The following table provides a revenue analysis for Crocs Inc. from 2019 to 2020. In this table, Crocs reports their wholesale revenues recognized by each of its three reportable segments (and others). Revenues are presented both in dollar under U.S. GAAP and in constant currency. The constant currency percentage change from year to year are computed as the currency years constant dollar revenue divided by the previous year’s U.S. GAAP revenue.

Required:
a. What can you say about the trend in revenues for each reportable segment (Americas, Asia- Pacific, and EMEA [Europe, Middle East, and Africa])? Comment on the trend in exchange rates.
b. If companies are allowed to determine how they compute and how they report constant currency amounts, what is the value of constant currency reporting?

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Wholesale Americas Asia Pacific EMEA Other businesses Wholesale: Americas Asia Pacific EMEA Other businesses U.S. GAAP Revenue (dollars) 2021 $727,264 184,335 133,416 262,395 87 2020 2019 2018 $390,930 275,284 216,797 207,405 168,410 173,480 154,992 163 58 3,145 2021 727,521 179,178 253,289 87 Revenue Constant Currency (dollars) 2020 396,409 135,435 170,010 163 86.03% 203,110 38.17% 55.81% -46.63% Grow 2020 to 2021 2019 278,151 213,062 183,821 57 Grow 2020 to 2021 86% 34% 50% -47% U.S. GAAP Growth 2019 to 2020 42.01% -35.67% -2.92% 181.03% Growth 2018 to 2019 Constant currency Growth 2019 to 2020 44.0% -34.7% -2.0% 181.0% 26.98% 2.11% 11.93% -98.16% Growth 2018 to 2019 28.3% 4.9% 18.6% -98.2%