Crocs Results Presentation Deck
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APPENDIX
NON-GAAP RECONCILIATION
Non-GAAP Cost of Sales, Gross Profit, and Gross Margin Reconciliation:
Six Months Ended June 30,
2022
2021
GAAP revenues
GAAP cost of sales
Distribution centers (1)
HEYDUDE inventory fair value step-up (2)
Inventory reserve in Russia (3)
Total adjustments
Non-GAAP cost of sales
GAAP gross profit
GAAP gross margin
Non-GAAP gross profit
Non-GAAP gross margin
SA
Three Months Ended June 30,
2022
2021
964,581 $
466,848
(1,389)
(34,323)
575
(35,137)
431,711 $
497,733
51.6%
532,870
55.2 %
(in thousands)
640,773 $
245,592
(1,115)
(1,115)
244,477
395,181
61.7 %
396,296
61.8 %
$
1,624,729 $
802,072
(2,580)
(62,250)
(1,225)
(66,055)
736,017
822,657
50.6%
888,712
54.7%
$
1,100,871
452,471
(2,100)
(2,100)
450,371
648,400
58.9 %
650,500
59.1 %
(1) Represents expenses, including expansion costs and duplicate rent costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands.
(2) Represents a step-up of HEYDUDE inventory costs to fair value upon the close of the acquisition on February 17, 2022.
(3) Represents the net impact of an inventory reserve expense in our EMEALA segment associated with the continued shutdown of our direct operations in Russia.
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