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: 2012 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2012 10-K (Filed: Nov 16, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2012 | Sept 30, 2011 | Sept 30, 2010 | |
| Operating Activities | |||
| Net income including non-controlling interest | $ 2,142 | 3,646 | 2,964 |
| Adjustments to reconcile net income including non-controlling interest to net cash provided by (used in) operating activities: | |||
| Amortization of volume and support incentives | 2,155 | 1,880 | 1,560 |
| Fair value adjustment for the Visa Europe put option | 0 | (122) | (79) |
| Share-based compensation | 147 | 154 | 131 |
| Excess tax benefit for share-based compensation | (71) | (18) | (14) |
| Depreciation and amortization of property, equipment and technology | 333 | 288 | 265 |
| Litigation provision and accretion (Note 21) | 4,101 | 18 | (18) |
| Deferred income taxes | (1,690) | 164 | 249 |
| Other | (8) | (104) | (32) |
| Change in operating assets and liabilities: | |||
| Settlement receivable | (42) | (4) | 203 |
| Accounts receivable | (161) | (79) | (7) |
| Client incentives | (1,757) | (1,857) | (1,386) |
| Other assets | (26) | 2 | (42) |
| Accounts payable | (17) | 29 | (21) |
| Settlement payable | 270 | 36 | (245) |
| Accrued and other liabilities | (227) | 129 | 165 |
| Accrued litigation | (140) | (290) | (1,002) |
| Net cash provided by operating activities | 5,009 | 3,872 | 2,691 |
| Investing Activities | |||
| Purchases of property, equipment and technology | (376) | (353) | (241) |
| Proceeds from disposal of property, equipment and technology | 2 | 0 | 3 |
| Investment securities, available-for-sale: | |||
| Purchases | (4,140) | (1,910) | (11) |
| Proceeds from sales and maturities | 2,093 | 129 | 67 |
| Purchases of/contributions to other investments | (12) | (13) | (17) |
| Proceeds from sale of other investments | 22 | 116 | 11 |
| Acquisition, net of cash received of $17, $22, and $147, respectively (See Note 5) | (3) | (268) | (1,805) |
| Distribution from money market investment | 0 | 0 | 89 |
| Net cash used in investing activities | (2,414) | (2,299) | (1,904) |
| Financing Activities | |||
| Repurchase of class A common stock (Note 15) | (710) | (2,024) | (1,000) |
| Dividends paid (Note 15) | (595) | (423) | (368) |
| Deposits into litigation escrow accountretrospective responsibility plan (Note 3) | (1,715) | (1,200) | (500) |
| Payments from litigation escrow accountretrospective responsibility plan (Note 3) | 140 | 280 | 280 |
| Cash proceeds from exercise of stock options | 174 | 99 | 56 |
| Excess tax benefit for share-based compensation | 71 | 18 | 14 |
| Principal payments on debt | 0 | (44) | (12) |
| Principal payments on capital lease obligations | (6) | (10) | (12) |
| Payments for earn-out related to PlaySpan acquisition | (14) | 0 | 0 |
| Net cash (used in) provided by financing activities | (2,655) | (3,304) | (1,542) |
| Effect of exchange rate changes on cash and cash equivalents | 7 | (9) | 5 |
| Decrease in cash and cash equivalents | (53) | (1,740) | (750) |
| Cash and cash equivalents at beginning of year | 2,127 | 3,867 | |
| Cash and cash equivalents at end of year | 2,074 | 2,127 | 3,867 |
| Supplemental Disclosure of Cash Flow Information | |||
| Income taxes paid, net of refunds | 2,057 | 1,731 | 1,291 |
| Amounts included in accounts payable and accrued and other liabilities related to purchases of property, equipment, technology and intangible assets | 67 | 36 | 31 |
| Interest payments on debt | 0 | 3 | 4 |
| External Links | |
| VISA INC. (V) Fiscal Year 2012 | |
| 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 |