XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Mar. 31, 2011
Operating Revenues        
Service revenues $ 1,241 $ 1,093 $ 2,392 $ 2,101
Data processing revenues 922 823 1,873 1,667
International transaction revenues 733 624 1,481 1,254
Other revenues 179 156 357 317
Client incentives (497) (451) (978) (856)
Total operating revenues 2,578 2,245 5,125 4,483
Operating Expenses        
Personnel 431 351 820 708
Network and processing 103 80 201 160
Marketing 170 183 360 380
Professional fees 82 77 152 138
Depreciation and amortization 80 70 160 137
General and administrative 106 95 208 205
Litigation provision (Note 11)    6    6
Total operating expenses 972 862 1,901 1,734
Operating income 1,606 1,383 3,224 2,749
Other Income (Expense)        
Interest expense (7) (12) (17) (8)
Investment income, net 9 9 19 19
Other 1 (3)    (1)
Total other income (expense) 3 (6) 2 10
Income before income taxes 1,609 1,377 3,226 2,759
Income tax provision 317 497 907 995
Net income including non-controlling interest 1,292 880 2,319 1,764
Loss attributable to non-controlling interest    1 2 1
Net income attributable to Visa Inc. 1,292 881 2,321 1,765
Class A common stock
       
Other Income (Expense)        
Net income attributable to Visa Inc. 1,006 625 1,780 1,234
Earnings Per Share        
Basic earnings per share (Note 8) $ 1.92 $ 1.24 [1] $ 3.41 [1] $ 2.47 [1]
Basic weighted-average shares outstanding (Note 8) 524 505 522 499
Diluted earnings per share (Note 8) $ 1.91 $ 1.23 $ 3.40 $ 2.46
Diluted weighted-average shares outstanding (Note 8) 676 714 [2] 683 [2] 717 [2]
Class B common stock
       
Other Income (Expense)        
Net income attributable to Visa Inc. 200 155 [3] 382 [3] 310 [3]
Earnings Per Share        
Basic earnings per share (Note 8) $ 0.82 $ 0.63 [1] $ 1.56 [1] $ 1.26 [1]
Basic weighted-average shares outstanding (Note 8) 245 245 245 245
Diluted earnings per share (Note 8) $ 0.81 $ 0.63 $ 1.55 $ 1.26
Diluted weighted-average shares outstanding (Note 8) 245 245 245 245
Class C common stock
       
Other Income (Expense)        
Net income attributable to Visa Inc. $ 81 $ 98 $ 151 $ 215
Earnings Per Share        
Basic earnings per share (Note 8) $ 1.92 $ 1.24 [1] $ 3.41 [1] $ 2.47 [1]
Basic weighted-average shares outstanding (Note 8) 42 80 44 87
Diluted earnings per share (Note 8) $ 1.91 $ 1.23 $ 3.40 $ 2.46
Diluted weighted-average shares outstanding (Note 8) 42 80 44 87
[1] Earnings per share calculated based on whole numbers, not rounded numbers.
[2] The computation of weighted-average dilutive shares outstanding included the effect of 3 million and 2 million dilutive shares of outstanding stock awards for the three and six months ended March 31, 2012 and March 31, 2011, respectively. The computation of weighted-average dilutive shares outstanding excluded stock options to purchase less than 1 million shares of common stock for the three and six months ended March 31, 2012 and 2 million for the three and six months ended March 31, 2011 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 number of shares of as-converted class B common stock used in the income allocation were 104 million and 112 million for the three and six months ended March 31, 2012 and 125 million and 126 million for the three and six months ended March 31, 2011, respectively.