DowDuPont Inc. (DWDP)

Effective with the January 1, 2018 adoption of ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," and the associated ASUs (collectively, "Topic 606"), DowDuPont recognizes revenue when its customer obtains control of promised goods or services in an amount that reflects the consideration which DowDuPont expects to receive in exchange for those goods or services. To determine revenue recognition for the arrangements that DowDuPont determines are within the scope of Topic 606, DowDuPont performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

Revenue related to DowDuPont’s insurance operations includes third-party insurance premiums, which are earned over the terms of the related insurance policies and reinsurance contracts.

In periods prior to the adoption of Topic 606, DowDuPont’s accounting policy was to recognize revenue when it was realized or realizable, and the earnings process was complete. Revenue for product sales was recognized as risk and title to the product transferred to the customer, which usually occurred at the time shipment was made. As such, title to the product passed when the product was delivered to the freight carrier. DowDuPont’s standard terms of delivery were included in its contracts of sale, order confirmation documents and invoices. Revenue related to the initial licensing of patent and technology was recognized when earned; revenue related to running royalties was recognized according to licensee production levels.

Source: 10-K (filing date: 2019-02-11).

DowDuPont Inc., Income Statement, Revenues

USD $ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Agriculture
	Performance Materials & Coatings
	Industrial Intermediates & Infrastructure
	Packaging & Specialty Plastics
	Electronics & Imaging
	Nutrition & Biosciences
	Transportation & Advanced Polymers
	Safety & Construction
	Corporate
	Net trade revenue

Based on: 10-K (filing date: 2019-02-11), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).