Topgolf Callaway Brands (MODG) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2017shares
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	ELY
Entity Registrant Name	CALLAWAY GOLF CO
Entity Central Index Key	837,465
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	93,863,988

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 47,989,000	$ 125,975,000
Accounts receivable, net	245,144,000	127,863,000
Inventories	179,020,000	189,400,000
Income taxes receivable	1,544,000	637,000
Other current assets	17,809,000	16,550,000
Total current assets	491,506,000	460,425,000
Property, plant and equipment, net	59,847,000	54,475,000
Intangible assets, net	140,023,000	88,731,000
Goodwill	31,313,000	25,593,000
Deferred taxes, net	99,741,000	114,707,000
Investment in golf-related ventures (Note 8)	48,997,000	48,997,000
Other assets	8,519,000	8,354,000
Total assets	879,946,000	801,282,000
Current liabilities:
Accounts payable and accrued expenses	138,266,000	132,521,000
Accrued employee compensation and benefits	24,939,000	32,568,000
Asset-based credit facilities	76,954,000	11,966,000
Accrued warranty expense	5,945,000	5,395,000
Income tax liability	2,788,000	4,404,000
Total current liabilities	248,892,000	186,854,000
Long-term liabilities:
Income tax payable	3,670,000	3,608,000
Deferred taxes, net	1,617,000	1,596,000
Long-term incentive compensation and other	627,000	624,000
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized, none issued and outstanding at March 31, 2017 and December 31, 2016	0	0
Common stock, $0.01 par value, 240,000,000 shares authorized, 95,042,557 and 94,214,295 shares issued at March 31, 2017 and December 31, 2016, respectively	950,000	942,000
Additional paid-in capital	330,126,000	330,206,000
Retained earnings	311,814,000	287,129,000
Accumulated other comprehensive loss	(15,469,000)	(18,466,000)
Less: Common stock held in treasury, at cost, 1,178,569 and 97,837 shares at March 31, 2017 and December 31, 2016, respectively	(12,435,000)	(905,000)
Total Callaway Golf Company shareholders’ equity	614,986,000	598,906,000
Non-controlling interest in consolidated entity (Note 7)	10,154,000	9,694,000
Total shareholders’ equity	625,140,000	608,600,000
Total liabilities and shareholders’ equity	$ 879,946,000	$ 801,282,000

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	95,042,557	93,769,199
Common Stock held in treasury, shares (in shares)	1,178,569	2,075

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net sales	$ 308,927	$ 274,053
Cost of sales	161,212	141,661
Gross profit	147,715	132,392
Operating expenses:
Selling expense	71,762	63,286
General and administrative expense	22,864	15,544
Research and development expense	8,882	8,234
Total operating expenses	103,508	87,064
Income from operations	44,207	45,328
Interest income	31	162
Interest expense	(746)	(783)
Other expense, net	(4,406)	(4,916)
Income before income taxes	39,086	39,791
Income tax provision	13,206	1,401
Net income	25,880	38,390
Less: Net income attributable to non-controlling interests	191	0
Net income attributable to Callaway Golf Company	$ 25,689	$ 38,390
Earnings per common share:
Basic (in dollars per share)	$ 0.27	$ 0.41
Diluted (in dollars per share)	$ 0.27	$ 0.40
Weighted-average common shares outstanding:
Basic (in shares)	94,070	93,952
Diluted (in shares)	95,948	95,424
Dividends declared per common share (usd per share)	$ 0.01	$ 0.01

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 25,880	$ 38,390
Net income	25,689	38,390
Other comprehensive income
Change in fair value of derivative instruments	(3,156)	(2,287)
Foreign currency translation adjustments	5,988	4,761
Comprehensive income, before income tax on other comprehensive income items	28,712	40,864
Income tax benefit on other comprehensive income	434	91
Comprehensive income	29,146	40,955
Less: Comprehensive income attributable to non-controlling interests	269	0
Comprehensive income attributable to Callaway Golf Company	$ 28,877	$ 40,955

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Statements - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 25,880	$ 38,390
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	4,319	4,157
Deferred taxes	15,630	0
Share-based compensation	3,218	2,194
Gain on disposal of long-lived assets and deferred gain amortization	(34)	(270)
Unrealized losses on foreign currency forward contracts	3,111	0
Change in assets and liabilities:
Accounts receivable, net	(106,254)	(114,973)
Inventories	20,410	25,625
Other assets	(1,565)	(2,821)
Accounts payable and accrued expenses	(17,692)	(11,793)
Accrued employee compensation and benefits	(8,037)	(11,641)
Accrued warranty expense	550	644
Income taxes receivable/payable	(2,326)	(718)
Other liabilities	(15)	(253)
Net cash used in operating activities	(62,805)	(71,459)
Cash flows from investing activities:
Acquisitions, net of cash acquired	(58,629)	0
Capital expenditures	(6,301)	(4,963)
Proceeds from sales of property and equipment	38	6
Collection of note receivable	0	3,104
Investment in golf-related ventures	0	(1,260)
Net cash used in investing activities	(64,892)	(3,113)
Cash flows from financing activities:
Proceeds from asset-based credit facilities, net	64,988	64,000
Acquisition of treasury stock	(15,369)	(2,878)
Dividends paid	(939)	(941)
Exercise of stock options	484	384
Net cash provided by financing activities	49,164	60,565
Effect of exchange rate changes on cash and cash equivalents	547	(658)
Net decrease in cash and cash equivalents	(77,986)	(14,665)
Cash and cash equivalents at beginning of period	125,975
Cash and cash equivalents at end of period	47,989	35,136
Supplemental disclosures:
Cash paid for income taxes, net	4,460	2,122
Cash paid for interest and fees	494	527
Noncash investing and financing activities:
Issuance of treasury stock for compensatory stock awards released from restriction	3,099	0
Accrued capital expenditures at period-end	$ 1,267	$ 793

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Callaway Golf Company	Non-Controlling Interests
Beginning Balance (in shares) at Dec. 31, 2016		94,214				(98)
Beginning Balance at Dec. 31, 2016	$ 608,600	$ 942	$ 330,206	$ 287,129	$ (18,466)	$ (905)	$ 598,906	$ 9,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of treasury stock (in shares)						(1,435)
Acquisition of treasury stock	(15,369)					$ (15,369)	(15,369)
Exercise of stock options (in shares)		0				70
Exercise of stock options	484	$ 0	(256)			$ 740	484
Compensatory awards released from restriction (in shares)		825				284
Compensatory awards released from restriction		$ 8	(3,107)			$ 3,099
Share-based compensation	3,218		3,218				3,218
Stock dividends (in shares)		4				0
Stock dividends			65	(65)		$ 0
Cash dividends	(939)			(939)			(939)
Equity adjustment from foreign currency translation	5,988				5,719		5,719	269
Change in fair value of derivative instruments	(2,722)				(2,722)		(2,722)
Net income	25,880			25,689			25,689	191
Ending Balance (in shares) at Mar. 31, 2017		95,043				(1,179)
Ending Balance at Mar. 31, 2017	$ 625,140	$ 950	$ 330,126	$ 311,814	$ (15,469)	$ (12,435)	$ 614,986	$ 10,154

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared by Callaway Golf Company (the “Company” or “Callaway Golf”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Commission. These consolidated condensed financial statements, in the opinion of management, include all the normal and recurring adjustments necessary for the fair presentation of the financial position, results of operations and cash flows for the periods and dates presented. Interim operating results are not necessarily indicative of operating results for the full year. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. Recent Accounting Standards In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." This amendment is intended to simplify several aspects of the accounting for share-based payment transactions, including (i) the recognition of excess tax benefits or deficiencies in the operating statement when compensatory stock awards are vested and settled, and the presentation of these tax benefits or deficiencies as an operating cash outflow on the statement of cash flows, (ii) the option to withhold the maximum statutory tax rate on the settlement of compensatory stock without triggering liability accounting, as well as presenting the shares withheld for the settlement of these taxes as a financing outflow on the statement of cash flows, and (iii) the option to elect a change in the accounting policy to account for forfeitures as they occur. The amendment is effective for annual periods beginning after December 15, 2016, and interim periods therein. The Company adopted this ASU using the modified retrospective transition method with respect to the recognition of excess tax benefits in the consolidated condensed statement of operations. The adoption did not result in a cumulative-effect adjustment to equity as of January 1, 2017. The amendment related to the cash flow presentation of shares acquired to satisfy the Company's minimum tax withholding requirements in connection with the settlement of compensatory stock was applied retrospectively as a financing outflow. The adoption had no impact to any periods presented on the consolidated condensed statement of cash flows as these cash outflows have historically been presented as a financing activity. The Company elected not to change its accounting policy on the recognition of estimated forfeitures. In March 2016, the FASB issued ASU No. 2016-04, "Liabilities—Extinguishment of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products." The amendment clarifies when it is acceptable to recognize the unredeemed portion of prepaid gift cards into income, and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated condensed financial statements and disclosures. As of March 31, 2017, the Company had $1,235,000 of deferred revenue related to unredeemed gift cards. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (i) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is currently evaluating the impact this ASU will have on its consolidated condensed financial statements and disclosures. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendment requires (i) equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, (ii) public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and (iii) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). This amendment eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. This amendment is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. As of March 31, 2017, the Company had an investment in Topgolf International, Inc. of $48,997,000 that was accounted for at cost in accordance with ASC Topic 325, “Investments—Other” (see Note 8). If there are any observable price changes related to this investment or a similar investment of the same issuer in fiscal years beginning after December 15, 2017, the Company would be required to write this investment up or down to its estimated fair value, which could have a significant effect on the Company's financial position and results of operations. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." This amendment requires an entity to measure in-scope inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this amendment did not have a material impact on the Company's consolidated condensed financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers: (Topic 606)." This ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, "Revenue Recognition," and most industry-specific guidance. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, "Property, Plant, and Equipment," and intangible assets within the scope of Topic 350, "Intangibles-Goodwill and Other") are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted only for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company does not intend to early adopt the new guidance, and is in the early stages of evaluating the amended revenue recognition guidance in Topic 606. As such, as of March 31, 2017, the Company is unable at this time to provide information on how the adoption of this ASU will affect the Company’s consolidated condensed financial statements and disclosures.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 2. Business Combinations Acquisition of OGIO International, Inc. On January 11, 2017, the Company acquired all of the outstanding shares of capital stock of OGIO International, Inc. (“OGIO”), a leading manufacturer of high quality bags, accessories and apparel in the golf and lifestyle categories, in a cash transaction pursuant to the terms of a Share Purchase Agreement, by and among the Company, OGIO, and each of the shareholders and optionholders of OGIO (the "Purchase Agreement"). The primary reason for the acquisition was to enhance the Company's presence in golf while also providing a platform for future growth in the lifestyle category. The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values as of the date of acquisition in accordance with ASC Topic 820, "Fair Value Measurement." To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is allocated to goodwill. The Company determines the estimated fair values after review and consideration of relevant information, including discounted cash flows, quoted market prices and estimates made by management. The Company may adjust the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as it obtains more information as to facts and circumstances existing as of the acquisition date. The acquired trade names/trademarks, customer and distributor relationships, inventory and non-compete agreements are subject to fair value measurements that were based primarily on significant inputs not observable in the market and thus represent Level 3 measurements (see Note 13). The fair value of furniture, fixtures, office equipment, leasehold improvements, computer equipment and warehouse equipment were all valued using the cost approach. Inventory was valued using the net realizable value approach, which was based on the estimated selling price in the ordinary course of business less reasonable disposal costs and a profit on the disposal efforts. The customer and distributor relationships were valued under the income approach based on the present value of future earnings. The trade name was valued under the royalty savings income approach method, which is equal to the present value of the after-tax royalty savings attributable to owning the trade name as opposed to paying a third party for its use. For this valuation the Company used a royalty rate of 7.5% , which is reflective of royalty rates paid in market transactions, and a discount rate of 14.0% on the future cash flows generated by the net after-tax savings. The goodwill of $5,543,000 arising from the acquisition consists largely of the synergies expected from combining the operations of the Company and OGIO. The Company expects to deduct all of the goodwill for income tax purposes. All of the goodwill was assigned to the gear, accessories and other operating segment. At the acquisition date, the total purchase price was valued at approximately $66,032,000 . The Company incurred transaction costs of approximately $3,052,000 , of which $1,805,000 was recognized in general and administrative expenses during the quarter ended March 31, 2017, and $1,247,000 was recognized in 2016. The pro-forma effects of this acquisition would not have been material to the Company's results of operations in 2016 and are therefore not presented. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands): At January 11, 2017 Assets Acquired Cash $ 8,061 Accounts receivable 8,038 Inventory 7,092 Other current assets 328 Property and equipment 2,369 Intangibles - trade name 49,700 Intangibles - customer lists 1,500 Intangibles - non-compete agreements 150 Goodwill 5,543 Total assets acquired 82,781 Liabilities Assumed Accounts Payable and accrued liabilities 16,749 Net assets acquired $ 66,032

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Financing Arrangements	Note 3. Financing Arrangements In addition to cash on hand, as well as cash generated from operations, the Company relies on its primary and Japan asset-based revolving credit facilities to manage seasonal fluctuations in liquidity and to provide additional liquidity when the Company’s operating cash flows are not sufficient to fund the Company’s requirements. As of March 31, 2017 , the Company had $76,954,000 in borrowings outstanding under all facilities, $834,000 in outstanding letters of credit, and $47,989,000 in cash and cash equivalents. At March 31, 2016, the Company had $78,969,000 in borrowings outstanding under all facilities, $1,007,000 in outstanding letters of credit, and $35,136,000 in cash and cash equivalents. The combined maximum amount that could have been outstanding under all facilities on March 31, 2017 , after letters of credit, was $201,740,000 , resulting in total available liquidity including cash on hand of $249,729,000 compared to the maximum amount that could have been outstanding under all facilities on March 31, 2016 , after letters of credit, of $192,146,000 , resulting in total available liquidity including cash on hand of $227,282,000 . Primary Asset-Based Revolving Credit Facility The Company's primary credit facility is a Loan and Security Agreement with Bank of America N.A. and other lenders (as amended, the “ABL Facility”), which provides a senior secured asset-based revolving credit facility of up to $230,000,000 , comprised of a $160,000,000 U.S. facility, a $25,000,000 Canadian facility and a $45,000,000 United Kingdom facility, in each case subject to borrowing base availability under the applicable facility. The amounts outstanding under the ABL Facility are secured by certain assets, including cash (to the extent pledged by the Company), inventory and accounts receivable of the Company’s subsidiaries in the United States, Canada and the United Kingdom. As of March 31, 2017 , the Company had $59,000,000 in borrowings outstanding under the ABL Facility and $834,000 in outstanding letters of credit. The maximum amount of additional indebtedness (as defined by the ABL Facility) that could have been outstanding on March 31, 2017 , after outstanding borrowings and letters of credit, was approximately $120,558,000 . The maximum availability under the ABL Facility fluctuates with the general seasonality of the business and increases and decreases with changes in the Company’s inventory and accounts receivable balances. The maximum availability is at its highest during the first half of the year when the Company’s inventory and accounts receivable balances are higher and is lower during the second half of the year when the Company's inventory levels decrease and its accounts receivable decrease as a result of cash collections and lower sales. Average outstanding borrowings during the three months ended March 31, 2017 were $41,880,000 , and the average amount available under the ABL Facility during the three months ended March 31, 2017 , after outstanding borrowings and letters of credit, was approximately $100,439,000 . Amounts borrowed under the ABL Facility may be repaid and borrowed as needed. The entire outstanding principal amount (if any) is due and payable on June 23, 2019 . The ABL Facility includes certain restrictions including, among other things, restrictions on the incurrence of additional debt, liens, stock repurchases and other restricted payments, asset sales, investments, mergers, acquisitions and affiliate transactions. In addition, the ABL Facility imposes restrictions on the amount the Company could pay in annual cash dividends, including meeting certain restrictions on the amount of additional indebtedness and requirements to maintain a certain fixed charge coverage ratio under certain circumstances. The "fixed charge coverage ratio" is the ratio of the 12-month trailing EBITDA (as defined in the ABL Facility) adjusted for capital expenditures and taxes paid to interest expense and certain distributions paid in the trailing 12-month period adjusted for debt amortization, if any. These restrictions do not materially limit the Company's ability to pay future dividends at the current dividend rate. As of March 31, 2017 , the maximum amount that the Company could have paid out in dividends was $86,058,000 . As of March 31, 2017 , the Company was in compliance with all financial covenants of the ABL Facility. Additionally, the Company is subject to compliance with a fixed charge coverage ratio covenant during, and continuing 30 days after, any period in which the Company’s borrowing base availability, as amended, falls below $23,000,000 . The Company’s borrowing base availability was above $23,000,000 during the three months ended March 31, 2017 , and the Company was in compliance with the fixed charge coverage ratio as of March 31, 2017 . Had the Company not been in compliance with the fixed charge coverage ratio as of March 31, 2017 , the Company's maximum amount of additional indebtedness that could have been outstanding on March 31, 2017 would have been reduced by $23,000,000 . The interest rate applicable to outstanding loans under the ABL Facility fluctuates depending on the Company’s “availability ratio," which is expressed as a percentage of (i) the average daily availability under the ABL Facility to (ii) the sum of the Canadian, the U.K. and the U.S. borrowing bases, as adjusted. The applicable margin for any month could be reduced by 0.25% if the Company’s availability ratio is greater than or equal to 67% and the Company’s “leverage ratio” (as defined below) is less than 4.0 to 1.0 as of the last day of the month for which financial statements have been delivered, so long as no default or event of default exists. The Company’s “leverage ratio” is the ratio of the amount of debt for borrowed money to the 12-month trailing EBITDA (as defined in the ABL Facility), each determined on a consolidated basis. At March 31, 2017 , the Company’s trailing 12 month average interest rate applicable to its outstanding loans under the ABL Facility, including the fees described below, was 2.58% . The ABL Facility provides for monthly fees ranging from 0.25% to 0.375% of the unused portion of the ABL Facility, depending on the prior month’s average daily balance of revolver loans and stated amount of letters of credit relative to lenders’ commitments. The fees incurred in connection with the origination and amendment of the ABL Facility totaled $5,007,000 , which are amortized into interest expense over the term of the ABL Facility agreement. Unamortized fees at March 31, 2017 and December 31, 2016 totaled $1,183,000 and $1,297,000 , respectively, of which $526,000 and $519,000 were included in other current assets, respectively, and $657,000 and $778,000 were included in other assets, respectively, in the accompanying consolidated condensed balance sheets. Japan ABL Facilities The Company has a separate asset-based loan and guarantee agreement, as amended, between its subsidiary in Japan and The Bank of Tokyo-Mitsubishi UFG, Ltd and The Development Bank of Japan, which provides a credit facility of up to 2,000,000,000 Yen (or U.S. $17,954,000 , using the exchange rate in effect as of March 31, 2017 ) over a two -year term, subject to borrowing base availability under the facility. The amounts outstanding are secured by certain assets, including eligible inventory. The Company had 1,000,000,000 Yen (or U.S. $8,977,000 ) in borrowings outstanding under this facility as of March 31, 2017 . The maximum amount that could have been outstanding at March 31, 2017 was 1,470,958,000 Yen (or U.S. $13,205,000 ). This facility is subject to an effective interest rate equal to TIBOR plus 0.25% . At March 31, 2017 , the trailing 12-month average interest rate applicable to the Company's outstanding loans under this facility together with fees was 0.31% and includes certain restrictions including covenants related to certain pledged assets and financial performance metrics. As of March 31, 2017 , the Company was in compliance with these covenants. During the first quarter of 2017, the Company entered into a second asset-based loan between its subsidiary in Japan and The Bank of Tokyo-Mitsubishi UFG, Ltd, which provides a credit facility of up to 1,000,000,000 Yen (or U.S. $8,977,000 ) over a 10 -month term, subject to borrowing base availability under the facility. The amounts outstanding are secured by certain assets, including eligible accounts receivable. The Company had 1,000,000,000 Yen (or U.S. $8,977,000 ) in borrowings outstanding under this facility as of March 31, 2017, which was the maximum amount that could have been outstanding at March 31, 2017. This facility is subject to an effective interest rate equal to TIBOR plus 0.75% . At March 31, 2017, the trailing 12-month average interest rate applicable to the Company's outstanding loans under this facility was 0.82% and includes certain restrictions including covenants related to certain pledged assets and financial performance metrics. As of March 31, 2017, the Company was in compliance with these covenants. Collectively, we refer to both facilities described above as the "Japan ABL Facilities."

Earnings (Loss) per Common Shar

Earnings (Loss) per Common Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings (Loss) per Common Share	Note 4. Earnings per Common Share Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if convertible securities, or other contracts to issue common stock, were exercised or converted into common stock. Dilutive securities are included in the calculation of diluted earnings per common share using the treasury stock method and the if-converted method in accordance with Accounting Standards Codification ("ASC") Topic 260, “Earnings per Share.” Dilutive securities include options granted pursuant to the Company’s stock option plans and outstanding restricted stock units and performance share units granted to employees and non-employee directors (see Note 12 ). Weighted-average common shares outstanding—diluted is the same as weighted-average common shares outstanding—basic in periods when a net loss is reported or in periods when anti-dilution occurs. The following table summarizes the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended 2017 2016 Earnings per common share—basic Net income attributable to Callaway Golf Company $ 25,689 $ 38,390 Less: Preferred stock dividends 191 — Net income (loss) allocable to common shareholders $ 25,689 $ 38,390 Weighted-average common shares outstanding—basic 94,070 93,952 Basic earnings per common share $ 0.27 $ 0.41 Earnings per common share—diluted Net income attributable to Callaway Golf Company $ 25,689 $ 38,390 Weighted-average common shares outstanding—basic 94,070 93,952 Options and restricted stock 1,878 1,472 Weighted-average common shares outstanding—diluted 95,948 95,424 Dilutive earnings per common share $ 0.27 $ 0.40 For the three months ended March 31, 2017 and 2016, securities outstanding totaling approximately 152,000 shares and 413,000 shares, respectively, comprised of stock options and restricted stock units, have been excluded from the calculation of earnings per common share—diluted as their effect would be antidilutive.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories are summarized below (in thousands): March 31, December 31, 2016 Inventories: Raw materials $ 49,283 $ 46,451 Work-in-process 1,273 739 Finished goods 128,464 142,210 $ 179,020 $ 189,400

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6. Goodwill and Intangible Assets Goodwill and intangible assets, which consist of trade names, trademarks, trade dress, patents and other intangible assets, were acquired in connection with the acquisition of Odyssey Sports, Inc. in 1997, FrogTrader, Inc. in 2004, OGIO in 2017 (see Note 2 ) and certain foreign distributors. Internally developed intangible assets are expensed as incurred. The Company’s goodwill and acquired intangible assets with indefinite lives are not amortized, but are subject to an annual impairment test. The Company performs an impairment analysis on its goodwill and intangible assets at least annually and whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. Acquired intangible assets with definite lives are amortized over their estimated useful lives and are tested for impairment only when impairment indicators are present. Goodwill at March 31, 2017 and December 31, 2016 was $31,313,000 and $25,593,000 , respectively. During the three months ended March 31, 2017 , the Company recorded an addition to goodwill of $5,543,000 as a result of the OGIO acquisition completed in January 2017. In addition, the goodwill balance increased $177,000 due to foreign currency fluctuations during the period. The following sets forth the intangible assets by major asset class (dollars in thousands): Useful Life (Years) March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Non-Amortizing: Trade name, trademark and trade dress and other NA $ 138,290 $ — $ 138,290 $ 88,590 $ — $ 88,590 Amortizing: Patents 2-16 31,581 31,453 128 31,581 31,440 141 Developed technology and other 1-9 9,631 8,026 1,605 7,981 7,981 — Total intangible assets $ 179,502 $ 39,479 $ 140,023 $ 128,152 $ 39,421 $ 88,731 The increase in intangible assets is related to the acquisition of non-amortizing trademarks in addition to amortizing intangibles in connection with the OGIO acquisition. Aggregate amortization expense related to intangible assets was approximately $58,000 and $13,000 for the three months ended March 31, 2017 and 2016, respectively. Amortization expense related to intangible assets at March 31, 2017 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands): Remainder of 2017 $ 188 2018 251 2019 238 2020 151 2021 150 2022 150 Thereafter 605 $ 1,733

Joint Venture

Joint Venture	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Joint Venture	Note 7. Joint Venture Effective July 1, 2016, the Company completed a joint venture with its long-time apparel licensee, TSI Groove & Sports Co, Ltd., ("TSI"), a premier apparel manufacturer in Japan. The new venture is named Callaway Apparel K.K. and includes the design, manufacture and distribution of Callaway-branded apparel, footwear and headwear in Japan. The Company contributed $10,556,000 , primarily in cash, for a 52% ownership of the joint venture, and TSI contributed $9,744,000 , primarily in inventory, for the remaining 48% . The Company has a majority voting percentage on matters pertaining to the business operations and significant management decisions of the joint venture, and as such, the Company is required to consolidate the financial results of the joint venture with the financial results of the Company. The joint venture is consolidated one month in arrears. As a result of the consolidation, during the three months ended March 31, 2017 , the Company recorded net income attributable to the non-controlling interest of $191,000 in its consolidated condensed statement of operations. At March 31, 2017 , the Company recognized a non-controlling interest of $10,154,000 in its consolidated condensed balance sheet and consolidated condensed statement of shareholders' equity.

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments, All Other Investments [Abstract]
Investments	Note 8. Investments Investment in Topgolf International, Inc. The Company owns a minority interest in Topgolf International, Inc., doing business as the Topgolf Entertainment Group (“Topgolf”), the owner and operator of Topgolf entertainment centers, which ownership consists of common stock and various classes of preferred stock. In connection with this investment, the Company has a preferred partner agreement with Topgolf in which the Company has preferred signage rights, rights as the preferred supplier of golf products used or offered for use at Topgolf facilities at prices no less than those paid by the Company’s customers, preferred retail positioning in Topgolf retail stores, access to consumer information obtained by Topgolf, and other rights incidental to those listed above. The Company did not make any additional investment in Topgolf during the three months ended March 31, 2017. During the three months ended March 31, 2016, the Company invested an additional $1,260,000 in preferred shares of Topgolf. In addition, in December 2015, the Company and Topgolf entered into a shareholder loan agreement, which resulted in a note receivable from Topgolf for $3,200,000 . The loan was subject to an annual interest rate of 10.0% and was due and payable on March 30, 2016. The loan was paid in full in February 2016. In February 2016, Topgolf announced that Providence Equity Partners L.L.C. (“Providence Equity”) made a significant minority preferred stock investment in Topgolf (the “Providence Equity Investment”). As required by the terms of the Providence Equity Investment, Topgolf used a portion of the proceeds it received to repurchase shares from its existing shareholders, other than Providence Equity (the “Topgolf Repurchase Program”). In April 2016, the Company sold approximately 10.0% or $5,767,000 (on a cost basis) of its preferred shares in Topgolf under the Topgolf Repurchase Program for $23,429,000 , and recognized a gain of approximately $17,662,000 in other income (expense) during the second quarter of 2016. As of each of March 31, 2017 and December 31, 2016, the Company's total investment in Topgolf was $48,997,000 . The Company's ownership percentage at March 31, 2017 was approximately 15.0% . As of March 31, 2017, there were no impairment indicators present with respect to this investment. The Company was unable to estimate the fair value of this investment as of March 31, 2017, as it was not practicable to do so and there were no identified events or changes in circumstances that had a significant adverse effect on the fair value. In fiscal years beginning after December 15, 2017, in accordance with Subtopic 825-10 issued in January 2016, the Company would be required to write this investment up or down to its estimated fair value, which could have a significant effect on the Company's financial position and results of operations. For further discussion, see "Recent Accounting Standards in Note 1. The Company’s total ownership interest in Topgolf, including the Company's voting rights in the preferred shares of Topgolf, remains at less than 20.0% of the outstanding equity securities of Topgolf. As of March 31, 2017 , the Company did not have the ability to significantly influence the operating and financing activities and policies of Topgolf, and accordingly, the Company’s investment in Topgolf is accounted for at cost in accordance with ASC Topic 325, “Investments—Other.”

Product Warranty

Product Warranty	3 Months Ended
	Mar. 31, 2017
Guarantees [Abstract]
Product Warranty	Note 9. Product Warranty The Company has a stated two -year warranty policy for its golf clubs. The Company’s policy is to accrue the estimated cost of satisfying future warranty claims at the time the sale is recorded. In estimating its future warranty obligations, the Company considers various relevant factors, including the Company’s stated warranty policies and practices, the historical frequency of claims, and the cost to replace or repair its products under warranty. The following table provides a reconciliation of the activity related to the Company’s reserve for accrued warranty expense (in thousands): Three Months Ended 2017 2016 Beginning balance $ 5,395 $ 5,706 Provision 1,922 1,737 Claims paid/costs incurred (1,372 ) (1,093 ) Ending balance $ 5,945 $ 6,350

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes The Company calculates its interim income tax provision in accordance with ASC 270, “Interim Reporting,” and ASC 740 “Accounting for Income Taxes” (together, “ASC 740”). At the end of each interim period, the Company estimates its annual effective tax rate and applies that rate to its ordinary quarterly earnings to calculate the tax related to ordinary income. The tax effects for other items that are excluded from ordinary income are discretely calculated and recognized in the period in which they occur. The realization of deferred tax assets, including loss and credit carryforwards, is subject to the Company generating sufficient taxable income during the periods in which the deferred tax assets become realizable. Due to the Company’s improved profitability in 2015 and 2016, combined with future projections of profitability, the Company determined that the majority of its U.S. deferred tax assets were more likely than not to be realized and reversed a significant portion of the valuation allowance against those deferred tax assets as of December 31, 2016. The remaining valuation allowance on the Company’s U.S. deferred tax assets as of March 31, 2017 primarily relates to state net operating loss carryforwards and credits the Company estimates it may not be able to utilize in future periods. With respect to non-U.S. entities, there continues to be sufficient positive evidence to conclude that realization of its deferred tax assets is more likely than not under applicable accounting rules, and therefore no significant valuation allowances have been established. The income tax provision for the three months ended March 31, 2017 and 2016 was $13,206,000 and $1,401,000 , respectively. The increase was primarily due to the recognition of income tax expense on the Company’s U.S. operations during the first quarter of 2017 as a result of the reversal of a significant portion of the valuation allowance on the Company's deferred tax assets in the U.S in the fourth quarter of 2016. During the first quarter of 2016, the Company's full valuation allowance established against the Company's U.S. deferred tax assets resulted in minimal U.S. tax expense recorded for the quarter. At March 31, 2017 , the gross liability for income taxes associated with uncertain tax positions was $8,512,000 . Of this amount, $1,337,000 would benefit the Company’s consolidated condensed financial statements and effective income tax rate if favorably settled. The unrecognized tax benefit liabilities are expected to decrease by approximately $150,000 during the next 12 months. The gross liability for uncertain tax positions increased by $256,000 for the three months ended March 31, 2017 . The increase was primarily due to increases for tax positions expected to be taken in the current tax year. The Company recognizes interest and penalties related to income tax matters in income tax expense. For the three months ended March 31, 2017 and 2016 , the Company's provision for income taxes includes expense of $47,000 and a benefit of $24,000 , respectively, related to the recognition of interest and penalties. As of March 31, 2017 and December 31, 2016 , the gross amount of accrued interest and penalties included in income taxes payable in the accompanying consolidated condensed balance sheets was $1,364,000 and $1,317,000 , respectively. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is generally no longer subject to income tax examinations by tax authorities in the following major jurisdictions: Tax Jurisdiction Years No Longer Subject to Audit U.S. federal 2010 and prior California (United States) 2008 and prior Canada 2009 and prior Japan 2009 and prior South Korea 2011 and prior United Kingdom 2012 and prior Pursuant to Section 382 of the Internal Revenue Code, use of the Company's net operating losses and credit carry-forwards may be limited significantly if the Company were to experience a cumulative change in ownership of the Company's stock by “5-percent shareholders” that exceeds 50% over a rolling three-year period. The Company does not believe there has been a cumulative change in ownership in excess of 50% during any rolling three-year period, and the Company continues to monitor changes in its ownership. If such a cumulative change did occur in any three-year period and the Company were limited in the amount of losses it could use to offset taxable income, the Company's results of operations and cash flows could be adversely impacted.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments & Contingencies Legal Matters The Company is subject to routine legal claims, proceedings and investigations incident to its business activities, including claims, proceedings, and investigations relating to commercial disputes and employment matters. The Company also receives from time to time information claiming that products sold by the Company infringe or may infringe patent, trademark or other intellectual property rights of third parties. One or more such claims of potential infringement could lead to litigation, the need to obtain licenses, the need to alter a product to avoid infringement, a settlement or judgment or some other action or material loss by the Company, which also could adversely affect the Company’s overall ability to protect its product designs and ultimately limit its future success in the marketplace. In addition, the Company is occasionally subject to non-routine claims, proceedings or investigations. The Company regularly assesses such matters to determine the degree of probability that the Company will incur a material loss as a result of such matters as well as the range of possible loss. An estimated loss contingency is accrued in the Company’s financial statements if it is probable the Company will incur a loss and the amount of the loss can be reasonably estimated. The Company reviews all claims, proceedings and investigations at least quarterly and establishes or adjusts any accruals for such matters to reflect the impact of negotiations, settlements, advice of legal counsel and other information and events pertaining to a particular matter. All legal costs associated with such matters are expensed as incurred. Historically, the claims, proceedings and investigations brought against the Company, individually and in the aggregate, have not had a material adverse effect on the consolidated results of operations, cash flows or financial position of the Company. The Company believes that it has valid legal defenses to the matters currently pending against the Company. These matters are inherently unpredictable and the resolutions of these matters are subject to many uncertainties and the outcomes are not predictable with assurance. Consequently, management 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. In addition, the Company cannot assure that it will be able to successfully defend itself in those matters or that any amounts accrued are sufficient. The Company does not believe that the matters currently pending against the Company will have a material adverse effect on the Company’s consolidated business, financial condition, cash flows or results of operations. Unconditional 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, as well as endorsement agreements with professional golfers and other endorsers, employment and consulting agreements, and intellectual property licensing agreements pursuant to which the Company is required to pay royalty fees. It is not possible to determine the amounts the Company will ultimately be required to pay under these agreements as they are subject to many variables including performance-based bonuses, severance arrangements, the Company’s sales levels, and reductions in payment obligations if designated minimum performance criteria are not achieved. As of March 31, 2017 , the Company has entered into many of these contractual agreements with terms ranging from one to six years. The minimum obligation that the Company is required to pay under these agreements is $78,255,000 over the next six years. In addition, the Company also enters into unconditional purchase obligations with various vendors and suppliers of goods and services in the normal course of operations through purchase orders or other documentation or that are undocumented except for an invoice. Such unconditional purchase obligations are generally outstanding for periods less than a year and are settled by cash payments upon delivery of goods and services and are not reflected in this total. Future minimum commitments as of March 31, 2017 , are as follows (in thousands): Remainder of 2017 $ 47,123 2018 16,401 2019 8,725 2020 3,593 2021 2,407 2022 6 $ 78,255 Other Contingent Contractual Obligations During its normal course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These include (i) intellectual property indemnities to the Company’s customers and licensees in connection with the use, sale and/or license of Company product or trademarks, (ii) indemnities to various lessors in connection with facility leases for certain claims arising from such facilities or leases, (iii) indemnities to vendors and service providers pertaining to the goods and services provided to the Company or based on the negligence or willful misconduct of the Company and (iv) indemnities involving the accuracy of representations and warranties in certain contracts. In addition, the Company has consulting agreements that provide for payment of nominal fees upon the issuance of patents and/or the commercialization of research results. The Company has also issued guarantees in the form of standby letters of credit of $834,000 as of March 31, 2017 . The duration of these indemnities, commitments and guarantees varies, and in certain cases, may be indefinite. The majority of these indemnities, commitments and guarantees do not provide for any limitation on the maximum amount of future payments the Company could be obligated to make. Historically, costs incurred to settle claims related to indemnities have not been material to the Company’s financial position, results of operations or cash flows. In addition, the Company believes the likelihood is remote that payments under the commitments and guarantees described above will have a material effect on the Company’s financial condition. The fair value of indemnities, commitments and guarantees that the Company issued during the three months ended March 31, 2017 was not material to the Company’s financial position, results of operations or cash flows. Employment Contracts In addition, the Company has made contractual commitments to each of its officers and certain other employees providing for severance payments, including salary continuation, upon the termination of employment by the Company without substantial cause or by the officer for good reason or non-renewal. In addition, in order to assure that the officers would continue to provide independent leadership consistent with the Company’s best interest, the contracts also generally provide for certain protections in the event of a change in control of the Company. These protections include the payment of certain severance benefits, such as monetary payments and health benefits, upon the termination of employment following a change in control.

Share-Based Employee Compensati

Share-Based Employee Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Employee Compensation	Note 12. Share-Based Employee Compensation As of March 31, 2017 , the Company had two shareholder approved stock plans under which shares were available for equity-based awards: the Callaway Golf Company Amended and Restated 2004 Incentive Plan (the "2004 Incentive Plan") and the 2013 Non-Employee Directors Stock Incentive Plan (the "2013 Directors Plan"). From time to time, the Company grants stock options, restricted stock units, phantom stock units, stock appreciation rights and other awards under these plans. The table below summarizes the amounts recognized in the financial statements for the three months ended March 31, 2017 and 2016 for share-based compensation, including expense for stock options, restricted stock units, phantom stock units, cash settled stock appreciation rights and performance share units. Three Months Ended 2017 2016 (In thousands) Cost of sales $ 217 $ 142 Operating expenses 2,968 1,910 Total cost of share-based compensation included in income, before income tax $ 3,185 $ 2,052 Stock Options Stock options granted under the 2004 Incentive Plan are valued using the Black-Scholes option-pricing model on the date of grant. The model uses various assumptions, including a risk-free interest rate, the estimated term of the options, the estimated stock price volatility, and the estimated dividend yield. Compensation expense for stock options is recognized over the vesting period and is reduced by an estimate for forfeitures, which is based on the Company’s historical forfeitures of unvested options and awards. There were no stock options granted during the first three months of 2017 or 2016. Total compensation expense recognized for stock options during the three months ended March 31, 2017 and 2016 was $8,000 and $121,000 , respectively. At March 31, 2017 , the total amount of unamortized expense related to stock options was $39,000 , which will be recognized over a weighted-average period of 1.2 years. Restricted Stock Units Restricted stock units awarded under the 2004 Incentive Plan and the 2013 Directors Plan are recorded at the Company’s closing stock price on the date of grant. Restricted stock units generally vest over a one - to three -year period. Compensation expense for restricted stock units is recognized over the vesting period and is reduced by an estimate for forfeitures. During the three months ended March 31, 2017 and 2016, the Company granted 465,000 and 493,000 shares underlying restricted stock units, respectively, at a weighted average grant-date fair value of $10.13 and $8.61 , respectively. Total compensation expense, net of estimated forfeitures, recognized for restricted stock units during the three months ended March 31, 2017 and 2016 was $1,221,000 and $1,040,000 , respectively. At March 31, 2017 , the Company had $10,285,000 of total unamortized compensation expense related to non-vested restricted stock units under the Company’s share-based payment plans. That cost is expected to be recognized over a weighted-average period of 2.7 years . Performance Share Units Performance share units granted under the 2004 Incentive Plan are stock-based awards in which the number of shares ultimately received depends on the Company's performance against specified metrics over a one - to three -year performance period from the date of grant. These performance metrics are established by the Company at the beginning of the performance period. At the end of the performance period, the number of shares of stock that could be issued is fixed based upon the degree of achievement of the performance goals. The number of shares that could be issued can range from 0% to 200% of the participant's target award. Performance share units are initially valued at the Company's closing stock price on the date of grant. Compensation expense, net of estimated forfeitures, is recognized over the vesting period and will vary based on the anticipated performance level during the performance period. If the performance metrics are not probable of achievement during the performance period, compensation expense would be reversed. The awards are forfeited if the threshold performance metrics are not achieved as of the end of the performance period. The performance units cliff-vest in full on the third anniversary of the date of grant. The Company granted 370,000 and 420,000 shares underlying performance units during the three months ended March 31, 2017 and 2016, respectively, at a weighted average grant-date fair value of $10.10 and $8.61 per share, respectively. The awards granted in 2017 and 2016 are subject to a three -year performance period provided that (i) if certain first year performance goals are achieved, the participant could earn up to 50% of the three-year target award shares, subject to continued service through the vesting date, and (ii) if certain cumulative first and second year performance goals are achieved, the participant could earn up to an aggregate of 80% of the three-year target award shares (which includes any shares earned during the first year), subject to continued service through the vesting date. Based on the Company’s performance in 2016, participants earned a minimum of 50% of the target award shares granted in 2016, subject to continued service through the vesting date. During the three months ended March 31, 2017 and 2016, the Company recognized total compensation expense, net of estimated forfeitures, for performance share units of $1,988,000 and $1,033,000 , respectively. At March 31, 2017 , unamortized compensation expense related to these awards was $9,167,000 , which is expected to be recognized over a weighted-average period of 1.8 years. Stock Appreciation Rights Cash settled stock appreciation rights ("SARs") granted under the 2004 Incentive Plan are valued using the Black-Scholes option-pricing model on the date of grant. SARs are subsequently remeasured at each interim reporting period based on a revised Black-Scholes value until they are exercised. SARs generally vest over a three -year period. As of March 31, 2017 , all outstanding SARs were fully vested. There were no SARs granted during the first three months of 2017 or 2016. The Company reversed $32,000 and $143,000 of compensation expense related to previously granted SARs during the three months ended March 31, 2017 and 2016, respectively. Accrued compensation expense for these awards was $0 and $224,000 at March 31, 2017 and December 31, 2016, respectively, which was recorded in accrued employee compensation and benefits in the accompanying consolidated condensed balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 13. Fair Value of Financial Instruments Certain of the Company’s financial assets and liabilities are measured at fair value on a recurring and nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or the price paid to transfer a liability (the exit price) in the principal and most advantageous market for the asset or liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified using the following three-tier hierarchy: Level 1 : Quoted market prices in active markets for identical assets or liabilities; Level 2 : Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 : Fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following table summarizes the valuation of the Company’s foreign currency forward contracts (see Note 14 ) that are measured at fair value on a recurring basis by the above pricing levels at March 31, 2017 and December 31, 2016 (in thousands): Fair Value Level 1 Level 2 Level 3 March 31, 2017 Foreign currency forward contracts—asset position $ 1,234 $ — $ 1,234 $ — Foreign currency forward contracts—liability position (4,978 ) — (4,978 ) — $ (3,744 ) $ — $ (3,744 ) $ — December 31, 2016 Foreign currency forward contracts—asset position $ 3,524 $ — $ 3,524 $ — Foreign currency forward contracts—liability position (85 ) — (85 ) — $ 3,439 $ — $ 3,439 $ — The fair value of the Company’s foreign currency forward contracts is based on observable inputs that are corroborated by market data. Observable inputs include broker quotes, daily market foreign currency rates and forward pricing curves. Remeasurement gains and losses on foreign currency forward contracts designated as cash flow hedges are recorded in other comprehensive income, and in other income (expense) for non-designated foreign currency forward contracts (see Note 14). Disclosures about the Fair Value of Financial Instruments The carrying values of cash and cash equivalents at March 31, 2017 and December 31, 2016 are categorized within Level 1 of the fair value hierarchy due to the short-term nature of these balances. The table below illustrates information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated balance sheets as of March 31, 2017 and December 31, 2016 , as well as the fair value of contingent contracts that represent financial instruments (in thousands). March 31, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Primary Asset-Based Revolving Credit Facility (1) $ 59,000 $ 59,000 $ — $ — Japan ABL Facilities (1) $ 17,954 $ 17,954 $ 11,966 $ 11,966 Standby letters of credit (2) $ 834 $ 834 $ 823 $ 823 Money market funds (3) $ — $ — $ 69,081 $ 69,081 (1) The carrying value of the amount outstanding under the Company's ABL Facility and Japan ABL Facilities approximates the fair value due to the short-term nature of these obligations. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 2 for information on the Company's credit facilities, including certain risks and uncertainties related thereto. (2) The carrying value of the Company's standby letters of credit approximates the fair value as they represent the Company’s contingent obligation to perform in accordance with the underlying contracts. There were no amounts outstanding under these letters of credit as of March 31, 2017 and December 31, 2016 . The fair value of this contingent obligation is categorized within Level 2 of the fair value hierarchy. (3) The carrying value of the money market funds approximates fair value as the funds are highly liquid and short-term in nature. The funds seek to maintain a stable net asset value of $1.00 per share, and the market value per share of these funds are available in active markets. As such, they are categorized within Level 1 of the fair value hierarchy. The money market funds accrue dividends, which are reinvested and reflected in the carrying value as of December 31, 2016. Nonrecurring Fair Value Measurements The Company measures certain assets at fair value on a nonrecurring basis at least annually or when certain indicators are present. These assets include long-lived assets, goodwill and non-amortizing intangible assets that are written down to fair value when they are held for sale or determined to be impaired. During each of the three months ended March 31, 2017 and 2016 , the Company did not have any significant assets or liabilities that were measured at fair value on a nonrecurring basis in periods subsequent to initial recognition.

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Note 14. Derivatives and Hedging In the normal course of business, the Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to transactions of its international subsidiaries. As part of its strategy to manage the level of exposure to the risk of fluctuations in foreign currency exchange rates, the Company uses designated cash flow hedges and non-designated hedges in the form of foreign currency forward contracts to mitigate the impact of foreign currency translation on transactions that are denominated primarily in Japanese Yen, British Pounds, Euros, Canadian Dollars, Australian Dollars and Korean Won. The Company accounts for its foreign currency forward contracts in accordance with ASC Topic 815, "Derivatives and Hedging ("ASC Topic 815"). ASC Topic 815 requires the recognition of all derivative instruments as either assets or liabilities on the balance sheet, the measurement of those instruments at fair value and the recognition of changes in the fair value of derivatives in earnings in the period of change, unless the derivative qualifies as a designated cash flow hedge that offsets certain exposures. Certain criteria must be satisfied in order for derivative financial instruments to be classified and accounted for as a cash flow hedge. Gains and losses from the remeasurement of qualifying cash flow hedges are recorded as a component of other comprehensive income and released into earnings as a component of cost of goods sold or net sales during the period in which the hedged transaction takes place. Gains and losses on the ineffective portion of hedges (hedges that do not meet accounting requirements due to ineffectiveness) and derivatives that are not elected for hedge accounting treatment are immediately recorded in earnings as a component of other income (expense). Foreign currency forward contracts are used only to meet the Company’s objectives of minimizing variability in the Company’s operating results arising from foreign exchange rate movements. The Company does not enter into foreign currency forward contracts for speculative purposes. The Company utilizes counterparties for its derivative instruments that it believes are credit-worthy at the time the transactions are entered into and the Company closely monitors the credit ratings of these counterparties. The following table summarizes the fair value of the Company's foreign currency forward contracts as well as the location of the asset and/or liability on the consolidated condensed balance sheets at March 31, 2017 and December 31, 2016 (in thousands): Asset Derivatives March 31, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Other current assets $ 946 Other current assets $ 2,660 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 288 Other current assets $ 864 Liability Derivatives March 31, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 1,478 Accounts payable and accrued expenses $ 28 Derivatives not designated as hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 3,500 Accounts payable and accrued expenses $ 57 The Company's foreign currency forward contracts are subject to a master netting agreement with each respective counterparty bank and are therefore net settled at their maturity date. Although the Company has the legal right of offset under the master netting agreements, the Company has elected not to present these contracts on a net settlement amount basis, and therefore present these contracts on a gross basis on the accompanying consolidated condensed balance sheets at March 31, 2017 and December 31, 2016 . Cash Flow Hedging Instruments Beginning in January 2015, the Company entered into foreign currency forward contracts designated as qualifying cash flow hedging instruments to help mitigate the Company's foreign currency exposure on intercompany sales of inventory to its foreign subsidiaries. These contracts generally mature within 12 to 15 months from their inception. At March 31, 2017 and December 31, 2016 , the notional amounts of the Company's foreign currency forward contracts designated as cash flow hedge instruments were approximately $43,506,000 and $27,325,000 , respectively. The reporting of gains and losses on these cash flow hedging instruments depends on whether the gains or losses are effective at offsetting changes in the cash flows of the underlying hedged items. The Company uses the critical terms and short cut method to measure the effectiveness of the foreign currency forward contracts and evaluates the effectiveness on a quarterly basis. The effective portion of the gains and losses on the hedging instruments are recorded in other comprehensive income until recognized in earnings during the period that the hedged transactions take place. Any ineffective portion of the gains and losses from the hedging instruments is recognized in earnings immediately. The Company would discontinue hedge accounting prospectively (i) if it is determined that the derivative is no longer effective in offsetting changes in the cash flows of a hedged item, (ii) when the derivative expires or is sold, terminated, or exercised, (iii) if it becomes probable that the forecasted transaction being hedged by the derivative will not occur, (iv) if a hedged firm commitment no longer meets the definition of a firm commitment, or (v) if it is determined that designation of the derivative as a hedge instrument is no longer appropriate. The Company estimates the fair value of its foreign currency forward contracts based on pricing models using current market rates. These contracts are classified under Level 2 of the fair value hierarchy (see Note 13 ). As of March 31, 2017 , the Company recorded a net loss of $2,254,000 in other comprehensive income (loss) related to its hedging activities. Of this amount, net gains of $902,000 were relieved from other comprehensive income and recognized in cost of goods sold for the underlying intercompany sales that were recognized. There were no ineffective gains or losses recognized during the three months ended March 31, 2017 . Gains on forward points of $155,000 were expensed as incurred for the three months ended March 31, 2017 . Based on the current valuation, the Company expects to reclassify net losses of $678,000 from accumulated other comprehensive income (loss) into net earnings during the next 12 months. The Company recognized net gains of $579,000 and $365,000 in cost of goods sold and net sales, respectively, for the three months ended March 31, 2016. The following tables summarize the net effect of all cash flow hedges on the consolidated condensed financial statements for the three months ended March 31, 2017 (in thousands): Loss Recognized in Other Comprehensive Income (Effective Portion) Three Months Ended Derivatives designated as cash flow hedging instruments 2017 2016 Foreign currency forward contracts $ (2,254 ) $ (1,671 ) Gain Reclassified from Other Comprehensive Income into Earnings (Effective Portion) Three Months Ended Derivatives designated as cash flow hedging instruments 2017 2016 Foreign currency forward contracts $ 902 $ 214 The following table details the amounts reclassified from accumulated other comprehensive loss to cost of goods sold, as well as changes in foreign currency translation for the three months ended March 31, 2017 . Amounts are in thousands. Accumulated other comprehensive loss, December 31, 2016 $ (18,466 ) Change in fair value of derivative instruments (2,254 ) Net gains reclassified from accumulated other comprehensive income to cost of goods sold (902 ) Foreign currency translation adjustments 5,988 Accumulated other comprehensive loss, March 31, 2017, before tax (15,634 ) Income tax expense related to items of other comprehensive income 434 Less: Comprehensive income attributable to non-controlling interest (269 ) Accumulated other comprehensive loss, March 31, 2017, after tax and non-controlling interest $ (15,469 ) Foreign Currency Forward Contracts Not Designated as Hedging Instruments The Company uses foreign currency forward contracts that are not designated as qualifying cash flow hedging instruments to mitigate certain balance sheet exposures (payables and receivables denominated in foreign currencies), as well as gains and losses resulting from the translation of the operating results of the Company’s international subsidiaries into U.S. dollars for financial reporting purposes. These contracts generally mature within 12 months from their inception. At March 31, 2017 and December 31, 2016, the notional amounts of the Company’s foreign currency forward contracts used to mitigate the exposures discussed above were approximately $127,824,000 and $14,821,000 , respectively. The increase in foreign currency forward contracts reflects the general timing of when the Company enters into these contracts. The Company estimates the fair values of foreign currency forward contracts based on pricing models using current market rates, and records all derivatives on the balance sheet at fair value with changes in fair value recorded in the statement of operations. The foreign currency contracts are classified under Level 2 of the fair value hierarchy (see Note 13 ). The following table summarizes the location of net gains and losses in the consolidated condensed statements of operations that were recognized during the three months ended March 31, 2017 and 2016, respectively (in thousands): Location of Net Loss Recognized in Income on Derivative Instruments Amount of Net Loss Recognized in Income on Derivative Instruments Derivatives not designated as hedging instruments Three Months Ended 2017 2016 Foreign currency forward contracts Other income (expense), net $ (5,175 ) $ (6,312 ) In addition, for the three months ended March 31, 2017 and 2016, the Company recognized net foreign currency gains related to transactions with its foreign subsidiaries of $675,000 and $1,312,000 , respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Note 15. Segment Information As a result of the Company's recently completed apparel joint venture in Japan in July 2016, as well as the Company's recent acquisition of OGIO in January 2017, the Company reassessed its operating segments during the first quarter of 2017 consistent with the way management reviews it's business operations on an ongoing basis. With the addition of the apparel joint venture and OGIO acquisition, the Company anticipates generating significant growth within its accessories and other product category that was previously included within the Company's golf clubs segment. As a result, and based on the Company's assessment, starting as of January 1, 2017, revenues generated from golf apparel and footwear, golf bags, golf gloves, travel gear, headwear and other golf-related accessories, OGIO branded gear and accessories, retail apparel sales from the Company's joint venture in Japan, in addition to royalties from licensing of the Company’s trademarks and service marks for various soft goods will be included in the gear, accessories and other operating segment. The golf clubs segment will now consist of Callaway Golf woods, hybrids, irons and wedges, Odyssey putters, including Toulon Design putters by Odyssey, packaged sets and sales of pre-owned golf clubs. The golf balls segment consists of Callaway Golf and Strata balls that are designed, manufactured and sold by the Company. The Company's operating segments are organized on the basis of products. There are no significant intersegment transactions. The table below contains information utilized by management to evaluate its operating segments for the interim periods presented (in thousands). Prior period amounts have been restated to conform with the current period presentation. Three Months Ended 2017 2016 Net sales: Golf Clubs $ 193,591 $ 195,061 Golf Balls 48,224 41,416 Gear, Accessories and Other 67,112 37,576 $ 308,927 $ 274,053 Income before income taxes: Golf Clubs $ 34,953 $ 35,441 Golf Balls 11,521 10,606 Gear, Accessories and Other 9,619 9,462 Reconciling items (1) (17,007 ) (15,718 ) $ 39,086 $ 39,791 Additions to long-lived assets: Golf Clubs $ 3,795 $ 2,709 Golf Balls 2,536 943 Gear, Accessories and Other 501 181 $ 6,832 $ 3,833 (1) Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. The reconciling items for the three months ended March 31, 2017 include a $1,706,000 increase in corporate general and administrative expenses, driven primarily by accrued employee incentive compensation expense and stock compensation expense, partially offset by a $416,000 decrease in other expense primarily due to an increase in net foreign currency gains period over period. March 31, 2017 December 31, 2016 Total Assets: (1) Golf Clubs $ 274,348 $ 277,469 Golf Balls 43,960 42,460 Gear, Accessories and Other 91,895 38,270 Reconciling items 469,743 443,083 $ 879,946 $ 801,282 Goodwill: Golf Clubs $ 25,770 $ 25,593 Golf Balls — — Gear, Accessories and Other 5,543 — $ 31,313 $ 25,593 (1) Total assets by reportable segment are comprised of net inventory, certain property, plant and equipment, intangible assets and goodwill. Reconciling items represent unallocated corporate assets not segregated between the three segments including cash and cash equivalents, net accounts receivable, and deferred tax assets.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Recent Accounting Standards	Recent Accounting Standards In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." This amendment is intended to simplify several aspects of the accounting for share-based payment transactions, including (i) the recognition of excess tax benefits or deficiencies in the operating statement when compensatory stock awards are vested and settled, and the presentation of these tax benefits or deficiencies as an operating cash outflow on the statement of cash flows, (ii) the option to withhold the maximum statutory tax rate on the settlement of compensatory stock without triggering liability accounting, as well as presenting the shares withheld for the settlement of these taxes as a financing outflow on the statement of cash flows, and (iii) the option to elect a change in the accounting policy to account for forfeitures as they occur. The amendment is effective for annual periods beginning after December 15, 2016, and interim periods therein. The Company adopted this ASU using the modified retrospective transition method with respect to the recognition of excess tax benefits in the consolidated condensed statement of operations. The adoption did not result in a cumulative-effect adjustment to equity as of January 1, 2017. The amendment related to the cash flow presentation of shares acquired to satisfy the Company's minimum tax withholding requirements in connection with the settlement of compensatory stock was applied retrospectively as a financing outflow. The adoption had no impact to any periods presented on the consolidated condensed statement of cash flows as these cash outflows have historically been presented as a financing activity. The Company elected not to change its accounting policy on the recognition of estimated forfeitures. In March 2016, the FASB issued ASU No. 2016-04, "Liabilities—Extinguishment of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products." The amendment clarifies when it is acceptable to recognize the unredeemed portion of prepaid gift cards into income, and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated condensed financial statements and disclosures. As of March 31, 2017, the Company had $1,235,000 of deferred revenue related to unredeemed gift cards. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (i) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is currently evaluating the impact this ASU will have on its consolidated condensed financial statements and disclosures. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendment requires (i) equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, (ii) public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and (iii) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). This amendment eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. This amendment is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. As of March 31, 2017, the Company had an investment in Topgolf International, Inc. of $48,997,000 that was accounted for at cost in accordance with ASC Topic 325, “Investments—Other” (see Note 8). If there are any observable price changes related to this investment or a similar investment of the same issuer in fiscal years beginning after December 15, 2017, the Company would be required to write this investment up or down to its estimated fair value, which could have a significant effect on the Company's financial position and results of operations. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." This amendment requires an entity to measure in-scope inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this amendment did not have a material impact on the Company's consolidated condensed financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers: (Topic 606)." This ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, "Revenue Recognition," and most industry-specific guidance. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, "Property, Plant, and Equipment," and intangible assets within the scope of Topic 350, "Intangibles-Goodwill and Other") are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted only for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company does not intend to early adopt the new guidance, and is in the early stages of evaluating the amended revenue recognition guidance in Topic 606. As such, as of March 31, 2017, the Company is unable at this time to provide information on how the adoption of this ASU will affect the Company’s consolidated condensed financial statements and disclosures.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands): At January 11, 2017 Assets Acquired Cash $ 8,061 Accounts receivable 8,038 Inventory 7,092 Other current assets 328 Property and equipment 2,369 Intangibles - trade name 49,700 Intangibles - customer lists 1,500 Intangibles - non-compete agreements 150 Goodwill 5,543 Total assets acquired 82,781 Liabilities Assumed Accounts Payable and accrued liabilities 16,749 Net assets acquired $ 66,032

Earnings (Loss) per Common Sh25

Earnings (Loss) per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table summarizes the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended 2017 2016 Earnings per common share—basic Net income attributable to Callaway Golf Company $ 25,689 $ 38,390 Less: Preferred stock dividends 191 — Net income (loss) allocable to common shareholders $ 25,689 $ 38,390 Weighted-average common shares outstanding—basic 94,070 93,952 Basic earnings per common share $ 0.27 $ 0.41 Earnings per common share—diluted Net income attributable to Callaway Golf Company $ 25,689 $ 38,390 Weighted-average common shares outstanding—basic 94,070 93,952 Options and restricted stock 1,878 1,472 Weighted-average common shares outstanding—diluted 95,948 95,424 Dilutive earnings per common share $ 0.27 $ 0.40

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories are summarized below (in thousands): March 31, December 31, 2016 Inventories: Raw materials $ 49,283 $ 46,451 Work-in-process 1,273 739 Finished goods 128,464 142,210 $ 179,020 $ 189,400

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets by Major Asset Class	The following sets forth the intangible assets by major asset class (dollars in thousands): Useful Life (Years) March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Non-Amortizing: Trade name, trademark and trade dress and other NA $ 138,290 $ — $ 138,290 $ 88,590 $ — $ 88,590 Amortizing: Patents 2-16 31,581 31,453 128 31,581 31,440 141 Developed technology and other 1-9 9,631 8,026 1,605 7,981 7,981 — Total intangible assets $ 179,502 $ 39,479 $ 140,023 $ 128,152 $ 39,421 $ 88,731
Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets at March 31, 2017 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands): Remainder of 2017 $ 188 2018 251 2019 238 2020 151 2021 150 2022 150 Thereafter 605 $ 1,733

Product Warranty (Tables)

Product Warranty (Tables)	3 Months Ended
	Mar. 31, 2017
Guarantees [Abstract]
Reconciliation of Reserve for Warranty Expense	The following table provides a reconciliation of the activity related to the Company’s reserve for accrued warranty expense (in thousands): Three Months Ended 2017 2016 Beginning balance $ 5,395 $ 5,706 Provision 1,922 1,737 Claims paid/costs incurred (1,372 ) (1,093 ) Ending balance $ 5,945 $ 6,350

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Major Jurisdictions no Longer Subject to Income Tax Examinations by Tax Authorities	The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is generally no longer subject to income tax examinations by tax authorities in the following major jurisdictions: Tax Jurisdiction Years No Longer Subject to Audit U.S. federal 2010 and prior California (United States) 2008 and prior Canada 2009 and prior Japan 2009 and prior South Korea 2011 and prior United Kingdom 2012 and prior

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Future Purchase Commitments	Future minimum commitments as of March 31, 2017 , are as follows (in thousands): Remainder of 2017 $ 47,123 2018 16,401 2019 8,725 2020 3,593 2021 2,407 2022 6 $ 78,255

Share-Based Employee Compensa31

Share-Based Employee Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The table below summarizes the amounts recognized in the financial statements for the three months ended March 31, 2017 and 2016 for share-based compensation, including expense for stock options, restricted stock units, phantom stock units, cash settled stock appreciation rights and performance share units. Three Months Ended 2017 2016 (In thousands) Cost of sales $ 217 $ 142 Operating expenses 2,968 1,910 Total cost of share-based compensation included in income, before income tax $ 3,185 $ 2,052

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Valuation of Foreign Currency Exchange Contracts by Pricing Levels	The following table summarizes the valuation of the Company’s foreign currency forward contracts (see Note 14 ) that are measured at fair value on a recurring basis by the above pricing levels at March 31, 2017 and December 31, 2016 (in thousands): Fair Value Level 1 Level 2 Level 3 March 31, 2017 Foreign currency forward contracts—asset position $ 1,234 $ — $ 1,234 $ — Foreign currency forward contracts—liability position (4,978 ) — (4,978 ) — $ (3,744 ) $ — $ (3,744 ) $ — December 31, 2016 Foreign currency forward contracts—asset position $ 3,524 $ — $ 3,524 $ — Foreign currency forward contracts—liability position (85 ) — (85 ) — $ 3,439 $ — $ 3,439 $ —
Fair Value Relating to Financial Assets and Liabilities	The carrying values of cash and cash equivalents at March 31, 2017 and December 31, 2016 are categorized within Level 1 of the fair value hierarchy due to the short-term nature of these balances. The table below illustrates information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated balance sheets as of March 31, 2017 and December 31, 2016 , as well as the fair value of contingent contracts that represent financial instruments (in thousands). March 31, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Primary Asset-Based Revolving Credit Facility (1) $ 59,000 $ 59,000 $ — $ — Japan ABL Facilities (1) $ 17,954 $ 17,954 $ 11,966 $ 11,966 Standby letters of credit (2) $ 834 $ 834 $ 823 $ 823 Money market funds (3) $ — $ — $ 69,081 $ 69,081 (1) The carrying value of the amount outstanding under the Company's ABL Facility and Japan ABL Facilities approximates the fair value due to the short-term nature of these obligations. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 2 for information on the Company's credit facilities, including certain risks and uncertainties related thereto. (2) The carrying value of the Company's standby letters of credit approximates the fair value as they represent the Company’s contingent obligation to perform in accordance with the underlying contracts. There were no amounts outstanding under these letters of credit as of March 31, 2017 and December 31, 2016 . The fair value of this contingent obligation is categorized within Level 2 of the fair value hierarchy.

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets	The following table summarizes the fair value of the Company's foreign currency forward contracts as well as the location of the asset and/or liability on the consolidated condensed balance sheets at March 31, 2017 and December 31, 2016 (in thousands): Asset Derivatives March 31, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Other current assets $ 946 Other current assets $ 2,660 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 288 Other current assets $ 864 Liability Derivatives March 31, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 1,478 Accounts payable and accrued expenses $ 28 Derivatives not designated as hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 3,500 Accounts payable and accrued expenses $ 57
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following tables summarize the net effect of all cash flow hedges on the consolidated condensed financial statements for the three months ended March 31, 2017 (in thousands): Loss Recognized in Other Comprehensive Income (Effective Portion) Three Months Ended Derivatives designated as cash flow hedging instruments 2017 2016 Foreign currency forward contracts $ (2,254 ) $ (1,671 ) Gain Reclassified from Other Comprehensive Income into Earnings (Effective Portion) Three Months Ended Derivatives designated as cash flow hedging instruments 2017 2016 Foreign currency forward contracts $ 902 $ 214
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table details the amounts reclassified from accumulated other comprehensive loss to cost of goods sold, as well as changes in foreign currency translation for the three months ended March 31, 2017 . Amounts are in thousands. Accumulated other comprehensive loss, December 31, 2016 $ (18,466 ) Change in fair value of derivative instruments (2,254 ) Net gains reclassified from accumulated other comprehensive income to cost of goods sold (902 ) Foreign currency translation adjustments 5,988 Accumulated other comprehensive loss, March 31, 2017, before tax (15,634 ) Income tax expense related to items of other comprehensive income 434 Less: Comprehensive income attributable to non-controlling interest (269 ) Accumulated other comprehensive loss, March 31, 2017, after tax and non-controlling interest $ (15,469 )
Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type	The following table summarizes the location of net gains and losses in the consolidated condensed statements of operations that were recognized during the three months ended March 31, 2017 and 2016, respectively (in thousands): Location of Net Loss Recognized in Income on Derivative Instruments Amount of Net Loss Recognized in Income on Derivative Instruments Derivatives not designated as hedging instruments Three Months Ended 2017 2016 Foreign currency forward contracts Other income (expense), net $ (5,175 ) $ (6,312 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Operating Segments	The table below contains information utilized by management to evaluate its operating segments for the interim periods presented (in thousands). Prior period amounts have been restated to conform with the current period presentation. Three Months Ended 2017 2016 Net sales: Golf Clubs $ 193,591 $ 195,061 Golf Balls 48,224 41,416 Gear, Accessories and Other 67,112 37,576 $ 308,927 $ 274,053 Income before income taxes: Golf Clubs $ 34,953 $ 35,441 Golf Balls 11,521 10,606 Gear, Accessories and Other 9,619 9,462 Reconciling items (1) (17,007 ) (15,718 ) $ 39,086 $ 39,791 Additions to long-lived assets: Golf Clubs $ 3,795 $ 2,709 Golf Balls 2,536 943 Gear, Accessories and Other 501 181 $ 6,832 $ 3,833 (1) Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. The reconciling items for the three months ended March 31, 2017 include a $1,706,000 increase in corporate general and administrative expenses, driven primarily by accrued employee incentive compensation expense and stock compensation expense, partially offset by a $416,000 decrease in other expense primarily due to an increase in net foreign currency gains period over period. March 31, 2017 December 31, 2016 Total Assets: (1) Golf Clubs $ 274,348 $ 277,469 Golf Balls 43,960 42,460 Gear, Accessories and Other 91,895 38,270 Reconciling items 469,743 443,083 $ 879,946 $ 801,282 Goodwill: Golf Clubs $ 25,770 $ 25,593 Golf Balls — — Gear, Accessories and Other 5,543 — $ 31,313 $ 25,593 (1) Total assets by reportable segment are comprised of net inventory, certain property, plant and equipment, intangible assets and goodwill. Reconciling items represent unallocated corporate assets not segregated between the three segments including cash and cash equivalents, net accounts receivable, and deferred tax assets.

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	Mar. 31, 2017USD ($)
Unredeemed Gift Cards
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 1,235

Basis of Presentation Cost-Meth

Basis of Presentation Cost-Method Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Cost-method Investments [Line Items]
Investment in Topgolf	$ 48,997	$ 48,997
Topgolf International Inc
Schedule of Cost-method Investments [Line Items]
Investment in Topgolf	$ 48,997

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 66,032
Cash	8,061
Accounts Receivable	8,038
Inventory	7,092
Other Current Assets	328
Property and Equipment	2,369
Goodwill	31,313	$ 25,593
Total Assets Acquired	82,781
Accounts Payable and Accrued Liabilities	16,749
Net Assets Acquired	66,032
OGIO International, Inc.
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs	3,052
Goodwill	5,543
OGIO International, Inc. | General and Administrative Expense [Member]
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs	1,805	$ 1,247
Customer Lists
Business Acquisition [Line Items]
Intangibles - Customer Lists	1,500
Intangibles - Non-compete Agreements	1,500
Noncompete Agreements
Business Acquisition [Line Items]
Intangibles - Customer Lists	150
Intangibles - Non-compete Agreements	150
Trade Names
Business Acquisition [Line Items]
Intangible Assets - Trade Name	$ 49,700
Royalty Savings Income Approach Method [Member] | OGIO International, Inc.
Business Acquisition [Line Items]
Fair Value Inputs, Royalty Rate	7.50%
Fair Value Inputs, Discount Rate	14.00%

Financing Arrangements (Asset B

Financing Arrangements (Asset Based Revolving Credit Facility) - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Asset-based credit facilities			$ 76,954,000	$ 11,966,000	$ 78,969,000
Cash and cash equivalents			47,989,000	125,975,000	35,136,000	$ 49,801,000
Debt instrument maximum additional borrowing capacity amount			201,740,000		192,146,000
Total available liquidity			249,729,000		227,282,000
Asset-based credit facility, maximum borrowing capacity			230,000,000
Dividend restrictions, maximum additional dividends			86,058,000
United States
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity			160,000,000
Canada
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity			25,000,000
United Kingdom
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity			45,000,000
Bank of America, N.A.
Debt Instrument [Line Items]
Asset-based credit facilities			59,000,000
Amount outstanding under letters of credit			834,000		$ 1,007,000
Maximum amount of additional indebtedness after outstanding borrowings			$ 120,558,000
Average outstanding borrowing	$ 41,880,000
Average available liquidity	$ 100,439,000
Asset-based credit facility, maturity date	Jun. 23, 2019
Debt covenants , dividend restrictions	In addition, the ABL Facility imposes restrictions on the amount the Company could pay in annual cash dividends, including meeting certain restrictions on the amount of additional indebtedness and requirements to maintain a certain fixed charge coverage ratio under certain circumstances. The "fixed charge coverage ratio" is the ratio of the 12-month trailing EBITDA (as defined in the ABL Facility) adjusted for capital expenditures and taxes paid to interest expense and certain distributions paid in the trailing 12-month period adjusted for debt amortization, if any. These restrictions do not materially limit the Company's ability to pay future dividends at the current dividend rate.
Debt covenants, borrowing base below threshold, period ratio required to be in compliance	30 days
Borrowing base availability	$ 23,000,000
Applicable margin rate reduction	The applicable margin for any month could be reduced by 0.25% if the Company’s availability ratio is greater than or equal to 67% and the Company’s “leverage ratio” (as defined below) is less than 4.0 to 1.0 as of the last day of the month for which financial statements have been delivered, so long as no default or event of default exists.
Line of credit facility conditional reduction in margin rate		0.25%	0.25%
Asset-based credit facility, interest rate		2.58%	2.58%
Asset-based credit facility, origination fees			$ 5,007,000
Unamortized origination fees			1,183,000	1,297,000
Bank of America, N.A. | Other Current Assets
Debt Instrument [Line Items]
Asset-based credit facility, origination fees included in other current assets			526,000	519,000
Bank of America, N.A. | Other Assets
Debt Instrument [Line Items]
Asset-based credit facility, origination fees included in other long-term assets			$ 657,000	$ 778,000
Bank of America, N.A. | Minimum
Debt Instrument [Line Items]
Availability ratio required to reduce applicable margin		67.00%	67.00%
Line of credit facility, commitment fee percentage	0.25%
Bank of America, N.A. | Maximum
Debt Instrument [Line Items]
Leverage ratio required to reduce applicable margin	4
Line of credit facility, commitment fee percentage	0.375%
The Bank of Tokyo-Mitsubishi UFG Ltd | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt	0.25%
Japan Credit Facility, 1 [Member] | The Bank of Tokyo-Mitsubishi UFG Ltd
Debt Instrument [Line Items]
Asset-based credit facilities		¥ 1,000,000,000	$ 8,977,000
Debt instrument maximum additional borrowing capacity amount		1,470,958,000	13,205,000
Asset-based credit facility, maximum borrowing capacity		¥ 2,000,000,000	$ 17,954,000
Applicable margin rate reduction	subject to an effective interest rate equal to TIBOR plus 0.25%
Asset-based credit facility, interest rate		0.31%	0.31%
Term of credit facility	2 years
Japan Credit Facility, 2 [Member] | The Bank of Tokyo-Mitsubishi UFG Ltd
Debt Instrument [Line Items]
Asset-based credit facilities		¥ 1,000,000,000	$ 8,977,000
Asset-based credit facility, maximum borrowing capacity		¥ 1,000,000,000	$ 8,977,000
Applicable margin rate reduction	subject to an effective interest rate equal to TIBOR plus 0.75%
Asset-based credit facility, interest rate		0.82%	0.82%
Term of credit facility	10 months

Earnings (Loss) per Common Sh39

Earnings (Loss) per Common Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings per common share—basic
Net income	$ 25,689	$ 38,390
Weighted-average common shares outstanding—basic (in shares)	94,070	93,952
Basic earnings per common share (in dollars per share)	$ 0.27	$ 0.41
Earnings per common share—diluted
Weighted-average common shares outstanding—basic (in shares)	94,070	93,952
Options and restricted stock (in shares)	1,878	1,472
Weighted-average common shares outstanding—diluted (in shares)	95,948	95,424
Dilutive earnings (loss) per common share (in dollars per share)	$ 0.27	$ 0.40

Earnings (Loss) per Common Sh40

Earnings (Loss) per Common Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	152	413

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventories:
Raw materials	$ 49,283	$ 46,451
Work-in-process	1,273	739
Finished goods	128,464	142,210
Inventories	$ 179,020	$ 189,400

Goodwill and Intangible Asset42

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 31,313		$ 25,593
Decrease in goodwill offset amount due to foreign currency fluctuations	177
Aggregate amortization expense on intangible assets	58	$ 13
OGIO International, Inc.
Business Acquisition [Line Items]
Goodwill	$ 5,543

Goodwill and Intangible Asset43

Goodwill and Intangible Assets - Intangible Assets by Major Asset Class (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Intangible Assets By Major Class [Line Items]
Gross	$ 179,502		$ 128,152
Accumulated Amortization	39,479		39,421
Net Book Value	140,023		88,731
Aggregate amortization expense on intangible assets	58	$ 13
Patents
Intangible Assets By Major Class [Line Items]
Gross	31,581		31,581
Accumulated Amortization	31,453		31,440
Net Book Value	$ 128		141
Patents | Minimum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	2 years
Patents | Maximum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	16 years
Developed technology and other
Intangible Assets By Major Class [Line Items]
Gross	$ 9,631		7,981
Accumulated Amortization	8,026		7,981
Net Book Value	$ 1,605		0
Developed technology and other | Minimum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	1 year
Developed technology and other | Maximum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	9 years
Trade name, trademark and trade dress and other
Intangible Assets By Major Class [Line Items]
Gross	$ 138,290		88,590
Net Book Value	$ 138,290		$ 88,590

Goodwill and Intangible Asset44

Goodwill and Intangible Assets - Amortization Expense Related to Intangible Assets (Detail) $ in Thousands	Mar. 31, 2017USD ($)
Amortization expense related to intangible assets:
Remainder of 2017	$ 188
2,018	251
2,019	238
2,020	151
2,021	150
2,022	150
Thereafter	605
Total	$ 1,733

Joint Venture (Details)

Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Jul. 01, 2016
Noncontrolling Interest [Line Items]
Net income attributable to non-controlling interests	$ 191	$ 0
Stockholders' Equity Attributable to Noncontrolling Interest	$ 10,154		$ 9,694
Callaway Apparel K.K. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent				52.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				48.00%
Callaway Golf Company
Noncontrolling Interest [Line Items]
Noncontrolling Interest in Joint Ventures				$ 10,556
TSI Groove & Sports Co, Ltd
Noncontrolling Interest [Line Items]
Noncontrolling Interest in Joint Ventures				$ 9,744

Investments (Detail)

Investments (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2016	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Schedule of Cost-method Investments [Line Items]
Investment in Topgolf, during the period		$ 1,260
Notes Receivable from Topgolf				$ 3,200
Annual Interest Rate on notes receivable				10.00%
Percentage of Topgolf preferred shares sold	10.00%
Reduction in total investment in Topgolf	$ 5,767
Proceeds from sale of investments in golf-related ventures	23,429
Gain on sale of preferred shares in Topgolf	$ 17,662
Investment in Topgolf			$ 48,997	$ 48,997
Percentage of ownership interest in Topgolf			15.00%
Topgolf International Inc
Schedule of Cost-method Investments [Line Items]
Investment in Topgolf			$ 48,997

Product Warranty - Reconciliati

Product Warranty - Reconciliation of Reserve for Warranty Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Guarantees [Abstract]
Warranty policy term	2 years
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 5,395	$ 5,706
Provision	1,922	1,737
Claims paid/costs incurred	(1,372)	(1,093)
Ending balance	$ 5,945	$ 6,350

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income tax provision	$ 13,206	$ 1,401
Liability for income taxes associated with uncertain tax positions	8,512
Net amount of unrecognized tax benefit related to uncertain tax positions that would impact, if recognized, effective income tax rate	1,337
Unrecognized tax benefit liabilities decrease	150
Increase in gross liability for uncertain tax positions	256
Provision expense (benefit) for income taxes related to interest and penalties	47	$ 24
Income tax accrued for payment of interest and penalties	$ 1,364		$ 1,317

Income Taxes - Major Jurisdicti

Income Taxes - Major Jurisdictions No Longer Subject to Audit (Details)	3 Months Ended
	Mar. 31, 2017
U.S. federal
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2010 and prior
California (United States)
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2008 and prior
Canada
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2009 and prior
Japan
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2009 and prior
South Korea
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2011 and prior
United Kingdom
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2012 and prior

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	6 years
Unconditional purchase obligations	$ 78,255
Bank of America, N.A.
Long Term Purchase Commitment [Line Items]
Amount outstanding under letters of credit	$ 834	$ 1,007
Minimum
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	1 year
Maximum
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	6 years

Commitments and Contingencies51

Commitments and Contingencies - Future Purchase Commitments (Details) $ in Thousands	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2016	$ 47,123
2,017	16,401
2,018	8,725
2,019	3,593
2,020	2,407
Thereafter	6
Unconditional purchase obligations	$ 78,255

Share-Based Employee Compensa52

Share-Based Employee Compensation - Amounts Recognized for Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of employee share-based compensation included in income, before income tax	$ 3,185	$ 2,052
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of employee share-based compensation included in income, before income tax	217	142
Operating expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of employee share-based compensation included in income, before income tax	$ 2,968	$ 1,910

Share-Based Employee Compensa53

Share-Based Employee Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)plan$ / sharesshares	Mar. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shareholder approved stock plans | plan	2
Cost (reversal) of employee share-based compensation included in income, before income tax	$ 3,185	$ 2,052
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted | shares	0	0
Compensation expense related to stock options	$ 8	$ 121
Total unrecognized compensation expense related to non-vested shares granted	$ 39
Number of years compensation expense to be recognized over	1 year 2 months 5 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense related to non-vested shares granted	$ 10,285
Number of years compensation expense to be recognized over	2 years 7 months 27 days
Number of stock units granted | shares	465,000	493,000
Stock units, weighted average grant-date fair value (usd per share) | $ / shares	$ 10.13	$ 8.61
Compensation expense related to restricted stocks	$ 1,221	$ 1,040
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense related to non-vested shares granted	$ 9,167
Number of years compensation expense to be recognized over	1 year 9 months 14 days
Number of stock units granted | shares	370,000	420,000
Stock units, weighted average grant-date fair value (usd per share) | $ / shares	$ 10.10	$ 8.61
Award requisite service period	3 years	3 years
Cost (reversal) of employee share-based compensation included in income, before income tax	$ 1,988	$ 1,033
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	1 year
Shares awarded as a percentage of granted	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Shares, Percent	50.00%	50.00%	50.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years
Shares awarded as a percentage of granted	200.00%
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Shares, Percent	80.00%	80.00%
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Number of stock units granted | shares	0	0
Cost (reversal) of employee share-based compensation included in income, before income tax	$ (32)	$ (143)
Accrued compensation expense	$ 0		$ 224

Fair Value of Financial Instr54

Fair Value of Financial Instruments - Foreign Currency Exchange Contracts Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - Foreign Exchange Contract - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position	$ 1,234	$ 3,524
Foreign currency forward contracts—liability position	(4,978)	(85)
Foreign currency forward contracts, net	(3,744)	3,439
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position	1,234	3,524
Foreign currency forward contracts—liability position	(4,978)	(85)
Foreign currency forward contracts, net	$ (3,744)	$ 3,439

Fair Value of Financial Instr55

Fair Value of Financial Instruments - Fair Value Relating to Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding under letters of credit	$ 834	$ 823
Money market funds	0	69,081
Carrying Value | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	59,000	0
Carrying Value | Japan ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	17,954	11,966
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding under letters of credit	834	823
Money market funds	0	69,081
Fair Value | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	59,000	0
Fair Value | Japan ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	$ 17,954	$ 11,966

Derivatives and Hedging - Summa

Derivatives and Hedging - Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Other Current Assets
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts, asset derivatives designated as hedging instruments, fair value	$ 946	$ 2,660
Foreign currency exchange contracts, asset derivatives not designated as hedging instruments, fair value	288	864
Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts, liability derivatives designated as hedging instruments, fair value	1,478	28
Foreign currency exchange contracts, liability derivatives not designated as hedging instruments, fair value	$ 3,500	$ 57

Derivatives and Hedging - Addit

Derivatives and Hedging - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Derivative [Line Items]
Maximum maturity for foreign currency derivatives	12 months
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net	$ 0
Forward points expensed on derivatives	155,000
Net losses from accumulated other comprehensive income (loss) into net earnings during the next 12 months	678,000
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(2,254,000)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(18,466,000)
Change in fair value of derivative instruments	(2,254,000)
Foreign currency translation adjustments	5,988,000
Ending balance	(15,634,000)
Income tax (expense) benefit related to items of other comprehensive income	434,000	$ 91,000
Less: Comprehensive income attributable to non-controlling interest	(269,000)	0
Accumulated other comprehensive loss	(15,469,000)		$ (18,466,000)
Foreign currency losses	675,000	1,312,000
Foreign Exchange Forward | Cost Of Goods Sold
Derivative [Line Items]
Gain Reclassified from AOCI into COGS	902,000	579,000
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amounts reclassified from AOCI	(902,000)
Foreign Exchange Forward | Sales Revenue, Net
Derivative [Line Items]
Gain Reclassified from AOCI into COGS		365,000
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional amounts of derivatives	43,506,000		27,325,000
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional amounts of derivatives	127,824,000		$ 14,821,000
Cash Flow Hedging | Designated as Hedging Instrument
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)		(1,671,000)
Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)		$ 214,000
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(2,254,000)
Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)	$ 902,000
Minimum
Derivative [Line Items]
Maximum maturity for foreign currency cash flow hedge	12 months
Maximum
Derivative [Line Items]
Maximum maturity for foreign currency cash flow hedge	15 months

Derivatives and Hedging - Locat

Derivatives and Hedging - Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other (expense) income, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Net Gain (Loss) Recognized in Income on Derivative Instruments	$ (5,175)	$ (6,312)

Segment Information - Informati

Segment Information - Information Utilized by Management to Evaluate its Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 308,927	$ 274,053
Income before income taxes	39,086	39,791
Additions to long-lived assets	6,832	3,833
Other expense, net	(4,406)	(4,916)
Assets	879,946		$ 801,282
Goodwill	31,313		25,593
Operating segments | Golf Clubs
Segment Reporting Information [Line Items]
Net sales	193,591	195,061
Income before income taxes	34,953	35,441
Additions to long-lived assets	3,795	2,709
Assets	274,348		277,469
Goodwill	25,770		25,593
Operating segments | Golf Balls
Segment Reporting Information [Line Items]
Net sales	48,224	41,416
Income before income taxes	11,521	10,606
Additions to long-lived assets	2,536	943
Assets	43,960		42,460
Goodwill	0		0
Operating segments | Gear, Accessories and Other
Segment Reporting Information [Line Items]
Net sales	67,112	37,576
Income before income taxes	9,619	9,462
Additions to long-lived assets	501	181
Assets	91,895		38,270
Goodwill	5,543		0
Reconciling Items
Segment Reporting Information [Line Items]
Income before income taxes	(17,007)	$ (15,718)
Other General and Administrative Expense	1,706
Other expense, net	416
Assets	$ 469,743		$ 443,083