expense 2.0 4.1 8.4 12.4
Non-cash lease
amortization
expense 2.8 4.3 9.1 13.1
Other expense,
net 0.5 0.4 0.5 0.4
------------------- ------------------- ------------------- -------------------
Topgolf
Adjusted
Segment
EBITDA $ 84.4 $ 90.9 $ 253.7 $ 231.1
=================== =================== =================== ===================
(1) We do not calculate GAAP net income at the operating segment level, but
have provided Topgolf's segment income from operations as a relevant
measurement of profitability. Segment income from operations does not include
interest expense and taxes as well as other non-cash and non-recurring items.
Segment operating income is reconciled to the Company's consolidated pre-tax
income in the Segment Results section of this release.
Twelve
Months Ended
Reconciliation of Topgolf Adjusted Segment EBITDA December 31,
-----------------
2023
-----------------
Topgolf Segment operating income(1) : $ 108.8
Non-GAAP depreciation and amortization expense 164.9
Non-cash stock compensation expense 12.9
Non-cash lease amortization expense 17.1
Other expense, net 0.6
-----------------
Topgolf Adjusted Segment EBITDA $ 304.3
=================
(1) We do not calculate GAAP net income at the operating segment level, but
have provided Topgolf's segment income from operations as a relevant
measurement of profitability. Segment income from operations does not include
interest expense and taxes as well as other non-cash and non-recurring items.
Segment operating income is reconciled to the Company's consolidated pre-tax
income in the Segment Results section of this release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/topgolf-callaway-brands-announces-third-quarter-2024-results-302303187.html
SOURCE Topgolf Callaway Brands Corp.
(END) Dow Jones Newswires
November 12, 2024 16:15 ET (21:15 GMT)
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