Topgolf Callaway Brands Corp. (MODG) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
2180 RUTHERFORD RD CARLSBAD, CA 92008-8815 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3949 - Sporting and Athletic Goods, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 394 | 180 | 352 | 366 | 107 | 64 | |||
| Cash and cash equivalent | 394 | 180 | 352 | 366 | 107 | 64 | |||
| Restricted cash and investments | 1 | 19 | 1 | ||||||
| Receivables | 201 | 167 | 105 | 139 | 150 | 72 | |||
| Inventory, net of allowances, customer advances and progress billings | 794 | 959 | 533 | 353 | 457 | 338 | |||
| Inventory | 794 | 959 | 533 | 353 | 457 | 338 | |||
| Prepaid expense | 56 | 57 | 54 | ||||||
| Other current assets | 183 | 136 | 119 | 55 | 76 | 51 | |||
| Total current assets: | 1,628 | 1,519 | 1,166 | 913 | 789 | 525 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1 | ✕ | |||||||
| Operating lease, right-of-use asset | 1,410 | 1,419 | 1,385 | 195 | ✕ | ||||
| Nontrade receivables | 1 | ||||||||
| Property, plant and equipment | 2,157 | 1,810 | 1,451 | 146 | 133 | 88 | |||
| Intangible assets, net (including goodwill) | 3,494 | 1,984 | 3,489 | 541 | 697 | 281 | |||
| Goodwill | 1,989 | 1,984 | 1,960 | 57 | 204 | 56 | |||
| Intangible assets, net (excluding goodwill) | 1,506 | 1,529 | 484 | 493 | 225 | ||||
| Deferred income tax assets | 60 | ✕ | |||||||
| Other noncurrent assets | 432 | 355 | 218 | 15 | 16 | 12 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 74 | |||
| Other undisclosed noncurrent assets | 1,504 | 39 | 110 | 250 | 147 | ||||
| Total noncurrent assets: | 7,493 | 7,072 | 6,582 | 1,068 | 1,171 | 528 | |||
| TOTAL ASSETS: | 9,121 | 8,590 | 7,748 | 1,981 | 1,961 | 1,053 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 481 | 580 | 491 | 279 | 276 | 209 | |||
| Taxes payable | ✕ | ✕ | ✕ | 6 | |||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 129 | 31 | ||||
| Accounts payable | 131 | 159 | 139 | 66 | 68 | 42 | |||
| Accrued liabilities | 274 | 406 | 137 | 165 | 196 | 127 | |||
| Other undisclosed accounts payable and accrued liabilities | 76 | 15 | 87 | 10 | 12 | 39 | |||
| Deferred revenue | 111 | 95 | 94 | ✕ | |||||
| Debt | 109 | 440 | 20 | 44 | 7 | 2 | |||
| Other liabilities | 43 | 35 | 48 | ||||||
| Other undisclosed current liabilities | 204 | 26 | 213 | 68 | 240 | 92 | |||
| Total current liabilities: | 948 | 1,176 | 866 | 391 | 523 | 303 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,518 | 1,402 | 2,543 | 829 | 443 | 7 | |||
| Long-term debt, excluding current maturities | 1,518 | 1,176 | 1,025 | 651 | 443 | 7 | |||
| Finance lease, liability | 226 | 132 | ✕ | ||||||
| Liabilities, other than long-term debt | 1,800 | 1,806 | 328 | 85 | 89 | 8 | |||
| Accounts payable and accrued liabilities | 7 | 7 | 4 | ||||||
| Deferred revenue | 4 | ✕ | |||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 73 | 2 | ||
| Deferred income tax liabilities | 37 | 118 | 164 | 59 | ✕ | ||||
| Other liabilities | 327 | 251 | 164 | 20 | 8 | 2 | |||
| Operating lease, liability | 1,433 | 1,438 | 1,385 | 178 | ✕ | ||||
| Other undisclosed noncurrent liabilities | 328 | 138 | |||||||
| Total noncurrent liabilities: | 3,319 | 3,208 | 3,199 | 914 | 670 | 15 | |||
| Total liabilities: | 4,266 | 4,384 | 4,065 | 1,305 | 1,193 | 319 | |||
| Equity | |||||||||
| Equity, attributable to parent | 3,878 | 3,774 | 3,683 | 676 | 767 | 725 | |||
| Common stock | 2 | 2 | 2 | 1 | 1 | 1 | |||
| Treasury stock, value | (56) | (31) | (25) | (26) | (24) | (18) | |||
| Additional paid in capital | 3,033 | 3,013 | 3,052 | 347 | 324 | 341 | |||
| Accumulated other comprehensive loss | (48) | (62) | (27) | (7) | (22) | (14) | |||
| Retained earnings (accumulated deficit) | 948 | 853 | 682 | 360 | 489 | 414 | |||
| Equity, attributable to noncontrolling interest | 10 | ||||||||
| Total equity: | 3,878 | 3,774 | 3,683 | 676 | 767 | 734 | |||
| Other undisclosed liabilities and equity | 976 | 432 | |||||||
| TOTAL LIABILITIES AND EQUITY: | 9,121 | 8,590 | 7,748 | 1,981 | 1,961 | 1,053 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,285 | 3,996 | 3,133 | 1,589 | 1,701 | 1,243 | ||
| Cost of revenue (Cost of Product and Service Sold) | (14) | (18) | (12) | (932) | (934) | (664) | ||
| Gross profit: | 4,271 | 3,978 | 3,122 | 658 | 767 | 578 | ||
| Operating expenses | (4,047) | (3,739) | (2,929) | (763) | (634) | (450) | ||
| Other undisclosed operating income | 14 | 18 | 12 | |||||
| Operating income (loss): | 238 | 257 | 205 | (106) | 133 | 128 | ||
| Nonoperating income | 7 | 28 | 261 | 25 | 2 | 8 | ||
| Investment income, nonoperating | 253 | |||||||
| Other nonoperating income | 7 | 28 | 9 | 25 | 2 | 8 | ||
| Interest and debt expense | (210) | (143) | (116) | (47) | (39) | (6) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 0 | 1 | 1 | |||||
| Income (loss) from continuing operations before income taxes: | 35 | 142 | 351 | (127) | 96 | 131 | ||
| Income tax expense (benefit) | 60 | 16 | (29) | 1 | (17) | (26) | ||
| Income (loss) from continuing operations: | 95 | 158 | 322 | (127) | 79 | 105 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 322 | (127) | 79 | 105 | |
| Net income (loss): | 95 | 158 | 322 | (127) | 79 | 105 | ||
| Other undisclosed net income (loss) attributable to parent | 0 | (1) | ||||||
| Net income (loss) available to common stockholders, basic: | 95 | 158 | 322 | (127) | 79 | 105 | ||
| Interest on convertible debt | 7 | 6 | ||||||
| Net income (loss) available to common stockholders, diluted: | 102 | 164 | 322 | (127) | 79 | 105 | ||
Comprehensive Income ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 95 | 158 | 322 | (127) | 79 | 105 | ||
| Other comprehensive income (loss) | 13 | (34) | (21) | (114) | 69 | 98 | ||
| Other undisclosed comprehensive income (loss) | 130 | (78) | (105) | |||||
| Comprehensive income (loss): | 108 | 124 | 301 | (111) | 70 | 98 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 0 | (0) | ||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1 | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 109 | 124 | 301 | (111) | 71 | 98 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.