		2023		2024		2023
Short-Term Credit Facilities
2023 U.S. ABL Credit Facility	$	0.6	$	1.9	$	1.2	$	5.6
2022 Japan ABL Credit Facility	—		0.1		0.1		0.2
Total	$	0.6	$	2.0	$	1.3	$	5.8
Long-Term Debt and Credit Facilities
2023 Term Loan B	$	26.6	$	27.9	$	55.1	$	32.6
Convertible Notes	1.8		1.8		3.6		3.6
Equipment Notes	0.1		0.3		0.3		0.5
Financed Tenant Improvements	—		—		0.1		—
Mortgage Loans	1.1		1.1		2.3		2.3
Term Loan B	—		—		—		8.6
Topgolf Term Loan	—		—		—		7.8
Topgolf Revolving Credit Facility	—		—		—		2.7
Total	$	29.6	$	31.1	$	61.4	$	58.1

Schedule of Borrowings, Availability, Interest Rate and Liquidity for Short-term Credit Facilities

The following table summarizes borrowings for the six months ended June 30, 2024, availability and interest rates for the trailing twelve months ended June 30, 2024, and consolidated available liquidity related to our short-term credit facilities as of the six months ended June 30, 2024. Consolidated available liquidity is comprised of cash on hand and amounts available under our 2023 U.S. ABL Credit Facility and 2022 Japan ABL Credit Facility, less outstanding letters of credit and outstanding borrowings.

(in millions, except interest rates)	June 30, 2024
2023 U.S. ABL Credit Facility
Average borrowings	$	25.4
Average availability	$	411.4
Weighted average interest rate	5.34		%
2022 Japan ABL Credit Facility
Total facility	$	37.3
Net availability	$	12.4
Consolidated Available Liquidity	$	783.8

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, 2024.

	(in millions)
Remainder of 2024	$	9.8
2025	18.6
2026	276.4
2027	15.5
2028	13.7
Thereafter	1,171.5
Total aggregate amount of maturities	$	1,505.5
Less: Unamortized debt issuance costs	24.7
Total aggregate amount of maturities, net of unamortized debt issuance costs	$	1,480.8