OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Information Related to Reportable Operating Segments

The following tables set forth information related to reportable operating segments:

	Three Months Ended March 31,
	2024		2023
	(in thousands)
Revenues:
Crocs Brand (1)	$	743,816	$	648,778
HEYDUDE Brand	194,817		235,388
Total consolidated revenues	$	938,633	$	884,166
Income from operations:
Crocs Brand (1)(2)	$	264,124	$	218,007
HEYDUDE Brand (2)	40,146		76,620
Reconciliation of total segment income from operations to income before income taxes:
Enterprise corporate (2)	(77,841)		(59,699)
Income from operations	226,429		234,928
Foreign currency losses, net	(2,273)		(403)
Interest income	416		171
Interest expense	(30,563)		(42,637)
Other income (expense), net	20		(293)
Income before income taxes	$	194,029	$	191,766
Depreciation and amortization:
Crocs Brand (1)	$	8,536	$	7,437
HEYDUDE Brand	4,216		3,506
Enterprise corporate	3,409		2,193
Total consolidated depreciation and amortization	$	16,161	$	13,136

(1) Our business has continued to evolve in the period following the consummation of the HEYDUDE acquisition, as we have grown the brand and staffed and developed our leadership team at HEYDUDE. In the fourth quarter of 2023, to reflect changes in the way management evaluates performance, makes operating decisions, and allocates resources, we updated our reportable operating segments to be (i) Crocs Brand and (ii) HEYDUDE Brand. Our ‘North America,’ ‘Asia Pacific,’ and ‘EMEALA’ segments as well as revenues and expenses related to Crocs ‘Brand corporate’ have been consolidated to the ‘Crocs Brand.’ As a result of these changes, the previously reported amounts for revenues, income from operations, and depreciation and amortization for the three months ended March 31, 2023 have been recast to conform to current period presentation.

(2) In the first quarter of 2024, to reflect a change in the way management evaluates segment performance, makes operating decisions, and allocates resources, we made changes to segment profitability related to certain foreign currency amounts impacting cost of sales. These amounts have shifted costs or benefits that were previously presented in each of our reportable segments to ‘Enterprise corporate.’ We believe that the impact of these changes on prior periods is insignificant to each segment and thus have not recast prior periods.