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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
[1]
Sep. 30, 2015
Operating Revenues      
Service revenues $ 7,975 $ 6,747 $ 6,302
Data processing revenues 7,786 6,272 5,552
International transaction revenues 6,321 4,649 4,064
Other revenues 841 823 823
Client incentives (4,565) (3,409) (2,861)
Net operating revenues 18,358 15,082 13,880
Operating Expenses      
Personnel 2,628 2,226 2,079
Marketing 922 869 872
Network and processing 620 538 474
Professional fees 409 389 336
Depreciation and amortization 556 502 494
General and administrative 1,060 796 547
Litigation provision (Note 19) 19 2 14
Visa Europe Framework Agreement loss 0 1,877 0
Total operating expenses 6,214 7,199 4,816
Operating income 12,144 7,883 9,064
Non-operating (Expense) Income      
Interest expense (563) (427) (3)
Other (Note 4 and Note 11) 113 556 (66)
Total non-operating (expense) income (450) 129 (69)
Income before income taxes 11,694 8,012 8,995
Income tax provision (Note 18) 4,995 2,021 2,667
Net income $ 6,699 $ 5,991 $ 6,328
Class A common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (Note 15) [2] $ 2.80 $ 2.49 $ 2.58
Basic weighted-average shares outstanding (Note 15) 1,845 1,906 1,954
Diluted earnings per share (Note 15) [2] $ 2.80 $ 2.48 $ 2.58
Diluted weighted-average shares outstanding (Note 15) [2],[3],[4] 2,395 2,414 2,457
Class B common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (Note 15) [2] $ 4.62 $ 4.10 $ 4.26
Basic weighted-average shares outstanding (Note 15) 245 245 245
Diluted earnings per share (Note 15) [2] $ 4.61 $ 4.09 $ 4.25
Diluted weighted-average shares outstanding (Note 15) [2],[3] 245 [5] 245 [4] 245 [4]
Class C common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (Note 15) [2] $ 11.21 $ 9.94 $ 10.33
Basic weighted-average shares outstanding (Note 15) 14 19 22
Diluted earnings per share (Note 15) [2] $ 11.19 $ 9.93 $ 10.30
Diluted weighted-average shares outstanding (Note 15) [2],[3] 14 [5] 19 [4] 22 [4]
[1] See Note 2—Visa Europe.
[2] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers. The number of shares and per share amounts for the prior periods presented have been retroactively adjusted to reflect the four-for-one stock split effected in the second quarter of fiscal 2015. See Note 13—Stockholders' Equity.
[3] Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 405 million for fiscal 2017, 2016 and 2015. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 58 million, 75 million and 87 million for fiscal 2017, 2016 and 2015, respectively. The weighted-average number of shares of preferred stock, included within participating securities, was 33 million of as-converted UK&I preferred stock, and 44 million of as-converted Europe preferred stock for fiscal 2017.
[4] Weighted-average diluted shares outstanding are calculated on an as-converted basis, and include incremental common stock equivalents, as calculated under the treasury stock method. The computation includes 5 million common stock equivalents for fiscal 2017 and 2016 and 6 million common stock equivalents for fiscal 2015, because their effect would have been dilutive. The computation excludes 2 million of common stock equivalents for fiscal 2017, 2016 and 2015, because their effect would have been anti-dilutive.
[5] Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company's UK&I and Europe preferred stock, restricted stock awards, restricted stock units and earned performance-based shares. UK&I and Europe preferred stock were issued as part of the purchase price consideration in connection with the Visa Europe acquisition and are convertible into a number of shares of class A common stock or class A equivalent preferred stock upon certain conditions. Participating securities' income is allocated based on the weighted-average number of shares of as-converted stock. See Note 2—Visa Europe and Note 13—Stockholders' Equity.