Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Valuation of Foreign Currency Exchange Contracts by Pricing Levels

The following table summarizes the valuation of our foreign currency forward contracts and interest rate hedge agreements (see Note 14) that are measured at fair value on a recurring basis, and are classified within Level 2 of the fair value hierarchy as of September 30, 2023 and December 31, 2022 (in millions):


	Fair Value		Level 2
September 30, 2023
Foreign currency forward contracts—asset position	$	12.4	$	12.4
Foreign currency forward contracts—liability position	(0.8)		(0.8)
Interest rate hedge agreements—asset position	16.2		16.2

	$	27.8	$	27.8
December 31, 2022
Foreign currency forward contracts—asset position	$	0.2	$	0.2
Foreign currency forward contracts—liability position	(5.4)		(5.4)
Interest rate hedge agreements—asset position	7.2		7.2

	$	2.0	$	2.0

Fair Value Relating to Financial Assets and Liabilities

The table below presents information about the fair value of our financial assets and liabilities, and is provided for comparative purposes only relative to the carrying values recognized in the condensed consolidated balance sheets as of September 30, 2023 and consolidated balance sheets as of December 31, 2022 (in millions):


		September 30, 2023				December 31, 2022
	Measurement Level	Carrying Value		Fair Value		Carrying Value		Fair Value

U.S. Asset-Based Revolving Credit Facility	Level 2	$	48.0	$	48.0	$	181.1	$	181.1
2022 Japan ABL Credit Facility	Level 2	$	30.1	$	30.1	$	38.2	$	38.2
2023 Term Loan B	Level 2	$	1,243.8	$	1,239.1	$	—	$	—
Convertible Notes	Level 2	$	258.3	$	271.3	$	258.3	$	337.7
Equipment Notes	Level 2	$	21.2	$	18.4	$	27.8	$	23.6
Mortgage Loans	Level 2	$	45.4	$	53.4	$	45.9	$	55.3
Term Loan B	Level 2	$	—	$	—	$	432.0	$	431.1
Topgolf Term Loan	Level 2	$	—	$	—	$	336.9	$	337.1
Topgolf Revolving Credit Facility	Level 2	$	—	$	—	$	110.0	$	110.0