Acushnet Holdings Corp.GOLF

Acushnet Holdings Corp. Fair Value Disclosure

10-KFiled Feb 27, 20262 min read
Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 were as follows:
 Fair Value Measurements as of 
 December 31, 2025 using: 
(in thousands)Level 1Level 2Level 3Balance Sheet Location
Assets    
Rabbi trust$2,906 $— $— Prepaid and other assets
Foreign exchange derivative instruments— 2,950 — Prepaid and other assets
Deferred compensation program assets719 — — Other assets
Total assets$3,625 $2,950 $— 
Liabilities
Foreign exchange derivative instruments$— $1,746 $— Accrued expenses and other liabilities
Deferred compensation program liabilities719 — — Other noncurrent liabilities
Total liabilities$719 $1,746 $— 
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 were as follows:
 Fair Value Measurements as of 
 December 31, 2024 using: 
(in thousands)Level 1Level 2Level 3Balance Sheet Location
Assets    
Rabbi trust$3,150 $— $— Prepaid and other assets
Foreign exchange derivative instruments— 8,135 — Prepaid and other assets
Interest rate derivative instruments— 4 — Prepaid and other assets
Deferred compensation program assets633 — — Other assets
Total assets$3,783 $8,139 $— 
Liabilities
Foreign exchange derivative instruments$— $251 $— Accrued expenses and other liabilities
Interest rate derivative instruments— 1 — Accrued expenses and other liabilities
Deferred compensation program liabilities633 — — Other noncurrent liabilities
Total liabilities$633 $252 $— 
Rabbi trust assets are used to fund certain retirement obligations of the Company. The assets underlying the Rabbi trust are equity and fixed income exchange‑traded funds.
Deferred compensation program assets and liabilities represent a program where select employees could defer compensation until termination of employment. Effective July 29, 2011, this program was amended to cease all employee compensation deferrals and provided for the distribution of all previously deferred employee compensation. The program remains in effect with respect to the value attributable to the employer match contributed prior to July 29, 2011.
Foreign exchange derivative instruments are foreign exchange forward contracts primarily used to limit currency risk that would otherwise result from changes in foreign exchange rates (Note 12). The Company used the mid‑price of foreign exchange forward rates as of the close of business on the valuation date to value each foreign exchange forward contract at each reporting period.
Interest rate derivative instruments are interest rate swap contracts used to reduce interest rate risk related to the Company's floating rate debt (Note 12). The valuation for the interest rate swap was calculated as the net of the discounted future cash flows of the pay and receive legs of the swap. Mid-market interest rates on the valuation date were used to create the forward curve for floating legs and discount curve.
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Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 27, 2025
2021Mar 1, 2022
2020Feb 25, 2021

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

Other Available Disclosures

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