Callaway 2013 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2013 Callaway annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

F-39
The table below contains information utilized by management to evaluate its operating segments.
Years Ended December 31,
2013 2012 2011
(In thousands)
Net sales:
Golf Clubs..................................................................................................... $ 710,654 $ 694,489 $ 726,169
Golf Balls...................................................................................................... 132,147 139,576 160,359
$ 842,801 $ 834,065 $ 886,528
Loss before income tax:
Golf Clubs(1)................................................................................................. $ 27,684 $ (59,827)$ (3,899)
Golf Balls(1) .................................................................................................. 1,582 (15,019)(12,655)
Reconciling items(2) ..................................................................................... (42,588)(43,200)(73,707)
$(13,322)$
(118,046)$
(90,261)
Identifiable assets:(3)
Golf Clubs..................................................................................................... $ 374,473 $ 328,210 $ 409,074
Golf Balls(4) .................................................................................................. 49,261 64,203 92,280
Reconciling items(3) ..................................................................................... 240,129 245,223 225,758
$ 663,863 $ 637,636 $ 727,112
Additions to long-lived assets:
Golf Clubs..................................................................................................... $ 13,250 $ 16,347 $ 23,087
Golf Balls...................................................................................................... 1,163 260 6,680
$ 14,413 $ 16,607 $ 29,767
Goodwill:
Golf Clubs..................................................................................................... $ 29,212 $ 29,034 $ 29,203
Golf Balls...................................................................................................... — — —
$ 29,212 $ 29,034 $ 29,203
Depreciation and amortization:
Golf Clubs..................................................................................................... $ 21,019 $ 21,096 $ 26,695
Golf Balls...................................................................................................... 4,524 13,315 11,941
$ 25,543 $ 34,411 $ 38,636
(1) The tables below includes total charges absorbed by the Company’s operating segments from the restructuring
initiatives discussed in Note 3 (in thousands):
Year Ended December 31, 2013
Golf
Clubs
Golf
Balls
Corporate
G&A(2) Total
Cost Reduction Initiatives................................................................. $ 6,395 $ 6,973 $ 3,188 $ 16,556
Year Ended December 31, 2012
Golf
Clubs
Golf
Balls
Corporate
G&A(2) Total
Cost Reduction Initiatives................................................................. $ 30,398 $ 16,589 $ 7,074 $ 54,061
Reorganization and Reinvestment Initiatives ................................... 812 240 (40) 1,012
Total.................................................................................................. $ 31,210 $ 16,829 $ 7,034 $ 55,073