Organization & Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

Organization & Summary Of Significant Accounting Policies [Abstract]

Organization & Summary Of Significant Accounting Policies

CROCS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. ORGANIZATION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

Crocs, Inc. and its subsidiaries (collectively the “Company,” “Crocs,” “we,” “our” or “us”) are engaged in the design, development, manufacturing, marketing, and distribution of footwear and accessories for men, women, and children.

Basis of Presentation

The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries.

In April 2011, Crocs and an unrelated third party formed Crocs Gulf, LLC (“Crocs Gulf”) for the purpose of selling the Company’s products in the United Arab Emirates. Crocs has acquired all voting and dividend rights associated with Crocs Gulf and has therefore determined that Crocs Gulf is a wholly owned subsidiary. 

Noncontrolling Interests

As of December 31, 2015, all of the Company’s subsidiaries were, in substance, wholly owned.

Transactions with Affiliates

The Company receives inventory count services from RGIS, a wholly owned subsidiary of Blackstone which currently owns all of the outstanding shares of Company’s Series A convertible preferred stock (“Series A preferred stock”), which is convertible into approximately 15.9% of the Company’s common stock. Crocs paid a total of $0.5 million to RGIS for services received during 2015.