“Interest Expense, net Interest expense, net increased $5.7 million for the year ended December 31, 2025 compared to the year ended December 31, 2024, primarily due to an increase in borrowings, offset in part by a decrease in interest rates.”
“These increases were partially offset by a decrease in FootJoy golf wear of $2.8 million, primarily due to the higher tariff costs, partially offset by the higher average selling prices discussed previously.”
“While it is difficult to accurately measure the impact of inflation due to the imprecise nature of the estimates required, we believe that inflation in the form of increased raw materials and other input costs, including inbound freight and wage rates, has at times impacted our business, results of operations, financial position and cash flows.”