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: 2015 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2015 10-K (Filed: Nov 20, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2015 | Sept 30, 2014 | Sept 30, 2013 | |
| Operating Activities | |||
| Net income | $ 6,328 | 5,438 | 4,980 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of client incentives | 2,861 | 2,592 | 2,321 |
| Fair value adjustment for the Visa Europe put option | 110 | 0 | 0 |
| Share-based compensation | 187 | 172 | 179 |
| Excess tax benefit for share-based compensation | (84) | (90) | (74) |
| Depreciation and amortization of property, equipment, technology and intangible assets | 494 | 435 | 397 |
| Deferred income taxes | 195 | (580) | 1,527 |
| Litigation provision (Note 20) | 14 | 453 | 3 |
| Other | 24 | 37 | 50 |
| Change in operating assets and liabilities: | |||
| Settlement receivable | 378 | 13 | (345) |
| Accounts receivable | (19) | (53) | (38) |
| Client incentives | (2,970) | (2,395) | (2,336) |
| Other assets | (41) | (379) | (506) |
| Accounts payable | (13) | (56) | 40 |
| Settlement payable | (552) | 107 | 506 |
| Accrued and other liabilities | 118 | 513 | 702 |
| Accrued litigation (Note 20) | (446) | 998 | (4,384) |
| Net cash provided by operating activities | 6,584 | 7,205 | 3,022 |
| Investing Activities | |||
| Purchases of property, equipment, technology and intangible assets | (414) | (553) | (471) |
| Proceeds from sales of property, equipment and technology | 10 | 0 | 0 |
| Investment securities, available-for-sale: | |||
| Purchases | (2,850) | (2,572) | (3,164) |
| Proceeds from maturities and sales | 1,925 | 2,342 | 2,440 |
| Acquisitions, net of cash received (Note 7) | (93) | (149) | 0 |
| Purchases of / contributions to other investments | (25) | (9) | (3) |
| Proceeds / distributions from other investments | 12 | 0 | 34 |
| Net cash used in investing activities | (1,435) | (941) | (1,164) |
| Financing Activities | |||
| Repurchase of class A common stock (Note 14) | (2,910) | (4,118) | (5,365) |
| Dividends paid (Note 14) | (1,177) | (1,006) | (864) |
| Deposits into litigation escrow accountU.S. retrospective responsibility plan (Note 3) | 0 | (450) | 0 |
| Payments from (return to) litigation escrow accountU.S. retrospective responsibility plan (Note 3 and Note 20) | 426 | (999) | 4,383 |
| Cash proceeds from issuance of common stock under employee equity plans | 82 | 91 | 108 |
| Restricted stock and performance-based shares settled in cash for taxes | (108) | (86) | (64) |
| Excess tax benefit for share-based compensation | 84 | 90 | 74 |
| Payments for earn-out related to PlaySpan acquisition | 0 | 0 | (12) |
| Principal payments on capital lease obligations | 0 | 0 | (6) |
| Net cash used in financing activities | (3,603) | (6,478) | (1,746) |
| Effect of exchange rate changes on cash and cash equivalents | 1 | (1) | 0 |
| Increase (decrease) in cash and cash equivalents | 1,547 | (215) | 112 |
| Cash and cash equivalents at beginning of year | 1,971 | 2,186 | |
| Cash and cash equivalents at end of year | 3,518 | 1,971 | 2,186 |
| Supplemental Disclosure | |||
| Income taxes paid, net of refunds | 2,486 | 2,656 | 595 |
| Accruals related to purchases of property, equipment, technology and intangible assets | 81 | 62 | 46 |
| External Links | |
| VISA INC. (V) 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 |