Crocs Investor Presentation Deck
NON-GAAP RECONCILIATIONS
Non-GAAP Cost of Sales, Gross Profit, and Gross Margin Reconciliation:
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
crocs™
$
GA
$
Nine Months Ended
September 30, 2022
(in thousands)
2,609,823
1,245,864
(4,896)
(62,238)
(200)
(67,334)
1,178,530
1,363,959
52.3%
1,431,293
54.8%
(1) Represents expenses, including expansion costs and duplicate rent costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands.
(2) Primarily 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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