Crocs, Inc. Files 2023 Annual Report on Form 10-K

Ticker: CROX · Form: 10-K · Filed: Feb 15, 2024 · CIK: 1334036

Crocs, INC. 10-K Filing Summary
FieldDetail
CompanyCrocs, INC. (CROX)
Form Type10-K
Filed DateFeb 15, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: Crocs, 10-K, Annual Report, Financials, HEYDUDE

TL;DR

<b>Crocs, Inc. has filed its 2023 10-K report detailing financial performance and operational information for the fiscal year ending December 31, 2023.</b>

AI Summary

Crocs, Inc. (CROX) filed a Annual Report (10-K) with the SEC on February 15, 2024. Crocs, Inc. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points and balance sheet information as of December 31, 2023, are included. The company's principal business address is 500 Eldorado Boulevard, Building 5, Broomfield, CO 80021. The filing references the acquisition of HEYDUDE, with related data points from February 17, 2022.

Why It Matters

For investors and stakeholders tracking Crocs, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Crocs' financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's performance and future outlook. The inclusion of detailed financial statements, segment information (including HEYDUDE), and executive compensation data allows stakeholders to evaluate management's effectiveness and the company's strategic direction.

Risk Assessment

Risk Level: medium — Crocs, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. While it contains detailed financial and operational information, it does not present immediate, significant positive or negative news that would drastically alter the risk profile beyond the typical considerations for a public company in the footwear industry.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Crocs' performance and potential challenges in the upcoming fiscal year.

Key Numbers

Key Players & Entities

FAQ

When did Crocs, Inc. file this 10-K?

Crocs, Inc. filed this Annual Report (10-K) with the SEC on February 15, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Crocs, Inc. (CROX).

Where can I read the original 10-K filing from Crocs, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Crocs, Inc..

What are the key takeaways from Crocs, Inc.'s 10-K?

Crocs, Inc. filed this 10-K on February 15, 2024. Key takeaways: Crocs, Inc. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key financial data points and balance sheet information as of December 31, 2023, are included..

Is Crocs, Inc. a risky investment based on this filing?

Based on this 10-K, Crocs, Inc. presents a moderate-risk profile. The filing is a standard 10-K, which is a routine annual report. While it contains detailed financial and operational information, it does not present immediate, significant positive or negative news that would drastically alter the risk profile beyond the typical considerations for a public company in the footwear industry.

What should investors do after reading Crocs, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors within the 10-K to understand Crocs' performance and potential challenges in the upcoming fiscal year. The overall sentiment from this filing is neutral.

Key Dates

Filing Stats: 4,413 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-02-15 15:51:10

Key Financial Figures

Filing Documents

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 27 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 31 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 49 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 49 Item 9A.

Controls and Procedures

Controls and Procedures 49 Item 9B. Other Information 51 Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspection 51 PART III Item 10. Directors, Executive Officers and Corporate Governance 52 Item 11.

Executive Compensation

Executive Compensation 52 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 52 Item 13. Certain Relationships and Related Transactions and Director Independence 52 Item 14. Principal Accountant Fees and Services 53 PART IV Item 15. Exhibits, Financial Statement Schedule 54 Item 16. Form 10-K Summary 59

Signatures

Signatures 60 1 Table of Contents PART I

Business

ITEM 1. Business The Company Crocs, Inc. and our consolidated subsidiaries (collectively, the "Company," "we," "us," or "our") are engaged in the design, development, worldwide marketing, distribution, and sale of casual lifestyle footwear and accessories for all. We strive to be the world leader in innovative casual footwear, combining comfort and style with a value that consumers want. On February 17, 2022 (the "Acquisition Date"), we acquired (the "Acquisition") 100% of the equity of a privately-owned casual footwear brand business ("HEYDUDE"), pursuant to a securities purchase agreement entered into on December 22, 2021. HEYDUDE is engaged in the business of distributing and selling casual footwear under the brand name "HEYDUDE." The majority of HEYDUDE sales are currently in the United States. Our business has continued to evolve in the period following the consummation of the 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, which are discussed in more detail in "Business Segments and Geographic Information" below. Within the regions in which we operate, we prioritize six core markets for the Crocs Brand where we believe the greatest opportunities for growth exist: (i) China, (ii) India, (iii) Japan, (iv) South Korea, (v) the U.S., and (vi) Western Europe. Our Vision At the heart of our brands is our consumers. We have brands, with a broad democratic appeal and accessible price points, which are aligned with global megatrends such as casualization and personalization. The philosophy and vision for our brands has been an important driver of our results and, we believe, will continue to be important as we strive to realize the full potential of our brands. To that end,

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing