Acushnet Holdings Corp. (GOLF) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Titleist golf balls	678.8	667.6	507.8	551.6	524.0	512.0		535.5
FootJoy golf wear	618.0	580.6	415.3	441.9	439.7	437.5		418.9
Titleist golf clubs	609.6	551.5	418.4	434.4	445.3	398.0		388.3
Titleist golf gear	204.9	192.6	149.4	150.0	146.1	142.9		129.4
Other	159.0	155.7	121.2	103.5	78.7	69.9		30.9
Total revenues [+]	2,270.3	2,147.9	1,612.2	1,681.4	1,633.7	1,560.3	0.0	1,503.0
Products	2,270.3	2,147.9	1,612.2	1,681.4	1,633.7	1,560.3
Net interest income		1.6	3.3	1.0	0.5
Revenue growth [+]	5.7%	33.2%	-4.1%	2.9%	4.7%		-100.0%	-2.3%
Titleist golf balls	1.7%	31.4%	-7.9%	5.3%	2.3%			-1.5%
FootJoy golf wear	6.4%	39.8%	-6.0%	0.5%	0.5%			-0.7%
Titleist golf clubs	10.5%	31.8%	-3.7%	-2.5%	11.9%			-8.1%
Titleist golf gear	6.4%	28.9%	-0.4%	2.7%	2.2%			1.2%
Other	2.1%	28.4%	17.1%	31.6%	12.6%			41.4%
Cost of goods sold	1,091.1	1,029.5	782.3	809.1	791.4	758.4	773.3	727.1
Gross profit	1,179.2	1,118.4	829.8	872.2	842.4	801.9	-773.3	775.8
Gross margin	51.9%	52.1%	51.5%	51.9%	51.6%	51.4%		51.6%
Selling, general and administrative	833.4	795.4	610.6	627.5	611.9	578.3	600.1	604.0
Research and development	56.4	55.3	48.9	51.6	51.5	47.2	48.1	46.0
Other operating expenses							-1,565.7	6.6
EBITDA [+]	323.2	301.1	204.1	228.7	212.8	210.7	185.0	160.9
EBITDA growth	7.4%	47.5%	-10.7%	7.4%	1.0%	13.9%	15.0%	9.2%
EBITDA margin	14.2%	14.0%	12.7%	13.6%	13.0%	13.5%		10.7%
Depreciation	33.8	33.4	33.8	35.5	32.5	31.6	31.5	32.4
EBITA	289.4	267.7	170.3	193.2	180.3	179.1	153.5	128.5
EBITA margin	12.7%	12.5%	10.6%	11.5%	11.0%	11.5%		8.6%
Amortization of intangibles	7.9	7.9	11.6	7.5	8.0	9.3	9.3	9.3
EBIT [+]	281.5	259.8	158.7	185.7	172.3	169.8	144.2	119.2
EBIT growth	8.4%	63.8%	-14.5%	7.7%	1.5%	17.8%	20.9%	14.4%
EBIT margin	12.4%	12.1%	9.8%	11.0%	10.5%	10.9%		7.9%
Non-recurring items			13.2				1.7	1.6
Interest expense, net [+]	12.5	7.1	15.1	-20.5	17.2	-15.7	48.6	58.6
Interest expense	13.3	7.7	15.6	-19.6	18.4		49.9	60.3
Interest income	0.7	0.6	0.5	0.8	1.2	15.7	1.4	1.7
Other income (expense), net [+]	-9.6	-4.9	-17.3	-40.9	-4.9	-33.9	-4.7	-26.8
Other non-operating gains/losses	-0.8	1.4	3.5	1.5	0.5	1.3
Other	-0.8	1.4	3.5	1.5	0.5	1.3	2.2	-0.2
Pre-tax income	259.4	247.8	113.0	165.2	150.3	151.7	89.2	32.2
Income taxes	54.4	63.6	13.0	40.6	47.2	48.5	39.7	28.0
Tax rate	20.9%	25.7%	11.5%	24.6%	31.4%	32.0%	44.5%	87.1%
Minority interest	5.8	5.4	4.0	3.5	3.2	4.5	4.5	5.1
Net income	199.3	178.9	96.0	121.1	99.9	98.7	39.7	-14.8
Net margin	8.8%	8.3%	6.0%	7.2%	6.1%	6.3%		-1.0%

Basic EPS [+]	$2.77	$2.40	$1.29	$1.61	$1.34	$1.33	$1.27	($0.74)
Growth	15.4%	86.2%	-19.7%	20.2%	0.7%	4.5%	-271.6%	-416.6%
Diluted EPS [+]	$2.75	$2.38	$1.28	$1.60	$1.32	$1.32	$0.62	($0.74)
Growth	15.6%	85.8%	-20.0%	20.8%	0.0%	114.6%	-183.4%	-416.6%

Dividends per share [+]	$0.72	$0.66	$0.62	$0.56	$0.52	$0.48
Growth	9.1%	6.5%	10.7%	7.7%	8.3%

Shares outstanding (basic) [+]	72.0	74.5	74.5	75.4	74.8	74.4	31.2	19.9
Growth	-3.5%	0.1%	-1.2%	0.9%	0.5%	138.1%	56.7%	19.3%
Shares outstanding (diluted) [+]	72.6	75.3	75.1	75.8	75.5	74.6	64.3	19.9
Growth	-3.6%	0.3%	-0.9%	0.4%	1.2%	16.0%	222.6%	19.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.