Acushnet Holdings Corp.GOLF

Acushnet Holdings Corp. Earnings Per Share Disclosure

10-KFiled Feb 27, 20261 min read
Net Income per Common Share
The following is a computation of basic and diluted net income per common share attributable to Acushnet Holdings Corp.:
 Year ended December 31,
(in thousands, except share and per share amounts)202520242023
Net income attributable to Acushnet Holdings Corp.$188,545 $214,298 $198,429 
Weighted average number of common shares:
Basic60,299,145 63,345,806 67,063,933 
RSUs171,866 224,058 311,992 
PSUs97,041 78,374 141,180 
Diluted60,568,052 63,648,238 67,517,105 
Net income per common share attributable to Acushnet Holdings Corp.:
Basic$3.13 $3.38 $2.96 
Diluted$3.11 $3.37 $2.94 
Net income per common share attributable to Acushnet Holdings Corp. was calculated using the treasury stock method.
The Company’s potential dilutive securities for the years ended December 31, 2025, 2024 and 2023 include RSUs and PSUs. PSUs vest based upon achievement of performance targets and are excluded from the diluted shares outstanding unless the performance targets have been met as of the end of the applicable reporting period regardless of whether such performance targets are probable of achievement. During each of 2025, 2024 and 2023, the minimum performance target was achieved relating to certain PSUs and as a result, these PSUs have been included in diluted shares outstanding for the years ended December 31, 2025, 2024 and 2023.
The following securities have been excluded from the calculation of diluted weighted‑average common shares outstanding as their impact was determined to be anti‑dilutive:
 Year ended December 31,
 202520242023
RSUs122,994 161,217 66,590 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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