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: 2015 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 12, 2016) | |||
(In Millions) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
Net Revenue | $ 9,667 | 9,441 | 8,312 |
Operating Expenses | |||
General and administrative | 3,341 | 3,152 | 2,615 |
Advertising and marketing | 821 | 862 | 841 |
Depreciation and amortization | 366 | 321 | 258 |
Provision for litigation settlement | 61 | 0 | 95 |
Total operating expenses | 4,589 | 4,335 | 3,809 |
Operating income | 5,078 | 5,106 | 4,503 |
Other Income (Expense) | |||
Investment income | 25 | 28 | 38 |
Interest expense | (61) | (48) | (14) |
Other income (expense), net | (84) | (7) | (27) |
Total other income (expense) | (120) | (27) | (3) |
Income before income taxes | 4,958 | 5,079 | 4,500 |
Income tax expense | 1,150 | 1,462 | 1,384 |
Net Income | 3,808 | 3,617 | 3,116 |
Basic Earnings per Share | 3.36 | 3.11 | 2.57 |
Basic Weighted-Average Shares Outstanding | 1,134 | 1,165 | 1,211 |
Diluted Earnings per Share | 3.35 | 3.10 | 2.56 |
Diluted Weighted-Average Shares Outstanding | 1,137 | 1,169 | 1,215 [1] |
[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: 2015 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 12, 2016) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
Net Income | $ 3,808 | 3,617 | 3,116 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | (460) | (436) [1] | 113 |
Income tax effect | 27 | 0 | 0 |
Foreign currency translation adjustments, net of income tax effect | (433) | (436) | 113 |
Translation adjustments on net investment hedge | (40) | 0 | 0 |
Income tax effect | 14 | 0 | 0 |
Translation adjustments on net investment hedge, net of income tax effect | (26) | 0 | 0 |
Defined benefit pension and other postretirement plans | (19) | (3) | 7 |
Income tax effect | 7 | 2 | (3) |
Defined benefit pension and other postretirement plans, net of income tax effect | (12) | (1) | 4 |
Reclassification adjustment for defined benefit pension and other postretirement plans | 80 | 7 | 6 |
Income tax effect | (29) | (3) | (2) |
Reclassification adjustment for defined benefit pension and other postretirement plans, net of income tax effect | 51 | 4 | 4 |
Investment securities available-for-sale | (11) | (5) | (3) |
Income tax effect | 0 | 1 | 2 |
Investment securities available-for-sale, net of income tax effect | (11) | (4) | (1) |
Reclassification adjustment for investment securities available-for-sale | 15 | (1) | (5) |
Income tax effect | 0 | 0 | 2 |
Reclassification adjustment for investment securities available-for-sale, net of income tax effect | 15 | (1) | (3) |
Other comprehensive income (loss), net of tax | (416) [2] | (438) | 117 |
Comprehensive Income | 3,392 | 3,179 | 3,233 |
[1] During 2015 and 2014, the increase in other comprehensive loss related to foreign currency translation adjustments was driven primarily by the devaluation of the euro and Brazilian real. | |||
[2] During 2015, $80 million of deferred costs ($51 million after-tax) related to the Companys defined benefit pension plan and other post retirement plans were reclassified to general and administrative expenses. The deferred costs were driven primarily by the termination of the Company's U.S. defined benefit plan (See Note 11, Pension, Postretirement and Savings Plans). | During 2015, $15 million of an unrealized loss (no tax impact) on a foreign denominated available-for-sale security was reclassified to ot |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2015 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 12, 2016) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
Operating Activities | |||
Net income | $ 3,808 | 3,617 | 3,116 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Amortization of customer and merchant incentives | 764 | 691 | 603 |
Depreciation and amortization | 366 | 321 | 258 |
Share-based payments | 22 | (15) | 63 |
Deferred income taxes | (16) | (91) | (119) |
Other | (81) | 52 | 67 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (35) | (164) | (42) |
Income taxes receivable | (14) | (8) | 153 |
Settlement due from customers | (98) | 185 | (194) |
Prepaid expenses | (802) | (1,316) | (598) |
Accrued litigation and legal settlements | (63) | (115) | 160 |
Accounts payable | 49 | 61 | (20) |
Settlement due to customers | (186) | (165) | 322 |
Accrued expenses | 325 | 389 | 315 |
Net change in other assets and liabilities | 4 | (35) | 51 |
Net cash provided by operating activities | 4,043 | 3,407 | 4,135 |
Investing Activities | |||
Purchases of investment securities available-for-sale | (974) | (2,385) | (2,526) |
Purchases of other short-term investments held-to-maturity | (918) | 0 | 0 |
Proceeds from sales of investment securities available-for-sale | 703 | 2,477 | 1,488 |
Proceeds from maturities of investment securities available-for-sale | 542 | 1,358 | 1,321 |
Proceeds from maturities of investment securities held-to-maturity | 857 | 0 | 36 |
Purchases of property, plant and equipment | (177) | (175) | (155) |
Capitalized software | (165) | (159) | (144) |
Acquisition of businesses, net of cash acquired | (584) | (525) | 0 |
(Increase) decrease in restricted cash for litigation settlement | (1) | 183 | 3 |
Other investing activities | 2 | (84) | (27) |
Net cash (used in) provided by investing activities | (715) | 690 | (4) |
Financing Activities | |||
Purchases of treasury stock | (3,518) | (3,386) | (2,443) |
Proceeds from debt | 1,735 | 1,530 | 35 |
Dividends paid | (727) | (515) | (255) |
Tax benefit for share-based payments | 42 | 54 | 19 |
Cash proceeds from exercise of stock options | 27 | 28 | 26 |
Other financing activities | (17) | (50) | (11) |
Net cash used in financing activities | (2,458) | (2,339) | (2,629) |
Effect of exchange rate changes on cash and cash equivalents | (260) | (220) | 45 |
Net increase in cash and cash equivalents | 610 | 1,538 | 1,547 |
Cash and cash equivalents - beginning of period | 5,137 | 3,599 | |
Cash and cash equivalents - end of period | 5,747 | 5,137 | 3,599 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MASTERCARD INC | ||
Ticker: MA Fiscal Year: 2015 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 12, 2016) | ||
(In Millions, except shares in actual) | ||
As of | As of | |
Dec 31, 2015 | Dec 31, 2014 | |
ASSETS | ||
Cash and cash equivalents | $ 5,747 | 5,137 |
Restricted cash for litigation settlement | 541 | 540 |
Investments | 991 | 1,238 |
Accounts receivable | 1,079 | 1,109 |
Settlement due from customers | 1,068 | 1,052 |
Restricted security deposits held for customers | 895 | 950 |
Prepaid expenses and other current assets | 664 | 671 |
Deferred income taxes | 0 | 300 |
Total Current Assets | 10,985 | 10,997 |
Property, plant and equipment, net | 675 | 615 |
Deferred income taxes | 317 | 96 |
Goodwill | 1,891 | 1,522 |
Other intangible assets, net | 803 | 714 |
Other assets | 1,598 | 1,385 |
Total Assets | 16,269 | 15,329 |
LIABILITIES AND EQUITY | ||
Accounts payable | 472 | 419 |
Settlement due to customers | 866 | 1,142 |
Restricted security deposits held for customers | 895 | 950 |
Accrued litigation | 709 | 771 |
Accrued expenses | 2,763 | 2,439 |
Other current liabilities | 564 | 501 |
Total Current Liabilities | 6,269 | 6,222 |
Long-term debt | 3,287 | 1,494 |
Deferred income taxes | 79 | 115 |
Other liabilities | 572 | 674 |
Total Liabilities | 10,207 | 8,505 |
Commitments and Contingencies | ||
Stockholders Equity | ||
Additional paid-in-capital | 4,004 | 3,876 |
Class A treasury stock, at cost, 275 and 237 shares, respectively | (13,522) | (9,995) |
Retained earnings | 16,222 | 13,169 |
Accumulated other comprehensive income (loss) | (676) | (260) |
Total Stockholders Equity | 6,028 | 6,790 |
Non-controlling interests | 34 | 34 |
Total Equity | 6,062 | 6,824 |
Total Liabilities and Equity | 16,269 | 15,329 |
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 2015 | |
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 |