GOLF — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Geopolitical Developments and Macroeconomic Factors: The global economy continues to experience elevated levels of volatility and uncertainty, including within the commodity markets, driven by a combination of geopolitical developments and macroeconomic factors. Increased U.S. tariffs have led and m…

• In February 2026, the U.S. Supreme Court ruled that certain tariffs under the International Emergency Economic Powers Act (“IEEPA”) were invalid, and in March 2026, the U.S. Court of International Trade issued an order directing U.S. Customs and Border Protection (“CBP”) to refund duties imposed und…

• Current uncertainties around geopolitical developments and macroeconomic factors and their effects on trading relationships may further affect the costs of our imported raw materials, components parts and finished goods, as well as

• increase market volatility and currency exchange rate fluctuations, which may influence our hedging strategy. In addition, these factors, and any changes to these factors, could have a material adverse effect on consumer behavior and on our future revenues and overall profitability. We continue to m…

• Supply Chain Optimization: On January 6, 2026, we formed a new joint venture with Myre and subscribed for shares in the capital of ACL FootJoy, in which we have a 40% interest, with the remaining 60% owned by Myre. The primary purpose of ACL FootJoy is to source raw materials for, and contract for t…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• Voluntary Bridge to Retirement (“VBR”) Program: During the second quarter of 2025, we initiated a VBR program to reduce operating costs and bridge certain long-tenured eligible employees to retirement. As part of this program, eligible employees were offered severance in the form of salary and benef…

• FootJoy Footwear Joint Venture Deconsolidation: As previously disclosed, until 2024, the majority of our FootJoy footwear was manufactured in a facility in Fuzhou, China, owned by a joint venture in which we have a 40% interest, with the remaining 60% owned by our long-standing Taiwan-based supply p…

• during the nine months ended September 30, 2025, and currently expect the investment may generate net losses in future periods. See “Notes to Unaudited Condensed Consolidated Financial Statements – Note 1 – Summary of Significant Accounting Policies,” Item 1 of Part I to this report.

• Tariffs and Foreign Exchange: The U.S. government has recently implemented significant tariff measures, including a baseline tariff of 10% on most products imported into the United States, as well as individualized tariffs on products imported from select trading partners, including Canada, China, M…

• One Big Beautiful Bill Act ("OBBBA"): On July 4, 2025, the U.S. government enacted the OBBBA, which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extension…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• We performed a sensitivity analysis to assess the potential effect of a hypothetical movement in interest rates on our annual pre-tax interest expense. As of March 31, 2026, we had $657.5 million of outstanding indebtedness at variable interest rates. The sensitivity analysis, while not predictive i…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• In addition, we are subject to broader market risk that is created by the global market disruptions and uncertainties resulting from macroeconomic challenges, geopolitical events, tariffs, trade and other international disputes. See “Risk Factors,” Item 1A of Part II to this report, for additional i…

• From time to time, we enter into interest rate swap contracts to reduce our interest rate risk related to floating rate debt. Under these contracts, we pay fixed and receive variable rate interest, in effect converting a portion of our floating rate debt to fixed rate debt. As of September 30, 2025,…

• We performed a sensitivity analysis to assess the potential effect of a hypothetical movement in interest rates on our annual pre-tax interest expense. As of September 30, 2025, we had $554.8 million of outstanding indebtedness at variable interest rates. The sensitivity analysis, while not predicti…