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: 2013 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2013 10-K (Filed: Nov 22, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2013 | Sept 30, 2012 | Sept 30, 2011 | |
| Operating Activities | |||
| Net income including non-controlling interest | $ 4,980 | 2,142 | 3,646 |
| Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities: | |||
| Amortization of client incentives | 2,321 | 2,155 | 1,880 |
| Share-based compensation | 179 | 147 | 154 |
| Excess tax benefit for share-based compensation | (74) | (71) | (18) |
| Depreciation and amortization of property, equipment, technology and intangible assets | 397 | 333 | 288 |
| Deferred income taxes | 1,527 | (1,690) | 164 |
| Litigation provision and accretion (Note 20) | 3 | 4,101 | 18 |
| Fair value adjustment for the Visa Europe put option | 0 | 0 | (122) |
| Other | 50 | (8) | (104) |
| Change in operating assets and liabilities: | |||
| Income tax receivable | 37 | (67) | 28 |
| Settlement receivable | (345) | (42) | (4) |
| Accounts receivable | (38) | (161) | (79) |
| Client incentives | (2,336) | (1,757) | (1,857) |
| Other assets | (543) | 41 | (26) |
| Accounts payable | 40 | (17) | 29 |
| Settlement payable | 506 | 270 | 36 |
| Accrued and other liabilities | 702 | (227) | 129 |
| Accrued litigation (Note 20) | (4,384) | (140) | (290) |
| Net cash provided by operating activities | 3,022 | 5,009 | 3,872 |
| Investing Activities | |||
| Purchases of property, equipment, technology and intangible assets | (471) | (376) | (353) |
| Proceeds from disposal of property, equipment and technology | 0 | 2 | 0 |
| Investment securities, available-for-sale: | |||
| Purchases | (3,164) | (4,140) | (1,910) |
| Proceeds from sales and maturities | 2,440 | 2,093 | 129 |
| Purchases of / contributions to other investments | (3) | (12) | (13) |
| Proceeds / distributions from other investments | 34 | 22 | 116 |
| Acquisitions, net of cash received | 0 | (3) | (268) |
| Net cash used in investing activities | (1,164) | (2,414) | (2,299) |
| Financing Activities | |||
| Repurchase of class A common stock (Note 14) | (5,365) | (710) | (2,024) |
| Dividends paid (Note 14) | (864) | (595) | (423) |
| Deposits into litigation escrow accountretrospective responsibility plan (Note 3) | 0 | (1,715) | (1,200) |
| Payments from litigation escrow accountretrospective responsibility plan (Note 3) | 4,383 | 140 | 280 |
| Cash proceeds from exercise of stock options | 108 | 174 | 99 |
| Restricted stock and performance shares settled in cash for taxes | (64) | 0 | 0 |
| Excess tax benefit for share-based compensation | 74 | 71 | 18 |
| Payments for earn-out related to PlaySpan acquisition | (12) | (14) | 0 |
| Principal payments on capital lease obligations | (6) | (6) | (10) |
| Principal payments on debt | 0 | 0 | (44) |
| Net cash used in financing activities | (1,746) | (2,655) | (3,304) |
| Effect of exchange rate changes on cash and cash equivalents | 0 | 7 | (9) |
| Increase (decrease) in cash and cash equivalents | 112 | (53) | (1,740) |
| Cash and cash equivalents at beginning of year | 2,074 | 2,127 | |
| Cash and cash equivalents at end of year | 2,186 | 2,074 | 2,127 |
| Supplemental Disclosure | |||
| Income taxes paid, net of refunds | 595 | 2,057 | 1,731 |
| Non-cash accruals related to purchases of property, equipment, technology and intangible assets | 46 | 67 | 36 |
| Interest payments on debt | 0 | 0 | 3 |
| External Links | |
| VISA INC. (V) Fiscal Year 2013 | |
| 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 |