Crocs Results Presentation Deck
APPENDIX
Non-GAAP Reconciliation (Cont'd)
Non-GAAP selling, general and administrative expenses and selling, general and administrative
expenses as a percent of revenues reconciliation:
GAAP revenues
(1)
(2)
GAAP selling, general and administrative expenses
Information technology project discontinuation
Duplicate headquarters rent (¹)
(2)
HEYDUDE acquisition and integration costs
Impact of shutdown of Russia direct operations
(4)
Other
Total adjustments
Non-GAAP selling, general and administrative expenses
(3)
(4)
(3)
(5)
GAAP selling, general and administrative expenses as a percent of revenues
Non-GAAP selling, general and administrative expenses as a percent of revenues
CROCS inc
Three Months Ended June 30,
2023
2022
1,072,367
302,818
(1,126)
(130)
(3,248)
(4,504)
298,314
28.2 %
27.8 %
$
(in thousands)
964,581
249,769
(1,202)
(5,741)
(570)
(7,513)
242,256
25.9 %
25.1 %
Six Months Ended June 30,
2023
2022
1,956,533
544,260 $
(4,119)
(2,193)
(1,416)
(5,608)
(13,336)
530,924
27.8 %
27.1 %
$
1,624,729
456,016
(1,202)
(26,342)
(5,837)
(33,381)
422,635
Represents duplicate rent costs associated with our upcoming move to a new headquarters.
Represents costs related to the integration of HEYDUDE in the three and six months ended June 30, 2023 and costs related to the acquisition and integration of HEYDUDE in the three months ended
June 30, 2022 and the partial period from the acquisition date of February 17, 2022 through June 30, 2022 (the "Partial Period").
Represents various costs in the prior year associated with the shutdown of our direct operations in Russia, including severance and lease exit costs and penalties.
Includes various restructuring costs, as well as costs associated with the implementation of a new enterprise resource planning system.
(5) Non-GAAP selling, general and administrative expenses are presented gross of tax.
28.1 %
26.0 %
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