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: 2014 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2014 10-K (Filed: Nov 21, 2014) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Sept 30, 2014 | Sept 30, 2013 | Sept 30, 2012 | |
Operating Activities | |||
Net income including non-controlling interest | $ 5,438 | 4,980 | 2,142 |
Adjustments to reconcile net income including non-controlling interest to net cash provided by (used in) operating activities: | |||
Amortization of client incentives | 2,592 | 2,321 | 2,155 |
Share-based compensation | 172 | 179 | 147 |
Excess tax benefit for share-based compensation | (90) | (74) | (71) |
Depreciation and amortization of property, equipment, technology and intangible assets | 435 | 397 | 333 |
Deferred income taxes | (580) | 1,527 | (1,690) |
Litigation provision (Note 20) | 453 | 3 | 4,101 |
Other | 37 | 50 | (8) |
Change in operating assets and liabilities: | |||
Income tax receivable | 51 | 37 | (67) |
Settlement receivable | 13 | (345) | (42) |
Accounts receivable | (53) | (38) | (161) |
Client incentives | (2,395) | (2,336) | (1,757) |
Other assets | (430) | (543) | 41 |
Accounts payable | (56) | 40 | (17) |
Settlement payable | 107 | 506 | 270 |
Accrued and other liabilities | 513 | 702 | (227) |
Accrued litigation (Note 20) | 998 | (4,384) | (140) |
Net cash provided by operating activities | 7,205 | 3,022 | 5,009 |
Investing Activities | |||
Purchases of property, equipment, technology and intangible assets | (553) | (471) | (376) |
Proceeds from disposal of property, equipment and technology | 0 | 0 | 2 |
Investment securities, available-for-sale: | |||
Purchases | (2,572) | (3,164) | (4,140) |
Proceeds from maturities and sales | 2,342 | 2,440 | 2,093 |
Acquisitions, net of cash received | (149) | 0 | (3) |
Purchases of / contributions to other investments | (9) | (3) | (12) |
Proceeds / distributions from other investments | 0 | 34 | 22 |
Net cash used in investing activities | (941) | (1,164) | (2,414) |
Financing Activities | |||
Repurchase of class A common stock (Note 14) | (4,118) | (5,365) | (710) |
Dividends paid (Note 14) | (1,006) | (864) | (595) |
Deposits into litigation escrow accountretrospective responsibility plan (Note 3) | (450) | 0 | (1,715) |
(Return to) payments from litigation escrow accountretrospective responsibility plan (Note 3) | (999) | 4,383 | 140 |
Cash proceeds from exercise of stock options | 91 | 108 | 174 |
Restricted stock and performance-based shares settled in cash for taxes | (86) | (64) | 0 |
Excess tax benefit for share-based compensation | 90 | 74 | 71 |
Payments for earn-out related to PlaySpan acquisition | 0 | (12) | (14) |
Principal payments on capital lease obligations | 0 | (6) | (6) |
Net cash used in financing activities | (6,478) | (1,746) | (2,655) |
Effect of exchange rate changes on cash and cash equivalents | (1) | 0 | 7 |
(Decrease) increase in cash and cash equivalents | (215) | 112 | (53) |
Cash and cash equivalents at beginning of year | 2,186 | 2,074 | |
Cash and cash equivalents at end of year | 1,971 | 2,186 | 2,074 |
Supplemental Disclosure | |||
Income taxes paid, net of refunds | 2,656 | 595 | 2,057 |
Non-cash accruals related to purchases of property, equipment, technology and intangible assets | 62 | 46 | 67 |
External Links | |
VISA INC. (V) 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 |