v3.23.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents our revenue disaggregated by major category and operating and reportable segment (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Topgolf:
Venues$430.5 $399.5 $1,270.4 $1,089.4 
Other business lines17.2 14.3 51.6 50.1 
Total Topgolf$447.7 $413.8 $1,322.0 $1,139.5 
Golf Equipment:
Golf clubs$222.2 $221.4 $913.3 $959.6 
Golf balls71.2 75.3 274.8 257.0 
Total Golf Equipment$293.4 $296.7 $1,188.1 $1,216.6 
Active Lifestyle:
Apparel$211.7 $181.4 $531.3 $456.7 
Gear, accessories & other87.8 96.6 346.3 331.6 
Total Active Lifestyle$299.5 $278.0 $877.6 $788.3 
Total$1,040.6 $988.5 $3,387.7 $3,144.4 
The following table summarizes our revenue by major geographic region (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Revenue by Major Geographic Region:
United States$737.3 $684.8 $2,435.1 $2,194.7 
Europe149.5 141.9 423.3 417.7 
Asia130.7 138.7 419.1 432.6 
Rest of world23.1 23.1 110.2 99.4 
Total$1,040.6 $988.5 $3,387.7 $3,144.4 
The following table summarizes these revenues by operating segment (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Topgolf$12.2 $9.0 $36.5 $33.2 
Active Lifestyle6.0 6.2 20.9 20.2 
Total$18.2 $15.2 $57.4 $53.4 
Reconciliation of Activity Related to Short-term Deferred Revenue
The following table provides a reconciliation of activity related to our short-term deferred revenue balance for the periods presented (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Beginning Balance$98.5 $91.8 $94.9 $93.9 
Deferral of revenue154.6 167.9 478.3 438.4 
Revenue recognized(150.7)(160.1)(457.5)(427.9)
Breakage(5.4)(4.7)(18.5)(13.4)
Foreign currency translation and other(0.1)(0.5)(0.3)3.4 
Ending Balance$96.9 $94.4 $96.9 $94.4 
Reconciliation of Short Term Sales Program Incentives
The following table provides a reconciliation of the activity related to our short-term sales program incentives for the periods presented (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Beginning Balance$24.8 $35.2 $20.8 $23.3 
Additions 4.8 6.1 26.9 33.6 
Credits issued (11.7)(6.6)(28.3)(19.8)
Foreign currency translation and other(0.4)(1.3)(1.9)(3.7)
Ending Balance$17.5 $33.4 $17.5 $33.4 
Sales Returns and Allowances
The following table provides a reconciliation of the activity related to our sales return reserve for the periods presented (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Beginning Balance$81.1 $77.6 $55.4 $47.4 
Provision33.5 17.3 145.0 103.6 
Sales returns(31.9)(23.5)(117.7)(79.6)
Ending Balance$82.7 $71.4 $82.7 $71.4