XML 31 R21.htm IDEA: XBRL DOCUMENT v3.25.3
OPERATING SEGMENTS
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
We have two reportable operating segments: the Crocs Brand and the HEYDUDE Brand. Each of the reportable operating segments derives its revenues from the sale of footwear and accessories to external customers.

Additionally, ‘Enterprise corporate’ costs include global corporate costs associated with both brands, including legal, information technology, human resources, and finance.

Each segment’s performance is evaluated based on segment results without allocating Enterprise corporate expenses. Reconciling items between segment income from operations and income from operations consist of unallocated Enterprise corporate expenses. Our chief operating decision maker is Andrew Rees, Chief Executive Officer. Mr. Rees uses income from operations as a measure of profit or loss. Mr. Rees considers the performance of these measures against management expectations when making decisions about the allocation of operating and capital resources to each segment.

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:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(in thousands)
Crocs Brand:
Revenues
$836,229 $858,098 $2,557,427 $2,515,903 
Cost of sales
319,342 321,781 963,234 960,946 
Selling, general and administrative expenses244,168 223,053 689,475 622,036 
Income from operations
272,719 313,264 904,718 932,921 
HEYDUDE Brand:
Revenues
160,072 204,102 525,580 596,432 
Cost of sales
92,402 106,379 280,673 311,801 
Selling, general and administrative expenses60,920 71,532 183,859 170,486 
Asset impairments
— — 737,000 5,441 
Income (loss) from operations
6,750 26,191 (675,952)108,704 
Total segment income (loss) from operations
$279,469 $339,455 $228,766 $1,041,625 
Reconciliation of segment income (loss) from operations to income (loss) before income taxes:
  
Enterprise corporate costs$(71,809)$(69,626)$(225,648)$(219,629)
Foreign currency gains (losses), net2,957 (332)8,264 (3,928)
Interest income531 1,366 1,235 2,908 
Interest expense(21,711)(26,203)(67,000)(85,927)
Other income (expense), net(9)237 143 302 
Income (loss) before income taxes
$189,428 $244,897 $(54,240)$735,351 
Depreciation and amortization: (1)
Crocs Brand
$10,269 $9,066 $29,274 $26,463 
HEYDUDE Brand6,108 5,032 17,299 13,790 
Enterprise corporate 3,949 4,087 11,764 11,637 
Total consolidated depreciation and amortization
$20,326 $18,185 $58,337 $51,890 
(1) The amounts of depreciation and amortization disclosed by reportable segment and ‘Enterprise corporate’ are included within ‘Cost of sales’ and ‘Selling, general and administrative expenses.’