v3.24.3
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of the Company's Outstanding Borrowings The carrying value and fair value of our borrowing instruments as of September 30, 2024 and December 31, 2023 were:
September 30, 2024December 31, 2023
Carrying ValueFair ValueCarrying ValueFair Value
(in thousands)
Term Loan B Facility$575,000 $578,234 $820,000 $824,100 
2029 Notes350,000 330,538 350,000 313,987 
2031 Notes350,000 318,343 350,000 296,742 
Revolving Facility190,000 190,000 190,000 190,000 
Schedule of Fair Value Measurements, Nonrecurring
The fair values of these assets are determined, as required, based on Level 3 measurements, including estimates of the amount and timing of future cash flows based upon historical experience, expected market conditions, and management’s plans. We recorded impairments within ‘Selling, general and administrative expenses’ in our condensed consolidated statements of income as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2024202320242023
(in thousands)
Information technology systems impairment (1)
$— $— $18,172 $— 
Right-of-use assets impairment (2)
— — 5,909 — 
Total asset impairments$— $— $24,081 $— 
(1) During the nine months ended September 30, 2024, we recognized an impairment charge for information technology systems related to the HEYDUDE integration of $17.4 million to prepaid assets and $0.8 million to intangible assets.
(2) During the nine months ended September 30, 2024, we recognized an impairment of $5.5 million for our former HEYDUDE Brand warehouses in Las Vegas, Nevada and $0.4 million for our former Crocs Brand warehouse in Oudenbosch, the Netherlands.