2018 Form 10-K Financial Statement

#000167201319000009 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017 Q3
Revenue $1.634B $351.4M $347.3M
YoY Change 4.71% 6.55% 2.35%
Cost Of Revenue $791.4M $172.0M $174.2M
YoY Change 4.35% 6.3% 1.02%
Gross Profit $842.4M $179.4M $173.1M
YoY Change 5.05% 6.77% 3.72%
Gross Profit Margin 51.56% 51.05% 49.85%
Selling, General & Admin $611.9M $142.7M $141.5M
YoY Change 5.81% -4.23% -0.34%
% of Gross Profit 72.64% 79.56% 81.75%
Research & Development $51.49M $12.10M $10.78M
YoY Change 8.99% -10.37% -13.73%
% of Gross Profit 6.11% 6.75% 6.23%
Depreciation & Amortization $40.50M $10.20M $10.20M
YoY Change -0.92% 0.0% 2.0%
% of Gross Profit 4.81% 5.69% 5.89%
Operating Expenses $663.4M $156.5M $152.3M
YoY Change 6.05% -4.69% -2.44%
Operating Profit $172.3M $28.28M $19.18M
YoY Change 1.48% 644.26% 77.59%
Interest Expense -$20.10M $1.600M -$5.100M
YoY Change 54.62% -122.22% -69.46%
% of Operating Profit -11.66% 5.66% -26.59%
Other Income/Expense, Net -$3.629M -$1.200M -$1.018M
YoY Change 48.55% -120.69% -142.42%
Pretax Income $54.00M $23.20M $14.12M
YoY Change -11.7% 1446.67% -492.28%
Income Tax $47.23M -$8.300M $3.488M
% Of Pretax Income 87.46% -35.78% 24.7%
Net Earnings $99.87M $18.25M $9.318M
YoY Change 1.19% -9223.5% -269.42%
Net Earnings / Revenue 6.11% 5.19% 2.68%
Basic Earnings Per Share $1.34 $0.25 $0.13
Diluted Earnings Per Share $1.32 $0.24 $0.12
COMMON SHARES
Basic Shares Outstanding 74.77M shares 74.45M shares
Diluted Shares Outstanding 75.47M shares 74.70M shares

Balance Sheet

Concept 2018 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.00M $47.70M $73.20M
YoY Change -35.01% -37.32% -14.59%
Cash & Equivalents $47.72M $73.19M
Short-Term Investments
Other Short-Term Assets $85.70M $84.54M $70.10M
YoY Change 1.42% -3.6% -16.15%
Inventory $361.2M $364.0M $321.0M
Prepaid Expenses
Receivables $186.1M $190.9M $209.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $664.0M $687.1M $673.7M
YoY Change -3.36% 3.4% -0.4%
LONG-TERM ASSETS
Property, Plant & Equipment $228.4M $228.9M $228.4M
YoY Change -0.22% -4.5% -5.74%
Goodwill $203.4M
YoY Change 3.41%
Intangibles $481.2M
YoY Change
Long-Term Investments
YoY Change
Other Assets $111.3M $33.83M $134.9M
YoY Change -16.5% -79.21% -5.07%
Total Long-Term Assets $1.028B $1.047B $1.032B
YoY Change -1.83% -2.32% -2.85%
TOTAL ASSETS
Total Short-Term Assets $664.0M $687.1M $673.7M
Total Long-Term Assets $1.028B $1.047B $1.032B
Total Assets $1.692B $1.734B $1.706B
YoY Change -2.44% -0.13% -1.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.00M $92.76M $91.10M
YoY Change -7.33% 5.89% 1.79%
Accrued Expenses $133.4M $126.3M $133.2M
YoY Change 5.62% -53.26% -54.29%
Deferred Revenue
YoY Change
Short-Term Debt $900.0K $20.36M $14.30M
YoY Change -95.59% -52.08% -55.45%
Long-Term Debt Due $35.60M $26.72M $23.80M
YoY Change 33.33% 42.12%
Total Short-Term Liabilities $294.9M $306.8M $291.4M
YoY Change -3.88% -33.61% -36.53%
LONG-TERM LIABILITIES
Long-Term Debt $347.0M $417.0M $425.7M
YoY Change -16.79% 19.72% -40.93%
Other Long-Term Liabilities $118.2M $16.70M $139.9M
YoY Change -19.54% -88.82% 6.88%
Total Long-Term Liabilities $465.2M $16.70M $565.6M
YoY Change -17.5% -96.64% -33.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $294.9M $306.8M $291.4M
Total Long-Term Liabilities $465.2M $16.70M $565.6M
Total Liabilities $796.7M $879.9M $894.9M
YoY Change -12.7% -12.03% -33.74%
SHAREHOLDERS EQUITY
Retained Earnings $8.199M
YoY Change
Common Stock $894.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $894.9M $821.3M $810.7M
YoY Change
Total Liabilities & Shareholders Equity $1.692B $1.734B $1.706B
YoY Change -2.44% -0.13% -1.9%

Cashflow Statement

Concept 2018 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $99.87M $18.25M $9.318M
YoY Change 1.19% -9223.5% -269.42%
Depreciation, Depletion And Amortization $40.50M $10.20M $10.20M
YoY Change -0.92% 0.0% 2.0%
Cash From Operating Activities $163.7M -$9.100M $72.00M
YoY Change -705.59% -48.59% 8.27%
INVESTING ACTIVITIES
Capital Expenditures $32.80M -$6.000M -$4.000M
YoY Change 74.06% 5.26% -25.93%
Acquisitions $16.90M
YoY Change
Other Investing Activities -$16.90M
YoY Change
Cash From Investing Activities -$49.70M -$6.000M -$4.000M
YoY Change 163.75% 5.26% -25.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $21.09M
YoY Change 12.5%
Cash From Financing Activities -$128.9M -11.10M -78.20M
YoY Change -1492.58% -159.04% 45.62%
NET CHANGE
Cash From Operating Activities $163.7M -9.100M 72.00M
Cash From Investing Activities -$49.70M -6.000M -4.000M
Cash From Financing Activities -$128.9M -11.10M -78.20M
Net Change In Cash -$16.71M -26.20M -10.20M
YoY Change -46.82% 469.57% -237.84%
FREE CASH FLOW
Cash From Operating Activities $163.7M -$9.100M $72.00M
Capital Expenditures $32.80M -$6.000M -$4.000M
Free Cash Flow $130.9M -$3.100M $76.00M
YoY Change -385.37% -74.17% 5.7%

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0 USD
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0 USD
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0 USD
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89222000 USD
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151676000 USD
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150304000 USD
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955000 USD
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90000 USD
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12138000 USD
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31229000 USD
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53086000 USD
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31564000 USD
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768000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
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1630000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1550000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-525000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1313000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2349000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
706000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
508000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
771000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
704000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
3240000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
3225000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
16589000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
35949000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
27389000 USD
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1968000 USD
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28146000 USD
CY2017 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
0 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
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974000 USD
CY2018 us-gaap Interest Expense Related Party
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0 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
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-5789000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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-12630000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
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2592000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
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-571000 USD
CY2016 us-gaap Increase Decrease In Accrued Taxes Payable
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14666000 USD
CY2017 us-gaap Increase Decrease In Accrued Taxes Payable
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-10283000 USD
CY2018 us-gaap Increase Decrease In Accrued Taxes Payable
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4311000 USD
CY2016 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-12570000 USD
CY2017 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
CY2018 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
CY2016 us-gaap Increase Decrease In Inventories
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2377000 USD
CY2017 us-gaap Increase Decrease In Inventories
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28372000 USD
CY2018 us-gaap Increase Decrease In Inventories
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-805000 USD
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34016000 USD
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
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165598000 USD
CY2018 us-gaap Increase Decrease In Other Operating Capital Net
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19334000 USD
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481234000 USD
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478257000 USD
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23113000 USD
CY2017 us-gaap Interest Expense Other
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16907000 USD
CY2018 us-gaap Interest Expense Other
InterestExpenseOther
19171000 USD
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InterestExpenseTradingLiabilities
0 USD
CY2017 us-gaap Interest Expense Trading Liabilities
InterestExpenseTradingLiabilities
0 USD
CY2018 us-gaap Interest Expense Trading Liabilities
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476000 USD
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-49908000 USD
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-15709000 USD
CY2018 us-gaap Interest Income Expense Net
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-18402000 USD
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1351000 USD
CY2017 us-gaap Interest Income Other
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1198000 USD
CY2018 us-gaap Interest Income Other
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1245000 USD
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27165000 USD
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InterestPaidNet
15488000 USD
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18344000 USD
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267664000 USD
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21763000 USD
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16500000 USD
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16300000 USD
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98695000 USD
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41484000 USD
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15700000 USD
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P5Y
CY2018Q4 us-gaap Lessor Operating Lease Term Of Contract
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P1Y
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268376000 USD
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879932000 USD
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363962000 USD
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361207000 USD
CY2017Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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72342000 USD
CY2018Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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71068000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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4800000 USD
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
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23956000 USD
CY2018 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7350000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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1733905000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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1691621000 USD
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306783000 USD
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294867000 USD
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384844000 USD
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416970000 USD
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346953000 USD
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26719000 USD
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35625000 USD
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0 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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35625000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
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310625000 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
38594000 USD
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8700000 USD
CY2018Q4 us-gaap Loss Contingency Receivable
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8900000 USD
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32664000 USD
CY2018Q4 us-gaap Minority Interest
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32112000 USD
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4800000 USD
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9255000 USD
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-128883000 USD
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-19175000 USD
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-18845000 USD
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-49703000 USD
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104269000 USD
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-27037000 USD
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163733000 USD
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45012000 USD
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33833000 USD
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33276000 USD
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32000 USD
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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185000 USD
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7063000 USD
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0 USD
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1369000 USD
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11418000 USD
CY2018 us-gaap Net Income Loss
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99872000 USD
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4503000 USD
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-12815000 USD
CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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6440000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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23189000 USD
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98695000 USD
CY2017Q1 us-gaap Net Income Loss
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38114000 USD
CY2017Q2 us-gaap Net Income Loss
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33016000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
9318000 USD
CY2017Q4 us-gaap Net Income Loss
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18247000 USD
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99872000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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4506000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
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39664000 USD
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3200000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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54486000 USD
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13119000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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3133000 USD
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5345000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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7984000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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11053000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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13852000 USD
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84541000 USD
CY2018Q4 us-gaap Other Assets Current
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85666000 USD
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98695000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Diluted
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99872000 USD
CY2016 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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1665000 USD
CY2017 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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3520000 USD
CY2018 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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4416000 USD
CY2016 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1170000 USD
CY2017 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2876000 USD
CY2018 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2568000 USD
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3598000 USD
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228922000 USD
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228388000 USD
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-3371000 USD
CY2017 us-gaap Nonoperating Income Expense
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-2443000 USD
CY2018 us-gaap Nonoperating Income Expense
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-3629000 USD
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4 segment
CY2017 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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1686000 USD
CY2018 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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-5129000 USD
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OperatingIncomeLoss
142501000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
64474000 USD
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OperatingIncomeLoss
57892000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
19180000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
28282000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
169828000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
62284000 USD
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OperatingIncomeLoss
64579000 USD
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OperatingIncomeLoss
25873000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
19599000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
172335000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-14656000 USD
CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
1668000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
451000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-4072000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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16072000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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6889000 USD
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OtherComprehensiveIncomeLossNetOfTax
9143000 USD
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1216000 USD
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-11971000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-23600000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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26964000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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-5690000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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10345000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
5191000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-4315000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
5727000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
1698000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1375000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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5194000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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1329000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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-1886000 USD
CY2017 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-5805000 USD
CY2018 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
3043000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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7014000 USD
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-15558000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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6222000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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51000 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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150000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
0 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
19000 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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-35000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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16701000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
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16105000 USD
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2232000 USD
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OtherNonoperatingGainsLosses
1254000 USD
CY2018 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
529000 USD
CY2017Q4 us-gaap Other Short Term Borrowings
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10298000 USD
CY2018Q4 us-gaap Other Short Term Borrowings
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920000 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6606000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
381000 USD
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2017 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
35744000 USD
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
39057000 USD
CY2016 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4800000 USD
CY2017 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4800000 USD
CY2018 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
7350000 USD
CY2016 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
17316000 USD
CY2017 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2018 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
903000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2634000 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
16902000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19175000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18845000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32801000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
130160000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
102077000 USD
CY2016 us-gaap Pension Expense
PensionExpense
1000000 USD
CY2017 us-gaap Pension Expense
PensionExpense
900000 USD
CY2018 us-gaap Pension Expense
PensionExpense
400000 USD
CY2016 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
11576000 USD
CY2017 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2018 us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk and of Significant Customers</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially expose the Company to concentration of credit risk are cash and accounts receivable. Substantially all of the Company's cash deposits are maintained at large, creditworthy financial institutions. The Company's deposits, at times, may exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. As part of its ongoing procedures, the Company monitors its concentration of deposits with various financial institutions in order to avoid any undue exposure. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;">$28.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$44.7 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, in banks located outside the United States. The risk with respect to the Company's accounts receivable is managed by the Company through its policy of monitoring the creditworthiness of its customers to which it grants credit terms in the normal course of business.</font></div></div>
CY2018 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Product Warranty</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has defined warranties ranging from </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> 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.</font></div></div>
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acushnet Holdings Corp. (the &#8220;Company&#8221;), headquartered in Fairhaven, Massachusetts, is the global leader in the design, development, manufacture and distribution of performance-driven golf products. The Company has established positions across all major golf equipment and golf wear categories under its globally recognized brands of Titleist, FootJoy, Scotty Cameron and Vokey Design. Acushnet products are sold primarily to on-course golf pro shops and selected off-course golf specialty stores, sporting goods stores and other qualified retailers. The Company sells products primarily in the United States, Europe (primarily the United Kingdom, Germany, France and Sweden), Asia (primarily Japan, Korea, China and Singapore), Canada and Australia. Acushnet manufactures and sources its products principally in the United States, China, Thailand, the United Kingdom and Japan.</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acushnet Holdings Corp. was incorporated in Delaware on May 9, 2011 as Alexandria Holdings Corp., an entity owned by Fila Korea Co., Ltd. (&#8220;Fila Korea&#8221;), a leading sport and leisure apparel and footwear company which is a public company listed on the Korea Exchange, and a consortium of investors (the &#8220;Financial Investors&#8221;). Acushnet Holdings Corp. acquired Acushnet Company, its operating subsidiary, from Beam Suntory, Inc. (at the time known as Fortune Brands, Inc.) (&#8220;Beam&#8221;) on July 29, 2011.</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On November 2, 2016, the Company completed an initial public offering of </font><font style="font-family:inherit;font-size:10pt;">19,333,333</font><font style="font-family:inherit;font-size:10pt;"> shares of its common stock sold by selling stockholders at a public offering price of </font><font style="font-family:inherit;font-size:10pt;">$17.00</font><font style="font-family:inherit;font-size:10pt;"> per share. Upon the closing of the Company&#8217;s initial public offering, all remaining outstanding shares of the Company&#8217;s Series A redeemable convertible preferred stock (&#8220;Series A preferred stock&#8221;) were automatically converted into </font><font style="font-family:inherit;font-size:10pt;">11,556,495</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company&#8217;s common stock and the Company&#8217;s </font><font style="font-family:inherit;font-size:10pt;">7.5%</font><font style="font-family:inherit;font-size:10pt;"> convertible notes due 2021 (&#8220;convertible notes&#8221;) were automatically converted into </font><font style="font-family:inherit;font-size:10pt;">22,791,852</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company&#8217;s common stock. The underwriters of the Company&#8217;s initial public offering exercised their over-allotment option to purchase an additional </font><font style="font-family:inherit;font-size:10pt;">2,899,999</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock from the selling stockholders at the initial public offering price of </font><font style="font-family:inherit;font-size:10pt;">$17.00</font><font style="font-family:inherit;font-size:10pt;"> per share.</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Following the pricing of the initial public offering, Magnus Holdings Co., Ltd. (&#8220;Magnus&#8221;), a wholly-owned subsidiary of Fila Korea, purchased from the Financial Investors on a pro rata basis </font><font style="font-family:inherit;font-size:10pt;">14,818,720</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company&#8217;s common stock, resulting in Magnus holding a controlling ownership interest in the Company&#8217;s outstanding common stock. The </font><font style="font-family:inherit;font-size:10pt;">14,818,720</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company&#8217;s common stock sold by the Financial Investors were received upon the automatic conversion of certain of the Company&#8217;s outstanding convertible notes (Note </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;">) and Series A preferred stock (Note </font><font style="font-family:inherit;font-size:10pt;">15</font><font style="font-family:inherit;font-size:10pt;">). The remaining outstanding convertible notes and Series A preferred stock automatically converted into shares of the Company&#8217;s common stock prior to the closing of the initial public offering.&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 14, 2016, the Company effected a </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;">-for-one stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for its convertible notes, Series A preferred stock, and the exercise price for the common stock warrants and the strike price of stock-based compensation. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the common stock warrant exercise price, and convertible notes and redeemable convertible preferred stock conversion ratios.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s consolidated financial statements in accordance with U.S.&#160;GAAP requires management to make estimates and judgments that affect reported amounts of assets, liabilities, shareholders&#8217; equity, net sales and expenses, and the disclosure of contingent assets and liabilities in its consolidated financial statements. Actual results could differ from those estimates.</font></div></div>

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0001672013-19-000009-index-headers.html Edgar Link pending
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0001672013-19-000009.txt Edgar Link pending
0001672013-19-000009-xbrl.zip Edgar Link pending
a20190102145811.jpg Edgar Link pending
chart-4c33b82a5da458fa856.jpg Edgar Link pending
chart-d84e310e932850879fb.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
golf-20181231.xml Edgar Link completed
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