Topgolf Callaway Brands (MODG) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-10962
Entity Registrant Name	Callaway Golf Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3797580
Entity Address, Address Line One	2180 Rutherford Road
Entity Address, City or Town	Carlsbad
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92008
City Area Code	760
Local Phone Number	931-1771
Entity Current Reporting Status	Yes
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ELY
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	94,107,978
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000837465
Current Fiscal Year End Date	--12-31

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 166,635	$ 106,666
Accounts receivable, net	259,530	140,455
Inventories	412,690	456,639
Income taxes receivable	21,048	9,919
Other current assets	74,219	75,671
Total current assets	934,122	789,350
Property, plant and equipment, net	150,969	132,760
ROU assets, net	193,829	160,098
Intangible assets, net	487,864	493,423
Goodwill	200,787	203,743
Deferred taxes, net	61,517	73,948
Investment in golf-related venture	90,134	90,134
Other assets	15,854	17,092
Total assets	2,135,076	1,960,548
Current liabilities:
Accounts payable and accrued expenses	224,282	276,300
Accrued employee compensation and benefits	29,438	46,891
Asset-based credit facilities	335,593	144,580
Accrued warranty expense	9,791	9,636
Lease liabilities, short-term	28,544	26,418
Current portion of long-term debt	8,734	7,317
Income taxes payable	12,526	12,104
Total current liabilities	648,908	523,246
Long-term liabilities:
Lease liabilities, long-term	175,954	137,696
Long-term debt (Note 6)	453,774	443,259
Income tax liability	7,156	7,264
Deferred taxes, net	72,289	73,483
Other long-term liabilities	17,028	8,247
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized, none issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Common stock, $0.01 par value, 240,000,000 shares authorized, 95,648,648 shares issued at both March 31, 2020 and December 31, 2019, respectively	956	956
Additional paid-in capital	307,133	323,600
Retained earnings	517,004	489,382
Accumulated other comprehensive loss	(37,517)	(22,422)
Less: Common stock held in treasury, at cost, 1,540,670 and 1,450,875 shares at March 31, 2020 and December 31, 2019, respectively	(27,609)	(24,163)
Total Callaway Golf Company shareholders’ equity	759,967	767,353
Total shareholders’ equity	759,967	767,353
Total liabilities and shareholders’ equity	$ 2,135,076	$ 1,960,548

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (usd 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 (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	95,648,648	95,648,648
Common Stock held in treasury, shares (in shares)	1,540,670	1,137,470

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 442,276	$ 516,197
Cost of sales	246,602	277,764
Gross profit	195,674	238,433
Operating expenses:
Selling expense	111,061	119,321
General and administrative expense	30,693	36,938
Research and development expense	13,240	12,538
Total operating expenses	154,994	168,797
Income from operations	40,680	69,636
Interest income	99	189
Interest expense	(9,214)	(9,828)
Other income (expense), net	6,480	(1,940)
Income before income taxes	38,045	58,057
Income tax provision	9,151	9,556
Net income	28,894	48,501
Less: Net loss attributable to non-controlling interest	0	(146)
Net income attributable to Callaway Golf Company	$ 28,894	$ 48,647
Earnings per common share:
Basic (usd per share)	$ 0.31	$ 0.51
Diluted (usd per share)	$ 0.30	$ 0.50
Weighted-average common shares outstanding:
Basic (in shares)	94,309	94,684
Diluted (in shares)	95,676	96,419

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 28,894	$ 48,501
Other comprehensive income:
Change in derivative instruments	(589)	(3,174)
Foreign currency translation adjustments	(14,936)	(2,978)
Comprehensive income, before income tax on other comprehensive income items	13,369	42,349
Income tax benefit (provision) on derivative instruments	430	(428)
Comprehensive income	13,799	41,921
Less: Comprehensive loss attributable to non-controlling interests	0	(108)
Comprehensive income attributable to Callaway Golf Company	$ 13,799	$ 42,029

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Statements - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 28,894	$ 48,501
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	8,997	7,977
Lease amortization expense	8,517	9,154
Amortization of debt issuance costs	835	647
Inventory step-up from acquisition	0	5,367
Deferred taxes, net	12,409	4,005
Non-cash share-based compensation	1,861	3,435
Loss on disposal of long-lived assets	51	75
Unrealized net (gains) losses on hedging instruments	767	(478)
Change in assets and liabilities, net of effect from acquisitions:
Accounts receivable, net	(120,075)	(187,577)
Inventories	36,982	42,173
Other assets	19,349	(2,962)
Accounts payable and accrued expenses	(58,137)	(22,730)
Accrued employee compensation and benefits	(16,680)	(14,983)
Accrued warranty expense	155	966
Change in operating leases, net	(7,041)	(8,714)
Income taxes receivable/payable, net	(11,356)	(4,468)
Other liabilities	790	(992)
Net cash used in operating activities	(93,682)	(120,604)
Cash flows from investing activities:
Capital expenditures	(16,953)	(11,304)
Acquisition, net of cash acquired	0	(463,105)
Proceeds from sales of property and equipment	0	15
Net cash used in investing activities	(16,953)	(474,394)
Cash flows from financing activities:
Proceeds from credit facilities, net	191,013	174,182
Proceeds from issuance of long-term debt	9,766	480,000
Repayments of long-term debt	(3,143)	(1,760)
Debt issuance cost	0	(18,129)
Principal payments on finance leases	(109)	(114)
Acquisition of treasury stock	(21,938)	(27,377)
Dividends paid, net	(949)	(953)
Exercise of stock options	130	0
Net cash provided by financing activities	174,770	605,849
Effect of exchange rate changes on cash and cash equivalents	(4,166)	4,107
Net increase in cash and cash equivalents	59,969	14,958
Cash and cash equivalents at beginning of period	106,666
Cash and cash equivalents at end of period	166,635
Supplemental disclosures:
Cash paid for income taxes, net	3,983	3,259
Cash paid for interest and fees	7,165	5,042
Non-cash investing and financing activities:
Issuance of treasury stock and common stock for compensatory stock awards released from restriction	18,129	18,467
Accrued capital expenditures at period-end	$ 4,055	$ 1,178

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares 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, 2018		95,649				(1,138)
Beginning Balance at Dec. 31, 2018	$ 734,308,000	$ 956,000	$ 341,241,000	$ 413,799,000	$ (13,700,000)	$ (17,722,000)	$ 724,574,000	$ 9,734,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standard	0
Acquisition of treasury stock (in shares)						(1,654)
Acquisition of treasury stock	(27,377,000)					$ 27,377,000	(27,377,000)
Compensatory awards released from restriction (in shares)		0				803
Compensatory awards released from restriction		$ 0	(18,467,000)			$ 18,467,000
Share-based compensation	3,435,000		3,435,000				3,435,000
Stock Dividends (in shares)						385
Stock Dividends			0	(37,000)		$ (37,000)
Cash dividends	(953,000)			(953,000)			(953,000)
Foreign currency translation adjustments	(2,978,000)				(2,870,000)		(2,870,000)	(108,000)
Change in fair value of derivative instruments	(3,602,000)				(3,602,000)		(3,602,000)
Net income	48,501,000			48,647,000			48,647,000	(146,000)
Ending Balance (in shares) at Mar. 31, 2019		95,649				(1,604)
Ending Balance at Mar. 31, 2019	751,334,000	$ 956,000	326,209,000	461,456,000	(20,172,000)	$ (26,595,000)	741,854,000	$ 9,480,000
Beginning Balance (in shares) at Dec. 31, 2019		95,649				(1,451)
Beginning Balance at Dec. 31, 2019	767,353,000	$ 956,000	323,600,000	489,382,000	(22,422,000)	$ (24,163,000)	767,353,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standard	289,000
Adoption of accounting standard | ASU 2016-13 (Topic 326)	289,000			(289,000)
Adoption of accounting standard | ASU 2014-09							(289,000)
Acquisition of treasury stock (in shares)						(1,167)
Acquisition of treasury stock						$ (21,938,000)	(21,938,000)
Exercise of stock options (in shares)						20
Exercise of stock options			(203,000)			$ 333,000	130,000
Compensatory awards released from restriction (in shares)						1,055
Compensatory awards released from restriction			(18,129,000)			$ 18,129,000
Share-based compensation			1,861,000				1,861,000
Stock Dividends (in shares)						2
Stock Dividends				(34,000)		$ 30,000
Cash dividends	(0.01)			(949,000)			(949,000)
Foreign currency translation adjustments	(14,936,000)						(14,936,000)
Change in fair value of derivative instruments					(159,000)		(159,000)
Net income	28,894,000			28,894,000			28,894,000
Ending Balance (in shares) at Mar. 31, 2020		95,649				(1,541)
Ending Balance at Mar. 31, 2020	$ 759,967,000	$ 956,000	$ 307,133,000	$ 517,004,000	$ (37,517,000)	$ (27,609,000)	$ 759,967,000

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
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, 2019 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 judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Examples of such estimates include provisions for warranty, uncollectible accounts receivable, inventory obsolescence, sales returns, and tax contingencies and estimates related to the Tax Act enacted in December 2017, and estimates on the valuation of share-based awards and recoverability of long-lived assets and investments. Actual results may materially differ from these estimates. On an ongoing basis, the Company reviews its estimates to ensure that these estimates appropriately reflect changes in its business or as new information becomes available. Recent Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU removes specific exceptions to the general principles in Accounting Standards Codification ("ASC") Topic 740, "Accounting for Income Taxes" ("Topic 740") and simplifies certain U.S. GAAP requirements. ASU 2019-12 is effective for public filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its consolidated condensed financial statements and disclosures. Adoption of New Accounting Standards On January 1, 2020, the Company adopted ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("Topic 326") utilizing the modified retrospective approach. This new standard is intended to improve financial reporting by requiring timelier recording of credit losses on the Company's trade account receivable and requires the measurement of all expected credit losses based on historical experience, current conditions, and reasonable and supportable forecasts. Upon the completion of the Company's assessment of Topic 326, the Company concluded that its prior methodology of estimating credit losses on its trade accounts receivable closely aligns with the requirements of the new standard, and therefore, the adoption of this ASU did not have a material impact on the Company consolidated condensed financial statements. For further information, see Note 4 . Upon adoption of Topic 326, the Company recorded a cumulative adjustment to beginning retained earnings of $289,000 , which reflected an increase to the allowance for doubtful accounts. As the impact to the Company's consolidated condensed financial statements in the first quarter of 2020 was not material, prior period information that is presented for comparative purposes has not been restated and continues to be reported under the accounting standards that were in effect during those periods. On January 1, 2020, the Company adopted ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU removed, modified or added to the disclosure requirements for fair value measurements in ASC Topic 820, "Fair Value Measurement" ("Topic 820"). The adoption of this ASU did not have a material impact on the Company's consolidated condensed financial statements and disclosures.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Note 2. Leases The Company leases office space, manufacturing plants, warehouses, distribution centers and vehicles and equipment, as well as retail and/or outlet locations related to the TravisMathew and Jack Wolfskin businesses and the apparel business in Japan. Certain real estate leases include one or more options to extend the lease term or options to purchase the leased property at the Company's sole discretion. When deemed reasonably certain of exercise, the renewal and purchase options are included in the determination of the lease term and lease payment obligation, respectively. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Right-of-use ("ROU") assets represent the right to use an underlying asset during the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the rate implicit in the lease agreement in determining the present value of minimum lease payments. If the implicit rate is not provided, the Company uses its incremental borrowing rate based on information available at the lease commencement date, including the lease term. At the commencement of a lease, the ROU asset for operating leases is measured by taking the sum of the present value of the lease liability, initial direct costs (if any) and prepaid lease payments (if any), and deducting lease incentives (if any). After the lease commencement date and over the lease term, lease expense is recognized as a single lease cost on a straight-line basis. Lease agreements related to properties are generally comprised of lease components and non-lease components. Non-lease components, such as common area maintenance charges, are expensed as incurred and recognized separately from the straight-line lease expense. Variable lease payments that do not depend on an index or rate, such as rental payments based on a percentage of retail sales over contractual levels, are expensed separately as incurred, and are not included in the measurement of the ROU asset and lease liability. Variable lease payments that depend on an index or rate, such as payments that are adjusted periodically for inflation, are included in the measurement of the ROU asset and lease liability and are recognized on a straight-line basis over the lease term. Supplemental balance sheet information related to leases is as follows (in thousands): Balance Sheet Location March 31, 2020 December 31, 2019 Operating leases ROU assets, net Operating lease ROU assets, net $ 193,829 $ 160,098 Lease liabilities, short-term Operating lease liabilities, short-term $ 28,544 $ 26,418 Lease liabilities, long-term Operating lease liabilities, long-term $ 175,954 $ 137,696 Finance Leases ROU assets, net, Other assets $ 1,108 $ 1,263 Lease liabilities, short-term Accounts payable and accrued expenses $ 542 $ 589 Lease liabilities, long-term Long-term other $ 509 $ 558 The components of lease expense are as follows (in thousands): Three Months Ended 2020 2019 Operating lease costs $ 11,022 $ 8,897 Financing lease costs: Amortization of right-of-use assets 167 257 Interest on lease liabilities 11 25 Total financing lease costs 178 282 Variable lease costs 1,296 1,340 Total lease costs $ 12,496 $ 10,519 Other information related to leases was as follows (in thousands): Three Months Ended Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 9,331 $ 8,714 Operating cash flows from finance leases $ 11 $ 25 Financing cash flows from finance leases $ 109 $ 114 Lease liabilities arising from new ROU assets: Operating leases $ 51,851 $ 3,059 Finance leases $ 22 $ — March 31, December 31, Weighted average remaining lease term (years): Operating leases 10.1 6.6 Finance leases 2.7 2.7 Weighted average discount rate: Operating leases 5.4 % 5.5 % Finance leases 4.1 % 4.5 % Future minimum lease obligations as of March 31, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 29,289 $ 510 2021 34,284 245 2022 29,864 204 2023 26,016 94 2024 22,586 23 Thereafter 126,550 23 Total future lease payments 268,589 1,099 Less: imputed interest 64,091 48 Total $ 204,498 $ 1,051
Leases	Note 2. Leases The Company leases office space, manufacturing plants, warehouses, distribution centers and vehicles and equipment, as well as retail and/or outlet locations related to the TravisMathew and Jack Wolfskin businesses and the apparel business in Japan. Certain real estate leases include one or more options to extend the lease term or options to purchase the leased property at the Company's sole discretion. When deemed reasonably certain of exercise, the renewal and purchase options are included in the determination of the lease term and lease payment obligation, respectively. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Right-of-use ("ROU") assets represent the right to use an underlying asset during the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the rate implicit in the lease agreement in determining the present value of minimum lease payments. If the implicit rate is not provided, the Company uses its incremental borrowing rate based on information available at the lease commencement date, including the lease term. At the commencement of a lease, the ROU asset for operating leases is measured by taking the sum of the present value of the lease liability, initial direct costs (if any) and prepaid lease payments (if any), and deducting lease incentives (if any). After the lease commencement date and over the lease term, lease expense is recognized as a single lease cost on a straight-line basis. Lease agreements related to properties are generally comprised of lease components and non-lease components. Non-lease components, such as common area maintenance charges, are expensed as incurred and recognized separately from the straight-line lease expense. Variable lease payments that do not depend on an index or rate, such as rental payments based on a percentage of retail sales over contractual levels, are expensed separately as incurred, and are not included in the measurement of the ROU asset and lease liability. Variable lease payments that depend on an index or rate, such as payments that are adjusted periodically for inflation, are included in the measurement of the ROU asset and lease liability and are recognized on a straight-line basis over the lease term. Supplemental balance sheet information related to leases is as follows (in thousands): Balance Sheet Location March 31, 2020 December 31, 2019 Operating leases ROU assets, net Operating lease ROU assets, net $ 193,829 $ 160,098 Lease liabilities, short-term Operating lease liabilities, short-term $ 28,544 $ 26,418 Lease liabilities, long-term Operating lease liabilities, long-term $ 175,954 $ 137,696 Finance Leases ROU assets, net, Other assets $ 1,108 $ 1,263 Lease liabilities, short-term Accounts payable and accrued expenses $ 542 $ 589 Lease liabilities, long-term Long-term other $ 509 $ 558 The components of lease expense are as follows (in thousands): Three Months Ended 2020 2019 Operating lease costs $ 11,022 $ 8,897 Financing lease costs: Amortization of right-of-use assets 167 257 Interest on lease liabilities 11 25 Total financing lease costs 178 282 Variable lease costs 1,296 1,340 Total lease costs $ 12,496 $ 10,519 Other information related to leases was as follows (in thousands): Three Months Ended Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 9,331 $ 8,714 Operating cash flows from finance leases $ 11 $ 25 Financing cash flows from finance leases $ 109 $ 114 Lease liabilities arising from new ROU assets: Operating leases $ 51,851 $ 3,059 Finance leases $ 22 $ — March 31, December 31, Weighted average remaining lease term (years): Operating leases 10.1 6.6 Finance leases 2.7 2.7 Weighted average discount rate: Operating leases 5.4 % 5.5 % Finance leases 4.1 % 4.5 % Future minimum lease obligations as of March 31, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 29,289 $ 510 2021 34,284 245 2022 29,864 204 2023 26,016 94 2024 22,586 23 Thereafter 126,550 23 Total future lease payments 268,589 1,099 Less: imputed interest 64,091 48 Total $ 204,498 $ 1,051

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Revenue Recognition	Note 3. Revenue Recognition The Company recognizes revenue from the sale of its products, which include golf clubs, golf balls, lifestyle and outdoor apparel, gear and accessories, in addition to golf apparel and accessories. The Company sells its products to customers, which include on- and off-course golf shops and national retail stores, as well as to consumers through its e-commerce business and at its apparel retail locations. In addition, the Company recognizes royalty income from third parties from the licensing of certain soft goods products, as well as revenue from gift cards. The Company's contracts with customers are generally in the form of a purchase order. In certain cases, the Company enters into sales agreements containing specific terms, discounts and allowances. In addition, the Company enters into licensing agreements with certain distributors. The Company has two operating and reportable segments, namely the Golf Equipment operating segment and the Apparel, Gear and Other operating segment. The following table presents the Company's revenue disaggregated by major product category and operating and reportable segment (in thousands): Operating and Reportable Segments Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Golf Equipment Apparel, Gear & Other Total Golf Equipment Apparel, Gear & Other Total Major product category: Golf Clubs $ 251,224 $ — $ 251,224 $ 261,785 $ — $ 261,785 Golf Balls 40,437 — 40,437 61,834 — 61,834 Apparel — 77,290 77,290 — 96,246 96,246 Gear, Accessories & Other — 73,325 73,325 — 96,332 96,332 $ 291,661 $ 150,615 $ 442,276 $ 323,619 $ 192,578 $ 516,197 The Company sells its golf equipment products and apparel, gear and accessories in the United States and internationally, with its principal international regions being Japan and Europe. As the majority of the Company's sales are concentrated in golf equipment products, sales of golf equipment are generally higher on a regional basis, with the exception of Europe, which has a higher concentration of sales of apparel, gear and other as a result of the Jack Wolfskin acquisition completed in January 2019. The following table presents information about the geographical areas in which the Company operates. Revenues are attributed to the location to which the product was shipped (in thousands): Three Months Ended 2020 2019 Major Geographic Region: United States $ 217,503 $ 249,001 Europe 96,719 126,613 Japan 77,347 73,228 Rest of World 50,707 67,355 $ 442,276 $ 516,197 Product Sales The Company recognizes revenue from the sale of its products when it satisfies the terms of a sales order from a customer, and transfers control of the products ordered to the customer. Control transfers when products are shipped, and in certain cases, when products are received by customers. In addition, the Company recognizes revenue at the point of sale on transactions with consumers at its retail locations. Sales taxes, value added taxes and other taxes that are collected in connection with revenue transactions are withheld and remitted to the respective taxing authorities. As such, these taxes are excluded from revenue. The Company elected to account for shipping and handling as activities to fulfill the promise to transfer the good. Therefore, shipping and handling fees that are billed to customers are recognized in revenue and the associated shipping and handling costs are recognized in cost of goods sold as soon as control of the goods transfers to the customer. Royalty Income Royalty income is recognized over time in net sales as underlying product sales occur, subject to certain minimum royalties, in accordance with the related licensing arrangements. Royalty income is included in the Company's Apparel, Gear and Other operating segment. Total royalty income for the three months ended March 31, 2020 and 2019 was $5,545,000 and $4,678,000 , respectively. Gift Cards Revenues from gift cards are deferred and recognized when the cards are redeemed. The Company’s gift cards have no expiration date. The Company recognizes revenue from unredeemed gift cards, otherwise known as breakage, when the likelihood of redemption becomes remote and under circumstances that comply with any applicable state escheatment laws. To determine when redemption is remote, the Company analyzes an aging of unredeemed cards (based on the date the card was last used or the activation date if the card has never been used) and compares that information with historical redemption trends. The Company uses this historical redemption rate to recognize breakage on unredeemed gift cards over the redemption period. The Company does not believe there is a reasonable likelihood that there will be a material change in the future estimates or assumptions used to determine the timing of recognition of gift card revenues. As of March 31, 2020 and December 31, 2019 , the Company's deferred revenue liability for gift cards was $1,990,000 and $2,190,000 , respectively. During the three months ended March 31, 2020 and 2019 , the Company recognized $525,000 and $389,000 of deferred gift card revenue, respectively. Variable Consideration The amount of revenue the Company recognizes is based on the amount of consideration it expects to receive from customers. The amount of consideration is the sales price adjusted for estimates of variable consideration, including sales returns, discounts and allowances as well as sales programs, sales promotions and price concessions that are offered by the Company as described below. These estimates are based on the amounts earned or to be claimed by customers on the related sales, and are therefore recorded as reductions to sales and trade accounts receivable. The Company’s primary sales program, the “Preferred Retailer Program,” offers potential rebates and discounts for participating retailers in exchange for providing certain benefits to the Company, including the maintenance of agreed upon inventory levels, prime product placement and retailer staff training. Under this program, qualifying retailers can earn either discounts or rebates based upon the amount of product purchased. Discounts are applied and recorded at the time of sale. For rebates, the Company estimates the amount of variable consideration related to the rebate at the time of sale based on the customer’s estimated qualifying current year product purchases. The estimate is based on the historical level of purchases, adjusted for any factors expected to affect the current year purchase levels. The estimated year-end rebate is adjusted quarterly based on actual purchase levels, as necessary. The Preferred Retailer Program is generally short-term in nature and the actual amount of rebate to be paid under this program is known as of the end of the year and paid to customers shortly after year-end. Historically, the Company's actual amount of variable consideration related to its Preferred Retailer Program has not been materially different from its estimates. The Company also offers short-term sales program incentives, which include sell-through promotions and price concessions or price reductions. Sell-through promotions are generally offered throughout the product's life cycle of approximately two years, and price concessions or price reductions are generally offered at the end of the product's life cycle. The estimated variable consideration related to these programs is based on a rate that includes historical and forecasted data. The Company records a reduction to net sales using this rate at the time of the sale. The Company monitors this rate against actual results and forecasted estimates, and adjusts the rate as deemed necessary in order to reflect the amount of consideration it expects to receive from its customers. There were no material changes to the rate during the three months ended March 31, 2020 and 2019. Historically, the Company's actual amount of variable consideration related to these sales programs has not been materially different from its estimates. The Company records an estimate for anticipated returns as a reduction of sales and cost of sales, and accounts receivable, in the period that the related sales are recorded. Sales returns are estimated based upon historical returns, current economic trends, changes in customer demands and sell-through of products. The Company also offers certain customers sales programs that allow for specific returns. The Company records a return liability as an offset to accounts receivable for anticipated returns related to these sales programs at the time of the sale based on the terms of the sales program. The cost recovery of inventory associated with this reserve is accounted for in other current assets. Historically, the Company’s actual sales returns have not been materially different from management’s original estimates.

Estimated Credit Losses (Notes)

Estimated Credit Losses (Notes)	3 Months Ended
	Mar. 31, 2020
Estimated Credit Losses [Abstract]
Estimated Credit Losses	Note 4. Estimated Credit Losses The Company's trade accounts receivable are recorded at net realizable value, which includes an appropriate allowance for estimated credit losses, as well as reserves related to product returns and sales programs as described in Note 3. Under ASC Topic 326, the “expected credit loss” model will replace the “incurred loss” model and will require consideration of a broader range of information to estimate expected credit losses over the life of the asset. The Company's prior methodology for estimating credit losses on trade accounts receivable did not differ significantly from the new requirements of ASC 326. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. An estimate of credit losses for the remaining customers in the aggregate is based upon historical bad debts, current customer receivable balances, age of customer receivable balances, the customers' financial condition, all of which are subject to change. Additionally, the Company’s monitoring activities now consider future reasonable and supportable forecasts of economic conditions to adjust all general reserve percentages as necessary. Balances are written off when determined to be uncollectible. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and determined, based on current information, that the estimate of credit losses as of March 31, 2020 was not significantly impacted. Actual uncollected amounts have historically been consistent with the Company’s expectations. The Company's payment terms on its receivables from customers are generally 60 days or less. The following table provides a reconciliation of the activity related to the Company’s allowance for estimated credit losses (in thousands): Three Months Ended 2020 2019 (in thousands) Beginning balance as of January 1 $ 5,992 $ 5,610 Adjustment due to the adoption of Topic 326 289 — Provision for credit losses 13 (123 ) Write-off of uncollectible amounts, net of recoveries (154 ) (13 ) Ending balance as of March 31 $ 6,140 $ 5,474

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Combinations	Note 5. Business Combinations Acquisition of JW Stargazer Holding GmbH In January 2019, the Company completed the acquisition of JW Stargazer Holding GmbH, the owner of the international, premium outdoor apparel, gear and accessories brand, Jack Wolfskin, for €457,394,000 (including cash acquired of €50,984,000 ) or approximately $521,201,000 (including cash acquired of $58,096,000 ) (using the exchange rate in effect on the acquisition date), subject to working capital adjustments. The Company financed the acquisition with a Term Loan B facility in the aggregate principal amount of $480,000,000 (see Note 6 ). Jack Wolfskin designs premium outdoor apparel, gear and accessories targeted at the active outdoor and urban outdoor customer categories. This acquisition further enhanced the Company's lifestyle category and provides a platform for future growth in the active outdoor and urban outdoor categories, which the Company believes are complementary to its portfolio of brands and product capabilities. In addition, the Company anticipates it will realize synergies with respect to supply chain operations as well as warehousing and distribution activities. The Company allocated the purchase price to the net identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the date of acquisition. The excess of the purchase price over the estimated fair value of the net assets and liabilities was allocated to goodwill. The Company determined the estimated fair values after review and consideration of relevant information as of the acquisition date, including discounted cash flows, quoted market prices and estimates made by management. The allocation of the purchase price presented below was based on management's estimate of the fair values of the acquired assets and assumed liabilities using valuation techniques including income, cost and market approaches. These valuation techniques incorporate the use of expected future revenues, cash flows and growth rates as well as estimated discount rates. Current and noncurrent assets and liabilities are valued at historical carrying values, which approximates fair value. 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 Company amortizes the fair value of these relationships over a 10-year period. 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 5.0% , which is reflective of royalty rates paid in market transactions, and a discount rate of 10.0% on the future cash flows generated by the net after-tax savings. The goodwill of $150,180,000 arising from the acquisition consists largely of the synergies expected from combining the operations of the Company and Jack Wolfskin. As of December 31, 2019, the Company completed its evaluation of information that existed as of the acquisition date and finalized the purchase price allocation of the underlying acquired assets and liabilities. The resulting adjustments were offset against goodwill. The final assessment included the completion of the market analysis of the operating leases assumed, and the completion of the fair value assessment of the deferred taxes acquired. As a non-taxable stock acquisition, the value attributable to the acquired intangible assets and goodwill are not tax deductible, accordingly, the Company recognized a net deferred tax liability of $77,079,000 , including a valuation reserve of $8,281,000 on certain deferred tax assets. In addition, the Company recognized certain adjustments on income taxes receivable and long-term income taxes payable. The Company's final assessment also included adjustments related to certain sales returns reserves and inventory obsolescence reserves, and adjustments to the useful lives of certain property, plant and equipment. All of the goodwill was assigned to the Apparel, Gear and Other operating segment. In connection with the acquisition, during the year ended December 31, 2019, the Company recognized transaction costs of approximately $9,987,000 , of which $4,723,000 was recognized in general and administrative expenses during the three months ended March 31, 2019. There were no transaction costs incurred during the three months ended March 31, 2020. In addition, the Company recorded a loss of $3,215,000 in other income (expense) in the first quarter of 2019 upon the settlement of a foreign currency forward contract to mitigate the risk of foreign currency fluctuations on the purchase price, which was denominated in Euros. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands): At January 4, 2019 Assets Acquired Cash $ 58,096 Accounts receivable 26,637 Inventories 94,504 Income tax receivable 6,588 Other current assets 11,483 Property and equipment 20,930 Operating lease right-of-use assets 120,865 Deferred tax assets 2,930 Other assets 23 Intangibles - trade name 239,295 Intangibles - retail partners & distributor relationships 38,743 Goodwill 150,180 Total assets acquired 770,274 Liabilities Assumed Accounts Payable and accrued liabilities 46,124 Income taxes payable, long-term 2,416 Operating lease liabilities 120,524 Deferred tax liabilities 80,009 Net assets acquired $ 521,201

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Financing Arrangements	Note 6. 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, 2020 , the Company had $335,593,000 outstanding under these facilities, $1,375,000 in outstanding letters of credit, and $166,635,000 in cash and cash equivalents. As of March 31, 2020 , the Company's available liquidity, which is comprised of cash on hand and amounts available under both facilities, after letters of credit and outstanding borrowings, was $259,428,000 . As of March 31, 2019 , the Company had $214,482,000 outstanding under these facilities, $1,228,000 in outstanding letters of credit, and $78,939,000 in cash and cash equivalents. As of March 31, 2019 , the Company's available liquidity, which is comprised of cash on hand and amounts available under both facilities, after letters of credit and outstanding borrowings, was $223,402,000 . Primary Asset-Based Revolving Credit Facility In May 2019, the Company amended and restated its primary credit facility (the Fourth Amended and Restated Loan and Security Agreement, as amended in August 2019, March 2020 and April 2020) with Bank of America N.A. and other lenders (the “ABL Facility”), which provides a senior secured asset-based revolving credit facility of up to $400,000,000 , comprised of a $260,000,000 U.S. facility, a $70,000,000 German 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. In March 2020, the Company amended the ABL Facility to add a stretch loan sub-facility of up to $30,000,000 (the “Stretch Term Loan Facility”) and the loans thereunder (the “Stretch Term Loans”), which may be borrowed pursuant to one borrowing at any time prior to September 30, 2020. The amounts outstanding under the ABL Facility are secured by certain assets, including cash (to the extent pledged by the Company), certain intellectual property, certain eligible real estate, inventory and accounts receivable of the Company’s subsidiaries in the United States, Germany, Canada and the United Kingdom. The real estate and intellectual property components of the borrowing base under the ABL Facility are both amortizing. The amount available for the real estate portion is reduced quarterly over a 15-year period, and the amount available for the intellectual property portion is reduced quarterly over a 3-year period. As of March 31, 2020 , the Company had $300,257,000 in borrowings outstanding under the ABL Facility and $1,375,000 in outstanding letters of credit. As of March 31, 2020, the Company had not yet utilized the Stretch Term Loan Facility. Amounts available under the ABL Facility fluctuate with the general seasonality of the business and increase and decrease with changes in the Company’s inventory and accounts receivable balances. With respect to the Company's Golf Equipment business, inventory balances are generally higher in the fourth and first quarters, primarily to meet demand during the height of the golf season, and accounts receivable are generally higher during the first half of the year when sales are higher. Average outstanding borrowings during the three months ended March 31, 2020 were $204,236,000 , and average amounts available under the ABL Facility during the three months ended March 31, 2020 , after outstanding borrowings and letters of credit, was approximately $114,012,000 . Amounts borrowed under the ABL Facility may be repaid and borrowed as needed. The entire outstanding principal amount (if any) is due and payable in May 2024 . 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. On April 28, 2020, the Company amended the ABL Facility to permit a customary capped call transaction (see Convertible Senior Notes below) in connection with the issuance of convertible debt securities by the Company and to permit the Company to incur loans or financial assistance of up to $50,000,000 pursuant to governmental programs enacted due to the COVID-19 outbreak. In addition, the ABL Facility imposes restrictions on the amount the Company could pay in annual cash dividends, including certain restrictions on the amount of additional indebtedness and requirements to maintain a certain fixed charge coverage ratio under certain circumstances. These restrictions do not materially limit the Company's ability to pay future dividends at the current dividend rate. As of March 31, 2020 , 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 of at least 1.0 to 1.0 during, and continuing 30 days after, any period in which the Company’s borrowing base availability, as amended, falls below 10% of the maximum facility amount or $40,000,000 . Additionally, at any time the Stretch Term Loans are outstanding as of the end of any fiscal quarter, the Company is subject to compliance with a fixed charge coverage ratio of at least 1.1 to 1.0. The Company’s borrowing base availability was above $40,000,000 during the three months ended March 31, 2020 , and the Company was in compliance with the fixed charge coverage ratio as of March 31, 2020 . Had the Company not been in compliance with the fixed charge coverage ratio as of March 31, 2020 , the maximum amount of additional indebtedness that could have been outstanding on March 31, 2020 would have been reduced by $40,000,000 . 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 German, the U.K. and the U.S. borrowing bases, as adjusted. At March 31, 2020 the Company’s trailing 12 month average interest rate applicable to its outstanding loans under the ABL Facility was 4.36% . Additionally, the ABL Facility provides for monthly fees of 0.25% of the unused portion of the ABL Facility and 0.50% of the Stretch Term Loan Facility until the earlier of the borrowing of the Stretch Term Loans and September 30, 2020. The fees incurred in connection with the origination and amendment of the ABL Facility totaled $3,315,000 , which are amortized into interest expense over the term of the ABL Facility agreement. Unamortized origination fees at March 31, 2020 and December 31, 2019 were $1,945,000 and $2,115,000 , respectively, of which $753,000 and $746,000 , respectively, were included in other current assets and $1,192,000 and $1,369,000 , respectively, were included in other long-term assets in the accompanying consolidated condensed balance sheets. Japan ABL Facilities In January 2018, the Company refinanced the asset-based loan agreement between its subsidiary in Japan and The Bank of Tokyo-Mitsubishi UFJ, Ltd (the "2018 Japan ABL Facility"), which provides a credit facility of up to 4,000,000,000 Yen (or U.S. $37,196,000 , using the exchange rate in effect as of March 31, 2020 ) over a three-year term, subject to borrowing base availability under the 2018 Japan ABL Facility. The amounts outstanding are secured by certain assets, including eligible inventory and eligible accounts receivable. The Company had 3,800,000,000 Yen (or U.S. $35,336,000 , using the exchange rate in effect as of March 31, 2020 ) in borrowings outstanding under the 2018 Japan ABL Facility as of March 31, 2020 . The 2018 Japan ABL Facility also includes certain restrictions including covenants related to certain pledged assets and financial performance metrics. As of March 31, 2020 , the Company was in compliance with these covenants. The 2018 Japan ABL Facility is subject to an effective interest rate equal to the Tokyo Interbank Offered Rate (TIBOR) plus 0.80%. The average interest rate under the 2018 Japan ABL Facility during 2020 was 0.87% . The 2018 Japan ABL Facility expires in January 2021. On July 31, 2019, the Company entered into a new one-year asset-based loan facility ("2019 Japan ABL Facility" and collectively with the 2018 Japan ABL Facility, the "Japan ABL Facility") between its subsidiary in Japan and MUFG Bank, Ltd. for 2,000,000,000 Yen, (or approximately U.S. $18,598,000 using the exchange rate in effect as of March 31, 2020 ) and had no borrowings outstanding under the 2019 Japan ABL Facility as of March 31, 2020 . The amounts outstanding are secured by certain assets, including eligible inventory and eligible accounts receivable. The 2019 Japan ABL Facility is subject to an effective interest rate equal to the TIBOR plus 1.0%, and is subject to certain restrictions including covenants related to certain pledged assets and financial performance metrics. The average interest rate under the 2019 Japan ABL Facility during 2020 was 1.07% . Long-Term Debt Equipment Notes In December 2017, the Company entered into a long-term financing agreement (the "2017 Equipment Note") secured by certain equipment at the Company's golf ball manufacturing facility. As of March 31, 2020 and December 31, 2019 , the Company had $6,775,000 and $7,357,000 , respectively, outstanding under the 2017 Equipment Note, of which $2,467,000 and $2,455,000 were reported in current liabilities, respectively, and $4,308,000 and $4,902,000 were reported in long-term liabilities, respectively, in the accompanying consolidated condensed balance sheets. The Company's interest rate applicable to outstanding borrowings was 3.79% . Total interest expense related to the 2017 Equipment Note recognized during the three months ended March 31, 2020 was $68,000 . The 2017 Equipment Note amortizes over a 5 -year term. In August 2019, the Company entered into a second long-term financing agreement (the "2019 Equipment Note") secured by certain equipment at the Company's golf ball manufacturing facility. As of March 31, 2020 and December 31, 2019 , the Company had $11,742,000 and $12,358,000 , respectively, outstanding under the 2019 Equipment Note, of which $2,662,000 and $2,652,000 was reported in current liabilities, respectively, and $9,080,000 and $9,706,000 was reported in long-term liabilities, respectively, in the accompanying consolidated condensed balance sheets. The Company's interest rate applicable to outstanding borrowings was 3.21% . Total interest expense related to the 2019 Equipment Note recognized during the three months ended March 31, 2020 was $97,000 . The 2019 Equipment Note amortizes over a 5 -year term. In March 2020, the Company entered into a third long-term financing agreement (the "2020 Equipment Note") secured by certain equipment at the Company's golf ball manufacturing facility. As of March 31, 2020 the Company had $9,766,000 outstanding under the 2020 Equipment Note, of which $1,395,000 was reported in current liabilities and $8,371,000 was reported in long-term liabilities in the accompanying consolidated condensed balance sheet. The Company's interest rate applicable to outstanding borrowings was 2.36% . There was no interest expense related to the 2020 Equipment Note recognized during the three months ended March 31, 2020 . The 2020 Equipment Note amortizes over a 7 -year term. The 2017 Equipment Note, 2019 Equipment Note and the 2020 Equipment Note are subject to compliance with the financial covenants in the Company's ABL Facility. As of March 31, 2020 , the Company was in compliance with these covenants. Term Loan B Facility In January 2019, to fund the purchase price of the Jack Wolfskin acquisition, the Company entered into a Credit Agreement (the “Credit Agreement”) with Bank of America, N.A and other lenders party to the Credit Agreement (the "Term Lenders"). The Credit Agreement provides for a Term Loan B facility (the “Term Loan Facility”) in an aggregate principal of $480,000,000 , which was issued less $9,600,000 in original issue discount and other transaction fees. Such principal amount may be increased pursuant to incremental facilities in the form of additional tranches of term loans or new commitments, up to a maximum incremental amount of $225,000,000 , or an unlimited amount subject to compliance with a first lien net leverage ratio of 2.25 to 1.00. The Term Loan Facility is due in January 2026. As of March 31, 2020 and December 31, 2019 , the Company had $445,200,000 and $446,400,000 , respectively, outstanding under the Term Loan Facility, of which $4,800,000 is reflected in current liabilities. The amount outstanding as of March 31, 2020 was offset by unamortized debt issuance costs of $14,891,000 , of which $2,590,000 was reflected in the short-term portion of the facility, and $12,301,000 was reflected in the long-term portion of the facility in the accompanying consolidated condensed balance sheet. Total interest and amortization expense recognized during the three months ended March 31, 2020 and 2019 was $7,413,000 and $8,780,000 , respectively. Loans under the Term Loan Facility are subject to interest at a rate per annum equal to either, at the Company's option, the LIBOR rate or the base rate, plus 4.50% or 3.50% , respectively. Principal payments of $1,200,000 are due quarterly, however the Company has the option to prepay any outstanding loan balance in whole or in part without premium or penalty. In addition, the Term Loan Facility requires excess cash flow payments beginning after December 31, 2019. In order to mitigate the risk of interest rate fluctuations under the Term Loan Facility, the Company converted $200,357,000 of principal into €176,200,000 , and entered into a cross-currency swap combined with an interest rate hedge with the lenders party to the Credit Agreement to swap the floating rate of LIBOR plus 4.50% to a fixed rate of 4.60% . As of March 31, 2020, the Company unwound the cross-currency swap and maintained the interest rate hedge. During the three months ended March 31, 2020 and 2019, the Company recognized interest income of $1,313,000 and $1,018,000 , respectively, under the cross-currency swap to offset the interest expense recognized under the Term Loan Facility. Loans outstanding under this facility are guaranteed by the Company's domestic subsidiaries. The loans and guaranties are secured by substantially all the assets of the Company and guarantors. The Credit Agreement contains a cross-default provision with respect to any indebtedness of the Company as defined in the Credit Agreement, as well as customary representations and warranties and customary affirmative and negative covenants, including, among other things, restrictions on incurrence of additional debt, liens, dividends and other restricted payments, asset sales, investments, mergers, acquisitions and affiliate transactions. Events of default permitting acceleration under the Credit Agreement include, among others, nonpayment of principal or interest, covenant defaults, material breaches of representations and warranties, bankruptcy and insolvency events, certain cross defaults or a change of control. As of March 31, 2020 , the Company was in compliance with these covenants. The following table presents the Company's combined aggregate amount of maturities for its 2017 Equipment Note, 2019 Equipment Note, 2020 Equipment Note and Term Loan Facility over the next five years and thereafter as of March 31, 2020 . Amounts payable under the Term Loan Facility included below represent the minimum principal repayment obligations. As of March 31, 2020 , the Company does not anticipate excess cash flow repayments as defined by the Term Loan Facility. (in thousands) Remainder of 2020 $ 8,332 2021 11,297 2022 11,519 2023 9,107 2024 8,290 Thereafter 428,835 $ 477,380 Convertible Senior Notes On May 4, 2020, the Company issued $258,750,000 of 2.75% Convertible Senior Notes (the “2026 Notes”). The 2026 Notes bear interest at a rate of 2.75% per annum on the principal amount thereof, payable semi-annually in arrears on May 1 and November 1 of each year, beginning on November 1, 2020. The 2026 Notes will mature on May 1, 2026, unless earlier redeemed or repurchased by the Company or converted. The 2026 Notes will be structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries. In connection with the pricing of the 2026 Notes on April 29, 2020, the Company entered into privately negotiated capped call transactions with Goldman Sachs & Co. LLC, Bank of America, N.A. and Morgan Stanley & Co. LLC as well as with each of the Option Counterparties. The capped call transactions cover the aggregate number of shares of the Company’s common stock that initially underlie the 2026 Notes, and are expected generally to reduce the potential dilution to the Company’s common stock upon any conversion of the notes. The cap price of the capped call transactions is initially $27.10 . The cost of the capped call transactions was approximately $31,800,000 .

Earnings (Loss) per Common Shar

Earnings (Loss) per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings per Common Share	Note 7. 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 takes into account the potential dilution that could occur if outstanding securities were exercised. Dilutive securities are included in the calculation of diluted earnings per common share using the treasury stock method in accordance with ASC Topic 260, “Earnings per Share.” Dilutive securities include outstanding stock options, restricted stock units and performance share units granted to employees and non-employee directors (see Note 15 ). 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 2020 2019 Earnings per common share—basic Net income attributable to Callaway Golf Company $ 28,894 $ 48,647 Weighted-average common shares outstanding—basic 94,309 94,684 Basic earnings per common share $ 0.31 $ 0.51 Earnings per common share—diluted Net income attributable to Callaway Golf Company $ 28,894 $ 48,647 Weighted-average common shares outstanding—basic 94,309 94,684 Outstanding options, restricted stock units and performance share units 1,367 1,735 Weighted-average common shares outstanding—diluted 95,676 96,419 Diluted earnings per common share $ 0.30 $ 0.50 As of March 31, 2020 , there were no anti-dilutive securities and as such, there were no securities excluded from the calculation of diluted earnings per common share. As of March 31, 2019 , the Company had a nominal number of securities that had an anti-dilutive effect on the calculation of diluted earnings per common share. Such securities were excluded from the calculation.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Note 8. Inventories Inventories are summarized below (in thousands): March 31, December 31, 2019 Inventories: Raw materials $ 75,823 $ 76,140 Work-in-process 1,079 860 Finished goods 335,788 379,639 $ 412,690 $ 456,639

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 9. Goodwill and Intangible Assets Goodwill at March 31, 2020 decreased to $200,787,000 from $203,743,000 at December 31, 2019 . This $2,956,000 decrease was primarily due changes in foreign currency rates period over period. The Company's goodwill is reported in both the Golf Equipment and Apparel, Gear and Other operating segments (see Note 19 ). In accordance with ASC Topic 350, “Intangibles—Goodwill and Other,” the Company’s goodwill and non-amortizing intangible assets are subject to an annual impairment test or more frequently when impairment indicators are present. The Company considered the recent economic impacts caused by the COVID-19 pandemic, combined with the fact that the historical fair value of its reporting units has exceeded their carrying values, and concluded there was no impairment as of March 31, 2020. As such, there were no impairment charges recognized during the three months ended March 31, 2020 as well as in the comparable period in 2019. Due to the economic uncertainty created by the COVID-19 pandemic, the Company will continue to monitor the impacts of COVID-19 on its business as new developments occur. The following sets forth the intangible assets by major asset class (dollars in thousands): Useful Life (Years) March 31, 2020 December 31, 2019 Gross (1) Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Indefinite-lived: Trade name, trademark, trade dress and other NA $ 450,015 $ — $ 450,015 $ 453,837 $ — $ 453,837 Amortizing: Patents 2-16 31,581 31,581 — 31,581 31,581 — Customer and distributor relationships and other 1-10 53,683 15,834 37,849 53,904 14,318 39,586 Total intangible assets $ 535,279 $ 47,415 $ 487,864 $ 539,322 $ 45,899 $ 493,423 (1) The gross balance of intangible assets as of March 31, 2020 includes a reduction due to the impact of foreign exchange rates of $3,822,000 on the Jack Wolfskin non-amortizing intangible asset, as well as $557,000 on the amortizing customer and distributor relationships. Aggregate amortization expense on intangible assets was approximately $1,180,000 and $1,220,000 for the three months ended March 31, 2020 and 2019 , respectively. Amortization expense related to intangible assets at March 31, 2020 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands): Remainder of 2020 $ 3,584 2021 4,724 2022 4,548 2023 4,409 2024 4,409 Thereafter 16,175 $ 37,849

Joint Venture

Joint Venture	3 Months Ended
	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Joint Venture	Note 10. Joint Venture The Company had a joint venture in Japan, Callaway Apparel K.K., with its long-time apparel licensee, TSI Groove & Sports Co, Ltd., ("TSI") for the design, manufacture and distribution of Callaway-branded apparel, footwear and headwear in Japan. In July 2016, 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% . In May 2019, the Company entered into a stock purchase agreement with TSI to acquire the remaining shares comprising the 48% ownership in Callaway Apparel K.K. for 2 billion Yen, or approximately $18,538,000 (using the exchange rate in effect on the acquisition date). The purchase was completed as of May 31, 2019 and, pursuant to the stock purchase agreement, the purchase price was paid in August 2019. As of March 31, 2020 , the Company owned 100% of this entity and controlled all matters pertaining to its business operations and significant management decisions. Callaway Apparel K.K. is consolidated one month in arrears. During the three months ended March 31, 2019, the Company recorded a net loss attributable to the non-controlling interest of $146,000 in its consolidated condensed statements of operations. As a result of the acquisition, the Company did not recognize net income attributable to non-controlling interests during the three months ended March 31, 2020 .

Investments

Investments	3 Months Ended
	Mar. 31, 2020
Investments, All Other Investments [Abstract]
Investments	Note 11. Investments Investment in Topgolf International, Inc. The Company owns a minority interest of approximately 14.0% 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, and other rights incidental to those listed above. Topgolf is a privately held company, and as such, the common and preferred shares comprising the Company’s investment are illiquid and their fair value is not readily determinable. The Company accounts for changes in fair value in accordance with ASU No. 2016-01, which requires equity securities without a readily determinable fair value to be measured at cost, less impairments if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. There were no additional investments by the Company in Topgolf in each of the three months ended March 31, 2020 or 2019. The Company's total investment in Topgolf as of both March 31, 2020 and December 31, 2019 was $90,134,000 . Since the adoption of ASU 2016-01, there were no observable transactions which would provide an estimate of fair value. As such, at March 31, 2020 and December 31, 2019, the Company's investment in Topgolf is reflected at cost less impairments in accordance with ASU No. 2016-01. As of March 31, 2020 , the Company has not recorded any impairments with respect to this investment. If in the future there is an observable price change as a result of an orderly transaction for the identical or similar investment in Topgolf, the Company would be required to assess the fair value impact, if any, on each identified or similar class of Topgolf stock held by the Company, and write such stock up or down to its estimated fair value, which could have a material effect on the Company's financial position and results of operations.

Product Warranty

Product Warranty	3 Months Ended
	Mar. 31, 2020
Guarantees [Abstract]
Product Warranty	Note 12. Product Warranty The Company has a stated two-year warranty policy for its golf clubs and certain Jack Wolfskin gear, as well as a limited lifetime warranty for its OGIO line of products. 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 Company’s estimates for calculating the warranty reserve are principally based on assumptions regarding the warranty costs of each product line over the expected warranty period. Where little or no claims experience may exist, the Company’s warranty obligation calculation is based upon long-term historical warranty rates of similar products until sufficient data is available. As actual model-specific rates become available, the Company’s estimates are modified to reflect the range of likely outcomes. The warranty provision for the three months ended March 31, 2020 and March 31, 2019 includes the warranty reserves assumed in connection with the Jack Wolfskin acquisition (see Note 5 ). The following table provides a reconciliation of the activity related to the Company’s reserve for warranty expense (in thousands): Three Months Ended 2020 2019 Beginning balance $ 9,636 $ 7,610 Provision 1,808 2,479 Provision liability assumed from acquisition — 2,327 Claims paid/costs incurred (1,653 ) (1,633 ) Ending balance $ 9,791 $ 10,783

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 13. Income Taxes The Company calculates its interim income tax provision in accordance with ASC Topic 270, “Interim Reporting,” and ASC Topic 740 “Accounting for Income Taxes.” 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. In January 2019, the Company acquired Jack Wolfskin for approximately $521,201,000 (including cash acquired of $58,096,000 ). The Company recorded a deferred tax liability of $88,392,000 related to the intangibles upon acquisition in addition to $11,384,000 deferred tax assets acquired (see Note 5 ). 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 historical profitability, combined with future projections of profitability, the Company has determined that the majority of its U.S. deferred tax assets are more likely than not to be realized. The valuation allowance on the Company’s U.S. deferred tax assets as of March 31, 2020 primarily relates to state net operating loss carryforwards and credits that the Company estimates it may not be able to utilize in future periods. With respect to Jack Wolfskin and previously existing 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 Company has considered the business disruption impacts from the COVID-19 pandemic and determined that this hasn’t impacted the realization of its deferred tax assets. As this is a dynamically evolving business disruption, the Company will continue to evaluate the COVID-19-related impacts on the realization of its deferred tax assets as new information becomes available. The Company's income tax provision was $9,151,000 and $9,556,000 for the three months ended March 31, 2020 and 2019 , respectively. The decrease in the provision was primarily due to a decrease in pre-tax income compared to 2019. As a percentage of pre-tax income, the Company's effective tax rate increased to 24.1% in the first quarter of 2020 compared to 16.5% in the first quarter of 2019 , primarily due to a shift in the mix of foreign earnings relative to the prior year combined with a decrease in earnings resulting from the business disruptions caused by the COVID-19 pandemic. At March 31, 2020 , the gross liability for income taxes associated with uncertain tax positions was $26,380,000 . Of this amount, $11,129,000 would benefit the Company’s consolidated condensed financial statements and effective income tax rate if favorably settled. The unrecognized tax liabilities are expected to decrease by approximately $449,000 during the next 12 months. The gross liability for uncertain tax positions increased by $387,000 for the three months ended March 31, 2020 . The increase was primarily due to increases in tax positions taken during the current quarter. The Company recognizes interest and penalties related to income tax matters in income tax expense. For the three months ended March 31, 2020 and 2019 , the Company's provision for income taxes includes an expense of $29,000 and $32,000 , respectively, related to the recognition of interest and/or penalties. As of March 31, 2020 and December 31, 2019 , the gross amount of accrued interest and penalties included in income taxes payable in the accompanying consolidated condensed balance sheets was $1,698,000 and $1,669,000 , 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 (U.S.) 2008 and prior Germany 2014 and prior Japan 2013 and prior South Korea 2014 and prior United Kingdom 2015 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 and credits it could use to offset its tax liabilities, the Company's results of operations and cash flows could be adversely impacted.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. 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 on an annual basis. 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 athletes 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. The amounts listed approximate minimum purchase obligations, base compensation, and guaranteed minimum royalty payments the Company is obligated to pay under these agreements. The actual amounts paid under some of these agreements may be higher or lower than the amounts included. In the aggregate, the actual amount paid under these obligations is likely to be higher than the amounts listed as a result of the variable nature of these obligations. The Company has entered into many of these contractual agreements with terms ranging from one to four years. The minimum obligation that the Company is required to pay as of March 31, 2020 under these agreements is $115,205,000 over the next four years as follows (in thousands): Remainder of 2020 $ 52,402 2021 29,681 2022 19,988 2023 10,335 2024 2,799 $ 115,205 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. 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 $1,375,000 as of March 31, 2020 . 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 consolidated financial statements. The fair value of indemnities, commitments and guarantees that the Company issued as of March 31, 2020 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 salary continuation, upon the termination of employment following a change in control.

Share-Based Employee Compensati

Share-Based Employee Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Employee Compensation	Note 15. Share-Based Employee Compensation As of March 31, 2020, 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, performance share units, phantom stock units, stock appreciation rights and other awards under these plans. The Company accounts for its share-based compensation arrangements in accordance with ASC Topic 718, which requires the measurement and recognition of compensation expense for all share-based payment awards to employees and directors based on estimated fair values, and ASU No. 2014-12 for stock awards that are subject to performance measures. ASC Topic 718 further requires a reduction in share-based compensation expense by an estimated forfeiture rate. The forfeiture rate used by the Company is based on historical forfeiture trends. If actual forfeiture rates are not consistent with the Company’s estimates, the Company may be required to increase or decrease compensation expenses in future periods. Restricted Stock Units Restricted stock units awarded under the 2004 Incentive Plan and the 2013 Directors Plan are valued at the Company’s closing stock price on the date of grant. Restricted stock units generally vest over a one- to five-year period. Compensation expense for restricted stock units is recognized on a straight-line basis over the vesting period and is reduced by an estimate for forfeitures. During the three months ended March 31, 2020 and 2019 , the Company granted 268,000 and 400,000 shares underlying restricted stock units, respectively, at a weighted average grant-date fair value of $19.67 and $15.17 per share, respectively. Total compensation expense, net of estimated forfeitures, recognized for restricted stock units was $1,615,000 and $1,799,000 , for the three months ended March 31, 2020 and 2019 , respectively. At March 31, 2020 , the Company had $12,132,000 of total unamortized compensation expense related to non-vested restricted stock units. That cost is expected to be recognized over a weighted-average period of 2.2 years . Performance Based Awards Performance based awards 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 five-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. The Company grants two types of performance based awards: performance share units and awards subject to total shareholder return metrics under the 2004 Incentive Plan. Performance share units are initially valued at the Company's closing stock price on the date of grant. Stock compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the vesting period. The expense recognized over the vesting period is adjusted up or down 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 share units cliff-vest in full over a period of three to five years from the date of grant. Performance share units with total shareholder return requirements are awards that compare the performance of the Company's common stock over a three-year period to that of the Company's peer group. The fair value of these awards is derived using the Monte Carlo simulation which utilizes the stock volatility, dividend yield and market correlation of the Company and the Company's peer group. The Monte Carlo fair value is expensed on a straight-line basis over the vesting period, net of estimated forfeitures. The awards are forfeited if the threshold performance metrics are not achieved as of the end of the performance period. The performance share units cliff-vest in full over a three-year vesting period. The Company granted 125,000 and 226,000 shares underlying performance share units during the three months ended March 31, 2020 and 2019 , respectively, at a weighted average grant-date fair value of $19.66 and $15.17 per share, respectively. The awards granted during 2020 and 2019 are subject to a three- to five-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, participants earned a minimum of 50% of the target award shares granted in 2019 , and 80% of the target award shares granted in 2018, in each case subject to continued service through the vesting date. During the three months ended March 31, 2020 and 2019, the Company granted 125,000 and 149,000 shares underlying performance share units subject to total shareholder return requirements, respectively, at a weighted average grant-date fair value of $23.22 and $16.96 , respectively. During the three months ended March 31, 2020, the Company performed a remeasurment of these awards based on the Company’s most recent financial targets resulting in a reduction to expense. During the three months ended March 31, 2020 and 2019 , the Company recognized total compensation expense, net of estimated forfeitures, for performance based awards of $245,000 and $1,636,000 , respectively. The decrease in expense reflects a decrease in the anticipated degree of achievement against the performance metrics established on performance-based awards as a result of the uncertain future economic impact on the Company's business due to the COVID-19 pandemic. At March 31, 2020 , unamortized compensation expense related to these awards was $7,732,000 , which is expected to be recognized over a weighted-average period of 2.0 years . Share-Based Compensation Expense The table below summarizes the amounts recognized in the financial statements for the three months ended March 31, 2020 and 2019 for share-based compensation, including expense for restricted stock units and performance share units (in thousands). Three Months Ended 2020 2019 Cost of sales $ 156 $ 249 Operating expenses 1,705 3,186 Total cost of share-based compensation included in income, before income tax $ 1,861 $ 3,435

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 16. 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 17 ) that are measured at fair value on a recurring basis by the above pricing levels at March 31, 2020 and December 31, 2019 (in thousands): Fair Value Level 1 Level 2 Level 3 March 31, 2020 Foreign currency forward contracts—asset position $ 7,109 $ — $ 7,109 $ — Foreign currency forward contracts—liability position (1,888 ) — (1,888 ) — Interest rate hedge agreements—liability position (19,690 ) — (19,690 ) — $ (14,469 ) $ — $ (14,469 ) $ — December 31, 2019 Foreign currency forward contracts—asset position $ 61 $ — $ 61 $ — Foreign currency forward contracts—liability position (766 ) — (766 ) — Cross-currency debt swap agreements—asset position 6,163 — 6,163 — Cross-currency debt swap agreements—liability position (25 ) — (25 ) — Interest rate hedge agreements—asset position (8,894 ) — (8,894 ) — $ (3,461 ) $ — $ (3,461 ) $ — The fair value of the Company’s foreign currency forward contracts and cross-currency debt swap contracts are 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 and cross-currency debt swap contracts designated as cash flow hedges are recorded in accumulated other comprehensive income (loss) until recognized in earnings during the period that the hedged transactions take place. The fair value of interest rate hedge contracts are based on observable inputs that are corroborated by market data. Observable inputs include daily market foreign currency rates and interest rate curves. Remeasurement gains and losses are recorded in accumulated other comprehensive income (loss) until recognized in earnings as interest payments are made or received on the Company’s variable-rate debt. Remeasurement gains and losses on foreign currency forward contracts that are not-designated as cash flow hedges are recorded in other income (expense) (see Note 17 ). Disclosures about the Fair Value of Financial Instruments The carrying values of cash and cash equivalents at March 31, 2020 and December 31, 2019 are categorized within Level 1 of the fair value hierarchy. The table below summarizes information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated condensed balance sheets as of March 31, 2020 and December 31, 2019 , as well as the fair value of contingent contracts that represent financial instruments (in thousands). March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility (1) $ 445,200 $ 411,810 $ 446,400 $ 450,864 Primary Asset-Based Revolving Credit Facility (2) $ 300,257 $ 300,257 $ 114,480 $ 114,480 Japan ABL Facility (2) $ 35,336 $ 35,336 $ 30,100 $ 30,100 Equipment notes (3) $ 28,283 $ 28,283 $ 19,715 $ 19,715 Standby letters of credit (4) $ 1,375 $ 1,375 $ 1,075 $ 1,075 (1) In January 2019, the Company entered into the Term Loan Facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. The fair value of the Term Loan Facility as of March 31, 2020 was affected by volatile market conditions resulting from to the COVID-19 pandemic. See Note 6 for further information. (2) The carrying value of the amounts outstanding under the Company's ABL Facility and Japan ABL Facility 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 based on the observable market borrowing rates. See Note 6 for information on the Company's credit facilities, including certain risks and uncertainties related thereto. (3) In December 2017, August 2019 and March 2020, the Company entered into equipment notes that are both secured by certain equipment at the Company's golf ball manufacturing facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 6 for further information. (4) 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, using the exchange rates in effect at March 31, 2020 and December 31, 2019 . As such, the fair value of this contingent obligation is categorized within Level 2 of the fair value hierarchy. Nonrecurring Fair Value Measurements The Company measures certain assets at fair value on a nonrecurring basis at least annually or more frequently if certain indicators are present. These assets include long-lived assets, goodwill, non-amortizing intangible assets and investments 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, 2020 and 2019 , there were no impairments recorded related to the Company's assets that are measured at fair value on a nonrecurring basis. Assets purchased in connection with the acquisitions of Jack Wolfskin were valued at their fair value on the date of purchase (see Note 5

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Note 17. 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 well as fluctuations in foreign currency exchange rates and changes in interest rates relating to its long-term debt. The Company uses designated cash flow hedges and non-designated hedges in the form of foreign currency forward contracts as part of its strategy to manage the level of exposure to the risk of fluctuations in foreign currency exchange rates and 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 also uses cross-currency debt swap contracts and interest rate hedge contracts to mitigate the impact of variable rates on its long-term debt as well as changes in foreign currencies. The Company accounts for its foreign currency forward contracts, cross-currency debt swap contracts and interest rate hedge contracts in accordance with 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 accumulated other comprehensive income (loss) and released into earnings as a component of cost of goods sold or net sales, other income (expense) and interest expense during the period in which the hedged transaction takes place. Remeasurement gains or losses of derivatives that are not elected for hedge accounting treatment are recorded in earnings immediately as a component of other income (expense). Foreign currency forward contracts, cross-currency debt swap contracts and interest rate hedge 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 and changes in interest rates. The Company does not enter into foreign currency forward contracts, cross-currency debt swap contracts and interest rate hedge 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 derivative instruments as well as the location of the asset and/or liability on the consolidated condensed balance sheets at March 31, 2020 and December 31, 2019 (in thousands): Balance Sheet Location Fair Value of Asset Derivatives March 31, 2020 December 31, 2019 Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Other current assets $ 1,395 $ 53 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 5,714 $ 8 Balance Sheet Location Fair Value of Liability Derivatives March 31, 2020 December 31, 2019 Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 129 $ 24 Cross-currency debt swap agreements Accounts payable and accrued expenses — 25 Interest rate hedge agreements Accounts payable and accrued expenses 4,402 1,865 Other long-term liabilities 15,288 7,030 Total $ 19,819 $ 8,944 Derivatives not designated as hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 1,759 $ 741 The Company's derivative instruments 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, 2020 and December 31, 2019 . Cash Flow Hedging Instruments Foreign Currency Forward Contracts The Company uses foreign currency derivatives designated as qualifying cash flow hedging instruments, including foreign currency forward contracts 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, 2020 , the notional amounts of the Company's foreign currency forward contracts designated as cash flow hedge instruments were approximately $75,968,000 . At December 31, 2019 , the Company had no outstanding foreign currency forward contracts designated as cash flow hedge instruments. As of March 31, 2020 , the Company recorded a net gain of $2,410,000 in accumulated other comprehensive income (loss) related to foreign currency forward contracts. Of this amount, net losses of $1,000 for the three months ended March 31, 2020 were relieved from accumulated other comprehensive income (loss) and recognized in cost of goods sold for the underlying intercompany sales that were recognized, and net gains $232,000 for the three months ended March 31, 2020 , were relieved from accumulated other comprehensive income (loss) related to the amortization of forward points. There were no ineffective hedge gains or losses recognized during the three months ended March 31, 2020 . Based on the current valuation, the Company expects to reclassify net gains of $2,178,000 from accumulated other comprehensive income (loss) into net earnings during the next 12 months. The Company recognized a net gain of $178,000 in cost of goods sold for the three months ended March 31, 2019 . Cross-Currency Debt Swap and Interest Rate Hedge Contract In order to mitigate the risk of changes in interest rates associated with the Company's variable-rate Term Loan Facility, the Company used a cross-currency debt swap and interest rate hedge, both designated as cash flow hedges (see Note 6 ) by converting a portion of the USD denominated Term Loan Facility, which has a higher variable interest rate, to a Euro denominated synthetic note at a lower fixed rate. As of March 31, 2020, the Company unwound the cross currency swap, but maintained the interest rate hedge in order to continue mitigating the risk of changes in interest rates. Over the life of the facility, the Company will receive variable interest payments from the counterparty lenders in exchange for the Company making fixed rate payments, without exchange of the underlying notional amount. As of March 31, 2020 , the notional amount outstanding under the interest rate hedge contract was $197,853,000 . As of December 31, 2019 , the notional amount outstanding under the cross-currency debt swap and interest rate hedge contract was $198,353,000 . During the three months ended March 31, 2020 , the Company recorded a net gain of $15,081,000 , respectively, in accumulated other comprehensive income (loss) related to the remeasurement of the cross currency swap contract. Of this amount, net gains of $7,048,000 were relieved from accumulated other comprehensive income (loss), of which $1,313,000 was recognized in interest expense and $5,735,000 related to foreign currency exchange was recognized in other income (expense) during the three months ended March 31, 2020 . The Company recognized net gains of $3,714,000 in interest expense during the three months ended March 31, 2019. During the three months ended March 31, 2020 the Company recorded a net loss of $11,233,000 related to the remeasurement of the interest rate hedge contract. Of this amount, net losses of $434,000 were relieved from accumulated other comprehensive income (loss) and recognized in interest expense during the three months ended March 31, 2020 . The Company recognized net losses of $10,000 in interest expense during the three months ended March 31, 2019. Based on the current valuation, the Company expects to reclassify a net loss of $4,410,000 from accumulated other comprehensive income (loss) into earnings during the next 12 months. 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, 2020 and 2019 (in thousands): Gain/(Loss) Recognized in Other Comprehensive Income Three Months Ended Derivatives designated as cash flow hedging instruments 2020 2019 Foreign currency forward contracts $ 2,410 $ 546 Cross-currency debt swap agreements 15,081 4,071 Interest rate hedge agreements (11,233 ) (3,941 ) $ 6,258 $ 676 Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings (Effective Portion) Three Months Ended Derivatives designated as cash flow hedging instruments 2020 2019 Foreign currency forward contracts $ 233 $ 146 Cross-currency debt swap agreements 7,048 3,714 Interest rate hedge agreements (434 ) (10 ) $ 6,847 $ 3,850 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, 2020 and December 31, 2019 , the notional amounts of the Company’s foreign currency forward contracts used to mitigate the exposures discussed above were approximately $193,617,000 and $72,119,000 , respectively. 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 consolidated condensed statements of operations. The foreign currency contracts are classified under Level 2 of the fair value hierarchy (see Note 16 ). 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, 2020 and 2019 , respectively, in addition to the derivative contract type (in thousands): Location of Net Gain Recognized in Income on Derivative Instruments Amount of Net Gain/(Loss) Recognized in Income on Derivative Instruments Derivatives not designated as hedging instruments Three Months Ended 2020 2019 Foreign currency forward contracts Other expense, net $ 5,856 $ 750 In addition, for the three months ended March 31, 2020 and 2019, the Company recognized net foreign currency losses of $5,147,000 and $5,338,000 , respectively, related to transactions with its foreign subsidiaries, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 18. Accumulated Other Comprehensive 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, 2020 . Amounts are in thousands. Derivative Instruments Foreign Currency Translation Total Accumulated other comprehensive loss, December 31, 2019, after tax $ (4,203 ) $ (18,219 ) $ (22,422 ) Change in derivative instruments 6,258 — 6,258 Net gains reclassified to cost of goods sold (233 ) — (233 ) Net gains reclassified to other income (expense) (5,735 ) — (5,735 ) Net gains reclassified to interest expense (879 ) — (879 ) Income tax benefit on derivative instruments 430 — 430 Foreign currency translation adjustments — (14,936 ) (14,936 ) Accumulated other comprehensive loss, March 31, 2020, after tax $ (4,362 ) $ (33,155 ) $ (37,517 )

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 19. Segment Information The Company has two reportable operating segments: Golf Equipment operating segment and Apparel, Gear and Other operating segment. The Golf Equipment operating segment, which is comprised of golf club and golf ball products, includes Callaway Golf branded woods, hybrids, irons, wedges, Odyssey putters, including Toulon Design putters by Odyssey, packaged sets, Callaway Golf and Strata branded golf balls and sales of pre-owned golf clubs. The Apparel, Gear and Other operating segment includes the newly acquired Jack Wolfskin outdoor apparel, gear and accessories business, the TravisMathew golf and lifestyle apparel and accessories business, and the Callaway and Ogio business, which consists of golf apparel and accessories, storage gear for sport and personal use, and royalties from licensing of the Company’s trademarks and service marks for various soft goods products. There are no significant intersegment transactions during the three months ended March 31, 2020. The tables below contain information utilized by management to evaluate its operating segments for the interim periods presented (in thousands). Three Months Ended 2020 2019 (1) Net sales: Golf Equipment $ 291,661 $ 323,619 Apparel, Gear and Other 150,615 192,578 $ 442,276 $ 516,197 Income before income taxes: Golf Equipment $ 58,620 $ 70,652 Apparel, Gear and Other (3,799 ) 22,060 Reconciling items (2) (16,776 ) (34,655 ) $ 38,045 $ 58,057 Additions to long-lived assets: (3) Golf Equipment $ 16,962 $ 5,417 Apparel, Gear and Other 10,124 4,392 $ 27,086 $ 9,809 (1) The Company continues to refine its expense allocation methodology between operating segments. As a result, the Company reclassified certain information technology expenses between the segments in the first quarter of 2019 in order to conform with the current presentation. (2) Reconciling items represent the deduction of corporate general and administration expenses and other income (expenses), which are not utilized by management in determining segment profitability. The decrease in reconciling items for the three months ended March 31, 2020 compared to March 31, 2019 was primarily due to an increase of $8,325,000 in net gains recognized on hedging contracts combined with a decrease, primarily in employee costs and general and administrative expenses, in the first quarter of 2020. Additionally, during the first quarter of 2019, the reconciling items included non-recurring charges of $4,723,000 in the first quarter of 2019 related to the acquisition of Jack Wolfskin. See Note 6 for information on the Company's credit facilities and long-term debt obligations. (3) Additions to long-lived assets are comprised of purchases of property, plant and equipment.

Subsequent Event (Notes)

Subsequent Event (Notes)	3 Months Ended
	Mar. 31, 2020
Subsequent Event [Abstract]
Subsequent Events	Note 20. Subsequent Event The Company's golf equipment and soft goods businesses in the first quarter of 2020 were significantly, adversely impacted by the COVID-19 outbreak, which the World Health Organization declared a pandemic in early March 2020. The pandemic resulted in the temporary closure of many of the Company's facilities around the world, including its headquarters in the U.S., sales offices, distribution centers, manufacturing facilities and retail locations. As a result of these regulatory responses, portions of the Company's worldwide business operated, and continues to operate, on a limited basis. This had a significant adverse impact on the Company's net sales in the first quarter of 2020, most notably in its retail and wholesale businesses. While this business disruption is expected to be temporary, the current circumstances are dynamic and the impacts of COVID-19 on the Company’s business operations, including the duration and impact on overall customer demand, cannot be reasonably estimated at this time. The Company will continue to monitor its business and market conditions as new developments occur.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Recent Accounting Standards	Recent Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU removes specific exceptions to the general principles in Accounting Standards Codification ("ASC") Topic 740, "Accounting for Income Taxes" ("Topic 740") and simplifies certain U.S. GAAP requirements. ASU 2019-12 is effective for public filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its consolidated condensed financial statements and disclosures. Adoption of New Accounting Standards On January 1, 2020, the Company adopted ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("Topic 326") utilizing the modified retrospective approach. This new standard is intended to improve financial reporting by requiring timelier recording of credit losses on the Company's trade account receivable and requires the measurement of all expected credit losses based on historical experience, current conditions, and reasonable and supportable forecasts. Upon the completion of the Company's assessment of Topic 326, the Company concluded that its prior methodology of estimating credit losses on its trade accounts receivable closely aligns with the requirements of the new standard, and therefore, the adoption of this ASU did not have a material impact on the Company consolidated condensed financial statements. For further information, see Note 4 . Upon adoption of Topic 326, the Company recorded a cumulative adjustment to beginning retained earnings of $289,000 , which reflected an increase to the allowance for doubtful accounts. As the impact to the Company's consolidated condensed financial statements in the first quarter of 2020 was not material, prior period information that is presented for comparative purposes has not been restated and continues to be reported under the accounting standards that were in effect during those periods. On January 1, 2020, the Company adopted ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU removed, modified or added to the disclosure requirements for fair value measurements in ASC Topic 820, "Fair Value Measurement" ("Topic 820"). The adoption of this ASU did not have a material impact on the Company's consolidated condensed financial statements and disclosures.
Revenue Recognition	Product Sales The Company recognizes revenue from the sale of its products when it satisfies the terms of a sales order from a customer, and transfers control of the products ordered to the customer. Control transfers when products are shipped, and in certain cases, when products are received by customers. In addition, the Company recognizes revenue at the point of sale on transactions with consumers at its retail locations. Sales taxes, value added taxes and other taxes that are collected in connection with revenue transactions are withheld and remitted to the respective taxing authorities. As such, these taxes are excluded from revenue. The Company elected to account for shipping and handling as activities to fulfill the promise to transfer the good. Therefore, shipping and handling fees that are billed to customers are recognized in revenue and the associated shipping and handling costs are recognized in cost of goods sold as soon as control of the goods transfers to the customer. Royalty Income Royalty income is recognized over time in net sales as underlying product sales occur, subject to certain minimum royalties, in accordance with the related licensing arrangements. Royalty income is included in the Company's Apparel, Gear and Other operating segment. Total royalty income for the three months ended March 31, 2020 and 2019 was $5,545,000 and $4,678,000 , respectively. Gift Cards Revenues from gift cards are deferred and recognized when the cards are redeemed. The Company’s gift cards have no expiration date. The Company recognizes revenue from unredeemed gift cards, otherwise known as breakage, when the likelihood of redemption becomes remote and under circumstances that comply with any applicable state escheatment laws. To determine when redemption is remote, the Company analyzes an aging of unredeemed cards (based on the date the card was last used or the activation date if the card has never been used) and compares that information with historical redemption trends. The Company uses this historical redemption rate to recognize breakage on unredeemed gift cards over the redemption period. The Company does not believe there is a reasonable likelihood that there will be a material change in the future estimates or assumptions used to determine the timing of recognition of gift card revenues. As of March 31, 2020 and December 31, 2019 , the Company's deferred revenue liability for gift cards was $1,990,000 and $2,190,000 , respectively. During the three months ended March 31, 2020 and 2019 , the Company recognized $525,000 and $389,000 of deferred gift card revenue, respectively. Variable Consideration The amount of revenue the Company recognizes is based on the amount of consideration it expects to receive from customers. The amount of consideration is the sales price adjusted for estimates of variable consideration, including sales returns, discounts and allowances as well as sales programs, sales promotions and price concessions that are offered by the Company as described below. These estimates are based on the amounts earned or to be claimed by customers on the related sales, and are therefore recorded as reductions to sales and trade accounts receivable. The Company’s primary sales program, the “Preferred Retailer Program,” offers potential rebates and discounts for participating retailers in exchange for providing certain benefits to the Company, including the maintenance of agreed upon inventory levels, prime product placement and retailer staff training. Under this program, qualifying retailers can earn either discounts or rebates based upon the amount of product purchased. Discounts are applied and recorded at the time of sale. For rebates, the Company estimates the amount of variable consideration related to the rebate at the time of sale based on the customer’s estimated qualifying current year product purchases. The estimate is based on the historical level of purchases, adjusted for any factors expected to affect the current year purchase levels. The estimated year-end rebate is adjusted quarterly based on actual purchase levels, as necessary. The Preferred Retailer Program is generally short-term in nature and the actual amount of rebate to be paid under this program is known as of the end of the year and paid to customers shortly after year-end. Historically, the Company's actual amount of variable consideration related to its Preferred Retailer Program has not been materially different from its estimates. The Company also offers short-term sales program incentives, which include sell-through promotions and price concessions or price reductions. Sell-through promotions are generally offered throughout the product's life cycle of approximately two years, and price concessions or price reductions are generally offered at the end of the product's life cycle. The estimated variable consideration related to these programs is based on a rate that includes historical and forecasted data. The Company records a reduction to net sales using this rate at the time of the sale. The Company monitors this rate against actual results and forecasted estimates, and adjusts the rate as deemed necessary in order to reflect the amount of consideration it expects to receive from its customers. There were no material changes to the rate during the three months ended March 31, 2020 and 2019. Historically, the Company's actual amount of variable consideration related to these sales programs has not been materially different from its estimates. The Company records an estimate for anticipated returns as a reduction of sales and cost of sales, and accounts receivable, in the period that the related sales are recorded. Sales returns are estimated based upon historical returns, current economic trends, changes in customer demands and sell-through of products. The Company also offers certain customers sales programs that allow for specific returns. The Company records a return liability as an offset to accounts receivable for anticipated returns related to these sales programs at the time of the sale based on the terms of the sales program. The cost recovery of inventory associated with this reserve is accounted for in other current assets. Historically, the Company’s actual sales returns have not been materially different from management’s original estimates.

Estimated Credit Losses (Polici

Estimated Credit Losses (Policies)	3 Months Ended
	Mar. 31, 2020
Estimated Credit Losses [Abstract]
Estimated Credit Losses	Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. An estimate of credit losses for the remaining customers in the aggregate is based upon historical bad debts, current customer receivable balances, age of customer receivable balances, the customers' financial condition, all of which are subject to change. Additionally, the Company’s monitoring activities now consider future reasonable and supportable forecasts of economic conditions to adjust all general reserve percentages as necessary. Balances are written off when determined to be uncollectible.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows (in thousands): Balance Sheet Location March 31, 2020 December 31, 2019 Operating leases ROU assets, net Operating lease ROU assets, net $ 193,829 $ 160,098 Lease liabilities, short-term Operating lease liabilities, short-term $ 28,544 $ 26,418 Lease liabilities, long-term Operating lease liabilities, long-term $ 175,954 $ 137,696 Finance Leases ROU assets, net, Other assets $ 1,108 $ 1,263 Lease liabilities, short-term Accounts payable and accrued expenses $ 542 $ 589 Lease liabilities, long-term Long-term other $ 509 $ 558
Components of Lease Expense and Other Information Related to Leases	The components of lease expense are as follows (in thousands): Three Months Ended 2020 2019 Operating lease costs $ 11,022 $ 8,897 Financing lease costs: Amortization of right-of-use assets 167 257 Interest on lease liabilities 11 25 Total financing lease costs 178 282 Variable lease costs 1,296 1,340 Total lease costs $ 12,496 $ 10,519 Other information related to leases was as follows (in thousands): Three Months Ended Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 9,331 $ 8,714 Operating cash flows from finance leases $ 11 $ 25 Financing cash flows from finance leases $ 109 $ 114 Lease liabilities arising from new ROU assets: Operating leases $ 51,851 $ 3,059 Finance leases $ 22 $ — March 31, December 31, Weighted average remaining lease term (years): Operating leases 10.1 6.6 Finance leases 2.7 2.7 Weighted average discount rate: Operating leases 5.4 % 5.5 % Finance leases 4.1 % 4.5 %
Future Minimum Lease Obligations	Future minimum lease obligations as of March 31, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 29,289 $ 510 2021 34,284 245 2022 29,864 204 2023 26,016 94 2024 22,586 23 Thereafter 126,550 23 Total future lease payments 268,589 1,099 Less: imputed interest 64,091 48 Total $ 204,498 $ 1,051
Future Minimum Lease Obligations	Future minimum lease obligations as of March 31, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 29,289 $ 510 2021 34,284 245 2022 29,864 204 2023 26,016 94 2024 22,586 23 Thereafter 126,550 23 Total future lease payments 268,589 1,099 Less: imputed interest 64,091 48 Total $ 204,498 $ 1,051

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue	The following table presents the Company's revenue disaggregated by major product category and operating and reportable segment (in thousands): Operating and Reportable Segments Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Golf Equipment Apparel, Gear & Other Total Golf Equipment Apparel, Gear & Other Total Major product category: Golf Clubs $ 251,224 $ — $ 251,224 $ 261,785 $ — $ 261,785 Golf Balls 40,437 — 40,437 61,834 — 61,834 Apparel — 77,290 77,290 — 96,246 96,246 Gear, Accessories & Other — 73,325 73,325 — 96,332 96,332 $ 291,661 $ 150,615 $ 442,276 $ 323,619 $ 192,578 $ 516,197 The Company sells its golf equipment products and apparel, gear and accessories in the United States and internationally, with its principal international regions being Japan and Europe. As the majority of the Company's sales are concentrated in golf equipment products, sales of golf equipment are generally higher on a regional basis, with the exception of Europe, which has a higher concentration of sales of apparel, gear and other as a result of the Jack Wolfskin acquisition completed in January 2019. The following table presents information about the geographical areas in which the Company operates. Revenues are attributed to the location to which the product was shipped (in thousands): Three Months Ended 2020 2019 Major Geographic Region: United States $ 217,503 $ 249,001 Europe 96,719 126,613 Japan 77,347 73,228 Rest of World 50,707 67,355 $ 442,276 $ 516,197

Estimated Credit Losses (Tables

Estimated Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2020
Estimated Credit Losses [Abstract]
Schedule of reconciliation of the activity related to the Company’s allowance for estimated credit losses	The following table provides a reconciliation of the activity related to the Company’s allowance for estimated credit losses (in thousands): Three Months Ended 2020 2019 (in thousands) Beginning balance as of January 1 $ 5,992 $ 5,610 Adjustment due to the adoption of Topic 326 289 — Provision for credit losses 13 (123 ) Write-off of uncollectible amounts, net of recoveries (154 ) (13 ) Ending balance as of March 31 $ 6,140 $ 5,474

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation (in thousands): At January 4, 2019 Assets Acquired Cash $ 58,096 Accounts receivable 26,637 Inventories 94,504 Income tax receivable 6,588 Other current assets 11,483 Property and equipment 20,930 Operating lease right-of-use assets 120,865 Deferred tax assets 2,930 Other assets 23 Intangibles - trade name 239,295 Intangibles - retail partners & distributor relationships 38,743 Goodwill 150,180 Total assets acquired 770,274 Liabilities Assumed Accounts Payable and accrued liabilities 46,124 Income taxes payable, long-term 2,416 Operating lease liabilities 120,524 Deferred tax liabilities 80,009 Net assets acquired $ 521,201

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	As of March 31, 2020 , the Company does not anticipate excess cash flow repayments as defined by the Term Loan Facility. (in thousands) Remainder of 2020 $ 8,332 2021 11,297 2022 11,519 2023 9,107 2024 8,290 Thereafter 428,835 $ 477,380

Earnings (Loss) per Common Sh_2

Earnings (Loss) per Common Share (Tables)	3 Months Ended
	Mar. 31, 2020
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 2020 2019 Earnings per common share—basic Net income attributable to Callaway Golf Company $ 28,894 $ 48,647 Weighted-average common shares outstanding—basic 94,309 94,684 Basic earnings per common share $ 0.31 $ 0.51 Earnings per common share—diluted Net income attributable to Callaway Golf Company $ 28,894 $ 48,647 Weighted-average common shares outstanding—basic 94,309 94,684 Outstanding options, restricted stock units and performance share units 1,367 1,735 Weighted-average common shares outstanding—diluted 95,676 96,419 Diluted earnings per common share $ 0.30 $ 0.50

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories are summarized below (in thousands): March 31, December 31, 2019 Inventories: Raw materials $ 75,823 $ 76,140 Work-in-process 1,079 860 Finished goods 335,788 379,639 $ 412,690 $ 456,639

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
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, 2020 December 31, 2019 Gross (1) Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Indefinite-lived: Trade name, trademark, trade dress and other NA $ 450,015 $ — $ 450,015 $ 453,837 $ — $ 453,837 Amortizing: Patents 2-16 31,581 31,581 — 31,581 31,581 — Customer and distributor relationships and other 1-10 53,683 15,834 37,849 53,904 14,318 39,586 Total intangible assets $ 535,279 $ 47,415 $ 487,864 $ 539,322 $ 45,899 $ 493,423
Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets at March 31, 2020 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands): Remainder of 2020 $ 3,584 2021 4,724 2022 4,548 2023 4,409 2024 4,409 Thereafter 16,175 $ 37,849

Product Warranty (Tables)

Product Warranty (Tables)	3 Months Ended
	Mar. 31, 2020
Guarantees [Abstract]
Reconciliation of Reserve for Warranty Expense	The following table provides a reconciliation of the activity related to the Company’s reserve for warranty expense (in thousands): Three Months Ended 2020 2019 Beginning balance $ 9,636 $ 7,610 Provision 1,808 2,479 Provision liability assumed from acquisition — 2,327 Claims paid/costs incurred (1,653 ) (1,633 ) Ending balance $ 9,791 $ 10,783

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
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 (U.S.) 2008 and prior Germany 2014 and prior Japan 2013 and prior South Korea 2014 and prior United Kingdom 2015 and prior

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Future Purchase Commitments	The minimum obligation that the Company is required to pay as of March 31, 2020 under these agreements is $115,205,000 over the next four years as follows (in thousands): Remainder of 2020 $ 52,402 2021 29,681 2022 19,988 2023 10,335 2024 2,799 $ 115,205

Share-Based Employee Compensa_2

Share-Based Employee Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
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, 2020 and 2019 for share-based compensation, including expense for restricted stock units and performance share units (in thousands). Three Months Ended 2020 2019 Cost of sales $ 156 $ 249 Operating expenses 1,705 3,186 Total cost of share-based compensation included in income, before income tax $ 1,861 $ 3,435

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
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 17 ) that are measured at fair value on a recurring basis by the above pricing levels at March 31, 2020 and December 31, 2019 (in thousands): Fair Value Level 1 Level 2 Level 3 March 31, 2020 Foreign currency forward contracts—asset position $ 7,109 $ — $ 7,109 $ — Foreign currency forward contracts—liability position (1,888 ) — (1,888 ) — Interest rate hedge agreements—liability position (19,690 ) — (19,690 ) — $ (14,469 ) $ — $ (14,469 ) $ — December 31, 2019 Foreign currency forward contracts—asset position $ 61 $ — $ 61 $ — Foreign currency forward contracts—liability position (766 ) — (766 ) — Cross-currency debt swap agreements—asset position 6,163 — 6,163 — Cross-currency debt swap agreements—liability position (25 ) — (25 ) — Interest rate hedge agreements—asset position (8,894 ) — (8,894 ) — $ (3,461 ) $ — $ (3,461 ) $ —
Fair Value Relating to Financial Assets and Liabilities	The carrying values of cash and cash equivalents at March 31, 2020 and December 31, 2019 are categorized within Level 1 of the fair value hierarchy. The table below summarizes information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated condensed balance sheets as of March 31, 2020 and December 31, 2019 , as well as the fair value of contingent contracts that represent financial instruments (in thousands). March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility (1) $ 445,200 $ 411,810 $ 446,400 $ 450,864 Primary Asset-Based Revolving Credit Facility (2) $ 300,257 $ 300,257 $ 114,480 $ 114,480 Japan ABL Facility (2) $ 35,336 $ 35,336 $ 30,100 $ 30,100 Equipment notes (3) $ 28,283 $ 28,283 $ 19,715 $ 19,715 Standby letters of credit (4) $ 1,375 $ 1,375 $ 1,075 $ 1,075 (1) In January 2019, the Company entered into the Term Loan Facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. The fair value of the Term Loan Facility as of March 31, 2020 was affected by volatile market conditions resulting from to the COVID-19 pandemic. See Note 6 for further information. (2) The carrying value of the amounts outstanding under the Company's ABL Facility and Japan ABL Facility 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 based on the observable market borrowing rates. See Note 6 for information on the Company's credit facilities, including certain risks and uncertainties related thereto. (3) In December 2017, August 2019 and March 2020, the Company entered into equipment notes that are both secured by certain equipment at the Company's golf ball manufacturing facility. The fair value of this debt is categorized within Level 2 of the fair value hierarchy. See Note 6 for further information. (4) 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, using the exchange rates in effect at March 31, 2020 and December 31, 2019 . As such, 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, 2020
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 derivative instruments as well as the location of the asset and/or liability on the consolidated condensed balance sheets at March 31, 2020 and December 31, 2019 (in thousands): Balance Sheet Location Fair Value of Asset Derivatives March 31, 2020 December 31, 2019 Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Other current assets $ 1,395 $ 53 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 5,714 $ 8 Balance Sheet Location Fair Value of Liability Derivatives March 31, 2020 December 31, 2019 Derivatives designated as cash flow hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 129 $ 24 Cross-currency debt swap agreements Accounts payable and accrued expenses — 25 Interest rate hedge agreements Accounts payable and accrued expenses 4,402 1,865 Other long-term liabilities 15,288 7,030 Total $ 19,819 $ 8,944 Derivatives not designated as hedging instruments: Foreign currency forward contracts Accounts payable and accrued expenses $ 1,759 $ 741
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, 2020 and 2019 , respectively, in addition to the derivative contract type (in thousands): Location of Net Gain Recognized in Income on Derivative Instruments Amount of Net Gain/(Loss) Recognized in Income on Derivative Instruments Derivatives not designated as hedging instruments Three Months Ended 2020 2019 Foreign currency forward contracts Other expense, net $ 5,856 $ 750

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
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, 2020 . Amounts are in thousands. Derivative Instruments Foreign Currency Translation Total Accumulated other comprehensive loss, December 31, 2019, after tax $ (4,203 ) $ (18,219 ) $ (22,422 ) Change in derivative instruments 6,258 — 6,258 Net gains reclassified to cost of goods sold (233 ) — (233 ) Net gains reclassified to other income (expense) (5,735 ) — (5,735 ) Net gains reclassified to interest expense (879 ) — (879 ) Income tax benefit on derivative instruments 430 — 430 Foreign currency translation adjustments — (14,936 ) (14,936 ) Accumulated other comprehensive loss, March 31, 2020, after tax $ (4,362 ) $ (33,155 ) $ (37,517 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Operating Segments	The tables below contain information utilized by management to evaluate its operating segments for the interim periods presented (in thousands). Three Months Ended 2020 2019 (1) Net sales: Golf Equipment $ 291,661 $ 323,619 Apparel, Gear and Other 150,615 192,578 $ 442,276 $ 516,197 Income before income taxes: Golf Equipment $ 58,620 $ 70,652 Apparel, Gear and Other (3,799 ) 22,060 Reconciling items (2) (16,776 ) (34,655 ) $ 38,045 $ 58,057 Additions to long-lived assets: (3) Golf Equipment $ 16,962 $ 5,417 Apparel, Gear and Other 10,124 4,392 $ 27,086 $ 9,809 (1) The Company continues to refine its expense allocation methodology between operating segments. As a result, the Company reclassified certain information technology expenses between the segments in the first quarter of 2019 in order to conform with the current presentation. (2) Reconciling items represent the deduction of corporate general and administration expenses and other income (expenses), which are not utilized by management in determining segment profitability. The decrease in reconciling items for the three months ended March 31, 2020 compared to March 31, 2019 was primarily due to an increase of $8,325,000 in net gains recognized on hedging contracts combined with a decrease, primarily in employee costs and general and administrative expenses, in the first quarter of 2020. Additionally, during the first quarter of 2019, the reconciling items included non-recurring charges of $4,723,000 in the first quarter of 2019 related to the acquisition of Jack Wolfskin. See Note 6 for information on the Company's credit facilities and long-term debt obligations. (3) Additions to long-lived assets are comprised of purchases of property, plant and equipment.

Basis of Presentation Adoption

Basis of Presentation Adoption of New Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Adjustment due to the adoption of Topic 326	$ 289	$ 0
ASU 2016-13 (Topic 326)
Adjustment due to the adoption of Topic 326	$ 289

Leases - Supplemental Balance

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating leases
ROU assets, net	$ 193,829	$ 160,098
Lease liabilities, short-term	28,544	26,418
Lease liabilities, long-term	175,954	137,696
Finance Leases
ROU assets, net,	1,108	1,263
Lease liabilities, short-term	542	589
Lease liabilities, long-term	$ 509	$ 558

Leases - Components of Lease E

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease costs	$ 11,022	$ 8,897
Financing lease costs:
Amortization of right-of-use assets	167	257
Interest on lease liabilities	11	25
Total financing lease costs	178	282
Variable lease costs	1,296	1,340
Total lease costs	$ 12,496	$ 10,519

Leases - Other Information Rel

Leases - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Leases [Abstract]
Operating cash flows - operating leases	$ 9,331	$ 8,714
Operating cash flows from finance leases	11	25
Financing cash flows from finance leases	109	114
Lease liabilities arising from new ROU assets, Operating leases	51,851	3,059
Lease liabilities arising from new ROU assets, Finance leases	$ 22	$ 0
Weighted Average remaining lease term, Operating leases	10 years 1 month 6 days		6 years 7 months 6 days
Weighted Average remaining lease term, Finance leases	2 years 8 months 12 days		2 years 8 months 12 days
Weighted Average Discount Rate, Operating leases	5.40%		5.50%
Weighted Average Discount Rate, Finance leases	4.10%		4.50%

Leases - Future Minimum Lease

Leases - Future Minimum Lease Obligations (Details) $ in Thousands	Mar. 31, 2020USD ($)
Operating Leases
Remainder of 2020	$ 29,289
2020	34,284
2021	29,864
2022	26,016
2023	22,586
Thereafter	126,550
Total future lease payments	268,589
Less: imputed interest	64,091
Total	204,498
Finance Leases
Remainder of 2020	510
2020	245
2021	204
2022	94
2023	23
Thereafter	23
Total future lease payments	1,099
Less: imputed interest	48
Total	$ 1,051

Revenue Recognition - Disaggre

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 442,276	$ 516,197
Golf Equipment
Disaggregation of Revenue [Line Items]
Net sales	291,661	323,619
Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Net sales	150,615	192,578
Golf Clubs
Disaggregation of Revenue [Line Items]
Net sales	251,224	261,785
Golf Clubs | Golf Equipment
Disaggregation of Revenue [Line Items]
Net sales	251,224	261,785
Golf Clubs | Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Net sales	0	0
Golf Balls
Disaggregation of Revenue [Line Items]
Net sales	40,437	61,834
Golf Balls | Golf Equipment
Disaggregation of Revenue [Line Items]
Net sales	40,437	61,834
Golf Balls | Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Net sales	0	0
Apparel
Disaggregation of Revenue [Line Items]
Net sales	77,290	96,246
Apparel | Golf Equipment
Disaggregation of Revenue [Line Items]
Net sales	0	0
Apparel | Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Net sales	77,290	96,246
Gear, Accessories and Other
Disaggregation of Revenue [Line Items]
Net sales	73,325	96,332
Gear, Accessories and Other | Golf Equipment
Disaggregation of Revenue [Line Items]
Net sales	0	0
Gear, Accessories and Other | Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Net sales	73,325	96,332
Royalties
Disaggregation of Revenue [Line Items]
Net sales	5,545	4,678
United States
Disaggregation of Revenue [Line Items]
Net sales	217,503	249,001
Europe
Disaggregation of Revenue [Line Items]
Net sales	96,719	126,613
Japan
Disaggregation of Revenue [Line Items]
Net sales	77,347	73,228
Rest of World
Disaggregation of Revenue [Line Items]
Net sales	$ 50,707	$ 67,355

Revenue Recognition - Contract

Revenue Recognition - Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenue from gift cards, recognized in period	$ 525	$ 389
Unredeemed gift cards
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue from gift cards	$ 1,990		$ 2,190

Estimated Credit Losses (Detail

Estimated Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 5,992	$ 5,610
Adjustment due to the adoption of Topic 326	289	0
Provision for credit losses	13	(123)
Write-off of uncollectible amounts, net of recoveries	(154)	(13)
Ending Balance	$ 6,140	$ 5,474

Business Combinations (Details)

Business Combinations (Details) € in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Jan. 31, 2019EUR (€)	Jan. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Jan. 04, 2019EUR (€)	Jan. 04, 2019USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net					$ 77,079,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Valuation Allowance					8,281,000
Operating lease right-of-use assets			$ 193,829,000		160,098,000
Goodwill			200,787,000		203,743,000
Operating lease liabilities			204,498,000
Jack Wolfskin
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	€ 457,394	$ 521,201,000
Cash Acquired						€ 50,984,000	$ 58,096,000
Business Combination, Acquisition Related Costs					$ 9,987,000
Gain (loss) recorded upon settlement of foreign currency forward contract				$ (3,215,000)
Accounts receivable							26,637,000
Inventories							94,504,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Income Tax Receivables							6,588,000
Other current assets							11,483,000
Property and equipment							20,930,000
Operating lease right-of-use assets							120,865,000
Deferred tax assets							2,930,000
Other assets							23,000
Goodwill			150,180,000
Total assets acquired							770,274,000
Accounts Payable and accrued liabilities							46,124,000
Income taxes payable, long-term							2,416,000
Operating lease liabilities							120,524,000
Deferred tax liabilities							80,009,000
Net assets acquired							521,201,000
Jack Wolfskin | General and Administrative Expense
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs			$ 0	$ 4,723,000
Customer Relationships
Business Acquisition [Line Items]
Useful Life (years)	10 years	10 years
Franchisee & Distributor Relationships | Jack Wolfskin
Business Acquisition [Line Items]
Intangibles - retail partners & distributor relationships							38,743,000
Trade Names | Jack Wolfskin
Business Acquisition [Line Items]
Intangibles - trade name							$ 239,295,000
Royalty Rate | Royalty Savings Income Approach Method | Jack Wolfskin
Business Acquisition [Line Items]
Business Combination, Assumed Indefinite Lived Intangible Assets, Measurement Input						0.050	0.050
Discount Rate | Royalty Savings Income Approach Method | Jack Wolfskin
Business Acquisition [Line Items]
Business Combination, Assumed Indefinite Lived Intangible Assets, Measurement Input						0.100	0.100
Term Loan Facility | Secured Debt
Business Acquisition [Line Items]
Debt Instrument, Face Amount		$ 480,000,000

Financing Arrangements (Asset B

Financing Arrangements (Asset Based Revolving Credit Facility) - Additional Information (Detail)	1 Months Ended		3 Months Ended
	May 31, 2020USD ($)	Jan. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	May 04, 2020USD ($)$ / shares	Mar. 31, 2020JPY (¥)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Asset-based credit facilities							$ 335,593,000	$ 144,580,000		$ 214,482,000
Cash and cash equivalents							166,635,000	106,666,000		78,939,000	$ 63,981,000
Total available liquidity							259,428,000			223,402,000
Asset-based credit facility, maximum borrowing capacity							400,000,000
Equipment note, short-term							8,734,000	7,317,000
Equipment note, long-term							453,774,000	443,259,000
Long-term Debt, Gross							477,380,000
Interest income			$ 99,000	$ 189,000
United States
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity							260,000,000
Germany
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity							70,000,000
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]
Amount outstanding under letters of credit							$ 1,375,000			$ 1,228,000
Average outstanding borrowing			204,236,000
Average available liquidity			$ 114,012,000
Asset-based credit facility, maturity date			May 31, 2024
Debt covenants , dividend restrictions			In addition, the ABL Facility imposes restrictions on the amount the Company could pay in annual cash dividends, including certain restrictions on the amount of additional indebtedness and requirements to maintain a certain fixed charge coverage ratio under certain circumstances.
Debt Covenant, Borrowing Base Below Threshold, Period Ratio Required to be in Compliance			30 days
Fixed Charge Coverage Ratio Covenant Reference Borrowing Capacity, Percent			10.00%
Fixed Charge Coverage Ratio Covenant Reference Borrowing Capacity			$ 40,000,000
Asset-based credit facility, interest rate						4.36%	4.36%
Asset-based credit facility, Monthly fees on unused portion			0.25%
Asset-based credit facility, origination fees							$ 3,315,000
Unamortized origination fees							1,945,000	2,115,000
Bank of America, N.A. | Other Current Assets
Debt Instrument [Line Items]
Asset-based credit facility, origination fees included in other current assets							753,000	746,000
Bank of America, N.A. | Other Assets
Debt Instrument [Line Items]
Asset-based credit facility, origination fees included in other long-term assets							1,192,000	1,369,000
Stretch Term Loan Facility [Member]
Debt Instrument [Line Items]
Asset-based credit facility, maximum borrowing capacity							30,000,000
Japan Credit Facility, 1 | The Bank Of Tokyo-Mitsubishi UFJ
Debt Instrument [Line Items]
Asset-based credit facilities						¥ 3,800,000,000	35,336,000
Asset-based credit facility, maximum borrowing capacity						¥ 4,000,000,000	$ 37,196,000
Applicable margin rate reduction			subject to an effective interest rate equal to the Tokyo interbank offered rate plus 0.80%
Asset-based credit facility, interest rate						0.87%	0.87%
Debt instrument term			3 years
Japan Credit Facility, 1 | The Bank Of Tokyo-Mitsubishi UFJ | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt			0.80%
Japan Credit Facility 2 | The Bank Of Tokyo-Mitsubishi UFJ | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Applicable margin rate reduction			subject to an effective interest rate equal to the Tokyo Interbank Offered Rate (TIBOR) plus 1.0%
Basis spread on variable rate on debt			1.00%
Japan Credit Facility 2 | The Bank of Tokyo-Mitsubishi UFG Ltd
Debt Instrument [Line Items]
Asset-based credit facilities | ¥						¥ 0
Asset-based credit facility, maximum borrowing capacity						¥ 2,000,000,000	$ 18,598,000
Asset-based credit facility, interest rate						1.07%	1.07%
Debt instrument term			1 year
Intellectual Property
Debt Instrument [Line Items]
Line Of Credit, Maximum Borrowing Capacity, Quarterly Reduction Period			3 years
Real Estate
Debt Instrument [Line Items]
Line Of Credit, Maximum Borrowing Capacity, Quarterly Reduction Period			15 years
Secured Debt
Debt Instrument [Line Items]
Interest income				3,714,000
Secured Debt | 2017 Equipment Note
Debt Instrument [Line Items]
Asset-based credit facility, interest rate						3.79%	3.79%
Long-term Debt							$ 6,775,000	7,357,000
Equipment note, short-term							$ 2,467,000	2,455,000
Equipment note, long-term								4,902,000	$ 4,308,000
Note amortization period			5 years
Interest Expense, Debt			$ 68,000
Secured Debt | 2019 Equipment Note
Debt Instrument [Line Items]
Asset-based credit facility, interest rate						3.21%	3.21%
Long-term Debt							$ 11,742,000	12,358,000
Equipment note, short-term							2,662,000	2,652,000
Equipment note, long-term							$ 9,080,000	9,706,000
Note amortization period			5 years
Interest Expense, Debt			$ 97,000
Secured Debt | 2020 Equipment Note
Debt Instrument [Line Items]
Asset-based credit facility, interest rate						2.36%	2.36%
Long-term Debt							$ 9,766,000
Equipment note, short-term							1,395,000
Equipment note, long-term							8,371,000
Note amortization period			7 years
Interest Expense, Debt			$ 0
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt							445,200,000	$ 446,400,000
Debt Issuance Costs, Net							14,891,000
Equipment note, short-term							4,800,000
Interest Expense, Debt			7,413,000	8,780,000
Debt Instrument, Face Amount		$ 480,000,000
Debt Issuance Costs, Gross		9,600,000
Long Term Debt, Maximum Additional Loan Commitments, Amounts		$ 225,000,000
Line Of Credit Facility Covenant Terms, First Lien Net Leverage Ratio For Unlimited Commitment		2.25
Debt Instrument, Periodic Payment, Principal			1,200,000
Interest income			$ 1,313,000	$ 1,018,000
Secured Debt | Term Loan Facility, Short-Term Portion
Debt Instrument [Line Items]
Debt Issuance Costs, Net							2,590,000
Secured Debt | Term Loan Facility, Long-Term Portion
Debt Instrument [Line Items]
Debt Issuance Costs, Net							$ 12,301,000
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt		4.50%
Maximum | Secured Debt | Term Loan Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt			4.50%
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt		4.60%
Minimum | Secured Debt | Term Loan Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate on debt			3.50%
Interest Rate Swap
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,357,000
Currency Swap
Debt Instrument [Line Items]
Hedging Liabilities, Noncurrent		$ 176,200,000
Subsequent Event
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					2.75%
Convertible Debt					$ 258,750,000
Debt Instrument, Capped Call Transaction Cap Price, Per Share | $ / shares					$ 27.10
Debt Instrument, Payment For Capped Call Transactions	$ 31,800,000

Financing Arrangements - Aggre

Financing Arrangements - Aggregate Amount of Maturities for Debt (Details) $ in Thousands	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
Remainder of 2020	$ 8,332
2021	11,297
2022	11,519
2023	9,107
2024	8,290
Thereafter	428,835
Long-term Debt, Gross	$ 477,380

Earnings (Loss) per Common Sh_3

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, 2020	Mar. 31, 2019
Earnings per common share—basic
Net income attributable to Callaway Golf Company	$ 28,894	$ 48,647
Weighted-average common shares outstanding—basic (in shares)	94,309	94,684
Basic earnings per common share (usd per share)	$ 0.31	$ 0.51
Earnings per common share—diluted
Weighted-average common shares outstanding—basic (in shares)	94,309	94,684
Options and restricted stock (in shares)	1,367	1,735
Weighted-average common shares outstanding—diluted (in shares)	95,676	96,419
Dilutive earnings (loss) per common share (usd per share)	$ 0.30	$ 0.50

Earnings (Loss) per Common Sh_4

Earnings (Loss) per Common Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventories:
Raw materials	$ 75,823	$ 76,140
Work-in-process	1,079	860
Finished goods	335,788	379,639
Inventories	$ 412,690	$ 456,639

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 200,787,000		$ 203,743,000
Goodwill, Foreign Currency Translation Gain (Loss)	(2,956,000)
Goodwill and Intangible Asset Impairment	0
Amortization of Intangible Assets	1,180,000	$ 1,220,000
Jack Wolfskin
Goodwill [Line Items]
Goodwill	$ 150,180,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets by Major Asset Class (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Intangible Assets By Major Class [Line Items]
Gross	$ 535,279,000	$ 539,322,000
Accumulated Amortization	47,415,000	45,899,000
Net Book Value	487,864,000	493,423,000
Finite-Lived Intangible Assets, Translation and Purchase Accounting Adjustments	3,822,000
Indefinite-lived Intangible Assets, Translation and Purchase Accounting Adjustments	557,000
Patents
Intangible Assets By Major Class [Line Items]
Gross	31,581,000	31,581,000
Accumulated Amortization	31,581,000	31,581,000
Net Book Value	$ 0	0
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
Other Intangible Assets
Intangible Assets By Major Class [Line Items]
Gross	$ 53,683,000	53,904,000
Accumulated Amortization	15,834,000	14,318,000
Net Book Value	$ 37,849,000	39,586,000
Other Intangible Assets | Minimum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	1 year
Other Intangible Assets | Maximum
Intangible Assets By Major Class [Line Items]
Useful Life (years)	10 years
Trade name, trademark and trade dress and other
Intangible Assets By Major Class [Line Items]
Gross	$ 450,015,000	453,837,000
Net Book Value	$ 450,015,000	$ 453,837,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 1,180	$ 1,220
Amortization expense related to intangible assets:
Remainder of 2019	3,584
2020	4,724
2021	4,548
2022	4,409
2023	4,409
Thereafter	16,175
Total	$ 37,849

Joint Venture (Details)

Joint Venture (Details) $ in Thousands, ¥ in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019JPY (¥)	Dec. 31, 2019USD ($)	Jul. 01, 2016USD ($)
Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests	$ 0	$ (146)
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
Accounts payable and accrued expenses | Callaway Apparel K.K.
Noncontrolling Interest [Line Items]
Payments to Acquire Interest in Joint Venture			¥ 2	$ 18,538
Callaway Apparel K.K. | Callaway Apparel K.K.
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent					52.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners					48.00%

Investments (Detail)

Investments (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract]
Percentage of ownership interest in Topgolf	14.00%
Investments in golf related ventures	$ 0
Investment in Topgolf	$ 90,134,000	$ 90,134,000

Product Warranty - Reconciliati

Product Warranty - Reconciliation of Reserve for Warranty Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Guarantees [Abstract]
Warranty policy term	2 years
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 9,636	$ 7,610
Provision	1,808	2,479
Provision liability assumed from acquisition	0	2,327
Claims paid/costs incurred	(1,653)	(1,633)
Ending balance	$ 9,791	$ 10,783

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) € in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Jan. 31, 2019EUR (€)	Jan. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Jan. 04, 2019EUR (€)	Jan. 04, 2019USD ($)
Business Acquisition [Line Items]
Income tax provision			$ 9,151	$ 9,556
Effective tax rate			24.10%	16.50%
Liability for income taxes associated with uncertain tax positions			$ 26,380
Net amount of unrecognized tax benefit related to uncertain tax positions that would impact, if recognized, effective income tax rate			11,129
Unrecognized tax benefit liabilities decrease			449
Increase in gross liability for uncertain tax positions			387
Provision expense (benefit) for income taxes related to interest and penalties			29	$ 32
Income tax accrued for payment of interest and penalties			$ 1,698		$ 1,669
Jack Wolfskin
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	€ 457,394	$ 521,201
Cash Acquired						€ 50,984,000	$ 58,096
Deferred Tax Liabilities							80,009
Deferred Tax Assets, Other							11,384
Finite-Lived Intangible Assets | Jack Wolfskin
Business Acquisition [Line Items]
Deferred Tax Liabilities							$ 88,392

Income Taxes - Major Jurisdicti

Income Taxes - Major Jurisdictions No Longer Subject to Audit (Details)	3 Months Ended
	Mar. 31, 2020
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	2014 and prior
Japan
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2013 and prior
South Korea
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2014 and prior
United Kingdom
Income Tax Examination [Line Items]
Years No Longer Subject to Audit	2015 and prior

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Jun. 30, 2018
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	4 years
Unconditional purchase obligations	$ 115,205,000
Bank of America, N.A.
Long Term Purchase Commitment [Line Items]
Amount outstanding under letters of credit	$ 1,375,000	$ 1,228,000
Minimum
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	1 year
Maximum
Long Term Purchase Commitment [Line Items]
Unconditional purchase obligations, term	4 years

Commitments and Contingencies_2

Commitments and Contingencies - Future Purchase Commitments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2020	$ 52,402
2021	29,681
2022	19,988
2023	10,335
2024	2,799
Unconditional purchase obligations	$ 115,205

Share-Based Employee Compensa_3

Share-Based Employee Compensation - Amounts Recognized for Share-Based Compensation (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
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	$ 1,861	$ 3,435
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	156	249
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	$ 1,705	$ 3,186
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of stock units granted (in shares)	125	226
Cost of employee share-based compensation included in income, before income tax	$ 245	$ 1,636
Performance Share Units with Total Shareholder Return Conditions
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of stock units granted (in shares)	125	149

Share-Based Employee Compensa_4

Share-Based Employee Compensation - Additional Information (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)plan$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2019	Dec. 31, 2018
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	$ 1,861	$ 3,435
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock units granted (in shares) | shares	268	400
Total unrecognized compensation expense related to non-vested shares granted	$ 12,132
Number of years compensation expense to be recognized over	2 years 2 months 12 days
Stock units, weighted average grant-date fair value (usd per share) | $ / shares	$ 19.67	$ 15.17
Compensation expense related to restricted stocks	$ 1,615	$ 1,799
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]
Number of stock units granted (in shares) | shares	125	226
Total unrecognized compensation expense related to non-vested shares granted	$ 7,732
Number of years compensation expense to be recognized over		2 years
Stock units, weighted average grant-date fair value (usd per share) | $ / shares	$ 19.66	$ 15.17
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Shares, Percent				80.00%
Cost (reversal) of employee share-based compensation included in income, before income tax	$ 245	$ 1,636
Performance Shares | Minimum
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
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Shares, Percent	50.00%		50.00%
Shares awarded as a percentage of granted	0.00%
Award requisite service period	1 year
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Shares, Percent	80.00%
Shares awarded as a percentage of granted	200.00%
Award requisite service period	5 years
Performance Share Units with Total Shareholder Return Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock units granted (in shares) | shares	125	149
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Stock units, weighted average grant-date fair value (usd per share) | $ / shares	$ 23.22	$ 16.96

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Foreign Currency Exchange Contracts Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts, net	$ (14,469)	$ (3,461)
Foreign Exchange Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position	7,109	61
Foreign currency forward contracts—liability position	(1,888)	(766)
Currency Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position		6,163
Foreign currency forward contracts—liability position		(25)
Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—liability position	(19,690)	(8,894)
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts, net	(14,469)	(3,461)
Level 2 | Foreign Exchange Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position	7,109	61
Foreign currency forward contracts—liability position	(1,888)	(766)
Level 2 | Currency Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—asset position		6,163
Foreign currency forward contracts—liability position		(25)
Level 2 | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forward contracts—liability position	$ (19,690)	$ (8,894)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value Relating to Financial Assets and Liabilities (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2018
Secured Debt | Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	$ 445,200,000	$ 446,400,000
Bank of America, N.A.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding under letters of credit	1,375,000		$ 1,228,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding under letters of credit		1,075,000
Carrying Value | Secured Debt | Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	445,200,000	446,400,000
Carrying Value | Secured Debt | Equipment Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	28,283,000	19,715,000
Carrying Value | ABL Facility | Bank of America, N.A.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	300,257,000	114,480,000
Carrying Value | Japan ABL Facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	35,336,000	30,100,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding under letters of credit	1,375,000	1,075,000
Fair Value | Secured Debt | Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	411,810,000	450,864,000
Fair Value | Secured Debt | Equipment Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	28,283,000	19,715,000
Fair Value | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	300,257,000	114,480,000
Fair Value | Japan ABL Facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	$ 35,336,000	$ 30,100,000

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, 2020	Dec. 31, 2019
Not Designated as Hedging Instrument | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	$ 5,714	$ 8
Not Designated as Hedging Instrument | Foreign Exchange Forward | Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	1,759	741
Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	19,819	8,944
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	1,395	53
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward | Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	129	24
Cash Flow Hedging | Designated as Hedging Instrument | Currency Swap | Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	25
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap | Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	4,402	1,865
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	$ 15,288	$ 7,030

Derivatives and Hedging - Addit

Derivatives and Hedging - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jan. 31, 2019
Derivative [Line Items]
Minimum Length of Time, Foreign Currency Cash Flow Hedge	12 months
Maximum maturity for foreign currency cash flow hedge	15 months
Maximum maturity for foreign currency derivatives	12 months
Forward points amortized on derivatives	$ 232,000
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	6,258,000
Foreign currency gains (losses)	(5,147,000)	$ (5,338,000)
Foreign Exchange Forward
Derivative [Line Items]
Forward points amortized on derivatives	0
Foreign Exchange Forward | Cost Of Goods Sold
Derivative [Line Items]
Gain Reclassified from AOCI into COGS	(1,000)
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion		178,000
Currency Swap
Derivative [Line Items]
Gain Reclassified from AOCI into COGS	7,048,000
Currency Swap | Other Income [Member]
Derivative [Line Items]
Gain Reclassified from AOCI into COGS	5,735,000
Interest Rate Swap | Other Income [Member]
Derivative [Line Items]
Gain Reclassified from AOCI into COGS	(434,000)	(10,000)
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Derivative Instrument, Notional Amount	75,968,000		$ 0
Designated as Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	2,178,000
Designated as Hedging Instrument | Currency and Interest Rate Swap Agreements
Derivative [Line Items]
Derivative Instrument, Notional Amount	197,853,000		198,353,000
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Derivative Instrument, Notional Amount	193,617,000		$ 72,119,000
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax		676,000
Gain Reclassified from AOCI into COGS	6,847,000	3,850,000
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	2,410,000	546,000
Gain Reclassified from AOCI into COGS	233,000	146,000
Cash Flow Hedging | Designated as Hedging Instrument | Currency Swap
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	15,081,000	4,071,000
Gain Reclassified from AOCI into COGS	7,048,000	3,714,000
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(11,233,000)	(3,941,000)
Gain Reclassified from AOCI into COGS	(434,000)	$ (10,000)
Secured Debt | Term Loan Facility
Derivative [Line Items]
Debt Instrument, Face Amount				$ 480,000,000
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 6,258,000

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 ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 6,258,000
Interest income	99,000	$ 189,000
Other (expense) income, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Net Gain (Loss) Recognized in Income on Derivative Instruments	5,856,000	750,000
Foreign Exchange Forward | Cost Of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain Reclassified from AOCI into COGS	(1,000)
Currency Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain Reclassified from AOCI into COGS	7,048,000
Currency Swap | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain Reclassified from AOCI into COGS	5,735,000
Interest Rate Swap | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain Reclassified from AOCI into COGS	(434,000)	(10,000)
Designated as Hedging Instrument | Currency and Interest Rate Swap Agreements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instrument, Notional Amount	197,853,000		$ 198,353,000
Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax		676,000
Gain Reclassified from AOCI into COGS	6,847,000	3,850,000
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Forward
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	2,410,000	546,000
Gain Reclassified from AOCI into COGS	233,000	146,000
Designated as Hedging Instrument | Cash Flow Hedging | Currency Swap
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	15,081,000	4,071,000
Gain Reclassified from AOCI into COGS	7,048,000	3,714,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(11,233,000)	(3,941,000)
Gain Reclassified from AOCI into COGS	(434,000)	(10,000)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	4,410,000
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	6,258,000
Secured Debt
Derivative Instruments, Gain (Loss) [Line Items]
Interest income		3,714,000
Secured Debt | Term Loan Facility
Derivative Instruments, Gain (Loss) [Line Items]
Interest income	$ 1,313,000	$ 1,018,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Additional (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 6,258
Income tax benefit (provision) on derivative instruments	430	$ (428)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	(14,936)
Accumulated other comprehensive loss, ending balance	(37,517)		$ (22,422)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	6,258
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	0
Accumulated other comprehensive loss, ending balance	(4,362)		(4,203)
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0
Income tax benefit (provision) on derivative instruments	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	(14,936)
Accumulated other comprehensive loss, ending balance	(33,155)		$ (18,219)
Cost Of Goods Sold | Foreign Exchange Forward
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(233)
Cost Of Goods Sold | Foreign Exchange Forward | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(233)
Cost Of Goods Sold | Foreign Exchange Forward | Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	0
Other (expense) income, net | Foreign Exchange Forward
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(5,735)
Other (expense) income, net | Foreign Exchange Forward | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(5,735)
Other (expense) income, net | Foreign Exchange Forward | Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	0
Interest Expense | Foreign Exchange Forward
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(879)
Interest Expense | Foreign Exchange Forward | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(879)
Interest Expense | Foreign Exchange Forward | Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ 0

Segment Information - Informati

Segment Information - Information Utilized by Management to Evaluate its Operating Segments (Details)	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Net sales	$ 442,276,000	$ 516,197,000
Income before income taxes	38,045,000	58,057,000
Additions to long-lived assets	27,086,000	9,809,000
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Income before income taxes	(16,776,000)	(34,655,000)
Foreign Currency Transaction and Translation Gain (Loss), before Tax, Total	8,325,000
Jack Wolfskin | General and Administrative Expense | Acquisition-related Costs
Segment Reporting Information [Line Items]
Income before income taxes		(4,723,000)
Golf Equipment
Segment Reporting Information [Line Items]
Net sales	291,661,000	323,619,000
Golf Equipment | Operating segments
Segment Reporting Information [Line Items]
Net sales	291,661,000	323,619,000
Income before income taxes	58,620,000	70,652,000
Additions to long-lived assets	16,962,000	5,417,000
Apparel, Gear and Other
Segment Reporting Information [Line Items]
Net sales	150,615,000	192,578,000
Apparel, Gear and Other | Operating segments
Segment Reporting Information [Line Items]
Net sales	150,615,000	192,578,000
Income before income taxes	(3,799,000)	22,060,000
Additions to long-lived assets	$ 10,124,000	$ 4,392,000