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Segment Information (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Topgolf:
Service and product revenue$485.3 $494.4 $879.0 $917.2 
Less:
Cost of products and services, excluding depreciation and amortization52.2 53.6 93.3 98.0 
Other venue expense334.8 338.0 654.8 659.6 
Selling, general and administrative expense37.5 39.9 77.4 86.2 
Research and development expense3.6 4.0 7.6 8.4 
Venue pre-opening costs1.8 2.8 2.4 6.0 
Segment operating income$55.4 $56.1 $43.5 $59.0 
Golf Equipment:
Product revenue$411.6 $413.8 $855.3 $863.7 
Less:
Cost of products237.5 239.0 484.5 502.6 
Selling, general and administrative expense85.4 84.7 167.8 175.5 
Research and development expense12.4 12.7 25.1 26.1 
Segment operating income$76.3 $77.4 $177.9 $159.5 
Active Lifestyle:
Product revenue$213.6 $249.6 $468.5 $521.1 
Less:
Cost of products113.9 132.6 250.4 279.2 
Selling, general and administrative expense75.4 97.0 158.9 191.8 
Research and development expense3.8 5.3 8.1 10.7 
Segment operating income$20.5 $14.7 $51.1 $39.4 
Total segment operating income$152.2 $148.2 $272.5 $257.9 
Reconciling items:
Unallocated corporate expenses (1)
(46.4)(45.2)(100.2)(88.0)
Total operating income 105.8 103.0 172.3 169.9 
Interest expense, net(58.7)(57.0)(116.7)(115.8)
Other (expense) income, net (2)
(13.0)6.4 (9.9)9.8 
Total income before income taxes$34.1 $52.4 $45.7 $63.9 
Supplementary Data:
Depreciation and amortization:
Topgolf$54.2 $52.5 $109.2 $104.9 
Golf Equipment5.7 4.7 10.9 9.5 
Active Lifestyle7.9 8.6 16.8 16.8 
Total depreciation and amortization$67.8 $65.8 $136.9 $131.2 
(1) Unallocated corporate expenses include corporate general and administrative expenses not utilized by management in determining segment profitability, amortization of acquired intangible assets, restructuring and reorganization charges, other non-recurring losses and costs associated with the sale of the Jack Wolfskin business, our planned separation of Topgolf, debt modifications, the integration of new IT systems stemming from acquisitions, and non-recurring costs related to a cybersecurity incident. For the three months ended June 30, 2025 and 2024, $32.7 million and $29.3 million of corporate general and administrative expenses, respectively, were included in unallocated corporate expenses. For the six months ended June 30, 2025 and 2024, $67.8 million and $69.3 million of corporate general and administrative expenses, respectively, were included in unallocated corporate expenses.
(2) Includes portion of pre-tax loss associated with the sale of the Jack Wolfskin business.
Schedule of Revenue and Long Lived Assets by Geographical Areas Long-lived assets are based on location of domicile.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)
2025202420252024
Net Revenues:
United States$862.2 $891.3 $1,652.6 $1,720.3 
Europe105.3 114.1 235.4 255.5 
Asia99.8 109.1 228.6 236.7 
Rest of World43.2 43.3 86.2 89.5 
Total Net Revenues$1,110.5 $1,157.8 $2,202.8 $2,302.0 
June 30, 2025December 31, 2024
Long-Lived Assets:
United States$2,123.3 $2,112.5 
Europe87.5 84.9 
Asia9.9 16.4 
Rest of World6.2 5.2 
Total Long-Lived Assets$2,226.9 $2,219.0