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Acushnet Holdings Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:
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An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, if different estimates reasonably could have been used, or if changes in the estimate that are reasonably possible could materially impact the financial statements.
We also use Adjusted EBITDA margin on a consolidated basis, which measures our Adjusted EBITDA as a percentage of net sales, because our management uses it to evaluate the effectiveness of our business strategies, assess our consolidated operating performance and make decisions regarding pricing of our products, go to market execution and costs to incur across our business.
Global supply chain issues, the impact of inflation and the impact of changes in foreign currency exchange rates have resulted in constrained raw material, component and sourced product availability and increased raw material and other input costs, including higher freight expense.
The impact of inflation, particularly in the form of higher raw material costs, as well as the impact of changes in foreign currency exchange rates, is expected to continue in 2023; however, to a lesser extent than experienced in 2022.
We primarily use Adjusted EBITDA on a consolidated basis to evaluate the effectiveness of our business strategies, assess our consolidated operating performance and make decisions regarding pricing of our products, go to market execution and costs to incur across our business.
Projected benefit obligations are measured...Read more
Sales volumes were negatively impacted...Read more
Key Performance Measures We use...Read more
In such case, sales of...Read more
On February 9, 2023, our...Read more
Decreasing the discount rate by...Read more
Our third-quarter sales are generally...Read more
Selling, General and Administrative Expenses...Read more
Overall, SG&A included a favorable...Read more
These increases were partially offset...Read more
The increase in gross profit...Read more
On August 2, 2022, proceeds...Read more
The increase in gross profit...Read more
During the year ended December...Read more
These increased costs negatively impacted...Read more
Our definition and calculation of...Read more
Our definition and calculation of...Read more
(2) Relates to severance and...Read more
Cash Flows from Investing Activities...Read more
We define Adjusted EBITDA in...Read more
The increase was driven by...Read more
Unusual or severe weather conditions...Read more
On August 30, 2022, we...Read more
Income Tax Expense Income tax...Read more
The increase in FootJoy golf...Read more
Other Expense, net Other expense,...Read more
Segment operating income includes directly...Read more
The increase was primarily driven...Read more
Decreasing the expected return on...Read more
SG&A also includes an increase...Read more
This analysis contains uncertainties related...Read more
Immediately prior to payment, the...Read more
The increase in Titleist golf...Read more
Additionally, from time to time,...Read more
We believe our differentiated focus...Read more
Gross margin decreased to 51.9%...Read more
As of December 31, 2022,...Read more
Operating expenses increased primarily as...Read more
The increase in Titleist golf...Read more
Gross profit increased primarily as...Read more
As a result of this...Read more
Our ability to generate sufficient...Read more
The increase in net sales...Read more
The increase in gross profit...Read more
Cash flow projections are based...Read more
In Korea and Rest of...Read more
In Japan, net sales increased...Read more
In EMEA, net sales increased...Read more
The increase was largely due...Read more
Interest Expense, net Interest expense,...Read more
Although we believe we have...Read more
Other Acquisitions On April 1,...Read more
The increase was primarily due...Read more
Unfavorable weather conditions in our...Read more
During the first quarter of...Read more
Because our hedging activities are...Read more
Given the Pro V1 franchise...Read more
We evaluate the recoverability of...Read more
See "Notes to Consolidated Financial...Read more
In each of the three...Read more
The increase in Titleist golf...Read more
We manage our worldwide cash...Read more
Operating income in our Titleist...Read more
Operating income in our FootJoy...Read more
If actual results are not...Read more
Gross Profit Gross profit increased...Read more
Our presentation of constant currency...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Acushnet Holdings Corp. provided additional information to their SEC Filing as exhibits
Ticker: GOLF
CIK: 1672013
Form Type: 10-K Annual Report
Accession Number: 0001672013-23-000011
Submitted to the SEC: Wed Mar 01 2023 4:10:39 PM EST
Accepted by the SEC: Wed Mar 01 2023
Period: Saturday, December 31, 2022
Industry: Sporting And Athletic Goods