Crocs Investor Presentation Deck
NON-GAAP RECONCILIATION (cont'd)
Non-GAAP selling, general and administrative expenses reconciliation:
GAAP revenues
GAAP selling, general and administrative expenses
HEYDUDE pre-acquisition costs
Asset impairments (1)
Donations of inventory
COVID-19 impact of bad debt expense (2)
COVID-19 severance costs
Duplicate headquarters rent (3)
Other COVID-19 costs (4)
Other (5)
Total adjustments
Non-GAAP selling, general and administrative expenses (6)
GAAP selling, general and administrative expenses as a percent of revenues
Non-GAAP selling, general and administrative expenses as a percent of
revenues
crocs™
Three Months Ended December
31, 2021
2021
$ 586,626
$ 212,036
(6,362)
(6,362)
$ 205,674
36.1 %
35.1 %
2020
(in thousands)
$ 411,506
$164,453
(21,071)
70
315
(154)
(18)
8
(20,850)
$ 143,603
40.0 %
2021
34.9 %
Year Ended
December 31,
$ 2,313,416
737,156
(6,362)
(6,362)
$ 730,794
31.9 %
31.6%
$ 1,385,951
$
2020
$
535,824
(21,071)
(9,900)
(4,118)
(2,403)
(1,274)
(845)
(2,125)
(41,736)
494,088
38.7 %
35.6 %
(1) Represents impairments to our long-lived assets for a retail store in New York City and for our former corporate headquarters in Niwot, Colorado.
(2) Represents bad debt expense associated with the impact of COVID-19 on wholesale partners in our Asia Pacific and Americas segments.
(3) Represents ongoing duplicate rent costs associated with our move to our new headquarters in Broomfield, Colorado, while we conclude the lease for our former headquarters.
(4) Represents costs incurred in response to COVID-19, including hazard pay, cleaning costs, and legal costs.
(5) Represents non-recoverable duties, non-recurring costs related to the closure of company-owned retail stores in Australia, employee severance costs, and various other immaterial items.
(6) Non-GAAP selling, general and administrative expenses are presented gross of tax.
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