XML 52 R30.htm IDEA: XBRL DOCUMENT v3.19.3
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Impact of Adoption of New Revenue Standard
The following table summarizes the cumulative transition adjustments for the adoption of the new revenue standard recorded on the October 1, 2018 consolidated balance sheet to reflect the aggregate impact to all contracts not completed as of October 1, 2018:
 
Fiscal Year 2018 Closing Balance Sheet
 
Cumulative Transition Adjustment for New Revenue Standard
 
Fiscal Year 2019 Opening Balance Sheet
 
(in millions)
Assets
 
Current portion of client incentives
$
340

 
$
199

 
$
539

Client incentives
538

 
614

 
1,152

Liabilities
 
 
 
 
 
Client incentives
2,834

 
241

 
3,075

Accrued liabilities
1,160

 
6

 
1,166

Deferred tax liabilities
4,618

 
108

 
4,726

Other liabilities
2,666

 
58

 
2,724

Equity
 
 
 
 
 
Accumulated income
11,318

 
400

 
11,718


The following tables summarize the impact of the new revenue standard on the Company’s consolidated statement of operations for the year ended September 30, 2019 and the consolidated balance sheet as of September 30, 2019:
 
For the Year Ended
September 30, 2019
 
As Reported
 
Impact of the New Revenue Standard
 
Results Under Prior Revenue Standard
 
(in millions)
Net revenues
$
22,977

 
$
(352
)
 
$
22,625

 
 
 
 
 
 
Operating expenses
 
 
 
 
 
Marketing
1,105

 
(128
)
 
977

Professional fees
454

 
(19
)
 
435

General and administrative
1,196

 
(33
)
 
1,163

Total operating expenses
7,976

 
(180
)
 
7,796

Operating income
15,001

 
(172
)
 
14,829

 
 
 
 
 
 
Income before income taxes
14,884

 
(172
)
 
14,712

Income tax provision
2,804

 
(34
)
 
2,770

Net income
12,080

 
(138
)
 
11,942

 
September 30, 2019
 
As Reported
 
Impact of the New Revenue Standard
 
Results Under Prior Revenue Standard
 
(in millions)
Assets
 
 
 
 
 
Current portion of client incentives
$
741

 
$
(306
)
 
$
435

Client incentives
2,084

 
(1,024
)
 
1,060

Liabilities
 
 
 
 
 
Accounts payable
156

 
28

 
184

Client incentives
3,997

 
(498
)
 
3,499

Accrued liabilities
1,625

 
(54
)
 
1,571

Deferred tax liabilities
4,807

 
(141
)
 
4,666

Other liabilities
2,939

 
(127
)
 
2,812

Equity
 
 
 
 
 
Accumulated income
13,502

 
(538
)
 
12,964