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Visa Europe (Tables)
 9 Months Ended
Jun. 30, 2017
European Activities [Abstract]  
Schedule of Purchase Price Allocation
The following table summarizes the final purchase price allocation:
 
Preliminary Purchase Price Allocation
 
Measurement Period Adjustments
 
Final
Purchase Price Allocation
 
(in millions)
Current assets(1)
$
4,457

 
$
—

 
$
4,457

Non-current assets(2)
258

 
(46
)
 
212

Current liabilities(3)
(2,731
)
 
(36
)
 
(2,767
)
Non-current liabilities(2)
(2,605
)
 
607

 
(1,998
)
Tangible assets and liabilities
(621
)
 
525

 
(96
)
Intangible assets — customer relationships and reacquired rights(2)
16,137

 
(232
)
 
15,905

Goodwill(4)
3,268

 
(293
)
 
2,975

Fair value of net assets acquired
$
18,784

 
$
—

 
$
18,784


(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 $1.7 billion based on the final valuation. In February 2017, the Company completed a legal entity reorganization, resulting in the elimination of most of these deferred tax assets and liabilities. See Note 12—Income Taxes.
(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.
Schedule of Pro Forma Information
The following table presents unaudited supplemental pro forma information for the three and nine months ended June 30, 2016, as if the acquisition and related issuance of senior notes had occurred on October 1, 2014. The pro forma financial information is not necessarily indicative of the Company's consolidated results of operations that would have been realized had the acquisition been completed on October 1, 2014, nor does it purport to project the future results of operations of the combined company or reflect any reorganizations, or cost or other operating synergies that may occur subsequent to the Closing. The actual results of operations of the combined company may differ significantly from the pro forma results presented here due to many factors.
 
Consolidated Actual Results
 
Unaudited Pro Forma Consolidated Results
 
Consolidated Actual Results
 
Unaudited Pro Forma Consolidated Results
 
Three Months Ended June 30,
 
Nine Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(in millions, except per share data)
Net operating revenues
$
4,565

 
$
3,930

 
$
13,503

 
$
11,829

Net income
$
2,059

 
$
1,686

 
$
4,559

 
$
5,141

Diluted earnings per share
$
0.86

 
$
0.68

 
$
1.90

 
$
2.07