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: 2020 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Sept 30, 2020 10-K (Filed: Nov 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2020 | Sept 30, 2019 | Sept 30, 2018 | |
| Operating Activities | |||
| Net income | $ 10,866 | 12,080 | 10,301 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Client incentives | 6,664 | 6,173 | 5,491 |
| Share-based compensation | 416 | 407 | 327 |
| Depreciation and amortization of property, equipment, technology and intangible assets | 767 | 656 | 613 |
| Deferred income taxes | 307 | 214 | (1,277) |
| VE territory covered losses incurred | (37) | (172) | (11) |
| Other | (145) | (271) | (64) |
| Change in operating assets and liabilities: | |||
| Settlement receivable | 1,858 | (1,533) | (223) |
| Accounts receivable | (43) | (333) | (70) |
| Client incentives | (8,081) | (6,430) | (4,682) |
| Other assets | (402) | (310) | 59 |
| Accounts payable | 21 | (24) | 3 |
| Settlement payable | (2,384) | 1,931 | 262 |
| Accrued and other liabilities | 923 | 627 | 1,760 |
| Accrued litigation | (290) | (231) | 452 |
| Net cash provided by (used in) operating activities | 10,440 | 12,784 | 12,941 |
| Investing Activities | |||
| Purchases of property, equipment and technology | (736) | (756) | (718) |
| Investment securities: | |||
| Purchases | (2,075) | (2,653) | (5,772) |
| Proceeds from maturities and sales | 4,510 | 3,996 | 3,636 |
| Acquisitions, net of cash and restricted cash acquired | (77) | (699) | (196) |
| Purchases of / contributions to other investments | (267) | (501) | (50) |
| Other investing activities | 72 | 22 | 16 |
| Net cash provided by (used in) investing activities | 1,427 | (591) | (3,084) |
| Financing Activities | |||
| Repurchase of class A common stock | (8,114) | (8,607) | (7,192) |
| Proceeds from issuance of senior notes | 7,212 | 0 | 0 |
| Repayments of debt | 0 | 0 | (1,750) |
| Dividends paid | (2,664) | (2,269) | (1,918) |
| Payment of deferred purchase consideration related to the Visa Europe acquisition | 0 | (1,236) | 0 |
| Cash proceeds from issuance of common stock under employee equity plans | 190 | 162 | 164 |
| Restricted stock and performance-based shares settled in cash for taxes | (160) | (111) | (94) |
| Payments to settle derivative instruments | (333) | 0 | 0 |
| Other financing activities | (99) | 0 | 0 |
| Net cash provided by (used in) financing activities | (3,968) | (12,061) | (10,790) |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | 440 | (277) | (101) |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | 8,339 | (145) | (1,034) |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year | 10,832 | 10,977 | |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year | 19,171 | 10,832 | 10,977 |
| Supplemental Disclosure | |||
| Cash paid for income taxes, net | 2,671 | 2,648 | 2,285 |
| Interest payments on debt | 537 | 537 | 545 |
| Charitable contribution of investment securities to Visa Foundation | 0 | 0 | 195 |
| Accruals related to purchases of property, equipment and technology | 38 | 95 | 77 |
| External Links | |
| VISA INC. (V) Fiscal Year 2020 | |
| 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 |