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: 2018 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Sept 30, 2018 10-K (Filed: Nov 16, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 30, 2018 | Sept 30, 2017 | Sept 30, 2016 | |
| Operating Revenues | |||
| Service revenues | $ 8,918 | 7,975 | 6,747 |
| Data processing revenues | 9,027 | 7,786 | 6,272 |
| International transaction revenues | 7,211 | 6,321 | 4,649 |
| Other revenue, net | 944 | 841 | 823 |
| Client incentives | (5,491) | (4,565) | (3,409) |
| Net operating revenues | 20,609 | 18,358 | 15,082 |
| Operating Expenses | |||
| Personnel | 3,170 | 2,628 | 2,226 [1] |
| Marketing | 988 | 922 | 869 |
| Network and processing | 686 | 620 | 538 |
| Professional fees | 446 | 409 | 389 |
| Depreciation and amortization | 613 | 556 | 502 |
| General and administrative | 1,145 | 1,060 | 796 |
| Litigation provision (Note 17) | 607 | 19 | 2 |
| Visa Europe Framework Agreement loss | 0 | 0 | 1,877 |
| Total operating expenses | 7,655 | 6,214 | 7,199 |
| Operating income | 12,954 | 12,144 | 7,883 |
| Non-operating Income (Expense) | |||
| Interest expense | (612) | (563) | (427) |
| Other | 464 | 113 | 556 |
| Total non-operating income (expense) | (148) | (450) | 129 |
| Income before income taxes | 12,806 | 11,694 | 8,012 |
| Income tax provision (Note 16) | 2,505 | 4,995 | 2,021 |
| Net income | 10,301 | 6,699 | 5,991 |
| Earnings Per Share [Abstract] | |||
| Class of Stock | |||
| Class A common stock | |||
| Basic earnings per share (Note 12) (in dollars per share) | 4.43 | 2.80 | 2.49 |
| Basic weighted-average shares outstanding (Note 12) (in shares) | 1,792 | 1,845 | 1,906 |
| Diluted earnings per share (Note 12) (in dollars per share) | 4.42 | 2.80 | 2.48 |
| Diluted weighted-average shares outstanding (Note 12) (in shares) | 2,329 [2] | 2,395 | 2,414 |
| Class B common stock | |||
| Basic earnings per share (Note 12) (in dollars per share) | 7.28 | 4.62 | 4.10 |
| Basic weighted-average shares outstanding (Note 12) (in shares) | 245 | 245 | 245 |
| Diluted earnings per share (Note 12) (in dollars per share) | 7.27 | 4.61 | 4.09 |
| Diluted weighted-average shares outstanding (Note 12) (in shares) | 245 | 245 | 245 |
| Class C common stock | |||
| Basic earnings per share (Note 12) (in dollars per share) | 17.72 | 11.21 | 9.94 |
| Basic weighted-average shares outstanding (Note 12) (in shares) | 12 | 14 | 19 |
| Diluted earnings per share (Note 12) (in dollars per share) | 17.69 [3] | 11.19 | 9.93 |
| Diluted weighted-average shares outstanding (Note 12) (in shares) | 12 | 14 | 19 |
| [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 3 million common stock equivalents for fiscal 2018, and 5 million common stock equivalents for fiscal 2017 and 2016, because their effect would have been dilutive. The computation excludes 1 million of common stock equivalents for fiscal 2018, and 2 million of common stock equivalents for fiscal 2017 and | |||
| [3] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers. | |||
| [1] The Company did not include Visa Europes financial results in the Companys consolidated statements of operations from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. The Companys consolidated statement of operations for the year ended September 30, 2016 includes Visa Europes financial results for the three months ended September 30, 2016. | |||
| External Links | |
| VISA INC. (V) Fiscal Year 2018 | |
| 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 |