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OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION | OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION We have four reportable operating segments. For the Crocs Brand, we have three reportable operating segments based on the geographic nature of our operations: North America, Asia Pacific, and Europe, Middle East, Africa, and Latin America (“EMEALA”). Our HEYDUDE Brand also became a reportable segment on the Acquisition Date. Each of the reportable operating segments derives its revenues from the sale of footwear and accessories to external customers. Additionally, Crocs ‘Brand corporate’ costs represent operating expense that includes product creation, design, and marketing expenses centrally managed for the Crocs Brand, as well as certain royalty income. Crocs Brand corporate costs are included within the Crocs Brand for presentation purposes to align with the way management views the Company. ‘Enterprise corporate’ costs include global corporate costs associated with both brands, including legal, information technology, human resources, and finance, as well as costs associated with global digital operations. Each segment’s performance is evaluated based on segment results without allocating Brand corporate or Enterprise corporate expenses. Segment profits or losses include adjustments to eliminate inter-segment sales. Reconciling items between segment income from operations and income from operations consist of unallocated brand and enterprise corporate and other expenses, as well as inter-segment eliminations. We do not report asset information by segment because that information is not used to evaluate performance or allocate resources between 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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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