HSY » Topics » Revenue Recognition

This excerpt taken from the HSY 10-K filed Feb 19, 2010.

Revenue Recognition

We record sales when all of the following criteria have been met:

 

   

A valid customer order with a fixed price has been received;

 

   

The product has been delivered to the customer;

 

   

There is no further significant obligation to assist in the resale of the product; and

 

   

Collectability is reasonably assured.

Net sales include revenue from the sale of finished goods and royalty income, net of allowances for trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features, merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

These excerpts taken from the HSY 10-K filed Feb 20, 2009.

Revenue Recognition

We record sales when all of the following criteria have been met:

 

   

a valid customer order with a fixed price has been received;

 

   

the product has been delivered to the customer;

 

   

there is no further significant obligation to assist in the resale of the product; and

 

   

collectibility is reasonably assured.

 

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THE HERSHEY COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Net sales include revenue from the sale of finished goods and royalty income, net of allowances for trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features, merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

Our operations are impacted by consumer spending levels and impulse purchases which are affected by general macroeconomic conditions, consumer confidence, employment levels, availability of consumer credit and interest rates on that credit, consumer debt levels, energy costs and other factors over which the Company has little or no control. Continued volatility in food and energy costs, a sustained recession in the United States, rising unemployment, and continued declines in personal income could significantly affect the Company’s revenues and profitability in the future.

Revenue Recognition

SIZE="2">We record sales when all of the following criteria have been met:

 







  

a valid customer order with a fixed price has been received;

 







  

the product has been delivered to the customer;

 







  

there is no further significant obligation to assist in the resale of the product; and

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

collectibility is reasonably assured.

 


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THE HERSHEY COMPANY

ALIGN="center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


Net sales include revenue from the sale of finished goods and royalty income, net of allowances for
trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features,
merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

Our operations are impacted by consumer
spending levels and impulse purchases which are affected by general macroeconomic conditions, consumer confidence, employment levels, availability of consumer credit and interest rates on that credit, consumer debt levels, energy costs and other
factors over which the Company has little or no control. Continued volatility in food and energy costs, a sustained recession in the United States, rising unemployment, and continued declines in personal income could significantly affect the
Company’s revenues and profitability in the future.

This excerpt taken from the HSY 10-K filed Feb 19, 2008.

Revenue Recognition

We record sales when all of the following criteria have been met:

 

   

a valid customer order with a fixed price has been received;

 

   

a delivery appointment with the customer has been made;

 

   

the product has been delivered to the customer;

 

   

there is no further significant obligation to assist in the resale of the product; and

 

   

collectibility is reasonably assured.

Net sales include revenue from the sale of finished goods and royalty income, net of allowances for trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features, merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

60


Table of Contents

THE HERSHEY COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the HSY 10-K filed Feb 23, 2007.

Revenue Recognition

We record sales when all of the following criteria have been met:

 

   

a valid customer order with a fixed price has been received;

 

   

a delivery appointment with the customer has been made;

 

   

the product has been delivered to the customer in accordance with the delivery appointment;

 

   

there is no further significant obligation to assist in the resale of the product; and

 

   

collectibility is reasonably assured.

Net sales include revenue from the sale of finished goods and royalty income, net of allowances for trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features, merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

This excerpt taken from the HSY 10-K filed Mar 7, 2005.

Revenue Recognition

The Company records sales when all of the following criteria have been met: a valid customer order with a fixed price has been received; a delivery appointment with the customer has been made; the product has been shipped in accordance with the delivery appointment within the required lead time; there is no further significant obligation to assist in the resale of the product; and collectibility is reasonably assured. Net sales include revenue from the sale of finished goods and royalty income, net of allowances for trade promotions, consumer coupon programs and other sales incentives, and allowances and discounts associated with aged or potentially unsaleable products. Trade promotions and sales incentives primarily include reduced price features, merchandising displays, sales growth incentives, new item allowances and cooperative advertising.

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