Acushnet Holdings Corp.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
GOLF$85.03+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net income | $187,160 | $201,842 | $198,607 |
| Adjustments to reconcile net income to cash flows provided by operating activities | |||
| Depreciation and amortization | 55,292 | 55,888 | 51,356 |
| Unrealized foreign exchange (gain) loss | (2,823) | (2,856) | 1,507 |
| Amortization of debt issuance costs | 1,757 | 1,754 | 927 |
| Share-based compensation | 28,580 | 30,792 | 29,709 |
| Loss on disposals of property, plant and equipment | 725 | 902 | 99 |
| Gain on deconsolidation of VIE (Note 8) | (20,887) | — | — |
| Loss from equity method investment (Note 8) | 1,113 | — | — |
| Loss on debt extinguishment (Note 11) | 16,970 | — | — |
| Deferred income taxes | 13,941 | 915 | 15,413 |
| Changes in operating assets and liabilities | |||
| Accounts receivable | 11,962 | (26,799) | 13,785 |
| Inventories | (20,393) | 21,659 | 58,897 |
| Accounts payable | (1,672) | 1,875 | (12,105) |
| Accrued taxes | (5,086) | (8,222) | 6,221 |
| Other assets and liabilities | (72,269) | (32,642) | 7,411 |
| Cash flows provided by operating activities | 194,370 | 245,108 | 371,827 |
| Cash flows from investing activities | |||
| Additions to property, plant and equipment | (74,342) | (74,624) | (75,364) |
| Additions to intangible assets (Note 9) | — | — | (25,235) |
| Other, net | — | — | (887) |
| Cash flows used in investing activities | (74,342) | (74,624) | (101,486) |
| Cash flows from financing activities | |||
| Proceeds from credit facilities (Note 11) | 1,780,933 | 1,243,120 | 1,527,896 |
| Repayments of credit facilities (Note 11) | (1,752,274) | (1,178,799) | (1,739,308) |
| Proceeds from senior unsecured notes (Note 11) | 500,000 | — | 350,000 |
| Repayments of senior unsecured notes (Note 11) | (350,000) | — | — |
| Payment of redemption premium (Note 11) | (12,908) | — | — |
| Payment of debt issuance costs | (9,592) | — | (6,328) |
| Purchases of common stock | (211,524) | (172,799) | (334,088) |
| Dividends paid on common stock | (56,156) | (54,291) | (52,480) |
| Payment of employee restricted stock tax withholdings | (11,560) | (16,914) | (11,495) |
| Other, net | (1,742) | — | 1,078 |
| Cash flows used in financing activities | (124,823) | (179,683) | (264,725) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 1,824 | (3,177) | 915 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (2,971) | (12,376) | 6,531 |
| Cash, cash equivalents and restricted cash, beginning of year | 53,059 | 65,435 | 58,904 |
| Cash, cash equivalents and restricted cash, end of year | $50,088 | $53,059 | $65,435 |
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