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: 2019 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2019 10-K (Filed: Nov 14, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2019 | Sept 30, 2018 | Sept 30, 2017 | |
| Operating Activities | |||
| Net income | $ 12,080 | 10,301 | 6,699 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Client incentives (Note 3) | 6,173 | 5,491 | 4,565 |
| Share-based compensation (Note 16) | 407 | 327 | 235 |
| Depreciation and amortization of property, equipment, technology and intangible assets | 656 | 613 | 556 |
| Deferred income taxes | 214 | (1,277) | 1,700 |
| VE territory covered losses incurred (Note 5) | (172) | (11) | (209) |
| Charitable contribution of Visa Inc. shares (Note 19) | 0 | 0 | 192 |
| Other | (271) | (64) | 54 |
| Change in operating assets and liabilities: | |||
| Settlement receivable | (1,533) | (223) | 94 |
| Accounts receivable | (333) | (70) | (54) |
| Client incentives | (6,430) | (4,682) | (4,628) |
| Other assets | (310) | 59 | (147) |
| Accounts payable | (24) | 3 | (30) |
| Settlement payable | 1,931 | 262 | (176) |
| Accrued and other liabilities | 627 | 1,760 | 465 |
| Accrued litigation (Note 20) | (231) | 452 | 1 |
| Net cash provided by (used in) operating activities | 12,784 | 12,941 | 9,317 |
| Investing Activities | |||
| Purchases of property, equipment and technology | (756) | (718) | (707) |
| Proceeds from sales of property, equipment and technology | 0 | 14 | 12 |
| Investment securities: | |||
| Purchases | (2,653) | (5,772) | (3,238) |
| Proceeds from maturities and sales | 3,996 | 3,636 | 5,012 |
| Acquisitions, net of cash and restricted cash acquired | (699) | (196) | (302) |
| Purchases of / contributions to other investments | (501) | (50) | (46) |
| Proceeds / distributions from other investments | 12 | 2 | 4 |
| Other investing activities | 10 | 0 | 0 |
| Net cash provided by (used in) investing activities | (591) | (3,084) | 735 |
| Financing Activities | |||
| Repurchase of class A common stock (Note 14) | (8,607) | (7,192) | (6,891) |
| Repayments of long-term debt | 0 | (1,750) | 0 |
| Dividends paid (Note 14) | (2,269) | (1,918) | (1,579) |
| Payment of deferred purchase consideration related to the Visa Europe acquisition | (1,236) | 0 | 0 |
| Proceeds from issuance of senior notes | 0 | 0 | 2,488 |
| Debt issuance costs | 0 | 0 | (15) |
| Cash proceeds from issuance of common stock under employee equity plans | 162 | 164 | 149 |
| Restricted stock and performance-based shares settled in cash for taxes | (111) | (94) | (76) |
| Net cash provided by (used in) financing activities | (12,061) | (10,790) | (5,924) |
| Effect of exchange rate changes on cash and cash equivalents | (277) | (101) | 236 |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (145) | (1,034) | 4,364 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year | 10,977 | 12,011 | |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year | 10,832 | 10,977 | 12,011 |
| Supplemental Disclosure | |||
| Income taxes paid, net of refunds | 2,648 | 2,285 | 3,038 |
| Interest payments on debt | 537 | 545 | 489 |
| Charitable contribution of investment securities to Visa Foundation | 0 | 195 | 0 |
| Accruals related to purchases of property, equipment and technology | 95 | 77 | 50 |
| External Links | |
| VISA INC. (V) Fiscal Year 2019 | |
| 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 |