Crocs Results 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
GAAP selling, general and administrative expenses
Information technology project discontinuation
HEYDUDE acquisition and integration costs (1)
Duplicate headquarters rent (2)
Bad debt impact in Russia (3)
Other (4)
Total adjustments
Non-GAAP selling, general and administrative expenses (5)
GAAP selling, general and administrative expenses as a percent of revenues
Non-GAAP selling, general and administrative expenses as a percent of revenues
Three Months Ended March 31,
2023
2022
(in thousands)
884,166 $
241,442
(4,119)
(1,286)
(1,067)
(2,360)
(8,832)
232,610
27.3%
26.3%
$
660,148
206,247
(20,601)
(5,267)
(25,868)
180,379
31.2%
27.3%
(1) Represents costs related to the integration of HEYDUDE in the three months ended March 31, 2023 and costs related to the acquisition of HEYDUDE in the three months ended
March 31, 2022.
(2) Represents duplicate rent costs associated with our upcoming move to a new headquarters.
(3) Represents prior year bad debt expense associated with the impact of the war between Russia and Ukraine on wholesale partners in Russia.
(4) 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.
CROCS inc
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