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Analysis of Revenues

Difficulty: Advanced


Revenue Recognition Accounting Policy

Wholesale revenues are recognized when title and the risks and rewards of ownership have passed to the customer, based on the terms of sale. This occurs upon shipment or upon receipt by the customer depending on the country of the sale and the agreement with the customer. Retail store revenues are recorded at the time of sale and digital commerce revenues are recorded upon delivery to the customer. Amounts collected from customers for sales or value added tax are recorded on a net basis. Provisions for post-invoice sales discounts, returns and miscellaneous claims from customers are estimated and recorded as a reduction to revenue at the time of sale. Post-invoice sales discounts consist of contractual programs with certain customers or discretionary discounts expected to be granted to certain customers at a later date. Estimates of discretionary discounts, returns and claims are based on (1) historical rates, (2) specific identification of outstanding claims and outstanding returns not yet received from customers and (3) estimated discounts, returns and claims expected, but not yet finalized with customers. As of May 31, 2018 and 2017, NIKE's reserve balances for post-invoice sales discounts, returns and miscellaneous claims were $675 million and $643 million, respectively.

Source: Nike Inc., Annual Report


Revenues as Reported

Nike Inc., Income Statement, Revenues

USD $ in millions

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12 months ended May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
Footwear hidden hidden hidden hidden hidden hidden
Apparel hidden hidden hidden hidden hidden hidden
Equipment hidden hidden hidden hidden hidden hidden
Other hidden hidden hidden hidden hidden hidden
Revenues by major product lines hidden hidden hidden hidden hidden hidden

Source: Nike Inc. Annual Reports

Item Description The company