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Acushnet Holdings Corp. (GOLF) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF


Exhibit 99.1

Acushnet Holdings Corp. Announces
Fourth Quarter and Full Year 2020 Financial Results,
Declares Increased Quarterly Cash Dividend
Fourth Quarter and Full Year 2020 Financial Results
Fourth quarter net sales of $420.5 million, up 14.2% year over year, up 11.9% in constant currency
Full year net sales of $1,612.2 million, down 4.1% year over year, down 4.2% in constant currency
Fourth quarter net income attributable to Acushnet Holdings Corp. of $21.6 million, up 20.7% year over year
Full year net income attributable to Acushnet Holdings Corp. of $96.0 million, down 20.7% year over year
Fourth quarter Adjusted EBITDA of $48.1 million, up 8.1% year over year
Full year Adjusted EBITDA of $233.2 million, down 2.9% year over year
Cash Dividend
Increased quarterly cash dividend by 6.5% to $0.165 per share, or $12.3 million in aggregate
FAIRHAVEN, MA – February 25, 2021
– 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 fourth quarter and full year ended December 31, 2020.
“I am extremely appreciative of Acushnet’s team of dedicated associates for their great work in navigating a year filled with challenges and uncertainty. Our commitment to associate safety, product quality and customer care has guided the company throughout 2020, and we look forward to building upon our momentum in the new year,” said David Maher, Acushnet Company’s President and Chief Executive Officer. “Acushnet has held up well in these uncertain times, and I am confident our associates and trade partners will continue to adapt and excel as we move forward."
Mr. Maher continued, "Golf participation remains strong, and Acushnet’s momentum continued to build through the fourth quarter, resulting in reported sales gains across all segments and regions. We look forward to introducing a full lineup of exciting new products for the upcoming 2021 golf season. Titleist golf balls continue to be trusted by approximately 75% of players across worldwide tours, and our new Pro V1 and Pro V1x models represent our next chapter of performance, quality and innovation. Titleist TSi metals are off to a great start in the market and have been the most played driver on the PGA Tour since their debut in the fall. FootJoy’s new Premiere series was the #1 Shoe at the Masters, and the new HyperFlex is our latest entry in the athletic golf footwear category.”
1

The following information was filed by Acushnet Holdings Corp. (GOLF) on Thursday, February 25, 2021 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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Inside Acushnet Holdings Corp.'s 10-K Annual Report:

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 (Tables)
Leases - Components Of Lease Cost (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)
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 - 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)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Restructuring Liabilities Recognized On Balance Sheet (Details)
Restructuring Charges - Schedule Of Company's Restructuring Program (Details)
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: 0001672013-21-000013
Submitted to the SEC: Thu Feb 25 2021 4:14:53 PM EST
Accepted by the SEC: Thu Feb 25 2021
Period: Thursday, December 31, 2020
Industry: Sporting And Athletic Goods

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