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: 2011 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Sept 30, 2011 10-K (Filed: Nov 18, 2011) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2011 | Sept 30, 2010 | Sept 30, 2009 | |
| Operating Revenues | |||
| Service revenues | $ 4,261 | 3,497 | 3,174 |
| Data processing revenues | 3,478 | 3,125 | 2,430 |
| International transaction revenues | 2,674 | 2,290 | 1,916 |
| Other revenues | 655 | 713 | 625 |
| Client incentives | (1,880) | (1,560) | (1,234) |
| Total operating revenues | 9,188 | 8,065 | 6,911 |
| Operating Expenses | |||
| Personnel | 1,459 | 1,222 | 1,228 |
| Network and processing | 357 | 425 | 393 |
| Marketing | 870 | 964 | 918 |
| Professional fees | 337 | 286 | 268 |
| Depreciation and amortization | 288 | 265 | 226 |
| General and administrative | 414 | 359 | 338 |
| Litigation provision (Note 21) | 7 [1] | (45) | 2 |
| Total operating expenses | 3,732 | 3,476 | 3,373 |
| Operating income | 5,456 | 4,589 | 3,538 |
| Other Income (Expense) | |||
| Interest expense | (32) | (72) | (115) |
| Investment income, net | 108 | 49 | 575 |
| Other | 124 | 72 | 2 |
| Total other income | 200 | 49 | 462 |
| Income before income taxes | 5,656 | 4,638 | 4,000 |
| Income tax provision | 2,010 | 1,674 | 1,648 |
| Net income including non-controlling interest | 3,646 | 2,964 | 2,352 |
| Loss attributable to non-controlling interest | 4 | 2 | 1 |
| Net income attributable to Visa Inc. | 3,650 | 2,966 | 2,353 |
| Class of Stock | |||
| Class A common stock | |||
| Net income attributable to Visa Inc. | 2,638 | 1,940 | 1,397 |
| Basic earnings per share (Note 16) | 5.18 | 4.03 | 3.10 |
| Basic weighted-average shares outstanding (Note 16) | 509 | 482 | 451 |
| Diluted earnings per share (Note 16) | 5.16 | 4.01 | 3.10 |
| Diluted weighted-average shares outstanding (Note 16) | 707 [2] | 739 | 759 |
| Class B common stock | |||
| Net income attributable to Visa Inc. | 636 [3] | 566 | 485 |
| Basic earnings per share (Note 16) | 2.59 | 2.31 | 1.98 |
| Basic weighted-average shares outstanding (Note 16) | 245 | 245 | 245 |
| Diluted earnings per share (Note 16) | 2.58 | 2.30 | 1.98 |
| Diluted weighted-average shares outstanding (Note 16) | 245 | 245 | 245 |
| Class C common stock | |||
| Net income attributable to Visa Inc. | 364 | 451 | 460 |
| Basic earnings per share (Note 16) | 5.18 [4] | 4.03 | 3.10 |
| Basic weighted-average shares outstanding (Note 16) | 70 | 112 | 148 |
| Diluted earnings per share (Note 16) | 5.16 | 4.01 | 3.10 |
| Diluted weighted-average shares outstanding (Note 16) | 70 | 112 | 148 |
| [4] Earnings per share calculated based on whole numbers, not rounded numbers. | |||
| [1] The amount for the twelve months ended September 30, 2010 includes the reduction to the provision for the $41 million pre-tax gain recognized related to the prepayment of the remaining obligations under the Retailers' litigation. | |||
| [2] The computation of weighted-average dilutive shares outstanding included the effect of 3 million dilutive shares of outstanding stock awards for fiscal 2011, and 2 million for fiscal 2010 and 2009, respectively. The computation excluded stock options to purchase approximately $2 million, 3 million and less than 1 million shares of common stock for fiscal 2011, 2010 and 2009, respectively, because their effect would have been anti-dilutive. | |||
| [3] Net income attributable to Visa Inc. is allocated to each class of common stock on an as-converted basis. The weighted average numbers of shares of as-converted class B common stock used in the income allocation were 123 million, 141 million and 157 million for fiscal 2011, 2010 and 2009, respectively. | |||
| External Links | |
| VISA INC. (V) Fiscal Year 2011 | |
| 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 |