Crocs Results Presentation Deck
Financial Outlook
Deleveraging Remains on Track
O
• Committed to quickly
deleveraging and targeting to
be below 2.0x adjusted gross
leverage by mid-year 2023
O
Share repurchases on hold
until adjusted gross leverage
is <2.0x, which we expect to
occur by mid-2023
Net Debt/Adj. EBITDA(2)
CROCS inc
Gross Debt / Adjusted EBITDA Outlook(1)
1.1x
3.1x
2.9x
PF YE 2021 for
HEYDUDE
2.1x
2.0x
PF Q1 2023 for
HEYDUDE
≤ 2.0x
0.8x
YE 2021
1. Assumes excess free cash flow used to repay borrowings. Gross Debt / Adjusted EBITDA calculated as: Total Gross Debt / Trailing Twelve Months ("TTM") Adjusted EBITDA.
Adjusted EBITDA calculated as Adjusted Operating Income plus depreciation and amortization. Please refer to Appendix for definition and Non-GAAP reconciliation.
b. Pro forma ("PF") includes HEYDUDE for the period prior to acquisition close (assuming the acquisition had closed on the first day of such trailing twelve month period).
a.
2. Net Debt / Adjusted EBITDA calculated as: (Total Gross Debt - Cash and Cash Equivalents) / TTM Adjusted EBITDA, as calculated above.
Mid-Year 2023E
Long Term
Target
1.0x - 1.5x
net leverage
30View entire presentation