Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-37935
Entity Registrant Name	Acushnet Holdings Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-2644353
Entity Address, Address Line One	333 Bridge Street
Entity Address, City or Town	Fairhaven,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02719
City Area Code	800
Local Phone Number	225-8500
Title of 12(b) Security	Common Stock - $0.001 par value per share
Trading Symbol	GOLF
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		74,294,130
Entity Central Index Key	0001672013
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and restricted cash ($12,578 and $8,514 attributable to the variable interest entity ("VIE"))	$ 111,029	$ 34,184
Accounts receivable, net	271,643	215,428
Inventories ($5,897 and $11,958 attributable to the VIE)	363,785	398,368
Prepaid and other assets	92,283	94,838
Total current assets	838,740	742,818
Property, plant and equipment, net ($10,870 and $11,374 attributable to the VIE)	223,305	231,575
Goodwill ($32,312 and $32,312 attributable to the VIE)	213,112	214,056
Intangible assets, net	476,990	480,794
Deferred income taxes	72,811	70,541
Other assets ($2,479 and $2,517 attributable to the VIE)	72,761	77,265
Total assets	1,897,719	1,817,049
Current liabilities
Short-term debt	180,619	54,123
Current portion of long-term debt	17,500	17,500
Accounts payable ($3,533 and $8,360 attributable to the VIE)	76,851	102,335
Accrued taxes	34,292	36,032
Accrued compensation and benefits ($2,362 and $3,542 attributable to the VIE)	64,862	72,465
Accrued expenses and other liabilities ($3,577 and $4,468 attributable to the VIE)	91,252	76,663
Total current liabilities	465,376	359,118
Long-term debt	322,427	330,701
Deferred income taxes	4,447	4,837
Accrued pension and other postretirement benefits	122,702	118,852
Other noncurrent liabilities ($5,109 and $5,202 attributable to the VIE)	49,480	51,908
Total liabilities	964,432	865,416
Commitments and contingencies (Note 14)
Redeemable noncontrolling interest	316	807
Shareholders' equity
Common stock, $0.001 par value, 500,000,000 shares authorized; 75,655,646 and 75,619,587 shares issued	76	76
Additional paid-in capital	916,097	910,507
Accumulated other comprehensive loss, net of tax	(111,573)	(112,028)
Retained earnings	138,733	151,039
Treasury stock, at cost; 1,671,754 shares and 1,183,966 shares (including 299,894 and 56,000 of accrued share repurchases) (Note 9)	(45,106)	(31,154)
Total equity attributable to Acushnet Holdings Corp.	898,227	918,440
Noncontrolling interests	34,744	32,386
Total shareholders' equity	932,971	950,826
Total liabilities, redeemable noncontrolling interest and shareholders' equity	$ 1,897,719	$ 1,817,049

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Cash and restricted cash	$ 111,029	$ 34,184
Inventories	363,785	398,368
Property, plant and equipment, net	223,305	231,575
Goodwill	213,112	214,056
Other assets	72,761	77,265
Accounts payable	76,851	102,335
Accrued compensation and benefits	64,862	72,465
Accrued expenses and other liabilities	91,252	76,663
Other noncurrent liabilities	$ 49,480	$ 51,908
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	75,655,646	75,619,587
Treasury stock, at cost (in shares)	1,671,754	1,183,966
Accrued share repurchase (in shares)	299,894	56,000
VIE
Cash and restricted cash	$ 12,578	$ 8,514
Inventories	5,897	11,958
Property, plant and equipment, net	10,870	11,374
Goodwill	32,312	32,312
Other assets	2,479	2,517
Accounts payable	3,533	8,360
Accrued compensation and benefits	2,362	3,542
Accrued expenses and other liabilities	3,577	4,468
Other noncurrent liabilities	$ 5,109	$ 5,202

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 300,002	$ 462,218	$ 708,743	$ 895,920
Cost of goods sold	143,545	216,175	351,331	427,720
Gross profit	156,457	246,043	357,412	468,200
Operating expenses:
Selling, general and administrative	130,535	170,223	283,258	325,649
Research and development	11,132	12,920	24,352	25,671
Intangible amortization	1,955	1,765	3,911	3,518
Restructuring charges	1,104	0	12,732	0
Income from operations	11,731	61,135	33,159	113,362
Interest expense, net	4,402	5,213	8,525	10,096
Other expense (income), net	4,174	781	4,864	(189)
Income before income taxes	3,155	55,141	19,770	103,455
Income tax (benefit) expense	(598)	16,239	7,042	28,514
Net income	3,753	38,902	12,728	74,941
Less: Net income attributable to noncontrolling interests	(1,440)	(414)	(1,538)	(1,527)
Net income attributable to Acushnet Holdings Corp.	$ 2,313	$ 38,488	$ 11,190	$ 73,414
Net income per common share attributable to Acushnet Holdings Corp.:
Basic (in dollars per share)	$ 0.03	$ 0.51	$ 0.15	$ 0.97
Diluted (in dollars per share)	$ 0.03	$ 0.51	$ 0.15	$ 0.97
Weighted average number of common shares:
Basic (in shares)	74,252,981	75,618,717	74,394,967	75,811,780
Diluted (in shares)	74,875,219	75,858,114	74,983,411	76,060,003

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 3,753	$ 38,902	$ 12,728	$ 74,941
Other comprehensive income (loss):
Foreign currency translation adjustments	18,043	(4,217)	(4,740)	(375)
Cash flow derivative instruments
Unrealized holding gains (losses) arising during period	(5,794)	(1,406)	1,608	(47)
Reclassification adjustments included in net income	881	(2,827)	(843)	(4,276)
Tax benefit (expense)	1,663	1,026	(185)	956
Cash flow derivative instruments, net	(3,250)	(3,207)	580	(3,367)
Pension and other postretirement benefits
Pension and other postretirement benefits adjustments	4,376	1,684	6,066	1,481
Tax expense	(1,083)	(404)	(1,451)	(347)
Pension and other postretirement benefits adjustments, net	3,293	1,280	4,615	1,134
Total other comprehensive income (loss)	18,086	(6,144)	455	(2,608)
Comprehensive income	21,839	32,758	13,183	72,333
Less: Comprehensive income attributable to noncontrolling interests	(1,537)	(414)	(1,655)	(1,527)
Comprehensive income attributable to Acushnet Holdings Corp.	$ 20,302	$ 32,344	$ 11,528	$ 70,806

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income	$ 12,728	$ 74,941
Adjustments to reconcile net income to cash (used in) provided by operating activities
Depreciation and amortization	20,571	19,596
Unrealized foreign exchange losses	2,184	730
Amortization of debt issuance costs	425	738
Share-based compensation	6,403	5,386
(Gain) loss on disposals of property, plant and equipment	(53)	2
Deferred income taxes	(4,244)	17,355
Changes in operating assets and liabilities
Accounts receivable	(56,640)	(120,056)
Inventories	30,066	37,420
Accounts payable	(23,187)	9,675
Accrued taxes	(1,626)	(15,230)
Other assets and liabilities	12,534	9,454
Cash flows (used in) provided by operating activities	(839)	40,011
Cash flows from investing activities
Additions to property, plant and equipment	(10,355)	(10,595)
Cash flows used in investing activities	(10,355)	(10,595)
Cash flows from financing activities
Proceeds from short-term borrowings, net	127,616	41,939
Repayments of term loan facility	(8,750)	(14,063)
Repayments of delayed draw term loan A facility	0	(3,750)
Purchases of common stock	(6,976)	(6,178)
Debt issuance costs	(14)	0
Dividends paid on common stock	(23,034)	(22,433)
Dividends paid to noncontrolling interests	0	(1,853)
Payment of employee restricted stock tax withholdings	(496)	(10,924)
Cash flows provided by (used in) financing activities	88,346	(17,262)
Effect of foreign exchange rate changes on cash and restricted cash	(307)	(202)
Net increase in cash and restricted cash	76,845	11,952
Cash and restricted cash, beginning of year	34,184	31,014
Cash and restricted cash, end of period	111,029	42,966
Supplemental information
Non-cash additions to property, plant and equipment	1,014	830
Non-cash additions to right-of-use assets obtained in exchange for operating lease obligations	3,237	3,005
Non-cash additions to right-of-use assets obtained in exchange for finance lease obligations	427	0
Dividend equivalents rights ("DERs") declared not paid	477	387
Share repurchase liability (Note 9)	$ 6,976	$ 6,178

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	Total Shareholders' Equity Attributable to Acushnet Holdings Corp.	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss, Net of Tax	Retained Earnings	Treasury Stock	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018			74,760
Beginning balance at Dec. 31, 2018	$ 926,984	$ 894,872	$ 75	$ 910,890	$ (89,039)	$ 72,946	$ 0	$ 32,112
Changes in stockholders' equity
Dividends and dividend equivalents declared	(10,782)
Ending balance (in shares) at Mar. 31, 2019			75,604
Ending balance at Mar. 31, 2019	946,637	913,412	$ 76	901,749	(85,503)	97,090	0	33,225
Beginning balance (in shares) at Dec. 31, 2018			74,760
Beginning balance at Dec. 31, 2018	926,984	894,872	$ 75	910,890	(89,039)	72,946	0	32,112
Changes in stockholders' equity
Net income	74,941	73,414				73,414		1,527
Other comprehensive income (loss)	(2,608)	(2,608)			(2,608)
Share-based compensation	5,386	5,386		5,386
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10) (in shares)			854
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10)	(10,924)	(10,924)	$ 1	(10,925)
Purchases of common stock (Note 9)	(6,178)	(6,178)					(6,178)
Share repurchase liability (Note 9)	(6,178)	(6,178)					(6,178)
Dividends and dividend equivalents declared	(21,533)	(21,533)				(21,533)
Dividends declared to noncontrolling interests	(1,853)							(1,853)
Ending balance (in shares) at Jun. 30, 2019			75,614
Ending balance at Jun. 30, 2019	958,037	926,251	$ 76	905,351	(91,647)	124,827	(12,356)	31,786
Beginning balance (in shares) at Dec. 31, 2018			74,760
Beginning balance at Dec. 31, 2018	926,984	894,872	$ 75	910,890	(89,039)	72,946	0	32,112
Changes in stockholders' equity
Dividends and dividend equivalents declared	(42,977)
Ending balance (in shares) at Dec. 31, 2019			75,620
Ending balance at Dec. 31, 2019	950,826	918,440	$ 76	910,507	(112,028)	151,039	(31,154)	32,386
Beginning balance (in shares) at Mar. 31, 2019			75,604
Beginning balance at Mar. 31, 2019	946,637	913,412	$ 76	901,749	(85,503)	97,090	0	33,225
Changes in stockholders' equity
Net income	38,902	38,488				38,488		414
Other comprehensive income (loss)	(6,144)	(6,144)			(6,144)
Share-based compensation	3,601	3,601		3,601
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10) (in shares)			10
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10)	1	1	$ 0	1
Purchases of common stock (Note 9)	(6,178)	(6,178)					(6,178)
Share repurchase liability (Note 9)	(6,178)	(6,178)					(6,178)
Dividends and dividend equivalents declared	(10,751)	(10,751)				(10,751)
Dividends declared to noncontrolling interests	(1,853)							(1,853)
Ending balance (in shares) at Jun. 30, 2019			75,614
Ending balance at Jun. 30, 2019	958,037	926,251	$ 76	905,351	(91,647)	124,827	(12,356)	31,786
Beginning balance (in shares) at Dec. 31, 2019			75,620
Beginning balance at Dec. 31, 2019	950,826	918,440	$ 76	910,507	(112,028)	151,039	(31,154)	32,386
Changes in stockholders' equity
Dividends and dividend equivalents declared	(11,735)
Ending balance (in shares) at Mar. 31, 2020			75,649
Ending balance at Mar. 31, 2020	918,564	885,654	$ 76	912,162	(129,659)	148,181	(45,106)	32,910
Beginning balance (in shares) at Dec. 31, 2019			75,620
Beginning balance at Dec. 31, 2019	950,826	918,440	$ 76	910,507	(112,028)	151,039	(31,154)	32,386
Changes in stockholders' equity
Net income	13,548	11,190				11,190		2,358
Other comprehensive income (loss)	455	455			455
Share-based compensation	6,075	6,075		6,075
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10) (in shares)			36
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10)	(485)	(485)	$ 0	(485)
Purchases of common stock (Note 9)	(6,976)	(6,976)					(6,976)
Share repurchase liability (Note 9)	(6,976)	(6,976)					(6,976)
Dividends and dividend equivalents declared	(23,496)	(23,496)				(23,496)
Ending balance (in shares) at Jun. 30, 2020			75,656
Ending balance at Jun. 30, 2020	932,971	898,227	$ 76	916,097	(111,573)	138,733	(45,106)	34,744
Beginning balance (in shares) at Mar. 31, 2020			75,649
Beginning balance at Mar. 31, 2020	918,564	885,654	$ 76	912,162	(129,659)	148,181	(45,106)	32,910
Changes in stockholders' equity
Net income	4,147	2,313				2,313		1,834
Other comprehensive income (loss)	18,086	18,086			18,086
Share-based compensation	4,052	4,052		4,052
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10) (in shares)			7
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 10)	(117)	(117)	$ 0	(117)
Dividends and dividend equivalents declared	(11,761)	(11,761)				(11,761)
Ending balance (in shares) at Jun. 30, 2020			75,656
Ending balance at Jun. 30, 2020	$ 932,971	$ 898,227	$ 76	$ 916,097	$ (111,573)	$ 138,733	$ (45,106)	$ 34,744

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Acushnet Holdings Corp. (the “Company”), its wholly-owned subsidiaries and less than wholly-owned subsidiaries, including a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

Certain information in footnote disclosures normally included in annual financial statements has been condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the unaudited condensed consolidated financial statements do not include all disclosures required by U.S. GAAP. In the opinion of management, the financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of results to be expected for the full year ending December 31, 2020, nor were those of the comparable 2019 period representative of those actually experienced for the full year ended December 31, 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2019 included in its Annual Report on Form 10-K filed with the SEC on February 27, 2020.

Risks and Uncertainties

In March 2020, the World Health Organization declared a pandemic related to the novel coronavirus (“COVID-19”). Through the second quarter of 2020, the Company's business was significantly disrupted by the COVID-19 pandemic. In Asia, the Company's operations were impacted earlier in the year and are at varying stages of recovery, with Korea nearly fully recovered and other markets continuing to progress. In the United States and Europe, as a result of government-ordered shutdowns, most on-course retail pro shops and off-course retail partner locations were closed for some portion of March, most of April and part of May 2020. Also, as a result of these orders, the Company was forced to temporarily close or substantially limit its operations in its manufacturing facilities and distribution centers in the United States and Europe from the end of March until mid-May 2020. During this period, the Company was largely unable to manufacture or ship products in these regions and took steps to strengthen its financial position and balance sheet, bolster its liquidity position and provide additional financial flexibility, including by reducing discretionary spending, reducing capital expenditures, suspending its share repurchase program, and amending its credit agreement. See Note 4 for additional discussion of the Company's debt and financing arrangements.

The Company has evaluated and continues to evaluate the potential impact of the COVID-19 pandemic on its consolidated financial statements, including: impairment of goodwill and indefinite-lived intangible assets; impairment of long-lived assets, including property, plant and equipment; the fair value and collectability of receivables and other financial assets; the valuation of inventory; the effectiveness of foreign exchange forward contracts designated as cash flow hedges and the credit quality of the financial institutions with which the Company enters into derivative contracts; continuing compliance with debt covenants related to the Company's credit facility; and the probability of achievement of the performance metrics related to the Company's performance stock units (“PSUs”). The primary impacts to the Company’s consolidated financial statements as of the three and six months ended June 30, 2020 include the hedge de-designation of certain foreign exchange forward contracts deemed ineffective (Note 5) and a decrease in share-based compensation expense related to the Company's PSUs.

The impact of the COVID-19 pandemic continues to evolve and, as such, the Company cannot predict the full extent of the impact to its business, results of operations, financial position and cash flows. However, the business disruptions as a result of the COVID-19 pandemic could continue to have a material impact on its business, results of operations, financial position and cash flows.

Use of Estimates

The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets and liabilities and related disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company has also made estimates related to the impact of the COVID-19 pandemic within its unaudited condensed consolidated financial statements and there may be changes to those estimates in future periods. Actual results could differ from these estimates.

Variable Interest Entities

VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) the obligation, through its interests in the VIE, to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE.

The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE, which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the VIE have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of June 30, 2020 and December 31, 2019. In addition, pursuant to the terms of the agreement governing the VIE, the Company is not required to provide financial support to the VIE.

Noncontrolling Interests and Redeemable Noncontrolling Interest

The ownership interests held by owners other than the Company in less than wholly-owned subsidiaries are classified as noncontrolling interests. Redeemable noncontrolling interests are those noncontrolling interests which are or may become redeemable at a fixed or determinable price on a fixed or determinable date, at the option of the holder, or upon occurrence of an event. The financial results and position of the noncontrolling interests are included in their entirety in the Company’s unaudited condensed consolidated financial statements. The value attributable to the noncontrolling interests is presented on the unaudited condensed consolidated balance sheets, separately from the equity attributable to the Company. The value attributable to the redeemable noncontrolling interest and the related loan to the minority shareholders, which is recorded as a reduction to redeemable noncontrolling interest, is presented in the unaudited condensed consolidated balance sheets as temporary equity between liabilities and shareholders’ equity. The amount of the loan to minority shareholders included in temporary equity on the unaudited condensed consolidated balance sheets was $4.4 million as of both June 30, 2020 and December 31, 2019. Net income (loss) and comprehensive income (loss) attributable to noncontrolling interests are presented separately on the unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income, respectively.

Cash and Restricted Cash

Cash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations. As of June 30, 2020 and December 31, 2019, the amount of restricted cash included in cash and restricted cash on the unaudited condensed consolidated balance sheets was $2.1 million and $2.0 million, respectively.

Accounts Receivable

On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, "Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"), which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The CECL methodology requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The measurement of

expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including trade receivables.

The only financial assets held by the Company that are subject to evaluation under the CECL model are trade receivables. The Company adopted ASU 2016-13 using the modified retrospective method. The adoption of this standard did not have an impact on the carrying value of trade receivables. Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP.

The Company estimates expected credit losses using a number of factors, including customer credit ratings, age of receivables, historical credit loss information and current and forecasted economic conditions (including the impact of the COVID-19 pandemic) which could affect the collectability of the reported amounts. All of these factors have been considered in the estimate of expected credit losses as of June 30, 2020.

The activity related to the allowance for doubtful accounts for the periods presented was as follows:


	Three months ended		Six months ended
(in thousands)	June 30, 2020		June 30, 2020
Balance at beginning of period	$	5,782	$	5,338
Bad debt expense	1,792		2,708
Amount of receivables recovered (written off)	12		(274)
Foreign currency translation and other	157		(29)
Balance at end of period	$	7,743	$	7,743

Foreign Currency Translation and Transactions

Foreign currency transaction gains (losses) included in selling, general and administrative expense were gains of $2.6 million and losses of $0.1 million for the three months ended June 30, 2020 and 2019, respectively. Foreign currency transaction gains included in selling, general and administrative expense were $1.6 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively.

Recently Adopted Accounting Standards

Intangibles —Goodwill and Other —Internal-Use Software

On January 1, 2020, the Company adopted ASU 2018-15, "Intangibles -Goodwill and Other -Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract" ("ASU 2018-15"). The amendments in this update aligned the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The adoption of this standard did not have a material impact on the consolidated financial statements.

Recently Issued Accounting Standards

Income Taxes

In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, "Income Taxes (Topic 740) -Simplifying the Accounting for Income Taxes ("ASU 2019-12"). The amendments in this update simplify the accounting for income taxes by removing certain exceptions to general principles in Topic 740. The amendments also improve consistent application and simplify U.S. GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this standard will have on its consolidated financial statements.

Defined Benefit Plans—Changes to the Disclosure Requirements for Defined Benefit Plans

In August 2018, the FASB issued ASU 2018-14, "Compensation —Retirement Benefits —Defined Benefit Plans —General (Subtopic 715-20) —Disclosure Framework —Changes to the Disclosure Requirements for Defined Benefit Plans" ("ASU 2018-14"). The amendments in this update remove defined benefit plan disclosures that are no longer considered cost-beneficial, clarify the specific requirements of disclosures and add disclosure requirements identified as relevant. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The adoption of this standard should be applied to all periods presented. The adoption of this standard will not have a material impact on the consolidated financial statements.

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

The components of inventories were as follows:


	June 30,		December 31,
(in thousands)	2020		2019
Raw materials and supplies	$	77,509	$	87,675
Work-in-process	19,080		22,024
Finished goods	267,196		288,669
Inventories	$	363,785	$	398,368

Product Warranty

6 Months Ended

Jun. 30, 2020

Product Warranties Disclosures [Abstract]

Product Warranty

The Company has defined warranties generally ranging from one to two years. Products covered by the defined warranty policies primarily include all Titleist golf products, FootJoy golf shoes and FootJoy golf outerwear. These product warranties generally obligate the Company to pay for the cost of replacement products, including the cost of shipping replacement products to its customers. The estimated cost of satisfying future warranty claims is accrued at the time the sale is recorded. In estimating future warranty obligations, the Company considers various factors, including its warranty policies and practices, the historical frequency of claims and the cost to replace or repair products under warranty.

The activity related to the Company’s warranty obligation for accrued warranty expense was as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Balance at beginning of period	$	4,149	$	3,548	$	4,048	$	3,331
Provision	121		2,014		1,330		3,088
Claims paid/costs incurred	(786)		(1,949)		(1,730)		(2,825)
Foreign currency translation and other	110		(33)		(54)		(14)
Balance at end of period	$	3,594	$	3,580	$	3,594	$	3,580

Debt and Financing Arrangements	6 Months Ended
Debt and Financing Arrangements	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt and Financing Arrangements	Debt and Financing Arrangements Credit Facility The credit facility includes a revolving credit facility and a term loan facility. There were outstanding borrowings under the revolving credit facility of $173.8 million and $50.3 million as of June 30, 2020 and December 31, 2019, respectively. The weighted average interest rate applicable to these outstanding borrowings was 1.46% and 3.54% as of June 30, 2020 and December 31, 2019, respectively. The credit agreement contains customary affirmative and restrictive covenants, including, among others, financial covenants based on the Company's leverage and interest coverage ratios. See further discussion below regarding the Company's credit agreement and subsequent amendments to its leverage and interest coverage ratios. The credit agreement also includes customary events of default, the occurrence of which, following any applicable cure period, would permit the lenders to, among other things, declare the principal, accrued interest and other obligations to be immediately due and payable. As of June 30, 2020, the Company was in compliance with all covenants under the credit agreement. On April 1, 2020, the Company drew down $200.0 million under its revolving credit facility which it subsequently repaid on June 30, 2020. As of June 30, 2020, the Company had available borrowings under its revolving credit facility of $219.6 million after giving effect to $6.6 million of outstanding letters of credit. On July 3, 2020, the Company amended its credit agreement dated December 23, 2019 (the “First Amendment”). The First Amendment amends the credit agreement to, among other things, modify the maximum net average total leverage ratio for each of the fiscal quarters ending after June 30, 2020 and on or before September 30, 2021 (for such period of time, the “Covenant Relief Period”). During the Covenant Relief Period, in lieu of complying with a maximum net average total leverage ratio of 3.50 to 1.00, the Company will be required to comply with maximum net average total leverage ratios of 5.50 to 1.00 for the fiscal quarter ending September 30, 2020, 6.50 to 1.00 for the fiscal quarters ending December 31, 2020 and March 31, 2021, 4.50 to 1.00 for the fiscal quarter ending June 30, 2021 and 4.00 to 1.00 for the fiscal quarter ending September 30, 2021. Beginning with the fiscal quarter ending December 31, 2021, the Company will be required to comply with its previous maximum net average total leverage ratio of 3.50 to 1.00. The First Amendment also modified the interest rate applicable to borrowings under the credit agreement during the Covenant Relief Period from a range of 1.00% - 1.75% over the Eurodollar Rate (as defined in the credit agreement, which includes a 0.75% floor during the Covenant Relief Period) or 0.00% - 0.75% over the Base Rate (as defined in the credit agreement) to a range of 1.00% - 2.50% over the Eurodollar Rate or 0.00% - 1.50% over the Base Rate. The First Amendment modified the commitment fee rate payable during the Covenant Relief Period in respect of unused portions of the revolving credit facility from a range of 0.15%-0.30% to a range of 0.15%-0.45%. During the Covenant Relief Period, the Company has the right under the amended credit agreement, to establish a new revolving credit facility (a “364-Day Revolving Credit Facility”) providing for up to $150.0 million of revolving commitments of a new class maturing no later than the earlier of (x) 364 days from establishment of such facility and (y) the latest maturity applicable to then-outstanding term loans and existing revolving credit loans under the credit facility. The lenders under the credit facility will not be under any obligation to provide commitments under a 364-Day Revolving Credit Facility, and the establishment of a 364-Day Revolving Credit Facility is subject to customary conditions precedent. The First Amendment amends the incremental facilities provision in the credit agreement by permitting the Company to request additional term loans and/or increases to the existing revolving credit facility in an aggregate principal amount not to exceed (i) $225.0 million (the “Free and Clear Incremental Amount”) plus (ii) an unlimited amount so long as the net average secured leverage ratio (as defined in the credit agreement) does not exceed 2.25 to 1.00 on a pro forma basis (the “Incremental Provision”). Under the amended credit agreement, the Incremental Provision is unavailable during the Covenant Relief Period. In addition, at any time that a 364-Day Revolving Credit Facility is in effect, outstanding commitments and loans under such 364-Day Revolving Credit Facility will reduce the Free and Clear Incremental Amount. See Note 1 for further discussion on the Company's evaluation and response to the COVID-19 pandemic. Other Short-Term Borrowings The Company has certain unsecured local credit facilities available through its subsidiaries. There were outstanding borrowings under the Company's local credit facilities of $6.8 million and $3.8 million as of June 30, 2020 and December 31, 2019, respectively. The weighted average interest rate applicable to the outstanding borrowings was 2.37% and 2.29% as of June 30, 2020 and December 31, 2019, respectively. As of June 30, 2020, the Company had available borrowings remaining under these local credit facilities of $59.3 million. Letters of Credit As of June 30, 2020 and December 31, 2019, there were outstanding letters of credit related to agreements, including the Company's credit facility, totaling $10.3 million and $14.8 million, respectively, of which $7.1 million and $11.6 million, respectively, was secured. These agreements provided a maximum commitment for letters of credit of $60.1 million and $59.8 million as of June 30, 2020 and December 31, 2019, respectively.

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial InstrumentsThe Company principally uses derivative financial instruments to reduce the impact of foreign currency fluctuations and interest rate variability on the Company's results of operations. The principal derivative financial instruments the Company enters into are foreign exchange forward contracts and interest rate swaps. The Company does not enter into derivative financial instrument contracts for trading or speculative purposes.

Foreign Exchange Derivative Instruments

Foreign exchange forward contracts are foreign exchange derivative instruments primarily used to reduce foreign currency risk related to transactions denominated in a currency other than functional currency. These instruments are designated as cash flow hedges. The periods of the foreign exchange forward contracts correspond to the periods of the hedged forecasted transactions, which do not exceed 24 months subsequent to the latest balance sheet date. The primary foreign exchange forward contracts pertain to the U.S. dollar, the Japanese yen, the British pound sterling, the Canadian dollar, the Korean won and the euro. The gross U.S. dollar equivalent notional amount outstanding of all foreign exchange forward contracts designated under hedge accounting as of June 30, 2020 and December 31, 2019 was $256.1 million and $287.9 million, respectively.

As a result of the impact of the COVID-19 pandemic, the Company de-designated certain foreign exchange cash flow hedges deemed ineffective. The gross outstanding U.S. dollar equivalent notional amount of these foreign exchange forward contracts as of June 30, 2020 was $1.8 million, which is not included in the amounts above. See Note 1 for further discussion on the Company's evaluation and response to the COVID-19 pandemic.

The Company also enters into foreign exchange forward contracts, which do not qualify as hedging instruments under U.S. GAAP, to reduce foreign currency transaction risk related to certain intercompany assets and liabilities denominated in a currency other than functional currency. These undesignated instruments are recorded at fair value as a derivative asset or liability with the corresponding change in fair value recognized in selling, general and administrative expense. There were no outstanding foreign exchange forward contracts not designated under hedge accounting as of June 30, 2020 and December 31, 2019.

Interest Rate Derivative Instruments

The Company enters into interest rate swap contracts to reduce interest rate risk related to floating rate debt. Under the contracts, the Company pays fixed and receives variable rate interest, in effect converting a portion of its floating rate debt to fixed rate debt. The interest rate swap contracts are accounted for as cash flow hedges. As of June 30, 2020 and December 31, 2019, the notional value of the Company's outstanding interest rate swap contracts was $140.0 million and $160.0 million, respectively.

Impact on Financial Statements

The fair value of hedge instruments recognized on the unaudited condensed consolidated balance sheets was as follows:


(in thousands)		June 30,		December 31,
Balance Sheet Location	Hedge Instrument Type	2020		2019
Prepaid and other assets ⁽¹⁾	Foreign exchange forward	$	3,800	$	4,549

Other assets	Foreign exchange forward	924		1,109

Accrued expenses and other liabilities ⁽¹⁾	Foreign exchange forward	1,553		2,561
	Interest rate swap	3,498		1,862
Other noncurrent liabilities	Foreign exchange forward	297		115
	Interest rate swap	—		789

(1) Excludes less than $0.1 million related to hedges deemed ineffective as of June 30, 2020.

The hedge instrument gain (loss) recognized in accumulated other comprehensive loss, net of tax was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Type of hedge
Foreign exchange forward	$	(5,637)	$	107	$	3,830	$	2,194
Interest rate swap	(157)		(1,513)		(2,222)		(2,241)
Total	$	(5,794)	$	(1,406)	$	1,608	$	(47)

Gains and losses on derivative instruments designated as cash flow hedges are reclassified from accumulated other comprehensive loss, net of tax at the time the forecasted hedged transaction impacts the statement of operations or at the time the hedge is determined to be ineffective. Based on the current valuation, during the next 12 months the Company expects to reclassify a net gain of $4.8 million related to foreign exchange derivative instruments from accumulated other comprehensive loss, net of tax, into cost of goods sold and a net loss of $3.5 million related to interest rate derivative instruments from accumulated other comprehensive loss, net of tax into interest expense, net. For further information related to amounts recognized in accumulated other comprehensive loss, net of tax, see Note 11.

The hedge instrument gain (loss) recognized on the unaudited condensed consolidated statements of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Location of gain (loss) in statement of operations
Foreign exchange forward:
Cost of goods sold	$	232	$	2,993	$	1,774	$	4,599
Selling, general and administrative ⁽¹⁾⁽²⁾	(2,063)		131		(529)		(183)
Total	$	(1,831)	$	3,124	$	1,245	$	4,416

Interest Rate Swap:
Interest expense, net	$	(902)	$	(166)	$	(1,380)	$	(323)
Total	$	(902)	$	(166)	$	(1,380)	$	(323)

_______________________________________________________________________________

(1) Relates to net gains (losses) on foreign exchange forward contracts derived from previously designated cash flow hedges.

(2) Excludes net losses of $0.2 million and net gains of $0.4 million reclassified out of accumulated other comprehensive loss, net of tax related to hedges deemed ineffective during the three and six months ended June 30, 2020, respectively.

Credit Risk

The Company enters into derivative contracts with major financial institutions with investment grade credit ratings and is exposed to credit losses in the event of non-performance by these financial institutions. This credit risk is generally limited to the unrealized gains in the derivative contracts. However, the Company monitors the credit quality of these financial institutions, as well as its own credit quality, and considers the risk of counterparty default to be minimal.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 were as follows:


	Fair Value Measurements as of
	June 30, 2020 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	6,100	$	—	$	—	Prepaid and other assets
Foreign exchange derivative instruments	—		3,812		—		Prepaid and other assets


Deferred compensation program assets	825		—		—		Other assets
Foreign exchange derivative instruments	—		924		—		Other assets

Total assets	$	6,925	$	4,736	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	1,555	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		3,498		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	825		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		297		—		Other noncurrent liabilities

Total liabilities	$	825	$	5,350	$	—

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 were as follows:


	Fair Value Measurements as of
	December 31, 2019 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	6,070	$	—	$	—	Prepaid and other assets
Foreign exchange derivative instruments	—		4,549		—		Prepaid and other assets

Deferred compensation program assets	870		—		—		Other assets
Foreign exchange derivative instruments	—		1,109		—		Other assets
Total assets	$	6,940	$	5,658	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	2,561	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		1,862		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	870		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		115		—		Other noncurrent liabilities
Interest rate derivative instruments	—		789		—		Other noncurrent liabilities
Total liabilities	$	870	$	5,327	$	—

Rabbi trust assets are used to fund certain retirement obligations of the Company. The assets underlying the Rabbi trust are equity and fixed income exchange-traded funds.

Deferred compensation program assets and liabilities represent a program where select employees could defer compensation until termination of employment. Effective July 29, 2011, this program was amended to cease all employee compensation deferrals and provided for the distribution of all previously deferred employee compensation. The program remains in effect with respect to the value attributable to the employer match contributed prior to July 29, 2011.

Foreign exchange derivative instruments are foreign exchange forward contracts primarily used to limit currency risk that would otherwise result from changes in foreign exchange rates (Note 5). The Company uses the mid-price of foreign exchange forward rates as of the close of business on the valuation date to value each foreign exchange forward contract at each reporting period.

Interest rate derivative instruments are interest rate swap contracts used to reduce interest rate risk related to the Company's floating rate debt (Note 5). The valuation for the interest rate swap is calculated as the net of the discounted future cash flows of the pay and receive legs of the swap. Mid-market interest rates on the valuation date are used to create the forward curve for floating legs and discount curve.

- 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 + Details

Pension and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Components of net periodic benefit cost (income) were as follows:


	Pension Benefits						Postretirement Benefits
	Three months ended June 30,
(in thousands)	2020		2019		2020		2019
Components of net periodic benefit cost (income)
Service cost	$	2,462	$	1,880	$	129	$	126
Interest cost	2,538		2,808		104		140
Expected return on plan assets	(2,902)		(3,257)		—		—
Settlement expense	3,850		1,775		—		—

Amortization of net loss (gain)	1,343		129		(270)		(355)
Amortization of prior service cost (credit)	69		48		(34)		(34)
Net periodic benefit cost (income)	$	7,360	$	3,383	$	(71)	$	(123)

Components of net periodic benefit cost (income) were as follows:


	Pension Benefits						Postretirement Benefits
	Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Components of net periodic benefit cost (income)
Service cost	$	4,778	$	4,122	$	300	$	287
Interest cost	5,050		5,788		216		278
Expected return on plan assets	(5,805)		(6,556)		—		—
Settlement expense	3,850		1,775		—		—

Amortization of net loss (gain)	2,307		401		(484)		(718)
Amortization of prior service cost (credit)	139		92		(68)		(68)
Net periodic benefit cost (income)	$	10,319	$	5,622	$	(36)	$	(221)

The non-service cost components of net periodic benefit cost (income) are included in other expense (income), net in the unaudited condensed consolidated statements of operations.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense decreased by $16.8 million to an income tax benefit of $0.6 million for the three months ended June 30, 2020 compared to income tax expense of $16.2 million for the three months ended June 30, 2019. The Company’s effective tax rate ("ETR") was (19.0)% for the three months ended June 30, 2020 compared to 29.4% for the three months ended June 30, 2019. The change in the ETR was primarily driven by the impact of the COVID-19 pandemic on the Company's jurisdictional mix of earnings, as well as a discrete tax benefit related to a reduction of foreign withholding taxes. Income tax expense decreased by $21.5 million to $7.0 million for the six months ended June 30, 2020 compared to $28.5 million for the six months ended June 30, 2019. The Company’s ETR was 35.6% for the six months ended June 30, 2020 compared to 27.6% for the six months ended June 30, 2019. The increase in the ETR was primarily driven by the impact of the COVID-19 pandemic on the Company's jurisdictional mix of earnings, as well as discrete tax benefits related to both a reduction of foreign withholding taxes and a reduction in tax benefits related to share-based compensation expense.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Common Stock

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Common Stock

Dividends

The Company declared dividends per common share, including DERs (Note 10), during the periods presented as follows:


	Dividends per Common Share		Amount (in thousands)
2020:


Second Quarter	$	0.155	$	11,761
First Quarter	0.155		11,735
Total dividends declared in 2020	$	0.31	$	23,496

2019:
Fourth Quarter	$	0.14	$	10,718
Third Quarter	0.14		10,726
Second Quarter	0.14		10,751
First Quarter	0.14		10,782
Total dividends declared in 2019	$	0.56	$	42,977

During the third quarter of 2020, the Company's Board of Directors declared a dividend of $0.155 per share of common stock to shareholders of record as of September 4, 2020 and payable on September 18, 2020.

Share Repurchase Program

As of June 30, 2020, the Board of Directors had authorized the Company to repurchase up to an aggregate of $100.0 million of its issued and outstanding common stock.

Share repurchases may be effected from time to time in open market or privately negotiated transactions, including transactions with affiliates, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company consistent with the Company's general working capital needs and within the constraints of the Company’s credit agreement. As previously disclosed, in connection with this share repurchase program, the Company entered into an agreement with Magnus Holdings Co., Ltd. (“Magnus”), a wholly owned subsidiary of Fila Holdings Co., to purchase from Magnus an equal amount of its common stock as it purchases on the open market, up to an aggregate of $24.9 million, at the same weighted average per share price.

In April 2020, the Company temporarily suspended stock repurchases under its share repurchase program in light of the COVID-19 pandemic. The Company has the ability to resume repurchases in its discretion. See Note 1 for further discussion on the Company's evaluation and response to the COVID-19 pandemic.

The Company's share repurchase activity was as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands, except share and per share amounts)	2020		2019		2020		2019
Shares repurchased ⁽¹⁾	—		253,385		243,894		253,385
Average price	$	—	$	24.38	$	28.60	$	24.38
Aggregate value	$	—	$	6,178	$	6,976	$	6,178

_______________________________________________________________________________

(1) There were no shares repurchased from Magnus during the three and six months ended June 30, 2020 related to the Magnus share repurchase agreement.

In relation to the Magnus share repurchase agreement, the Company has recorded a liability to repurchase additional shares of common stock from Magnus of $8.8 million (299,894 shares) and $1.8 million (56,000 shares), which was included in accrued expenses and other liabilities and treasury stock on the unaudited condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively. Excluding the impact of the share repurchase liability, as of June 30, 2020 the Company had $63.7 million remaining under the current share repurchase authorization, including $11.1 million related to the Magnus share repurchase agreement.

Equity Incentive Plans

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Equity Incentive Plans

Under the Acushnet Holdings Corp. 2015 Omnibus Incentive Plan (“2015 Plan”), the Company may grant stock options, stock appreciation rights, restricted shares of common stock, restricted stock units ("RSUs"), PSUs and other share-based and cash-based awards to members of the Board of Directors, officers, employees, consultants and advisors of the Company. As of June 30, 2020, the only awards granted under the 2015 Plan were RSUs and PSUs.

Restricted Stock and Performance Stock Units

RSUs granted to members of the Board of Directors vest immediately into shares of common stock. RSUs granted to Company officers generally vest over three years, with one-third of each grant vesting annually, subject to the recipient's continued employment with the Company. RSUs granted to other employees, consultants and advisors of the Company vest in accordance with the terms of the grants, generally over three years, subject to the recipient’s continued service to the Company. PSUs vest, subject to the recipient's continued employment with the Company, based upon the Company's performance against specified metrics which are generally over a three year performance period. At the end of the performance period, the number of shares of common stock that could be issued is fixed based upon the Company's performance against these metrics. The number of shares that could be issued can range from 0% to 200% of the recipient's target award. Recipients of the awards granted under the 2015 Plan may elect to defer receipt of all or any portion of any shares of common stock issuable upon vesting to a future date elected by the recipient.

All RSUs and PSUs granted under the 2015 Plan have DERs, which entitle holders of RSUs and PSUs to the same dividend value per share as holders of common stock and can be paid in either cash or common stock. DERs are subject to the same vesting and other terms and conditions as the corresponding unvested RSUs and PSUs. DERs are paid when the underlying shares of common stock are delivered.

A summary of the Company’s RSUs and PSUs as of June 30, 2020 and changes during the six months then ended is presented below:


		Weighted-			Weighted-
	Number	Average		Number	Average
	of RSUs	Fair Value RSUs		of PSUs	Fair Value PSUs
Outstanding as of December 31, 2019	947,243	$	23.49	207,077	$	23.47
Granted	518,831	25.91		252,031	25.45
Vested ⁽¹⁾	(94,029)	25.19		(789)	25.45
Forfeited	(39,979)	24.09		—	—
Outstanding as of June 30, 2020	1,332,066	$	24.29	458,319	$	24.55

_______________________________________________________________________________

(1) Included 74,442 shares of common stock related to RSUs and no shares of common stock related to PSUs that were not delivered as of June 30, 2020.

A summary of shares of common stock issued related to the 2015 Plan, including the impact of any DERs issued in common stock, is presented below:


	Six months ended			Six months ended
	June 30, 2020			June 30, 2019
	RSUs	PSUs	RSUs	PSUs
Shares of common stock issued ⁽¹⁾	52,512	789	401,986	900,226
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations	(16,973)	(269)	(123,013)	(325,246)
Net shares of common stock issued	35,539	520	278,973	574,980

Cumulative undelivered shares of common stock	262,568	—	177,249	—

______________________________________________________________________________

(1) Shares of common stock issued in 2019 related to PSUs represents PSUs that vested in 2018 but were delivered in common stock during the six months ended June 30, 2019.

Compensation expense recorded related to RSUs and PSUs in the consolidated statement of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
RSUs	$	3,787	$	3,170	$	6,265	$	4,740
PSUs	265		431		(190)		646

The remaining unrecognized compensation expense related to unvested RSUs and unvested PSUs was $19.6 million and $6.3 million, respectively, as of June 30, 2020 and is expected to be recognized over the related weighted average period of 2.1 years and 2.6 years, respectively.

Compensation Expense

The allocation of share-based compensation expense in the unaudited condensed consolidated statements of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Cost of goods sold	$	403	$	194	$	628	$	361
Selling, general and administrative	3,575		3,174		5,289		4,641
Research and development	238		233		486		384
Total compensation expense before income tax	4,216		3,601		6,403		5,386
Income tax benefit	849		746		1,312		1,136
Total compensation expense, net of income tax	$	3,367	$	2,855	$	5,091	$	4,250

Accumulated Other Comprehensive Loss, Net of Tax

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss, Net of Tax

Accumulated other comprehensive loss, net of tax consists of foreign currency translation adjustments, unrealized gains and losses from derivative instruments designated as cash flow hedges (Note 5) and pension and other postretirement adjustments (Note 7).

The components of and changes in accumulated other comprehensive loss, net of tax, were as follows:


	Foreign		Gains (Losses) on		Gains (Losses) on		Pension and		Accumulated
	Currency		Foreign Exchange		Interest Rate		Other		Other
	Translation		Derivative		Swap Derivative		Postretirement		Comprehensive
(in thousands)	Adjustments		Instruments		Instruments		Adjustments		Loss, Net of Tax
Balance as of December 31, 2019	$	(71,187)	$	2,901	$	(2,003)	$	(41,739)	$	(112,028)

Other comprehensive income (loss) before reclassifications	(4,740)		3,830		(2,222)		322		(2,810)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—		(2,223)		1,380		5,744		4,901
Tax benefit (expense)	—		(389)		204		(1,451)		(1,636)
Balance as of June 30, 2020	$	(75,927)	$	4,119	$	(2,641)	$	(37,124)	$	(111,573)

Net Income per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income per Common Share

The following is a computation of basic and diluted net income per common share attributable to Acushnet Holdings Corp.:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands, except share and per share amounts)	2020		2019		2020		2019

Net income attributable to Acushnet Holdings Corp.	$	2,313	$	38,488	$	11,190	$	73,414






Weighted average number of common shares:
Basic	74,252,981		75,618,717		74,394,967		75,811,780
Diluted	74,875,219		75,858,114		74,983,411		76,060,003

Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$	0.03	$	0.51	$	0.15	$	0.97
Diluted	$	0.03	$	0.51	$	0.15	$	0.97

Net income per common share attributable to Acushnet Holdings Corp. for the three and six months ended June 30, 2020 and 2019 was calculated using the treasury stock method.

The Company’s potential dilutive securities for the three and six months ended June 30, 2020 and 2019 include RSUs and PSUs. PSUs vest based upon achievement of performance targets and are excluded from the diluted shares outstanding unless the performance targets have been met as of the end of the applicable reporting period regardless of whether such performance targets are probable of achievement.

For the three and six months ended June 30, 2020 and 2019, the following securities have been excluded from the calculation of diluted weighted-average common shares outstanding as their impact was determined to be anti-dilutive:


	Three months ended			Six months ended
	June 30,			June 30,
	2020	2019	2020	2019


RSUs	—	—	—	2,025

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about assessing performance and allocating resources. The Company has four reportable segments that are organized on the basis of product categories. These segments include Titleist golf balls, Titleist golf clubs, Titleist golf gear and FootJoy golf wear.

The CODM primarily evaluates performance using segment operating income (loss). Segment operating income (loss) includes directly attributable expenses and certain shared costs of corporate administration that are allocated to the reportable segments, but excludes interest expense, net, restructuring charges, the non-service cost component of net periodic benefit cost, transaction fees and other non-operating gains and losses as the Company does not allocate these to the reportable segments. The CODM does not evaluate a measure of assets when assessing performance.

Results shown for the three and six months ended June 30, 2020 and 2019 are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. There are no intersegment transactions.

Information by reportable segment and a reconciliation to reported amounts are as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Net sales
Titleist golf balls	$	102,139	$	173,305	$	218,378	$	314,972
Titleist golf clubs	72,396		107,010		165,610		198,328
Titleist golf gear	32,369		46,837		75,894		92,018
FootJoy golf wear	68,336		114,095		198,723		255,076
Other	24,762		20,971		50,138		35,526
Total net sales	$	300,002	$	462,218	$	708,743	$	895,920

Segment operating income (loss)
Titleist golf balls	$	10,048	$	37,972	$	13,291	$	57,700
Titleist golf clubs	(2,361)		6,865		2,142		6,460
Titleist golf gear	4,659		9,066		13,524		18,217
FootJoy golf wear	(1,855)		4,156		12,442		24,300
Other	2,667		5,147		3,747		8,587
Total segment operating income	13,158		63,206		45,146		115,264
Reconciling items:
Interest expense, net	(4,402)		(5,213)		(8,525)		(10,096)
Restructuring charges	(1,104)		—		(12,732)		—
Non-service cost component of net periodic benefit cost	(4,698)		(1,254)		(5,205)		(992)
Transaction fees	—		(1,947)		—		(1,947)
Other	201		349		1,086		1,226
Total income before income tax	$	3,155	$	55,141	$	19,770	$	103,455

Information as to the Company’s operations in different geographical areas is presented below. Net sales are categorized based on the location in which the sale originates.


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
United States	$	145,230	$	256,267	$	356,238	$	486,650
EMEA ⁽¹⁾	34,126		60,001		108,797		131,079
Japan	22,142		38,813		59,698		79,548
Korea	65,889		60,410		116,338		109,452
Rest of world	32,615		46,727		67,672		89,191
Total net sales	$	300,002	$	462,218	$	708,743	$	895,920

_______________________________________________________________________________

(1) Europe, the Middle East and Africa ("EMEA")

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Purchase Obligations

During the normal course of its business, the Company enters into agreements to purchase goods and services, including purchase commitments for production materials, finished goods inventory, capital expenditures and endorsement arrangements with professional golfers.

The Company's purchase obligations as of June 30, 2020 were as follows:


	Payments Due by Period
	Remainder of
(in thousands)	2020		2021		2022		2023		2024		Thereafter
Purchase obligations ⁽¹⁾	$	150,118	$	19,205	$	4,124	$	673	$	470	$	1,603

_______________________________________________________________________________

(1) The reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the unaudited condensed consolidated balance sheet as of June 30, 2020.

Contingencies

In connection with the Company’s acquisition of Acushnet Company, Beam Suntory, Inc. indemnified the Company for certain tax related obligations that relate to periods during which Fortune Brands, Inc. owned Acushnet Company. As of June 30, 2020 and December 31, 2019, the Company’s estimate of its receivable for these indemnifications was $9.7 million and $9.5 million, respectively, which was recorded in other assets on the unaudited condensed consolidated balance sheets.

Litigation

The Company and its subsidiaries are defendants in lawsuits associated with the normal conduct of their businesses and operations. It is not possible to predict the outcome of the pending actions, and, as with any litigation, it is possible that some of these actions could be decided unfavorably. Consequently, the Company is unable to estimate the ultimate aggregate amount of monetary loss, amounts covered by insurance or the financial impact that will result from such matters and has not recorded a liability related to potential losses.

Restructuring Charges

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring Charges

During the first quarter of 2020, management approved a restructuring program to refine its business model and improve operational efficiencies. This program included both a voluntary bridge to retirement ("VBR") program for certain eligible employees and involuntary headcount reductions ("Other"). The VBR program is part of the Company's long-term strategic planning process and is designed to bridge eligible employees to retirement. As part of this program, employees were offered severance in the form of salary continuation, including benefits, as well as accrued bonus incentives. Costs associated with the involuntary headcount reductions include severance and other benefits related to these headcount reductions.

The activity related to the Company’s restructuring programs was as follows:


	Three months ended June 30, 2020						Six months ended June 30, 2020
(in thousands)	VBR		Other		VBR		Other
Balance at beginning of period	$	11,249	$	288	$	—	$	—
Provision	—		1,104		11,249		1,483
Payments	(1,124)		(539)		(1,124)		(630)
Foreign currency translation and other	215		3		215		3
Balance at end of period	$	10,340	$	856	$	10,340	$	856

There are no further costs expected to be incurred with these programs. The Company could implement additional restructuring programs in the future as a result of the impacts of the COVID-19 pandemic or other operational efficiency improvement opportunities.

The restructuring program liabilities recognized on the unaudited condensed consolidated balance sheets were as follows:

(in thousands)

June 30,

Balance Sheet Location

Restructuring Program

2020

Accrued compensation and benefits

VBR

$

8,447

Other

856

Other noncurrent liabilities

VBR

1,893

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Acushnet Holdings Corp. (the “Company”), its wholly-owned subsidiaries and less than wholly-owned subsidiaries, including a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. Certain information in footnote disclosures normally included in annual financial statements has been condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the unaudited condensed consolidated financial statements do not include all disclosures required by U.S. GAAP. In the opinion of management, the financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of results to be expected for the full year ending December 31, 2020, nor were those of the comparable 2019 period representative of those actually experienced for the full year ended December 31, 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2019 included in its Annual Report on Form 10-K filed with the SEC on February 27, 2020.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets and liabilities and related disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company has also made estimates related to the impact of the COVID-19 pandemic within its unaudited condensed consolidated financial statements and there may be changes to those estimates in future periods. Actual results could differ from these estimates.
Variable Interest Entities	Variable Interest Entities VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) the obligation, through its interests in the VIE, to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE. The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE, which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the VIE have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of June 30, 2020 and December 31, 2019. In addition, pursuant to the terms of the agreement governing the VIE, the Company is not required to provide financial support to the VIE.
Noncontrolling Interests and Redeemable Noncontrolling Interest	Noncontrolling Interests and Redeemable Noncontrolling Interest The ownership interests held by owners other than the Company in less than wholly-owned subsidiaries are classified as noncontrolling interests. Redeemable noncontrolling interests are those noncontrolling interests which are or may become redeemable at a fixed or determinable price on a fixed or determinable date, at the option of the holder, or upon occurrence of an event. The financial results and position of the noncontrolling interests are included in their entirety in the Company’s unaudited condensed consolidated financial statements. The value attributable to the noncontrolling interests is presented on the unaudited condensed consolidated balance sheets, separately from the equity attributable to the Company. The value attributable to the redeemable noncontrolling interest and the related loan to the minority shareholders, which is recorded as a reduction to redeemable noncontrolling interest, is presented in the unaudited condensed consolidated balance sheets as temporary equity between liabilities and shareholders’ equity. The amount of the loan to minority shareholders included in temporary equity on the unaudited condensed consolidated balance sheets was $4.4 million as of both June 30, 2020 and December 31, 2019. Net income (loss) and comprehensive income (loss) attributable to noncontrolling interests are presented separately on the unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income, respectively.
Cash and Restricted Cash	Cash and Restricted CashCash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations.
Accounts Receivable	Accounts Receivable On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, "Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"), which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The CECL methodology requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including trade receivables. The only financial assets held by the Company that are subject to evaluation under the CECL model are trade receivables. The Company adopted ASU 2016-13 using the modified retrospective method. The adoption of this standard did not have an impact on the carrying value of trade receivables. Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP. The Company estimates expected credit losses using a number of factors, including customer credit ratings, age of receivables, historical credit loss information and current and forecasted economic conditions (including the impact of the COVID-19 pandemic) which could affect the collectability of the reported amounts. All of these factors have been considered in the estimate of expected credit losses as of June 30, 2020.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Foreign currency transaction gains (losses) included in selling, general and administrative expense were gains of $2.6 million and losses of $0.1 million for the three months ended June 30, 2020 and 2019, respectively. Foreign currency transaction gains included in selling, general and administrative expense were $1.6 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards Intangibles —Goodwill and Other —Internal-Use Software On January 1, 2020, the Company adopted ASU 2018-15, "Intangibles -Goodwill and Other -Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract" ("ASU 2018-15"). The amendments in this update aligned the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The adoption of this standard did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, "Income Taxes (Topic 740) -Simplifying the Accounting for Income Taxes ("ASU 2019-12"). The amendments in this update simplify the accounting for income taxes by removing certain exceptions to general principles in Topic 740. The amendments also improve consistent application and simplify U.S. GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this standard will have on its consolidated financial statements. Defined Benefit Plans—Changes to the Disclosure Requirements for Defined Benefit Plans In August 2018, the FASB issued ASU 2018-14, "Compensation —Retirement Benefits —Defined Benefit Plans —General (Subtopic 715-20) —Disclosure Framework —Changes to the Disclosure Requirements for Defined Benefit Plans" ("ASU 2018-14"). The amendments in this update remove defined benefit plan disclosures that are no longer considered cost-beneficial, clarify the specific requirements of disclosures and add disclosure requirements identified as relevant. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The adoption of this standard should be applied to all periods presented. The adoption of this standard will not have a material impact on the consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

The activity related to the allowance for doubtful accounts for the periods presented was as follows:


	Three months ended		Six months ended
(in thousands)	June 30, 2020		June 30, 2020
Balance at beginning of period	$	5,782	$	5,338
Bad debt expense	1,792		2,708
Amount of receivables recovered (written off)	12		(274)
Foreign currency translation and other	157		(29)
Balance at end of period	$	7,743	$	7,743

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of inventory

The components of inventories were as follows:


	June 30,		December 31,
(in thousands)	2020		2019
Raw materials and supplies	$	77,509	$	87,675
Work-in-process	19,080		22,024
Finished goods	267,196		288,669
Inventories	$	363,785	$	398,368

Product Warranty (Tables)

6 Months Ended

Jun. 30, 2020

Product Warranties Disclosures [Abstract]

Schedule of warranty obligation for accrued warranty expense

The activity related to the Company’s warranty obligation for accrued warranty expense was as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Balance at beginning of period	$	4,149	$	3,548	$	4,048	$	3,331
Provision	121		2,014		1,330		3,088
Claims paid/costs incurred	(786)		(1,949)		(1,730)		(2,825)
Foreign currency translation and other	110		(33)		(54)		(14)
Balance at end of period	$	3,594	$	3,580	$	3,594	$	3,580

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of hedge instruments on the unaudited condensed consolidated balance sheets

The fair value of hedge instruments recognized on the unaudited condensed consolidated balance sheets was as follows:


(in thousands)		June 30,		December 31,
Balance Sheet Location	Hedge Instrument Type	2020		2019
Prepaid and other assets ⁽¹⁾	Foreign exchange forward	$	3,800	$	4,549

Other assets	Foreign exchange forward	924		1,109

Accrued expenses and other liabilities ⁽¹⁾	Foreign exchange forward	1,553		2,561
	Interest rate swap	3,498		1,862
Other noncurrent liabilities	Foreign exchange forward	297		115
	Interest rate swap	—		789

(1) Excludes less than $0.1 million related to hedges deemed ineffective as of June 30, 2020.

Effect of hedge instruments on accumulated other comprehensive loss, net of tax

The hedge instrument gain (loss) recognized in accumulated other comprehensive loss, net of tax was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Type of hedge
Foreign exchange forward	$	(5,637)	$	107	$	3,830	$	2,194
Interest rate swap	(157)		(1,513)		(2,222)		(2,241)
Total	$	(5,794)	$	(1,406)	$	1,608	$	(47)

Effect of hedge instrument in the unaudited condensed consolidated statement of operations

The hedge instrument gain (loss) recognized on the unaudited condensed consolidated statements of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Location of gain (loss) in statement of operations
Foreign exchange forward:
Cost of goods sold	$	232	$	2,993	$	1,774	$	4,599
Selling, general and administrative ⁽¹⁾⁽²⁾	(2,063)		131		(529)		(183)
Total	$	(1,831)	$	3,124	$	1,245	$	4,416

Interest Rate Swap:
Interest expense, net	$	(902)	$	(166)	$	(1,380)	$	(323)
Total	$	(902)	$	(166)	$	(1,380)	$	(323)

_______________________________________________________________________________

(1) Relates to net gains (losses) on foreign exchange forward contracts derived from previously designated cash flow hedges.

(2) Excludes net losses of $0.2 million and net gains of $0.4 million reclassified out of accumulated other comprehensive loss, net of tax related to hedges deemed ineffective during the three and six months ended June 30, 2020, respectively.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 were as follows:


	Fair Value Measurements as of
	June 30, 2020 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	6,100	$	—	$	—	Prepaid and other assets
Foreign exchange derivative instruments	—		3,812		—		Prepaid and other assets


Deferred compensation program assets	825		—		—		Other assets
Foreign exchange derivative instruments	—		924		—		Other assets

Total assets	$	6,925	$	4,736	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	1,555	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		3,498		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	825		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		297		—		Other noncurrent liabilities

Total liabilities	$	825	$	5,350	$	—

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 were as follows:


	Fair Value Measurements as of
	December 31, 2019 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	6,070	$	—	$	—	Prepaid and other assets
Foreign exchange derivative instruments	—		4,549		—		Prepaid and other assets

Deferred compensation program assets	870		—		—		Other assets
Foreign exchange derivative instruments	—		1,109		—		Other assets
Total assets	$	6,940	$	5,658	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	2,561	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		1,862		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	870		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		115		—		Other noncurrent liabilities
Interest rate derivative instruments	—		789		—		Other noncurrent liabilities
Total liabilities	$	870	$	5,327	$	—

Pension and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost (income)

Components of net periodic benefit cost (income) were as follows:


	Pension Benefits						Postretirement Benefits
	Three months ended June 30,
(in thousands)	2020		2019		2020		2019
Components of net periodic benefit cost (income)
Service cost	$	2,462	$	1,880	$	129	$	126
Interest cost	2,538		2,808		104		140
Expected return on plan assets	(2,902)		(3,257)		—		—
Settlement expense	3,850		1,775		—		—

Amortization of net loss (gain)	1,343		129		(270)		(355)
Amortization of prior service cost (credit)	69		48		(34)		(34)
Net periodic benefit cost (income)	$	7,360	$	3,383	$	(71)	$	(123)

Components of net periodic benefit cost (income) were as follows:


	Pension Benefits						Postretirement Benefits
	Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Components of net periodic benefit cost (income)
Service cost	$	4,778	$	4,122	$	300	$	287
Interest cost	5,050		5,788		216		278
Expected return on plan assets	(5,805)		(6,556)		—		—
Settlement expense	3,850		1,775		—		—

Amortization of net loss (gain)	2,307		401		(484)		(718)
Amortization of prior service cost (credit)	139		92		(68)		(68)
Net periodic benefit cost (income)	$	10,319	$	5,622	$	(36)	$	(221)

Common Stock (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of declared dividends per share

The Company declared dividends per common share, including DERs (Note 10), during the periods presented as follows:


	Dividends per Common Share		Amount (in thousands)
2020:


Second Quarter	$	0.155	$	11,761
First Quarter	0.155		11,735
Total dividends declared in 2020	$	0.31	$	23,496

2019:
Fourth Quarter	$	0.14	$	10,718
Third Quarter	0.14		10,726
Second Quarter	0.14		10,751
First Quarter	0.14		10,782
Total dividends declared in 2019	$	0.56	$	42,977

Schedule of share repurchase activity

The Company's share repurchase activity was as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands, except share and per share amounts)	2020		2019		2020		2019
Shares repurchased ⁽¹⁾	—		253,385		243,894		253,385
Average price	$	—	$	24.38	$	28.60	$	24.38
Aggregate value	$	—	$	6,178	$	6,976	$	6,178

_______________________________________________________________________________

(1) There were no shares repurchased from Magnus during the three and six months ended June 30, 2020 related to the Magnus share repurchase agreement.

Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of restricted and performance stock units

A summary of the Company’s RSUs and PSUs as of June 30, 2020 and changes during the six months then ended is presented below:


		Weighted-			Weighted-
	Number	Average		Number	Average
	of RSUs	Fair Value RSUs		of PSUs	Fair Value PSUs
Outstanding as of December 31, 2019	947,243	$	23.49	207,077	$	23.47
Granted	518,831	25.91		252,031	25.45
Vested ⁽¹⁾	(94,029)	25.19		(789)	25.45
Forfeited	(39,979)	24.09		—	—
Outstanding as of June 30, 2020	1,332,066	$	24.29	458,319	$	24.55

_______________________________________________________________________________

(1) Included 74,442 shares of common stock related to RSUs and no shares of common stock related to PSUs that were not delivered as of June 30, 2020.

Summary of shares of common stock issued

A summary of shares of common stock issued related to the 2015 Plan, including the impact of any DERs issued in common stock, is presented below:


	Six months ended			Six months ended
	June 30, 2020			June 30, 2019
	RSUs	PSUs	RSUs	PSUs
Shares of common stock issued ⁽¹⁾	52,512	789	401,986	900,226
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations	(16,973)	(269)	(123,013)	(325,246)
Net shares of common stock issued	35,539	520	278,973	574,980

Cumulative undelivered shares of common stock	262,568	—	177,249	—

______________________________________________________________________________

(1) Shares of common stock issued in 2019 related to PSUs represents PSUs that vested in 2018 but were delivered in common stock during the six months ended June 30, 2019.

Compensation expense recorded in the consolidated statement of operations

Compensation expense recorded related to RSUs and PSUs in the consolidated statement of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
RSUs	$	3,787	$	3,170	$	6,265	$	4,740
PSUs	265		431		(190)		646

Schedule of compensation expense related to equity incentive plans

The allocation of share-based compensation expense in the unaudited condensed consolidated statements of operations was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2020		2019		2020		2019
Cost of goods sold	$	403	$	194	$	628	$	361
Selling, general and administrative	3,575		3,174		5,289		4,641
Research and development	238		233		486		384
Total compensation expense before income tax	4,216		3,601		6,403		5,386
Income tax benefit	849		746		1,312		1,136
Total compensation expense, net of income tax	$	3,367	$	2,855	$	5,091	$	4,250

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Accumulated Other Comprehensive Loss, Net of Tax (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of changes in each component of accumulated comprehensive loss, net of tax effects

The components of and changes in accumulated other comprehensive loss, net of tax, were as follows:


	Foreign		Gains (Losses) on		Gains (Losses) on		Pension and		Accumulated
	Currency		Foreign Exchange		Interest Rate		Other		Other
	Translation		Derivative		Swap Derivative		Postretirement		Comprehensive
(in thousands)	Adjustments		Instruments		Instruments		Adjustments		Loss, Net of Tax
Balance as of December 31, 2019	$	(71,187)	$	2,901	$	(2,003)	$	(41,739)	$	(112,028)

Other comprehensive income (loss) before reclassifications	(4,740)		3,830		(2,222)		322		(2,810)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—		(2,223)		1,380		5,744		4,901
Tax benefit (expense)	—		(389)		204		(1,451)		(1,636)
Balance as of June 30, 2020	$	(75,927)	$	4,119	$	(2,641)	$	(37,124)	$	(111,573)

Net Income per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net income per common share

The following is a computation of basic and diluted net income per common share attributable to Acushnet Holdings Corp.:


	Three months ended						Six months ended
	June 30,						June 30,
(in thousands, except share and per share amounts)	2020		2019		2020		2019

Net income attributable to Acushnet Holdings Corp.	$	2,313	$	38,488	$	11,190	$	73,414






Weighted average number of common shares:
Basic	74,252,981		75,618,717		74,394,967		75,811,780
Diluted	74,875,219		75,858,114		74,983,411		76,060,003

Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$	0.03	$	0.51	$	0.15	$	0.97
Diluted	$	0.03	$	0.51	$	0.15	$	0.97

Schedule of securities excluded from the calculation of diluted weighted average common shares

For the three and six months ended June 30, 2020 and 2019, the following securities have been excluded from the calculation of diluted weighted-average common shares outstanding as their impact was determined to be anti-dilutive:


	Three months ended			Six months ended
	June 30,			June 30,
	2020	2019	2020	2019


RSUs	—	—	—	2,025

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of information by reportable segment and a reconciliation to reported amounts

Information by reportable segment and a reconciliation to reported amounts are as follows:


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
Net sales
Titleist golf balls	$	102,139	$	173,305	$	218,378	$	314,972
Titleist golf clubs	72,396		107,010		165,610		198,328
Titleist golf gear	32,369		46,837		75,894		92,018
FootJoy golf wear	68,336		114,095		198,723		255,076
Other	24,762		20,971		50,138		35,526
Total net sales	$	300,002	$	462,218	$	708,743	$	895,920

Segment operating income (loss)
Titleist golf balls	$	10,048	$	37,972	$	13,291	$	57,700
Titleist golf clubs	(2,361)		6,865		2,142		6,460
Titleist golf gear	4,659		9,066		13,524		18,217
FootJoy golf wear	(1,855)		4,156		12,442		24,300
Other	2,667		5,147		3,747		8,587
Total segment operating income	13,158		63,206		45,146		115,264
Reconciling items:
Interest expense, net	(4,402)		(5,213)		(8,525)		(10,096)
Restructuring charges	(1,104)		—		(12,732)		—
Non-service cost component of net periodic benefit cost	(4,698)		(1,254)		(5,205)		(992)
Transaction fees	—		(1,947)		—		(1,947)
Other	201		349		1,086		1,226
Total income before income tax	$	3,155	$	55,141	$	19,770	$	103,455

Schedule of net sales by geographical area

Information as to the Company’s operations in different geographical areas is presented below. Net sales are categorized based on the location in which the sale originates.


	Three months ended June 30,						Six months ended June 30,
(in thousands)	2020		2019		2020		2019
United States	$	145,230	$	256,267	$	356,238	$	486,650
EMEA ⁽¹⁾	34,126		60,001		108,797		131,079
Japan	22,142		38,813		59,698		79,548
Korea	65,889		60,410		116,338		109,452
Rest of world	32,615		46,727		67,672		89,191
Total net sales	$	300,002	$	462,218	$	708,743	$	895,920

_______________________________________________________________________________

(1) Europe, the Middle East and Africa ("EMEA")

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of purchase obligations

The Company's purchase obligations as of June 30, 2020 were as follows:


	Payments Due by Period
	Remainder of
(in thousands)	2020		2021		2022		2023		2024		Thereafter
Purchase obligations ⁽¹⁾	$	150,118	$	19,205	$	4,124	$	673	$	470	$	1,603

_______________________________________________________________________________

(1) The reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the unaudited condensed consolidated balance sheet as of June 30, 2020.

Restructuring and Related Activities (Tables)

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Schedule of company's restructuring programs

The activity related to the Company’s restructuring programs was as follows:


	Three months ended June 30, 2020						Six months ended June 30, 2020
(in thousands)	VBR		Other		VBR		Other
Balance at beginning of period	$	11,249	$	288	$	—	$	—
Provision	—		1,104		11,249		1,483
Payments	(1,124)		(539)		(1,124)		(630)
Foreign currency translation and other	215		3		215		3
Balance at end of period	$	10,340	$	856	$	10,340	$	856

The restructuring program liabilities recognized on the unaudited condensed consolidated balance sheets were as follows:

(in thousands)

June 30,

Balance Sheet Location

Restructuring Program

2020

Accrued compensation and benefits

VBR

$

8,447

Other

856

Other noncurrent liabilities

VBR

1,893

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Variable Interest Entity [Line Items]
Loan to minority shareholders included in temporary equity	$ 4,400,000		$ 4,400,000		$ 4,400,000
Restricted cash	2,100,000		2,100,000		2,000,000.0
Transaction gains (losses) included in selling, general and administrative expense	2,600,000	$ (100,000)	$ 1,600,000	$ 400,000
VIE
Variable Interest Entity [Line Items]
Ownership percentage			40.00%
Outstanding borrowings	$ 0		$ 0		$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Summary of Significant Accounting Policies - Activity Related to the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 5,782	$ 5,338
Bad debt expense	1,792	2,708
Amount of receivables recovered (written off)	12
Amount of receivables recovered (written off)		(274)
Foreign currency translation and other	157	(29)
Balance at end of period	$ 7,743	$ 7,743

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 77,509	$ 87,675
Work-in-process	19,080	22,024
Finished goods	267,196	288,669
Inventories	$ 363,785	$ 398,368

Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Product Warranty (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Activity for accrued warranty expense
Balance at beginning of period	$ 4,149	$ 3,548	$ 4,048	$ 3,331
Provision	121	2,014	1,330	3,088
Claims paid/costs incurred	(786)	(1,949)	(1,730)	(2,825)
Foreign currency translation and other	110	(33)	(54)	(14)
Balance at end of period	$ 3,594	$ 3,580	$ 3,594	$ 3,580
Minimum
Product Warranty Liability [Line Items]
Product warranty period			1 year
Maximum
Product Warranty Liability [Line Items]
Product warranty period			2 years

Debt and Financing Arrangements (Details)	Jul. 03, 2020 USD ($)	Apr. 01, 2020 USD ($)	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Line of Credit Facility [Line Items]
Proceeds from revolving credit facility		$ 200,000,000.0
Unsecured Local Credit Facilities
Line of Credit Facility [Line Items]
Weighted average interest rate									2.37%	2.29%
Available borrowings									$ 59,300,000
Other short-term borrowings, outstanding borrowings									6,800,000	$ 3,800,000
Subsequent Event \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Variable rate of interest	0.00%
Subsequent Event \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Variable rate of interest	1.50%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Outstanding borrowings									$ 173,800,000	$ 50,300,000
Weighted average interest rate									1.46%	3.54%
Available borrowings									$ 219,600,000
Revolving Credit Facility \| Letters of Credit
Line of Credit Facility [Line Items]
Outstanding borrowings									6,600,000
Revolving Credit Facility \| Subsequent Event
Line of Credit Facility [Line Items]
Maximum commitment	$ 150,000,000.0
Revolving credit facility term	364 days
Letters of Credit
Line of Credit Facility [Line Items]
Outstanding borrowings									10,300,000	$ 14,800,000
Maximum commitment									60,100,000	59,800,000
Line of credit secured									$ 7,100,000	$ 11,600,000
Letters of Credit \| Forecast
Line of Credit Facility [Line Items]
Secured leverage ratio			3.50	4.00	4.50	6.50	6.50	5.50
Letters of Credit \| Subsequent Event
Line of Credit Facility [Line Items]
Secured leverage ratio	3.50
Leverage ratio basis spread	0.75%
Revolving credit facility aggregate principal amount	$ 225,000,000.0
Net average secured leverage ratio	2.25
Letters of Credit \| Subsequent Event \| Minimum
Line of Credit Facility [Line Items]
Leverage ratio basis spread	0.15%
Letters of Credit \| Subsequent Event \| Maximum
Line of Credit Facility [Line Items]
Leverage ratio basis spread	0.45%
Letters of Credit \| Subsequent Event \| Weighted Average
Line of Credit Facility [Line Items]
Leverage ratio basis spread	0.30%
Letters of Credit \| Subsequent Event \| CDOR \| Minimum
Line of Credit Facility [Line Items]
Leverage ratio basis spread	1.00%
Variable rate of interest	1.00%
Letters of Credit \| Subsequent Event \| CDOR \| Maximum
Line of Credit Facility [Line Items]
Leverage ratio basis spread	1.75%
Variable rate of interest	2.50%
Letters of Credit \| Subsequent Event \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Variable rate of interest	0.00%
Letters of Credit \| Subsequent Event \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Variable rate of interest	0.75%

Derivative Instruments and Hedging Activities - Narrative (Details)	6 Months Ended
	Jun. 30, 2020 USD ($) derivative	Dec. 31, 2019 USD ($) derivative
Foreign exchange forward
Derivatives, Fair Value [Line Items]
Expected reclassification of gain (loss) recorded in accumulated other comprehensive loss, net of tax into cost of goods sold during next twelve months	$ 4,800,000
Foreign exchange forward \| Derivative designated as hedging
Derivatives, Fair Value [Line Items]
Notional amount	256,100,000	$ 287,900,000
Foreign exchange forward \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount of hedges deemed ineffective	$ 1,800,000
Number of outstanding contracts \| derivative	0	0
Foreign exchange forward \| Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract	24 months
Interest rate swap
Derivatives, Fair Value [Line Items]
Expected reclassification of gain (loss) recorded in accumulated other comprehensive loss, net of tax into cost of goods sold during next twelve months	$ (3,500,000)
Interest rate swap \| Derivative designated as hedging
Derivatives, Fair Value [Line Items]
Notional amount	$ 140,000,000.0	$ 160,000,000.0

Derivative Financial Instruments - Fair Value of Hedge Instruments in Unaudited Condensed Consolidated Balance Sheets (Details) - Derivative Designated as Hedging - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Foreign exchange forward \| Prepaid and other assets
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 3,800	$ 4,549
Asset hedges deemed ineffective	100
Foreign exchange forward \| Other assets
Derivatives, Fair Value [Line Items]
Asset derivatives	924	1,109
Foreign exchange forward \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	1,553	2,561
Foreign exchange forward \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	297	115
Interest rate swap \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	3,498	1,862
Interest rate swap \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 0	$ 789

Derivative Instruments and Hedging Activities - Effect of Hedge Instruments in Unaudited Condensed Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gains (losses) arising during period	$ (5,794)	$ (1,406)	$ 1,608	$ (47)
Cash flow hedge \| Derivative designated as hedging
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gains (losses) arising during period	(5,794)	(1,406)	1,608	(47)
Foreign exchange forward \| Cash flow hedge \| Derivative designated as hedging
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gains (losses) arising during period	(5,637)	107	3,830	2,194
Interest rate swap \| Cash flow hedge \| Derivative designated as hedging
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gains (losses) arising during period	$ (157)	$ (1,513)	$ (2,222)	$ (2,241)

Derivative Financial Instruments - Effect of Hedge Instruments in Unaudited Condensed Comprehensive Income (Loss) And Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (loss) reclassified out of accumulated other comprehensive loss, net of tax related to hedges deemed ineffective	$ (881)	$ 2,827	$ 843	$ 4,276
Derivative designated as hedging \| Foreign exchange forward
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on unaudited condensed consolidated statements of operations	(1,831)	3,124	1,245	4,416
Derivative designated as hedging \| Foreign exchange forward \| Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on unaudited condensed consolidated statements of operations	232	2,993	1,774	4,599
Derivative designated as hedging \| Foreign exchange forward \| Selling, general and administrative
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on unaudited condensed consolidated statements of operations	(2,063)	131	(529)	(183)
Net gains (loss) reclassified out of accumulated other comprehensive loss, net of tax related to hedges deemed ineffective	(200)		400
Derivative designated as hedging \| Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on unaudited condensed consolidated statements of operations	(902)	(166)	(1,380)	(323)
Derivative designated as hedging \| Interest rate swap \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on unaudited condensed consolidated statements of operations	$ (902)	$ (166)	$ (1,380)	$ (323)

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Level 1
Assets
Total assets	$ 6,925	$ 6,940
Liabilities
Total liabilities	825	870
Level 2
Assets
Total assets	4,736	5,658
Liabilities
Total liabilities	5,350	5,327
Level 3
Assets
Total assets	0	0
Liabilities
Total liabilities	0	0
Prepaid and other assets \| Level 1
Assets
Rabbi trust	6,100	6,070
Prepaid and other assets \| Level 2
Assets
Rabbi trust	0	0
Prepaid and other assets \| Level 3
Assets
Rabbi trust	0	0
Prepaid and other assets \| Foreign exchange derivative instruments \| Level 1
Assets
Derivative instruments	0	0
Prepaid and other assets \| Foreign exchange derivative instruments \| Level 2
Assets
Derivative instruments	3,812	4,549
Prepaid and other assets \| Foreign exchange derivative instruments \| Level 3
Assets
Derivative instruments	0	0
Other assets \| Level 1
Assets
Deferred compensation program assets	825	870
Other assets \| Level 2
Assets
Deferred compensation program assets	0	0
Other assets \| Level 3
Assets
Deferred compensation program assets	0	0
Other assets \| Foreign exchange derivative instruments \| Level 1
Assets
Derivative instruments	0	0
Other assets \| Foreign exchange derivative instruments \| Level 2
Assets
Derivative instruments	924	1,109
Other assets \| Foreign exchange derivative instruments \| Level 3
Assets
Derivative instruments	0	0
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 1
Liabilities
Derivative instruments	0	0
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 2
Liabilities
Derivative instruments	1,555	2,561
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 3
Liabilities
Derivative instruments	0	0
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 1
Liabilities
Derivative instruments	0	0
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 2
Liabilities
Derivative instruments	3,498	1,862
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 3
Liabilities
Derivative instruments	0	0
Other noncurrent liabilities \| Level 1
Liabilities
Deferred compensation program liabilities	825	870
Other noncurrent liabilities \| Level 2
Liabilities
Deferred compensation program liabilities	0	0
Other noncurrent liabilities \| Level 3
Liabilities
Deferred compensation program liabilities	0	0
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 1
Liabilities
Derivative instruments	0	0
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 2
Liabilities
Derivative instruments	297	115
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 3
Liabilities
Derivative instruments	$ 0	0
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 1
Liabilities
Derivative instruments		0
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 2
Liabilities
Derivative instruments		789
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 3
Liabilities
Derivative instruments		$ 0

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Pension Benefits
Components of net periodic benefit cost (income)
Service cost	$ 2,462	$ 1,880	$ 4,778	$ 4,122
Interest cost	2,538	2,808	5,050	5,788
Expected return on plan assets	(2,902)	(3,257)	(5,805)	(6,556)
Settlement expense	3,850	1,775	3,850	1,775
Amortization of net loss (gain)	1,343	129	2,307	401
Amortization of prior service cost (credit)	69	48	139	92
Net periodic benefit cost (income)	7,360	3,383	10,319	5,622
Postretirement Benefits
Components of net periodic benefit cost (income)
Service cost	129	126	300	287
Interest cost	104	140	216	278
Expected return on plan assets	0	0	0	0
Settlement expense	0	0	0	0
Amortization of net loss (gain)	(270)	(355)	(484)	(718)
Amortization of prior service cost (credit)	(34)	(34)	(68)	(68)
Net periodic benefit cost (income)	$ (71)	$ (123)	$ (36)	$ (221)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Decrease in income tax expense	$ 16,800		$ 21,500
Income tax (benefit) expense	$ (598)	$ 16,239	$ 7,042	$ 28,514
Effective tax rate	(19.00%)	29.40%	35.60%	27.60%

- Definition

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

+ References + Details

Common Stock - Dividends and Share Repurchase Program (Details) - USD ($)	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Aug. 05, 2020
Equity [Abstract]
Dividends per Common Share (in dollars per share)	$ 0.155	$ 0.155	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.31		$ 0.56
Amount (in thousands)	$ 11,761,000	$ 11,735,000	$ 10,718,000	$ 10,726,000	$ 10,751,000	$ 10,782,000	$ 23,496,000	$ 21,533,000	$ 42,977,000
Dividends Payable [Line Items]
Issued and outstanding common stock authorized to repurchase	100,000,000.0						100,000,000.0
Aggregate purchases of shares in open market before shares will be purchased from Magnus	$ 24,900,000						$ 24,900,000
Shares repurchased (in shares)	0				253,385		243,894	253,385
Amount remaining under current authorizations	$ 63,700,000						$ 63,700,000
Magnus
Dividends Payable [Line Items]
Share repurchase liability	8,800,000		$ 1,800,000				$ 8,800,000		$ 1,800,000
Shares repurchased (in shares)							299,894		56,000
Amount remaining under current authorizations	$ 11,100,000						$ 11,100,000
Subsequent Event
Dividends Payable [Line Items]
Dividends declared and payable (in dollars per share)										$ 0.155

Common Stock - Schedule of Share Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Equity [Abstract]
Shares repurchased (in shares)	0	253,385	243,894	253,385
Average price (in dollars per share)	$ 0	$ 24.38	$ 28.60	$ 24.38
Aggregate value	$ 0	$ 6,178	$ 6,976	$ 6,178
Magnus
Dividends Payable [Line Items]
Shares repurchased (in shares)	0		0

Equity Incentive Plans - Narrative (Details) $ in Millions	6 Months Ended
Equity Incentive Plans - Narrative (Details) $ in Millions	Jun. 30, 2020 USD ($)
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 19.6
Weighted average period	2 years 1 month 6 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unrecognized compensation expense	$ 6.3
Weighted average period	2 years 7 months 6 days
Minimum \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
Maximum \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
Company officers \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Vesting percentage	33.33%
Officers, employees, consultants and advisors \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Equity Incentive Plans - Restricted Stock and Performance Stock Units (Details) - 2015 Omnibus Incentive Plan	6 Months Ended
	Jun. 30, 2020 $ / shares shares
RSUs
Number of Units
Outstanding at beginning of the period (in shares)	947,243
Granted (in shares)	518,831
Vested (in shares)	(94,029)
Forfeited (in shares)	(39,979)
Outstanding at end of the period (in shares)	1,332,066
Weighted - Average Fair Value
Outstanding at beginning of the period (in dollars per share) \| $ / shares	$ 23.49
Granted (in dollars per share) \| $ / shares	25.91
Vested (in dollars per share) \| $ / shares	25.19
Forfeited (in dollars per share) \| $ / shares	24.09
Outstanding at end of the period (in dollars per share) \| $ / shares	$ 24.29
Undelivered (in shares)	74,442
PSUs
Number of Units
Outstanding at beginning of the period (in shares)	207,077
Granted (in shares)	252,031
Vested (in shares)	(789)
Forfeited (in shares)	0
Outstanding at end of the period (in shares)	458,319
Weighted - Average Fair Value
Outstanding at beginning of the period (in dollars per share) \| $ / shares	$ 23.47
Granted (in dollars per share) \| $ / shares	25.45
Vested (in dollars per share) \| $ / shares	25.45
Forfeited (in dollars per share) \| $ / shares	0
Outstanding at end of the period (in dollars per share) \| $ / shares	$ 24.55
Undelivered (in shares)	0

Equity Incentive Plans - Summary of Shares of Common Stock Issued (Details) - 2015 Omnibus Incentive Plan - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
RSUs
Class of Stock [Line Items]
Cumulative undelivered shares of common stock (in shares)	74,442
PSUs
Class of Stock [Line Items]
Cumulative undelivered shares of common stock (in shares)	0
Common Stock \| RSUs
Class of Stock [Line Items]
Shares of common stock issued (in shares)	52,512	401,986
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations (in shares)	(16,973)	(123,013)
Net shares of common stock issued (in shares)	35,539	278,973
Cumulative undelivered shares of common stock (in shares)	262,568	177,249
Common Stock \| PSUs
Class of Stock [Line Items]
Shares of common stock issued (in shares)	789	900,226
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations (in shares)	(269)	(325,246)
Net shares of common stock issued (in shares)	520	574,980
Cumulative undelivered shares of common stock (in shares)	0	0

Equity Incentive Plans - Compensation Expense Recorded in the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 4,216	$ 3,601	$ 6,403	$ 5,386
RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	3,787	3,170	6,265	4,740
PSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 265	$ 431	$ (190)	$ 646

Equity Incentive Plans - Allocation of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	$ 4,216	$ 3,601	$ 6,403	$ 5,386
Income tax benefit	849	746	1,312	1,136
Total compensation expense, net of income tax	3,367	2,855	5,091	4,250
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	403	194	628	361
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	3,575	3,174	5,289	4,641
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	$ 238	$ 233	$ 486	$ 384

Accumulated Other Comprehensive Loss, Net of Tax (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 950,826
Other comprehensive income (loss) before reclassifications	(2,810)
Amounts reclassified from accumulated other comprehensive loss, net of tax	4,901
Tax benefit (expense)	(1,636)
Ending balance	932,971
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(71,187)
Other comprehensive income (loss) before reclassifications	(4,740)
Amounts reclassified from accumulated other comprehensive loss, net of tax	0
Tax benefit (expense)	0
Ending balance	(75,927)
Gains (Losses) on Derivative Instruments \| Foreign Exchange Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,901
Other comprehensive income (loss) before reclassifications	3,830
Amounts reclassified from accumulated other comprehensive loss, net of tax	(2,223)
Tax benefit (expense)	(389)
Ending balance	4,119
Gains (Losses) on Derivative Instruments \| Interest Rate Swap Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,003)
Other comprehensive income (loss) before reclassifications	(2,222)
Amounts reclassified from accumulated other comprehensive loss, net of tax	1,380
Tax benefit (expense)	204
Ending balance	(2,641)
Pension and Other Postretirement Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(41,739)
Other comprehensive income (loss) before reclassifications	322
Amounts reclassified from accumulated other comprehensive loss, net of tax	5,744
Tax benefit (expense)	(1,451)
Ending balance	(37,124)
Accumulated Other Comprehensive Loss, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(112,028)
Ending balance	$ (111,573)

Net Income per Common Share - Computation of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to Acushnet Holdings Corp.	$ 2,313	$ 38,488	$ 11,190	$ 73,414
Weighted average number of common shares:
Basic (in shares)	74,252,981	75,618,717	74,394,967	75,811,780
Diluted (in shares)	74,875,219	75,858,114	74,983,411	76,060,003
Net income per common share attributable to Acushnet Holdings Corp.:
Basic (in dollars per share)	$ 0.03	$ 0.51	$ 0.15	$ 0.97
Diluted (in dollars per share)	$ 0.03	$ 0.51	$ 0.15	$ 0.97

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

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

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+ Details

Net Income per Common Share - Calculation of Diluted Weighted Average Common Shares Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
RSUs
Securities excluded from calculation of diluted weighted-average common shares outstanding as their impact was anti-dilutive (in shares)	0	0	0	2,025

Segment Information - Reconciliation (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) segment	Jun. 30, 2019 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			4
Segment Reporting Information [Line Items]
Total net sales	$ 300,002	$ 462,218	$ 708,743	$ 895,920
Segment operating income (loss)	11,731	61,135	33,159	113,362
Reconciling items:
Interest expense, net	(4,402)	(5,213)	(8,525)	(10,096)
Restructuring charges	(1,104)	0	(12,732)	0
Income before income taxes	3,155	55,141	19,770	103,455
Other
Segment Reporting Information [Line Items]
Total net sales	24,762	20,971	50,138	35,526
Segment operating income (loss)	2,667	5,147	3,747	8,587
Operating segments and other
Segment Reporting Information [Line Items]
Segment operating income (loss)	13,158	63,206	45,146	115,264
Reconciling Items
Reconciling items:
Interest expense, net	(4,402)	(5,213)	(8,525)	(10,096)
Restructuring charges	(1,104)	0	(12,732)	0
Non-service cost component of net periodic benefit cost	(4,698)	(1,254)	(5,205)	(992)
Transaction fees	0	(1,947)	0	(1,947)
Other	201	349	1,086	1,226
Titleist golf balls \| Operating segments
Segment Reporting Information [Line Items]
Total net sales	102,139	173,305	218,378	314,972
Segment operating income (loss)	10,048	37,972	13,291	57,700
Titleist golf clubs \| Operating segments
Segment Reporting Information [Line Items]
Total net sales	72,396	107,010	165,610	198,328
Segment operating income (loss)	(2,361)	6,865	2,142	6,460
Titleist golf gear \| Operating segments
Segment Reporting Information [Line Items]
Total net sales	32,369	46,837	75,894	92,018
Segment operating income (loss)	4,659	9,066	13,524	18,217
FootJoy golf wear \| Operating segments
Segment Reporting Information [Line Items]
Total net sales	68,336	114,095	198,723	255,076
Segment operating income (loss)	$ (1,855)	$ 4,156	$ 12,442	$ 24,300

Segment Information - Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 300,002	$ 462,218	$ 708,743	$ 895,920
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	145,230	256,267	356,238	486,650
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	34,126	60,001	108,797	131,079
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	22,142	38,813	59,698	79,548
Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	65,889	60,410	116,338	109,452
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 32,615	$ 46,727	$ 67,672	$ 89,191

- 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.

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+ Details

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Payments Due by Period
Remainder of 2020	$ 150,118
2021	19,205
2022	4,124
2023	673
2024	470
Thereafter	$ 1,603

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Estimated receivable for indemnifications	$ 9.7	$ 9.5

Restructuring Charges - Schedule of Company's Restructuring Program Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Reserve [Roll Forward]
Provision	$ 1,104	$ 0	$ 12,732	$ 0
VBR
Restructuring Reserve [Roll Forward]
Balance at beginning of period	11,249		0
Provision	0		11,249
Payments	(1,124)		(1,124)
Foreign currency translation and other	215		215
Balance at end of period	10,340		10,340
Other
Restructuring Reserve [Roll Forward]
Balance at beginning of period	288		0
Provision	1,104		1,483
Payments	(539)		(630)
Foreign currency translation and other	3		3
Balance at end of period	$ 856		$ 856

Restructuring Charges - Restructuring Liabilities Recognized on Balance Sheet (Details) $ in Thousands	Jun. 30, 2020 USD ($)
VBR
Restructuring Cost and Reserve [Line Items]
Accrued compensation and benefits	$ 8,447
Other noncurrent liabilities	1,893
Other
Restructuring Cost and Reserve [Line Items]
Accrued compensation and benefits	$ 856