RAI » Topics » Revenue Recognition

These excerpts taken from the RAI 10-K filed Feb 23, 2009.
Revenue Recognition
 
Revenue from product sales is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the seller’s price to the buyer is fixed or determinable, and collectibility is reasonably assured. For RAI’s operating subsidiaries, these criteria are generally met when title and risk of loss pass to the customer. Certain sales of leaf, considered as bill-and-hold for accounting purposes, are recorded as deferred revenue when all of the above revenue recognition criteria are met except delivery, postponed at the customer’s request. Revenue is subsequently recognized upon delivery. Shipping and handling costs are classified as cost of products sold. Net sales include certain sales incentives, including coupons, buydowns and slotting allowances.
 
Revenue
Recognition



 



Revenue from product sales is recognized when persuasive
evidence of an arrangement exists, delivery has occurred, the
seller’s price to the buyer is fixed or determinable, and
collectibility is reasonably assured. For RAI’s operating
subsidiaries, these criteria are generally met when title and
risk of loss pass to the customer. Certain sales of leaf,
considered as
bill-and-hold
for accounting purposes, are recorded as deferred revenue when
all of the above revenue recognition criteria are met except
delivery, postponed at the customer’s request. Revenue is
subsequently recognized upon delivery. Shipping and handling
costs are classified as cost of products sold. Net sales include
certain sales incentives, including coupons, buydowns and
slotting allowances.


 




These excerpts taken from the RAI 10-K filed Feb 27, 2008.
Revenue Recognition
 
Revenue from product sales is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the seller’s price to the buyer is fixed or determinable, and collectibility is reasonably assured. For RAI’s operating subsidiaries, these criteria are generally met when title and risk of loss pass to the customer. Certain sales of leaf, considered as bill-and-hold for accounting purposes, are recorded as deferred revenue when all of the above revenue recognition criteria are met except delivery, postponed by the customer’s request. Revenue is subsequently recognized upon delivery. Shipping and handling costs are classified as cost of products sold. Certain sales incentives, including coupons, buydowns and slotting allowances, are classified as reductions of net sales.
 
Revenue
Recognition



 



Revenue from product sales is recognized when persuasive
evidence of an arrangement exists, delivery has occurred, the
seller’s price to the buyer is fixed or determinable, and
collectibility is reasonably assured. For RAI’s operating
subsidiaries, these criteria are generally met when title and
risk of loss pass to the customer. Certain sales of leaf,
considered as
bill-and-hold
for accounting purposes, are recorded as deferred revenue when
all of the above revenue recognition criteria are met except
delivery, postponed by the customer’s request. Revenue is
subsequently recognized upon delivery. Shipping and handling
costs are classified as cost of products sold. Certain sales
incentives, including coupons, buydowns and slotting allowances,
are classified as reductions of net sales.


 




This excerpt taken from the RAI 10-K filed Feb 27, 2007.
Revenue Recognition
 
Revenue from product sales is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the seller’s price to the buyer is fixed or determinable, and collectibility is reasonably assured. For RAI’s operating subsidiaries, these criteria are generally met when title and risk of loss pass to the customer. Certain sales of leaf, considered as bill-and-hold for accounting purposes, are recorded as deferred revenue when all of the above revenue recognition criteria are met except delivery, postponed by the customer’s request. Revenue is subsequently recognized upon delivery. Shipping and handling costs are classified as cost of products sold. Certain sales incentives, including coupons, buydowns and slotting allowances, are classified as reductions of net sales.
 
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