Crocs Investor 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)
(3)
(4)
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)
(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 September 30,
2023
2022
1,045,717
307,784
(976)
(545)
(1,749)
(3,270)
304,514
29.4%
29.1%
$
(in thousands)
985,094
277,239
(6,863)
40
(2,300)
(9,123)
268,116
Nine Months Ended September 30,
28.1 %
27.2%
2023
3,002,250
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.
852,044 $
(4,119)
(3,169)
(1,961)
(7,357)
(16,606)
835,438
28.4 %
27.8 %
$
2022
2,609,823
733,255
(33,205)
(5,797)
(3,502)
(42,504)
690,751
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 nine months ended September 30, 2023 and costs related to the acquisition and integration of HEYDUDE in the three months
ended September 30, 2022 and the partial period from the acquisition date of February 17, 2022 through September 30, 2022 (the "Partial Period").
28.1 %
26.5 %
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