Intuit Inc. (INTU)

Intuit derives revenue from the sale of software subscriptions, hosted services, packaged software products, financial supplies, technical support plans, transaction fees, merchant services hardware, and multiple element arrangements that may include a combination of these items. Intuit recognizes revenue when all four revenue recognition criteria have been met: persuasive evidence of an arrangement exists, Intuit has delivered the product or performed the service, the fee is fixed or determinable, and collectibility is probable. Determining whether and when these criteria have been satisfied involves exercising judgment and using estimates and assumptions that can have a significant impact on the timing and amount of revenue that Intuit recognizes.

In some situations, Intuit receives advance payments from the customers. Intuit defers revenue associated with these advance payments and the relative fair value of undelivered elements under multiple element arrangements until Intuit ships the products or perform the services.

Intuit accounts for cash consideration (such as sales incentives) that Intuit gives to the customers or resellers as a reduction of revenue rather than as an operating expense unless Intuit receives a benefit that Intuit can identify and for which Intuit can reasonably estimate the fair value.

Source: 10-K (filing date: 2018-08-31).

Intuit Inc., Income Statement, Revenues

USD $ in millions

	12 months ended	Jul 31, 2018		Jul 31, 2017		Jul 31, 2016		Jul 31, 2015		Jul 31, 2014
	Small Business & Self-Employed
	Consumer
	Strategic Partner
	Net revenue

Based on: 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).