10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VISA INC. | |||
Ticker: V Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2010 10-K (Filed: Nov 19, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2010 | Sept 30, 2009 | Sept 30, 2008 | |
| Operating Activities | |||
| Net income including non-controlling interest | $ 2,964 | 2,352 | 804 |
| Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities: | |||
| Gain on sale of other investments | (6) | (473) | |
| Depreciation and amortization of property, equipment and technology | 265 | 226 | 237 |
| Share-based compensation | 131 | 115 | 74 |
| Excess tax benefit for share-based compensation | (14) | (7) | |
| Restricted stock instruments settled in cash for taxes | (14) | (22) | |
| Fair value adjustment for liability under the Framework Agreement | (35) | ||
| Fair value adjustment for the Visa Europe put option | (79) | ||
| Interest earned on litigation escrow, net of tax | (1) | (15) | (13) |
| Net recognized (gain) loss on investment securities, including other-than-temporary impairment | (21) | 5 | 34 |
| Asset impairment | 3 | 11 | 34 |
| Loss on disposal of property, equipment and technology | 2 | ||
| Amortization of volume and support incentives | 1,560 | 1,234 | 1,161 |
| Litigation provision and accretion | (18) | 95 | 1,601 |
| Equity in earnings of unconsolidated affiliates | 7 | (1) | |
| Deferred income taxes | 249 | 297 | (27) |
| Change in operating assets and liabilities: | |||
| Trading securities | (1) | 34 | |
| Accounts receivable | (7) | (102) | (24) |
| Settlement receivable | 203 | 526 | (543) |
| Volume and support incentives | (1,386) | (1,136) | (1,378) |
| Other assets | (41) | (109) | (158) |
| Accounts payable | (21) | (3) | (10) |
| Settlement payable | (245) | (461) | 451 |
| Accrued compensation and benefits | (26) | (23) | (115) |
| Accrued and other liabilities | 191 | 213 | (33) |
| Accrued litigation | (1,002) | (2,201) | (1,525) |
| Member deposits | (3) | ||
| Net cash provided by operating activities | 2,691 | 558 | 531 |
| Investing Activities | |||
| Investment securities, available-for-sale: | |||
| Purchases | (11) | (7) | (1,509) |
| Proceeds from sales and maturities | 67 | 297 | 2,458 |
| Distribution from money market investment | 89 | 884 | |
| Reclassification of money market investment | (983) | ||
| Purchases of/contributions to other investments | (17) | (48) | (25) |
| Proceeds from sale of other investments | 9 | 1,008 | |
| Dividends/distributions from other investments | 2 | 2 | 22 |
| Acquisition, net of cash received of $147 | (1,805) | ||
| Cash acquired through reorganization | 1,002 | ||
| Purchases of property, equipment and technology | (241) | (306) | (415) |
| Proceeds from disposal of property, equipment and technology | 3 | 4 | |
| Net cash (used in) provided by investing activities | (1,904) | 1,830 | 554 |
| Financing Activities | |||
| Proceeds from short-term borrowing | 2 | ||
| Payments on short-term borrowing | (2) | ||
| Proceeds from sale of common stock, net of issuance costs of $550 | 19,100 | ||
| Excess tax benefit for share-based compensation | 14 | 7 | |
| Cash proceeds from exercise of stock options | 56 | 32 | |
| Funding of litigation escrow account-Retrospective Responsibility Plan | (500) | (1,800) | (3,000) |
| Payment from litigation escrow account-Retrospective Responsibility Plan | 280 | 2,028 | 1,085 |
| Funding of tax escrow account for income tax withheld on stock proceeds | (116) | ||
| Payments from tax escrow account | 116 | ||
| Payment for redemption of stock | (2,646) | (13,446) | |
| Dividends paid | (368) | (318) | (93) |
| Principal payments on debt | (12) | (50) | (18) |
| Principal payments on capital lease obligations | (12) | (4) | (4) |
| Repurchase of class A common stock | (1,000) | ||
| Net cash (used in) provided by financing activities | (1,542) | (2,751) | 3,624 |
| Effect of exchange rate changes on cash and cash equivalents | 5 | 1 | (5) |
| (Decrease) increase in cash and cash equivalents | (750) | (362) | 4,704 |
| Cash and cash equivalents at beginning of year | 4,617 | 4,979 | |
| Cash and cash equivalents at end of year | 3,867 | 4,617 | 4,979 |
| Supplemental Disclosure of Cash Flow Information | |||
| Income taxes paid, net of refunds | 1,291 | 1,172 | 678 |
| Amounts included in accounts payable and accrued and other liabilities related to purchases of property, equipment and technology | 31 | 18 | 32 |
| Interest payments on debt | 4 | 7 | 8 |
| Common stock issued in reorganization | 17,935 | ||
| Assets acquired in joint venture with note payable and equity interest issued | 22 | ||
| External Links | |
| VISA INC. (V) Fiscal Year 2010 | |
| 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 |