Property, Equipment and Technology, Net

12 Months Ended

Sep. 30, 2011

Note 7—Property, Equipment and Technology, Net

Property, equipment and technology, net consisted of the following:


	September 30, 2011			September 30, 2010
	(in millions)
Land	$	71		$	71
Buildings and building improvements		719			648
Furniture, equipment and leasehold improvements		755			687
Construction-in-progress		89			75
Technology		1,115			908

Total property, equipment and technology		2,749			2,389
Accumulated depreciation and amortization		(1,208	)		(1,032	)

Property, equipment and technology, net	$	1,541		$	1,357

At September 30, 2011, property, equipment and technology, net included $73 million in net assets acquired as part of the Fundamo and PlaySpan acquisitions made in fiscal 2011, which are primarily comprised of technology assets. See Note 5—Acquisitions. Technology consists of both purchased and internally developed software. Internally developed software primarily represents software utilized by the VisaNet electronic payment network. At September 30, 2011 and 2010, accumulated amortization for technology was $677 million and $577 million, respectively.

At September 30, 2011, estimated future amortization expense on technology placed in service was as follows:


Fiscal (in millions)	2012		2013		2014		2015		2016 and thereafter		Total
Estimated future amortization expense	$	109	$	103	$	87	$	74	$	65	$	438

Depreciation and amortization expense related to property, equipment and technology was $225 million, $265 million and $226 million for fiscal 2011, 2010 and 2009, respectively. Included in those amounts was amortization expense on technology of $102 million, $137 million and $128 million for fiscal 2011, 2010 and 2009, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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