Investor Presentaiton
APPENDIX
NON-GAAP RECONCILIATION (CONT'D)
Non-GAAP Cost of Sales, Gross Profit, and Gross Margin Reconciliation by Brand:
Three Months Ended March 31,
Crocs Brand GAAP revenues
2022
2021
(in thousands)
545,225
460,098
HEYDUDE Brand GAAP revenues
2022
Three Months Ended March 31,
2021
(in thousands)
114,923
$
GAAP cost of sales
248,617
206,879
GAAP cost of sales
85,458
Distribution centers (1)
(1,191)
(985)
Inventory reserve in Russia (3)
(1,800)
HEYDUDE inventory fair value adjustment (2)
Total adjustments
(27,927)
(27,927)
Total adjustments
(2,991)
(985)
Non-GAAP cost of sales
57,531
Non-GAAP cost of sales
245,626
205,894
GAAP gross profit
29,465
| | | | |
GAAP gross profit
296,608
253,219
GAAP gross margin as a percent of revenues
25.6 %
- %
GAAP gross margin as a percent of revenues
54.4 %
55.0 %
Non-GAAP gross profit
57,392
Non-GAAP gross profit
299,599
Non-GAAP gross margin as a percent of revenues
54.9 %
254,204
55.2 %
Non-GAAP gross margin as a percent of revenues
49.9 %
- %
Cr
CS
cr
CS
(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 write-up of HEYDUDE inventory costs to fair value upon the close of the acquisition on February 17, 2022.
CI
(3) Represents an inventory reserve expense in our EMEALA segment associated with our pause of certain operations in Russia.
OC
C
500
30
30
10.
JE
JC
70
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