| Operating Segments |
The table below contains information utilized by management to evaluate its operating segments for the interim periods presented (in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Net sales: | | | | | | | | Golf Clubs | $ | 155,210 |
| | $ | 146,522 |
| | $ | 586,445 |
| | $ | 577,294 |
| Golf Balls | 32,640 |
| | 29,258 |
| | 121,052 |
| | 113,169 |
| | $ | 187,850 |
| | $ | 175,780 |
| | $ | 707,497 |
| | $ | 690,463 |
| Income before income taxes: | | | | | | | | Golf Clubs | $ | 2,818 |
| | $ | 6,564 |
| | $ | 71,166 |
| | $ | 69,555 |
| Golf Balls | 3,846 |
| | 3,511 |
| | 23,210 |
| | 17,559 |
| Reconciling items(1) | (11,109 | ) | | (12,145 | ) | | (22,988 | ) | | (37,092 | ) | | $ | (4,445 | ) | | $ | (2,070 | ) | | $ | 71,388 |
| | $ | 50,022 |
| Additions to long-lived assets: | | | | | | | | Golf Clubs | $ | 5,675 |
| | $ | 3,087 |
| | $ | 9,587 |
| | $ | 7,906 |
| Golf Balls | 1,043 |
| | 565 |
| | 3,169 |
| | 1,876 |
| | $ | 6,718 |
| | $ | 3,652 |
| | $ | 12,756 |
| | $ | 9,782 |
|
| | (1) | Reconciling items represent corporate general and administrative expenses and other income (expense) not included by management in determining segment profitability. The reconciling items for the nine months ended September 30, 2016 include a $17,662,000 gain that was recognized in the second quarter of 2016 in connection with the sale of approximately 10.0% of the Company's investment in Topgolf (see Note 7), combined with decreases in interest expense and corporate stock compensation, partially offset by an increase in foreign currency exchange losses. |
|