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LEASES | 9 Months Ended
--- | ---
Sep. 30, 2025
Leases [Abstract] |
LEASES | LEASES Right-of-Use Assets and Operating Lease Liabilities Amounts reported in the condensed consolidated balance sheets were:
| September 30, 2025 |  | December 31, 2024
| (in thousands)
Assets: |  |  |
Right-of-use assets | $ | 343,100 |  |  | $ | 307,228 |
Liabilities: |  |  |
Current operating lease liabilities | $ | 84,331 |  |  | $ | 68,551 |
Long-term operating lease liabilities | 303,059 |  |  | 283,406 |
Total operating lease liabilities | $ | 387,390 |  |  | $ | 351,957 |
Lease Costs and Other Information Lease-related costs reported within ‘Cost of sales’ and ‘Selling, general and administrative expenses’ in our condensed consolidated statements of operations were:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in thousands)
Operating lease cost | $ | 26,876 |  |  | $ | 21,555 |  |  | $ | 76,614 |  |  | $ | 62,209 |
Short-term lease cost | 2,925 |  |  | 4,907 |  |  | 9,317 |  |  | 14,920 |
Variable lease cost | 14,812 |  |  | 15,450 |  |  | 36,295 |  |  | 38,757 |
Total lease costs | $ | 44,613 |  |  | $ | 41,912 |  |  | $ | 122,226 |  |  | $ | 115,886 |
The weighted average remaining lease term and discount rate related to our lease liabilities as of September 30, 2025, was 5.6 years and 6.6%, respectively. As of September 30, 2024, the weighted average remaining lease term and discount rate related to our lease liabilities was 6.4 years and 6.4%, respectively. During the nine months ended September 30, 2024, we impaired our right-of-use assets for our former HEYDUDE Brand warehouses in Las Vegas, Nevada, and our former Crocs Brand warehouse in Oudenbosch, the Netherlands, as described in Note 6 — Fair Value Measurements. Maturities The maturities of our operating lease liabilities were:
| As of September 30, 2025
| (in thousands)
2025 (remainder of year) | $ | 18,793 |
2026 | 103,969 |
2027 | 87,319 |
2028 | 69,588 |
2029 | 55,924 |
Thereafter | 131,667 |
Total future minimum lease payments | 467,260 |
Less: imputed interest | (79,870) |
Total operating lease liabilities | $ | 387,390 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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