Crocs Investor Presentation Deck
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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
HEYDUDE acquisition and integration costs (1)
Impact of shutdown of Russia direct operations (2)
Duplicate headquarters rent (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 December 31,
2022
2021
945,162
(3) Represents duplicate rent costs associated with our upcoming move to a new headquarters.
(4) Represents 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.
276,271
(4,992)
(8,489)
(973)
(3,782)
(18,236)
258,035
29.2 %
27.3 %
$
$
(in thousands)
586,626
212,036
(6,362)
(6,362)
205,674
36.1 %
35.1 %
2022
Year Ended
December 31,
$ 3,554,985
$
$ 1,009,526
(38,197)
(14,286)
(3,348)
(4,909)
(60,740)
948,786
28.4 %
26.7 %
2021
$ 2,313,416
$ 737,156
(6,362)
$
(6,362)
730,794
(1) Represen
costs related to the acquisition and integration of HEYDUDE, including legal, professional, com
ting, and transaction fees.
(2) Represents various costs associated with the continued shutdown of our direct operations in Russia, including the recognition of cumulative translation adjustments into earnings,
severance, and lease exit costs and penalties.
31.9 %
31.6%
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