Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Information by Reportable Segment and a Reconciliation to Reported Amounts

Information by reportable segment and a reconciliation to reported amounts are as follows:


	Year ended December 31, 2025
(in thousands)	Titleist Golf Equipment		FootJoy Golf Wear		Golf Gear		Total Reportable Segments		Other (1)		Total Consolidated
Net sales	$	1,596,243	$	569,908	$	244,948	$	2,411,099	$	147,631	$	2,558,730
Segment expenses:
Cost of goods sold	789,578		343,393		142,364		1,275,335
Advertising and promotion	181,973		49,050		14,200		245,223
Research and development	66,914		4,926		2,789		74,629
Selling, general and administrative	305,112		143,830		47,311		496,253
Other segment items (2)	7,742		223		2,594		10,559
Restructuring costs (3)	—		—		—		—		16,824
Other expenses	—		—		—		—		140,479
Total operating income	244,924		28,486		35,690		309,100		(9,672)		299,428
Reconciling items:
Interest expense, net (Note 19)											(58,288)
Loss on debt extinguishment (Note 11 )											(16,970)
Non-service cost component of net periodic benefit cost											(5,342)
Other (4)											20,698
Total income before income tax											$	239,526

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(1) Amounts represent operating segments that do not meet the quantitative thresholds to be a reportable segment, as well as unallocated corporate expenses. These non-reportable segments include two premium performance apparel businesses.

(2) Other segment items include identifiable intangible asset amortization expense.

(3) Restructuring costs primarily relate to the VBR program (Note 24).

(4) Other includes a non-cash gain on deconsolidation of $20.9 million related to Lionscore (Note 8).

Information by reportable segment and a reconciliation to reported amounts are as follows:


	Year ended December 31, 2024
(in thousands)	Titleist Golf Equipment		FootJoy Golf Wear		Golf Gear		Total Reportable Segments		Other (1)		Total Consolidated
Net sales	$	1,507,817	$	574,560	$	232,141	$	2,314,518	$	142,573	$	2,457,091
Segment expenses:
Cost of goods sold	711,544		352,225		142,870		1,206,639
Advertising and promotion	170,604		50,016		13,259		233,879
Research and development	59,534		4,338		2,218		66,090
Selling, general and administrative	282,408		142,741		45,399		470,548
Other segment items (2)	9,801		221		2,594		12,616
Restructuring costs (3)	—		—		—		—		18,549
Other expenses	—		—		—		—		144,508
Total operating income	273,926		25,019		25,801		324,746		(20,484)		304,262
Reconciling items:
Interest expense, net (Note 19)											(52,637)
Non-service cost component of net periodic benefit cost											(2,998)
Other											1,040
Total income before income tax											$	249,667

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(2) Other segment items include identifiable intangible asset amortization expense.

(3) Restructuring costs primarily relate to Lionscore (Note 24).

Information by reportable segment and a reconciliation to reported amounts are as follows:


	Year ended December 31, 2023
(in thousands)	Titleist Golf Equipment		FootJoy Golf Wear		Golf Gear		Total Reportable Segments		Other (1)		Total Consolidated
Net sales	$	1,420,369	$	590,039	$	222,566	$	2,232,974	$	149,021	$	2,381,995
Segment expenses:
Cost of goods sold	679,226		373,326		143,849		1,196,401
Advertising and promotion	160,464		50,384		12,079		222,927
Research and development	57,118		4,063		1,835		63,016
Selling, general and administrative	262,558		144,234		42,902		449,694
Other segment items (2)	10,196		223		2,384		12,803
Restructuring costs									705
Other expenses									151,144
Total operating income	250,807		17,809		19,517		288,133		(2,828)		285,305
Reconciling items:
Interest expense, net (Note 19)											(41,288)
Non-service cost component of net periodic benefit cost											(3,327)
Other											910
Total income before income tax											$	241,600

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(2) Other segment items include identifiable intangible asset amortization expense.

Schedule of Depreciation and Amortization Expense by Reportable Segment

Other segment disclosures are as follows:


	Year ended December 31,
(in thousands)	2025		2024		2023
Depreciation and amortization
Titleist golf equipment	$	38,935	$	39,514	$	36,549
FootJoy golf wear	8,048		7,978		7,613
Golf gear	5,486		5,470		4,410
Share based compensation
Titleist golf equipment	$	18,926	$	19,483	$	18,417
FootJoy golf wear	6,921		7,844		7,633
Golf gear	2,723		2,989		3,003

Schedule of Net Sales and Area Long-lived Assets by Geographical

Information as to the Company’s operations in different geographic regions is presented below. Net sales are categorized based on the location in which the sale originates.


	Year ended December 31,
(in thousands)	2025		2024		2023
Net sales
United States	$	1,523,290	$	1,446,785	$	1,350,006
EMEA (1)	356,842		320,901		314,655
Japan	131,079		133,979		149,425
Korea	275,517		290,979		301,815
Rest of World	272,002		264,447		266,094
Total net sales	$	2,558,730	$	2,457,091	$	2,381,995

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(1) Europe, the Middle East and Africa (“EMEA”)

Long-lived assets (property, plant and equipment, net) categorized based on their location of domicile are as follows:


	December 31,
(in thousands)	2025		2024
Long-lived assets
United States	$	271,586	$	237,097
EMEA	16,227		13,964
Japan	4,770		4,961
Korea	7,368		6,981
Rest of World (1)	56,624		62,744
Total long-lived assets	$	356,575	$	325,747

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(1) Includes manufacturing facilities in Thailand with long-lived assets of $52.1 million and $51.1 million as of December 31, 2025 and 2024, respectively.

Acushnet Holdings Corp. 10-K