Callaway 2009 Annual Report Download - page 115

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The table below contains information utilized by management to evaluate its operating segments.
2009 2008 2007
(In thousands)
Net sales
Golf Clubs ................................... $769,914 $ 894,129 $ 911,527
Golf Balls .................................... 180,885 223,075 213,064
$950,799 $1,117,204 $1,124,591
Income (loss) before income tax
Golf Clubs ................................... $ 38,934 $ 134,018 $ 151,759
Golf Balls .................................... (13,864) 6,903 902
Reconciling items(1) ............................ (54,673) (39,614) (64,386)
$ (29,603) $ 101,307 $ 88,275
Identifiable assets(2)
Golf Clubs ................................... $406,835 $ 429,170 $ 413,352
Golf Balls(3) .................................. 129,796 146,855 140,730
Reconciling items(2) ............................ 339,299 279,313 283,996
$875,930 $ 855,338 $ 838,078
Goodwill
Golf Clubs ................................... $ 31,113 $ 29,744 $ 32,060
Golf Balls .................................... — — —
$ 31,113 $ 29,744 $ 32,060
Depreciation and amortization
Golf Clubs ................................... $ 26,644 $ 23,863 $ 23,975
Golf Balls .................................... 14,104 14,100 11,351
$ 40,748 $ 37,963 $ 35,326
(1) Represents corporate general and administrative expenses and other income (expense) not utilized by
management in determining segment profitability. In 2008, the reconciling items include a one-time reversal
of $19,922,000 in connection with the Company’s termination of a long-term energy supply contract (see
Note 10).
(2) Identifiable assets are comprised of net inventory, certain property, plant and equipment, intangible assets
and goodwill. Reconciling items represent unallocated corporate assets not segregated between the two
segments.
(3) Includes property classified as available for sale in the amount of $1,890,000 in both 2009 and 2008.
Property held for sale represents the net book value of the golf ball manufacturing facility in Gloversville,
New York as a result of the Company’s announcement in May 2008 to close this facility (see Note 6).
F-39