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10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

VISA INC.

Ticker: V   Fiscal Year: 2016

CONSOLIDATED STATEMENTS OF OPERATIONS

Period Ending Sept 30, 2016 10-K (Filed: Nov 15, 2016)

(In Millions)
 12 Months Ended12 Months Ended12 Months Ended
 Sept 30, 2016Sept 30, 2015Sept 30, 2014
Operating Revenues
Service revenues
$
6,747
6,3025,797
Data processing revenues6,2725,5525,167
International transaction revenues4,6494,0643,560
Other revenues823823770
Client incentives(3,409)(2,861)(2,592)
Net operating revenues15,08213,88012,702
 
Operating Expenses
Personnel2,2262,0791,875
Marketing869872900
Network and processing538474507
Professional fees389336328
Depreciation and amortization502494435
General and administrative796547507
Litigation provision (Note 20)214453
Visa Europe Framework Agreement loss (Note 2)1,87700
Total operating expenses7,1994,8165,005
 
Operating income7,8839,0647,697
 
Non-operating Income (Expense)
Interest expense(427)(3)(8)
Other (Note 4 and Note 12)556(66)35
Non-operating income (expense)129(69)27
 
Income before income taxes8,0128,9957,724
 
Income tax provision (Note 19)2,021 [1]2,6672,286
Net income5,9916,3285,438
 
Earnings Per Share [Abstract]
Class of Stock
Class A common stock
Basic earnings per share (Note 15)2.492.582.16
Basic weighted-average shares outstanding (Note 15)1,9061,9541,993
Diluted earnings per share (Note 15)2.482.582.16
Diluted weighted-average shares outstanding (Note 15)2,414 [2]2,4572,523
Class B common stock
Basic earnings per share (Note 15)4.104.263.63
Basic weighted-average shares outstanding (Note 15)245245245
Diluted earnings per share (Note 15)4.094.253.62
Diluted weighted-average shares outstanding (Note 15)245245245
Class C common stock
Basic earnings per share (Note 15)9.9410.338.65
Basic weighted-average shares outstanding (Note 15)192226
Diluted earnings per share (Note 15)9.93 [3]10.308.62
Diluted weighted-average shares outstanding (Note 15)192226
[2] Weighted-average diluted shares outstanding are calculated on an as-converted basis, and include incremental common stock equivalents, as calculated under the treasury stock method. The computation includes 5 million, 6 million and 7 million common stock equivalents for fiscal 2016, 2015 and 2014, respectively, because their effect would have been dilutive. The computation excludes 2 million of common stock equivalents for fiscal 2016, 2015 and 2014 because their effect would have been anti-dilutive.
[3] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers. The number of shares and per share amounts for the prior periods presented have been retroactively adjusted to reflect the four-for-one stock split effected in the fiscal second quarter of 2015. See Note 14Stockholders' Equity.
[1] The Company did not include Visa Europe's financial results in the Company's consolidated statements of operations from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. The Company's consolidated statement of operations for the year ended September 30, 2016 includes Visa Europe's financial results for the three months ended September 30, 2016. See Note 2Acquisition of Visa Europe.
External Links 
VISA INC. (V) Fiscal Year 2016
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