Adidas summary. Adidas AG Company Profile 2022-10-11

02 » Summary of Significant Accounting Policies

Adidas is a multinational corporation that designs and manufactures sports shoes, clothing and accessories. Retrieved 10 May 2017. Once Rudolf left his brother came up with the famous three stripes logo and changed the name to Adidas. The resulting currency gains and losses are recognized directly in profit or loss. Horst died nine years after gaining ownership, and in 1987, Adidas became a private company but remained in family possession until it was sold to investors. Retrieved 28 September 2017. If there is an impairment loss for a group of cash-generating units, first the carrying amount of any goodwill allocated to the group of cash-generating units is reduced.

What Is Adidas

Amortization is calculated on a straight-line basis over the estimated useful life, taking into account any potential residual value. Although such estimates are based on the best of our knowledge of current events and actions, actual results may ultimately differ from these estimates. Amounts for estimated returns related to revenues are accrued based on past experience of average return rates and average actual return periods by means of a refund liability. The financial effects of intercompany transactions as well as any unrealized gains and losses arising from intercompany business relations are eliminated in preparing the consolidated financial statements. The impairment test for goodwill is performed based on groups of cash-generating units, which represent the lowest level within the company at which goodwill is monitored for internal management purposes. With the winning of the World Cup 1954 in Bern by the German national team, the Adidas soccer shoes became world-famous.

adidas

Therefore, neither fair value adjustments of assets and liabilities nor gains or losses are recognized. Retrieved 6 August 2014. Chuck Taylor, All Star: The True Story of the Man behind the Most Famous Athletic Shoe in History. Adidas is headquartered in Herzogenaurach, Germany. Non-financial items measured at the recoverable amount primarily relate to impaired property, plant, and equipment being measured based on value in use or on fair value taking unobservable inputs e. IMPAIRMENT LOSSES ON NON-FINANCIAL ASSETS If facts and circumstances indicate that non-current assets e. What makes Adidas unique is its ability to constantly reinvent itself.

Adidas AG Company Profile

Adidas is a German multinational corporation that designs and manufactures sports clothing and accessories. This includes fixed payments including in-substance fixed payments , less any lease incentives receivable, variable lease payments based on an index or a rate, amounts expected to be payable by adidas under residual value guarantees, the exercise price of a purchase option if adidas is reasonably certain to exercise that option, and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. Other gains and losses are recognized in other comprehensive income and are never reclassified to profit or loss. Adidas has a wide range of products for a variety of different sports, including football, running, basketball, and cricket. See Note03 PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment are measured at amortized cost. The fair value of the liability component is determined by discounting the interest and principal payments of a comparable liability without conversion rights, applying risk-adjusted interest rates. The company also manufactures sportswear for casual wear.

Adidas

The Adidas share is one the most interesting new listings in the stock market in Germany. Retrieved 23 November 2020. This comprises all costs directly attributable to bringing the asset to the condition necessary for it to be capable of operating in the manner intended by Management less any accumulated depreciation and accumulated impairment losses. Retrieved 19 August 2017. Tax charges and credits attributable to exchange differences on those monetary items are also recognized in OCI. The company has a strong presence on social media, and its official Twitter account has over 16 million followers. It is one of the largest sportswear companies in the world, and its products are sold in over 200 countries.

A Brief History of Adidas

Furthermore worldwide the adidas group employs approximately 40,000 people and has grown to encompass a number of other brands such as Reebok, TaylorMade and Rockport. This election is made on an investment-by-investment basis. These are indexed using a general price index in accordance with IAS29 Financial Reporting in Hyperinflationary Economies. Irrespective of whether there is an impairment indication, intangible assets with an indefinite useful life and goodwill acquired in business combinations are tested annually on December31 for impairment. Retrieved 3 June 2016.

Adidas History

The company was founded in August 1949 and named after its founder Adolf Adi Dassler. Retrieved 8 March 2017. There is no subsequent measurement of the equity component. In the case that indicators for impairment are present at any point in time other than on December31, these assets are also tested for impairment at this point in time. Unternehmen Sport: Die Geschichte von adidas in German. The company distributes and sells products through own-branded stores, retail stores, wholesale stores, sporting goods chains, buying groups, department stores, lifestyle retail chains, e-tailers, and franchise stores.

A Brief History of Adidas

NCAA corruption scandal Adidas executive James Gatto was indicted in the Racial diversity controversy In June 2020, the head of global human resources at Adidas voluntarily stepped down after black employees raised concerns about her failure to address racism and discrimination in the workplace. Retrieved 11 November 2011. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. At the commencement date, adidas initially measures the lease liability at the present value of the lease payments that are not paid at that date. The Adidas Group consists of the brands Adidas, Reebok and Tailor-Made. Adi Dassler was born in 1900 in the small town of Herzogenaurach, in southern Germany.

Some of Adidas' major competitors are Adidas among competitors As of 2021, the brand adidas was the Key figures of Adidas Group Adidas Currently, This text provides general information. Acquisitions of additional investments in subsidiaries which are already controlled are recorded as equity transactions. The Dasslers both joined the Nazi Party prior to the war, and Adi supplied shoes to the Hitler Youth movement, and to German athletes at the 1936 Olympics. Retrieved 30 June 2020. Retrieved 30 May 2014. Retrieved 20 January 2020.