XML 49 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
Visa Europe Estimated Purchase Price Allocation (Details) - USD ($)
$ in Millions
Jun. 30, 2016
Jun. 21, 2016
Sep. 30, 2015
Business Acquisition [Line Items]      
Goodwill $ 15,044   $ 11,825
Visa Europe      
Business Acquisition [Line Items]      
Current assets(1) [1]   $ 4,452  
Non-current assets(2) [2]   258  
Current liabilities(3) [3]   (2,745)  
Non-current liabilities(2) [2]   (2,599)  
Tangible assets and liabilities   634  
Intangible assets — customer relationships and reacquired rights(2) [2]   16,137  
Goodwill [4]   3,281  
Fair value of net assets acquired   18,784  
Net deferred tax liabilities   $ 2,400  
[1] Current assets are largely comprised of cash and cash equivalents and settlement receivable.
[2] Intangible assets consist of customer relationships and reacquired rights, which have been valued as a single composite intangible asset as they are inextricably linked. These intangibles are considered indefinite-lived assets as the associated customer relationships have historically not experienced significant attrition, and the reacquired rights are based on the Framework Agreement, which has a perpetual term. Non-current assets and liabilities include deferred tax assets and liabilities that result in net deferred tax liabilities of $2.4 billion, which are primarily related to these indefinite-lived assets, and are not expected to be realized in the foreseeable future.
[3] Current liabilities assumed mainly include settlement payable, client incentives liabilities and accrued liabilities.
[4] The excess of purchase consideration over net assets acquired was recorded as goodwill, which represents the value that is expected from increased scale and synergies as a result of the integration of both businesses.