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: 2018 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2018 10-K (Filed: Nov 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2018 | Sept 30, 2017 | Sept 30, 2016 | |
| Operating Activities | |||
| Net income | $ 10,301 | 6,699 | 5,991 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Client incentives | 5,491 | 4,565 | 3,409 |
| Fair value adjustment for the Visa Europe put option | 0 | 0 | (255) |
| Share-based compensation (Note 13) | 327 | 235 | 221 |
| Excess tax benefit for share-based compensation | 0 | 0 | (63) |
| Depreciation and amortization of property, equipment, technology and intangible assets | 613 | 556 | 502 |
| Deferred income taxes | (1,277) | 1,700 | (764) |
| Right to recover for covered losses recorded in equity (Note 2) | (11) | (209) | (9) |
| Charitable contribution of Visa Inc. shares (Note 11 and Note 16) | 0 | 192 | 0 |
| Other | (74) | 50 | 64 |
| Change in operating assets and liabilities: | |||
| Settlement receivable | (223) | 94 | 391 |
| Accounts receivable | (70) | (54) | (65) |
| Client incentives | (4,682) | (4,628) | (3,508) |
| Other assets | (160) | (252) | (315) |
| Accounts payable | 3 | (30) | 43 |
| Settlement payable | 262 | (176) | (302) |
| Accrued and other liabilities | 1,761 | 465 | 277 |
| Accrued litigation (Note 17) | 452 | 1 | (43) |
| Net cash provided by operating activities | 12,713 | 9,208 | 5,574 |
| Investing Activities | |||
| Purchases of property, equipment, technology and intangible assets | (718) | (707) | (523) |
| Proceeds from sales of property, equipment and technology | 14 | 12 | 0 |
| Investment securities, available-for-sale: | |||
| Purchases | (5,772) | (3,238) | (10,426) |
| Proceeds from maturities and sales | 3,636 | 5,012 | 9,119 |
| Acquisitions, net of cash received | (196) | (302) | (9,082) |
| Purchases of / contributions to other investments | (50) | (46) | (10) |
| Proceeds / distributions from other investments | 2 | 4 | 6 |
| Net cash (used in) provided by investing activities | (3,084) | 735 | (10,916) |
| Financing Activities | |||
| Repayments of long-term debt (Note 6) | (1,750) | 0 | 0 |
| Dividends paid (Note 11) | (1,918) | (1,579) | (1,350) |
| Proceeds from issuance of senior notes (Note 6) | 0 | 2,488 | 15,971 |
| Debt issuance costs (Note 6) | 0 | (15) | (98) |
| Deposit into U.S. litigation escrow accountU.S. retrospective responsibility plan (Note 2 and Note 17) | (600) | 0 | 0 |
| Payments from U.S. litigation escrow accountU.S. retrospective responsibility plan (Note 2 and Note 17) | 150 | 0 | 45 |
| Cash proceeds from issuance of common stock under employee equity plans | 164 | 149 | 95 |
| Restricted stock and performance-based shares settled in cash for taxes | (94) | (76) | (92) |
| Excess tax benefit for share-based compensation | 0 | 0 | 63 |
| Net cash (used in) provided by financing activities | (11,240) | (5,924) | 7,477 |
| Effect of exchange rate changes on cash and cash equivalents | (101) | 236 | (34) |
| (Decrease) increase in cash and cash equivalents | (1,712) | 4,255 | 2,101 |
| Cash and cash equivalents at beginning of year | 9,874 | 5,619 | |
| Cash and cash equivalents at end of year | 8,162 | 9,874 | 5,619 |
| Supplemental Disclosure | |||
| Series B and C convertible participating preferred stock issued in Visa Europe acquisition (Note 2) | 0 | 0 | 5,717 |
| Deferred purchase consideration recorded for Visa Europe acquisition (Note 2) | 0 | 0 | 1,236 |
| Income taxes paid, net of refunds | 2,285 | 3,038 | 2,842 |
| Interest payments on debt | 545 | 489 | 244 |
| Charitable contribution of available-for-sale investment securities to Visa Foundation | 195 | 0 | 0 |
| Accruals related to purchases of property, equipment, technology and intangible assets | 77 | 50 | 42 |
| Class of Stock | |||
| Class A common stock | |||
| Repurchase of common stock | (7,192) | (6,891) | (6,987) |
| Class C common stock | |||
| Repurchase of common stock | 0 | 0 | (170) |
| External Links | |
| VISA INC. (V) Fiscal Year 2018 | |
| 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 |