10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2014 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 13, 2015) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net Revenue | $ 9,473 | 8,346 | 7,391 |
| Operating Expenses | |||
| General and administrative | 3,184 | 2,649 | 2,429 |
| Advertising and marketing | 862 | 841 | 775 |
| Depreciation and amortization | 321 | 258 | 230 |
| Provision for litigation settlement | 0 | 95 | 20 |
| Total operating expenses | 4,367 | 3,843 | 3,454 |
| Operating income | 5,106 | 4,503 | 3,937 |
| Other Income (Expense) | |||
| Investment income | 28 | 38 | 37 |
| Interest expense | (48) | (14) | (20) |
| Other income (expense), net | (7) | (27) | (21) |
| Total other income (expense) | (27) | (3) | (4) |
| Income before income taxes | 5,079 | 4,500 | 3,933 |
| Income tax expense | 1,462 | 1,384 | 1,174 |
| Net Income | 3,617 | 3,116 | 2,759 |
| Basic Earnings per Share | 3.11 | 2.57 | 2.20 |
| Basic Weighted-Average Shares Outstanding | 1,165 | 1,211 | 1,253 |
| Diluted Earnings per Share | 3.10 | 2.56 | 2.19 |
| Diluted Weighted-Average Shares Outstanding | 1,169 | 1,215 [1] | 1,258 |
| [1] For the years presented, the calculation of diluted EPS excluded a minimal amount of anti-dilutive share-based payment awards. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2014 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 13, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net Income | $ 3,617 | 3,116 | 2,759 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (436) [1] | 113 | 63 |
| Defined benefit pension and postretirement plans | 4 | 13 | (8) |
| Income tax effect | (1) | (5) | 3 |
| Defined benefit pension and other postretirement plans, net of income tax effect | 3 | 8 | (5) |
| Investment securities available-for-sale | (5) | (3) | 9 |
| Income tax effect | 1 | 2 | (3) |
| Investment securities available-for-sale, net of income tax effect | (4) | (1) | 6 |
| Reclassification adjustment for investment securities available-for-sale | (1) | (5) | (2) |
| Income tax effect | 0 | 2 | 1 |
| Reclassification adjustment for investment securities available-for-sale, net of income tax effect | (1) | (3) | (1) |
| Other comprehensive income (loss), net of tax | (438) | 117 | 63 |
| Comprehensive Income | 3,179 | 3,233 | 2,822 |
| [1] During the years ended December 31, 2014 and 2013, $7 million and $6 million, respectively, of deferred costs related to the Companys defined benefit pension and other postretirement plans were reclassified from accumulated other comprehensive income (loss) to general and administrative expense. In addition, $1 million and $5 million of net gains on available-for-sale investment securities were reclassified from accumulated other comprehensive income (loss) to investment income during the years ended Decem | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2014 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 13, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating Activities | |||
| Net income | $ 3,617 | 3,116 | 2,759 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of customer and merchant incentives | 691 | 603 | 519 |
| Depreciation and amortization | 321 | 258 | 230 |
| Share-based payments | (15) | 63 | 0 |
| Deferred income taxes | (91) | (119) | 241 |
| Other | 52 | 67 | 52 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (164) | (42) | (121) |
| Income taxes receivable | (8) | 153 | (185) |
| Settlement due from customers | 185 | (194) | (500) |
| Prepaid expenses | (1,316) | (598) | (573) |
| Accrued litigation and legal settlements | (115) | 160 | (44) |
| Accounts payable | 61 | (20) | (2) |
| Settlement due to customers | (165) | 322 | 348 |
| Accrued expenses | 389 | 315 | 221 |
| Net change in other assets and liabilities | (35) | 51 | 3 |
| Net cash provided by operating activities | 3,407 | 4,135 | 2,948 |
| Investing Activities | |||
| Purchases of investment securities available-for-sale | (2,385) | (2,526) | (2,981) |
| Acquisition of businesses, net of cash acquired | (525) | 0 | (70) |
| Purchases of property, plant and equipment | (175) | (155) | (96) |
| Capitalized software | (159) | (144) | (122) |
| Proceeds from sales of investment securities available-for-sale | 2,477 | 1,488 | 390 |
| Proceeds from maturities of investment securities available-for-sale | 1,358 | 1,321 | 891 |
| Decrease (increase) in restricted cash for litigation settlement | 183 | 3 | (726) |
| Proceeds from maturities of investment securities held-to-maturity | 0 | 36 | 0 |
| Other investing activities | (84) | (27) | (125) |
| Net cash provided by (used in) investing activities | 690 | (4) | (2,839) |
| Financing Activities | |||
| Purchases of treasury stock | (3,386) | (2,443) | (1,748) |
| Proceeds from debt | 1,530 | 35 | 0 |
| Dividends paid | (515) | (255) | (132) |
| Tax benefit for share-based payments | 54 | 19 | 47 |
| Cash proceeds from exercise of stock options | 28 | 26 | 31 |
| Other financing activities | (50) | (11) | 4 |
| Net cash used in financing activities | (2,339) | (2,629) | (1,798) |
| Effect of exchange rate changes on cash and cash equivalents | (220) | 45 | 7 |
| Net increase (decrease) in cash and cash equivalents | 1,538 | 1,547 | (1,682) |
| Cash and cash equivalents - beginning of period | 3,599 | 2,052 | 3,734 |
| Cash and cash equivalents - end of period | 5,137 | 3,599 | 2,052 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MASTERCARD INC | ||
Ticker: MA Fiscal Year: 2014 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 13, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| ASSETS | ||
| Cash and cash equivalents | $ 5,137 | 3,599 |
| Restricted cash for litigation settlement | 540 | 723 |
| Investment securities available-for-sale, at fair value | 1,168 | 2,696 |
| Accounts receivable | 1,109 | 966 |
| Settlement due from customers | 1,052 | 1,351 |
| Restricted security deposits held for customers | 950 | 911 |
| Prepaid expenses and other current assets | 741 | 471 |
| Deferred income taxes | 300 | 233 |
| Total Current Assets | 10,997 | 10,950 |
| Property, plant and equipment, net | 615 | 526 |
| Deferred income taxes | 96 | 70 |
| Goodwill | 1,522 | 1,122 |
| Other intangible assets, net | 714 | 672 |
| Other assets | 1,385 | 902 |
| Total Assets | 15,329 | 14,242 |
| LIABILITIES AND EQUITY | ||
| Accounts payable | 419 | 338 |
| Settlement due to customers | 1,142 | 1,433 |
| Restricted security deposits held for customers | 950 | 911 |
| Accrued litigation | 771 | 886 |
| Accrued expenses | 2,439 | 2,101 |
| Other current liabilities | 501 | 363 |
| Total Current Liabilities | 6,222 | 6,032 |
| Long-term debt | 1,494 | 0 |
| Deferred income taxes | 115 | 117 |
| Other liabilities | 674 | 598 |
| Total Liabilities | 8,505 | 6,747 |
| Commitments and Contingencies | ||
| Stockholders' Equity | ||
| Additional paid-in-capital | 3,876 | 3,762 |
| Class A treasury stock, at cost, 237,008,743 and 192,702,740 shares, respectively | (9,995) | (6,577) |
| Retained earnings | 13,169 | 10,121 |
| Accumulated other comprehensive income (loss) | (260) | 178 |
| Total Stockholders' Equity | 6,790 | 7,484 |
| Non-controlling interests | 34 | 11 |
| Total Equity | 6,824 | 7,495 |
| Total Liabilities and Equity | 15,329 | 14,242 |
| Class of Stock | ||
| Class A Common Stock | ||
| Common stock value | 0 | 0 |
| Total Equity | 0 | 0 |
| Class B Common Stock | ||
| Common stock value | 0 | 0 |
| Total Equity | 0 | 0 |
| External Links | |
| MASTERCARD INC (MA) Fiscal Year 2014 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |