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: 2010 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Sept 30, 2010 10-K (Filed: Nov 19, 2010) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2010 | Sept 30, 2009 | Sept 30, 2008 | |
| Operating Revenues | |||
| Service revenues | $ 3,497 | 3,174 | 3,061 |
| Data processing revenues | 3,125 | 2,430 | 2,073 |
| International transaction revenues | 2,290 | 1,916 | 1,721 |
| Other revenues | 713 | 625 | 569 |
| Volume and support incentives | (1,560) | (1,234) | (1,161) |
| Total operating revenues | 8,065 | 6,911 | 6,263 |
| Operating Expenses | |||
| Personnel | 1,222 | 1,228 | 1,314 |
| Network, EDP and communications | 425 | 393 | 339 |
| Advertising, marketing and promotion | 964 | 918 | 1,016 |
| Professional and consulting fees | 286 | 268 | 323 |
| Depreciation and amortization | 265 | 226 | 237 |
| Administrative and other | 359 | 338 | 332 |
| Litigation provision (Note 22) | (45) | 2 | 1,470 |
| Total operating expenses | 3,476 | 3,373 | 5,031 |
| Operating income | 4,589 | 3,538 | 1,232 |
| Other Income (Expense) | |||
| Equity in earnings of unconsolidated affiliates | (7) | 1 | |
| Interest expense | (72) | (115) | (143) |
| Investment income, net (Note 5) | 49 | 575 | 211 |
| Other | 79 | 2 | 35 |
| Total other income | 49 | 462 | 104 |
| Income before income taxes | 4,638 | 4,000 | 1,336 |
| Income tax expense | 1,674 | 1,648 | 532 |
| Net income including non-controlling interest | 2,964 | 2,352 | 804 |
| Loss attributable to non-controlling interest | 2 | 1 | |
| Net income attributable to Visa Inc. | 2,966 | 2,353 | 804 |
| Class of Stock | |||
| Class A common stock | |||
| Net income attributable to Visa Inc. | 1,940 | 1,397 | 232 |
| Basic earnings per share (Note 17) | 4.03 [1] | 3.10 | 0.96 |
| Basic weighted average shares outstanding (Note 17) | 482 | 451 | 239 |
| Diluted earnings per share (Note 17) | 4.01 | 3.10 | 0.96 |
| Diluted weighted average shares outstanding (Note 17) | 739 | 759 | 770 |
| Class B common stock | |||
| Net income attributable to Visa Inc. | 566 | 485 [2] | 284 |
| Basic earnings per share (Note 17) | 2.31 | 1.98 | 0.85 |
| Basic weighted average shares outstanding (Note 17) | 245 | 245 | 333 |
| Diluted earnings per share (Note 17) | 2.30 | 1.98 | 0.85 |
| Diluted weighted average shares outstanding (Note 17) | 245 | 245 | 333 |
| Class C common stock | |||
| Net income attributable to Visa Inc. | 451 | 460 | |
| Basic earnings per share (Note 17) | 4.03 | 3.10 | |
| Basic weighted average shares outstanding (Note 17) | 112 | 148 | |
| Diluted earnings per share (Note 17) | 4.01 | 3.10 | |
| Diluted weighted average shares outstanding (Note 17) | 112 | 148 | |
| Class C (series I) common stock | |||
| Net income attributable to Visa Inc. | 183 | ||
| Basic earnings per share (Note 17) | 0.96 | ||
| Basic weighted average shares outstanding (Note 17) | 191 | ||
| Diluted earnings per share (Note 17) | 0.96 | ||
| Diluted weighted average shares outstanding (Note 17) | 191 | ||
| Class C (series II) common stock | |||
| Net income attributable to Visa Inc. | 44 | ||
| Basic earnings per share (Note 17) | 0.79 | ||
| Basic weighted average shares outstanding (Note 17) | 56 | ||
| Diluted earnings per share (Note 17) | 0.79 | ||
| Diluted weighted average shares outstanding (Note 17) | 56 | ||
| Class C (series III and IV) common stock | |||
| Net income attributable to Visa Inc. | 42 | ||
| Basic earnings per share (Note 17) | 0.96 | ||
| Basic weighted average shares outstanding (Note 17) | 44 | ||
| Diluted earnings per share (Note 17) | 0.96 | ||
| Diluted weighted average shares outstanding (Note 17) | 44 | ||
| [1] Earnings per share calculated based on whole numbers, not rounded numbers. | The computation of average dilutive shares outstanding excluded approximately 3 million stock options for fiscal 2010 and less than 1 million for fiscal 2009 and 2008, respectively, because their effect would have been anti-dilutive. | |||
| [2] Net income attributable to Visa Inc. is allocated to each class and series of common stock on an as-converted basis. The weighted average numbers of shares of class B common stock outstanding on an as-converted basis used in the allocation of net income were 141 million, 157 million and 295 million for fiscal 2010, 2009 and 2008, respectively. | |||
| External Links | |
| VISA INC. (V) Fiscal Year 2010 | |
| 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 |