Revenue Recognition Accounting Policy
The consumer products businesses recognize revenues, net of sales incentives and sales returns, and including shipping and handling charges billed to customers, upon shipment or delivery of goods when title and risk of loss pass to customers. Payments received in advance of revenue recognition are deferred and recorded in other accrued liabilities until revenue is recognized. Altria Group, Inc.'s consumer products businesses also include excise taxes billed to customers in net revenues. Shipping and handling costs are classified as part of cost of sales.
Source: Altria Group Inc., Annual Report
Revenues as Reported
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Altria Group Inc., Income Statement, Revenues
Source: Altria Group Inc. Annual Reports
| Item |
Description |
The company |
| Net revenues |
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. |
Altria Group Inc.'s net revenues increased from 2009 to 2010 but then slightly declined from 2010 to 2011 not reaching 2009 level.
|
