Note 8—Accrued and Other Liabilities

Accrued liabilities consisted of the following:



	September 30, 2016		September 30, 2015
	(in millions)
Accrued operating expenses⁽¹⁾	$	347	$	257
Visa Europe put option (See Note 2—Acquisition of Visa Europe)⁽²⁾	—		255
Accrued interest expenses⁽³⁾	145		—
Accrued income taxes (See Note 19—Income Taxes)	153		75
Other⁽⁵⁾	483		262
Total	$	1,128	$	849

Other non-current liabilities consisted of the following:



	September 30, 2016		September 30, 2015
	(in millions)
Accrued income taxes (See Note 19—Income Taxes)⁽⁴⁾	$	911	$	752
Employee benefits	137		77
Other	114		68
Total	$	1,162	$	897


⁽¹⁾	Increase includes accrued operating expenses assumed from the Visa Europe acquisition.


⁽²⁾	On June 21, 2016, the Company acquired 100% of the share capital of Visa Europe, effected by the Visa Europe board of directors' exercise of the amended Visa Europe put option. Therefore, the Visa Europe put option was contractually terminated as a result of the transaction. See Note 2—Acquisition of Visa Europe.


⁽³⁾	Interest expenses accrued as at September 30, 2016 is related to the issuance of long-term debt in December 2015. See Note 9—Debt.


⁽⁴⁾	The increase in non-current accrued income taxes is primarily related to the increase in liabilities for uncertain tax positions.

⁽⁵⁾

Current year balance includes amounts assumed from the Visa Europe acquisition related to uncertainties around foreign non-income tax obligations. Prior year current deferred tax liabilities have been retroactively reclassed to non-current deferred tax liabilities on the consolidated balance sheets upon adoption of FASB issued ASU 2015-17. See Note 1—Summary of Significant Accounting Policies and Note 19—Income Taxes.