Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table contains information utilized by the CODM to evaluate our operating segments for the periods presented below (in millions):

	Three Months Ended March 31,
	2025			2024
Topgolf:
Service and product revenue	$	393.7		$	422.8
Less:
Cost of products and services, excluding depreciation and amortization	41.1			44.4
Other venue expense	320.0			321.6
Selling, general and administrative expense	39.9			46.3
Research and development expense	4.0			4.4
Venue pre-opening costs	0.6			3.2
Segment operating (loss) income	$	(11.9)		$	2.9
Golf Equipment:
Product revenue	$	443.7		$	449.9
Less:
Cost of products	247.0			263.6
Selling, general and administrative expense	82.4			90.8
Research and development expense	12.7			13.4
Segment operating income	$	101.6		$	82.1
Active Lifestyle:
Product revenue	$	254.9		$	271.5
Less:
Cost of products	136.5		—	146.6
Selling, general and administrative expense	83.5			94.8
Research and development expense	4.3			5.4
Segment operating income	$	30.6		$	24.7
Total segment operating income	$	120.3		$	109.7
Reconciling items:
Unallocated other corporate expenses (1)	(53.8)			(42.8)
Total operating income	66.5			66.9
Interest expense, net	(58.0)			(58.8)
Other income, net	3.1			3.4
Total income before income taxes	$	11.6		$	11.5
Supplementary Data:
Depreciation and amortization:
Topgolf	$	55.0		$	52.4
Golf Equipment	5.2			4.8
Active Lifestyle	8.9			8.2
Total depreciation and amortization	$	69.1		$	65.4
(1) Unallocated other corporate expenses include corporate general and administrative expenses not utilized by management in determining segment profitability, including the amortization of acquired intangible assets, restructuring and reorganization charges, and other non-recurring costs associated with our planned separation of Topgolf, the sale of the Jack Wolfskin business, debt modifications, the integration of new IT systems stemming from acquisitions, and cybersecurity costs.

Schedule of Revenue and Long Lived Assets by Geographical Areas

Long-lived assets are based on location of domicile.

	Three Months Ended March 31,
	2025		2024
	(in millions)
Net Revenues:
United States	$	790.4	$	829.0
Europe	130.1		141.4
Asia	128.8		127.6
Rest of World	43.0		46.2
Total Net Revenues	$	1,092.3	$	1,144.2
	March 31, 2025		December 31, 2024
	(in millions)
Long-Lived Assets:
United States	$	2,108.4	$	2,112.5
Europe	82.2		84.9
Asia	10.2		16.4
Rest of World	5.9		5.2
Total Long-Lived Assets	$	2,206.7	$	2,219.0