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Acushnet Holdings Corp. (GOLF) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF



Exhibit 99.1

Acushnet Holdings Corp. Announces
Full Year and Fourth Quarter 2019 Financial Results,
Declares Increased Quarterly Cash Dividend
Full Year and Fourth Quarter 2019 Financial Results
Full year net sales of $1,681.4 million, up 2.9% year over year, up 4.8% in constant currency
Fourth quarter net sales of $368.3 million, up 7.3% year over year, up 7.9% in constant currency
Full year net income attributable to Acushnet Holdings Corp. of $121.1 million, up 21.2% year over year
Fourth quarter net income attributable to Acushnet Holdings Corp. of $17.9 million, up 57.0% year over year
Full year Adjusted EBITDA of $240.1 million, up 4.0% year over year
Fourth quarter Adjusted EBITDA of $44.5 million, up 23.3% year over year
Cash Dividend and Share Repurchase
Increased quarterly cash dividend by 10.7% to $0.155 per share, or $11.5 million in aggregate
Fourth quarter share repurchases of 707,609 shares of common stock for an aggregate of $18.9 million

FAIRHAVEN, MA – February 27, 2020 – Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet"), a global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the full year and fourth quarter ended December 31, 2019.
“We are pleased with the Company’s 2019 results, which were fueled by several successful product launches that drove growth in sales and earnings,” said David Maher, Acushnet's President and Chief Executive Officer. “Our golf ball segment, in particular, showed great momentum in all major regions, driven by new Pro V1 and Pro V1x, and the Titleist ball count across professional tours came in at 73%, more than 8 times our nearest competitor. We also saw growth in our Titleist gear and FootJoy golf wear segments, and Titleist clubs performed well and as expected within our two-year product launch cycle. The success of our 2019 product launches affirms the commitment and great work of our associates and trade partners.
“For 2020, we have a number of exciting new initiatives in place across all product categories. We are committed to sustaining our Pro V1 momentum and launching new AVX, Tour Soft and Velocity models. We are poised to launch new Vokey SM8 wedges and Cameron Special Select Putters in the

1

The following information was filed by Acushnet Holdings Corp. (GOLF) on Thursday, February 27, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accumulated Other Comprehensive Loss, Net Of Tax
Accumulated Other Comprehensive Loss, Net Of Tax (Details)
Accumulated Other Comprehensive Loss, Net Of Tax (Tables)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts (Tables)
Business Combinations
Business Combinations (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Contingencies (Details)
Commitments And Contingencies - Purchase Commitments (Details)
Common Stock
Common Stock (Tables)
Common Stock - Narrative (Details)
Common Stock - Schedule Of Share Repurchase Activity (Details)
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Letters Of Credit (Details)
Debt And Financing Arrangements - Other Short-Term Borrowings (Details)
Debt And Financing Arrangements - Payments Of Debt Obligations Due By Period (Details)
Debt And Financing Arrangements - Schedule Of Debt And Financing Arrangements (Details)
Debt And Financing Arrangements - Senior Secured Credit Facility (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Effect Of Foreign Exchange Derivative Instruments In Comprehensive Loss And Statement Of Operations (Details)
Derivative Financial Instruments - Fair Value Of Foreign Exchange Derivative Instruments In Consolidated Balance Sheets (Details)
Description Of Business
Description Of Business (Details)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Compensation Expense (Details)
Equity Incentive Plans - Restricted Stock And Performance Stock Units (Details)
Equity Incentive Plans - Summary Of Shares Of Common Stock Issued (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities At Fair Value (Details)
Goodwill And Identifiable Intangible Assets, Net
Goodwill And Identifiable Intangible Assets, Net (Tables)
Goodwill And Identifiable Intangible Assets, Net - Class Of Identifiable Intangible Assets (Details)
Goodwill And Identifiable Intangible Assets, Net - Net Carrying Value &Amp; Reportable Segments (Details)
Goodwill And Identifiable Intangible Assets, Net - Net Carrying Value By Class (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Changes In Valuation Allowance (Details)
Income Taxes - Components Of Income Before Income Taxes (Details)
Income Taxes - Income Tax Expenses (Details)
Income Taxes - Net Deferred Tax Assets (Liabilities) (Details)
Income Taxes - Nol And Tax Credit Carryforwards (Details)
Income Taxes - Reconciliation (Details)
Income Taxes - Unrecognized Tax Benefit (Details)
Interest Expense, Net And Other Expense, Net
Interest Expense, Net And Other Expense, Net (Details)
Interest Expense, Net And Other Expense, Net (Tables)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases - Components Of Lease Cost (Details)
Leases - Future Minimum Rental Payments (Details)
Leases - Narrative (Details)
Leases - Reconciliation Of Lease Liabilities (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Remaining Lease Term And Weighted Average Discount Rate (Details)
Leases (Tables)
Net Income Per Common Share
Net Income Per Common Share (Tables)
Net Income Per Common Share - Calculation Of Diluted Weighted Average Common Shares Outstanding (Details)
Net Income Per Common Share - Computation Of Basic And Diluted Net Income Per Common Share (Details)
Pension And Other Postretirement Benefits
Pension And Other Postretirement Benefits (Details)
Pension And Other Postretirement Benefits (Tables)
Pension And Other Postretirement Benefits - Defined Contribution Plans (Details)
Pension And Other Postretirement Benefits - Estimated Contributions And Estimated Future Retirement Benefit Payments (Details)
Pension And Other Postretirement Benefits - Healthcare Cost Trend Rates (Details)
Pension And Other Postretirement Benefits - International Plans (Details)
Pension And Other Postretirement Benefits - One-Percentage-Point (Details)
Pension And Other Postretirement Benefits - Periodic Benefit Cost (Details)
Pension And Other Postretirement Benefits - Plan Assets And Funded Status (Details)
Pension And Other Postretirement Benefits - Plan Assets And Type Of Fair Value Measurement (Details)
Pension And Other Postretirement Benefits - Recognized On Consolidated Balance Sheets (Details)
Pension And Other Postretirement Benefits - U.S. Defined Benefit Plan (Details)
Pension And Other Postretirement Benefits - Weighted Average Assumptions (Details)
Product Warranty
Product Warranty (Details)
Product Warranty (Tables)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (Tables)
Revenue
Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - Depreciation And Amortization (Details)
Segment Information - Geographical Areas (Details)
Segment Information - Reconciliation (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Property, Plant, And Equipment (Details)
Unaudited Quarterly Financial Data
Unaudited Quarterly Financial Data (Details)
Unaudited Quarterly Financial Data (Tables)
Ticker: GOLF
CIK: 1672013
Form Type: 10-K Annual Report
Accession Number: 0001672013-20-000008
Submitted to the SEC: Thu Feb 27 2020 4:50:21 PM EST
Accepted by the SEC: Thu Feb 27 2020
Period: Tuesday, December 31, 2019
Industry: Sporting And Athletic Goods

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