Acushnet (GOLF) 10-Q 11 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Acushnet Holdings Corp.
Entity Central Index Key	1,672,013
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Common stock outstanding		74,451,977

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and restricted cash ($14,827 and $13,811 attributable to the variable interest entity ("VIE"))	$ 80,897	$ 79,140
Accounts receivable, net	264,866	177,506
Inventories ($12,170 and $14,633 attributable to the VIE)	294,936	323,289
Other assets	73,145	84,596
Total current assets	713,844	664,531
Property, plant and equipment, net ($10,245 and $10,709 attributable to the VIE)	232,663	239,748
Goodwill ($32,312 and $32,312 attributable to the VIE)	182,434	179,241
Intangible assets, net	485,616	489,988
Deferred income taxes	106,384	130,416
Other assets ($2,624 and $2,642 attributable to the VIE)	31,907	32,247
Total assets	1,752,848	1,736,171
Current liabilities
Short-term debt	75,622	42,495
Current portion of long-term debt	23,750	18,750
Accounts payable ($6,914 and $10,397 attributable to the VIE)	78,669	87,608
Accrued taxes	24,774	41,962
Accrued compensation and benefits ($360 and $780 attributable to the VIE)	58,896	224,230
Accrued expenses and other liabilities ($3,231 and $4,121 attributable to the VIE)	66,032	47,063
Total current liabilities	327,743	462,108
Long-term debt and capital lease obligations	431,498	348,348
Deferred income taxes	6,269	7,452
Accrued pension and other postretirement benefits ($1,723 and $1,946 attributable to the VIE)	139,892	135,339
Other noncurrent liabilities ($3,697 and $3,368 attributable to the VIE)	16,162	14,101
Total liabilities	921,564	967,348
Commitments and contingencies (Note 14)
Shareholders' Equity
Common stock, $0.001 par value, 500,000,000 shares authorized; 74,451,977 and 74,093,598 shares issued and outstanding	74	74
Additional paid-in capital	887,574	880,576
Accumulated other comprehensive loss, net of tax	(88,338)	(90,834)
Retained deficit	(1,122)	(53,951)
Total equity attributable to Acushnet Holdings Corp.	798,188	735,865
Noncontrolling interests	33,096	32,958
Total shareholders' equity	831,284	768,823
Total liabilities and shareholders' equity	$ 1,752,848	$ 1,736,171

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Cash and restricted cash ($14,827 and $13,811 attributable to the variable interest entity ("VIE"))	$ 80,897	$ 79,140
Inventories	294,936	323,289
Property, plant and equipment, net	232,663	239,748
Goodwill	182,434	179,241
Other assets	31,907	32,247
Accounts payable	78,669	87,608
Accrued compensation and benefits	58,896	224,230
Accrued expenses and other liabilities	66,032	47,063
Accrued pension and postretirement benefits	139,892	135,339
Other noncurrent liabilities	$ 16,162	$ 14,101
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	74,451,977	74,093,598
Common stock, shares outstanding	74,451,977	74,093,598
VIE
Cash and restricted cash ($14,827 and $13,811 attributable to the variable interest entity ("VIE"))	$ 14,827	$ 13,811
Inventories	12,170	14,633
Property, plant and equipment, net	10,245	10,709
Goodwill	32,312	32,312
Other assets	2,624	2,642
Accounts payable	6,914	10,397
Accrued compensation and benefits	360	780
Accrued expenses and other liabilities	3,231	4,121
Accrued pension and postretirement benefits	1,723	1,946
Other noncurrent liabilities	$ 3,697	$ 3,368

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Net sales	$ 427,988	$ 463,261	$ 861,603	$ 903,196
Cost of goods sold	205,079	225,301	412,279	439,367
Gross profit	222,909	237,960	449,324	463,829
Operating expenses:
Selling, general and administrative	151,808	158,121	299,806	313,439
Research and development	12,092	11,693	24,599	22,823
Intangible amortization	1,624	1,654	3,246	3,303
Restructuring charges		55		642
Income from operations	57,385	66,437	121,673	123,622
Interest expense, net	4,901	14,563	7,823	28,404
Other (income) expense, net	239	2,455	(510)	3,838
Income before income taxes	52,245	49,419	114,360	91,380
Income tax expense	18,207	21,941	40,692	38,710
Net income	34,038	27,478	73,668	52,670
Less: Net income attributable to noncontrolling interests	(1,022)	(423)	(2,538)	(1,953)
Net income attributable to Acushnet Holdings Corp.	$ 33,016	$ 27,055	$ 71,130	$ 50,717
Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$ 0.44	$ 0.62	$ 0.96	$ 1.14
Diluted	0.44	$ 0.39	0.96	$ 0.74
Cash dividends declared per common share:	$ 0.12		$ 0.24
Weighted average number of common shares:
Basic	74,451,977	21,821,256	74,337,013	21,821,256
Diluted	74,581,269	54,450,380	74,409,050	54,447,260

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
Net income	$ 34,038	$ 27,478	$ 73,668	$ 52,670
Other comprehensive income (loss)
Foreign currency translation adjustments	1,218	5,204	12,798	12,181
Foreign exchange derivative instruments
Unrealized holding gains (losses) arising during period	425	(12,136)	(11,320)	(23,625)
Reclassification adjustments included in net income	(1,284)	(2,846)	(3,095)	(7,757)
Tax benefit (expense)	701	5,111	3,898	11,130
Foreign exchange derivative instruments, net	(158)	(9,871)	(10,517)	(20,252)
Available-for-sale securities
Unrealized holding gains (losses) arising during period	129	155	24	(148)
Tax benefit (expense)	(49)	(59)	(9)	56
Available-for-sale securities, net	80	96	15	(92)
Pension and other postretirement benefits
Pension and other postretirement benefits adjustments	340	873	158	1,173
Tax benefit (expense)	(21)	(185)	42	(126)
Pension and other postretirement benefits adjustments, net	319	688	200	1,047
Total other comprehensive income (loss)	1,459	(3,883)	2,496	(7,116)
Comprehensive income	35,497	23,595	76,164	45,554
Less: Comprehensive income attributable to noncontrolling interests	(1,022)	(423)	(2,538)	(1,953)
Comprehensive income attributable to Acushnet Holdings Corp.	$ 34,475	$ 23,172	$ 73,626	$ 43,601

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Cash flows from operating activities
Net income	$ 73,668	$ 52,670
Adjustments to reconcile net income to cash provided by (used in) operating activities
Depreciation and amortization	20,453	20,552
Unrealized foreign exchange gain	(1,156)	(733)
Amortization of debt issuance costs	660	2,512
Amortization of discount on bonds payable		282
Change in fair value of common stock warrants		6,112
Share-based compensation	7,901	964
Loss on disposals of property, plant and equipment	454	66
Deferred income taxes	26,469	29,088
Changes in operating assets and liabilities
Accounts receivable	(80,999)	(95,997)
Inventories	34,216	51,488
Accounts payable	(11,079)	(5,598)
Accrued taxes	(18,621)	(1,816)
Accrued expenses and other liabilities	(150,091)	130,871
Other assets	3,119	(3,993)
Other noncurrent liabilities	5,141	(145,828)
Interest due to related parties		14,847
Cash flows provided by (used in) operating activities	(89,865)	55,487
Cash flows from investing activities
Additions to property, plant and equipment	(8,823)	(8,116)
Cash flows used in investing activities	(8,823)	(8,116)
Cash flows from financing activities
Increase in short-term borrowings, net	31,615	5,867
Proceeds from delayed draw term loan A facility	100,000
Repayment of term loan facilities	(11,875)
Repayment of senior term loan facility		(30,000)
Debt issuance costs		(663)
Dividends paid on common stock	(17,868)
Dividends paid to noncontrolling interests	(2,400)	(3,000)
Payment of employee restricted stock tax withholdings	(903)
Cash flows provided by (used in) financing activities	98,569	(27,796)
Effect of foreign exchange rate changes on cash	1,876	1,990
Net increase in cash	1,757	21,565
Cash and restricted cash, beginning of year	79,140	59,134
Cash and restricted cash, end of period	80,897	80,699
Supplemental information
Non-cash additions to property, plant and equipment	1,265	$ 690
Dividend equivalents declared not paid	$ 433

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (UNAUDITED) - 6 months ended Jun. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Parent	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Deficit	Noncontrolling Interest	Total
Beginning balance at Dec. 31, 2016	$ 735,865	$ 74	$ 880,576	$ (90,834)	$ (53,951)	$ 32,958	$ 768,823
Beginning balance (in shares) at Dec. 31, 2016		74,094
Changes in stockholders' equity
Net income (Non controlling Interest)	71,130				71,130	2,538	73,668
Other comprehensive income	2,496			2,496			2,496
Stock-based compensation expense	7,901		7,901				7,901
Vesting of restricted common stock, net of shares withheld for employee taxes (in shares)		358
Vesting of restricted common stock, net of shares withheld for employee taxes (in value)	(903)		(903)				(903)
Dividend and dividend equivalents declared	(18,301)				(18,301)		(18,301)
Dividends declared to noncontrolling interests						(2,400)	(2,400)
Ending balance at Jun. 30, 2017	$ 798,188	$ 74	$ 887,574	$ (88,338)	$ (1,122)	$ 33,096	$ 831,284
Ending balance (in shares) at Jun. 30, 2017		74,452

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Acushnet Holdings Corp. (the “Company”), its wholly owned subsidiaries and a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. Certain information in footnote disclosures normally included in annual financial statements has been condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the condensed consolidated financial statements do not include all disclosures required by U.S. GAAP. In the opinion of management, the financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The results of operations for the six months ended June 30, 2017 are not necessarily indicative of results to be expected for the full year ended December 31, 2017, nor were those of the comparable 2016 period representative of those actually experienced for the full year ended December 31, 2016. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2016 included in its Annual Report on Form 10-K filed with the SEC on March 30, 2017. Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets, liabilities, stockholders’ equity, net sales and expenses, and the disclosure of contingent assets and liabilities in its unaudited condensed consolidated financial statements. Actual results could differ from those estimates. Acquisition Acushnet Holdings Corp. was incorporated in Delaware on May 9, 2011 as Alexandria Holdings Corp., an entity owned by Fila Korea Co., Ltd. (“Fila Korea”), a leading sport and leisure apparel and footwear company which is a public company listed on the Korea Exchange, and a consortium of investors (the “Financial Investors”) led by Mirae Asset Global Investments, a global investment management firm. Acushnet Holdings Corp. acquired Acushnet Company, our operating subsidiary, from Beam Suntory, Inc. (at the time known as Fortune Brands, Inc.) (“Beam”) on July 29, 2011 (the “Acquisition”). Initial Public Offering On November 2, 2016, the Company completed an initial public offering of 19,333,333 shares of its common stock sold by selling stockholders at a public offering price of $17.00 per share. Upon the closing of the Company’s initial public offering, all remaining outstanding shares of the Company’s Series A preferred stock were automatically converted into 11,556,495 shares of the Company’s common stock and the Company’s convertible notes were automatically converted into 22,791,852 shares of the Company’s common stock. The underwriters of the Company’s initial public offering exercised their over-allotment option to purchase an additional 2,899,999 shares of common stock from the selling stockholders at the initial public offering price of $17.00 per share. Following the pricing of the initial public offering, Magnus Holdings Co., Ltd. (“Magnus”), a wholly-owned subsidiary of Fila Korea, purchased from the Financial Investors on a pro rata basis 14,818,720 shares of the Company’s common stock, resulting in Magnus holding a controlling ownership interest of 53.1% of the Company’s outstanding common stock. The 14,818,720 shares of the Company’s common stock sold by the Financial Investors were received upon the automatic conversion of certain of the Company’s outstanding convertible notes and Series A preferred stock. The remaining outstanding convertible notes and Series A preferred stock automatically converted into shares of the Company’s common stock prior to the closing of the initial public offering. On October 14, 2016, the Company effected a nine-for-one stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for its 7.5% convertible notes due 2021 (“convertible notes”), Series A redeemable convertible preferred stock (“Series A preferred stock”), and the exercise price for the common stock warrants and the strike price of stock-based compensation. Accordingly, all share and per share amounts for all periods presented in the accompanying financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the common stock warrant exercise price, and convertible notes and Series A preferred stock conversion ratios. Dividend Declarations On May 12, 2017, the board of directors declared a dividend of $0.12 per share to shareholders on record. The dividend was paid on June 16, 2017. On March 22, 2017, the board of directors declared a dividend of $0.12 per share to shareholders on record. The dividend was paid on April 19, 2017. Variable Interest Entities VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) through its interests in the VIE, the obligation to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE. The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the noncontrolling entities have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of June 30, 2017 and December 31, 2016. In addition, pursuant to the terms of the agreement governing the VIE, the Company is not required to provide financial support to the VIE. Cash and Restricted Cash Cash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations. As of June 30, 2017 and December 31, 2016, the amount of restricted cash included in cash and restricted cash on the balance sheet was $3.2 million and $3.1 million, respectively. Accounts Receivable As of June 30, 2017 and December 31, 2016, the allowance for doubtful accounts was $9.6 million and $12.3 million, respectively. Foreign Currency Translation and Transactions Foreign currency transaction gains included in selling, general and administrative expense were $1.0 million and $2.0 million for the three months ended June 30, 2017 and 2016, respectively. Foreign currency transaction gains included in selling, general and administrative expense were $3.3 million and $3.9 million for the six months ended June 30, 2017 and 2016, respectively. Recently Adopted Accounting Standards Consolidation — Interests Held Through Related Parties In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) ASU 2016‑17, “ Consolidation: Interests Held through Related Parties that are under Common Control. ” ASU 2016‑17 changes the evaluation of whether a reporting entity is the primary beneficiary of a VIE by changing how a reporting entity that is a single decision maker of a VIE treats indirect interests in the entity held through related parties that are under common control with the reporting entity. The Company adopted the provisions of this standard during the three months ended March 31, 2017. The adoption of this standard did not have an impact on the consolidated financial statements. Compensation—Stock Compensation In March 2016, the FASB issued ASU 2016‑09, “Compensation—Stock Compensation: Improvements to Employee Share‑Based Payment Accounting” to simplify accounting for employee share‑based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Company adopted the provisions of this standard during the three months ended March 31, 2017. The adoption of this standard did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards Compensation—Stock Compensation—Scope of Modification Accounting In May 2017, the FASB issued ASU 2017‑09, “Compensation—Stock Compensation: Scope of Modification Accounting .” The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718, Compensation — Stock Compensation. ASU 2017‑09 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period for which financial statements have not been issued or made available for issuance. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Compensation—Retirement Benefits In March 2017, the FASB issued ASU 2017‑07, “ Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post Retirement Benefit Cost. ” ASU 2017‑07 requires that an employer report the service cost component of net periodic pension and net periodic post retirement cost in the same line item as other compensation costs arising from services rendered by the employees during the period. It also requires the other components of net periodic pension and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization. ASU 2017‑07 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been issued or made available for issuance.The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Intangibles—Goodwill and Other — Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017‑04, “ Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment. ” ASU 2017‑04 removes the second step of the goodwill impairment test. Instead an entity will perform a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. ASU 2017‑04 is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Business Combinations—Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017‑01, “ Business Combinations: Clarifying the Definition of a Business. ” ASU 2017‑01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. ASU 2017‑01 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early application is permitted for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Revenue from Contracts with Customers In May 2016, the FASB issued ASU 2016‑12, “Revenue from Contracts with Customers: Narrow‑Scope Improvements and Practical Expedients. ” ASU 2016‑12 addresses narrow‑scope improvements to the guidance on collectability, noncash consideration and completed contracts at transition and provides a practical expedient for contract modifications and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers. In March 2016, the FASB issued ASU 2016‑08, “Revenue from Contracts with Customers: Principal versus Agent Considerations ” clarifying the implementation guidance on principal versus agent considerations. In August 2015, the FASB issued ASU 2015‑14, “ Revenue from Contracts with Customers: Deferral of the Effective Date .” deferring the adoption of previously issued guidance published in May 2014, ASU 2014‑09, “ Revenue from Contracts with Customers. ” ASU 2014‑09 amends revenue recognition guidance and requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2016‑08 and 2015‑14 are effective for reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. The new standard permits the use of either the retrospective or modified retrospective approach on adoption. While the Company continues the process of evaluating the new standard against its existing accounting policies, the Company has identified customer incentives and expanded disclosures as the primary areas that would be affected by the new guidance. Based upon the terms of the Company’s agreements and the materiality of the transactions related to customer incentives, the Company does not expect the effect of adoption to have a material impact on the Company’s consolidated financial statements. Leases In February 2016, the FASB issued ASU 2016‑02, “ Leases ,” which will require lessees to recognize right‑of‑use assets and lease liabilities for leases which were formerly classified as operating leases. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. While the Company is still in the process of completing its analysis on the complete impact this ASU will have on its consolidated financial statements and related disclosures, it does expect the adoption of this standard will have a material impact on its consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventories
Inventories	2. Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first‑in, first‑out inventory method. The inventory balance, which includes material, labor and manufacturing overhead costs, is recorded net of write downs for obsolete or slow-moving inventory. The components of inventories were as follows: (in thousands) June 30, December 31, 2017 2016 Raw materials and supplies $ 52,797 $ 55,424 Work-in-process 24,638 21,558 Finished goods 217,501 246,307 Inventories $ 294,936 $ 323,289

Product Warranty

Product Warranty	6 Months Ended
	Jun. 30, 2017
Product Warranty
Product Warranty	3. Product Warranty The Company has defined warranties ranging from one to two years. Products covered by the defined warranty policies include certain Titleist golf products, FootJoy golf shoes and FootJoy golf outerwear. These product warranties generally obligate the Company to pay for the cost of replacement products, including the cost of shipping replacement products to its customers. The estimated cost of satisfying future warranty claims is accrued at the time the sale is recorded. In estimating future warranty obligations, the Company considers various factors, including its warranty policies and practices, the historical frequency of claims and the cost to replace or repair products under warranty. The activity related to the Company’s warranty obligation for accrued warranty expense was as follows: Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Balance at beginning of period $ 3,764 $ 3,595 $ 3,526 $ 3,345 Provision 1,234 1,527 2,320 2,798 Claims paid/costs incurred (1,226) (1,344) (2,127) (2,374) Foreign currency translation 7 6 60 15 Balance at end of period $ 3,779 $ 3,784 $ 3,779 $ 3,784

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions
Related Party Transactions	4. Related Party Transactions Other assets includes receivables from related parties of $0.5 million and $0.9 million as of June 30, 2017 and December 31, 2016, respectively. Also, prior to its initial public offering, the Company had historically incurred interest expense payable to related parties on its outstanding convertible notes and bonds with common stock warrants. Related party interest expense totaled $7.6 million and $15.1 million for the three and six months ended June 30, 2016, respectively.

Debt and Financing Arrangements

Debt and Financing Arrangements	6 Months Ended
	Jun. 30, 2017
Debt and Financing Arrangements
Debt and Financing Arrangements	5. Debt and Financing Arrangements The Company’s debt and capital lease obligations were as follows: June 30, December 31, (in thousands) 2017 2016 Term loan $ 360,938 $ 370,313 Delayed draw term loan A facility 97,500 - Revolving credit facility 75,622 42,495 Capital lease obligations 111 491 Debt issuance costs (3,301) (3,706) Total 530,870 409,593 Less: short-term debt and current portion of long-term debt Total long-term debt and capital lease obligations $ $ The debt issuance costs of $3.3 million and $3.7 million as of June 30, 2017 and December 31, 2016, respectively relate to the term loan and delayed draw term loan A facility. Senior Secured Credit Facility On April 27, 2016, the Company entered into a senior secured credit facilities agreement arranged by Wells Fargo Bank, National Association which provides for (i) a $275.0 million multi‑currency revolving credit facility, initially including a $20.0 million letter of credit sublimit, a $25.0 million swing line sublimit, a C$25.0 million sublimit for Acushnet Canada Inc., a £20.0 million sublimit for Acushnet Europe Limited and an alternative currency sublimit of $100.0 million for borrowings in Canadian dollars, euros, pounds sterling and Japanese yen (“revolving credit facility”), (ii) a $375.0 million term loan A facility and (iii) a $100.0 million delayed draw term loan A facility. The revolving and term loan facilities mature on July 28, 2021. On August 9, 2017, the senior secured credit facilities agreement was amended to increase the letter of credit sublimit to $25.0 million, to increase the sublimit for Acushnet Canada Inc. to C$35.0 million and to increase the sublimit for Acushnet Europe Limited to £30.0 million. The credit agreement allows for the incurrence of additional term loans or increases in the revolving credit facility in an aggregate principal amount not to exceed (i) $200.0 million plus (ii) an unlimited amount so long as the net average secured leverage ratio (as defined in the credit agreement) does not exceed 2.00:1.00 on a pro forma basis. The applicable interest rate for the Canadian borrowings under the senior secured credit facility is based on the Canadian Dollar Offered Rate (“CDOR”) plus a margin ranging from 1.25% to 2.00% depending on the Net Average Total Leverage Ratio as defined in the credit agreement. The applicable interest for the swing line sublimit is the highest of (a) Federal Funds Rate plus 0.50%, (b) the Prime Rate and (c) the one-month London Interbank Offered Rate (“LIBOR”) rate plus 1.00% plus a margin ranging from 0.25% to 1.00% depending on the Net Average Total Leverage Ratio as defined in the credit agreement. The applicable interest rate for all remaining borrowings under the senior secured credit facilities is LIBOR plus a margin ranging from 1.25% to 2.00% depending on the Net Average Total Leverage Ratio as defined in the credit agreement or the highest of (a) the Federal Funds Rate plus 0.50%, (b) the Prime Rate and (c) the one-month LIBOR rate plus 1.00% plus a margin ranging from 0.25% to 1.00% depending on the Net Average Total Leverage Ratio as defined in the credit agreement. The credit agreement contains customary affirmative and restrictive covenants, including, among others, financial covenants based on the Company’s leverage and interest coverage ratios. The credit agreement includes customary events of default, the occurrence of which, following any applicable cure period, would permit the lenders to, among other things, declare the principal, accrued interest and other obligations to be immediately due and payable. As of June 30, 2017, the Company was in compliance with all covenants under the credit agreement and anticipates compliance with all covenants under the credit agreement for the foreseeable future. A change of control is an event of default under the credit agreement which could result in the acceleration of all outstanding indebtedness and the termination of all commitments under the credit agreement and would allow the lenders under the credit agreement to enforce their rights with respect to the collateral granted. A change of control occurs if any person (other than certain permitted parties, including Fila Korea) becomes the beneficial owner of 35% or more of the outstanding common stock of the Company. On October 28, 2016, Magnus entered into a one-year term loan which is secured by a pledge on all of the Company’s common stock owned by Magnus, except for 5% of the Company’s outstanding common stock owned by Magnus that is subject to a negative pledge under Fila Korea’s credit facility, which equals 47.8% of the Company’s outstanding common stock. If Fila Korea or Magnus are unable to repay the amounts due on the term loan at maturity, the lenders of such debt can foreclose on the pledged shares of the Company’s common stock. The credit agreement was signed and became effective on April 27, 2016 and initial funding under the credit agreement occurred on July 28, 2016. The proceeds of the $375.0 million term loan A facility, borrowings of C$4.0 million (equivalent to approximately $3.0 million) under the revolving credit facility and cash on hand of $23.6 million were used to repay all amounts outstanding under the secured floating rate notes and certain former working credit facilities. The secured floating rate notes, certain former working credit facilities and the former senior revolving credit facility were terminated. During the first quarter of 2017, the Company drew down $100.0 million on the delayed draw term loan A facility and $47.8 million under the revolving credit facility to substantially fund the equity appreciation rights plan (“EAR Plan”) payout (Note 10). There were outstanding borrowings under the revolving credit facility of $75.6 million as of June 30, 2017 and the weighted average interest rate applicable to the outstanding borrowings was 2.73%.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Financial Instruments
Derivative Financial Instruments	6. Derivative Financial Instruments Foreign Exchange Derivative Instruments The Company principally uses financial instruments to reduce the impact of changes in foreign currency exchange rates. The principal derivative financial instruments the Company enters into are foreign exchange forward contracts. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. Foreign exchange forward contracts are primarily used to hedge purchases denominated in select foreign currencies, thereby limiting currency risk that would otherwise result from changes in exchange rates. The periods of the foreign exchange forward contracts correspond to the periods of the forecasted transactions, which do not exceed 24 months subsequent to the latest balance sheet date. The primary foreign exchange forward contracts pertain to the U.S. dollar, the Japanese yen, the British pound sterling, the Canadian dollar, the Korean won and the Euro. The gross U.S. dollar equivalent notional amount outstanding of all foreign exchange forward contracts designated under hedge accounting as of June 30, 2017 and December 31, 2016 was $308.8 million and $371.2 million, respectively. The counterparties to derivative contracts are major financial institutions. The credit risk of counterparties does not have a significant impact on the valuation of the Company’s derivative instruments. The fair values of foreign exchange hedges on the consolidated balance sheets were as follows: Balance Sheet June 30, December 31, (in thousands) Location 2017 2016 Asset derivatives Other current assets $ 3,582 $ 11,357 Other noncurrent assets 1,680 5,286 Liability derivatives Other current liabilities Other noncurrent liabilities The effect of foreign exchange hedges on accumulated other comprehensive income (loss) and the consolidated statements of operations was as follows: Gain (Loss) Recognized in Other Comprehensive Income (Loss) Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Type of hedge Cash flow $ 425 $ (12,136) $ (11,320) $ (23,625) $ 425 $ (12,136) $ (11,320) $ (23,625) Gain (Loss) Recognized in Statement of Operations Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Location of gain (loss) in statement of operations Cost of goods sold $ 1,284 $ 2,846 $ 3,095 $ 7,757 Selling, general and administrative expense (30) (952) (1,616) (2,707) $ 1,254 $ 1,894 $ 1,479 $ 5,050 Gains and losses on derivatives designated as cash flow hedges are reclassified from other comprehensive income (loss) to cost of goods sold at the time that the forecasted transaction impacts the income statement. Based on the current valuation, the Company expects to reclassify a net loss of $1.3 million from accumulated other comprehensive income (loss) into cost of goods sold during the next 12 months. Undesignated Foreign Exchange Derivative Instruments The Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities which do not qualify as hedging instruments under U.S. GAAP. Accordingly, these undesignated instruments are recorded at fair value as a derivative asset or liability with the corresponding change in fair value recognized in selling, general and administrative expense, together with the re-measurement gain or loss from the hedged asset or liability. The gross U.S. dollar equivalent notional amount of all outstanding foreign exchange forward contracts not designated under hedge accounting was $1.7 million as of June 30, 2017. There were no outstanding foreign exchange forward contracts not designated under hedge accounting as of December 31, 2016.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements
Fair Value Measurements	7. Fair Value Measurements Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Assets and liabilities measured at fair value on a recurring basis were as follows: Fair Value Measurements as of June 30, 2017 using: (in thousands) Level 1 Level 2 Level 3 Balance Sheet Location Assets Rabbi trust $ $ - $ - Other current assets Foreign exchange derivative instruments - - Other current assets Rabbi trust - - Other noncurrent assets Deferred compensation program assets - - Other noncurrent assets Foreign exchange derivative instruments - - Other noncurrent assets Total assets $ $ $ - Liabilities Foreign exchange derivative instruments $ - $ $ - Other current liabilities Deferred compensation program liabilities - - Other noncurrent liabilities Foreign exchange derivative instruments - - Other noncurrent liabilities Total liabilities $ $ $ - Fair Value Measurements as of December 31, 2016 using: (in thousands) Level 1 Level 2 Level 3 Balance Sheet Location Assets Rabbi trust $ $ - $ - Other current assets Foreign exchange derivative instruments - - Other current assets Rabbi trust - - Other noncurrent assets Deferred compensation program assets - - Other noncurrent assets Foreign exchange derivative instruments - - Other noncurrent assets Total assets $ $ $ - Liabilities Foreign exchange derivative instruments $ - $ $ - Other current liabilities Deferred compensation program liabilities - - Other noncurrent liabilities Foreign exchange derivative instruments - - Other noncurrent liabilities Total liabilities $ $ $ - During the six months ended June 30, 2017 and the year ended December 31, 2016, there were no transfers between Level 1, Level 2 and Level 3. Rabbi trust assets are used to fund certain retirement obligations of the Company. The assets underlying the Rabbi trust are equity and fixed income exchange‑traded funds. Deferred compensation program assets and liabilities represent a program where select employees can defer compensation until termination of employment. Effective July 29, 2011, this program was amended to cease all employee compensation deferrals and provided for the distribution of all previously deferred employee compensation. The program remains in effect with respect to the value attributable to the employer match contributed prior to July 29, 2011. Foreign exchange derivative instruments are foreign exchange forward contracts primarily used to hedge currency fluctuations for transactions denominated in a foreign currency (Note 6). The Company uses the mid‑price of foreign exchange forward rates as of the close of business on the valuation date to value each foreign exchange forward contract at each reporting period.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2017
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits	8. Pension and Other Postretirement Benefits Components of net periodic benefit cost were as follows: Pension Benefits Postretirement Benefits Three months ended June 30, (in thousands) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ $ $ $ Interest cost Expected return on plan assets - - Settlement expense - - - Amortization of net (gain) loss Amortization of prior service cost (credit) Net periodic benefit cost $ $ $ $ Pension Benefits Postretirement Benefits Six months ended June 30, (in thousands) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ $ $ $ Interest cost Expected return on plan assets - - Settlement expense - - - Amortization of net (gain) loss Amortization of prior service cost (credit) Net periodic benefit cost $ $ $ $

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Taxes
Income Taxes	9. Income Taxes Income tax expense decreased by $ 3.7 million, to $ 18.2 million for the three months ended June 30, 2017 compared to $21.9 million for the three months ended June 30, 2016. The Company’s effective tax rate (“ETR”) was 34.9% for the three months ended June 30, 2017, compared to 44.4% for the three months ended June 30, 2016. The decrease in ETR was primarily driven by a reduction in non-cash fair value losses on common stock warrants, which are not tax effected, a decrease in non-deductible transaction costs and changes to the geographic mix of earnings. Income tax expense increased by $2.0 million, to $40.7 million for the six months ended June 30, 2017 compared to $38.7 million for the six months ended June 30, 2016. The Company’s ETR was 35.6% for the six months ended June 30, 2017, compared to 42.4% for the six months ended June 30, 2016. The decrease in ETR was primarily driven by a reduction in non-cash fair value losses on common stock warrants, which are not tax effected, a decrease in non-deductible transaction costs, offset by incremental tax expense associated with the settlement of vested restricted stock units and changes to the geographic mix of earnings.

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2017
Equity Incentive Plans
Equity Incentive Plans	10. Equity Incentive Plans Restricted Stock and Performance Stock Units On January 22, 2016, the Company’s board of directors adopted the Acushnet Holdings Corp. 2015 Omnibus Incentive Plan (“2015 Plan”) pursuant to which the Company may grant stock options, stock appreciation rights, restricted shares of common stock, restricted stock units ("RSUs"), performance stock units ("PSUs") and other stock-based and cash-based awards to members of the board of directors, officers, employees, consultants and advisors of the Company. The 2015 Plan is administered by the compensation committee (the “Administrator”). The Administrator has the authority to establish the terms and conditions of any award issued or granted under the 2015 Plan. Each share issued with respect to RSUs and PSUs granted under the 2015 Plan reduces the number of shares available for grant. RSUs and PSUs forfeited and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant. All RSUs and PSUs granted under the 2015 Plan have dividend equivalent rights (“DERs”), which entitle holders of RSUs and PSUs to the same dividend value per share as holders of common stock. DERs are subject to the same vesting and other terms and conditions as the corresponding unvested RSUs and PSUs. DERs are paid when the underlying shares vest. As of June 30, 2017, a total of 4,602,126 authorized shares of the Company’s common stock remain available for issuance under the 2015 Plan. A summary of the Company’s RSUs and PSUs as of June 30, 2017 and changes during the six months then ended is presented below: Weighted- Number Average of Fair RSUs and PSUs Value Outstanding at December 31, 2016 $ 20.40 Granted 18.47 Vested (409,846) 20.40 Forfeited (194,070) 20.45 Outstanding at June 30, 2017 2,038,336 $ 20.22 RSUs settled during the first quarter of 2017, resulted in the issuance of 409,846 shares of common stock, of which 51,467 shares of common stock were delivered to the Company as payment by employees in lieu of cash to satisfy tax withholding obligations. As of June 30, 2017 no PSUs have vested. On June 12, 2017, the Company’s board of directors approved two grants of RSUs to members of the board of directors. The first grant vests on the one-year anniversary of the Company’s IPO, subject to continued service on the board of directors through the vesting date . The initial fair value of the first grant was estimated at $0.5 million.The second grant vests on the earlier of June 12, 2018 or the next annual stockholders’ meeting, subject to continued service on the board of directors through the vesting date . The initial fair value of the second grant was estimated at $0.8 million. The compensation expense recorded for the six months ended June 30, 2017 related to the PSUs was based on the Company’s best estimate of the three-year cumulative Adjusted EBITDA forecast as of June 30, 2017. The Company reassesses the estimate of the three‑year cumulative Adjusted EBITDA forecast at the end of each reporting period. The Company recorded compensation expense for the RSUs and PSUs of $ 2.3 million and $1.8 million, respectively, during the three months ended June 30, 2017. The Company recorded compensation expense for the RSUs and PSUs of $ 0.6 million and $0. 4 million, respectively, during the three months ended June 30, 2016. The Company recorded compensation expense for the RSUs and PSUs of $4.4 million and $3.5 million, respectively, during the six months ended June 30, 2017. The Company recorded compensation expense for the RSUs and PSUs of $ 0.6 million and $0.4 million, respectively, during the six months ended June 30, 2016. The remaining unrecognized compensation expense related to non‑vested RSUs and non‑vested PSUs granted was $12.7 million and $10.3 million, respectively, as of June 30, 2017 and is expected to be recognized over the related weighted average period of 1. 5 years. Equity Appreciation Rights During the first quarter of 2017, the Company’s outstanding equity appreciation rights (“EAR”) liability was settled in full by a cash payment to the participants. The Company’s liability related to the EAR Plan was $151.5 million as of December 31, 2016 and was recorded within accrued compensation and benefits on the consolidated balance sheet.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss), Net of Tax	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax
Accumulated Other Comprehensive Income (Loss), Net of Tax	11. Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated other comprehensive income (loss), net of tax consists of foreign currency translation adjustments, unrealized gains and losses from foreign exchange derivative instruments designated as cash flow hedges (Note 6), unrealized gains and losses from available‑for‑sale securities and pension and other postretirement adjustments (Note 8). The components of and changes in accumulated other comprehensive income (loss), net of tax, were as follows: Foreign Gains (Losses) on Gains (Losses) Pension and Accumulated Currency Foreign Exchange on Available- Other Other Translation Derivative for-Sale Postretirement Comprehensive (in thousands) Adjustments Instruments Securities Adjustments Loss Balances at December 31, 2016 $ $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from accumulated other comprehensive loss - - Tax benefit (expense) - Balances at June 30, 2017 $ $ $ $ $

Net Income per Common Share

Net Income per Common Share	6 Months Ended
	Jun. 30, 2017
Net Income per Common Share
Net Income per Common Share	12. Net Income per Common Share The following is a computation of basic and diluted net income per common share attributable to Acushnet Holdings Corp.: Three months ended Six months ended June 30, June 30, (in thousands, except share and per share amounts) 2017 2016 2017 2016 Net income attributable to Acushnet Holdings Corp. $ $ $ $ Less: dividends earned by preferred shareholders - - Less: allocation of undistributed earnings to preferred shareholders - - Net income attributable to common stockholders - basic Adjustments to net income for dilutive securities - - Net income attributable to common stockholders - diluted $ $ $ $ Weighted average number of common shares: Basic Diluted Net income per common share attributable to Acushnet Holdings Corp.: Basic $ 0.44 $ 0.62 $ 0.96 $ 1.14 Diluted $ 0.44 $ 0.39 $ 0.96 $ 0.74 Net income per common share attributable to Acushnet Holdings Corp. for the three and six months ended June 30, 2016 was calculated under the two-class method. For the three and six months ended June 30, 2017, there were no outstanding securities requiring use of the two-class method. The Company’s potential dilutive securities for the three and six months ended June 30, 2017, include RSUs and PSUs. For the three and six months ended June 30, 2016, the Company’s potential dilutive securities included Series A preferred stock, warrants to purchase common stock and convertible notes. For the six months ended June 30, 2017, there were no securities excluded from the calculation of diluted weighted‑average common shares outstanding. For the six months ended June 30, 2016, the following securities have been excluded from the calculation of diluted weighted‑average common shares outstanding as their impact was determined to be anti‑dilutive: Series A preferred stock Warrants to purchase common stock

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Information
Segment Information	13. Segment Information The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about assessing performance and allocating resources. The Company has four reportable segments that are organized on the basis of product categories. These segments include Titleist golf balls, Titleist golf clubs, Titleist golf gear and FootJoy golf wear. The CODM primarily evaluates performance using segment operating income. Segment operating income includes directly attributable expenses and certain shared costs of corporate administration that are allocated to the reportable segments, but excludes interest expense, net; gains and losses on the fair value of common stock warrants; transaction fees and other non‑operating gains and losses as the Company does not allocate these to the reportable segments. The CODM does not evaluate a measure of assets when assessing performance. Results shown for the three and six months ended June 30, 2017 and 2016 are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. There are no intersegment transactions. Information by reportable segment and a reconciliation to reported amounts are as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Net sales Titleist golf balls $ 154,959 $ 165,876 $ 289,151 $ 296,249 Titleist golf clubs 93,337 118,337 195,279 233,829 Titleist golf gear 47,300 44,782 89,690 84,334 FootJoy golf wear 112,499 119,400 254,740 264,030 Other 19,893 14,866 32,743 24,754 Total net sales $ 427,988 $ 463,261 $ 861,603 $ 903,196 Segment operating income Titleist golf balls $ 30,972 $ 36,854 $ 52,052 $ 52,353 Titleist golf clubs 4,638 15,827 16,002 35,409 Titleist golf gear 10,276 9,160 17,568 14,616 FootJoy golf wear 5,528 6,111 26,631 25,766 Other 5,115 2,666 7,942 3,849 Total segment operating income 56,529 70,618 120,195 131,993 Reconciling items: Interest expense, net (4,901) (14,563) (7,823) (28,404) Loss on fair value of common stock warrants - (4,233) - (6,112) Transaction fees (52) (5,264) (146) (8,965) Other 669 2,861 2,134 2,868 Total income before income tax $ 52,245 $ 49,419 $ 114,360 $ 91,380

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies
Commitments and Contingencies	14. Commitments and Contingencies Purchase Obligations During the normal course of its business, the Company enters into agreements to purchase goods and services, including purchase commitments for production materials, finished goods inventory, capital expenditures and endorsement arrangements with professional golfers. The reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of June 30, 2017. Purchase obligations by the Company as of June 30, 2017 were as follows: Payments Due by Period Remainder of (in thousands) 2017 2018 2019 2020 2021 Thereafter Purchase obligations $ 133,305 $ 25,494 $ 4,245 $ 2,397 $ 1,814 $ 3,327 Contingencies In connection with the Company’s acquisition of Acushnet Company, Beam indemnified the Company for certain tax related obligations that relate to periods during which Fortune Brands, Inc. owned Acushnet Company. As of June 30, 2017, the Company’s estimate of its receivable for these indemnifications is $8.7 million, of which $0.3 million is recorded in other current assets and $8.4 million is recorded in other noncurrent assets on the consolidated balance sheet. Litigation Beam A dispute has arisen between Acushnet Company and Beam with respect to approximately $16.6 million of value-added tax (“VAT”) trade receivables. These receivables were reflected on Acushnet Company’s consolidated balance sheet at the time of the Company’s acquisition of Acushnet Company. Acushnet Company believes that these VAT trade receivables are assets of the Company; Beam claims that these are tax credits or refunds from the period prior to the acquisition of Acushnet Company which are payable to Beam, pursuant to the terms of the Stock Purchase Agreement that covers the sale of the stock of Acushnet Company. Beam has withheld payments in this amount which the Company believes are payable to Acushnet Company in reimbursement of certain other tax liabilities which existed prior to the acquisition of Acushnet Company. On March 27, 2012, Acushnet Company filed a complaint seeking reimbursement of these funds in the Commonwealth of Massachusetts Superior Court Department, Business Litigation Section. Each party filed Motions for Summary Judgment, which motions were denied by the Court on July 29, 2015. Trial was conducted in early June, 2016. On June 21, 2016, the Court ruled that Beam had a contractual right to the VAT trade receivables actually collected from Acushnet Company's customers prior to the closing of the Company's acquisition of Acushnet Company, but that Beam should pay $972,288 plus pre-judgment interest of $494,859 to the Company to compensate for amounts Beam withheld, but which were not collected from Acushnet Company's customers. The Company recorded the total value of the judgment as other (income) expense, net on the consolidated statement of operations for the year ended December 31, 2016. Acushnet believes that the Court erred in its ruling and filed a Notice of Appeal on July 20, 2016. The related briefing closed on April 28, 2017. Oral arguments before the Commonwealth of Massachusetts Appeals Court are expected to be held in September 2017. Other Litigation In addition to the lawsuit described above, the Company and its subsidiaries are defendants in lawsuits associated with the normal conduct of their businesses and operations. It is not possible to predict the outcome of the pending actions, and, as with any litigation, it is possible that some of these actions could be decided unfavorably. Consequently, the Company is unable to estimate the ultimate aggregate amount of monetary loss, amounts covered by insurance or the financial impact that will result from such matters and has not recorded a liability related to potential losses. The Company believes that there are meritorious defenses to these actions and that these actions will not have a material adverse effect on the consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events
Subsequent Events	15. Subsequent Events Dividend Declaration On August 11, 2017, the board of directors declared a dividend of $0.12 per share to shareholders on record as of September 1, 2017, payable on September 15, 2017.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Acushnet Holdings Corp. (the “Company”), its wholly owned subsidiaries and a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. Certain information in footnote disclosures normally included in annual financial statements has been condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the condensed consolidated financial statements do not include all disclosures required by U.S. GAAP. In the opinion of management, the financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The results of operations for the six months ended June 30, 2017 are not necessarily indicative of results to be expected for the full year ended December 31, 2017, nor were those of the comparable 2016 period representative of those actually experienced for the full year ended December 31, 2016. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2016 included in its Annual Report on Form 10-K filed with the SEC on March 30, 2017.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets, liabilities, stockholders’ equity, net sales and expenses, and the disclosure of contingent assets and liabilities in its unaudited condensed consolidated financial statements. Actual results could differ from those estimates.
Acquisition	Acquisition Acushnet Holdings Corp. was incorporated in Delaware on May 9, 2011 as Alexandria Holdings Corp., an entity owned by Fila Korea Co., Ltd. (“Fila Korea”), a leading sport and leisure apparel and footwear company which is a public company listed on the Korea Exchange, and a consortium of investors (the “Financial Investors”) led by Mirae Asset Global Investments, a global investment management firm. Acushnet Holdings Corp. acquired Acushnet Company, our operating subsidiary, from Beam Suntory, Inc. (at the time known as Fortune Brands, Inc.) (“Beam”) on July 29, 2011 (the “Acquisition”).
Initial Public Offering	Initial Public Offering On November 2, 2016, the Company completed an initial public offering of 19,333,333 shares of its common stock sold by selling stockholders at a public offering price of $17.00 per share. Upon the closing of the Company’s initial public offering, all remaining outstanding shares of the Company’s Series A preferred stock were automatically converted into 11,556,495 shares of the Company’s common stock and the Company’s convertible notes were automatically converted into 22,791,852 shares of the Company’s common stock. The underwriters of the Company’s initial public offering exercised their over-allotment option to purchase an additional 2,899,999 shares of common stock from the selling stockholders at the initial public offering price of $17.00 per share. Following the pricing of the initial public offering, Magnus Holdings Co., Ltd. (“Magnus”), a wholly-owned subsidiary of Fila Korea, purchased from the Financial Investors on a pro rata basis 14,818,720 shares of the Company’s common stock, resulting in Magnus holding a controlling ownership interest of 53.1% of the Company’s outstanding common stock. The 14,818,720 shares of the Company’s common stock sold by the Financial Investors were received upon the automatic conversion of certain of the Company’s outstanding convertible notes and Series A preferred stock. The remaining outstanding convertible notes and Series A preferred stock automatically converted into shares of the Company’s common stock prior to the closing of the initial public offering. On October 14, 2016, the Company effected a nine-for-one stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for its 7.5% convertible notes due 2021 (“convertible notes”), Series A redeemable convertible preferred stock (“Series A preferred stock”), and the exercise price for the common stock warrants and the strike price of stock-based compensation. Accordingly, all share and per share amounts for all periods presented in the accompanying financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the common stock warrant exercise price, and convertible notes and Series A preferred stock conversion ratios.
Dividend Declarations	Dividend Declarations On May 12, 2017, the board of directors declared a dividend of $0.12 per share to shareholders on record. The dividend was paid on June 16, 2017. On March 22, 2017, the board of directors declared a dividend of $0.12 per share to shareholders on record. The dividend was paid on April 19, 2017.
Variable Interest Entities	Variable Interest Entities VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) through its interests in the VIE, the obligation to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE. The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the noncontrolling entities have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of June 30, 2017 and December 31, 2016. In addition, pursuant to the terms of the agreement governing the VIE, the Company is not required to provide financial support to the VIE.
Cash and Restricted Cash	Cash and Restricted Cash Cash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations. As of June 30, 2017 and December 31, 2016, the amount of restricted cash included in cash and restricted cash on the balance sheet was $3.2 million and $3.1 million, respectively.
Accounts Receivable	Accounts Receivable As of June 30, 2017 and December 31, 2016, the allowance for doubtful accounts was $9.6 million and $12.3 million, respectively.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Foreign currency transaction gains included in selling, general and administrative expense were $1.0 million and $2.0 million for the three months ended June 30, 2017 and 2016, respectively. Foreign currency transaction gains included in selling, general and administrative expense were $3.3 million and $3.9 million for the six months ended June 30, 2017 and 2016, respectively.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards Consolidation — Interests Held Through Related Parties In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) ASU 2016‑17, “ Consolidation: Interests Held through Related Parties that are under Common Control. ” ASU 2016‑17 changes the evaluation of whether a reporting entity is the primary beneficiary of a VIE by changing how a reporting entity that is a single decision maker of a VIE treats indirect interests in the entity held through related parties that are under common control with the reporting entity. The Company adopted the provisions of this standard during the three months ended March 31, 2017. The adoption of this standard did not have an impact on the consolidated financial statements. Compensation—Stock Compensation In March 2016, the FASB issued ASU 2016‑09, “Compensation—Stock Compensation: Improvements to Employee Share‑Based Payment Accounting” to simplify accounting for employee share‑based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Company adopted the provisions of this standard during the three months ended March 31, 2017. The adoption of this standard did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards Compensation—Stock Compensation—Scope of Modification Accounting In May 2017, the FASB issued ASU 2017‑09, “Compensation—Stock Compensation: Scope of Modification Accounting .” The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718, Compensation — Stock Compensation. ASU 2017‑09 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period for which financial statements have not been issued or made available for issuance. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Compensation—Retirement Benefits In March 2017, the FASB issued ASU 2017‑07, “ Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post Retirement Benefit Cost. ” ASU 2017‑07 requires that an employer report the service cost component of net periodic pension and net periodic post retirement cost in the same line item as other compensation costs arising from services rendered by the employees during the period. It also requires the other components of net periodic pension and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization. ASU 2017‑07 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been issued or made available for issuance.The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Intangibles—Goodwill and Other — Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017‑04, “ Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment. ” ASU 2017‑04 removes the second step of the goodwill impairment test. Instead an entity will perform a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. ASU 2017‑04 is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Business Combinations—Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017‑01, “ Business Combinations: Clarifying the Definition of a Business. ” ASU 2017‑01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. ASU 2017‑01 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early application is permitted for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. Revenue from Contracts with Customers In May 2016, the FASB issued ASU 2016‑12, “Revenue from Contracts with Customers: Narrow‑Scope Improvements and Practical Expedients. ” ASU 2016‑12 addresses narrow‑scope improvements to the guidance on collectability, noncash consideration and completed contracts at transition and provides a practical expedient for contract modifications and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers. In March 2016, the FASB issued ASU 2016‑08, “Revenue from Contracts with Customers: Principal versus Agent Considerations ” clarifying the implementation guidance on principal versus agent considerations. In August 2015, the FASB issued ASU 2015‑14, “ Revenue from Contracts with Customers: Deferral of the Effective Date .” deferring the adoption of previously issued guidance published in May 2014, ASU 2014‑09, “ Revenue from Contracts with Customers. ” ASU 2014‑09 amends revenue recognition guidance and requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2016‑08 and 2015‑14 are effective for reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. The new standard permits the use of either the retrospective or modified retrospective approach on adoption. While the Company continues the process of evaluating the new standard against its existing accounting policies, the Company has identified customer incentives and expanded disclosures as the primary areas that would be affected by the new guidance. Based upon the terms of the Company’s agreements and the materiality of the transactions related to customer incentives, the Company does not expect the effect of adoption to have a material impact on the Company’s consolidated financial statements. Leases In February 2016, the FASB issued ASU 2016‑02, “ Leases ,” which will require lessees to recognize right‑of‑use assets and lease liabilities for leases which were formerly classified as operating leases. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. While the Company is still in the process of completing its analysis on the complete impact this ASU will have on its consolidated financial statements and related disclosures, it does expect the adoption of this standard will have a material impact on its consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventories
Schedule of inventory	(in thousands) June 30, December 31, 2017 2016 Raw materials and supplies $ 52,797 $ 55,424 Work-in-process 24,638 21,558 Finished goods 217,501 246,307 Inventories $ 294,936 $ 323,289

Product Warranty (Tables)

Product Warranty (Tables)	6 Months Ended
	Jun. 30, 2017
Product Warranty
Schedule of warranty obligation for accrued warranty expense	Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Balance at beginning of period $ 3,764 $ 3,595 $ 3,526 $ 3,345 Provision 1,234 1,527 2,320 2,798 Claims paid/costs incurred (1,226) (1,344) (2,127) (2,374) Foreign currency translation 7 6 60 15 Balance at end of period $ 3,779 $ 3,784 $ 3,779 $ 3,784

Debt and Financing Arrangemen26

Debt and Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2017
Debt and Financing Arrangements
Schedule of debt and capital lease obligations	June 30, December 31, (in thousands) 2017 2016 Term loan $ 360,938 $ 370,313 Delayed draw term loan A facility 97,500 - Revolving credit facility 75,622 42,495 Capital lease obligations 111 491 Debt issuance costs (3,301) (3,706) Total 530,870 409,593 Less: short-term debt and current portion of long-term debt Total long-term debt and capital lease obligations $ $

Derivative Financial Instrume27

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Financial Instruments
Schedule of fair values in foreign exchange hedges on the consolidated balance sheets	Balance Sheet June 30, December 31, (in thousands) Location 2017 2016 Asset derivatives Other current assets $ 3,582 $ 11,357 Other noncurrent assets 1,680 5,286 Liability derivatives Other current liabilities Other noncurrent liabilities
Effect of foreign exchange hedges on accumulated other comprehensive income (loss)	Gain (Loss) Recognized in Other Comprehensive Income (Loss) Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Type of hedge Cash flow $ 425 $ (12,136) $ (11,320) $ (23,625) $ 425 $ (12,136) $ (11,320) $ (23,625)
Effect of foreign exchange hedges in the consolidated statement of operations	Gain (Loss) Recognized in Statement of Operations Three months ended Six months ended June 30, June 30, (in thousands) 2017 2016 2017 2016 Location of gain (loss) in statement of operations Cost of goods sold $ 1,284 $ 2,846 $ 3,095 $ 7,757 Selling, general and administrative expense (30) (952) (1,616) (2,707) $ 1,254 $ 1,894 $ 1,479 $ 5,050

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements
Schedule of assets and liabilities measured at fair value on a recurring basis	Fair Value Measurements as of June 30, 2017 using: (in thousands) Level 1 Level 2 Level 3 Balance Sheet Location Assets Rabbi trust $ $ - $ - Other current assets Foreign exchange derivative instruments - - Other current assets Rabbi trust - - Other noncurrent assets Deferred compensation program assets - - Other noncurrent assets Foreign exchange derivative instruments - - Other noncurrent assets Total assets $ $ $ - Liabilities Foreign exchange derivative instruments $ - $ $ - Other current liabilities Deferred compensation program liabilities - - Other noncurrent liabilities Foreign exchange derivative instruments - - Other noncurrent liabilities Total liabilities $ $ $ - Fair Value Measurements as of December 31, 2016 using: (in thousands) Level 1 Level 2 Level 3 Balance Sheet Location Assets Rabbi trust $ $ - $ - Other current assets Foreign exchange derivative instruments - - Other current assets Rabbi trust - - Other noncurrent assets Deferred compensation program assets - - Other noncurrent assets Foreign exchange derivative instruments - - Other noncurrent assets Total assets $ $ $ - Liabilities Foreign exchange derivative instruments $ - $ $ - Other current liabilities Deferred compensation program liabilities - - Other noncurrent liabilities Foreign exchange derivative instruments - - Other noncurrent liabilities Total liabilities $ $ $ -

Pension and Other Postretirem29

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Pension and Other Postretirement Benefits
Schedule of Components of net periodic benefit cost	Pension Benefits Postretirement Benefits Three months ended June 30, (in thousands) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ $ $ $ Interest cost Expected return on plan assets - - Settlement expense - - - Amortization of net (gain) loss Amortization of prior service cost (credit) Net periodic benefit cost $ $ $ $ Pension Benefits Postretirement Benefits Six months ended June 30, (in thousands) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ $ $ $ Interest cost Expected return on plan assets - - Settlement expense - - - Amortization of net (gain) loss Amortization of prior service cost (credit) Net periodic benefit cost $ $ $ $

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Equity Incentive Plans
Schedule of summary of the Company’s restricted and performance stock units	Weighted- Number Average of Fair RSUs and PSUs Value Outstanding at December 31, 2016 $ 20.40 Granted 18.47 Vested (409,846) 20.40 Forfeited (194,070) 20.45 Outstanding at June 30, 2017 2,038,336 $ 20.22

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss), Net of Tax (Tables)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax
Schedule of changes in each component of accumulated comprehensive income (loss), net of tax effects	Foreign Gains (Losses) on Gains (Losses) Pension and Accumulated Currency Foreign Exchange on Available- Other Other Translation Derivative for-Sale Postretirement Comprehensive (in thousands) Adjustments Instruments Securities Adjustments Loss Balances at December 31, 2016 $ $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from accumulated other comprehensive loss - - Tax benefit (expense) - Balances at June 30, 2017 $ $ $ $ $

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Net Income per Common Share
Schedule of computation of basic and diluted net income per common share	Three months ended Six months ended June 30, June 30, (in thousands, except share and per share amounts) 2017 2016 2017 2016 Net income attributable to Acushnet Holdings Corp. $ $ $ $ Less: dividends earned by preferred shareholders - - Less: allocation of undistributed earnings to preferred shareholders - - Net income attributable to common stockholders - basic Adjustments to net income for dilutive securities - - Net income attributable to common stockholders - diluted $ $ $ $ Weighted average number of common shares: Basic Diluted Net income per common share attributable to Acushnet Holdings Corp.: Basic $ 0.44 $ 0.62 $ 0.96 $ 1.14 Diluted $ 0.44 $ 0.39 $ 0.96 $ 0.74
Schedule of securities excluded from the calculation of diluted weighted average common shares.	For the six months ended June 30, 2016, the following securities have been excluded from the calculation of diluted weighted‑average common shares outstanding as their impact was determined to be anti‑dilutive: Series A preferred stock Warrants to purchase common stock

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Information
Schedule of information by reportable segment and a reconciliation to reported amounts	(in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Net sales Titleist golf balls $ 154,959 $ 165,876 $ 289,151 $ 296,249 Titleist golf clubs 93,337 118,337 195,279 233,829 Titleist golf gear 47,300 44,782 89,690 84,334 FootJoy golf wear 112,499 119,400 254,740 264,030 Other 19,893 14,866 32,743 24,754 Total net sales $ 427,988 $ 463,261 $ 861,603 $ 903,196 Segment operating income Titleist golf balls $ 30,972 $ 36,854 $ 52,052 $ 52,353 Titleist golf clubs 4,638 15,827 16,002 35,409 Titleist golf gear 10,276 9,160 17,568 14,616 FootJoy golf wear 5,528 6,111 26,631 25,766 Other 5,115 2,666 7,942 3,849 Total segment operating income 56,529 70,618 120,195 131,993 Reconciling items: Interest expense, net (4,901) (14,563) (7,823) (28,404) Loss on fair value of common stock warrants - (4,233) - (6,112) Transaction fees (52) (5,264) (146) (8,965) Other 669 2,861 2,134 2,868 Total income before income tax $ 52,245 $ 49,419 $ 114,360 $ 91,380

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies
Schedule of purchase obligations	Purchase obligations by the Company as of June 30, 2017 were as follows: Payments Due by Period Remainder of (in thousands) 2017 2018 2019 2020 2021 Thereafter Purchase obligations $ 133,305 $ 25,494 $ 4,245 $ 2,397 $ 1,814 $ 3,327

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Jun. 16, 2017$ / shares	May 12, 2017$ / shares	Apr. 19, 2017$ / shares	Mar. 22, 2017$ / shares	Nov. 02, 2016$ / sharesshares	Oct. 14, 2016	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Dividend declarations
Cash dividends declared per common share | $ / shares		$ 0.12		$ 0.12			$ 0.12		$ 0.24
Cash dividends paid per common share | $ / shares	$ 0.12		$ 0.12
Cash and Restricted Cash
Restricted cash | $							$ 3,200		$ 3,200		$ 3,100
Accounts receivable
Allowance for doubtful accounts | $							9,600		9,600		12,300
Selling, general and administrative
Foreign currency translation and transactions
Transaction gain (loss) included in selling, general and administrative expense | $							$ 1,000	$ 2,000	$ 3,300	$ 3,900
VIE
Variable interest entities
Ownership percentage							40.00%		40.00%
Outstanding Balance | $							$ 0		$ 0		$ 0
Class of Stock, Common
Initial public offering
Shares converted					11,556,495
Debt converted					22,791,852
Stock split						9
Class of Stock, Common | Initial public offering
Initial public offering
Shares issued					19,333,333
Share price (in dollars per share) | $ / shares					$ 17
Class of Stock, Common | Over-allotment option
Initial public offering
Shares issued					2,899,999
Share price (in dollars per share) | $ / shares					$ 17
Magnus
Initial public offering
Controlling interest, as a percent					53.10%
Magnus | Class of Stock, Common
Initial public offering
Shares purchased by Magnus					14,818,720
Convertible debt
Initial public offering
Interest rate (as a percent)						7.50%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventories
Raw materials and supplies	$ 52,797	$ 55,424
Work-in-process	24,638	21,558
Finished goods	217,501	246,307
Inventories	$ 294,936	$ 323,289

Product Warranty (Details)

Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Activity for accrued warranty expense
Balance at beginning of period	$ 3,764	$ 3,595	$ 3,526	$ 3,345
Provision	1,234	1,527	2,320	2,798
Claims paid/costs incurred	(1,226)	(1,344)	(2,127)	(2,374)
Foreign currency translation	7	6	60	15
Balance at end of period	$ 3,779	$ 3,784	$ 3,779	$ 3,784
Maximum
Product Warranty Liability [Line Items]
Product Warranty			2 years
Minimum
Product Warranty Liability [Line Items]
Product Warranty			1 year

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Related party interest expense	$ 7.6	$ 15.1
Other Assets
Related Party Transaction [Line Items]
Receivables from related party			$ 0.5	$ 0.9

Debt and Financing Arrangemen39

Debt and Financing Arrangements - Schedule of debt and financing arrangements (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt and financing arrangements
Capital lease obligations	$ 111	$ 491
Debt issuance costs	(3,301)	(3,706)
Total	530,870	409,593
Less : short term debt and current portion of long term debt	(99,372)	(61,245)
Long-term debt and capital lease obligations	431,498	348,348
Delayed Draw Term Loan A Facility
Debt and financing arrangements
Long-term debt, gross	97,500
Revolving credit facility
Debt and financing arrangements
Revolving credit facility	75,622	42,495
Term Loan
Debt and financing arrangements
Long-term debt, gross	$ 360,938	$ 370,313

Debt and Financing Arrangemen40

Debt and Financing Arrangements - Senior Secured Credit Facility (Details) $ in Thousands, £ in Millions, CAD in Millions

Oct. 28, 2016

Jul. 28, 2016CAD

Jul. 28, 2016USD ($)

Apr. 27, 2016USD ($)

Mar. 31, 2017USD ($)

Jun. 30, 2017USD ($)

Aug. 09, 2017GBP (£)

Aug. 09, 2017CAD

Aug. 09, 2017USD ($)

Apr. 27, 2016GBP (£)

Apr. 27, 2016CAD

Apr. 27, 2016USD ($)

Line of Credit Facility [Line Items]

Beneficial Ownership percentage for change of control

47.80%

Debt instrument term

1 year

Percentage of stock subject to negative pledge

5.00%

Cash on hand

$ 23,600

Proceeds from delayed draw term loan A facility

$ 100,000

$ 100,000

Minimum

Line of Credit Facility [Line Items]

Beneficial Ownership percentage for change of control

35.00%

Senior Secured Credit Facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity

$ 275,000

Contingent maximum increase to Borrowing Capacity

$ 200,000

Secured leverage ratio

2

Senior Secured Credit Facility | One month LIBOR | Minimum

Line of Credit Facility [Line Items]

Variable rate of interest

1.25%

Senior Secured Credit Facility | One month LIBOR | Maximum

Line of Credit Facility [Line Items]

Variable rate of interest

2.00%

Senior Secured Credit Facility | Letters of credit

Line of Credit Facility [Line Items]

Maximum borrowing capacity

$ 25,000

Revolving credit facility

Line of Credit Facility [Line Items]

Proceeds from revolver loan facility

CAD 4

3,000

Weighted average interest rate

2.73%

Swing line

Line of Credit Facility [Line Items]

Maximum borrowing capacity

25,000

Swing line | Federal funds rate

Line of Credit Facility [Line Items]

Variable rate of interest

0.50%

Swing line | One Month LIBOR

Line of Credit Facility [Line Items]

Floor rate

1.00%

Swing line | One Month LIBOR | Minimum

Line of Credit Facility [Line Items]

Leverage ratio basis spread

0.25%

Swing line | One Month LIBOR | Maximum

Line of Credit Facility [Line Items]

Leverage ratio basis spread

1.00%

Alternative Currency Sublimit

Line of Credit Facility [Line Items]

Maximum borrowing capacity

100,000

Letters of credit

Line of Credit Facility [Line Items]

Maximum borrowing capacity

20,000

Term Loan A Facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity

375,000

Proceeds from revolver loan facility

$ 375,000

Delayed Draw Term Loan A Facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity

$ 100,000

Acushnet Canada | Senior Secured Credit Facility | CDOR | Minimum

Line of Credit Facility [Line Items]

Variable rate of interest

1.25%

Acushnet Canada | Senior Secured Credit Facility | CDOR | Maximum

Line of Credit Facility [Line Items]

Variable rate of interest

2.00%

Acushnet Canada | Senior Secured Credit Facility | Letters of credit

Line of Credit Facility [Line Items]

Maximum borrowing capacity | CAD

CAD 35

Acushnet Canada | Revolving credit facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity | CAD

CAD 25

Acushnet Europe | Senior Secured Credit Facility | Letters of credit

Line of Credit Facility [Line Items]

Maximum borrowing capacity | £

£ 30

Acushnet Europe | Revolving credit facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity | £

£ 20

Equity Appreciation Rights | Revolving credit facility

Line of Credit Facility [Line Items]

Proceeds from revolver loan facility

$ 47,800

Derivative Financial Instrume41

Derivative Financial Instruments - Fair value of foreign exchange derivative instruments in consolidated balance sheets (Details) - Foreign exchange forward contracts - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract	24 months
Derivative designated as hedging
Derivatives, Fair Value [Line Items]
Notional amount	$ 308,800	$ 371,200
Derivative designated as hedging | Other current assets
Derivatives, Fair Value [Line Items]
Asset derivatives	3,582	11,357
Derivative designated as hedging | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Asset derivatives	1,680	5,286
Derivative designated as hedging | Other current liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	3,742	1,106
Derivative designated as hedging | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 687	$ 32

Derivative Financial Instrume42

Derivative Financial Instruments - Effect of foreign exchange derivative instruments in comprehensive income (loss) and statement of operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Expected reclassification of gain recorded in accumulated other comprehensive loss into earnings during next twelve months			$ (1,300)
Derivative designated as hedging | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	$ 425	$ (12,136)	(11,320)	$ (23,625)
Gain (Loss) Recognized in Statement of Operations	1,254	1,894	1,479	5,050
Notional amount	308,800		308,800		$ 371,200
Derivative designated as hedging | Foreign exchange forward contracts | Cash flow
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	425	(12,136)	(11,320)	(23,625)
Derivative designated as hedging | Cost of goods sold | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Statement of Operations	1,284	2,846	3,095	7,757
Derivative designated as hedging | Selling, general and administrative | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Statement of Operations	(30)	$ (952)	(1,616)	$ (2,707)
Undesignated hedging instrument | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 1,700		$ 1,700		$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and liabilities at fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Liabilities
Fair value asset, Transfer between Level 1 to Level 2	$ 0	$ 0
Fair value asset, Transfer between Level 2 to Level 1	0	0
Fair value Liabilities, Transfer between Level 1 to Level 2	0	0
Fair value Liabilities, Transfer between Level 2 to Level 1	0	0
Level 1
Assets
Total assets	14,286	14,088
Liabilities
Total liabilities	1,884	1,846
Level 2
Assets
Total assets	5,262	16,643
Liabilities
Total liabilities	4,471	1,138
Other current assets | Rabbi trust | Level 1
Assets
Total assets	6,994	6,994
Other current assets | Foreign exchange derivative instruments | Level 2
Assets
Total assets	3,582	11,357
Other noncurrent assets | Rabbi trust | Level 1
Assets
Total assets	5,408	5,248
Other noncurrent assets | Foreign exchange derivative instruments | Level 2
Assets
Total assets	1,680	5,286
Other noncurrent assets | Deferred compensation program assets | Level 1
Assets
Total assets	1,884	1,846
Other current liabilities | Foreign exchange derivative instruments | Level 2
Liabilities
Total liabilities	3,784	1,106
Other noncurrent liabilities | Foreign exchange derivative instruments | Level 2
Liabilities
Total liabilities	687	32
Other noncurrent liabilities | Deferred compensation program liabilities | Level 1
Liabilities
Total liabilities	$ 1,884	$ 1,846

Pension and Other Postretirem44

Pension and Other Postretirement Benefits - Periodic benefit cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pension Benefits
Components of net periodic benefit cost
Service cost	$ 2,184	$ 2,456	$ 4,521	$ 4,909
Interest cost	2,934	3,122	5,952	6,293
Expected return on plan assets	(2,934)	(3,067)	(5,947)	(6,206)
Settlement expense	185		316
Amortization of net (gain) loss	258	122	297	247
Amortization of prior service cost (credit)	43	43	87	87
Net periodic benefit cost	2,670	2,676	5,226	5,330
Postretirement Benefits
Components of net periodic benefit cost
Service cost	243	250	478	500
Interest cost	183	212	357	423
Amortization of net (gain) loss	(135)	(174)	(301)	(348)
Amortization of prior service cost (credit)	(27)	(42)	(68)	(84)
Net periodic benefit cost	$ 264	$ 246	$ 466	$ 491

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Components of income before income taxes:
Increase (Decrease) in income tax expense	$ (3,700)		$ 2,000
Income Tax Expense (Benefit)	$ 18,207	$ 21,941	$ 40,692	$ 38,710
Effective Income Tax Rate Reconciliation, Percent	34.90%	44.40%	35.60%	42.40%

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted Stock and Restricted Stock Units (Details) $ / shares in Units, $ in Thousands	Jun. 12, 2017USD ($)item	Jun. 30, 2017USD ($)$ / sharesshares	Mar. 31, 2017$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Weighted - Average Fair Value
Weighted average period					1 year 6 months
Share-based compensation | $					$ 7,901	$ 964
PSUs
Number of RSUs and PSUs
Vested (in shares)					0
Weighted - Average Fair Value
Unrecognized compensation expense | $		$ 10,300			$ 10,300
Share-based compensation | $		1,800		$ 400	3,500	400
RSUs
Weighted - Average Fair Value
Unrecognized compensation expense | $		12,700			12,700
Share-based compensation | $		$ 2,300		$ 600	$ 4,400	$ 600
Common stock issued, restricted stock awards			409,846
Shares issued to satisfy tax withholding obligations			51,467
RSUs | Director
Weighted - Average Fair Value
Number of grants | item	2
RSUs | First grant | Director
Weighted - Average Fair Value
Fair Value of grant | $	$ 500
RSUs | Second grant | Director
Weighted - Average Fair Value
Fair Value of grant | $	$ 800
Equity Appreciation Rights
Weighted - Average Fair Value
Accrued compensation and benefits | $							$ 151,500
Omnibus Incentive 2015 Plan
Restricted Stock and Restricted Stock Units
Share reserved for issuance		4,602,126			4,602,126
Omnibus Incentive 2015 Plan | PSUs
Weighted - Average Fair Value
Performance period					3 years
Omnibus Incentive 2015 Plan | RSUs and PSUs
Number of RSUs and PSUs
Outstanding at beginning of the period			2,459,166		2,459,166
Granted (in shares)					183,086
Vested (in shares)					(409,846)
Forfeited (in shares)					(194,070)
Outstanding at end of the period		2,038,336			2,038,336
Weighted - Average Fair Value
Outstanding at beginning of the period | $ / shares			$ 20.40		$ 20.40
Granted | $ / shares					18.47
Vested | $ / shares					20.40
Forfeited | $ / shares					20.45
Outstanding at end of the period | $ / shares		$ 20.22			$ 20.22

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Balance at the beginning of the period	$ (90,834)
Balance at the end of the period	(88,338)
Foreign Currency Translation Adjustments
Balance at the beginning of the period	(84,675)
Other comprehensive income (loss) before reclassifications	12,798
Balance at the end of the period	(71,877)
Gains (Losses) on Foreign Exchange Derivative Instruments
Balance at the beginning of the period	10,535
Other comprehensive income (loss) before reclassifications	(11,320)
Amounts reclassified from accumulated other comprehensive loss	(3,095)
Tax benefit (expense)	3,898
Balance at the end of the period	18
Gains (Losses) on Available- for-Sale Securities
Balance at the beginning of the period	1,536
Other comprehensive income (loss) before reclassifications	24
Tax benefit (expense)	(9)
Balance at the end of the period	1,551
Pension and Other Postretirement Adjustments
Balance at the beginning of the period	(18,230)
Other comprehensive income (loss) before reclassifications	(173)
Amounts reclassified from accumulated other comprehensive loss	331
Tax benefit (expense)	42
Balance at the end of the period	(18,030)
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	(90,834)
Other comprehensive income (loss) before reclassifications	1,329
Amounts reclassified from accumulated other comprehensive loss	(2,764)
Tax benefit (expense)	3,931
Balance at the end of the period	$ (88,338)

Nets Income per Common Share -

Nets Income per Common Share - Computation of basic and diluted net income per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net Income per Common Share
Net income attributable to Acushnet Holdings Corp	$ 33,016	$ 27,055	$ 71,130	$ 50,717
Less: dividends earned by preferred shareholders		(3,418)		(6,855)
Less: allocation of undistributed earnings to preferred shareholders		(10,192)		(18,913)
Net income attributable to common stockholders - basic	33,016	13,445	71,130	24,949
Adjustments to net income for dilutive securities		8,055		15,432
Net income attributable to common stockholders - diluted	$ 33,016	$ 21,500	$ 71,130	$ 40,381
Weighted average number of common shares:
Basic	74,451,977	21,821,256	74,337,013	21,821,256
Diluted	74,581,269	54,450,380	74,409,050	54,447,260
Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$ 0.44	$ 0.62	$ 0.96	$ 1.14
Diluted	$ 0.44	$ 0.39	$ 0.96	$ 0.74

Net Income per Common Share - C

Net Income per Common Share - Calculation of diluted weighted average common shares outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Series A preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	16,542,243
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	3,105,279

Segment Information - Reconcili

Segment Information - Reconciliation (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			4
Income from operations	$ 57,385	$ 66,437	$ 121,673	$ 123,622
Reconciling items:
Interest expense, net	(4,901)	(14,563)	(7,823)	(28,404)
Loss on fair value of common stock warrants		(4,233)		(6,112)
Transaction fees	(52)	(5,264)	(146)	(8,965)
Other	669	2,861	2,134	2,868
Income before income taxes	52,245	49,419	114,360	91,380
Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	427,988	463,261	861,603	903,196
Income from operations	56,529	70,618	120,195	131,993
Titleist golf balls | Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	154,959	165,876	289,151	296,249
Income from operations	30,972	36,854	52,052	52,353
Titleist golf clubs | Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	93,337	118,337	195,279	233,829
Income from operations	4,638	15,827	16,002	35,409
Titleist golf gear | Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	47,300	44,782	89,690	84,334
Income from operations	10,276	9,160	17,568	14,616
FootJoy golf wear | Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	112,499	119,400	254,740	264,030
Income from operations	5,528	6,111	26,631	25,766
Other | Operating segments
Segment Reporting Information [Line Items]
Total Net Sales	19,893	14,866	32,743	24,754
Income from operations	$ 5,115	$ 2,666	$ 7,942	$ 3,849

Commitments and Contingencies -

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Jun. 30, 2017USD ($)
Commitments and Contingencies
Remainder of 2017	$ 133,305
2,018	25,494
2,019	4,245
2,020	2,397
2,021	1,814
Thereafter	$ 3,327

Commitments and Contingencies52

Commitments and Contingencies - Contingencies and Litigation (Details) - USD ($)	Jun. 21, 2016	Jun. 30, 2017
Loss Contingencies [Line Items]
Loss Contingency, Receivable		$ 8,700,000
Loss Contingency, Receivable, Current		300,000
Loss Contingency, Receivable, Noncurrent		8,400,000
Litigation
Litigation Settlement, Amount	$ 972,288
Litigation Settlement Interest	$ (494,859)
Collectability of receivables
Loss Contingencies [Line Items]
Loss Contingency, Receivable		$ 16,600,000

Subsequent Events - Dividends (

Subsequent Events - Dividends (Details) - $ / shares	Sep. 15, 2017	Aug. 11, 2017	Jun. 16, 2017	May 12, 2017	Apr. 19, 2017	Mar. 22, 2017	Jun. 30, 2017	Jun. 30, 2017
Subsequent Event [Line Items]
Cash dividends declared per common share				$ 0.12		$ 0.12	$ 0.12	$ 0.24
Cash dividends paid per common share			$ 0.12		$ 0.12
Subsequent event
Subsequent Event [Line Items]
Cash dividends declared per common share		$ 0.12
Cash dividends paid per common share	$ 0.12