Crocs Investor Presentation Deck
NON-GAAP RECONCILIATION (cont'd)
Non-GAAP selling, general and administrative expenses and selling, general and administrative expenses as a percent of revenues reconciliation:
Nine Months Ended September 30,
GAAP revenues
GAAP selling, general and
administrative expenses
Donations of inventory
COVID-19 severance costs
COVID-19 impact of bad debt
expense
(1)
Other COVID-19 costs (2)
Duplicate headquarters rent (3)
Other
Total adjustments
Non-GAAP selling, general and
administrative expenses (4)
GAAP selling, general and
administrative expenses as a
percent of revenues
Non-GAAP selling, general and
administrative expenses as a
percent of revenues
SA
$
Three Months Ended September 30,
2020
2021
625,919 $
196,728
196,728
31.4%
$
(in thousands)
361,736 $
134,683
(50)
48
(183)
(426)
(1,652)
(2,263)
132,420
37.2 %
$
36.6 %
2021
1,726,790
525, 120
||||||||||
525,120 $
30.4 %
$
31.4%
(1) Represents bad debt expense associated with the impact of COVID-19 on wholesale partners in our Asia Pacific and Americas segments.
(2) Represents costs incurred in response to COVID-19, including hazard pay, cleaning costs, and legal costs.
(3) Represents duplicate rent costs associated with our move to our new headquarters in Broomfield, Colorado.
(4) Non-GAAP selling, general and administrative expenses are presented gross of tax.
crocs™
30.4%
2020
974,445
371,371
(9,970)
(2,403)
(4,433)
(827)
(1,120)
(2,133)
(20,886)
350,485
38.1 %
36.0 %
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