MyLogIQ study reveals, ASU 2014-09 Revenue Recognition standard is still being evaluated in 63% of the S&P 500 companies, while nearly 7% disclosed they will have an impact, nearly 29% disclosed they will have no impact, and less than 1% have not mentioned the ASU. The 10-K and 10-Q filings for the last 180 days as of May 17, 2017 were analyzed in this study.
MyLogIQ researched the impact classifications of Financial Accounting Standard Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) on the S&P 500 companies.
Summary:
Analyzing the S&P 500 companies, we classified them as follows:
Companies which disclosed revenue recognition to have No Impact: 147
Companies which disclosed revenue recognition evaluation in process: 314
Companies who have disclosed an Impact: 35
Companies which disclosed revenue recognition to have a Material Impact: 2
Companies which disclosed revenue recognition to have a Timing Impact: 23
Companies which disclosed revenue recognition to have a both Timing and Material Impact: 7
Companies which have an Impact but it is ambiguous: 3
Companies with no specific disclosure of ASU 2014-09: 4
For a detailed disclosure report with the disclosure language on companies who have stated an impact, please email info@mylogiq.com.
Companies who have as of May 17th will have a material impact on their revenue recognition (ASU 2014-09) are shown below, along with ASU adoption date.
The two (2) companies with material impact are:
Companies who have as of May 17th stated clearly that the policy ASU 2014-09, will have a timing impact on their revenue recognition are shown below, along with ASU adoption date.
The twenty-three (23) companies are:
Companies who have as of May 17th stated clearly that the policy ASU 2014-09, as currently written, will have a material and timing impact on their revenue recognition are shown below, along with ASU adoption date.
The seven (7) companies are:
Companies who have as of May 17th stated that the policy ASU 2014-09, as currently written, will have some impact on their revenue recognition, but have been ambiguous, are shown below, along with ASU adoption date.
The three (3) companies are:
All companies who have stated an impact are shown below, along with disclosure language directly from their SEC filings.
Companies who have as of May 17th stated clearly that the policy ASU 2014-09, as currently written, will have an immaterial impact on their revenue recognition are shown below. These companies may continue to evaluate any possible impacts.
The one hundred and forty-seven (147) companies are:
ABBOTT LABORATORIES
ACCENTURE PLC
ACTIVISION BLIZZARD, INC.
ADVANCE AUTO PARTS INC
AETNA INC /PA/
AFLAC INC
ALEXION PHARMACEUTICALS INC
ALLEGION PLC
ALPHABET INC.
ALTRIA GROUP, INC.
AMERICAN ELECTRIC POWER CO INC
AMERIPRISE FINANCIAL INC
AMGEN INC
ANADARKO PETROLEUM CORP
APACHE CORP
APPLE INC
AUTODESK INC
BALL CORP
BANK OF AMERICA CORP /DE/
BAXTER INTERNATIONAL INC
BED BATH & BEYOND INC
C H ROBINSON WORLDWIDE INC
CAPITAL ONE FINANCIAL CORP
CARMAX INC
CBOE HOLDINGS, INC.
CELGENE CORP /DE/
CENTENE CORP
CHIPOTLE MEXICAN GRILL INC
CHUBB LTD
CHURCH & DWIGHT CO INC /DE/
CIGNA CORP
CIMAREX ENERGY CO
CINCINNATI FINANCIAL CORP
CITIGROUP INC
CITIZENS FINANCIAL GROUP INC/RI
COLGATE PALMOLIVE CO
COMERICA INC /NEW/
CONCHO RESOURCES INC
CONOCOPHILLIPS
CONSTELLATION BRANDS, INC.
CROWN CASTLE INTERNATIONAL CORP
CSX CORP
DEVON ENERGY CORP/DE
DIGITAL REALTY TRUST, INC.
DISCOVER FINANCIAL SERVICES
DOLLAR TREE INC
E TRADE FINANCIAL CORP
EASTMAN CHEMICAL CO
EDISON INTERNATIONAL
EMERSON ELECTRIC CO
EQT CORP
ESSEX PROPERTY TRUST INC
EXELON CORP
EXPEDITORS INTERNATIONAL OF WASHINGTON INC
EXTRA SPACE STORAGE INC.
FASTENAL CO
FEDEX CORP
FIFTH THIRD BANCORP
FISERV INC
FORD MOTOR CO
FREEPORT-MCMORAN INC
GARTNER INC
GENERAL MILLS INC
GILEAD SCIENCES INC
GOLDMAN SACHS GROUP INC
HALLIBURTON CO
HARTFORD FINANCIAL SERVICES GROUP INC/DE
HASBRO INC
HERSHEY CO
HONEYWELL INTERNATIONAL INC
HOST HOTELS & RESORTS, INC.
HUNT J B TRANSPORT SERVICES INC
ILLINOIS TOOL WORKS INC
INGERSOLL-RAND PLC
J M SMUCKER CO
JPMORGAN CHASE & CO
KANSAS CITY SOUTHERN
KELLOGG CO
KIMBERLY CLARK CORP
KIMCO REALTY CORP
LOEWS CORP
LYONDELLBASELL INDUSTRIES N.V.
MACERICH CO
MARTIN MARIETTA MATERIALS INC
MASCO CORP /DE/
METLIFE INC
MONDELEZ INTERNATIONAL, INC.
MURPHY OIL CORP /DE
NAVIENT CORP
NETFLIX INC
NEWMONT MINING CORP /DE/
NOBLE ENERGY INC
NORTHERN TRUST CORP
NORTHROP GRUMMAN CORP /DE/
NUCOR CORP
ORACLE CORP
PACCAR INC
PAYCHEX INC
PAYPAL HOLDINGS, INC.
PEOPLE’S UNITED FINANCIAL, INC.
PEPSICO INC
PFIZER INC
PHILIP MORRIS INTERNATIONAL INC.
PIONEER NATURAL RESOURCES CO
PNC FINANCIAL SERVICES GROUP, INC.
PPL CORP
PRICE T ROWE GROUP INC
PROCTER & GAMBLE CO
PRUDENTIAL FINANCIAL INC
PUBLIC STORAGE
QUALCOMM INC/DE
QUEST DIAGNOSTICS INC
RAYTHEON CO/
REALTY INCOME CORP
REGENERON PHARMACEUTICALS INC
REGIONS FINANCIAL CORP
REYNOLDS AMERICAN INC
ROSS STORES INC
SCHLUMBERGER LIMITED/NV
SEMPRA ENERGY
SIMON PROPERTY GROUP INC /DE/
SNAP-ON INC
STATE STREET CORP
TARGET CORP
TE CONNECTIVITY LTD.
TESORO CORP /NEW/
TEXAS INSTRUMENTS INC
THERMO FISHER SCIENTIFIC INC.
TIME WARNER INC.
TRACTOR SUPPLY CO /DE/
TRAVELERS COMPANIES, INC.
TYSON FOODS INC
UDR, INC.
UNION PACIFIC CORP
UNITEDHEALTH GROUP INC
UNUM GROUP
US BANCORP /DE/
V F CORP
VALERO ENERGY CORP/TX
VERISIGN INC/CA
WAL MART STORES INC
WASTE MANAGEMENT INC
WESTERN UNION CO
WEYERHAEUSER CO
XEROX CORP
YUM BRANDS INC
ZOETIS INC.
The following companies have stated in their SEC filings that they are evaluating the impact of applying ASU 2014-09, if any, to their revenue recognition. These companies might have stated that the impact will be material or not for part of their business, but have not stated end results of their evaluations.
The three hundred and fourteen (314) companies are:
ABBVIE INC.
ACUITY BRANDS INC
AES CORP
AFFILIATED MANAGERS GROUP, INC.
AGILENT TECHNOLOGIES INC
AIR PRODUCTS & CHEMICALS INC /DE/
ALASKA AIR GROUP, INC.
ALBEMARLE CORP
ALEXANDRIA REAL ESTATE EQUITIES INC
ALLERGAN PLC
ALLIANCE DATA SYSTEMS CORP
ALLIANT ENERGY CORP
ALLSTATE CORP
AMAZON COM INC
AMEREN CORP
AMERICAN AIRLINES GROUP INC.
AMERICAN EXPRESS CO
AMERICAN INTERNATIONAL GROUP INC
AMERICAN TOWER CORP /MA/
AMERICAN WATER WORKS COMPANY, INC.
AMERISOURCEBERGEN CORP
AMETEK INC/
AMPHENOL CORP /DE/
AMSURG CORP
ANTHEM, INC.
AON PLC
APARTMENT INVESTMENT & MANAGEMENT CO
APPLIED MATERIALS INC /DE
ARCHER DANIELS MIDLAND CO
ARCONIC INC.
ASSURANT INC
AT&T INC.
AUTOMATIC DATA PROCESSING INC
AUTONATION, INC.
AUTOZONE INC
AVALONBAY COMMUNITIES INC
AVERY DENNISON CORP
BAKER HUGHES INC
BANK OF NEW YORK MELLON CORP
BB&T CORP
BECTON DICKINSON & CO
BERKSHIRE HATHAWAY INC
BIOGEN INC.
BLACKROCK INC.
BORGWARNER INC
BOSTON PROPERTIES INC
BOSTON SCIENTIFIC CORP
BROADCOM LTD
BROWN FORMAN CORP
CABOT OIL & GAS CORP
CAMPBELL SOUP CO
CARDINAL HEALTH INC
CARNIVAL CORP
CATERPILLAR INC
CBRE GROUP, INC.
CBS CORP
CENTERPOINT ENERGY INC
CENTURYLINK, INC
CERNER CORP /MO/
CF INDUSTRIES HOLDINGS, INC.
CHARTER COMMUNICATIONS, INC. /MO/
CHESAPEAKE ENERGY CORP
CHEVRON CORP
CINTAS CORP
CISCO SYSTEMS, INC.
CITRIX SYSTEMS INC
CLOROX CO /DE/
CME GROUP INC.
CMS ENERGY CORP
COACH INC
COGNIZANT TECHNOLOGY SOLUTIONS CORP
CONAGRA BRANDS INC.
CONSOLIDATED EDISON INC
COOPER COMPANIES INC
CORNING INC /NY
COSTCO WHOLESALE CORP /NEW
COTY INC.
CSRA INC.
CUMMINS INC
CVS HEALTH CORP
DANAHER CORP /DE/
DARDEN RESTAURANTS INC
DAVITA INC.
DEERE & CO
DELPHI AUTOMOTIVE PLC
DELTA AIR LINES INC /DE/
DISCOVERY COMMUNICATIONS, INC.
DISH NETWORK CORP
DOMINION RESOURCES INC /VA/
DOVER CORP
DOW CHEMICAL CO /DE/
DTE ENERGY CO
DUKE ENERGY CORP
DUPONT E I DE NEMOURS & CO
EATON CORP PLC
EBAY INC
ECOLAB INC
EDWARDS LIFESCIENCES CORP
ELECTRONIC ARTS INC.
EOG RESOURCES INC
EQUIFAX INC
EQUINIX INC
EQUITY RESIDENTIAL
ESTEE LAUDER COMPANIES INC
EVERSOURCE ENERGY
EXPEDIA, INC.
EXPRESS SCRIPTS HOLDING CO.
EXXON MOBIL CORP
F5 NETWORKS INC
FACEBOOK INC
FEDERAL REALTY INVESTMENT TRUST
FIDELITY NATIONAL INFORMATION SERVICES, INC.
FIRSTENERGY CORP
FLIR SYSTEMS INC
FLOWSERVE CORP
FLUOR CORP
FMC CORP
FMC TECHNOLOGIES INC
FOOT LOCKER INC
FORTIVE CORP
FORTUNE BRANDS HOME & SECURITY, INC.
FRANKLIN RESOURCES INC
GALLAGHER ARTHUR J & CO
GAP INC
GARMIN LTD
GENERAL ELECTRIC CO
GENUINE PARTS CO
GGP INC.
GOODYEAR TIRE & RUBBER CO /OH/
GRAINGER W W INC
H&R BLOCK INC
HALF ROBERT INTERNATIONAL INC /DE/
HANESBRANDS INC.
HARLEY DAVIDSON INC
HARRIS CORP /DE/
HCA HEALTHCARE, INC.
HCP, INC.
HELMERICH & PAYNE INC
HENRY SCHEIN INC
HESS CORP
HEWLETT PACKARD ENTERPRISE CO
HOLOGIC INC
HOME DEPOT INC
HORMEL FOODS CORP /DE/
HORTON D R INC /DE/
HP INC
HUMANA INC
HUNTINGTON BANCSHARES INC/MD
IDEXX LABORATORIES INC /DE
ILLUMINA INC
INTEL CORP
INTERCONTINENTAL EXCHANGE, INC.
INTERNATIONAL FLAVORS & FRAGRANCES INC
INTERNATIONAL PAPER CO /NEW/
INTERPUBLIC GROUP OF COMPANIES, INC.
INTUIT INC
INTUITIVE SURGICAL INC
INVESCO LTD.
JACOBS ENGINEERING GROUP INC /DE/
JOHNSON & JOHNSON
JOHNSON CONTROLS INTERNATIONAL PLC
KEYCORP /NEW/
KINDER MORGAN, INC.
KLA TENCOR CORP
KOHLS CORP
KRAFT HEINZ CO
KROGER CO
L 3 COMMUNICATIONS HOLDINGS INC
L BRANDS, INC.
LABORATORY CORP OF AMERICA HOLDINGS
LAM RESEARCH CORP
LEGGETT & PLATT INC
LENNAR CORP /NEW/
LEUCADIA NATIONAL CORP
LEVEL 3 COMMUNICATIONS INC
LILLY ELI & CO
LINCOLN NATIONAL CORP
LKQ CORP
LOCKHEED MARTIN CORP
LOWES COMPANIES INC
M&T BANK CORP
MALLINCKRODT PLC
MARATHON OIL CORP
MARATHON PETROLEUM CORP
MARRIOTT INTERNATIONAL INC /MD/
MARSH & MCLENNAN COMPANIES, INC.
MASTERCARD INC
MATTEL INC /DE/
MCCORMICK & CO INC
MCDONALDS CORP
MCKESSON CORP
MEAD JOHNSON NUTRITION CO
MEDTRONIC PLC
MERCK & CO. INC.
MICHAEL KORS HOLDINGS LTD
MICROCHIP TECHNOLOGY INC
MICRON TECHNOLOGY INC
MID AMERICA APARTMENT COMMUNITIES INC
MOHAWK INDUSTRIES INC
MOLSON COORS BREWING CO
MONSTER BEVERAGE CORP
MOODYS CORP /DE/
MORGAN STANLEY
MOSAIC CO
MOTOROLA SOLUTIONS, INC.
MYLAN N.V.
NATIONAL OILWELL VARCO INC
NETAPP, INC.
NEWELL BRANDS INC
NEWFIELD EXPLORATION CO /DE/
NEWS CORP
NEXTERA ENERGY INC
NIELSEN HOLDINGS PLC
NIKE INC
NISOURCE INC/DE
NORDSTROM INC
NORFOLK SOUTHERN CORP
NRG ENERGY, INC.
NVIDIA CORP
O REILLY AUTOMOTIVE INC
OCCIDENTAL PETROLEUM CORP /DE/
OMNICOM GROUP INC.
ONEOK INC /NEW/
PARKER HANNIFIN CORP
PATTERSON COMPANIES, INC.
PENTAIR PLC
PERKINELMER INC
PERRIGO CO PLC
PG&E CORP
PHILLIPS 66
PINNACLE WEST CAPITAL CORP
PPG INDUSTRIES INC
PRAXAIR INC
PRINCIPAL FINANCIAL GROUP INC
PROGRESSIVE CORP/OH/
PROLOGIS, INC.
PUBLIC SERVICE ENTERPRISE GROUP INC
PULTEGROUP INC/MI/
PVH CORP. /DE/
QORVO, INC.
QUANTA SERVICES INC
RALPH LAUREN CORP
RANGE RESOURCES CORP
RAYMOND JAMES FINANCIAL INC
RED HAT INC
REGENCY CENTERS CORP
REPUBLIC SERVICES, INC.
ROCKWELL AUTOMATION INC
ROCKWELL COLLINS INC
ROPER TECHNOLOGIES INC
ROYAL CARIBBEAN CRUISES LTD
RYDER SYSTEM INC
S&P GLOBAL INC.
SALESFORCE COM INC
SCANA CORP
SCHWAB CHARLES CORP
SCRIPPS NETWORKS INTERACTIVE, INC.
SEAGATE TECHNOLOGY PLC
SEALED AIR CORP/DE
SHERWIN WILLIAMS CO
SIGNET JEWELERS LTD
SKYWORKS SOLUTIONS, INC.
SL GREEN REALTY CORP
SOUTHERN CO
SOUTHWESTERN ENERGY CO
STAPLES INC
STARBUCKS CORP
STERICYCLE INC
SUNTRUST BANKS INC
SYMANTEC CORP
SYNCHRONY FINANCIAL
SYNOPSYS INC
SYSCO CORP
TEGNA INC
TERADATA CORP /DE/
TEXTRON INC
TIFFANY & CO
TJX COMPANIES INC /DE/
TRANSDIGM GROUP INC
TRANSOCEAN LTD.
TRIPADVISOR, INC.
ULTA BEAUTY, INC.
UNDER ARMOUR, INC.
UNITED CONTINENTAL HOLDINGS, INC.
UNITED PARCEL SERVICE INC
UNITED RENTALS INC /DE
UNIVERSAL HEALTH SERVICES INC
VARIAN MEDICAL SYSTEMS INC
VENTAS INC
VERISK ANALYTICS, INC.
VERIZON COMMUNICATIONS INC
VERTEX PHARMACEUTICALS INC / MA
VIACOM INC.
VISA INC.
VORNADO REALTY TRUST
VULCAN MATERIALS CO
WALGREENS BOOTS ALLIANCE, INC.
WALT DISNEY CO/
WATERS CORP /DE/
WEC ENERGY GROUP, INC.
WELLS FARGO & COMPANY/MN
WELLTOWER INC.
WESTROCK CO
WHIRLPOOL CORP /DE/
WHOLE FOODS MARKET INC
WILLIAMS COMPANIES INC
WILLIS TOWERS WATSON PLC
WYNN RESORTS LTD
XCEL ENERGY INC
XILINX INC
XYLEM INC.
YAHOO INC
ZIMMER BIOMET HOLDINGS, INC.
ZIONS BANCORPORATION /UT/
The following companies have not addressed ASU 2014-09 in the last 180 days. These companies did not mention “ASU 2014-09,” “Accounting Guidance Update,” “Accounting Pronouncements,” or any other disclosure addressing the ASU in their filings.
ENTERGY CORP /DE/
TORCHMARK CORP
TWENTY-FIRST CENTURY FOX, INC.
XL GROUP LTD
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