Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 03, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Acushnet Holdings Corp.
Entity Central Index Key	0001672013
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		75,608,862

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and restricted cash ($11,168 and $8,436 attributable to the variable interest entity (VIE))	$ 44,877	$ 31,014
Accounts receivable, net	333,929	186,114
Inventories ($6,756 and $9,658 attributable to the VIE)	346,399	361,207
Other assets	87,430	85,666
Total current assets	812,635	664,001
Property, plant and equipment, net ($11,335 and $11,615 attributable to the VIE)	223,824	228,388
Goodwill ($32,312 and $32,312 attributable to the VIE)	210,177	209,671
Intangible assets, net	476,556	478,257
Deferred income taxes	71,759	78,028
Other assets ($2,583 and $2,593 attributable to the VIE)	82,339	33,276
Total assets	1,877,290	1,691,621
Current liabilities
Short-term debt	141,604	920
Current portion of long-term debt	35,625	35,625
Accounts payable ($4,731 and $6,882 attributable to the VIE)	88,730	86,045
Accrued taxes	30,275	38,268
Accrued compensation and benefits ($1,180 and $1,634 attributable to the VIE)	59,852	77,181
Accrued expenses and other liabilities ($2,804 and $3,462 attributable to the VIE)	73,917	56,828
Total current liabilities	430,003	294,867
Long-term debt and capital lease obligations	338,274	346,953
Deferred income taxes	4,611	4,635
Accrued pension and other postretirement benefits	104,226	102,077
Other noncurrent liabilities ($5,063 and $4,831 attributable to the VIE)	53,539	16,105
Total liabilities	930,653	764,637
Commitments and contingencies (Note 15)
Shareholders' equity
Common stock, $0.001 par value, 500,000,000 shares authorized; 75,604,091 and 74,760,062 shares issued and outstanding	76	75
Additional paid-in capital	901,749	910,890
Accumulated other comprehensive loss, net of tax	(85,503)	(89,039)
Retained earnings	97,090	72,946
Total equity attributable to Acushnet Holdings Corp.	913,412	894,872
Noncontrolling interests	33,225	32,112
Total shareholders' equity	946,637	926,984
Total liabilities and shareholders' equity	$ 1,877,290	$ 1,691,621

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Cash and restricted cash	$ 44,877	$ 31,014
Inventories	346,399	361,207
Property, plant and equipment, net	223,824	228,388
Goodwill	210,177	209,671
Other assets	82,339	33,276
Accounts payable	88,730	86,045
Accrued compensation and benefits	59,852	77,181
Accrued expenses and other liabilities	73,917	56,828
Other noncurrent liabilities	$ 53,539	$ 16,105
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)	75,604,091	74,760,062
Common stock, shares outstanding (in shares)	75,604,091	74,760,062
VIE
Cash and restricted cash	$ 11,168	$ 8,436
Inventories	6,756	9,658
Property, plant and equipment, net	11,335	11,615
Goodwill	32,312	32,312
Other assets	2,583	2,593
Accounts payable	4,731	6,882
Accrued compensation and benefits	1,180	1,634
Accrued expenses and other liabilities	2,804	3,462
Other noncurrent liabilities	$ 5,063	$ 4,831

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 433,702	$ 441,801
Cost of goods sold	211,545	214,127
Gross profit	222,157	227,674
Operating expenses:
Selling, general and administrative	155,426	151,368
Research and development	12,751	12,392
Intangible amortization	1,753	1,630
Income from operations	52,227	62,284
Interest expense, net	4,883	4,408
Other income, net	(970)	(434)
Income before income taxes	48,314	58,310
Income tax expense	12,275	15,220
Net income	36,039	43,090
Less: Net income attributable to noncontrolling interests	(1,113)	(1,606)
Net income attributable to Acushnet Holdings Corp.	$ 34,926	$ 41,484
Net income per common share attributable to Acushnet Holdings Corp.:
Basic (in dollars per share)	$ 0.46	$ 0.56
Diluted (in dollars per share)	$ 0.46	$ 0.55
Weighted average number of common shares:
Basic (in shares)	76,006,989	74,650,237
Diluted (in shares)	76,264,038	74,793,823

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 36,039	$ 43,090
Other comprehensive income (loss):
Foreign currency translation adjustments	3,842	11,913
Cash flow derivative instruments
Unrealized holding gains (losses) arising during period	1,359
Unrealized holding gains (losses) arising during period		(7,081)
Reclassification adjustments included in net income	(1,449)
Reclassification adjustments included in net income		708
Tax (expense) benefit	(70)
Tax (expense) benefit		2,113
Cash flow derivative instruments, net	(160)
Cash flow derivative instruments, net		(4,260)
Pension and other postretirement benefits
Pension and other postretirement benefits adjustments	(203)	34
Tax benefit (expense)	57	(6)
Pension and other postretirement benefits adjustments, net	(146)	28
Total other comprehensive income	3,536	7,681
Comprehensive income	39,575	50,771
Less: Comprehensive income attributable to noncontrolling interests	(1,113)	(1,606)
Comprehensive income attributable to Acushnet Holdings Corp.	$ 38,462	$ 49,165

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 36,039	$ 43,090
Adjustments to reconcile net income to cash used in operating activities
Depreciation and amortization	9,797	10,325
Unrealized foreign exchange gain	(61)	(1,681)
Amortization of debt issuance costs	369	331
Share-based compensation	1,785	4,126
Deferred income taxes	5,889	6,369
Changes in operating assets and liabilities
Accounts receivable	(146,894)	(152,626)
Inventories	17,373	7,457
Accounts payable	4,491	(765)
Accrued taxes	(7,941)	2,084
Other assets and liabilities	(10,912)	(5,542)
Cash flows used in operating activities	(90,065)	(86,832)
Cash flows from investing activities
Additions to property, plant and equipment	(5,462)	(5,887)
Business acquisitions, net of cash acquired	0	(2,496)
Cash flows used in investing activities	(5,462)	(8,383)
Cash flows from financing activities
Proceeds from short-term borrowings, net	140,778	113,293
Repayments of delayed draw term loan A facility	(1,875)	(1,250)
Repayment of term loan facilities	(7,031)	(4,688)
Dividends paid on common stock	(11,872)	(9,898)
Payment of employee restricted stock tax withholdings	(10,924)	(2,634)
Cash flows provided by financing activities	109,076	94,823
Effect of foreign exchange rate changes on cash	314	1,040
Net increase in cash	13,863	648
Cash and restricted cash, beginning of year	31,014	47,722
Cash and restricted cash, end of period	44,877	48,370
Supplemental information
Non-cash additions to property, plant and equipment	222	774
Dividends declared to noncontrolling interests but not paid	0	2,400
Dividend equivalents rights (DERs) declared not paid	$ 198	$ 201

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	Noncontrolling Interests
Beginning balance at Dec. 31, 2017	$ 853,973	$ 821,309	$ 74	$ 894,727	$ (81,691)	$ 8,199	$ 32,664
Beginning balance (in shares) at Dec. 31, 2017			74,479
Changes in stockholders' equity
Net income	43,090	41,484				41,484	1,606
Other comprehensive income	7,681	7,681			7,681
Share-based compensation	4,357	4,357		4,357
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 11)	(2,633)	(2,633)	$ 1	(2,634)
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 11) (in shares)			265
Dividends and dividend equivalents declared	(9,917)	(9,917)				(9,917)
Dividends declared to noncontrolling interests	(2,400)						(2,400)
Ending balance at Mar. 31, 2018	892,650	860,780	$ 75	896,450	(80,142)	44,397	31,870
Ending balance (in shares) at Mar. 31, 2018			74,744
Beginning balance at Dec. 31, 2017	853,973	821,309	$ 74	894,727	(81,691)	8,199	32,664
Beginning balance (in shares) at Dec. 31, 2017			74,479
Changes in stockholders' equity
Dividends and dividend equivalents declared	(39,756)
Ending balance at Dec. 31, 2018	926,984	894,872	$ 75	910,890	(89,039)	72,946	32,112
Ending balance (in shares) at Dec. 31, 2018			74,760
Changes in stockholders' equity
Net income	36,039	34,926				34,926	1,113
Other comprehensive income	3,536	3,536			3,536
Share-based compensation	1,785	1,785		1,785
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 11)	(10,925)	(10,925)	$ 1	(10,926)
Vesting of restricted common stock, including impact of DERs, net of shares withheld for employee taxes (Note 11) (in shares)			844
Dividends and dividend equivalents declared	(10,782)	(10,782)				(10,782)
Ending balance at Mar. 31, 2019	$ 946,637	$ 913,412	$ 76	$ 901,749	$ (85,503)	$ 97,090	$ 33,225
Ending balance (in shares) at Mar. 31, 2019			75,604

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 (the “SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the 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 months ended March 31, 2019 are not necessarily indicative of results to be expected for the full year ending December 31, 2019, nor were those of the comparable 2018 period representative of those actually experienced for the full year ended December 31, 2018. 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, 2018 included in its Annual Report on Form 10-K filed with the SEC on February 28, 2019. Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets, liabilities, shareholders’ equity, net sales and expenses, and the disclosure of contingent assets and liabilities in its unaudited condensed consolidated financial statements. Actual results could differ from those estimates. Variable Interest Entities VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) through its interests in the VIE, the obligation to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE. The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE, which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the VIE have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of March 31, 2019 and December 31, 2018. 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 The ownership interest held by owners other than the Company in less than wholly-owned subsidiaries are classified as noncontrolling interests. The value attributable to the noncontrolling interests is presented on the unaudited condensed consolidated balance sheets within shareholders' equity, separately from the equity attributable to the Company. 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. The Company's less than wholly-owned subsidiaries include a VIE, as discussed above, and PG Professional Golf, which was acquired on October 1, 2018. 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 both March 31, 2019 and December 31, 2018, the amount of restricted cash included in cash and restricted cash on the balance sheet was $2.0 million. Accounts Receivable As of March 31, 2019 and December 31, 2018, the allowance for doubtful accounts was $8.1 million and $7.3 million, respectively. Foreign Currency Translation and Transactions Foreign currency transaction gains included in selling, general and administrative expense were $0.5 million and $2.0 million for the three months ended March 31, 2019 and 2018, respectively. Recently Adopted Accounting Standards Leases On January 1, 2019, the Company adopted Accounting Standards Codification ("ASC") Topic 842, Leases ("ASC 842"), which requires the recognition of right-of-use assets and related operating and finance lease liabilities on the consolidated balance sheet. As permitted by ASC 842, the Company adopted ASC 842 using the optional transition approach, which allowed for a cumulative effect adjustment as of January 1, 2019, which is the date of initial application, and did not restate prior periods. As a result, the consolidated balance sheet prior to January 1, 2019 was not restated and continues to be reported under ASC Topic 840, Leases ("ASC 840"), which did not require the recognition of operating lease liabilities on the consolidated balance sheet, and is not comparative. Under ASC 842, all leases are required to be recorded on the consolidated balance sheet and are classified as either operating or finance leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset, the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or the leased asset is of a highly specialized nature. A lease is classified as an operating lease if it does not meet any one of these criteria. The lease classification affects the expense recognition in the consolidated statement of operations. Operating lease expense consists of the lease payments plus any initial direct costs and is recognized on a straight-line basis over the lease term in the consolidated statement of operations. Finance lease charges are split, where amortization of the right-of-use asset is recorded as depreciation and amortization expense and an implied interest component is recorded in interest expense, net. The expense recognition for operating leases and finance leases under ASC 842 is consistent with ASC 840. As a result, there is no impact on the results of operations presented in the Company's unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income for the periods presented as a result of the adoption of ASC 842. As permitted under ASC 842, the Company also elected to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019. As permitted under ASC 842, the Company elected to not use hindsight to determine lease terms and to not separate non-lease components within its lease portfolio. As permitted under ASC 842, the Company has also elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a term of 12 months or less. The effect of short-term leases on the Company's operating right-of-use assets and operating lease liabilities was not material. Upon adoption of ASC 842, the Company recognized operating lease right-of-use assets and operating lease liabilities. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred less any lease incentives received. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. The discount rate implicit within the Company's leases is generally not determinable and therefore the Company determines the discount rate based on its incremental collateralized borrowing rate applicable to the location where the lease is held. The incremental borrowing rate for each of the Company's leases is determined based on the lease term and currency in which such lease payments are made. Accordingly, upon adoption, the Company recorded an adjustment of $48.1 million to operating lease right-of-use assets and the related lease liabilities. The Company leases office and warehouse space, machinery and equipment, and vehicles, among other items. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 3 years. For contracts entered into on or after the effective date, at the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Company's assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtained the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether the Company has the right to direct the use of the asset. See further discussion in Note 2. Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") 2017‑12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” ("ASU 2017-12"). The amendments in this update expand and refine hedge accounting guidance and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. ASU 2017-12 also simplified the application of hedge accounting guidance, hedge documentation requirements and the assessment of hedge effectiveness. The adoption of this standard did not have a material impact on the consolidated financial statements. Changes to the Disclosure Requirements for Fair Value Measurement On January 1, 2019, the Company adopted ASU 2018-13, "Fair Value Measurement (Topic 820) —Disclosure Framework —Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). The amendments in this update are meant to provide more relevant information regarding valuation techniques and inputs used to arrive at measures of fair value, uncertainty in the fair value measurements, and how changes in fair value measurements impact an entity's performance and cash flows. The adoption of this standard should be applied to all periods presented. The adoption of this standard did not have an impact on the consolidated financial statements or related disclosures. Recently Issued Accounting Standards Intangibles —Goodwill and Other —Internal-Use Software In August 2018, the Financial Accounting Standards Board ("FASB") issued 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 align 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). ASU 2018-15 is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the 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.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

The Company's operating lease right-of-use assets and operating lease liabilities represent leases for office and warehouse space, machinery and equipment, and vehicles, among other items.

Operating lease costs recognized on the unaudited condensed consolidated statements of operations were as follows:



	Three months ended
(in thousands)	March 31, 2019
Cost of goods sold	$	821
Selling, general and administrative	2,882
Research and development	199
	$	3,902

Supplemental balance sheet information related to the Company's operating leases is as follows:



		March 31,
(in thousands)	Balance Sheet Location	2019

Right-of-use assets	Other noncurrent assets	$	48,054

Current lease liabilities	Accrued expenses and other liabilities	$	11,649
Noncurrent lease liabilities	Other noncurrent liabilities	36,405
	Total liabilities	$	48,054

The weighted average remaining lease term and the weighted average discount rate for operating leases as of March 31, 2019 was:



	Operating Leases
Weighted average remaining lease term (years)	5.9
Weighted average discount rate	3.42	%

The following table reconciles the undiscounted cash flows for operating leases as of March 31, 2019 to operating lease liabilities recorded on the unaudited condensed consolidated balance sheet:



	Operating
(in thousands)	Leases
Remainder of 2019	$	10,306
2020	11,720
2021	8,635
2022	5,845
2023	3,265
Thereafter	14,228
Total future lease payments	53,999
Less: Interest	(5,945		)
Present value of lease liabilities	$	48,054

Accrued expenses and other liabilities	$	11,649
Other noncurrent liabilities	36,405
Total lease liabilities	$	48,054

Future minimum rental payments under noncancelable operating leases as of December 31, 2018 were as follows:



(in thousands)
Year ending December 31,
2019	$	13,119
2020	11,053
2021	7,984
2022	5,345
2023	3,133
Thereafter	13,852
Total minimum rental payments	$	54,486

Supplemental cash flow information and non-cash activity related to the Company's operating leases are as follows:



	Three months ended
(in thousands)	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,604
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	1,635

Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

The components of inventories were as follows:



	March 31,		December 31,
(in thousands)	2019		2018
Raw materials and supplies	$	62,937	$	71,068
Work-in-process	26,161		21,763
Finished goods	257,301		268,376
Inventories	$	346,399	$	361,207

Product Warranty

3 Months Ended

Mar. 31, 2019

Product Warranties Disclosures [Abstract]

Product Warranty

The Company has defined warranties ranging from one to two years. Products covered by the defined warranty policies 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 March 31,
(in thousands)	2019			2018
Balance at beginning of period	$	3,331		$	3,823
Provision	1,074			1,195
Claims paid/costs incurred	(876		)	(913		)
Foreign currency translation	19			43
Balance at end of period	$	3,548		$	4,148

Debt and Financing Arrangements	3 Months Ended
Debt and Financing Arrangements	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt and Financing Arrangements	Debt and Financing Arrangements Senior Secured Credit Facility There were outstanding borrowings under the revolving credit facility of $129.0 million as of March 31, 2019. The weighted average interest rate applicable to the outstanding borrowings was 3.71% as of March 31, 2019. There were no outstanding borrowings under the revolving credit facility as of December 31, 2018. The credit agreement contains a number of covenants that, among other things, restrict the ability of the U.S. borrower and its restricted subsidiaries to (subject to certain exceptions), incur, assume, or permit to exist additional indebtedness or guarantees; incur liens; make investments and loans; pay dividends, make payments, or redeem or repurchase capital stock or make prepayments, repurchases or redemptions of certain indebtedness; engage in mergers, liquidations, dissolutions, asset sales, and other dispositions (including sale leaseback transactions); amend or otherwise alter terms of certain indebtedness or certain other agreements; enter into agreements limiting subsidiary distributions or containing negative pledge clauses; engage in certain transactions with affiliates; alter the nature of the business that they conduct or change their fiscal year or accounting practices. Certain exceptions to these covenants are determined based on ratios that are calculated in part using the calculation of Adjusted EBITDA. The credit agreement also restricts the ability of Acushnet Holdings Corp. to engage in certain mergers or consolidations or engage in any activities other than permitted activities. The Company’s credit agreement contains certain customary affirmative and restrictive covenants, including, among others, financial covenants based on the Company’s leverage and interest coverage ratios. The credit agreement includes customary events of default, the occurrence of which, following any applicable cure period, would permit the lenders to, among other things, declare the principal, accrued interest and other obligations to be immediately due and payable. As of March 31, 2019, the Company was in compliance with all covenants under the credit agreement. As of March 31, 2019, the Company had available borrowings under its revolving credit facility of $135.3 million after giving effect to $10.7 million of outstanding letters of credit. 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 $12.6 million and $0.9 million as of March 31, 2019 and December 31, 2018, respectively. The weighted average interest rate applicable to the outstanding borrowings was 0.97% and 3.25% as of March 31, 2019 and December 31, 2018, respectively. As of March 31, 2019, the Company had available borrowings remaining under these local credit facilities of $51.3 million. Letters of Credit As of March 31, 2019 and December 31, 2018, there were outstanding letters of credit related to agreements, including the Company's senior secured credit facility, totaling $14.9 million and $15.5 million, respectively, of which $11.8 million and $12.4 million was secured. These agreements provided a maximum commitment for letters of credit of $29.2 million as of both March 31, 2019 and December 31, 2018.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company principally uses derivative financial instruments to reduce the impact of changes in foreign currency exchange rates and interest rate fluctuations. 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 instruments contracts for trading or speculative purposes.

Foreign Exchange Derivative Instruments

Foreign exchange derivative instruments are foreign exchange forward contracts primarily used to hedge currency fluctuations related to inventory purchases not denominated in the functional currency of the non-U.S. subsidiary, thereby limiting currency risk that would otherwise result from changes in exchange rates. These instruments are considered cash flow hedges. The periods of the foreign exchange forward contracts correspond to the periods of the forecasted transactions, which do not exceed 24 months subsequent to the latest balance sheet date. The primary foreign exchange forward contracts pertain to the U.S. dollar, the Japanese yen, the British pound sterling, the Canadian dollar, the Korean won and the euro. The gross U.S. dollar equivalent notional amount outstanding of all foreign exchange forward contracts designated under hedge accounting as of March 31, 2019 and December 31, 2018 was $318.3 million and $312.8 million, respectively.

The Company also enters into foreign exchange forward contracts to mitigate the change in fair value of specific assets and liabilities which do not qualify as hedging instruments under U.S. GAAP. 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 March 31, 2019 and December 31, 2018.

Interest Rate Derivative Instruments

The Company enters into interest rate swap contracts to reduce the impact of variability in interest rates. Under the contracts, the Company pays fixed and receives variable rate interest, in effect converting a portion of its variable rate debt to fixed rate debt. The interest rate swap contracts are accounted for as cash flow hedges. As of March 31, 2019 and December 31, 2018, the notional value of the Company's outstanding interest rate swap contracts was $185.0 million.

Impact on Financial Statements

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



(in thousands)		March 31,		December 31,
Balance Sheet Location	Hedge Instrument Type	2019		2018
Other current assets	Foreign exchange forward	$	5,880	$	6,116
Other noncurrent assets	Foreign exchange forward	1,119		1,015
Accrued expenses and other liabilities	Foreign exchange forward	691		578
	Interest rate swap	773		526
Other noncurrent liabilities	Foreign exchange forward	132		161
	Interest rate swap	1,254		925

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



	Three months ended
	March 31,
(in thousands)	2019			2018
Type of hedge
Foreign exchange forward	$	2,087		$	(7,081	)
Interest rate swap	(728		)	—
	$	1,359		$	(7,081	)

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 transaction impacts the statement of operations. Based on the current valuation, the Company expects to reclassify a net gain of $6.2 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 $0.8 million related to interest rate derivative instruments from accumulated other comprehensive loss, net of tax into interest expense, net during the next 12 months. For further information related to amounts recognized in accumulated other comprehensive loss, net of tax, see Note 12.

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



	Three months ended
	March 31,
(in thousands)	2019			2018
Location of gain (loss) in statement of operations
Foreign exchange forward:
Cost of goods sold	$	1,606		$	(708	)
Selling, general and administrative ⁽¹⁾	(314		)	(668		)
Total	$	1,292		$	(1,376	)

Interest Rate Swap:
Interest expense, net	$	(157	)	$	—
Total	$	(157	)	$	—

_______________________________________________________________________________

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

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 and considers the risk of counterparty default to be minimal.

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 were as follows:



	Fair Value Measurements as of
	March 31, 2019 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	8,931	$	—	$	—	Other current assets
Foreign exchange derivative instruments	—		5,880		—		Other current assets
Deferred compensation program assets	1,183		—		—		Other noncurrent assets
Foreign exchange derivative instruments	—		1,119		—		Other noncurrent assets
Total assets	$	10,114	$	6,999	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	691	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		773		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	1,183		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		132		—		Other noncurrent liabilities
Interest rate derivative instruments	—		1,254		—		Other noncurrent liabilities
Total liabilities	$	1,183	$	2,850	$	—

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 were as follows:



	Fair Value Measurements as of
	December 31, 2018 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	8,415	$	—	$	—	Other current assets
Foreign exchange derivative instruments	—		6,116		—		Other current assets
Deferred compensation program assets	1,222		—		—		Other noncurrent assets
Foreign exchange derivative instruments	—		1,015		—		Other noncurrent assets
Total assets	$	9,637	$	7,131	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	578	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		526		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	1,222		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		161		—		Other noncurrent liabilities
Interest rate derivative instruments	—		925		—		Other noncurrent liabilities
Total liabilities	$	1,222	$	2,190	$	—

During the three months ended March 31, 2019 and the year ended December 31, 2018, there were no transfers between Level 1, Level 2 and Level 3 assets and liabilities.

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

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

Foreign exchange derivative instruments are foreign exchange forward contracts primarily used to limit currency risk that would otherwise result from changes in exchange rates (Note 6). The Company uses the mid‑price of foreign exchange forward rates as of the close of business on the valuation date to value each foreign exchange forward contract at each reporting period.

Interest rate derivative instruments are contracts used to hedge the interest rate fluctuations of the Company's variable rate debt (Note 6). 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

3 Months Ended

Mar. 31, 2019

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 March 31,
(in thousands)	2019			2018			2019			2018
Components of net periodic benefit cost (income)
Service cost	$	2,242		$	2,443		$	161		$	175
Interest cost	2,980			2,958			138			127
Expected return on plan assets	(3,299		)	(3,279		)	—			—
Settlement expense	—			8			—			—
Amortization of net loss (gain)	272			520			(363		)	(351		)
Amortization of prior service cost (credit)	44			44			(34		)	(34		)
Net periodic benefit cost (income)	$	2,239		$	2,694		$	(98	)	$	(83	)

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

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense decreased by $2.9 million to $12.3 million for the three months ended March 31, 2019 compared to $15.2 million for the three months ended March 31, 2018. The Company’s Effective Tax Rate ("ETR") was 25.4% for the three months ended March 31, 2019 compared to 26.1% for the three months ended March 31, 2018. The decrease in ETR was primarily driven by the discrete tax benefit realized in the first quarter of 2019 related to share based compensation expense, offset by amounts related to the U.S. Tax Cuts and Jobs Act of 2017 and changes to the Company's geographic mix of earnings.

Common Stock

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Common Stock

The Company declared dividends per common share, including DERs (Note 11), during the periods presented as follows:



(in thousands, except per share amounts)	Dividends per Common Share		Amount
2019:
First Quarter	$	0.14	$	10,782
Total dividends declared in 2019	$	0.14	$	10,782

2018:
Fourth Quarter	$	0.13	$	9,968
Third Quarter	0.13		9,954
Second Quarter	0.13		9,917
First Quarter	0.13		9,917
Total dividends declared in 2018	$	0.52	$	39,756

During the second quarter of 2019, the Company's Board of Directors ("Board of Directors") declared a dividend of $0.14 per common share to shareholders on record as of May 31, 2019 and payable on June 14, 2019.

The Board of Directors has authorized the Company to repurchase up to an aggregate of $50.0 million of its issued and outstanding common stock from time to time. Share repurchases may be effected 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 within the constraints of the Company’s credit agreement and the Company’s general working capital needs. As of March 31, 2019, there were no share repurchases made under this program.

Equity Incentive Plans

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [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"), performance stock units (“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 March 31, 2019, the only awards granted under the 2015 Plan were RSUs and PSUs.

RSUs granted to members of the Board of Directors vest immediately into shares of common stock. RSUs granted to Company officers and employees vest ratably and in accordance with the terms of the grant, generally over one to four 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 achievement of the applicable performance metrics, generally over three years and as defined in the award agreements. 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.

Restricted Stock and Performance Stock Units

A summary of the Company’s RSUs and PSUs as of March 31, 2019 and changes during the three 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, 2018	881,832		$	21.75	—	$	—
Granted	609,245		23.47		207,077	23.47
Vested	(475,823	)	20.25		—	—
Forfeited	(1,933	)	24.57		—	—
Outstanding as of March 31, 2019	1,013,321		$	23.48	207,077	$	23.47

Undelivered ⁽¹⁾	83,761				—

_______________________________________________________________________________

(1) Shares of common stock related to vestings occurring in 2019 that were not delivered as of March 31, 2019.

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:



	Three months ended		Three months ended
	March 31, 2019		March 31, 2018
	RSUs	PSUs	RSUs	PSUs
Shares of common stock issued ⁽¹⁾	392,062	900,226	388,012	—
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations	(123,013)	(325,246)	(122,795)	—
Net shares of common stock issued	269,049	574,980	265,217	—

Cumulative undelivered shares of common stock	147,251	—	—	—

______________________________________________________________________________

(1) Shares of common stock issued related to PSUs represents PSUs that vested in 2018 but were delivered in common stock during the three months ended March 31, 2019.

The remaining unrecognized compensation expense related to non-vested RSUs and non-vested PSUs granted was $20.3 million and $4.6 million, respectively, as of March 31, 2019 and is expected to be recognized over the related weighted average period of 2.5 years.

The allocation of compensation expense related to equity incentive plans in the unaudited condensed consolidated statements of operations was as follows:



	Three months ended
	March 31,
(in thousands)	2019		2018
Cost of goods sold	$	167	$	94
Selling, general and administrative	1,467		3,733
Research and development	151		299
Total compensation expense before income tax	1,785		4,126
Income tax benefit	390		853
Total compensation expense, net of income tax	$	1,395	$	3,273

Accumulated Other Comprehensive Loss, Net of Tax

3 Months Ended

Mar. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [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 6) and pension and other postretirement adjustments (Note 8).

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, 2018	$	(71,853	)	$	5,258		$	(1,098	)	$	(21,346	)	$	(89,039	)
Other comprehensive income (loss) before reclassifications	3,842			2,087			(728		)	(122		)	5,079
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(1,606		)	157			(81		)	(1,530		)
Tax benefit (expense)	—			(209		)	139			57			(13		)
Balance as of March 31, 2019	$	(68,011	)	$	5,530		$	(1,530	)	$	(21,492	)	$	(85,503	)

Net Income per Common Share

3 Months Ended

Mar. 31, 2019

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
	March 31,
(in thousands, except share and per share amounts)	2019		2018

Net income attributable to Acushnet Holdings Corp.	$	34,926	$	41,484

Weighted average number of common shares:
Basic	76,006,989		74,650,237
Diluted	76,264,038		74,793,823

Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$	0.46	$	0.56
Diluted	$	0.46	$	0.55

Net income per common share attributable to Acushnet Holdings Corp. for the three months ended March 31, 2019 and 2018 was calculated using the treasury stock method.

The Company’s potential dilutive securities for the three months ended March 31, 2019 and 2018 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 months ended March 31, 2019 and 2018, 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:

Segment Information

3 Months Ended

Mar. 31, 2019

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, 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 months ended March 31, 2019 and 2018 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 March 31,
(in thousands)	2019			2018
Net sales
Titleist golf balls	$	141,667		$	124,906
Titleist golf clubs	91,318			116,893
Titleist golf gear	45,181			44,345
FootJoy golf wear	140,981			140,706
Other	14,555			14,951
Total net sales	$	433,702		$	441,801

Segment operating income (loss)
Titleist golf balls	$	19,728		$	13,980
Titleist golf clubs	(405		)	16,383
Titleist golf gear	9,151			7,784
FootJoy golf wear	20,144			20,255
Other	3,440			2,547
Total segment operating income	52,058			60,949
Reconciling items:
Interest expense, net	(4,883		)	(4,408		)
Non-service cost component of net periodic benefit cost	262			7
Other	877			1,762
Total income before income tax	$	48,314		$	58,310

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 March 31,
(in thousands)	2019		2018
United States	$	230,383	$	219,289
EMEA ⁽¹⁾	71,078		73,042
Japan	40,735		52,129
Korea	49,042		52,675
Rest of world	42,464		44,666
Total net sales	$	433,702	$	441,801

_______________________________________________________________________________

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

Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

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 reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of March 31, 2019.

Purchase obligations by the Company as of March 31, 2019 were as follows:



	Payments Due by Period
	Remainder of
(in thousands)	2019		2020		2021		2022		2023		Thereafter
Purchase obligations	$	177,549	$	22,964	$	6,732	$	1,971	$	1,525	$	4,806

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 March 31, 2019 and December 31, 2018, the Company’s estimate of its receivable for these indemnifications was $9.1 million and $8.9 million, respectively, which was recorded in other noncurrent assets on the unaudited condensed consolidated balance sheet.

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.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
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 (the “SEC”) and U.S. GAAP. The year-end balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the 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 months ended March 31, 2019 are not necessarily indicative of results to be expected for the full year ending December 31, 2019, nor were those of the comparable 2018 period representative of those actually experienced for the full year ended December 31, 2018. 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, 2018 included in its Annual Report on Form 10-K filed with the SEC on February 28, 2019.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and judgments that affect reported amounts of assets, liabilities, shareholders’ equity, net sales and expenses, and the disclosure of contingent assets and liabilities in its unaudited condensed consolidated financial statements. Actual results could differ from those estimates.
Variable Interest Entities	Variable Interest Entities VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities independently, or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected residual returns. The Company consolidates a VIE when it is the primary beneficiary, which is the party that has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) through its interests in the VIE, the obligation to absorb expected losses or the right to receive expected benefits from the VIE that could potentially be significant to the VIE. The Company consolidates the accounts of Acushnet Lionscore Limited, a VIE, which is 40% owned by the Company. The sole purpose of the VIE is to manufacture the Company’s golf footwear and as such, the Company is deemed to be the primary beneficiary. The Company has presented separately on its consolidated balance sheets, to the extent material, the assets of its consolidated VIE that can only be used to settle specific obligations of its consolidated VIE and the liabilities of its consolidated VIE for which creditors do not have recourse to its general credit. The general creditors of the VIE do not have recourse to the Company. Certain directors of the VIE have guaranteed the credit lines of the VIE, for which there were no outstanding borrowings as of March 31, 2019 and December 31, 2018. 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	Noncontrolling Interests The ownership interest held by owners other than the Company in less than wholly-owned subsidiaries are classified as noncontrolling interests. The value attributable to the noncontrolling interests is presented on the unaudited condensed consolidated balance sheets within shareholders' equity, separately from the equity attributable to the Company. 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. The Company's less than wholly-owned subsidiaries include a VIE, as discussed above, and PG Professional Golf, which was acquired on October 1, 2018.
Cash	Cash and Restricted Cash Cash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations. As of both March 31, 2019 and December 31, 2018, the amount of restricted cash included in cash and restricted cash on the balance sheet was $2.0 million.
Restricted Cash	Cash and Restricted Cash Cash held in Company checking accounts is included in cash. Book overdrafts not subject to offset with other accounts with the same financial institution are classified as accounts payable. The Company classifies as restricted certain cash that is not available for use in its operations. As of both March 31, 2019 and December 31, 2018, the amount of restricted cash included in cash and restricted cash on the balance sheet was $2.0 million.
Accounts Receivable	Accounts Receivable As of March 31, 2019 and December 31, 2018, the allowance for doubtful accounts was $8.1 million and $7.3 million, respectively.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Foreign currency transaction gains included in selling, general and administrative expense were $0.5 million and $2.0 million for the three months ended March 31, 2019 and 2018, respectively.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards Leases On January 1, 2019, the Company adopted Accounting Standards Codification ("ASC") Topic 842, Leases ("ASC 842"), which requires the recognition of right-of-use assets and related operating and finance lease liabilities on the consolidated balance sheet. As permitted by ASC 842, the Company adopted ASC 842 using the optional transition approach, which allowed for a cumulative effect adjustment as of January 1, 2019, which is the date of initial application, and did not restate prior periods. As a result, the consolidated balance sheet prior to January 1, 2019 was not restated and continues to be reported under ASC Topic 840, Leases ("ASC 840"), which did not require the recognition of operating lease liabilities on the consolidated balance sheet, and is not comparative. Under ASC 842, all leases are required to be recorded on the consolidated balance sheet and are classified as either operating or finance leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset, the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or the leased asset is of a highly specialized nature. A lease is classified as an operating lease if it does not meet any one of these criteria. The lease classification affects the expense recognition in the consolidated statement of operations. Operating lease expense consists of the lease payments plus any initial direct costs and is recognized on a straight-line basis over the lease term in the consolidated statement of operations. Finance lease charges are split, where amortization of the right-of-use asset is recorded as depreciation and amortization expense and an implied interest component is recorded in interest expense, net. The expense recognition for operating leases and finance leases under ASC 842 is consistent with ASC 840. As a result, there is no impact on the results of operations presented in the Company's unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income for the periods presented as a result of the adoption of ASC 842. As permitted under ASC 842, the Company also elected to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019. As permitted under ASC 842, the Company elected to not use hindsight to determine lease terms and to not separate non-lease components within its lease portfolio. As permitted under ASC 842, the Company has also elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a term of 12 months or less. The effect of short-term leases on the Company's operating right-of-use assets and operating lease liabilities was not material. Upon adoption of ASC 842, the Company recognized operating lease right-of-use assets and operating lease liabilities. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred less any lease incentives received. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. The discount rate implicit within the Company's leases is generally not determinable and therefore the Company determines the discount rate based on its incremental collateralized borrowing rate applicable to the location where the lease is held. The incremental borrowing rate for each of the Company's leases is determined based on the lease term and currency in which such lease payments are made. Accordingly, upon adoption, the Company recorded an adjustment of $48.1 million to operating lease right-of-use assets and the related lease liabilities. The Company leases office and warehouse space, machinery and equipment, and vehicles, among other items. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 3 years. For contracts entered into on or after the effective date, at the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Company's assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtained the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether the Company has the right to direct the use of the asset. See further discussion in Note 2. Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") 2017‑12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” ("ASU 2017-12"). The amendments in this update expand and refine hedge accounting guidance and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. ASU 2017-12 also simplified the application of hedge accounting guidance, hedge documentation requirements and the assessment of hedge effectiveness. The adoption of this standard did not have a material impact on the consolidated financial statements. Changes to the Disclosure Requirements for Fair Value Measurement On January 1, 2019, the Company adopted ASU 2018-13, "Fair Value Measurement (Topic 820) —Disclosure Framework —Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). The amendments in this update are meant to provide more relevant information regarding valuation techniques and inputs used to arrive at measures of fair value, uncertainty in the fair value measurements, and how changes in fair value measurements impact an entity's performance and cash flows. The adoption of this standard should be applied to all periods presented. The adoption of this standard did not have an impact on the consolidated financial statements or related disclosures. Recently Issued Accounting Standards Intangibles —Goodwill and Other —Internal-Use Software In August 2018, the Financial Accounting Standards Board ("FASB") issued 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 align 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). ASU 2018-15 is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the 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.

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Components of lease cost and supplemental information

The weighted average remaining lease term and the weighted average discount rate for operating leases as of March 31, 2019 was:



	Operating Leases
Weighted average remaining lease term (years)	5.9
Weighted average discount rate	3.42	%

Operating lease costs recognized on the unaudited condensed consolidated statements of operations were as follows:



	Three months ended
(in thousands)	March 31, 2019
Cost of goods sold	$	821
Selling, general and administrative	2,882
Research and development	199
	$	3,902

Supplemental cash flow information and non-cash activity related to the Company's operating leases are as follows:



	Three months ended
(in thousands)	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,604
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	1,635

Supplemental balance sheet information related to operating leases

Supplemental balance sheet information related to the Company's operating leases is as follows:



		March 31,
(in thousands)	Balance Sheet Location	2019

Right-of-use assets	Other noncurrent assets	$	48,054

Current lease liabilities	Accrued expenses and other liabilities	$	11,649
Noncurrent lease liabilities	Other noncurrent liabilities	36,405
	Total liabilities	$	48,054

Schedule of future minimum rental payments under noncancelable operating leases

Future minimum rental payments under noncancelable operating leases as of December 31, 2018 were as follows:



(in thousands)
Year ending December 31,
2019	$	13,119
2020	11,053
2021	7,984
2022	5,345
2023	3,133
Thereafter	13,852
Total minimum rental payments	$	54,486

Reconciliation of undiscounted cash flows for operating leases to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet

The following table reconciles the undiscounted cash flows for operating leases as of March 31, 2019 to operating lease liabilities recorded on the unaudited condensed consolidated balance sheet:



	Operating
(in thousands)	Leases
Remainder of 2019	$	10,306
2020	11,720
2021	8,635
2022	5,845
2023	3,265
Thereafter	14,228
Total future lease payments	53,999
Less: Interest	(5,945		)
Present value of lease liabilities	$	48,054

Accrued expenses and other liabilities	$	11,649
Other noncurrent liabilities	36,405
Total lease liabilities	$	48,054

Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Schedule of inventory

The components of inventories were as follows:



	March 31,		December 31,
(in thousands)	2019		2018
Raw materials and supplies	$	62,937	$	71,068
Work-in-process	26,161		21,763
Finished goods	257,301		268,376
Inventories	$	346,399	$	361,207

Product Warranty (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31,
(in thousands)	2019			2018
Balance at beginning of period	$	3,331		$	3,823
Provision	1,074			1,195
Claims paid/costs incurred	(876		)	(913		)
Foreign currency translation	19			43
Balance at end of period	$	3,548		$	4,148

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

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)		March 31,		December 31,
Balance Sheet Location	Hedge Instrument Type	2019		2018
Other current assets	Foreign exchange forward	$	5,880	$	6,116
Other noncurrent assets	Foreign exchange forward	1,119		1,015
Accrued expenses and other liabilities	Foreign exchange forward	691		578
	Interest rate swap	773		526
Other noncurrent liabilities	Foreign exchange forward	132		161
	Interest rate swap	1,254		925

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
	March 31,
(in thousands)	2019			2018
Type of hedge
Foreign exchange forward	$	2,087		$	(7,081	)
Interest rate swap	(728		)	—
	$	1,359		$	(7,081	)

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
	March 31,
(in thousands)	2019			2018
Location of gain (loss) in statement of operations
Foreign exchange forward:
Cost of goods sold	$	1,606		$	(708	)
Selling, general and administrative ⁽¹⁾	(314		)	(668		)
Total	$	1,292		$	(1,376	)

Interest Rate Swap:
Interest expense, net	$	(157	)	$	—
Total	$	(157	)	$	—

_______________________________________________________________________________

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

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 were as follows:



	Fair Value Measurements as of
	March 31, 2019 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	8,931	$	—	$	—	Other current assets
Foreign exchange derivative instruments	—		5,880		—		Other current assets
Deferred compensation program assets	1,183		—		—		Other noncurrent assets
Foreign exchange derivative instruments	—		1,119		—		Other noncurrent assets
Total assets	$	10,114	$	6,999	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	691	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		773		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	1,183		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		132		—		Other noncurrent liabilities
Interest rate derivative instruments	—		1,254		—		Other noncurrent liabilities
Total liabilities	$	1,183	$	2,850	$	—

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 were as follows:



	Fair Value Measurements as of
	December 31, 2018 using:
(in thousands)	Level 1		Level 2		Level 3		Balance Sheet Location
Assets
Rabbi trust	$	8,415	$	—	$	—	Other current assets
Foreign exchange derivative instruments	—		6,116		—		Other current assets
Deferred compensation program assets	1,222		—		—		Other noncurrent assets
Foreign exchange derivative instruments	—		1,015		—		Other noncurrent assets
Total assets	$	9,637	$	7,131	$	—
Liabilities
Foreign exchange derivative instruments	$	—	$	578	$	—	Accrued expenses and other liabilities
Interest rate derivative instruments	—		526		—		Accrued expenses and other liabilities
Deferred compensation program liabilities	1,222		—		—		Other noncurrent liabilities
Foreign exchange derivative instruments	—		161		—		Other noncurrent liabilities
Interest rate derivative instruments	—		925		—		Other noncurrent liabilities
Total liabilities	$	1,222	$	2,190	$	—

Pension and Other Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31,
(in thousands)	2019			2018			2019			2018
Components of net periodic benefit cost (income)
Service cost	$	2,242		$	2,443		$	161		$	175
Interest cost	2,980			2,958			138			127
Expected return on plan assets	(3,299		)	(3,279		)	—			—
Settlement expense	—			8			—			—
Amortization of net loss (gain)	272			520			(363		)	(351		)
Amortization of prior service cost (credit)	44			44			(34		)	(34		)
Net periodic benefit cost (income)	$	2,239		$	2,694		$	(98	)	$	(83	)

Common Stock (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Schedule of declared dividends per share

The Company declared dividends per common share, including DERs (Note 11), during the periods presented as follows:



(in thousands, except per share amounts)	Dividends per Common Share		Amount
2019:
First Quarter	$	0.14	$	10,782
Total dividends declared in 2019	$	0.14	$	10,782

2018:
Fourth Quarter	$	0.13	$	9,968
Third Quarter	0.13		9,954
Second Quarter	0.13		9,917
First Quarter	0.13		9,917
Total dividends declared in 2018	$	0.52	$	39,756

Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of the Company’s restricted and performance stock units

A summary of the Company’s RSUs and PSUs as of March 31, 2019 and changes during the three 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, 2018	881,832		$	21.75	—	$	—
Granted	609,245		23.47		207,077	23.47
Vested	(475,823	)	20.25		—	—
Forfeited	(1,933	)	24.57		—	—
Outstanding as of March 31, 2019	1,013,321		$	23.48	207,077	$	23.47

Undelivered ⁽¹⁾	83,761				—

_______________________________________________________________________________

(1) Shares of common stock related to vestings occurring in 2019 that were not delivered as of March 31, 2019.

Schedule of compensation expense related to equity incentive plans

The allocation of compensation expense related to equity incentive plans in the unaudited condensed consolidated statements of operations was as follows:



	Three months ended
	March 31,
(in thousands)	2019		2018
Cost of goods sold	$	167	$	94
Selling, general and administrative	1,467		3,733
Research and development	151		299
Total compensation expense before income tax	1,785		4,126
Income tax benefit	390		853
Total compensation expense, net of income tax	$	1,395	$	3,273

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:



	Three months ended		Three months ended
	March 31, 2019		March 31, 2018
	RSUs	PSUs	RSUs	PSUs
Shares of common stock issued ⁽¹⁾	392,062	900,226	388,012	—
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations	(123,013)	(325,246)	(122,795)	—
Net shares of common stock issued	269,049	574,980	265,217	—

Cumulative undelivered shares of common stock	147,251	—	—	—

______________________________________________________________________________

(1) Shares of common stock issued related to PSUs represents PSUs that vested in 2018 but were delivered in common stock during the three months ended March 31, 2019.

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21553-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21488-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21484-112644

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Accumulated Other Comprehensive Loss, Net of Tax (Tables)

3 Months Ended

Mar. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [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, 2018	$	(71,853	)	$	5,258		$	(1,098	)	$	(21,346	)	$	(89,039	)
Other comprehensive income (loss) before reclassifications	3,842			2,087			(728		)	(122		)	5,079
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(1,606		)	157			(81		)	(1,530		)
Tax benefit (expense)	—			(209		)	139			57			(13		)
Balance as of March 31, 2019	$	(68,011	)	$	5,530		$	(1,530	)	$	(21,492	)	$	(85,503	)

Net Income per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

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
	March 31,
(in thousands, except share and per share amounts)	2019		2018

Net income attributable to Acushnet Holdings Corp.	$	34,926	$	41,484

Weighted average number of common shares:
Basic	76,006,989		74,650,237
Diluted	76,264,038		74,793,823

Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$	0.46	$	0.56
Diluted	$	0.46	$	0.55

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

For the three months ended March 31, 2019 and 2018, 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:

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31,
(in thousands)	2019			2018
Net sales
Titleist golf balls	$	141,667		$	124,906
Titleist golf clubs	91,318			116,893
Titleist golf gear	45,181			44,345
FootJoy golf wear	140,981			140,706
Other	14,555			14,951
Total net sales	$	433,702		$	441,801

Segment operating income (loss)
Titleist golf balls	$	19,728		$	13,980
Titleist golf clubs	(405		)	16,383
Titleist golf gear	9,151			7,784
FootJoy golf wear	20,144			20,255
Other	3,440			2,547
Total segment operating income	52,058			60,949
Reconciling items:
Interest expense, net	(4,883		)	(4,408		)
Non-service cost component of net periodic benefit cost	262			7
Other	877			1,762
Total income before income tax	$	48,314		$	58,310

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 March 31,
(in thousands)	2019		2018
United States	$	230,383	$	219,289
EMEA ⁽¹⁾	71,078		73,042
Japan	40,735		52,129
Korea	49,042		52,675
Rest of world	42,464		44,666
Total net sales	$	433,702	$	441,801

_______________________________________________________________________________

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

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of purchase obligations

Purchase obligations by the Company as of March 31, 2019 were as follows:



	Payments Due by Period
	Remainder of
(in thousands)	2019		2020		2021		2022		2023		Thereafter
Purchase obligations	$	177,549	$	22,964	$	6,732	$	1,971	$	1,525	$	4,806

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018
Cash and Restricted Cash
Restricted cash	$ 2,000,000			$ 2,000,000
Accounts receivable
Allowance for doubtful accounts	8,100,000			7,300,000
Recently Adopted Accounting Standards
Operating lease, right-of-use assets	48,054,000
Operating lease, liabilities	$ 48,054,000
Renewal terms (up to)	3 years
Accounting Standards Update 2016-02
Recently Adopted Accounting Standards
Operating lease, right-of-use assets			$ 48,100,000
Operating lease, liabilities			$ 48,100,000
Selling, general and administrative
Foreign currency translation and transactions
Transaction gains included in selling, general and administrative expense	$ 500,000	$ 2,000,000
VIE
Variable interest entities
Ownership percentage	40.00%
Outstanding borrowings	$ 0			$ 0

Leases - Components of Lease Cost (Details) $ in Thousands	3 Months Ended
Leases - Components of Lease Cost (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 3,902
Cost of goods sold
Lessee, Lease, Description [Line Items]
Total operating lease cost	821
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Total operating lease cost	2,882
Research and development
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 199

Leases - Right-of-Use Assets (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Operating Leases
Right-of-use assets	$ 48,054
Current lease liabilities	11,649
Noncurrent lease liabilities	36,405
Total liabilities	$ 48,054

Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details)	Mar. 31, 2019
Leases [Abstract]
Weighted average remaining lease term (years)	5 years 10 months 24 days
Weighted average discount rate	3.42%

Leases - Reconciliation of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Remainder of 2019	$ 10,306
2020	11,720
2021	8,635
2022	5,845
2023	3,265
Thereafter	14,228
Total future lease payments	53,999
Less: Interest	(5,945)
Total liabilities	48,054
Accrued expenses and other liabilities	11,649
Other noncurrent liabilities	$ 36,405

Leases - Future Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 13,119
2020	11,053
2021	7,984
2022	5,345
2023	3,133
Thereafter	13,852
Total minimum rental payments	$ 54,486

Leases - Supplemental Cash Flow Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 3,604
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 1,635

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 62,937	$ 71,068
Work-in-process	26,161	21,763
Finished goods	257,301	268,376
Inventories	$ 346,399	$ 361,207

Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
Product Warranty (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Activity for accrued warranty expense
Balance at beginning of period	$ 3,331	$ 3,823
Provision	1,074	1,195
Claims paid/costs incurred	(876)	(913)
Foreign currency translation	19	43
Balance at end of period	$ 3,548	$ 4,148
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) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Unsecured Local Credit Facilities
Line of Credit Facility [Line Items]
Weighted average interest rate	0.97%	3.25%
Available borrowings	$ 51,300,000
Other short-term borrowings, outstanding borrowings	12,600,000	$ 900,000
Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 129,000,000	0
Weighted average interest rate	3.71%
Available borrowings	$ 135,300,000
Revolving credit facility \| Letters of credit
Line of Credit Facility [Line Items]
Outstanding borrowings	10,700,000
Letters of credit
Line of Credit Facility [Line Items]
Outstanding borrowings	14,900,000	15,500,000
Line of credit secured	11,800,000	12,400,000
Maximum commitment	$ 29,200,000	$ 29,200,000

Derivative Financial Instruments - Fair value of hedge instruments in unaudited condensed consolidated balance sheets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) derivative	Dec. 31, 2018 USD ($) derivative
Foreign exchange forward \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Number of outstanding contracts \| derivative	0	0
Foreign exchange forward \| Derivative designated as hedging
Derivatives, Fair Value [Line Items]
Notional amount	$ 318,300	$ 312,800
Foreign exchange forward \| Derivative designated as hedging \| Other current assets
Derivatives, Fair Value [Line Items]
Asset derivatives	5,880	6,116
Foreign exchange forward \| Derivative designated as hedging \| Other noncurrent assets
Derivatives, Fair Value [Line Items]
Asset derivatives	1,119	1,015
Foreign exchange forward \| Derivative designated as hedging \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	691	578
Foreign exchange forward \| Derivative designated as hedging \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 132	161
Foreign exchange forward \| Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract	24 months
Interest rate swap \| Derivative designated as hedging
Derivatives, Fair Value [Line Items]
Notional amount	$ 185,000	185,000
Interest rate swap \| Derivative designated as hedging \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	773	526
Interest rate swap \| Derivative designated as hedging \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	$ 1,254	$ 925

Derivative Financial Instruments - Effect of hedge instruments in unaudited condensed comprehensive income (loss) and statement of operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss, net of tax	$ 1,359
Gain (loss) recognized in accumulated other comprehensive loss, net of tax		$ (7,081)
Foreign exchange forward
Derivative Instruments, Gain (Loss) [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	6,200
Interest rate swap
Derivative Instruments, Gain (Loss) [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	(800)
Derivative designated as hedging \| Foreign exchange forward
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on consolidated statements of operations	1,292	(1,376)
Derivative designated as hedging \| Foreign exchange forward \| Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on consolidated statements of operations	1,606	(708)
Derivative designated as hedging \| Foreign exchange forward \| Selling, general and administrative
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on consolidated statements of operations	(314)	(668)
Derivative designated as hedging \| Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on consolidated statements of operations	(157)	0
Derivative designated as hedging \| Interest rate swap \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized on consolidated statements of operations	(157)	0
Derivative designated as hedging \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss, net of tax	1,359
Gain (loss) recognized in accumulated other comprehensive loss, net of tax		(7,081)
Derivative designated as hedging \| Cash flow hedge \| Foreign exchange forward
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss, net of tax	2,087
Gain (loss) recognized in accumulated other comprehensive loss, net of tax		(7,081)
Derivative designated as hedging \| Cash flow hedge \| Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss, net of tax	$ (728)
Gain (loss) recognized in accumulated other comprehensive loss, net of tax		$ 0

Fair Value Measurements - Assets and liabilities at fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Level 1
Assets
Total assets	$ 10,114	$ 9,637
Liabilities
Total liabilities	1,183	1,222
Level 2
Assets
Total assets	6,999	7,131
Liabilities
Total liabilities	2,850	2,190
Level 3
Assets
Total assets	0	0
Liabilities
Total liabilities	0	0
Other current assets \| Rabbi trust \| Level 1
Assets
Total assets	8,931	8,415
Other current assets \| Rabbi trust \| Level 2
Assets
Total assets	0	0
Other current assets \| Rabbi trust \| Level 3
Assets
Total assets	0	0
Other current assets \| Foreign exchange derivative instruments \| Level 1
Assets
Total assets	0	0
Other current assets \| Foreign exchange derivative instruments \| Level 2
Assets
Total assets	5,880	6,116
Other current assets \| Foreign exchange derivative instruments \| Level 3
Assets
Total assets	0	0
Other noncurrent assets \| Foreign exchange derivative instruments \| Level 1
Assets
Total assets	0	0
Other noncurrent assets \| Foreign exchange derivative instruments \| Level 2
Assets
Total assets	1,119	1,015
Other noncurrent assets \| Foreign exchange derivative instruments \| Level 3
Assets
Total assets	0	0
Other noncurrent assets \| Deferred compensation program assets \| Level 1
Assets
Total assets	1,183	1,222
Other noncurrent assets \| Deferred compensation program assets \| Level 2
Assets
Total assets	0	0
Other noncurrent assets \| Deferred compensation program assets \| Level 3
Assets
Total assets	0	0
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 1
Liabilities
Total liabilities	0	0
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 2
Liabilities
Total liabilities	691	578
Accrued expenses and other liabilities \| Foreign exchange derivative instruments \| Level 3
Liabilities
Total liabilities	0	0
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 1
Liabilities
Total liabilities	0	0
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 2
Liabilities
Total liabilities	773	526
Accrued expenses and other liabilities \| Interest rate derivative instruments \| Level 3
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 1
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 2
Liabilities
Total liabilities	132	161
Other noncurrent liabilities \| Foreign exchange derivative instruments \| Level 3
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 1
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 2
Liabilities
Total liabilities	1,254	925
Other noncurrent liabilities \| Interest rate derivative instruments \| Level 3
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Deferred compensation program liabilities \| Level 1
Liabilities
Total liabilities	1,183	1,222
Other noncurrent liabilities \| Deferred compensation program liabilities \| Level 2
Liabilities
Total liabilities	0	0
Other noncurrent liabilities \| Deferred compensation program liabilities \| Level 3
Liabilities
Total liabilities	$ 0	$ 0

Pension and Other Postretirement Benefits - Periodic benefit cost (income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Benefits
Components of net periodic benefit cost (income)
Service cost	$ 2,242	$ 2,443
Interest cost	2,980	2,958
Expected return on plan assets	(3,299)	(3,279)
Settlement expense	0	8
Amortization of net loss (gain)	272	520
Amortization of prior service cost (credit)	44	44
Net periodic benefit cost (income)	2,239	2,694
Postretirement Benefits
Components of net periodic benefit cost (income)
Service cost	161	175
Interest cost	138	127
Expected return on plan assets	0	0
Settlement expense	0	0
Amortization of net loss (gain)	(363)	(351)
Amortization of prior service cost (credit)	(34)	(34)
Net periodic benefit cost (income)	$ (98)	$ (83)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Decrease in income tax expense	$ 2,900
Income tax expense	$ 12,275	$ 15,220
Effective tax rate	25.40%	26.10%

Common Stock (Details) - USD ($)	3 Months Ended					12 Months Ended
Common Stock (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Jun. 30, 2019
Equity [Abstract]
Dividends per Common Share (in dollars per share)	$ 0.14	$ 0.13	$ 0.13	$ 0.13	$ 0.13	$ 0.52
Amount	$ 10,782,000	$ 9,968,000	$ 9,954,000	$ 9,917,000	$ 9,917,000	$ 39,756,000
Dividends Payable [Line Items]
Issued and outstanding common stock authorized to repurchase (in shares)	$ 50,000,000
Share repurchases made under program (in shares)	0
Forecast
Dividends Payable [Line Items]
Dividends declared and payable (in dollars per share)							$ 0.14

Equity Incentive Plans - Narrative (Details) $ in Millions	3 Months Ended
Equity Incentive Plans - Narrative (Details) $ in Millions	Mar. 31, 2019 USD ($)
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period	2 years 6 months
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 20.3
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unrecognized compensation expense	$ 4.6
Minimum \| RSUs \| Company Officers and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum \| RSUs \| Company Officers and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Equity Incentive Plans - Restricted Stock and Performance Stock Units (Details) - 2015 Omnibus Incentive Plan	3 Months Ended
	Mar. 31, 2019 $ / shares shares
RSUs
Number of Units
Outstanding at beginning of the period (in shares)	881,832
Granted (in shares)	609,245
Vested (in shares)	(475,823)
Forfeited (in shares)	(1,933)
Outstanding at end of the period (in shares)	1,013,321
Undelivered (in shares)	83,761
Weighted - Average Fair Value
Outstanding at beginning of the period (in dollars per share) \| $ / shares	$ 21.75
Granted (in dollars per share) \| $ / shares	23.47
Vested (in dollars per share) \| $ / shares	20.25
Forfeited (in dollars per share) \| $ / shares	24.57
Outstanding at end of the period (in dollars per share) \| $ / shares	$ 23.48
PSUs
Number of Units
Outstanding at beginning of the period (in shares)	0
Granted (in shares)	207,077
Vested (in shares)	0
Forfeited (in shares)	0
Outstanding at end of the period (in shares)	207,077
Undelivered (in shares)	0
Weighted - Average Fair Value
Outstanding at beginning of the period (in dollars per share) \| $ / shares	$ 0.00
Granted (in dollars per share) \| $ / shares	23.47
Vested (in dollars per share) \| $ / shares	0.00
Forfeited (in dollars per share) \| $ / shares	0.00
Outstanding at end of the period (in dollars per share) \| $ / shares	$ 23.47

Equity Incentive Plans Equity Incentive Plans - Summary of Shares of Common Stock Issued (Details) - 2015 Omnibus Incentive Plan - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
RSUs
Class of Stock [Line Items]
Cumulative undelivered shares of common stock (in shares)	83,761
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)	392,062	388,012
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations (in shares)	(123,013)	(122,795)
Net shares of common stock issued (in shares)	269,049	265,217
Cumulative undelivered shares of common stock (in shares)	147,251	0
Common Stock \| PSUs
Class of Stock [Line Items]
Shares of common stock issued (in shares)	900,226	0
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations (in shares)	(325,246)	0
Net shares of common stock issued (in shares)	574,980	0
Cumulative undelivered shares of common stock (in shares)	0	0

Equity Incentive Plans - Allocation of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	$ 1,785	$ 4,126
Income tax benefit	390	853
Total compensation expense, net of income tax	1,395	3,273
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	167	94
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	1,467	3,733
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense before income tax	$ 151	$ 299

Accumulated Other Comprehensive Loss, Net of Tax (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	$ (89,039)
Other comprehensive income (loss) before reclassifications	5,079
Amounts reclassified from accumulated other comprehensive loss, net of tax	(1,530)
Tax benefit (expense)	(13)
Balance at the end of the period	(85,503)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(71,853)
Other comprehensive income (loss) before reclassifications	3,842
Amounts reclassified from accumulated other comprehensive loss, net of tax	0
Tax benefit (expense)	0
Balance at the end of the period	(68,011)
Gains (Losses) on Cash Flow Derivative Instruments \| Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(1,098)
Other comprehensive income (loss) before reclassifications	(728)
Amounts reclassified from accumulated other comprehensive loss, net of tax	157
Tax benefit (expense)	139
Balance at the end of the period	(1,530)
Gains (Losses) on Cash Flow Derivative Instruments \| Foreign exchange derivative instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	5,258
Other comprehensive income (loss) before reclassifications	2,087
Amounts reclassified from accumulated other comprehensive loss, net of tax	(1,606)
Tax benefit (expense)	(209)
Balance at the end of the period	5,530
Pension and Other Postretirement Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(21,346)
Other comprehensive income (loss) before reclassifications	(122)
Amounts reclassified from accumulated other comprehensive loss, net of tax	(81)
Tax benefit (expense)	57
Balance at the end of the period	(21,492)
Accumulated Other Comprehensive Loss, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(89,039)
Balance at the end of the period	$ (85,503)

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
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income attributable to Acushnet Holdings Corp.	$ 34,926	$ 41,484
Weighted average number of common shares:
Basic (in shares)	76,006,989	74,650,237
Diluted (in shares)	76,264,038	74,793,823
Net income per common share attributable to Acushnet Holdings Corp.:
Basic (in dollars per share)	$ 0.46	$ 0.56
Diluted (in dollars per share)	$ 0.46	$ 0.55

- 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 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: 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=109260490&loc=d3e1337-109256

Reference 3: 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=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-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 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

- 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.

+ References

Reference 1: 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=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-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=109260490&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 9: 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(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

- Definition

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

+ References + Details

Net Income per Common Share - Calculation of diluted weighted average common shares outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
RSUs
Securities excluded from calculation of diluted weighted-average common shares outstanding as their impact was anti-dilutive (in shares)	4,050	0

Segment Information - Reconciliation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) segment	Mar. 31, 2018 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	4
Segment Reporting Information [Line Items]
Net sales	$ 433,702	$ 441,801
Segment operating income (loss)	52,227	62,284
Reconciling items:
Interest expense, net	(4,883)	(4,408)
Income before income taxes	48,314	58,310
Operating segments
Segment Reporting Information [Line Items]
Segment operating income (loss)	52,058	60,949
Reconciling Items
Reconciling items:
Interest expense, net	(4,883)	(4,408)
Non-service cost component of net periodic benefit cost	262	7
Other	877	1,762
Titleist golf balls \| Operating segments
Segment Reporting Information [Line Items]
Net sales	141,667	124,906
Segment operating income (loss)	19,728	13,980
Titleist golf clubs \| Operating segments
Segment Reporting Information [Line Items]
Net sales	91,318	116,893
Segment operating income (loss)	(405)	16,383
Titleist golf gear \| Operating segments
Segment Reporting Information [Line Items]
Net sales	45,181	44,345
Segment operating income (loss)	9,151	7,784
FootJoy golf wear \| Operating segments
Segment Reporting Information [Line Items]
Net sales	140,981	140,706
Segment operating income (loss)	20,144	20,255
Other \| Operating segments
Segment Reporting Information [Line Items]
Net sales	14,555	14,951
Segment operating income (loss)	$ 3,440	$ 2,547

Segment Information - Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 433,702	$ 441,801
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	230,383	219,289
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	71,078	73,042
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	40,735	52,129
Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	49,042	52,675
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 42,464	$ 44,666

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2019	$ 177,549
2020	22,964
2021	6,732
2022	1,971
2023	1,525
Thereafter	$ 4,806

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Estimated receivable for indemnifications	$ 9.1	$ 8.9

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,501,000)
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,501,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,631,000
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (6,132,000)

Three months ended