0000837465-26-000022 | 10-Q | XBRL Viewer

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Selected Financial Data - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Inventory Disclosure [Abstract]
Income (loss) from operations	$ 9.3	$ 11.0	$ 19.9	$ 22.5

Discontinued Operations - Schedule of the Results of Discontinued Operations on the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets of discontinued operations
Total current assets of discontinued operations	$ 0.0	$ 4,170.0
Current liabilities of discontinued operations
Total current liabilities of discontinued operations	$ 0.0	3,113.5
Disposed of by Sale \| Topgolf
Current assets of discontinued operations
Accounts receivable		4.2
Inventories		37.1
Other current assets		117.2
Total current assets of discontinued operations		158.5
Long-term assets of discontinued operations
Property, plant and equipment, net		2,072.5
Operating lease right-of-use assets, net		1,066.4
Trade names and trademarks		607.9
Other intangible assets, net		46.5
Other assets, net		218.2
Total long-term assets of discontinued operations		4,011.5
Total assets of discontinued operations		4,170.0
Current liabilities of discontinued operations
Accounts payable and accrued expenses		117.2
Accrued employee compensation and benefits		56.1
Operating lease liabilities, short-term		59.8
Construction advances		29.1
Deferred revenue		59.7
Other current liabilities		3.1
Total current liabilities of discontinued operations		325.0
Long-term liabilities of discontinued operations
Long-term debt, net		42.8
Operating lease liabilities, long-term		1,102.5
Deemed landlord financing obligations		1,300.7
Other long-term liabilities		342.5
Total long-term liabilities of discontinued operations		2,788.5
Total liabilities of discontinued operations		$ 3,113.5

The Company and Basis of Presentation	6 Months Ended
The Company and Basis of Presentation	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation The Company Callaway Golf Company (together with its wholly-owned subsidiaries, referred to as “we,” “our,” “us,” “the Company,” or “Callaway” unless otherwise specified), a Delaware corporation, is a premium golf equipment, gear and apparel company that designs, manufactures and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories through our family of brand names, which include Callaway Golf, Odyssey, TravisMathew, and OGIO. Our products and brands are reported under two operating segments: Golf Equipment, which includes the operations of our golf clubs and golf balls business under the Callaway Golf and Odyssey brand names; and Apparel, Gear and Other (formerly, “Active Lifestyle”), which includes the operations of our soft goods business marketed under the Callaway, TravisMathew, and OGIO brand names. Basis of Presentation We have prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America (“GAAP”). We have condensed or omitted certain information and disclosures that are normally included in our annual consolidated financial statements which are prepared in accordance with GAAP. In the opinion of management, these condensed consolidated financial statements include all 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. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on February 27, 2026. Interim operating results are not indicative of operating results that may be expected for the year ending December 31, 2026, or any other future periods. We translate the financial statements of our foreign subsidiaries using end-of-period exchange rates for assets and liabilities and average exchange rates during each reporting period for results of operations. All intercompany balances and transactions have been eliminated during consolidation. Unless otherwise specified, disclosures in these condensed consolidated financial statements reflect continuing operations only. Prior period financial information related to discontinued operations has been reclassified and separately presented in the condensed consolidated financial statements and accompanying notes to conform to the current period presentation. See Note 3 for further information regarding our discontinued operations. Fiscal Year End Our annual financial results are reported on a calendar year basis.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2024		186.2
Balance at beginning of period at Dec. 31, 2024	$ 2,407.7	$ 1.9	$ 3,032.8	$ (500.2)	$ (76.0)	$ (50.8)
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2024						(3.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of treasury stock (in shares)						(0.5)
Acquisition of treasury stock	(3.3)					$ (3.3)
Compensatory awards released from restriction (in shares)						1.1
Compensatory awards released from restriction	0.0		(17.7)			$ 17.7
Share-based compensation	7.0		7.0
Equity adjustment from foreign currency translation	18.2				18.2
Change in fair value of derivative instruments, net of tax	(5.1)				(5.1)
Net income (loss)	2.1			2.1
Balance at end of period (in shares) at Mar. 31, 2025		186.2
Balance at end of period at Mar. 31, 2025	2,426.6	$ 1.9	3,022.1	(498.1)	(62.9)	$ (36.4)
Treasury stock, balance at end of period (in shares) at Mar. 31, 2025						(2.5)
Balance at beginning of period (in shares) at Dec. 31, 2024		186.2
Balance at beginning of period at Dec. 31, 2024	2,407.7	$ 1.9	3,032.8	(500.2)	(76.0)	$ (50.8)
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2024						(3.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative translation adjustments recognized from the sale of Topgolf/Impact from dissolution of foreign subsidiaries	13.8
Net income (loss)	22.4
Balance at end of period (in shares) at Jun. 30, 2025		186.2
Balance at end of period at Jun. 30, 2025	2,488.1	$ 1.9	3,027.3	(477.8)	(28.7)	$ (34.6)
Treasury stock, balance at end of period (in shares) at Jun. 30, 2025						(2.3)
Balance at beginning of period (in shares) at Mar. 31, 2025		186.2
Balance at beginning of period at Mar. 31, 2025	2,426.6	$ 1.9	3,022.1	(498.1)	(62.9)	$ (36.4)
Treasury stock, balance at beginning of period (in shares) at Mar. 31, 2025						(2.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensatory awards released from restriction (in shares)						0.2
Compensatory awards released from restriction	0.0		(1.8)			$ 1.8
Share-based compensation	7.0		7.0
Equity adjustment from foreign currency translation	27.2				27.2
Change in fair value of derivative instruments, net of tax	(6.8)				(6.8)
Cumulative translation adjustments recognized from the sale of Topgolf/Impact from dissolution of foreign subsidiaries	13.8				13.8
Net income (loss)	20.3			20.3
Balance at end of period (in shares) at Jun. 30, 2025		186.2
Balance at end of period at Jun. 30, 2025	2,488.1	$ 1.9	3,027.3	(477.8)	(28.7)	$ (34.6)
Treasury stock, balance at end of period (in shares) at Jun. 30, 2025						(2.3)
Balance at beginning of period (in shares) at Dec. 31, 2025		186.2
Balance at beginning of period at Dec. 31, 2025	$ 2,068.9	$ 1.9	3,037.5	(909.5)	(27.6)	$ (33.4)
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2025	(2.3)					(2.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of treasury stock (in shares)						(3.1)
Acquisition of treasury stock	$ (42.0)					$ (42.0)
Compensatory awards released from restriction (in shares)						1.0
Compensatory awards released from restriction	0.0		(14.5)			$ 14.5
Share-based compensation	6.4		6.4
Capital contribution to equity method investments	3.6		3.6
Equity adjustment from foreign currency translation	(3.1)				(3.1)
Change in fair value of derivative instruments, net of tax	0.6				0.6
Cumulative translation adjustments recognized from the sale of Topgolf/Impact from dissolution of foreign subsidiaries	(3.6)				(3.6)
Net income (loss)	93.1			93.1
Balance at end of period (in shares) at Mar. 31, 2026		186.2
Balance at end of period at Mar. 31, 2026	2,123.9	$ 1.9	3,033.0	(816.4)	(33.7)	$ (60.9)
Treasury stock, balance at end of period (in shares) at Mar. 31, 2026						(4.4)
Balance at beginning of period (in shares) at Dec. 31, 2025		186.2
Balance at beginning of period at Dec. 31, 2025	$ 2,068.9	$ 1.9	3,037.5	(909.5)	(27.6)	$ (33.4)
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2025	(2.3)					(2.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative translation adjustments recognized from the sale of Topgolf/Impact from dissolution of foreign subsidiaries	$ (3.6)
Net income (loss)	168.3
Balance at end of period (in shares) at Jun. 30, 2026		186.2
Balance at end of period at Jun. 30, 2026	$ 2,162.4	$ 1.9	3,036.8	(741.2)	(34.2)	$ (100.9)
Treasury stock, balance at end of period (in shares) at Jun. 30, 2026	(7.1)					(7.1)
Balance at beginning of period (in shares) at Mar. 31, 2026		186.2
Balance at beginning of period at Mar. 31, 2026	$ 2,123.9	$ 1.9	3,033.0	(816.4)	(33.7)	$ (60.9)
Treasury stock, balance at beginning of period (in shares) at Mar. 31, 2026						(4.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of treasury stock (in shares)						(2.8)
Acquisition of treasury stock	(42.5)					$ (42.5)
Compensatory awards released from restriction (in shares)						0.1
Compensatory awards released from restriction	0.0		(2.5)			$ 2.5
Share-based compensation	6.0		6.0
Capital contribution to equity method investments	0.3		0.3
Equity adjustment from foreign currency translation	(1.7)				(1.7)
Change in fair value of derivative instruments, net of tax	1.2				1.2
Cumulative translation adjustments recognized from the sale of Topgolf/Impact from dissolution of foreign subsidiaries	0.0
Net income (loss)	75.2			75.2
Balance at end of period (in shares) at Jun. 30, 2026		186.2
Balance at end of period at Jun. 30, 2026	$ 2,162.4	$ 1.9	$ 3,036.8	$ (741.2)	$ (34.2)	$ (100.9)
Treasury stock, balance at end of period (in shares) at Jun. 30, 2026	(7.1)					(7.1)

Derivatives and Hedging - Schedule of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	$ 6.0	$ 0.7
Fair Value of Liability Derivatives	0.7	0.8
Not Designated as Hedging Instrument \| Foreign currency forward contracts \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Derivatives, Fair Value [Line Items]
Fair Value of Liability Derivatives	0.5	0.4
Not Designated as Hedging Instrument \| Foreign currency forward contracts \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsCurrent
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	3.2	0.3
Cash Flow Hedging \| Designated as Hedging Instrument \| Foreign currency forward contracts \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Derivatives, Fair Value [Line Items]
Fair Value of Liability Derivatives	0.2	0.4
Cash Flow Hedging \| Designated as Hedging Instrument \| Foreign currency forward contracts \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsCurrent
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	$ 2.8	$ 0.4

- Definition

Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and elected not to be offset.

+ References + Details

- Definition

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and elected not to be offset.

+ References + Details

Financing Arrangements - Schedule of Aggregate Amount of Maturities for Debt (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2026	$ 2.4
2027	2.2
2028	0.3
2029	0.4
2030	0.4
Thereafter	2.0
Total aggregate amount of maturities	$ 7.7	$ 1,434.0

Investments - Narrative (Details) - USD ($) $ in Millions			1 Months Ended	3 Months Ended				6 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Jul. 06, 2026	Jan. 01, 2026	Apr. 30, 2026	Sep. 30, 2026	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]
Equity method investments					$ 213.9			$ 213.9		$ 0.0
Income (loss) from equity method investments					(1.0)		$ 0.0	(28.7)	$ 0.0
Distributions received in cash								5.6	0.0
Net sales					612.2		$ 600.4	1,299.7	1,230.0
Accounts receivable					315.7			315.7		123.2
Proceeds from sale of business line, net of cash retained								820.1	$ 286.0
Other investments					5.2			5.2		4.4
Topgolf
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 248.5			213.9			213.9
Equity distribution					6.5
Distributions received in cash					5.6
Net sales					2.1			5.3
Accounts receivable					1.6			1.6
Full Swing Golf Holdings, Inc.
Schedule of Equity Method Investments [Line Items]
Equity securities, noncurrent					$ 9.3			$ 9.3		9.3
Full Swing Golf Holdings, Inc. \| Topgolf International, Inc
Schedule of Equity Method Investments [Line Items]
Equity ownership, percentage					20.00%			20.00%
Five Iron Golf
Schedule of Equity Method Investments [Line Items]
Equity securities, noncurrent					$ 38.5			$ 38.5		$ 33.9
Equity securities, step-up cost					$ 4.6			$ 4.6
Five Iron Golf \| Callaway Golf Co.
Schedule of Equity Method Investments [Line Items]
Equity ownership, percentage					20.00%			20.00%
Disposed of by Sale \| Topgolf
Schedule of Equity Method Investments [Line Items]
Percentage of equity interests sold		60.00%
Ownership interest after disposal		40.00%	39.30%		39.30%	40.00%
Proceeds from sale of business line, net of cash retained		$ 820.1
Loss on the sale of intangible assets (excluding goodwill)						$ 140.6
Disposed of by Sale \| Full Swing Golf Holdings, Inc. \| Forecast
Schedule of Equity Method Investments [Line Items]
Gain on disposal				$ 15.3
Disposed of by Sale \| Full Swing Golf Holdings, Inc. \| Subsequent Event
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of business line, net of cash retained	$ 24.6

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 2,123.9	$ 2,068.9
Change in derivative instruments	1.3	1.6
Income tax impact on derivative instruments	(0.6)	(0.8)
Foreign currency translation adjustments	(1.7)	(4.8)
Balance at end of period	2,162.4	2,162.4
Disposed of by Sale \| Topgolf
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Foreign currency translation adjustments		(3.6)
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net (gains) losses reclassified	0.5	1.0
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(33.7)	(27.6)
Balance at end of period	(34.2)	(34.2)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	1.6	1.0
Change in derivative instruments	1.3	1.6
Income tax impact on derivative instruments	(0.6)	(0.8)
Balance at end of period	2.8	2.8
Derivative Instruments \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net (gains) losses reclassified	0.5	1.0
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(35.3)	(28.6)
Foreign currency translation adjustments	(1.7)	(4.8)
Balance at end of period	$ (37.0)	(37.0)
Foreign Currency Translation \| Disposed of by Sale \| Topgolf
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Foreign currency translation adjustments		$ (3.6)

Commitments & Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Aug. 04, 2026	Jun. 30, 2026	Mar. 31, 2026
Gain Contingencies [Line Items]
Indemnities recorded related to the disposals of our businesses		$ 3.4
IEEPA Tariff Refund
Gain Contingencies [Line Items]
Tariff refund claims submitted			$ 49.5
Tariff refunds		$ 10.8
IEEPA Tariff Refund \| Subsequent Event
Gain Contingencies [Line Items]
Tariff refunds	$ 6.7

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total Consolidated	$ 612.2	$ 600.4	$ 1,299.7	$ 1,230.0
United States
Disaggregation of Revenue [Line Items]
Total Consolidated	414.7	401.1	863.5	817.2
Europe
Disaggregation of Revenue [Line Items]
Total Consolidated	64.8	64.6	148.0	128.9
Asia
Disaggregation of Revenue [Line Items]
Total Consolidated	90.3	91.9	193.9	198.7
Rest of World
Disaggregation of Revenue [Line Items]
Total Consolidated	42.4	42.8	94.3	85.2
Golf Equipment
Disaggregation of Revenue [Line Items]
Total Consolidated	430.3	411.8	916.5	855.7
Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Total Consolidated	181.9	188.6	383.2	374.3
Golf clubs \| Golf Equipment
Disaggregation of Revenue [Line Items]
Total Consolidated	316.5	312.7	697.1	652.7
Golf balls \| Golf Equipment
Disaggregation of Revenue [Line Items]
Total Consolidated	113.8	99.1	219.4	203.0
Apparel \| Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Total Consolidated	105.2	104.3	207.9	202.3
Gear, accessories & other \| Apparel, Gear and Other
Disaggregation of Revenue [Line Items]
Total Consolidated	$ 76.7	$ 84.3	$ 175.3	$ 172.0

Financing Arrangements

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Financing Arrangements

Our credit facilities and long-term debt obligations are summarized as follows (in millions, except interest rates):


			June 30,		December 31,
	Maturity Date	Interest Rate	2026		2025
Short-Term Credit Facilities
2023 ABL Credit Facility	March 16, 2028	5.14%	$	—	$	—
2025 Japan ABL Credit Facility	January 21, 2028	1.87%	43.1		44.7
Total Principal Amount			$	43.1	$	44.7
Unamortized Debt Issuance Costs			$	2.0	$	2.6

	Balance Sheet Location
ABL Credit Facilities	Asset-based credit facilities		$	43.1	$	44.7
Unamortized Debt Issuance Costs - Current	Prepaid expenses		$	1.2	$	1.2
Unamortized Debt Issuance Costs - Non-current	Other assets, net		$	0.8	$	1.4

			June 30,		December 31,
	Maturity Date	Interest Rate	2026		2025
Long-Term Debt and Credit Facilities
2023 Term Loan B	March 16, 2030	6.40%	$	—	$	1,165.6
Convertible Notes	May 1, 2026	2.75%	—		258.3
Equipment Notes	December 15, 2026 - December 21, 2027	2.36% - 5.93%	4.2		6.5
Financed Tenant Improvements	February 1, 2035 - September 1, 2035	8.00% - 10.00%	3.5		3.6
Total Principal Amount			$	7.7	$	1,434.0
Less: Unamortized Debt Issuance Costs			—		18.0
Total Debt, net of Unamortized Debt Issuance Costs			$	7.7	$	1,416.0

	Balance Sheet Location
Long-Term Debt - Current	Long-term debt, current portion		$	3.6	$	765.3
Long-Term Debt - Non-current	Long-term debt, net		4.1		650.7
Total Debt, net of Unamortized Debt Issuance Costs			$	7.7	$	1,416.0

Total interest and amortization expense related to our credit facilities and long-term debt obligations, which were recognized in interest income (expense), net on the condensed consolidated statement of operations, is summarized as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Short-Term Credit Facilities
2025 Japan ABL Credit Facility	$	0.2	$	0.2	$	0.4	$	0.3
2023 ABL Credit Facility	0.3		0.2		0.5		0.5
Total	$	0.5	$	0.4	$	0.9	$	0.8

Long-Term Debt and Credit Facilities
2023 Term Loan B	$	1.8	$	12.9	$	4.8	$	25.8
Convertible Notes	0.6		1.8		2.4		3.6
Equipment Notes	—		0.1		0.1		0.2
Financed Tenant Improvements	—		0.1		0.1		0.2
Total	$	2.4	$	14.9	$	7.4	$	29.8

Short-Term Credit Facilities and Available Liquidity

2025 Japan ABL Credit Facility & 2023 ABL Credit Facility

Our 2025 Japan ABL Credit Facility provides a line of credit to our Japan subsidiary of up to 9,000.0 million Yen (or approximately $55.4 million using the exchange rate in effect as of June 30, 2026), and our 2023 ABL Credit Facility has an aggregate principal amount of up to $485.0 million. Both facilities are subject to certain restrictions and covenants related to pledged collateral and financial performance, and, among other things, include provisions that limit certain financing and operational activities and require ongoing compliance with specified performance‑based or availability‑related conditions, as applicable under the respective agreements. In addition, the 2023 ABL Credit Facility requires compliance with a minimum fixed charge coverage ratio of 1.0 to 1.0 during periods in which the borrowing base availability falls below 10% of the maximum aggregate principal amount of the facility.

As of June 30, 2026, we were in compliance with the covenants and other requirements applicable under the 2025 Japan ABL Credit Facility and the 2023 ABL Credit Facility.

Consolidated Available Liquidity

As of June 30, 2026, our consolidated available liquidity, which is comprised of cash on hand and amounts available under our short-term credit facilities, less outstanding letters of credit and outstanding borrowings, was $774.7 million. Our average availability and weighted-average interest rate under our 2023 ABL Credit Facility and 2025 Japan ABL Credit Facility were as follows for the periods presented (in millions except interest rates):


	June 30, 2026
2023 ABL Credit Facility
Average availability	$	409.0
Weighted-average interest rate	7.70		%

2025 Japan ABL Credit Facility
Average availability	$	12.9
Weighted-average interest rate	1.48		%

Long-Term Debt and Credit Facilities

2023 Term Loan B

On December 1, 2025, in connection with the sale of the Topgolf business, our 2023 Term Loan B was amended to designate certain Topgolf entities as unrestricted subsidiaries and release them as guarantors, amend certain definitions and covenant provisions, and require a $500.0 million mandatory partial repayment upon consummation of the sale.

On January 2, 2026, in connection with the completion of the sale of Topgolf, we repaid $1,000.0 million under the 2023 Term Loan B comprised of a $500.0 million mandatory repayment and an additional discretionary repayment of $500.0 million. In conjunction with the repayment, we recognized a $15.0 million loss from the partial debt extinguishment to write off the proportionate amount of unamortized debt issuance costs and debt discounts. Of this amount, $7.5 million was allocated to continuing operations and was recognized in other income (expense), net on the condensed consolidated statement of operations. The remaining $7.5 million was allocated to discontinued operations and represents the portion of the write‑off related to the mandatory prepayment of the loan required upon completion of the Topgolf sale. On May 29, 2026, we repaid the remaining $162.5 million principal balance outstanding under the 2023 Term Loan B. In connection with the repayment, we recognized a $2.3 million loss from debt extinguishment to write off the remaining unamortized debt issuance costs and debt discounts, which were recognized in other income (expense), net on the condensed consolidated statement of operations.

Convertible Notes & Capped Call

We had Convertible Notes outstanding that were convertible into shares of our common stock at an initial conversion rate of 56.8 shares per $1,000 principal amount (equivalent to a conversion price of $17.62 per share) and bore interest payable semi-annually on May 1 and November 1. The Convertible Notes could be settled in cash, shares, or a combination thereof at our election and became convertible at the holders' option upon the occurrence of certain contingent conversion events beginning February 1, 2026. In connection with the Convertible Notes, we entered into capped call transactions covering the shares initially underlying the Convertible Notes, which were intended to reduce potential dilution and/or offset cash payments upon conversion. The capped calls had an exercise price of $17.62 per share and a cap price of $23.71 per share, were subject to customary adjustments, and were recorded as a reduction to additional paid-in capital.

On May 1, 2026, we settled our outstanding Convertible Notes at maturity in accordance with their terms, including the payment of accrued and unpaid interest. The settlement was completed entirely in cash, and no shares of common stock were issued. In connection with the settlement, the related capped call transactions expired unexercised.

Equipment Notes

We have long-term financing agreements (the “Equipment Notes”) with various lenders related to various capital investments in certain facilities and information technology equipment. The loans are secured by the relative underlying equipment.

Aggregate Amount of Long-Term Debt Maturities

The following table presents our combined aggregate amount of maturities for our long-term debt and credit facilities over the next five years and thereafter as of June 30, 2026 (in millions):



Remainder of 2026	$	2.4
2027	2.2
2028	0.3
2029	0.4
2030	0.4
Thereafter	2.0
Total aggregate amount of maturities	$	7.7

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Information

Our operating segments are based on how our Chief Executive Officer as the designated Chief Operating Decision Maker (“CODM”) makes decisions about assessing performance and allocating resources. Our CODM primarily evaluates segment performance using segment operating income (loss), which is calculated by taking total segment net sales less segment operating expenses. Segment operating expenses include operating expenses directly attributable to the segment as well as certain shared corporate administration services and other costs which are allocated to the reportable segments. Segment operating expenses exclude certain non-recurring items and other corporate costs, such as interest expense, interest income and taxes. Our CODM evaluates the profitability of each reportable segment based on segment operating income (loss) because it provides insight to operational leverage and other key operational metrics for each segment. Segment operating income (loss) is also used in the annual budget and forecasting process, and budget-to-actual and forecast-to-actual variances are considered when determining the appropriate allocation of company resources to each of our segments. Our CODM does not evaluate a measure of assets when assessing segment performance.

We have two operating and reportable segments:

•Golf Equipment, which is comprised of product sales and expenses that encompass golf club and golf ball products, including Callaway Golf-branded woods, hybrids, irons, wedges, Odyssey putters, packaged sets, Callaway Golf-branded golf balls and sales of pre-owned golf clubs; and

•Apparel, Gear and Other, which is comprised of product sales and expenses for the TravisMathew golf and lifestyle apparel and accessories business, the Callaway soft goods business and the OGIO business, which consists of golf apparel and accessories (including golf bags), and storage gear for sport and personal use. This segment also includes royalties from licensing of our trademarks and service marks for various soft goods products.

There were no significant intersegment transactions during the three and six months ended June 30, 2026 or 2025.

The following table contains information utilized by our CODM to evaluate our operating segments for the periods presented below (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Golf Equipment:
Net sales	$	430.3	$	411.8	$	916.5	$	855.7
Less: Cost of sales	227.9		237.7		493.3		484.8
Gross profit	202.4		174.1		423.2		370.9

Less: Selling, general and administrative expense	89.4		85.5		180.4		167.8
Less: Research and development expense	12.7		12.4		24.9		25.1
Income before income taxes	$	100.3	$	76.2	$	217.9	$	178.0

Apparel, Gear and Other:
Net sales	$	181.9	$	188.6	$	383.2	$	374.3
Less: Cost of sales	87.3		98.9		181.6		197.0
Gross profit	94.6		89.7		201.6		177.3

Less: Selling, general and administrative expense	58.1		57.5		110.1		106.5
Less: Research and development expense	3.1		2.9		6.1		6.1
Income before income taxes	$	33.4	$	29.3	$	85.4	$	64.7

Segment income from continuing operations	$	133.7	$	105.5	$	303.3	$	242.7

Reconciling items:
Non-recurring items (1)	7.5		(0.9)		3.5		(2.2)
Corporate costs and expenses (2)	(26.4)		(30.3)		(53.8)		(63.1)
Total reconciling items:	(18.9)		(31.2)		(50.3)		(65.3)
Income (loss) from operations	114.8		74.3		253.0		177.4
Interest income (expense), net	(4.6)		(15.3)		(10.4)		(30.2)
Other income (expense), net	1.4		(0.4)		4.3		2.0
Total other income (expense), net	(3.2)		(15.7)		(6.1)		(28.2)
Income (loss) from equity method investments	(1.0)		—		(28.7)		—
Income (loss) from continuing operations, before income taxes	$	110.6	$	58.6	$	218.2	$	149.2

(1) Includes non-cash amortization of acquired intangible assets and non-recurring items primarily consisting of tariff refunds, costs related to a relocation to a new warehouse in the United Kingdom as a result of the sale of the Jack Wolfskin business, restructuring and reorganization charges relating to the Transformation Plan (see Note 18), and the write-off of software assets stemming from our separation from Topgolf.
(2) Corporate costs and expenses include corporate general and administrative expenses not utilized by management in determining segment profitability as well as adjustments for discontinued operations related to indirect costs that were previously allocated to a segment.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Depreciation and amortization:
Golf Equipment	$	5.5	$	6.3	$	11.7	$	13.2
Apparel, Gear and Other	4.0		4.9		8.6		9.7
Total depreciation and amortization	$	9.5	$	11.2	$	20.3	$	22.9

We market our products in the United States and internationally, with our principal international markets being Asia and Europe. The tables below contain information about the geographical areas in which we operate. Net sales are attributed to the location to which the product was shipped. Long-lived assets are based on location of domicile.


	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2026		2025		2026		2025
Net sales:
United States	$	414.7	$	401.1	$	863.5	$	817.2
Europe	64.8		64.6		148.0		128.9
Asia	90.3		91.9		193.9		198.7
Rest of World	42.4		42.8		94.3		85.2
Total net sales	$	612.2	$	600.4	$	1,299.7	$	1,230.0


	June 30, 2026		December 31, 2025
Long-lived assets
United States	$	129.0	$	136.4
Europe	9.6		4.2
Asia	11.2		12.9
Rest of World	5.9		6.0
Total long-lived assets	$	155.7	$	159.5

- Definition

The entire disclosure for segment reporting.

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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table presents our net sales disaggregated by operating and reportable segment and major category (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Sales by Operating and Reportable Segment and Major Category
Golf Equipment:
Golf clubs	$	316.5	$	312.7	$	697.1	$	652.7
Golf balls	113.8		99.1		219.4		203.0
Total Golf Equipment	$	430.3	$	411.8	$	916.5	$	855.7

Apparel, Gear and Other:
Apparel	$	105.2	$	104.3	$	207.9	$	202.3
Gear, accessories & other	76.7		84.3		175.3		172.0
Total Apparel, Gear and Other	$	181.9	$	188.6	$	383.2	$	374.3

Total Consolidated	$	612.2	$	600.4	$	1,299.7	$	1,230.0

The following table summarizes sales by geographical region (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Sales by Major Geographic Region:
United States	$	414.7	$	401.1	$	863.5	$	817.2
Europe	64.8		64.6		148.0		128.9
Asia	90.3		91.9		193.9		198.7
Rest of World	42.4		42.8		94.3		85.2
Total Consolidated	$	612.2	$	600.4	$	1,299.7	$	1,230.0

The following table summarizes the licensing and royalty income recognized in net sales for the periods presented (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Apparel, Gear and Other	$	6.1	$	9.0	$	15.1	$	16.1

Schedule of Reconciliation of Activity Related to Short-Term Deferred Revenue

The following table provides a reconciliation of activity related to our short-term deferred revenue balance for the periods presented (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Beginning Balance (1)	$	15.5	$	16.2	$	21.5	$	15.9
Deferral of revenue	8.0		5.9		14.7		11.4
Revenue recognized	(7.6)		(5.7)		(20.3)		(11.0)
Foreign currency translation and other	—		(0.1)		—		—
Ending Balance	$	15.9	$	16.3	$	15.9	$	16.3
(1) Beginning balances for the three months ended June 30, 2026 and 2025 represent ending balances as of March 31, 2026 and 2025, respectively. Beginning balances for the six months ended June 30, 2026 and 2025 represent ending balances as of December 31, 2025 and 2024, respectively.

The Company and Basis of Presentation (Details)	6 Months Ended
The Company and Basis of Presentation (Details)	Jun. 30, 2026 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2
Number of reportable segments	2

Investments (Tables)

6 Months Ended

Jun. 30, 2026

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Financial Information for Equity Method Investee

The following table presents summarized information for Topgolf for the periods presented (amounts in millions). Amounts presented represent the results of operations of Topgolf and do not represent our proportionate share:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026			2026
Net revenues	$	467.2		$	858.9
Depreciation and amortization expense	$	52.3		$	105.2
Income (loss) from operations	$	43.3		$	22.3
Interest expense	$	47.0		$	94.8
Net income (loss)	$	(3.9)		$	(73.1)

Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule 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 our derivative instruments as well as the location of the asset and/or liability on the condensed consolidated balance sheets as of the periods presented below (in millions):


	Balance Sheet Location	Fair Value of Asset Derivatives
		June 30, 2026		December 31, 2025
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Other current assets	$	2.8	$	0.4




Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets	3.2		0.3



Total asset position		$	6.0	$	0.7


	Balance Sheet Location	Fair Value of Liability Derivatives
		June 30, 2026		December 31, 2025
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	$	0.2	$	0.4



Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	0.5		0.4




Total liability position		$	0.7	$	0.8

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following tables summarize the net effect of all cash flow hedges for each of our derivative contracts on the condensed consolidated financial statements for the periods presented (in millions):


	Net Gain/(Loss) Recognized in Other Comprehensive Income
	Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	2026		2025		2026		2025
Foreign currency forward contracts	$	1.3	$	(5.2)	$	1.6	$	(7.8)
Interest rate swap contracts	—		(1.7)		—		(5.8)
Total	$	1.3	$	(6.9)	$	1.6	$	(13.6)


		Net Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings
		Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	Statement of Operations Location	2026		2025		2026		2025
Foreign currency forward contracts	Cost of sales	$	(0.5)	$	(1.5)	$	(1.0)	$	(0.6)
Interest rate swap contracts	Interest expense	—		1.0		—		2.2
Total		$	(0.5)	$	(0.5)	$	(1.0)	$	1.6

Schedule of 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 on foreign currency forward contracts recognized in the condensed consolidated statements of operations for the periods presented (in millions):


	Location of Net Gain/(Loss) Recognized in Income on Derivative Instruments	Net Gain/(Loss) Recognized in Income on Derivative Instruments
Derivatives not designated as hedging instruments		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
Foreign currency forward contracts	Other income (expense), net	$	2.9	$	(17.3)	$	6.7	$	(27.2)

Commitments & Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Purchase Commitments

As of June 30, 2026, the minimum obligation we are required to pay under these agreements over the next five years and thereafter is as follows (in millions):


Remainder of 2026	$	40.5
2027	30.0
2028	12.9
2029	0.7
2030	2.1
Thereafter	2.1
Total	$	88.3

Selected Financial Data (Tables)

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Schedule of Selected Financial Statement Information

Selected financial data as of the dates presented below is as follows (in millions, except useful life data):


		June 30, 2026		December 31, 2025
Inventories:
Finished goods		$	415.7	$	517.4
Work in process		0.6		0.7
Raw materials		101.9		107.2
Total inventories		$	518.2	$	625.3

		June 30, 2026		December 31, 2025
Other current assets:
Credit card and other receivables		$	27.1	$	24.0
Sales return reserve cost recovery asset		42.2		30.4
Taxes receivable		20.8		14.7
Other		6.0		0.7
Total other current assets		$	96.1	$	69.8

	Estimated Useful Life	June 30, 2026		December 31, 2025
Property, plant and equipment, net:
Land		$	7.3	$	7.2
Buildings and leasehold improvements	3 - 30 years	156.8		154.5
Machinery and equipment	3 - 15 years	160.3		159.4
Furniture, computer hardware and equipment	3 - 5 years	127.1		127.6
Internal-use software	3 - 5 years	34.6		39.8
Production molds	2 - 5 years	11.3		11.4
Construction-in-process		15.4		6.6
Total property, plant, and equipment, gross		512.8		506.5
Less: Accumulated depreciation		357.1		347.0
Total property, plant, and equipment, net		$	155.7	$	159.5


(in millions)	June 30, 2026		December 31, 2025
Accounts payable and accrued expenses:
Accounts payable	$	84.2	$	109.6
Accrued expenses	106.3		89.9
Accrued inventory	45.7		96.7
Total accounts payable and accrued expenses	$	236.2	$	296.2

Share-Based Compensation - Schedule of Share-Based Payment Arrangement Activity Expensed (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	$ 6.0	$ 5.4	$ 12.4	$ 11.3
Income tax benefit	(1.4)	(1.3)	(3.0)	(2.7)
Share-based compensation expense, after tax	4.6	4.1	9.4	8.6
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	3.0	2.3	6.0	4.4
Performance based restricted share unit awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	$ 3.0	$ 3.1	$ 6.4	$ 6.9

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Our significant accounting policies are described in Note 2 to our audited consolidated financial statements for the year ended December 31, 2025, which are included in our Annual Report on Form 10-K which was filed with the SEC on February 27, 2026. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances at that time. We evaluate our estimates on an ongoing basis to ensure that these estimates appropriately reflect changes in our business or as new information becomes available. Actual results may differ from our estimates. Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires disclosure, on an annual and interim basis, of specific information about cost and expense related items within the notes to our condensed consolidated financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on either a prospective or retrospective basis with early adoption permitted. We are in the process of evaluating the impact that ASU 2024-03 will have on our condensed consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU No. 2025-06, “Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”), which clarifies the difference between expensed costs and capitalized costs by removing all references to software development project stages so that the guidance is neutral to different software development methods, including methods that entities may use to develop software in the future. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. We are evaluating the impact of ASU 2025-06 and do not expect adoption of the standard to have a material impact on our consolidated financial statements and related disclosures. Recently Adopted Accounting Standards In May 2026, the FASB issued ASU No. 2026-02, “Environmental Credits and Environmental Credit Obligations (Topic 818)” (“ASU 2026-02”), which provides specific authoritative guidance for environmental credits and environmental credit obligations. ASU 2026-02 is effective for fiscal years beginning after December 15, 2027, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. We elected to early adopt this ASU effective for our quarter ended June 30, 2026. The adoption of this ASU did not have a material impact on our consolidated financial statements or related disclosures for the period ended June 30, 2026.

Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Our credit facilities and long-term debt obligations are summarized as follows (in millions, except interest rates):


			June 30,		December 31,
	Maturity Date	Interest Rate	2026		2025
Short-Term Credit Facilities
2023 ABL Credit Facility	March 16, 2028	5.14%	$	—	$	—
2025 Japan ABL Credit Facility	January 21, 2028	1.87%	43.1		44.7
Total Principal Amount			$	43.1	$	44.7
Unamortized Debt Issuance Costs			$	2.0	$	2.6

	Balance Sheet Location
ABL Credit Facilities	Asset-based credit facilities		$	43.1	$	44.7
Unamortized Debt Issuance Costs - Current	Prepaid expenses		$	1.2	$	1.2
Unamortized Debt Issuance Costs - Non-current	Other assets, net		$	0.8	$	1.4

			June 30,		December 31,
	Maturity Date	Interest Rate	2026		2025
Long-Term Debt and Credit Facilities
2023 Term Loan B	March 16, 2030	6.40%	$	—	$	1,165.6
Convertible Notes	May 1, 2026	2.75%	—		258.3
Equipment Notes	December 15, 2026 - December 21, 2027	2.36% - 5.93%	4.2		6.5
Financed Tenant Improvements	February 1, 2035 - September 1, 2035	8.00% - 10.00%	3.5		3.6
Total Principal Amount			$	7.7	$	1,434.0
Less: Unamortized Debt Issuance Costs			—		18.0
Total Debt, net of Unamortized Debt Issuance Costs			$	7.7	$	1,416.0

	Balance Sheet Location
Long-Term Debt - Current	Long-term debt, current portion		$	3.6	$	765.3
Long-Term Debt - Non-current	Long-term debt, net		4.1		650.7
Total Debt, net of Unamortized Debt Issuance Costs			$	7.7	$	1,416.0

Schedule of Interest Expense, Debt


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Short-Term Credit Facilities
2025 Japan ABL Credit Facility	$	0.2	$	0.2	$	0.4	$	0.3
2023 ABL Credit Facility	0.3		0.2		0.5		0.5
Total	$	0.5	$	0.4	$	0.9	$	0.8

Long-Term Debt and Credit Facilities
2023 Term Loan B	$	1.8	$	12.9	$	4.8	$	25.8
Convertible Notes	0.6		1.8		2.4		3.6
Equipment Notes	—		0.1		0.1		0.2
Financed Tenant Improvements	—		0.1		0.1		0.2
Total	$	2.4	$	14.9	$	7.4	$	29.8

Schedule of Borrowings, Availability, Interest Rate and Liquidity for Short-Term Credit Facilities

Our average availability and weighted-average interest rate under our 2023 ABL Credit Facility and 2025 Japan ABL Credit Facility were as follows for the periods presented (in millions except interest rates):


	June 30, 2026
2023 ABL Credit Facility
Average availability	$	409.0
Weighted-average interest rate	7.70		%

2025 Japan ABL Credit Facility
Average availability	$	12.9
Weighted-average interest rate	1.48		%

Schedule of Aggregate Amount of Maturities for Debt

The following table presents our combined aggregate amount of maturities for our long-term debt and credit facilities over the next five years and thereafter as of June 30, 2026 (in millions):



Remainder of 2026	$	2.4
2027	2.2
2028	0.3
2029	0.4
2030	0.4
Thereafter	2.0
Total aggregate amount of maturities	$	7.7

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 8
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table details the amounts reclassified from accumulated other comprehensive loss and foreign currency translation adjustments for the three and six months ended June 30, 2026 (in millions):


	Derivative Instruments		Foreign Currency Translation		Total
Accumulated other comprehensive loss, March 31, 2026, after tax	$	1.6	$	(35.3)	$	(33.7)
Change in derivative instruments	1.3		—		1.3
Net (gains) losses reclassified to cost of sales	0.5		—		0.5


Income tax impact on derivative instruments	(0.6)		—		(0.6)

Foreign currency translation adjustments	—		(1.7)		(1.7)
Accumulated other comprehensive loss, June 30, 2026, after tax	$	2.8	$	(37.0)	$	(34.2)


	Derivative Instruments		Foreign Currency Translation		Total
Accumulated other comprehensive loss, December 31, 2025, after tax	$	1.0	$	(28.6)	$	(27.6)
Change in derivative instruments	1.6		—		1.6
Net (gains) losses reclassified to cost of sales	1.0		—		1.0


Income tax impact on derivative instruments	(0.8)		—		(0.8)
Cumulative foreign currency translation adjustments recognized upon the sale of Topgolf	—		(3.6)		(3.6)
Foreign currency translation adjustments	—		(4.8)		(4.8)
Accumulated other comprehensive loss, June 30, 2026, after tax	$	2.8	$	(37.0)	$	(34.2)

Discontinued Operations - Schedule of the Results of Discontinued Operations on the Consolidated Income Statement (Details) - Disposed of by Sale - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net revenues:
Total net revenues		$ 511.1		$ 974.3
Costs and expenses:
Other venue expense		336.3		657.5
Selling, general and administrative expense	$ 0.6	68.2	$ (2.1)	161.5
Research and development expense		4.4		9.8
Venue pre-opening costs		1.8		2.4
Total costs and expenses	0.6	479.4	(2.1)	979.3
Income (loss) from discontinued operations	(0.6)	31.7	2.1	(5.0)
Interest income (expense), net		(43.4)		(86.6)
Other income (expense), net	0.0	(12.7)	(7.5)	(11.9)
Income (loss) from discontinued operations before income taxes	(0.6)	(24.4)	(5.4)	(103.5)
Income tax provision (benefit)	0.0	0.8	(23.0)	(17.0)
Net income (loss) from discontinued operations	(0.6)	(25.2)	17.6	(86.5)
Products
Net revenues:
Total net revenues		29.7		102.8
Costs and expenses:
Costs of products and services		18.4		58.7
Services
Net revenues:
Total net revenues		481.4		871.5
Costs and expenses:
Costs of products and services		50.3		89.4
Topgolf
Net revenues:
Total net revenues		485.2		878.9
Costs and expenses:
Other venue expense		336.3		657.5
Selling, general and administrative expense	0.1	46.6	(2.6)	96.9
Research and development expense		3.6		7.6
Venue pre-opening costs		1.8		2.4
Total costs and expenses	0.1	440.6	(2.6)	858.0
Income (loss) from discontinued operations	(0.1)	44.6	2.6	20.9
Interest income (expense), net		(43.4)		(86.5)
Other income (expense), net	0.0	0.0	(7.5)	(0.3)
Income (loss) from discontinued operations before income taxes	(0.1)	1.2	(4.9)	(65.9)
Income tax provision (benefit)	0.0	6.0	(23.0)	(12.8)
Net income (loss) from discontinued operations	(0.1)	(4.8)	18.1	(53.1)
Topgolf \| Products
Net revenues:
Total net revenues		3.8		7.4
Costs and expenses:
Costs of products and services		2.0		4.2
Topgolf \| Services
Net revenues:
Total net revenues		481.4		871.5
Costs and expenses:
Costs of products and services		50.3		89.4
Jack Wolfskin
Net revenues:
Total net revenues		25.9		95.4
Costs and expenses:
Other venue expense		0.0		0.0
Selling, general and administrative expense	0.5	21.6	0.5	64.6
Research and development expense		0.8		2.2
Venue pre-opening costs		0.0		0.0
Total costs and expenses	0.5	38.8	0.5	121.3
Income (loss) from discontinued operations	(0.5)	(12.9)	(0.5)	(25.9)
Interest income (expense), net		0.0		(0.1)
Other income (expense), net	0.0	(12.7)	0.0	(11.6)
Income (loss) from discontinued operations before income taxes	(0.5)	(25.6)	(0.5)	(37.6)
Income tax provision (benefit)	0.0	(5.2)	0.0	(4.2)
Net income (loss) from discontinued operations	$ (0.5)	(20.4)	$ (0.5)	(33.4)
Jack Wolfskin \| Products
Net revenues:
Total net revenues		25.9		95.4
Costs and expenses:
Costs of products and services		16.4		54.5
Jack Wolfskin \| Services
Net revenues:
Total net revenues		0.0		0.0
Costs and expenses:
Costs of products and services		$ 0.0		$ 0.0

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2026

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following is a summary of the results of discontinued operations on the condensed consolidated statement of operations for the periods presented below (in millions). Results of discontinued operations for the three and six months ended June 30, 2026 primarily reflect the settlement of certain indemnification obligations and costs directly related to our divestitures of Topgolf and Jack Wolfskin, in addition to the recognition of an income tax benefit in connection with the sale of Topgolf.


	Three Months Ended June 30, 2026						Six Months Ended June 30, 2026
	Topgolf		Jack Wolfskin		Total		Topgolf		Jack Wolfskin		Total








Selling, general and administrative expense	$	0.1	$	0.5	$	0.6	$	(2.6)	$	0.5	$	(2.1)




Total costs and expenses	0.1		0.5		0.6		(2.6)		0.5		(2.1)
Income (loss) from discontinued operations	(0.1)		(0.5)		(0.6)		2.6		(0.5)		2.1

Other income (expense), net	—		—		—		(7.5)		—		(7.5)
Income (loss) from discontinued operations before income taxes	(0.1)		(0.5)		(0.6)		(4.9)		(0.5)		(5.4)
Income tax provision (benefit)	—		—		—		(23.0)		—		(23.0)
Net income (loss) from discontinued operations	$	(0.1)	$	(0.5)	$	(0.6)	$	18.1	$	(0.5)	$	17.6


	Three Months Ended June 30, 2025						Six Months Ended June 30, 2025
	Topgolf		Jack Wolfskin		Total		Topgolf		Jack Wolfskin		Total
Net revenues:
Products	$	3.8	$	25.9	$	29.7	$	7.4	$	95.4	$	102.8
Services	481.4		—		481.4		871.5		—		871.5
Total net revenues	485.2		25.9		511.1		878.9		95.4		974.3
Costs and expenses:
Cost of products	2.0		16.4		18.4		4.2		54.5		58.7
Cost of services, excluding depreciation and amortization	50.3		—		50.3		89.4		—		89.4
Other venue expense	336.3		—		336.3		657.5		—		657.5
Selling, general and administrative expense	46.6		21.6		68.2		96.9		64.6		161.5
Research and development expense	3.6		0.8		4.4		7.6		2.2		9.8

Venue pre-opening costs	1.8		—		1.8		2.4		—		2.4
Total costs and expenses	440.6		38.8		479.4		858.0		121.3		979.3
Income (loss) from discontinued operations	44.6		(12.9)		31.7		20.9		(25.9)		(5.0)
Interest income (expense), net	(43.4)		—		(43.4)		(86.5)		(0.1)		(86.6)
Other income (expense), net	—		(12.7)		(12.7)		(0.3)		(11.6)		(11.9)
Income (loss) from discontinued operations before income taxes	1.2		(25.6)		(24.4)		(65.9)		(37.6)		(103.5)
Income tax provision (benefit)	6.0		(5.2)		0.8		(12.8)		(4.2)		(17.0)
Net income (loss) from discontinued operations	$	(4.8)	$	(20.4)	$	(25.2)	$	(53.1)	$	(33.4)	$	(86.5)

The following tables summarize the assets and liabilities of discontinued operations on the condensed consolidated balance sheets for the periods presented (in millions). As Jack Wolfskin was sold on May 31, 2025, and the sale of Topgolf was completed effective January 1, 2026, there are no assets or liabilities of discontinued operations as of June 30, 2026.


As of December 31, 2025
	Topgolf
Current assets of discontinued operations

Accounts receivable	$	4.2
Inventories	37.1
Other current assets	117.2
Total current assets of discontinued operations	158.5
Long-term assets of discontinued operations
Property, plant and equipment, net	2,072.5
Operating lease right-of-use assets, net	1,066.4
Trade names and trademarks	607.9
Other intangible assets, net	46.5
Other assets, net	218.2
Total long-term assets of discontinued operations	4,011.5
Total assets of discontinued operations	$	4,170.0
Current liabilities of discontinued operations
Accounts payable and accrued expenses	$	117.2
Accrued employee compensation and benefits	56.1

Operating lease liabilities, short-term	59.8
Construction advances	29.1
Deferred revenue	59.7
Other current liabilities	3.1
Total current liabilities of discontinued operations	325.0
Long-term liabilities of discontinued operations
Long-term debt, net	42.8
Operating lease liabilities, long-term	1,102.5
Deemed landlord financing obligations	1,300.7
Other long-term liabilities	342.5
Total long-term liabilities of discontinued operations	2,788.5
Total liabilities of discontinued operations	$	3,113.5

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Financing Arrangements - Convertible Notes & Capped Call (Narrative) (Details) - Convertible Notes	6 Months Ended
	Jun. 30, 2026 $ / shares
Debt Instrument [Line Items]
Debt instrument, capped call transaction, price per share (in dollars per share)	$ 23.71
Senior Notes
Debt Instrument [Line Items]
Debt instrument, convertible, conversion ratio	0.0568
Debt instrument, convertible, conversion price (in dollars per share)	$ 17.62

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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 41: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 42: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 619.8
Foreign currency translation and other	(0.3)
Balance at end of period	619.5
Golf Equipment
Goodwill [Roll Forward]
Balance at beginning of period	531.5
Foreign currency translation and other	(0.3)
Balance at end of period	531.2
Apparel, Gear and Other
Goodwill [Roll Forward]
Balance at beginning of period	88.3
Foreign currency translation and other	0.0
Balance at end of period	$ 88.3

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss


	Derivative Instruments		Foreign Currency Translation		Total
Accumulated other comprehensive loss, March 31, 2026, after tax	$	1.6	$	(35.3)	$	(33.7)
Change in derivative instruments	1.3		—		1.3
Net (gains) losses reclassified to cost of sales	0.5		—		0.5


Income tax impact on derivative instruments	(0.6)		—		(0.6)

Foreign currency translation adjustments	—		(1.7)		(1.7)
Accumulated other comprehensive loss, June 30, 2026, after tax	$	2.8	$	(37.0)	$	(34.2)


	Derivative Instruments		Foreign Currency Translation		Total
Accumulated other comprehensive loss, December 31, 2025, after tax	$	1.0	$	(28.6)	$	(27.6)
Change in derivative instruments	1.6		—		1.6
Net (gains) losses reclassified to cost of sales	1.0		—		1.0


Income tax impact on derivative instruments	(0.8)		—		(0.8)
Cumulative foreign currency translation adjustments recognized upon the sale of Topgolf	—		(3.6)		(3.6)
Foreign currency translation adjustments	—		(4.8)		(4.8)
Accumulated other comprehensive loss, June 30, 2026, after tax	$	2.8	$	(37.0)	$	(34.2)

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Valuation of Foreign Currency Exchange Contracts by Pricing Levels

The following table summarizes the valuation of our foreign currency forward contracts (see Note 15) that are measured at fair value on a recurring basis and are categorized within Level 2 of the fair value hierarchy as of the periods presented below (in millions):


	Level 2 Fair Value
June 30, 2026
Foreign currency forward contracts—asset position	$	6.0
Foreign currency forward contracts—liability position	(0.7)


Total	$	5.3
December 31, 2025
Foreign currency forward contracts—asset position	$	0.7
Foreign currency forward contracts—liability position	(0.8)


Total	$	(0.1)

Schedule of Fair Value Relating to Financial Assets and Liabilities

The table below presents information about the fair value of our financial liabilities, and is provided for comparative purposes only relative to the carrying values recognized in the condensed consolidated balance sheets as of the periods presented below (in millions):


		June 30, 2026				December 31, 2025
	Measurement Level	Carrying Value		Fair Value		Carrying Value		Fair Value

2025 Japan ABL Credit Facility	Level 2	$	43.1	$	43.1	$	44.7	$	44.7
2023 Term Loan B	Level 2	$	—	$	—	$	1,165.6	$	1,170.7
Convertible Notes	Level 2	$	—	$	—	$	258.3	$	257.8
Equipment Notes	Level 2	$	4.2	$	4.1	$	6.5	$	6.2

Earnings (Loss) Per Common Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings (loss) per common share—basic
Net income (loss) from continuing operations	$ 75.8		$ 45.5		$ 150.7	$ 108.9
Income (loss) from discontinued operations, net of tax	(0.6)		(25.2)		17.6	(86.5)
Net income (loss)	$ 75.2	$ 93.1	$ 20.3	$ 2.1	$ 168.3	$ 22.4
Weighted-average common shares outstanding—basic (in shares)	179.7		183.8		181.7	183.6
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.42		$ 0.25		$ 0.83	$ 0.59
Discontinued operations (in dollars per share)	0		(0.14)		0.10	(0.47)
Net earnings (loss) (in dollars per share)	$ 0.42		$ 0.11		$ 0.93	$ 0.12
Earnings (loss) per common share—diluted
Add: Interest expense attributable to Convertible Notes, net of tax	$ 0.6		$ 1.7		$ 2.2	$ 3.3
Income (loss) from continuing operations and assumed conversions	76.4		47.2		152.9	112.2
Net income (loss) attributable to earnings per common share	$ 75.8		$ 22.0		$ 170.5	$ 25.7
Incremental shares for assumed conversion of Convertible Notes (in shares)	5.0		14.7		9.8	14.7
Outstanding options, restricted stock units and performance share units (in shares)	5.4		1.3		4.8	0.7
Weighted-average common shares outstanding—diluted (in shares)	190.1		199.8		196.3	199.0
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.40		$ 0.24		$ 0.78	$ 0.56
Discontinued operations (in dollars per share)	0		(0.12)		0.09	(0.42)
Net earnings (loss) (in dollars per share)	$ 0.40		$ 0.11		$ 0.87	$ 0.13

Revenue Recognition - Schedule of Reconciliation of Activity Related to Short-Term Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Contract With Customer, Liability [Roll Forward]
Beginning Balance	$ 15.5	$ 16.2	$ 21.5	$ 15.9
Deferral of revenue	8.0	5.9	14.7	11.4
Revenue recognized	(7.6)	(5.7)	(20.3)	(11.0)
Foreign currency translation and other	0.0	(0.1)	0.0	0.0
Ending Balance	$ 15.9	$ 16.3	$ 15.9	$ 16.3

Investments

6 Months Ended

Jun. 30, 2026

Equity Method Investments and Joint Ventures [Abstract]

Investments

Investment in Topgolf

Upon completion of the sale of our 60% ownership interest in Topgolf effective January 1, 2026, we retained a 40% non-controlling interest with an initial value of $248.5 million. The retained investment is accounted for under the equity method and was recorded at fair value using Level 3 inputs based on the equity value of Topgolf which was derived from the transaction price and adjusted for working capital and other transaction specific adjustments. The carrying amount of the investment is subsequently adjusted to reflect our proportionate share of Topgolf’s income or losses and dividends and distributions received. During the second quarter of 2026, Topgolf sold additional dilutive units which decreased our non-controlling interest to 39.3%.


	Three Months Ended June 30,		Six Months Ended June 30,
	2026			2026
Net revenues	$	467.2		$	858.9
Depreciation and amortization expense	$	52.3		$	105.2
Income (loss) from operations	$	43.3		$	22.3
Interest expense	$	47.0		$	94.8
Net income (loss)	$	(3.9)		$	(73.1)

For the three and six months ended June 30, 2026, we recognized $1.0 million and $28.7 million, respectively, of equity method investment loss for our respective share of Topgolf’s earnings, which is recorded in income (loss) from equity method investments in the condensed consolidated statement of operations. During the second quarter of 2026, we recognized a $6.5 million distribution from Topgolf, of which, $5.6 million was received in cash, which reduced the carrying value of our investment. We classify cash flows from equity method investment distributions using the cumulative earnings approach. Based on this approach, we determined the distribution was a return of investment and it was therefore classified within investing activities in the condensed consolidated statements of cash flows. As of June 30, 2026, the carrying value of our investment in Topgolf was $213.9 million and is included in equity method investments on our condensed consolidated balance sheets.

For the three and six months ended June 30, 2026, we recognized $2.1 million and $5.3 million, respectively, in net sales for products sold under our commercial agreement with Topgolf. Intra-entity profits on certain sales transactions with Topgolf are eliminated until realized by the Company. As of June 30, 2026, we had $1.6 million in open receivables due from Topgolf related to product sales and services under the commercial and transition service agreements.

Investment in Full Swing

We have an ownership interest of less than 20.0% in Full Swing Golf Holdings, LLC (“Full Swing”), owners of multi-sport indoor virtualization and simulation technology. The initial investment is accounted for at cost and is subsequently adjusted for observable changes in fair value or impairments. As of both June 30, 2026 and December 31, 2025, the carrying value of our investment in Full Swing was $9.3 million, and is included in other assets, net on our condensed consolidated balance sheets.

On July 6, 2026, it was announced that Full Swing has entered into a definitive agreement to sell the business in its entirety to Versant Media Group, Inc. The transaction closed on August 3, 2026, and we received cash proceeds of approximately $24.6 million. Based on the carrying value of our investment as of June 30, 2026, we expect to recognize a gain of approximately $15.3 million in the third quarter of 2026.

Investment in Five Iron Golf

We have an ownership interest of less than 20.0% in The Range NYC, LLC (“Five Iron Golf”), an urban indoor golf experience company which hosts a golf simulation technology and serves food and beverage. The initial investment is accounted for at cost and is subsequently adjusted for observable changes in fair value or impairments. During the six months ended June 30, 2026, we recognized a $4.6 million fair value step-up in our investment based on Level 3 inputs related to an observable market transaction that occurred during the first quarter of 2026. As of June 30, 2026 and December 31, 2025, the carrying value of our investment in Five Iron Golf was $38.5 million and $33.9 million, respectively, and is included in other assets, net on our condensed consolidated balance sheets.

Other Investments

In addition to the investments above, as of June 30, 2026 and December 31, 2025, we had other investments of approximately $5.2 million and $4.4 million, respectively, which are classified in other assets, net on our condensed consolidated balance sheets. The investments are accounted for at cost less impairments and are adjusted for observable changes in fair value.

Discontinued Operations - Divestiture of the Topgolf Business (Narrative) (Details) - USD ($) $ in Millions					1 Months Ended	3 Months Ended				6 Months Ended
	May 29, 2026	Jan. 02, 2026	Jan. 01, 2026	Dec. 01, 2025	Apr. 30, 2026	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from sale of business line, net of cash retained										$ 820.1	$ 286.0
2023 Term Loan B \| Secured Debt
Disposal Group, Including Discontinued Operations [Line Items]
Contingent repayment of debt	$ 162.5	$ 1,000.0		$ 500.0					$ 500.0		500.0
Disposed of by Sale \| Topgolf
Disposal Group, Including Discontinued Operations [Line Items]
Percentage of equity interests sold			60.00%
Disposal group, including discontinued operation, fair value			$ 1,100.0
Proceeds from sale of business line, net of cash retained			$ 820.1
Loss on the sale of intangible assets (excluding goodwill), before tax								$ 143.1
Loss on the sale of intangible assets (excluding goodwill), working capital adjustments							$ 2.5
Loss on the sale of intangible assets (excluding goodwill)							$ 140.6
Ownership interest after disposal			40.00%		39.30%	39.30%	40.00%
Disposal group, including discontinued operation, other income						$ 1.1				$ 2.3
Interest from corporate debt									$ 9.6		$ 19.1

Financing Arrangements - Consolidated Available Liquidity (Narrative) (Details) $ in Millions	Jun. 30, 2026 USD ($)
Debt Disclosure [Abstract]
Line of credit facility, available liquidity	$ 774.7

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Operating lease costs	$ 8.7	$ 8.6	$ 17.7	$ 16.7
Financing lease costs:
Amortization of ROU assets	1.0	0.0	1.1	0.1
Interest on lease liabilities	0.7	0.0	0.7	0.0
Total financing lease costs	1.7	0.0	1.8	0.1
Variable lease costs	0.3	0.3	0.7	0.6
Total lease costs	$ 10.7	$ 8.9	$ 20.2	$ 17.4

Financing Arrangements - Schedule of Interest Expense, Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Secured Debt \| 2023 Term Loan B
Debt Instrument [Line Items]
Interest expense, debt	$ 1.8	$ 12.9	$ 4.8	$ 25.8
Senior Notes \| Convertible Notes
Debt Instrument [Line Items]
Interest expense, debt	0.6	1.8	2.4	3.6
Equipment Notes
Debt Instrument [Line Items]
Interest expense, debt	0.0	0.1	0.1	0.2
Financed Tenant Improvements
Debt Instrument [Line Items]
Interest expense, debt	0.0	0.1	0.1	0.2
Long-Term Debt - Non-current
Debt Instrument [Line Items]
Interest expense, debt	2.4	14.9	7.4	29.8
Line of Credit \| Revolving Credit Facility \| 2025 Japan ABL Credit Facility
Debt Instrument [Line Items]
Interest expense, debt	0.2	0.2	0.4	0.3
Line of Credit \| Revolving Credit Facility \| 2023 ABL Credit Facility
Debt Instrument [Line Items]
Interest expense, debt	0.3	0.2	0.5	0.5
Short-Term Debt
Debt Instrument [Line Items]
Interest expense, debt	$ 0.5	$ 0.4	$ 0.9	$ 0.8

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Operating lease ROU assets, net	$ 161.0	$ 173.5
Financing lease ROU assets, net	$ 22.6	$ 0.7
Financing lease ROU assets, net, location	Other assets, net	Other assets, net
Current
Operating lease liabilities, short-term	$ 23.1	$ 22.9
Financing lease liabilities, short-term	$ 1.7	$ 0.3
Financing lease liabilities, short-term, location	Other current liabilities	Other current liabilities
Non-current
Operating lease liabilities, long-term	$ 176.5	$ 189.7
Financing lease liabilities, long-term	$ 21.3	$ 0.5

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Intangible Assets

Changes in the carrying amount of goodwill by operating and reportable segment are as follows (in millions):


	Golf Equipment		Apparel, Gear and Other		Total
Balance at December 31, 2025	$	531.5	$	88.3	$	619.8



Foreign currency translation and other	(0.3)		—		(0.3)
Balance at June 30, 2026	$	531.2	$	88.3	$	619.5

Intangible assets by major asset class are as follows (in millions, except useful life amounts):


	Indefinite-lived:		Amortizing:
	Trade names and Trademarks		Patents		Customer/ Distributor Relationships and Other		Total

Useful Life (Years)	NA		2-16		1-10


Gross as of December 31, 2025	$	218.8	$	31.9	$	24.2	$	274.9

Disposals	—		—		(0.1)		(0.1)

Gross as of June 30, 2026	$	218.8	$	31.9	$	24.1	$	274.8
Accumulated amortization	—		(31.6)		(21.2)		(52.8)

Foreign currency and other	—		—		(0.1)		(0.1)
Net book value, June 30, 2026	$	218.8	$	0.3	$	2.8	$	221.9

Gross as of December 31, 2025	$	218.8	$	31.9	$	24.2	$	274.9
Accumulated amortization	—		(31.6)		(20.8)		(52.4)
Foreign currency and other	—		—		(0.1)		(0.1)
Net book value, December 31, 2025	$	218.8	$	0.3	$	3.3	$	222.4

We recognized $0.2 million of amortization expense related to acquired intangible assets for each of the three months ended June 30, 2026 and 2025, which is primarily recorded in selling, general and administrative expenses in the condensed consolidated statements of operations. We recognized $0.4 million of amortization expense related to acquired intangible assets for each of the six months ended June 30, 2026 and 2025, which is primarily recorded in selling, general and administrative expenses in the condensed consolidated statements of operations.

As of June 30, 2026, intangible asset amortization expense is expected to be incurred for the periods presented as follows (in millions):


Remainder of 2026	$	0.5
2027	0.6
2028	0.3
2029	0.3


Total	$	1.7

Segment Information - Schedule of Information Utilized by Management to Evaluate its Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Net sales	$ 612.2	$ 600.4	$ 1,299.7	$ 1,230.0
Cost of sales	305.5	337.0	666.3	683.0
Gross profit	306.7	263.4	633.4	547.0
Selling, general and administrative expense	176.1	173.7	349.4	338.3
Research and development expense	15.8	15.4	31.0	31.3
Income (loss) from continuing operations, before income taxes	110.6	58.6	218.2	149.2
Income (loss) from operations	114.8	74.3	253.0	177.4
Interest income (expense), net	(4.6)	(15.3)	(10.4)	(30.2)
Other income (expense), net	1.4	(0.4)	4.3	2.0
Total other income (expense), net	(3.2)	(15.7)	(6.1)	(28.2)
Income (loss) from equity method investments	(1.0)	0.0	(28.7)	0.0
Depreciation and amortization	9.5	11.2	20.3	22.9
Operating segments
Segment Reporting [Line Items]
Income (loss) from operations	133.7	105.5	303.3	242.7
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Segment Reporting [Line Items]
Reconciling items	7.5	(0.9)	3.5	(2.2)
Reconciling items
Segment Reporting [Line Items]
Income (loss) from continuing operations, before income taxes	110.6	58.6	218.2	149.2
Reconciling items	(26.4)	(30.3)	(53.8)	(63.1)
Income (loss) from operations	114.8	74.3	253.0	177.4
Interest income (expense), net	(4.6)	(15.3)	(10.4)	(30.2)
Other income (expense), net	1.4	(0.4)	4.3	2.0
Total other income (expense), net	(3.2)	(15.7)	(6.1)	(28.2)
Income (loss) from equity method investments	(1.0)	0.0	(28.7)	0.0
Corporate Functions
Segment Reporting [Line Items]
Reconciling items	(18.9)	(31.2)	(50.3)	(65.3)
Golf Equipment
Segment Reporting [Line Items]
Net sales	430.3	411.8	916.5	855.7
Golf Equipment \| Operating segments
Segment Reporting [Line Items]
Net sales	430.3	411.8	916.5	855.7
Cost of sales	227.9	237.7	493.3	484.8
Gross profit	202.4	174.1	423.2	370.9
Selling, general and administrative expense	89.4	85.5	180.4	167.8
Research and development expense	12.7	12.4	24.9	25.1
Income (loss) from continuing operations, before income taxes	100.3	76.2	217.9	178.0
Depreciation and amortization	5.5	6.3	11.7	13.2
Apparel, Gear and Other
Segment Reporting [Line Items]
Net sales	181.9	188.6	383.2	374.3
Apparel, Gear and Other \| Operating segments
Segment Reporting [Line Items]
Net sales	181.9	188.6	383.2	374.3
Cost of sales	87.3	98.9	181.6	197.0
Gross profit	94.6	89.7	201.6	177.3
Selling, general and administrative expense	58.1	57.5	110.1	106.5
Research and development expense	3.1	2.9	6.1	6.1
Income (loss) from continuing operations, before income taxes	33.4	29.3	85.4	64.7
Depreciation and amortization	$ 4.0	$ 4.9	$ 8.6	$ 9.7

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Aug. 03, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
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
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CALY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
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		178,510,521
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000837465
Current Fiscal Year End Date	--12-31

Revenue Recognition - Schedule of Royalty Income by Operating Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Net sales	$ 612.2	$ 600.4	$ 1,299.7	$ 1,230.0
Apparel, Gear and Other
Segment Reporting [Line Items]
Net sales	181.9	188.6	383.2	374.3
Royalty \| Apparel, Gear and Other
Segment Reporting [Line Items]
Net sales	$ 6.1	$ 9.0	$ 15.1	$ 16.1

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We calculate our 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, we estimate our annual effective tax rate and apply that rate to our 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. We recorded an income tax provision of $34.8 million and $13.1 million for the three months ended June 30, 2026 and 2025, respectively. As a percentage of pre-tax income, our effective tax rate was 31.5% and 22.4% for the three months ended June 30, 2026 and 2025, respectively. For the three months ended June 30, 2026, the difference between the statutory tax rate and the effective tax rate is primarily due to the impacts of valuation allowances related to our investment in Topgolf, as well as our global mix of earnings. For the three months ended June 30, 2025, the difference between the statutory tax rate and the effective tax rate is primarily due to minimum taxes on our foreign earnings and discrete tax adjustments related to share-based compensation. We recorded an income tax provision of $67.5 million and $40.3 million for the six months ended June 30, 2026 and 2025, respectively. As a percentage of pre-tax income, our effective tax rate was 30.9% and 27.0% for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026, the difference between the statutory tax rate and the effective tax rate is primarily due to the impacts of valuation allowances related to our investment in Topgolf, as well as our global mix of earnings. For the six months ended June 30, 2025, the difference between the statutory tax rate and the effective tax rate is primarily due to minimum taxes on our foreign earnings and discrete tax adjustments related to share-based compensation. As of June 30, 2026, the gross liability for income taxes associated with uncertain tax positions was $18.8 million. Of this amount, $10.3 million would benefit our condensed consolidated financial statements and effective income tax rate if favorably settled. We recognize interest and penalties related to income tax matters in income tax expense.

- Definition

The entire disclosure for income tax.

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+ Details

Fair Value of Financial Instruments - Schedule of Valuation of Foreign Currency Exchange Contracts by Pricing Levels (Details) - Level 2 Fair Value - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 5.3	$ (0.1)
Foreign currency forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset position	6.0	0.7
Derivative liability position	$ (0.7)	$ (0.8)

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Disaggregation of Revenue [Line Items]
Short-term sales program incentive balance	$ 28.9		$ 28.9		$ 15.0
Sales return reserve	100.1		100.1		64.2
Sales return reserve cost recovery asset	42.2		42.2		$ 30.4
Gift Card Redemptions
Disaggregation of Revenue [Line Items]
Deferred revenue	0.7	$ 1.0	2.0	$ 2.4
Expired Loyalty Points
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 2.2		$ 8.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivatives and Hedging

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging


	Balance Sheet Location	Fair Value of Asset Derivatives
		June 30, 2026		December 31, 2025
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Other current assets	$	2.8	$	0.4




Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets	3.2		0.3



Total asset position		$	6.0	$	0.7


	Balance Sheet Location	Fair Value of Liability Derivatives
		June 30, 2026		December 31, 2025
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	$	0.2	$	0.4



Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	0.5		0.4




Total liability position		$	0.7	$	0.8

Our derivative instruments are subject to a master netting agreement with each respective counterparty bank and are therefore net settled at their maturity date. Although we have the legal right of offset under the master netting agreements, we have elected not to present these contracts on a net settlement amount basis, and therefore present these contracts on a gross basis on the accompanying condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025. Gains and losses related to our derivative instruments are presented as an adjustment to reconcile net income to net cash provided by or used in operating activities in the condensed consolidated statements of cash flows.

Derivative Designated as Cash Flow Hedging Instruments

We only use derivative instruments, including foreign currency forward contracts and interest rate swaps, to manage market risks related to foreign currency exposure across our global operations and exposure to variable‑rate debt.

As of June 30, 2026, the notional amount of our foreign currency forward contracts designated as cash flow hedges was $73.6 million. As of December 31, 2025, there were no outstanding cash flow hedges. During the fourth quarter of 2025, we closed out our interest rate swaps in connection with an amendment to the 2023 Term Loan B. As of June 30, 2026, we did not have any outstanding interest rate swap agreements.

The following tables summarize the net effect of all cash flow hedges for each of our derivative contracts on the condensed consolidated financial statements for the periods presented (in millions):


	Net Gain/(Loss) Recognized in Other Comprehensive Income
	Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	2026		2025		2026		2025
Foreign currency forward contracts	$	1.3	$	(5.2)	$	1.6	$	(7.8)
Interest rate swap contracts	—		(1.7)		—		(5.8)
Total	$	1.3	$	(6.9)	$	1.6	$	(13.6)


		Net Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings
		Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	Statement of Operations Location	2026		2025		2026		2025
Foreign currency forward contracts	Cost of sales	$	(0.5)	$	(1.5)	$	(1.0)	$	(0.6)
Interest rate swap contracts	Interest expense	—		1.0		—		2.2
Total		$	(0.5)	$	(0.5)	$	(1.0)	$	1.6

For the three months ended June 30, 2026 and 2025, $0.6 million and $1.5 million, respectively, of net gains related to the amortization of forward points were released from accumulated other comprehensive income and recognized in cost of sales. For the six months ended June 30, 2026 and 2025, $1.6 million and $0.7 million, respectively, of net gains related to the amortization of forward points were released from accumulated other comprehensive income and recognized in cost of sales.

Based on the current valuation of our foreign currency forward contracts, we expect to release net gains of $2.1 million related to our foreign currency forward contracts from accumulated other comprehensive income into earnings over the next 12 months.

Derivatives Not Designated as Hedging Instruments

As of June 30, 2026 and December 31, 2025, the notional amounts of our foreign currency forward contracts not designated as cash flow hedges were approximately $164.8 million and $88.4 million, respectively.


	Location of Net Gain/(Loss) Recognized in Income on Derivative Instruments	Net Gain/(Loss) Recognized in Income on Derivative Instruments
Derivatives not designated as hedging instruments		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
Foreign currency forward contracts	Other income (expense), net	$	2.9	$	(17.3)	$	6.7	$	(27.2)

During the three months ended June 30, 2026 and 2025, we recognized net foreign currency transaction losses of $2.5 million and gains of $13.4 million, respectively, in other income (expense), net. During the six months ended June 30, 2026 and 2025, we recognized net foreign currency transaction losses of $5.8 million and gains of $23.3 million, respectively, in other income (expense), net.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following table contains information utilized by our CODM to evaluate our operating segments for the periods presented below (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Golf Equipment:
Net sales	$	430.3	$	411.8	$	916.5	$	855.7
Less: Cost of sales	227.9		237.7		493.3		484.8
Gross profit	202.4		174.1		423.2		370.9

Less: Selling, general and administrative expense	89.4		85.5		180.4		167.8
Less: Research and development expense	12.7		12.4		24.9		25.1
Income before income taxes	$	100.3	$	76.2	$	217.9	$	178.0

Apparel, Gear and Other:
Net sales	$	181.9	$	188.6	$	383.2	$	374.3
Less: Cost of sales	87.3		98.9		181.6		197.0
Gross profit	94.6		89.7		201.6		177.3

Less: Selling, general and administrative expense	58.1		57.5		110.1		106.5
Less: Research and development expense	3.1		2.9		6.1		6.1
Income before income taxes	$	33.4	$	29.3	$	85.4	$	64.7

Segment income from continuing operations	$	133.7	$	105.5	$	303.3	$	242.7

Reconciling items:
Non-recurring items (1)	7.5		(0.9)		3.5		(2.2)
Corporate costs and expenses (2)	(26.4)		(30.3)		(53.8)		(63.1)
Total reconciling items:	(18.9)		(31.2)		(50.3)		(65.3)
Income (loss) from operations	114.8		74.3		253.0		177.4
Interest income (expense), net	(4.6)		(15.3)		(10.4)		(30.2)
Other income (expense), net	1.4		(0.4)		4.3		2.0
Total other income (expense), net	(3.2)		(15.7)		(6.1)		(28.2)
Income (loss) from equity method investments	(1.0)		—		(28.7)		—
Income (loss) from continuing operations, before income taxes	$	110.6	$	58.6	$	218.2	$	149.2

(1) Includes non-cash amortization of acquired intangible assets and non-recurring items primarily consisting of tariff refunds, costs related to a relocation to a new warehouse in the United Kingdom as a result of the sale of the Jack Wolfskin business, restructuring and reorganization charges relating to the Transformation Plan (see Note 18), and the write-off of software assets stemming from our separation from Topgolf.
(2) Corporate costs and expenses include corporate general and administrative expenses not utilized by management in determining segment profitability as well as adjustments for discontinued operations related to indirect costs that were previously allocated to a segment.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Depreciation and amortization:
Golf Equipment	$	5.5	$	6.3	$	11.7	$	13.2
Apparel, Gear and Other	4.0		4.9		8.6		9.7
Total depreciation and amortization	$	9.5	$	11.2	$	20.3	$	22.9

Schedule of Revenue and Long Lived Assets by Geographical Areas

Long-lived assets are based on location of domicile.


	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2026		2025		2026		2025
Net sales:
United States	$	414.7	$	401.1	$	863.5	$	817.2
Europe	64.8		64.6		148.0		128.9
Asia	90.3		91.9		193.9		198.7
Rest of World	42.4		42.8		94.3		85.2
Total net sales	$	612.2	$	600.4	$	1,299.7	$	1,230.0


	June 30, 2026		December 31, 2025
Long-lived assets
United States	$	129.0	$	136.4
Europe	9.6		4.2
Asia	11.2		12.9
Rest of World	5.9		6.0
Total long-lived assets	$	155.7	$	159.5

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

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+ Details

Discontinued Operations - Divestiture of the Jack Wolfskin Business (Narrative) (Details) $ in Millions	May 31, 2025 USD ($)
Disposal Group, Including Discontinued Operations [Line Items]
Loss on sale, before taxes	$ 26.2
Disposed of by Sale \| Jack Wolfskin
Disposal Group, Including Discontinued Operations [Line Items]
Percentage of equity interests sold	100.00%
Sale price	$ 290.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Segment Information - Schedule of Revenue and Long Lived Assets by Geographical Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Segment Reporting [Line Items]
Net sales	$ 612.2	$ 600.4	$ 1,299.7	$ 1,230.0
Total long-lived assets	155.7		155.7		$ 159.5
United States
Segment Reporting [Line Items]
Net sales	414.7	401.1	863.5	817.2
Total long-lived assets	129.0		129.0		136.4
Europe
Segment Reporting [Line Items]
Net sales	64.8	64.6	148.0	128.9
Total long-lived assets	9.6		9.6		4.2
Asia
Segment Reporting [Line Items]
Net sales	90.3	91.9	193.9	198.7
Total long-lived assets	11.2		11.2		12.9
Rest of World
Segment Reporting [Line Items]
Net sales	42.4	$ 42.8	94.3	$ 85.2
Total long-lived assets	$ 5.9		$ 5.9		$ 6.0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments & Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments & Contingencies

Legal Matters

We are subject to routine legal claims, proceedings, and investigations associated with the normal conduct of our business activities, including commercial disputes and employment matters. We also receive from time-to-time information claiming that products we sell 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, which could adversely affect our overall ability to protect our product designs and ultimately limit our future success in the marketplace. Additionally, we are occasionally subject to non-routine claims, proceedings, or investigations.

We regularly assess such matters to determine the degree of probability that we 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 our financial statements if it is probable we will incur a loss, and the amount of the loss can be reasonably estimated. Historically, the claims, proceedings, and investigations brought against us, individually and in the aggregate, have not had a material adverse effect on our condensed consolidated results of operations, cash flows or financial position. While it is not possible to predict the outcome of the pending actions, and, as with any litigation, it is possible that some of these actions could be decided unfavorably, we do not believe that the matters currently pending against us will have a material adverse effect on our business, condensed consolidated results of operations, cash flows or financial position.

Commitments

During the normal course of our business, we enter into agreements to purchase goods and services, including commitments for endorsement agreements with professional athletes and other endorsers, consulting and service agreements, intellectual property licensing agreements pursuant to which we are required to pay royalty fees, and signed retail lease agreements of which we have not taken possession as of period-end. The amounts listed below approximate the minimum future commitments we are obligated to pay under these agreements. The actual amounts paid under some of the agreements may be higher or lower than these amounts due to the variable nature of these obligations.

As of June 30, 2026, the minimum obligation we are required to pay under these agreements over the next five years and thereafter is as follows (in millions):


Remainder of 2026	$	40.5
2027	30.0
2028	12.9
2029	0.7
2030	2.1
Thereafter	2.1
Total	$	88.3

Other Contingent Contractual Obligations

During the normal course of business, we have made certain indemnities, commitments and guarantees under which we may be required to make payments in relation to certain transactions. The duration of these indemnities, commitments and guarantees varies, and in certain cases, may be indefinite and the majority of these indemnities, commitments and guarantees do not provide for any limitation on the maximum amount of future payments we could be obligated to make. Historically, costs incurred to settle claims related to indemnities have not been material to our financial position, results of operations or cash flows. In addition, we believe the likelihood is remote that payments under the commitments and guarantees described above will have a material effect on our condensed consolidated financial statements. The fair value of indemnities, commitments and guarantees that we issued during the three and six months ended, and as of June 30, 2026, were not material to our financial position, results of operations or cash flows.

We have also made certain indemnities under which we may be required to make payments in relation to divestitures of the Topgolf and Jack Wolfskin businesses. These include indemnities against (i) damages arising from certain ongoing litigation matters, (ii) certain exempted claims and (iii) certain pre-closing tax and other liabilities. As of June 30, 2026, we have $3.4 million of indemnities recorded related to the disposals of our businesses (see Note 3), which are reported in other long-term liabilities on the condensed consolidated balance sheet.

Tariff Refunds

On February 20, 2026, the U.S. Supreme Court ruled that certain tariffs previously imposed under the International Emergency Economic Powers Act (“IEEPA”) were unauthorized by statute. In March 2026, the U.S. Court of International Trade issued an order directing U.S. Customs and Border Protection (“CBP”) to begin processing refunds of certain IEEPA tariffs. As a result, we filed approximately $49.5 million of refund claims related to previously paid IEEPA tariffs, subject to applicable eligibility, filing, and recovery requirements. These claims were submitted through the CBP phased refund process.

We account for potential recoveries related to these tariff refund claims under the gain contingency guidance in ASC 450 and recognize refunds only when they are deemed realizable. The principal portion of the refunds will be reflected as a reduction of cost of sales for amounts related to goods already sold and any associated interest income received on the tariff refunds will be recognized within interest income (expense), net in the condensed consolidated statements of operations. During the second quarter of 2026, we recognized $10.8 million of tariff refunds attributable to approved Phase 1 claims that were determined to be realizable, which was recorded as a reduction of cost of sales. Any related interest was immaterial.

Subsequent to June 30, 2026, we received cash for $6.7 million of approved tariff refunds related to Phase 2 claims. As these refunds were not deemed realizable as of June 30, 2026, they will be recognized in the third quarter of 2026.

The ultimate amount, if any, and timing of additional recoveries remain subject to ongoing legal, regulatory, and administrative proceedings, and we will recognize additional tariff refunds when the applicable recognition criteria have been met.

Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to our operating and financing right of use (“ROU”) assets and lease liabilities is as follows (in millions):


	Balance Sheet Location	June 30, 2026		December 31, 2025
Assets
Operating lease ROU assets, net	Operating lease ROU assets, net	$	161.0	$	173.5
Financing lease ROU assets, net	Other assets, net	$	22.6	$	0.7

Liabilities
Current
Operating lease liabilities, short-term	Operating lease liabilities, short-term	$	23.1	$	22.9
Financing lease liabilities, short-term	Other current liabilities	$	1.7	$	0.3

Non-current
Operating lease liabilities, long-term	Operating lease liabilities, long-term	$	176.5	$	189.7
Financing lease liabilities, long-term	Other long-term liabilities	$	21.3	$	0.5

Schedule of Components of Lease Expense and Other Information Related to Leases

The components of lease expense, excluding the impact from the lease termination incentive, included in our condensed consolidated statement of operations for the periods presented below are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Operating lease costs	$	8.7	$	8.6	$	17.7	$	16.7
Financing lease costs:
Amortization of ROU assets	1.0		—		1.1		0.1
Interest on lease liabilities	0.7		—		0.7		—
Total financing lease costs	1.7		—		1.8		0.1
Variable lease costs	0.3		0.3		0.7		0.6
Total lease costs	$	10.7	$	8.9	$	20.2	$	17.4

Other information related to leases (in millions):


	Six Months Ended June 30,
Supplemental Cash Flows Information	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.3	$	15.7
Operating cash flows from finance leases	$	0.7	$	—
Financing cash flows from finance leases	$	0.7	$	0.1

Lease liabilities arising from new ROU assets:
Operating leases	$	8.6	$	25.2
Financing leases	$	22.9	$	0.2


	June 30, 2026		December 31, 2025
Weighted-average remaining lease term (years):
Operating leases	8.8		9.4
Financing leases	9.3		3.4

Weighted-average discount rate:
Operating leases	6.8	%	6.8	%
Financing leases	7.2	%	7.1	%

Schedule of Future Minimum Operating Lease Obligations

As of June 30, 2026, our future minimum lease obligations were as follows (in millions):


	Operating Leases		Financing Leases		Total
Remainder of 2026	$	17.8	$	1.7	$	19.5
2027	34.7		3.3		38.0
2028	33.2		3.3		36.5
2029	32.2		3.3		35.5
2030	27.8		3.3		31.1
Thereafter	128.9		16.9		145.8
Total future lease payments	274.6		31.8		306.4
Less: imputed interest	75.0		8.8		83.8
Total	$	199.6	$	23.0	$	222.6

Schedule of Future Minimum Financing Lease Obligations

As of June 30, 2026, our future minimum lease obligations were as follows (in millions):


	Operating Leases		Financing Leases		Total
Remainder of 2026	$	17.8	$	1.7	$	19.5
2027	34.7		3.3		38.0
2028	33.2		3.3		36.5
2029	32.2		3.3		35.5
2030	27.8		3.3		31.1
Thereafter	128.9		16.9		145.8
Total future lease payments	274.6		31.8		306.4
Less: imputed interest	75.0		8.8		83.8
Total	$	199.6	$	23.0	$	222.6

Revenue Recognition

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

We recognize revenue from the sale of our products. The following table presents our net sales disaggregated by operating and reportable segment and major category (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Sales by Operating and Reportable Segment and Major Category
Golf Equipment:
Golf clubs	$	316.5	$	312.7	$	697.1	$	652.7
Golf balls	113.8		99.1		219.4		203.0
Total Golf Equipment	$	430.3	$	411.8	$	916.5	$	855.7

Apparel, Gear and Other:
Apparel	$	105.2	$	104.3	$	207.9	$	202.3
Gear, accessories & other	76.7		84.3		175.3		172.0
Total Apparel, Gear and Other	$	181.9	$	188.6	$	383.2	$	374.3

Total Consolidated	$	612.2	$	600.4	$	1,299.7	$	1,230.0

Net sales

We sell our Golf Equipment products and Apparel, Gear and Other products in the United States and internationally, with our principal international regions being Europe and Asia. Golf Equipment product sales are generally higher than Apparel, Gear and Other sales in all regions.

The following table summarizes sales by geographical region (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Sales by Major Geographic Region:
United States	$	414.7	$	401.1	$	863.5	$	817.2
Europe	64.8		64.6		148.0		128.9
Asia	90.3		91.9		193.9		198.7
Rest of World	42.4		42.8		94.3		85.2
Total Consolidated	$	612.2	$	600.4	$	1,299.7	$	1,230.0

Licensing and royalties

We have licensing and royalty income from licensing agreements for apparel and soft good products in our Apparel, Gear and Other operating segment. The following table summarizes the licensing and royalty income recognized in net sales for the periods presented (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Apparel, Gear and Other	$	6.1	$	9.0	$	15.1	$	16.1

Deferred revenue

Our short-term deferred revenue balance consists primarily of revenue from the sale of gift cards and accrued customer loyalty points.

The following table provides a reconciliation of activity related to our short-term deferred revenue balance for the periods presented (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Beginning Balance (1)	$	15.5	$	16.2	$	21.5	$	15.9
Deferral of revenue	8.0		5.9		14.7		11.4
Revenue recognized	(7.6)		(5.7)		(20.3)		(11.0)
Foreign currency translation and other	—		(0.1)		—		—
Ending Balance	$	15.9	$	16.3	$	15.9	$	16.3
(1) Beginning balances for the three months ended June 30, 2026 and 2025 represent ending balances as of March 31, 2026 and 2025, respectively. Beginning balances for the six months ended June 30, 2026 and 2025 represent ending balances as of December 31, 2025 and 2024, respectively.

Deferred revenue recognized during the three months ended June 30, 2026 and 2025 from gift card redemptions that were included in the deferred revenue balance at the end of the prior year period was $0.7 million and $1.0 million, respectively. Deferred revenue recognized during the six months ended June 30, 2026 and 2025 from gift card redemptions that were included in the deferred revenue balance at the end of the prior year period was $2.0 million and $2.4 million, respectively. The increase in revenue recognized during the three and six months ended June 30, 2026, includes the impact of the transition to a new customer loyalty program related to our TravisMathew business. We have recognized $2.2 million and $8.0 million, respectively, of deferred revenue related to expired loyalty points during the three and six months ended June 30, 2026.

Variable Consideration

We recognize revenue based on the amount of consideration we expect to receive from customers for the sale of our products adjusted for estimates of variable consideration related to sales returns, discounts and allowances, sales promotions and sales programs, and price concessions. These estimates are based on the amounts earned or expected to be claimed by customers.

As of June 30, 2026 and December 31, 2025, the balances for our short-term sales incentive program included in accounts receivable, net on our condensed consolidated balance sheets, were $28.9 million and $15.0 million, respectively.

As of June 30, 2026 and December 31, 2025, the balances for our sales return reserve included in accounts receivable, net on our condensed consolidated balance sheets, were $100.1 million and $64.2 million, respectively. For these periods, the related cost recovery balances of inventory associated with the sales return liability included in other current assets on our condensed consolidated balance sheets, were $42.2 million and $30.4 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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+ Details

Earnings (Loss) Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.3	2.7	0.4	3.0

Fair Value of Financial Instruments - Schedule of Fair Value Relating to Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt, net of unamortized debt issuance costs	$ 7.7	$ 1,416.0
Level 2 Fair Value \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible notes	0.0	258.3
Level 2 Fair Value \| Carrying Value \| 2023 Term Loan B \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt, net of unamortized debt issuance costs	0.0	1,165.6
Level 2 Fair Value \| Carrying Value \| Equipment Notes \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	4.2	6.5
Level 2 Fair Value \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible notes	0.0	257.8
Level 2 Fair Value \| Fair Value \| 2023 Term Loan B \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt, net of unamortized debt issuance costs	0.0	1,170.7
Level 2 Fair Value \| Fair Value \| Equipment Notes \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	4.1	6.2
2025 Japan ABL Credit Facility \| Level 2 Fair Value \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	43.1	44.7
2025 Japan ABL Credit Facility \| Level 2 Fair Value \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit facilities	$ 43.1	$ 44.7

Derivatives and Hedging - Schedule of Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Derivative Instruments, Gain (Loss) [Line Items]
Net Gain/(Loss) Recognized in Income on Derivative Instruments	$ 2.9	$ (17.3)	$ 6.7	$ (27.2)
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Net Gain/(Loss) Recognized in Other Comprehensive Income	1.3	(6.9)	1.6	(13.6)
Net Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings	(0.5)	(0.5)	(1.0)	1.6
Foreign currency forward contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Net Gain/(Loss) Recognized in Other Comprehensive Income	1.3	(5.2)	1.6	(7.8)
Net Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings	(0.5)	(1.5)	(1.0)	(0.6)
Interest rate swap contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Net Gain/(Loss) Recognized in Other Comprehensive Income	0.0	(1.7)	0.0	(5.8)
Net Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings	$ 0.0	$ 1.0	$ 0.0	$ 2.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

+ Details

Leases - Narrative (Details) ¥ in Millions, $ in Millions	3 Months Ended	6 Months Ended
Leases - Narrative (Details) ¥ in Millions, $ in Millions	Mar. 31, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 JPY (¥)
Leases [Abstract]
Cash incentive	$ 12.0			¥ 1,800.0
Gain on lease termination incentive	$ 12.0	$ 0.0	$ 12.0

Goodwill and Intangible Assets - Schedule of Intangible Assets by Major Asset Class (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Intangible Asset, Finite-Lived, after Accumulated Amortization [Abstract]
Accumulated amortization	$ (52.8)	$ (52.4)
Net book value	3.1	3.6
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Gross	274.8	274.9
Gross disposals	(0.1)
Accumulated amortization	(52.8)	(52.4)
Foreign currency and other	(0.1)	(0.1)
Net book value	221.9	222.4
Trade names and Trademarks
Indefinite-lived Intangible Assets [Line Items]
Gross	218.8	218.8
Gross disposals	0.0
Foreign currency and other	0.0	0.0
Net book value	218.8	218.8
Patents
Intangible Asset, Finite-Lived, after Accumulated Amortization [Abstract]
Gross	31.9	31.9
Gross disposals	0.0
Accumulated amortization	(31.6)	(31.6)
Foreign currency and other	0.0	0.0
Net book value	0.3	0.3
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Accumulated amortization	$ (31.6)	(31.6)
Patents \| Minimum
Intangible Asset, Finite-Lived [Line Items]
Useful life	2 years
Patents \| Maximum
Intangible Asset, Finite-Lived [Line Items]
Useful life	16 years
Customer/ Distributor Relationships and Other
Intangible Asset, Finite-Lived, after Accumulated Amortization [Abstract]
Gross	$ 24.1	24.2
Gross disposals	(0.1)
Accumulated amortization	(21.2)	(20.8)
Foreign currency and other	(0.1)	(0.1)
Net book value	2.8	3.3
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Accumulated amortization	$ (21.2)	$ (20.8)
Customer/ Distributor Relationships and Other \| Minimum
Intangible Asset, Finite-Lived [Line Items]
Useful life	1 year
Customer/ Distributor Relationships and Other \| Maximum
Intangible Asset, Finite-Lived [Line Items]
Useful life	10 years

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 18.3	$ 15.7
Operating cash flows from finance leases	0.7	0.0
Financing cash flows from finance leases	0.7	0.1
Lease liabilities arising from new ROU assets:
Operating leases	8.6	25.2
Financing leases	$ 22.9	$ 0.2
Weighted-average remaining lease term (years):
Operating leases	8 years 9 months 18 days		9 years 4 months 24 days
Financing leases	9 years 3 months 18 days		3 years 4 months 24 days
Weighted-average discount rate:
Operating leases	6.80%		6.80%
Financing leases	7.20%		7.10%

Leases - Schedule of Future Minimum Lease Obligations (Details) $ in Millions	Jun. 30, 2026 USD ($)
Operating Leases
Remainder of 2026	$ 17.8
2027	34.7
2028	33.2
2029	32.2
2030	27.8
Thereafter	128.9
Total future lease payments	274.6
Less: imputed interest	75.0
Total	199.6
Financing Leases
Remainder of 2026	1.7
2027	3.3
2028	3.3
2029	3.3
2030	3.3
Thereafter	16.9
Total future lease payments	31.8
Less: imputed interest	8.8
Total	23.0
Total
Remainder of 2026	19.5
2027	38.0
2028	36.5
2029	35.5
2030	31.1
Thereafter	145.8
Total future lease payments	306.4
Less: imputed interest	83.8
Total	$ 222.6

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 278.1	$ 903.2
Restricted cash	0.2	0.0
Accounts receivable, less allowance of $5.0 million and $4.9 million, respectively	315.7	123.2
Inventories	518.2	625.3
Prepaid expenses	39.1	44.1
Other current assets	96.1	69.8
Current assets of discontinued operations (Note 3)	0.0	4,170.0
Total current assets	1,247.4	5,935.6
Property, plant and equipment, net	155.7	159.5
Operating lease right-of-use assets, net	161.0	173.5
Trade names and trademarks	218.8	218.8
Net book value	3.1	3.6
Goodwill	619.5	619.8
Equity method investments (Note 9)	213.9	0.0
Deferred tax assets, long-term	72.9	109.2
Other assets, net	90.6	66.0
Total assets	2,782.9	7,286.0
Current liabilities:
Accounts payable and accrued expenses	236.2	296.2
Accrued employee compensation and benefits	66.2	84.9
Long-term debt, current portion	3.6	765.3
Asset-based credit facilities	43.1	44.7
Operating lease liabilities, short-term	23.1	22.9
Deferred revenue	15.9	21.5
Other current liabilities	21.8	18.5
Current liabilities of discontinued operations (Note 3)	0.0	3,113.5
Total current liabilities	409.9	4,367.5
Long-term debt, net	4.1	650.7
Operating lease liabilities, long-term	176.5	189.7
Other long-term liabilities	30.0	9.2
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at both June 30, 2026 and December 31, 2025	0.0	0.0
Common stock, $0.01 par value, 360.0 million shares authorized, and 186.2 million shares issued at both June 30, 2026 and December 31, 2025	1.9	1.9
Additional paid-in capital	3,036.8	3,037.5
Retained earnings (accumulated deficit)	(741.2)	(909.5)
Accumulated other comprehensive loss	(34.2)	(27.6)
Less: Common stock held in treasury, at cost, 7.1 million and 2.3 million shares as of June 30, 2026 and December 31, 2025, respectively	(100.9)	(33.4)
Total shareholders’ equity	2,162.4	2,068.9
Total liabilities and shareholders’ equity	$ 2,782.9	$ 7,286.0

Financing Arrangements - 2025 Japan ABL Credit Facility & 2023 ABL Credit Facility (Narrative) (Details) - 6 months ended Jun. 30, 2026 - Revolving Credit Facility - Line of Credit ¥ in Millions, $ in Millions	USD ($)	JPY (¥)
2023 ABL Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 485.0
Debt covenant, fixed charge coverage ratio	1.0
Fixed charges coverage ratio covenant reference borrowing capacity, percent	10.00%
2025 Japan ABL Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 55.4	¥ 9,000.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Intangible Assets (Details) $ in Millions	Jun. 30, 2026 USD ($)
Amortization expense related to intangible assets:
Remainder of 2026	$ 0.5
2027	0.6
2028	0.3
2029	0.3
Total	$ 1.7

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 612.2	$ 600.4	$ 1,299.7	$ 1,230.0
Cost of sales	305.5	337.0	666.3	683.0
Gross profit	306.7	263.4	633.4	547.0
Operating expenses:
Selling, general and administrative expense	176.1	173.7	349.4	338.3
Research and development expense	15.8	15.4	31.0	31.3
Total operating expenses	191.9	189.1	380.4	369.6
Income (loss) from operations	114.8	74.3	253.0	177.4
Interest income (expense), net	(4.6)	(15.3)	(10.4)	(30.2)
Other income (expense), net	1.4	(0.4)	4.3	2.0
Total other income (expense), net	(3.2)	(15.7)	(6.1)	(28.2)
Income (loss) from equity method investments	(1.0)	0.0	(28.7)	0.0
Income (loss) from continuing operations, before income taxes	110.6	58.6	218.2	149.2
Income tax provision (benefit)	34.8	13.1	67.5	40.3
Net income (loss) from continuing operations	75.8	45.5	150.7	108.9
Income (loss) from discontinued operations, net of tax	(0.6)	(25.2)	17.6	(86.5)
Net income (loss)	$ 75.2	$ 20.3	$ 168.3	$ 22.4
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.42	$ 0.25	$ 0.83	$ 0.59
Discontinued operations (in dollars per share)	0	(0.14)	0.10	(0.47)
Net earnings (loss) (in dollars per share)	0.42	0.11	0.93	0.12
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.40	0.24	0.78	0.56
Discontinued operations (in dollars per share)	0	(0.12)	0.09	(0.42)
Net earnings (loss) (in dollars per share)	$ 0.40	$ 0.11	$ 0.87	$ 0.13
Weighted-average common shares outstanding:
Basic (in shares)	179.7	183.8	181.7	183.6
Diluted (in shares)	190.1	199.8	196.3	199.0

Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

The following table summarizes the computation of basic and diluted earnings per common share for the periods presented (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Earnings (loss) per common share—basic
Numerator:
Net income (loss) from continuing operations	$	75.8	$	45.5	$	150.7	$	108.9
Income (loss) from discontinued operations, net of tax	(0.6)		(25.2)		17.6		(86.5)
Net income (loss)	$	75.2	$	20.3	$	168.3	$	22.4
Denominator:
Weighted-average common shares outstanding	179.7		183.8		181.7		183.6
Basic earnings (loss) per common share:
Continuing operations	$	0.42	$	0.25	$	0.83	$	0.59
Discontinued operations	$	—	$	(0.14)	$	0.10	$	(0.47)
Net earnings (loss) per common share	$	0.42	$	0.11	$	0.93	$	0.12
Earnings (loss) per common share—diluted
Numerator:
Net income (loss) from continuing operations	$	75.8	$	45.5	$	150.7	$	108.9
Add: Interest expense attributable to Convertible Notes, net of tax	0.6		1.7		2.2		3.3
Income (loss) from continuing operations and assumed conversions	76.4		47.2		152.9		112.2
Income (loss) from discontinued operations, net of tax	(0.6)		(25.2)		17.6		(86.5)
Net income (loss) attributable to earnings per common share	$	75.8	$	22.0	$	170.5	$	25.7
Denominator:
Weighted-average common shares outstanding—basic	179.7		183.8		181.7		183.6
Incremental shares for assumed conversion of Convertible Notes	5.0		14.7		9.8		14.7
Outstanding options, restricted stock units and performance share units	5.4		1.3		4.8		0.7
Weighted-average common shares outstanding—diluted	190.1		199.8		196.3		199.0
Diluted earnings (loss) per common share:
Continuing operations	$	0.40	$	0.24	$	0.78	$	0.56
Discontinued operations	$	—	$	(0.12)	$	0.09	$	(0.42)
Net diluted earnings (loss) per common share	$	0.40	$	0.11	$	0.87	$	0.13

Anti-Dilutive Securities

For the three and six months ended June 30, 2026, approximately 0.3 million and 0.4 million securities outstanding, respectively, comprised of stock options, were excluded from the calculation of diluted earnings per common share as they would be anti-dilutive.

For the three and six months ended June 30, 2025, approximately 2.7 million and 3.0 million securities outstanding, respectively, comprised of stock options and restricted stock units were excluded from the calculation of diluted earnings per common share as they would be anti-dilutive.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 34.8	$ 13.1	$ 67.5	$ 40.3
Effective tax rate	31.50%	22.40%	30.90%	27.00%
Liability for income taxes associated with uncertain tax positions	$ 18.8		$ 18.8
Net amount of unrecognized tax benefit related to uncertain tax positions that would impact, if recognized, effective income tax rate	$ 10.3		$ 10.3

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-3A

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Subparagraph (a)
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-Topic 740
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-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Share-Based Compensation - Schedule of Amounts Recognized for Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	$ 6.0	$ 5.4	$ 12.4	$ 11.3
Income tax benefit	(1.4)	(1.3)	(3.0)	(2.7)
Share-based compensation expense, after tax	4.6	4.1	9.4	8.6
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	0.5	0.5	1.0	0.8
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	0.1	0.1	0.2	0.2
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense, before tax	$ 5.4	$ 4.8	$ 11.2	$ 10.3

Leases

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

Operating leases and financing leases

Supplemental balance sheet information related to our operating and financing right of use (“ROU”) assets and lease liabilities is as follows (in millions):


	Balance Sheet Location	June 30, 2026		December 31, 2025
Assets
Operating lease ROU assets, net	Operating lease ROU assets, net	$	161.0	$	173.5
Financing lease ROU assets, net	Other assets, net	$	22.6	$	0.7

Liabilities
Current
Operating lease liabilities, short-term	Operating lease liabilities, short-term	$	23.1	$	22.9
Financing lease liabilities, short-term	Other current liabilities	$	1.7	$	0.3

Non-current
Operating lease liabilities, long-term	Operating lease liabilities, long-term	$	176.5	$	189.7
Financing lease liabilities, long-term	Other long-term liabilities	$	21.3	$	0.5

Lease Termination Incentive

During the first quarter of 2025, we signed an agreement with the landlord of our Japanese subsidiary’s headquarters to terminate a lease prior to its original end date in exchange for a cash incentive of 1,800.0 million Yen (approximately $12.0 million). As a result, we recognized a $12.0 million gain on lease termination, which was recorded within selling, general and administrative expenses in our condensed consolidated statement of operations.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Operating lease costs	$	8.7	$	8.6	$	17.7	$	16.7
Financing lease costs:
Amortization of ROU assets	1.0		—		1.1		0.1
Interest on lease liabilities	0.7		—		0.7		—
Total financing lease costs	1.7		—		1.8		0.1
Variable lease costs	0.3		0.3		0.7		0.6
Total lease costs	$	10.7	$	8.9	$	20.2	$	17.4

Other information related to leases (in millions):


	Six Months Ended June 30,
Supplemental Cash Flows Information	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.3	$	15.7
Operating cash flows from finance leases	$	0.7	$	—
Financing cash flows from finance leases	$	0.7	$	0.1

Lease liabilities arising from new ROU assets:
Operating leases	$	8.6	$	25.2
Financing leases	$	22.9	$	0.2


	June 30, 2026		December 31, 2025
Weighted-average remaining lease term (years):
Operating leases	8.8		9.4
Financing leases	9.3		3.4

Weighted-average discount rate:
Operating leases	6.8	%	6.8	%
Financing leases	7.2	%	7.1	%

As of June 30, 2026, our future minimum lease obligations were as follows (in millions):


	Operating Leases		Financing Leases		Total
Remainder of 2026	$	17.8	$	1.7	$	19.5
2027	34.7		3.3		38.0
2028	33.2		3.3		36.5
2029	32.2		3.3		35.5
2030	27.8		3.3		31.1
Thereafter	128.9		16.9		145.8
Total future lease payments	274.6		31.8		306.4
Less: imputed interest	75.0		8.8		83.8
Total	$	199.6	$	23.0	$	222.6

Leases

Operating leases and financing leases

Supplemental balance sheet information related to our operating and financing right of use (“ROU”) assets and lease liabilities is as follows (in millions):


	Balance Sheet Location	June 30, 2026		December 31, 2025
Assets
Operating lease ROU assets, net	Operating lease ROU assets, net	$	161.0	$	173.5
Financing lease ROU assets, net	Other assets, net	$	22.6	$	0.7

Liabilities
Current
Operating lease liabilities, short-term	Operating lease liabilities, short-term	$	23.1	$	22.9
Financing lease liabilities, short-term	Other current liabilities	$	1.7	$	0.3

Non-current
Operating lease liabilities, long-term	Operating lease liabilities, long-term	$	176.5	$	189.7
Financing lease liabilities, long-term	Other long-term liabilities	$	21.3	$	0.5

Lease Termination Incentive


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Operating lease costs	$	8.7	$	8.6	$	17.7	$	16.7
Financing lease costs:
Amortization of ROU assets	1.0		—		1.1		0.1
Interest on lease liabilities	0.7		—		0.7		—
Total financing lease costs	1.7		—		1.8		0.1
Variable lease costs	0.3		0.3		0.7		0.6
Total lease costs	$	10.7	$	8.9	$	20.2	$	17.4

Other information related to leases (in millions):


	Six Months Ended June 30,
Supplemental Cash Flows Information	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.3	$	15.7
Operating cash flows from finance leases	$	0.7	$	—
Financing cash flows from finance leases	$	0.7	$	0.1

Lease liabilities arising from new ROU assets:
Operating leases	$	8.6	$	25.2
Financing leases	$	22.9	$	0.2


	June 30, 2026		December 31, 2025
Weighted-average remaining lease term (years):
Operating leases	8.8		9.4
Financing leases	9.3		3.4

Weighted-average discount rate:
Operating leases	6.8	%	6.8	%
Financing leases	7.2	%	7.1	%

As of June 30, 2026, our future minimum lease obligations were as follows (in millions):


	Operating Leases		Financing Leases		Total
Remainder of 2026	$	17.8	$	1.7	$	19.5
2027	34.7		3.3		38.0
2028	33.2		3.3		36.5
2029	32.2		3.3		35.5
2030	27.8		3.3		31.1
Thereafter	128.9		16.9		145.8
Total future lease payments	274.6		31.8		306.4
Less: imputed interest	75.0		8.8		83.8
Total	$	199.6	$	23.0	$	222.6

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value Measurements

The carrying amounts of our cash and cash equivalents (which include money market funds), accounts receivable, accounts payable, accrued expenses, and certain other short‑term assets and liabilities approximate fair value due to their short‑term nature.

Money Market Funds

As of June 30, 2026 and December 31, 2025, the carrying value of our money market funds was $199.5 million and $791.7 million, respectively, which is included in cash and cash equivalents on our condensed consolidated balance sheets. During the three months ended June 30, 2026 and June 30, 2025, we recognized $2.1 million and $2.9 million, respectively, of dividend income on our money market funds. During the six months ended June 30, 2026 and June 30, 2025, we recognized $6.7 million and $5.4 million, respectively, of dividend income on our money market funds. Dividend income is included in other income (expense), net in the condensed consolidated statements of operations.

Foreign Currency Forward Contracts


	Level 2 Fair Value
June 30, 2026
Foreign currency forward contracts—asset position	$	6.0
Foreign currency forward contracts—liability position	(0.7)


Total	$	5.3
December 31, 2025
Foreign currency forward contracts—asset position	$	0.7
Foreign currency forward contracts—liability position	(0.8)


Total	$	(0.1)

There were no transfers of financial instruments between the levels of the fair value hierarchy during the three and six months ended June 30, 2026 or 2025.

Disclosures about the Fair Value of Financial Instruments


		June 30, 2026				December 31, 2025
	Measurement Level	Carrying Value		Fair Value		Carrying Value		Fair Value

2025 Japan ABL Credit Facility	Level 2	$	43.1	$	43.1	$	44.7	$	44.7
2023 Term Loan B	Level 2	$	—	$	—	$	1,165.6	$	1,170.7
Convertible Notes	Level 2	$	—	$	—	$	258.3	$	257.8
Equipment Notes	Level 2	$	4.2	$	4.1	$	6.5	$	6.2

Non-recurring Fair Value Measurements

We measure certain long-lived assets, goodwill, non-amortizing intangible assets and investments at fair value on a non-recurring basis, at least annually or more frequently if impairment indicators are present. Our cost-basis investments are also subject to fair value remeasurements from observable market transactions. For more detail, see Note 9.

As part of our initiative to rationalize lower margin business, we performed a review of the TravisMathew business including certain warehouse equipment and retail locations. As part of this review, it was decided to exit certain retail locations which did not meet our profitability thresholds, resulting in total impairment charges of $1.8 million recorded during the three and six months ended June 30, 2026. This assessment was based on the estimated future cash flows generated over the remaining lease terms and expected asset lives. As a result, we recognized impairment losses to reduce the carrying values of these assets to their fair values which are categorized within Level 3 of the fair value hierarchy. We recognized $1.4 million of these impairment charges within selling, general and administrative expense and $0.4 million was recognized in cost of sales in our condensed consolidated statement of operations.

We did not recognize any impairments related to continuing operations during the three and six months ended June 30, 2025.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Financing Arrangements - 2023 Term Loan (Narrative) (Details) - USD ($) $ in Millions				3 Months Ended	6 Months Ended
	May 29, 2026	Jan. 02, 2026	Dec. 01, 2025	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Line of Credit Facility [Line Items]
Loss from debt extinguishment					$ 9.8	$ 0.0
2023 Term Loan B \| Secured Debt
Line of Credit Facility [Line Items]
Contingent repayment of debt	$ 162.5	$ 1,000.0	$ 500.0	$ 500.0		$ 500.0
Loss from debt extinguishment	$ 2.3	15.0
2023 Term Loan B \| Secured Debt \| Continuing Operations
Line of Credit Facility [Line Items]
Unamortized debt issuance expense		7.5
2023 Term Loan B \| Secured Debt \| Discontinued Operations
Line of Credit Facility [Line Items]
Unamortized debt issuance expense		$ 7.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Arrangement Activity

We granted the following awards under our stock compensation plans during the periods presented (in millions, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted(1)	Weighted-average grant date fair value per share

Restricted stock units	0.3	$	15.71	0.2	$	6.48	0.9	$	14.34	2.4	$	6.20

Performance based restricted share unit awards(2)	—	$	—	—	$	—	0.7	$	21.27	1.7	$	8.57
Total	0.3			0.2			1.6			4.1
(1) Shares granted during fiscal year 2025 include awards granted to employees of our discontinued operations which will continue to vest in accordance with the original terms of the respective awards.
(2) Weighted-average grant date fair value per share determined using Monte-Carlo valuation method.

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Share-based compensation expense by award-type, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Restricted stock units	$	3.0	$	2.3	$	6.0	$	4.4

Performance based restricted share unit awards	3.0		3.1		6.4		6.9

Share-based compensation expense, before tax	6.0		5.4		12.4		11.3
Income tax benefit	(1.4)		(1.3)		(3.0)		(2.7)
Share-based compensation expense, after tax	$	4.6	$	4.1	$	9.4	$	8.6

Share-based compensation, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of sales	$	0.5	$	0.5	$	1.0	$	0.8
Selling, general and administrative expense	5.4		4.8		11.2		10.3
Research and development expense	0.1		0.1		0.2		0.2
Share-based compensation expense, before tax	6.0		5.4		12.4		11.3
Income tax benefit	(1.4)		(1.3)		(3.0)		(2.7)
Share-based compensation expense, after tax	$	4.6	$	4.1	$	9.4	$	8.6

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill by operating and reportable segment are as follows (in millions):


	Golf Equipment		Apparel, Gear and Other		Total
Balance at December 31, 2025	$	531.5	$	88.3	$	619.8



Foreign currency translation and other	(0.3)		—		(0.3)
Balance at June 30, 2026	$	531.2	$	88.3	$	619.5

Schedule of Intangible Assets by Major Asset Class

Intangible assets by major asset class are as follows (in millions, except useful life amounts):


	Indefinite-lived:		Amortizing:
	Trade names and Trademarks		Patents		Customer/ Distributor Relationships and Other		Total

Useful Life (Years)	NA		2-16		1-10


Gross as of December 31, 2025	$	218.8	$	31.9	$	24.2	$	274.9

Disposals	—		—		(0.1)		(0.1)

Gross as of June 30, 2026	$	218.8	$	31.9	$	24.1	$	274.8
Accumulated amortization	—		(31.6)		(21.2)		(52.8)

Foreign currency and other	—		—		(0.1)		(0.1)
Net book value, June 30, 2026	$	218.8	$	0.3	$	2.8	$	221.9

Gross as of December 31, 2025	$	218.8	$	31.9	$	24.2	$	274.9
Accumulated amortization	—		(31.6)		(20.8)		(52.4)
Foreign currency and other	—		—		(0.1)		(0.1)
Net book value, December 31, 2025	$	218.8	$	0.3	$	3.3	$	222.4

Schedule of Amortization Expense Related to Intangible Assets

As of June 30, 2026, intangible asset amortization expense is expected to be incurred for the periods presented as follows (in millions):


Remainder of 2026	$	0.5
2027	0.6
2028	0.3
2029	0.3


Total	$	1.7

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Commitments & Contingencies - Schedule of Future Purchase Commitments (Details) $ in Millions	Jun. 30, 2026 USD ($)
Unrecorded Unconditional Purchase Obligation, Including Lease Not yet Commenced, Fiscal Year Maturity [Abstract]
Remainder of 2026	$ 40.5
2027	30.0
2028	12.9
2029	0.7
2030	2.1
Thereafter	2.1
Total	$ 88.3

Financing Arrangements - Schedule of Borrowings, Availability, Interest Rate and Liquidity for Short-Term Credit Facilities (Details) - Revolving Credit Facility - Line of Credit $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($)
2023 ABL Credit Facility
Line of Credit Facility [Line Items]
Average availability	$ 409.0
Weighted-average interest rate	7.70%
2025 Japan ABL Credit Facility
Line of Credit Facility [Line Items]
Average availability	$ 12.9
Weighted-average interest rate	1.48%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Fair Value, Option, Quantitative Disclosures [Line Items]
Money market funds	$ 199.5		$ 199.5		$ 791.7
Dividend income	2.1	$ 2.9	6.7	$ 5.4
Impairment charges	1.8	$ 0.0	1.8	$ 0.0
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Fair Value, Option, Quantitative Disclosures [Line Items]
Impairment charges	0.4		0.4
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Fair Value, Option, Quantitative Disclosures [Line Items]
Impairment charges	$ 1.4		$ 1.4

Discontinued Operations

6 Months Ended

Jun. 30, 2026

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Divestiture of the Topgolf Business

Effective January 1, 2026, we completed the sale of a 60% equity interest in the Topgolf and Toptracer businesses (“Topgolf”) to private equity funds managed by Leonard Green & Partners, L.P. based upon an equity value of approximately $1,100.0 million. In connection with the sale and related financing transactions, we received net proceeds of $820.1 million, net of working capital adjustments and cash retained. In the fourth quarter of 2025, we recorded an estimated loss on sale before income taxes of $143.1 million. During the first quarter of 2026, we recorded net working capital adjustments of $2.5 million, resulting in a total loss on sale of $140.6 million after these adjustments.

The results of operations and cash flows of Topgolf are classified as discontinued operations for all periods presented and our retained ownership interest in Topgolf is accounted for under the equity method of accounting. During the second quarter of 2026, our ownership interest decreased from 40.0% to 39.3% following the sale by Topgolf of additional dilutive units, which decreased our non-controlling interest. In addition to our 39.3% equity interest, we have continuing involvement with Topgolf through ongoing commercial agreements (see Note 9) and a transition services agreement.

For the three and six months ended June 30, 2026, we recognized $1.1 million and $2.3 million, respectively, associated with amounts billed under the transition services agreement with Topgolf, which were recognized in other income (expense), net on the condensed consolidated statement of operations.

Due to the amendment of our 2023 Term Loan B, which required a mandatory prepayment of $500.0 million in connection with the completion of the sale of Topgolf, we attributed $9.6 million and $19.1 million of related interest expense to discontinued operations for the three and six months ended June 30, 2025.

Divestiture of the Jack Wolfskin Business

On May 31, 2025, pursuant to the Sale & Purchase Agreement dated April 10, 2025, we completed the sale of 100% of the equity interests in Callaway Germany Holdco GmbH, which operated the Jack Wolfskin business, for $290.0 million, net of cash retained, and recorded a $26.2 million loss upon completion of the sale. The operating results of Jack Wolfskin are presented as discontinued operations for all periods presented.

Results of Discontinued Operations


	Three Months Ended June 30, 2026						Six Months Ended June 30, 2026
	Topgolf		Jack Wolfskin		Total		Topgolf		Jack Wolfskin		Total








Selling, general and administrative expense	$	0.1	$	0.5	$	0.6	$	(2.6)	$	0.5	$	(2.1)




Total costs and expenses	0.1		0.5		0.6		(2.6)		0.5		(2.1)
Income (loss) from discontinued operations	(0.1)		(0.5)		(0.6)		2.6		(0.5)		2.1

Other income (expense), net	—		—		—		(7.5)		—		(7.5)
Income (loss) from discontinued operations before income taxes	(0.1)		(0.5)		(0.6)		(4.9)		(0.5)		(5.4)
Income tax provision (benefit)	—		—		—		(23.0)		—		(23.0)
Net income (loss) from discontinued operations	$	(0.1)	$	(0.5)	$	(0.6)	$	18.1	$	(0.5)	$	17.6


	Three Months Ended June 30, 2025						Six Months Ended June 30, 2025
	Topgolf		Jack Wolfskin		Total		Topgolf		Jack Wolfskin		Total
Net revenues:
Products	$	3.8	$	25.9	$	29.7	$	7.4	$	95.4	$	102.8
Services	481.4		—		481.4		871.5		—		871.5
Total net revenues	485.2		25.9		511.1		878.9		95.4		974.3
Costs and expenses:
Cost of products	2.0		16.4		18.4		4.2		54.5		58.7
Cost of services, excluding depreciation and amortization	50.3		—		50.3		89.4		—		89.4
Other venue expense	336.3		—		336.3		657.5		—		657.5
Selling, general and administrative expense	46.6		21.6		68.2		96.9		64.6		161.5
Research and development expense	3.6		0.8		4.4		7.6		2.2		9.8

Venue pre-opening costs	1.8		—		1.8		2.4		—		2.4
Total costs and expenses	440.6		38.8		479.4		858.0		121.3		979.3
Income (loss) from discontinued operations	44.6		(12.9)		31.7		20.9		(25.9)		(5.0)
Interest income (expense), net	(43.4)		—		(43.4)		(86.5)		(0.1)		(86.6)
Other income (expense), net	—		(12.7)		(12.7)		(0.3)		(11.6)		(11.9)
Income (loss) from discontinued operations before income taxes	1.2		(25.6)		(24.4)		(65.9)		(37.6)		(103.5)
Income tax provision (benefit)	6.0		(5.2)		0.8		(12.8)		(4.2)		(17.0)
Net income (loss) from discontinued operations	$	(4.8)	$	(20.4)	$	(25.2)	$	(53.1)	$	(33.4)	$	(86.5)

Assets and Liabilities of Discontinued Operations


As of December 31, 2025
	Topgolf
Current assets of discontinued operations

Accounts receivable	$	4.2
Inventories	37.1
Other current assets	117.2
Total current assets of discontinued operations	158.5
Long-term assets of discontinued operations
Property, plant and equipment, net	2,072.5
Operating lease right-of-use assets, net	1,066.4
Trade names and trademarks	607.9
Other intangible assets, net	46.5
Other assets, net	218.2
Total long-term assets of discontinued operations	4,011.5
Total assets of discontinued operations	$	4,170.0
Current liabilities of discontinued operations
Accounts payable and accrued expenses	$	117.2
Accrued employee compensation and benefits	56.1

Operating lease liabilities, short-term	59.8
Construction advances	29.1
Deferred revenue	59.7
Other current liabilities	3.1
Total current liabilities of discontinued operations	325.0
Long-term liabilities of discontinued operations
Long-term debt, net	42.8
Operating lease liabilities, long-term	1,102.5
Deemed landlord financing obligations	1,300.7
Other long-term liabilities	342.5
Total long-term liabilities of discontinued operations	2,788.5
Total liabilities of discontinued operations	$	3,113.5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Statement of Cash Flows [Abstract]
Cash paid for income taxes, net, discontinued operations	$ 5.8
Cash paid for Interest and fees, discontinued operations	64.7
Accrued capital expenditure, discontinued operations	31.9
Financed additions of capital expenditure, discontinued operations	$ 2.4

Restructuring (Details) - Transformation Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	$ 10.0		$ 10.0
Severance costs	0.6	$ 0.4	1.4	$ 1.1
Restructuring and related cost, incurred cost	5.7
Employee Severance
Restructuring Cost and Reserve [Line Items]
Cost incurred to date	$ 0.6		$ 0.6		$ 0.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Cash flows from operating activities:

Net income (loss) from continuing operations

$ 150.7

$ 108.9

Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities:

Depreciation and amortization

20.3

22.9

Loss from equity method investments

28.7

0.0

Amortization of debt discount and issuance costs

1.4

3.0

Impairment losses

1.8

0.0

Gain on lease termination incentive

0.0

(12.0)

Deferred taxes, net

47.9

12.0

Share-based compensation

12.4

11.3

Loss from debt extinguishment

9.8

0.0

Loss (gain) on asset disposals, net

0.6

0.1

Unrealized net losses (gains) on hedging instruments and foreign currency

2.0

(6.8)

Gain on investment from golf-related ventures

(4.6)

0.0

Other

0.0

0.3

Change in assets and liabilities

Accounts receivable, net

(194.9)

(181.2)

Inventories

101.3

75.2

Other assets

(12.1)

(20.6)

Accounts payable and accrued expenses

(70.5)

(44.5)

Deferred revenue

(5.6)

0.4

Accrued employee compensation and benefits

(18.6)

12.4

Lease assets and liabilities, net

0.5

1.1

Income taxes receivable/payable, net

8.3

(4.3)

Other liabilities

1.1

3.5

Net cash provided by (used in) operating activities - continuing operations

80.5

(18.3)

Net cash provided by (used in) operating activities - discontinued operations

0.0

60.0

Net cash provided by (used in) operating activities

80.5

41.7

Cash flows from investing activities:

Capital expenditures

(18.4)

(16.1)

Investment in golf-related ventures

(0.6)

Acquisition of intangible assets

0.0

(0.7)

Distributions from equity method investments

5.6

0.0

Proceeds from sale of business line, net of cash retained

820.1

286.0

Net cash provided by (used in) investing activities - continuing operations

806.7

268.6

Net cash provided by (used in) investing activities - discontinued operations

0.0

(128.3)

Net cash provided by (used in) investing activities

806.7

140.3

Cash flows from financing activities:

Repayments of long-term debt

(1,426.3)

(9.2)

Proceeds (repayments) on credit facilities, net

0.0

19.9

Debt issuance costs

0.0

(0.4)

Repayments of financing leases

(0.7)

(0.1)

Acquisition of treasury stock

(84.5)

(3.3)

Net cash provided by (used in) financing activities - continuing operations

(1,511.5)

6.9

Net cash provided by (used in) financing activities - discontinued operations

0.0

36.9

Net cash provided by (used in) financing activities

(1,511.5)

43.8

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(0.9)

7.7

Net increase (decrease) in cash, cash equivalents and restricted cash

(625.2)

233.5

Cash, cash equivalents and restricted cash at beginning of period

903.5

450.3

Cash, cash equivalents and restricted cash at end of period

278.3

683.8

Less: restricted cash of continuing and discontinued operations at end of period

(0.2)

(0.3)

Cash and cash equivalents of continuing operations at end of period

278.1

683.5

Supplemental disclosures:

Cash paid for income taxes, net

^[1]

9.5

18.1

Cash paid for interest and fees

^[1]

8.9

91.9

Non-cash investing and financing activities:

Issuance of treasury stock and common stock for compensatory stock awards released from restriction

16.9

19.5

Accrued capital expenditures

0.1

32.6

Financed additions of capital expenditures

0.0

3.2

Distribution receivable from equity method investment

$ 0.9

$ 0.0

[1]

(1) For 2026, Supplemental disclosures and Non‑cash investing and financing activities relate solely to continuing operations. For 2025, Supplemental disclosures and Non‑cash investing and financing activities include amounts related to both continuing and discontinued operations. For 2025, $5.8 million of cash paid for income taxes, net, $64.7 million of cash paid for interest and fees, $31.9 million of accrued capital expenditures, and $2.4 million of financed additions of capital expenditures were attributable to discontinued operations.

Selected Financial Data - Schedule of Selected Financial Statement Information (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Inventories:
Finished goods	$ 415.7	$ 517.4
Work in process	0.6	0.7
Raw materials	101.9	107.2
Total inventories	518.2	625.3
Other current assets:
Credit card and other receivables	27.1	24.0
Sales return reserve cost recovery asset	42.2	30.4
Taxes receivable	20.8	14.7
Other	6.0	0.7
Total other current assets	96.1	69.8
Property, plant and equipment, net:
Land	7.3	7.2
Buildings and leasehold improvements	156.8	154.5
Machinery and equipment	160.3	159.4
Furniture, computer hardware and equipment	127.1	127.6
Internal-use software	34.6	39.8
Production molds	11.3	11.4
Construction-in-process	15.4	6.6
Total property, plant, and equipment, gross	512.8	506.5
Less: Accumulated depreciation	357.1	347.0
Total property, plant, and equipment, net	155.7	159.5
Accounts payable and accrued expenses:
Accounts payable	84.2	109.6
Accrued expenses	106.3	89.9
Accrued inventory	45.7	96.7
Total accounts payable and accrued expenses	$ 236.2	$ 296.2
Minimum \| Buildings and leasehold improvements
Property, plant and equipment, net:
Estimated Useful Life	3 years
Minimum \| Machinery and equipment
Property, plant and equipment, net:
Estimated Useful Life	3 years
Minimum \| Furniture, computer hardware and equipment
Property, plant and equipment, net:
Estimated Useful Life	3 years
Minimum \| Internal-use software
Property, plant and equipment, net:
Estimated Useful Life	3 years
Minimum \| Production molds
Property, plant and equipment, net:
Estimated Useful Life	2 years
Maximum \| Buildings and leasehold improvements
Property, plant and equipment, net:
Estimated Useful Life	30 years
Maximum \| Machinery and equipment
Property, plant and equipment, net:
Estimated Useful Life	15 years
Maximum \| Furniture, computer hardware and equipment
Property, plant and equipment, net:
Estimated Useful Life	5 years
Maximum \| Internal-use software
Property, plant and equipment, net:
Estimated Useful Life	5 years
Maximum \| Production molds
Property, plant and equipment, net:
Estimated Useful Life	5 years

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 5.0	$ 4.9
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	3,000,000.0	3,000,000.0
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	360,000,000.0	360,000,000.0
Common stock, issued (in shares)	186,200,000	186,200,000
Treasury stock (in shares)	7,100,000	2,300,000

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Basis of Presentation	We have prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America (“GAAP”). We have condensed or omitted certain information and disclosures that are normally included in our annual consolidated financial statements which are prepared in accordance with GAAP. In the opinion of management, these condensed consolidated financial statements include all 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. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on February 27, 2026. Interim operating results are not indicative of operating results that may be expected for the year ending December 31, 2026, or any other future periods. We translate the financial statements of our foreign subsidiaries using end-of-period exchange rates for assets and liabilities and average exchange rates during each reporting period for results of operations. All intercompany balances and transactions have been eliminated during consolidation. Unless otherwise specified, disclosures in these condensed consolidated financial statements reflect continuing operations only. Prior period financial information related to discontinued operations has been reclassified and separately presented in the condensed consolidated financial statements and accompanying notes to conform to the current period presentation. See Note 3 for further information regarding our discontinued operations.
Consolidation	We have prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America (“GAAP”). We have condensed or omitted certain information and disclosures that are normally included in our annual consolidated financial statements which are prepared in accordance with GAAP. In the opinion of management, these condensed consolidated financial statements include all 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. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on February 27, 2026. Interim operating results are not indicative of operating results that may be expected for the year ending December 31, 2026, or any other future periods. We translate the financial statements of our foreign subsidiaries using end-of-period exchange rates for assets and liabilities and average exchange rates during each reporting period for results of operations. All intercompany balances and transactions have been eliminated during consolidation. Unless otherwise specified, disclosures in these condensed consolidated financial statements reflect continuing operations only. Prior period financial information related to discontinued operations has been reclassified and separately presented in the condensed consolidated financial statements and accompanying notes to conform to the current period presentation. See Note 3 for further information regarding our discontinued operations.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances at that time. We evaluate our estimates on an ongoing basis to ensure that these estimates appropriately reflect changes in our business or as new information becomes available. Actual results may differ from our estimates.
Recently Issued Accounting Standards and Recently Adopted Accounting Standards	Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires disclosure, on an annual and interim basis, of specific information about cost and expense related items within the notes to our condensed consolidated financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on either a prospective or retrospective basis with early adoption permitted. We are in the process of evaluating the impact that ASU 2024-03 will have on our condensed consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU No. 2025-06, “Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”), which clarifies the difference between expensed costs and capitalized costs by removing all references to software development project stages so that the guidance is neutral to different software development methods, including methods that entities may use to develop software in the future. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. We are evaluating the impact of ASU 2025-06 and do not expect adoption of the standard to have a material impact on our consolidated financial statements and related disclosures. Recently Adopted Accounting Standards In May 2026, the FASB issued ASU No. 2026-02, “Environmental Credits and Environmental Credit Obligations (Topic 818)” (“ASU 2026-02”), which provides specific authoritative guidance for environmental credits and environmental credit obligations. ASU 2026-02 is effective for fiscal years beginning after December 15, 2027, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. We elected to early adopt this ASU effective for our quarter ended June 30, 2026. The adoption of this ASU did not have a material impact on our consolidated financial statements or related disclosures for the period ended June 30, 2026.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

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+ Details

Restructuring	6 Months Ended
Restructuring	Jun. 30, 2026
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Our restructuring costs primarily consist of severance and termination benefits, asset disposals, write-offs and impairments and other exit and disposal costs. Severance costs generally include severance payments, outplacement services, health insurance coverage and legal costs. Transformation Plan In connection with the September 2024 announcement of our intended separation of the Topgolf business, we initiated a plan which is intended to optimize organizational efficiencies and decrease operating costs under the separate business structures that are anticipated after the separation (the “Transformation Plan”). For the three and six months ended June 30, 2026, costs incurred under the Transformation Plan were primarily related to employee termination and severance costs. We expect to incur up to $10.0 million in costs related to the Transformation Plan, which we expect to be substantially complete by the end of 2026. For the three months ended June 30, 2026 and 2025, we incurred $0.6 million and $0.4 million, respectively, of employee termination and severance costs under the Transformation Plan. For the six months ended June 30, 2026 and 2025, we incurred $1.4 million and $1.1 million, respectively, of employee termination and severance costs under the Transformation Plan. Amounts payable for employee termination and severance included in accrued employee compensation and benefits on the condensed consolidated balance sheets at June 30, 2026 and December 31, 2025, totaled $0.6 million and $0.2 million, respectively. As of June 30, 2026, we incurred cumulative costs of $5.7 million related to the Transformation Plan.

Selected Financial Data

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Selected Financial Data

Selected financial data as of the dates presented below is as follows (in millions, except useful life data):


		June 30, 2026		December 31, 2025
Inventories:
Finished goods		$	415.7	$	517.4
Work in process		0.6		0.7
Raw materials		101.9		107.2
Total inventories		$	518.2	$	625.3

		June 30, 2026		December 31, 2025
Other current assets:
Credit card and other receivables		$	27.1	$	24.0
Sales return reserve cost recovery asset		42.2		30.4
Taxes receivable		20.8		14.7
Other		6.0		0.7
Total other current assets		$	96.1	$	69.8

	Estimated Useful Life	June 30, 2026		December 31, 2025
Property, plant and equipment, net:
Land		$	7.3	$	7.2
Buildings and leasehold improvements	3 - 30 years	156.8		154.5
Machinery and equipment	3 - 15 years	160.3		159.4
Furniture, computer hardware and equipment	3 - 5 years	127.1		127.6
Internal-use software	3 - 5 years	34.6		39.8
Production molds	2 - 5 years	11.3		11.4
Construction-in-process		15.4		6.6
Total property, plant, and equipment, gross		512.8		506.5
Less: Accumulated depreciation		357.1		347.0
Total property, plant, and equipment, net		$	155.7	$	159.5

For the three months ended June 30, 2026 and 2025, we recorded total depreciation expense of $9.3 million and $11.0 million, respectively, in our condensed consolidated statements of operations. For the six months ended June 30, 2026 and 2025, we recorded total depreciation expense of $19.9 million and $22.5 million, respectively, in our condensed consolidated statements of operations. Depreciation expense is recognized in cost of sales, research and development expense, and selling, general and administrative expense on the condensed consolidated statement of operations, consistent with the use of the underlying asset.


(in millions)	June 30, 2026		December 31, 2025
Accounts payable and accrued expenses:
Accounts payable	$	84.2	$	109.6
Accrued expenses	106.3		89.9
Accrued inventory	45.7		96.7
Total accounts payable and accrued expenses	$	236.2	$	296.2

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 75.2	$ 20.3	$ 168.3	$ 22.4
Other comprehensive income (loss):
Change in derivative instruments	1.8	(6.4)	2.6	(15.2)
Cumulative translation adjustments recognized from the sales of business lines	0.0	13.8	(3.6)	13.8
Foreign currency translation adjustments	(1.7)	27.2	(4.8)	45.4
Comprehensive income (loss), before income tax	75.3	54.9	162.5	66.4
Income tax provision (benefit) on derivative instruments	0.6	0.4	0.8	(3.3)
Comprehensive income (loss)	$ 74.7	$ 54.5	$ 161.7	$ 69.7

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Share-Based Compensation - Schedule of Share-Based Payment Arrangement Activity (Details) - $ / shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	0.3	0.2	1.6	4.1
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	0.3	0.2	0.9	2.4
Weighted-average grant date fair value per share (in dollars per share)	$ 15.71	$ 6.48	$ 14.34	$ 6.20
Performance based restricted share unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	0.0	0.0	0.7	1.7
Weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0	$ 21.27	$ 8.57

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivatives and Hedging - Derivatives Designated as Hedging Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Derivative [Line Items]
Forward points amortized on derivatives	$ 0.6	$ 1.5	$ 1.6	$ 0.7
Foreign currency forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative instrument, notional amount	73.6		73.6		$ 0.0
Foreign currency forward contracts \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative [Line Items]
Interest rate cash flow hedge gain to be reclassified during next 12 months, net	$ 2.1		$ 2.1

Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table summarizes the computation of basic and diluted earnings per common share for the periods presented (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Earnings (loss) per common share—basic
Numerator:
Net income (loss) from continuing operations	$	75.8	$	45.5	$	150.7	$	108.9
Income (loss) from discontinued operations, net of tax	(0.6)		(25.2)		17.6		(86.5)
Net income (loss)	$	75.2	$	20.3	$	168.3	$	22.4
Denominator:
Weighted-average common shares outstanding	179.7		183.8		181.7		183.6
Basic earnings (loss) per common share:
Continuing operations	$	0.42	$	0.25	$	0.83	$	0.59
Discontinued operations	$	—	$	(0.14)	$	0.10	$	(0.47)
Net earnings (loss) per common share	$	0.42	$	0.11	$	0.93	$	0.12
Earnings (loss) per common share—diluted
Numerator:
Net income (loss) from continuing operations	$	75.8	$	45.5	$	150.7	$	108.9
Add: Interest expense attributable to Convertible Notes, net of tax	0.6		1.7		2.2		3.3
Income (loss) from continuing operations and assumed conversions	76.4		47.2		152.9		112.2
Income (loss) from discontinued operations, net of tax	(0.6)		(25.2)		17.6		(86.5)
Net income (loss) attributable to earnings per common share	$	75.8	$	22.0	$	170.5	$	25.7
Denominator:
Weighted-average common shares outstanding—basic	179.7		183.8		181.7		183.6
Incremental shares for assumed conversion of Convertible Notes	5.0		14.7		9.8		14.7
Outstanding options, restricted stock units and performance share units	5.4		1.3		4.8		0.7
Weighted-average common shares outstanding—diluted	190.1		199.8		196.3		199.0
Diluted earnings (loss) per common share:
Continuing operations	$	0.40	$	0.24	$	0.78	$	0.56
Discontinued operations	$	—	$	(0.12)	$	0.09	$	(0.42)
Net diluted earnings (loss) per common share	$	0.40	$	0.11	$	0.87	$	0.13

Investments - Schedule of Financial Information for Equity Method Investee (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Schedule of Equity Method Investments [Line Items]
Net revenues	$ 612.2		$ 600.4		$ 1,299.7	$ 1,230.0
Depreciation and amortization expense	9.5		11.2		20.3	22.9
Income (loss) from operations	75.8		45.5		150.7	108.9
Interest expense	4.6		15.3		10.4	30.2
Net income (loss)	75.2	$ 93.1	$ 20.3	$ 2.1	168.3	$ 22.4
Topgolf
Schedule of Equity Method Investments [Line Items]
Net revenues	467.2				858.9
Depreciation and amortization expense	52.3				105.2
Income (loss) from operations	43.3				22.3
Interest expense	47.0				94.8
Net income (loss)	$ (3.9)				$ (73.1)

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Financing Arrangements - Schedule of Long-Term Debt Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Short-term debt	$ 43.1	$ 44.7
Long-term debt, gross	7.7	1,434.0
Unamortized Debt Issuance Costs	0.0	18.0
Long-Term Debt - Current	3.6	765.3
Long-Term Debt - Non-current	4.1	650.7
Total aggregate amount of maturities, net of unamortized debt issuance costs	7.7	1,416.0
Equipment Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 4.2	6.5
Equipment Notes \| Minimum
Debt Instrument [Line Items]
Interest Rate	2.36%
Equipment Notes \| Maximum
Debt Instrument [Line Items]
Interest Rate	5.93%
Financed Tenant Improvements
Debt Instrument [Line Items]
Long-term debt, gross	$ 3.5	3.6
Financed Tenant Improvements \| Minimum
Debt Instrument [Line Items]
Interest Rate	8.00%
Financed Tenant Improvements \| Maximum
Debt Instrument [Line Items]
Interest Rate	10.00%
Balance Sheet Location [Axis]: us-gaap:LinesOfCreditCurrent
Debt Instrument [Line Items]
Short-term debt	$ 43.1	44.7
Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Debt Instrument [Line Items]
Short-term debt	0.8	1.4
Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseCurrent
Debt Instrument [Line Items]
Short-term debt	$ 1.2	1.2
2023 Term Loan B \| Secured Debt
Debt Instrument [Line Items]
Interest Rate	6.40%
Long-term debt, gross	$ 0.0	1,165.6
Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Interest Rate	2.75%
Long-term debt, gross	$ 0.0	258.3
Short Term Unamortized Debt Issuance Costs
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs	$ 2.0	2.6
Revolving Credit Facility \| Line of Credit \| 2023 ABL Credit Facility
Debt Instrument [Line Items]
Interest Rate	5.14%
Short-term debt	$ 0.0	0.0
Revolving Credit Facility \| Line of Credit \| 2025 Japan ABL Credit Facility
Debt Instrument [Line Items]
Interest Rate	1.87%
Short-term debt	$ 43.1	$ 44.7

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Intangible Asset, Goodwill and Other [Abstract]
Aggregate amortization expense on intangible assets	$ 0.2	$ 0.2	$ 0.4	$ 0.4

- Definition

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

+ References

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-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
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+ Details

Derivatives and Hedging - Derivatives Not Designated as Hedging Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Derivative [Line Items]
Foreign currency gains (losses)	$ (2.5)	$ 13.4	$ (5.8)	$ 23.3
Foreign currency forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative instrument, notional amount	$ 164.8		$ 164.8		$ 88.4

Share-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

Share-Based Awards Granted

We granted the following awards under our stock compensation plans during the periods presented (in millions, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted(1)	Weighted-average grant date fair value per share

Restricted stock units	0.3	$	15.71	0.2	$	6.48	0.9	$	14.34	2.4	$	6.20

Performance based restricted share unit awards(2)	—	$	—	—	$	—	0.7	$	21.27	1.7	$	8.57
Total	0.3			0.2			1.6			4.1
(1) Shares granted during fiscal year 2025 include awards granted to employees of our discontinued operations which will continue to vest in accordance with the original terms of the respective awards.
(2) Weighted-average grant date fair value per share determined using Monte-Carlo valuation method.

Share-Based Compensation Expense

Share-based compensation expense by award-type, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Restricted stock units	$	3.0	$	2.3	$	6.0	$	4.4

Performance based restricted share unit awards	3.0		3.1		6.4		6.9

Share-based compensation expense, before tax	6.0		5.4		12.4		11.3
Income tax benefit	(1.4)		(1.3)		(3.0)		(2.7)
Share-based compensation expense, after tax	$	4.6	$	4.1	$	9.4	$	8.6

Share-based compensation, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of sales	$	0.5	$	0.5	$	1.0	$	0.8
Selling, general and administrative expense	5.4		4.8		11.2		10.3
Research and development expense	0.1		0.1		0.2		0.2
Share-based compensation expense, before tax	6.0		5.4		12.4		11.3
Income tax benefit	(1.4)		(1.3)		(3.0)		(2.7)
Share-based compensation expense, after tax	$	4.6	$	4.1	$	9.4	$	8.6