Delaware |
0-51754 |
20-2164234 |
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(State or other jurisdiction |
(Commission File Number) |
(I.R.S. Employer |
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of incorporation) |
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Identification No.) |
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500 Eldorado Blvd., Building 5 | ||||||||||||||||||||
Broomfield, | Colorado |
80021 | ||||||||||||||||||
(Address of principal executive offices) |
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(Zip Code) |
Title of each class: | Trading symbol: | Name of each exchange on which registered: | ||||||||||||
Common Stock, par value $0.001 per share | CROX | The Nasdaq Global Select Market |
Exhibit
No.
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Description
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99.1 |
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99.2 | ||||||||
101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||
101.SCH | XBRL Taxonomy Extension Schema Document. | |||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | |||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | |||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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CROCS, INC.
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Date: January 8, 2024 | By: |
/s/ Anne Mehlman | ||||||
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Anne Mehlman | ||||||
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Executive Vice President and Chief Financial Officer |
Investor Contact: |
Erinn Murphy, Crocs, Inc. | |||||||
(303) 848-7005 | ||||||||
emurphy@crocs.com | ||||||||
PR Contact: | Melissa Layton, Crocs, Inc. | |||||||
(303) 848-7885 |
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mlayton@crocs.com |
Full Year 2023 (estimated): | |||||
Approximately: | |||||
Non-GAAP operating margin reconciliation: | |||||
GAAP operating margin | >25.5% | ||||
Non-GAAP adjustments associated with distribution center investments & Other | 1.5% | ||||
Non-GAAP operating margin | >27.0% | ||||
Year Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
(in thousands) | |||||||||||||||||
Revenues: | |||||||||||||||||
Crocs Brand | $ | 2,659,125 | $ | 2,313,416 | $ | 1,385,951 | |||||||||||
HEYDUDE Brand | 895,860 | — | — | ||||||||||||||
Total consolidated revenues | $ | 3,554,985 | $ | 2,313,416 | $ | 1,385,951 | |||||||||||
Income from operations: | |||||||||||||||||
Crocs Brand | $ | 852,025 | $ | 861,394 | $ | 329,423 | |||||||||||
HEYDUDE Brand | 211,361 | — | — | ||||||||||||||
Reconciliation of total segment income from operations to income before income taxes: | |||||||||||||||||
Enterprise corporate | (212,630) | (178,330) | (115,299) | ||||||||||||||
Income from operations | $ | 850,756 | $ | 683,064 | $ | 214,124 | |||||||||||
Depreciation and amortization: | |||||||||||||||||
Crocs Brand | $ | 18,877 | $ | 16,931 | $ | 13,869 | |||||||||||
HEYDUDE Brand | 12,248 | — | — | ||||||||||||||
Enterprise corporate | 8,104 | 15,045 | 13,750 | ||||||||||||||
Total consolidated depreciation and amortization | $ | 39,229 | $ | 31,976 | $ | 27,619 |
Three Months Ended March 31, 2023 | |||||
(in thousands) | |||||
Revenues: | |||||
Crocs Brand | $ | 648,778 | |||
HEYDUDE Brand | 235,388 | ||||
Total consolidated revenues | $ | 884,166 | |||
Income from operations: | |||||
Crocs Brand | $ | 218,007 | |||
HEYDUDE Brand | 76,620 | ||||
Reconciliation of total segment income from operations to income before income taxes: | |||||
Enterprise corporate | (59,699) | ||||
Income from operations | $ | 234,928 | |||
Depreciation and amortization: | |||||
Crocs Brand | $ | 7,437 | |||
HEYDUDE Brand | 3,506 | ||||
Enterprise corporate | 2,193 | ||||
Total consolidated depreciation and amortization | $ | 13,136 |
Three Months Ended June 30, 2023 | Six Months Ended June 30, 2023 | ||||||||||
(in thousands) | |||||||||||
Revenues: | |||||||||||
Crocs Brand | $ | 832,950 | $ | 1,481,728 | |||||||
HEYDUDE Brand | 239,417 | 474,805 | |||||||||
Total consolidated revenues | $ | 1,072,367 | $ | 1,956,533 | |||||||
Income from operations: | |||||||||||
Crocs Brand | $ | 317,684 | $ | 535,691 | |||||||
HEYDUDE Brand | 65,509 | 142,129 | |||||||||
Reconciliation of total segment income from operations to income before income taxes: | |||||||||||
Enterprise corporate | (64,704) | (124,403) | |||||||||
Income from operations | $ | 318,489 | $ | 553,417 | |||||||
Depreciation and amortization: | |||||||||||
Crocs Brand | $ | 7,099 | $ | 14,536 | |||||||
HEYDUDE Brand | 3,562 | 7,068 | |||||||||
Enterprise corporate | 1,983 | 4,176 | |||||||||
Total consolidated depreciation and amortization | $ | 12,644 | $ | 25,780 |
Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | ||||||||||
(in thousands) | |||||||||||
Revenues: | |||||||||||
Crocs Brand | $ | 798,769 | $ | 2,280,497 | |||||||
HEYDUDE Brand | 246,948 | 721,753 | |||||||||
Total consolidated revenues | $ | 1,045,717 | $ | 3,002,250 | |||||||
Income from operations: | |||||||||||
Crocs Brand | $ | 297,456 | $ | 833,145 | |||||||
HEYDUDE Brand | 31,776 | 173,905 | |||||||||
Reconciliation of total segment income from operations to income before income taxes: | |||||||||||
Enterprise corporate | (55,380) | (179,781) | |||||||||
Income from operations | $ | 273,852 | $ | 827,269 | |||||||
Depreciation and amortization: | |||||||||||
Crocs Brand | $ | 8,692 | $ | 23,228 | |||||||
HEYDUDE Brand | 3,919 | 10,987 | |||||||||
Enterprise corporate | 2,140 | 6,316 | |||||||||
Total consolidated depreciation and amortization | $ | 14,751 | $ | 40,531 |