XML 56 R42.htm IDEA: XBRL DOCUMENT
v3.22.4

OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Information Related to Reportable Operating Segments | The following tables set forth information related to reportable operating segments:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Revenues: |  |  |  |  |
North America (1) | $ | 1,644,630 |  |  | $ | 1,553,891 |  |  | $ | 832,540 |
Asia Pacific | 473,935 |  |  | 350,160 |  |  | 278,515 |
EMEALA (1) | 540,534 |  |  | 409,278 |  |  | 274,733 |
Brand corporate (2) | 26 |  |  | 87 |  |  | 163 |
Total Crocs Brand | 2,659,125 |  |  | 2,313,416 |  |  | 1,385,951 |
HEYDUDE Brand (3) | 895,860 |  |  | — |  |  | — |
Total consolidated revenues | $ | 3,554,985 |  |  | $ | 2,313,416 |  |  | $ | 1,385,951 |
Income from operations: |  |  |  |  |
North America (1) | $ | 683,350 |  |  | $ | 755,723 |  |  | $ | 313,913 |
Asia Pacific | 145,011 |  |  | 71,936 |  |  | 32,830 |
EMEALA (1) | 153,976 |  |  | 134,126 |  |  | 75,513 |
Brand corporate (2) | (130,312) |  |  | (100,391) |  |  | (92,833) |
Total Crocs Brand | 852,025 |  |  | 861,394 |  |  | 329,423 |
HEYDUDE Brand (3) | 211,361 |  |  | — |  |  | — |
Reconciliation of segment income from operations to income before income taxes: |  |  |  |  |
Enterprise corporate (2) | (212,630) |  |  | (178,330) |  |  | (115,299) |
Total consolidated income from operations | 850,756 |  |  | 683,064 |  |  | 214,124 |
Foreign currency gains (losses), net | 3,228 |  |  | (140) |  |  | (1,128) |
Interest income | 1,020 |  |  | 775 |  |  | 215 |
Interest expense | (136,158) |  |  | (21,647) |  |  | (6,742) |
Other income (expense), net | (338) |  |  | 1,797 |  |  | 510 |
Income before income taxes | $ | 718,508 |  |  | $ | 663,849 |  |  | $ | 206,979 |
Depreciation and amortization: |  |  |  |  |
North America (1) | $ | 10,804 |  |  | $ | 7,669 |  |  | $ | 3,453 |
Asia Pacific | 2,113 |  |  | 1,629 |  |  | 1,138 |
EMEALA (1) | 3,221 |  |  | 1,806 |  |  | 805 |
Brand corporate (2) | 2,739 |  |  | 5,827 |  |  | 8,473 |
Total Crocs Brand | 18,877 |  |  | 16,931 |  |  | 13,869 |
HEYDUDE Brand (3) | 12,248 |  |  | — |  |  | — |
Enterprise corporate (2) | 8,104 |  |  | 15,045 |  |  | 13,750 |
Total consolidated depreciation and amortization | $ | 39,229 |  |  | $ | 31,976 |  |  | $ | 27,619 |
(1) In the first quarter of 2022, certain revenues and expenses associated with our Latin America businesses previously reported in our ‘Americas’ segment were shifted into the ‘EMEA’ segment to better align with how we manage our distributor business. To reflect this change, we renamed our ‘Americas’ segment to ‘North America’ and renamed our ‘EMEA’ segment to ‘EMEALA.’ As a result of these changes, the previously reported amounts for revenues, income from operations, and depreciation and amortization for the year ended December 31, 2021 and 2020 have been revised to conform to current period presentation. Refer to Part I - Item 1. Financial Statements in our Quarterly Report on Form 10-Q for the period ended June 30, 2022 for more information. (2) In the first quarter of 2022, as a result of the Acquisition, all costs previously reported in “Unallocated corporate and other” were recast between ‘Brand corporate’ costs associated with the Crocs Brand and ‘Enterprise corporate’ costs, each of which is defined in the section preceding the above table. As a result of these changes, the previously reported amounts for income from operations and depreciation and amortization for the year ended December 31, 2021 and 2020 have been revised to conform to current period presentation. Refer to Part I - Item 1. Financial Statements in our Quarterly Report on Form 10-Q for the period ended June 30, 2022 for more information. (3) We acquired HEYDUDE on February 17, 2022 and in connection therewith added the HEYDUDE Brand as a new reportable operating segment. Therefore, the amounts shown above for the year ended December 31, 2022 represent results during the partial period beginning on the Acquisition Date through December 31, 2022, and there are no comparative amounts for the years ended December 31, 2021 or 2020. There were no customers who represented 10% or more of consolidated revenues during the years ended December 31, 2022, 2021 and 2020. The following table sets forth certain geographical information regarding our consolidated revenues for the periods as shown:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Location: |  |  |  |  |
United States | $ | 2,438,923 |  |  | $ | 1,507,482 |  |  | $ | 802,952 |
International (1) | 1,116,062 |  |  | 805,934 |  |  | 582,999 |
Total revenues | $ | 3,554,985 |  |  | $ | 2,313,416 |  |  | $ | 1,385,951 |
(1) No individual international country represented 10% or more of consolidated revenues in any of the years presented. The following table sets forth geographical information regarding property and equipment assets as of the dates shown:
| December 31,
| 2022 |  | 2021
| (in thousands)
Location: |  |  |
United States | $ | 148,078 |  |  | $ | 80,613 |
International (1) | 33,451 |  |  | 27,785 |
Total property and equipment, net | $ | 181,529 |  |  | $ | 108,398 |
(1) As of December 31, 2022 and 2021, property and equipment, net in the Netherlands represented approximately 15% and 20%, respectively, of consolidated property and equipment, net, comprised primarily of property and equipment related to the distribution center in Dordrecht and the warehouses in Rotterdam and Oudenbosch. No other individual international country represented 10% or more of consolidated property and equipment, net in any of the years presented.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration