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136 | V | 2016 | The talents and efforts of our employees, particularly our key management, are vital to our success. Our management team has significant industry experience and would be difficult to replace. We may be unable to retain them or to attract other highly qualified employees, particularly if we do not offer employment terms... | [-0.025955213233828545, -0.02511209063231945, 0.00445882324129343, -0.03688986971974373, -0.03053401969373226, 0.03486637398600578, -0.006008871830999851, 0.03473666310310364, 0.014761135913431644, -0.0077956439927220345, -0.019015664234757423, 0.008243147283792496, -0.003414647653698921, 0.006608786527067423, -0.02333... |
137 | V | 2016 | The conversions of our class B and class C common stock or series B and series C preferred stock into shares of class A common stock would result in voting dilution to, and could impact the market price of, our existing class A common stock. | [-0.01299873273819685, -0.015845075249671936, 0.004364609718322754, -0.030719507485628128, -0.022364115342497826, 0.009260449558496475, -0.03405116870999336, 0.007529033813625574, -0.006151771638542414, -0.005977974273264408, -0.01644844561815262, 0.041186701506376266, -0.0011059087701141834, 0.013143016956746578, 0.01... |
138 | V | 2016 | The market price of our class A common stock could fall as a result of many factors. Under our U.S. retrospective responsibility plan, upon final resolution of our U.S. covered litigation, all class B common stock will become convertible into class A common stock. In connection with the acquisition of Visa Europe, we i... | [-0.0020204794127494097, -0.016500582918524742, 0.010614251717925072, -0.0423223078250885, -0.02271018922328949, 0.005488969385623932, -0.03383629769086838, 0.002301662927493453, -0.009644421748816967, -0.006650744937360287, -0.022090574726462364, 0.028232833370566368, -0.002699023811146617, 0.004650470335036516, 0.012... |
139 | V | 2016 | Holders of our class B and C common stock and series B and series C preferred stock may have different interests than our class A common stockholders concerning certain significant transactions. | [-0.023987431079149246, -0.016690369695425034, 0.01889275573194027, -0.03330113738775253, -0.025685656815767288, 0.014342042617499828, -0.021081874147057533, 0.008836078457534313, 0.00032919697696343064, -0.01926424354314804, -0.00586750078946352, 0.020192960277199745, -0.005937154870480299, -0.0025224615819752216, 0.0... |
140 | V | 2016 | Although their voting rights are limited, holders of our class B and C common stock and, in certain specified circumstances, holders of our series B and series C preferred stock, can vote on certain significant transactions. With respect to our class B and C common stock, these transactions include a proposed consolida... | [-0.019103525206446648, -0.025234859436750412, -0.0005936383386142552, -0.04503451660275459, -0.037377044558525085, 0.01402977854013443, -0.027738263830542564, -0.005682863295078278, -0.02374888025224209, -0.02532856911420822, -0.008641432970762253, 0.018313679844141006, -0.014699137769639492, -0.003110849065706134, 0.... |
141 | V | 2016 | Delaware law, provisions in our certificate of incorporation and bylaws, and our capital structure could make a merger, takeover attempt or change in control difficult. | [-0.011946244165301323, -0.017788376659154892, 0.0015284839319065213, -0.03704383596777916, -0.025084493681788445, 0.01417306624352932, -0.030887329950928688, 0.012522597797214985, -0.012051035650074482, -0.010177886113524437, 0.012581543996930122, 0.0031470232643187046, 0.00922821182757616, 0.02474392019212246, 0.0129... |
142 | V | 2016 | Provisions contained in our certificate of incorporation and bylaws, and our capital structure could delay or prevent a merger, takeover attempt or change in control that our stockholders may consider favorable. For example, except for limited exceptions: | [-0.01140018180012703, -0.017481138929724693, 0.005913117900490761, -0.03416181355714798, -0.02827451564371586, 0.008140220306813717, -0.02486608177423477, 0.008366158232092857, -0.004599450621753931, -0.010302769020199776, 0.007159003987908363, 0.005470925010740757, 0.010193027555942535, 0.013298059813678265, 0.001358... |
143 | V | 2016 | •only the board of directors, Chairman or CEO may call a special meeting of stockholders. | [-0.025452211499214172, -0.020498936995863914, -0.009563630446791649, -0.05288573354482651, -0.03700985386967659, -0.008141151629388332, -0.02007981389760971, -0.01402157824486494, 0.013818366453051567, -0.006213819608092308, 2.2288248146651313e-05, 0.02347090281546116, -0.0004786578065250069, -0.0011089303297922015, -... |
144 | V | 2016 | Not applicable. | [-0.01060420647263527, -0.01894407533109188, 0.010038122534751892, -0.019523324444890022, -0.030805516988039017, 0.0015131235122680664, -0.016021501272916794, -0.012901455163955688, -0.004660321865230799, -0.03283288702368736, 0.011677133850753307, 0.0242889653891325, 0.006095279473811388, -0.001181536354124546, -0.024... |
145 | V | 2016 | ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations | [-0.025154059752821922, 0.004889030009508133, -0.02398069202899933, -0.03170536085963249, -0.009759726002812386, 0.008030232042074203, -0.025985194370150566, -0.00793245155364275, 0.0013834426645189524, -0.005371821578592062, -0.012833703309297562, 0.03639882802963257, -0.011281436309218407, 0.008586359210312366, -0.00... |
146 | V | 2016 | This management’s discussion and analysis provides a review of the results of operations, financial condition and liquidity and capital resources of Visa Inc. and its subsidiaries (“Visa,” “we,” "us," “our” and the “Company”) on a historical basis and outlines the factors that have affected recent earnings, as well as ... | [-0.028831856325268745, -0.018115930259227753, 0.008296200074255466, -0.029241545125842094, 0.0002996650291606784, 0.0019060135819017887, -0.033466462045907974, 0.005895679350942373, -0.008929938077926636, -0.020446036010980606, -0.011829767376184464, 0.011573711410164833, -0.020766105502843857, -0.005338758695870638, ... |
147 | V | 2016 | Visa is a global payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities in more than 200 countries and territories to fast, secure and reliable electronic payments. We enable global commerce through the transfer of value and informa... | [-0.010984791442751884, -0.010905859060585499, 0.004755691159516573, -0.031520429998636246, -0.0039367652498185635, 0.0035289465449750423, -0.05133252218365669, -0.01277393102645874, 0.00021953138639219105, -0.04136069864034653, -0.001523564220406115, -0.0038907211273908615, -0.008393170312047005, -0.026942338794469833... |
148 | V | 2016 | Overall economic conditions. Our business is affected by overall economic conditions and consumer spending. Our business performance during fiscal 2016 reflects the impacts of continued uneven and tepid economic growth. | [-0.022068187594413757, -0.026197155937552452, 0.009206832386553288, -0.0340319387614727, -0.02854374423623085, -0.0070012956857681274, 0.004016769118607044, 0.01524641178548336, -0.002118981909006834, -0.0294413473457098, -0.007809137925505638, 0.014233403839170933, 0.008475927636027336, -0.01425904966890812, -0.00875... |
149 | V | 2016 | Visa Europe acquisition. On June 21, 2016, we acquired 100% of the share capital of Visa Europe. The purchase price consisted of: (a) at the closing of the transaction (Closing), up-front cash consideration of €12.2 billion ($13.9 billion) and preferred stock convertible upon certain conditions into class A common stoc... | [-0.0098495502024889, -0.01612219214439392, 0.018589476123452187, -0.057230520993471146, -0.009183775633573532, -0.000388368614949286, -0.025012243539094925, -0.0004671030037570745, 0.0006127412198111415, -0.02263634093105793, -0.0007987665012478828, 0.0216311514377594, 0.00546979671344161, -0.017349306493997574, 0.023... |
150 | V | 2016 | Debt issuance. In December 2015, we issued fixed-rate senior notes in an aggregate principal amount of $16.0 billion, with maturities ranging between 2 and 30 years. Interest on these notes, at a rate ranging between 1.20% and 4.30%, is payable semi-annually on June 14 and December 14, commencing June 14, 2016. The net... | [-0.029483459889888763, -0.01569407247006893, 0.005984751041978598, -0.04054627940058708, -0.011721632443368435, -0.010573603212833405, -0.04889557883143425, -0.0023286715149879456, -0.012660928070545197, -0.02118634432554245, 0.010736675933003426, 0.021408122032880783, -0.024069461971521378, -0.006330464035272598, 0.0... |
151 | V | 2016 | Financial highlights. Our financial results for fiscal 2016 include the impact of several significant one-time items. Our as-reported U.S. GAAP and adjusted non-GAAP net income and diluted earnings per share are shown in the table below. | [-0.017981549724936485, -0.006457889452576637, -0.0031886636279523373, -0.026192478835582733, -0.007966019213199615, -0.013521608896553516, -0.012529078871011734, 0.006825254764407873, 0.0006279846420511603, -0.011201409623026848, 0.013792299665510654, 0.025058157742023468, -0.0002110737405018881, -0.003256336087360978... |
152 | V | 2016 | (1) Figures in the tables may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.009708119556307793, -0.017973141744732857, 0.01580849289894104, -0.028468405827879906, -0.01092163473367691, -0.01954743079841137, -0.03403089568018913, -0.025555970147252083, -0.00832405686378479, -0.023233892396092415, 0.016661232337355614, 0.02528046816587448, -0.01656939834356308, 0.011000349186360836, -0.00580... |
153 | V | 2016 | (2) The per share amounts for the prior periods presented have been retroactively adjusted to reflect the four-for-one stock split effected in the fiscal second quarter of 2015. | [-0.022136617451906204, 0.00636362936347723, -0.004581553861498833, -0.026802415028214455, -0.00946768093854189, 0.0007897834293544292, -0.01430844608694315, -0.012876304797828197, -0.008262350223958492, -0.008294750936329365, 0.015397132374346256, 0.024378791451454163, 0.0006804288132116199, 0.0023944613058120012, 0.0... |
154 | V | 2016 | (3) Adjusted net income and diluted earnings per share in fiscal 2016, 2015 and 2014 exclude the impact of certain significant items that we believe are not indicative of our operating performance, as they are either non-recurring, have no cash impact or are covered by the U.S. retrospective responsibility plan. For a ... | [-0.020251788198947906, -0.00866081565618515, -0.009036809206008911, -0.0321020670235157, -0.0116169024258852, -0.005685281008481979, -0.006184444762766361, -0.006122859660536051, 0.0009537593577988446, 0.006722504738718271, 0.01745128445327282, 0.02510080859065056, -0.002712987596169114, 0.0018945534247905016, -0.0113... |
155 | V | 2016 | We recorded net operating revenues of $15.1 billion for fiscal 2016, an increase of 9% over the prior year driven by continued growth in processed transactions, nominal payments volume as well as the fiscal fourth quarter operating revenues of Visa Europe. The effect of exchange rate movements, as partially mitigated b... | [-0.01749439910054207, -0.02013581432402134, 0.011567805893719196, -0.03390037640929222, 0.006683179177343845, -0.0028753597289323807, -0.011647447012364864, -0.008415363729000092, -0.022538308054208755, -0.027900779619812965, 0.012450490146875381, 0.007406581658869982, 0.0035506461281329393, -0.02275068312883377, 0.00... |
156 | V | 2016 | Total operating expenses for fiscal 2016 were $7.2 billion, compared to $4.8 billion in fiscal 2015. The increase over the prior year was primarily due to the $1.9 billion loss resulting from the effective settlement of the Framework Agreement between us and Visa Europe upon consummation of the transaction, combined wi... | [-0.011838128790259361, -0.009629378095269203, 0.0035197928082197905, -0.047223348170518875, -0.02523917518556118, -0.004178543109446764, -0.00537010608240962, -0.004969689063727856, -0.0004018295730929822, -0.013859587721526623, 0.0012182035716250539, 0.01061104517430067, 0.002029531868174672, -0.018264172598719597, 0... |
157 | V | 2016 | During fiscal 2015 we recognized a tax benefit of $296 million resulting from the resolution of uncertain tax positions with taxing authorities. Of the $296 million benefit, $239 million relates to prior fiscal years. Our financial results for the year ended September 30, 2014 reflect a one-time tax benefit of $191 mil... | [-0.023585902526974678, -0.016620589420199394, 0.004629464354366064, -0.032539449632167816, -0.006971810478717089, -0.003151284297928214, -0.01382666639983654, -0.004782155156135559, 0.0017072164919227362, -0.005360432434827089, 0.028770901262760162, 0.014268496073782444, -0.008160851895809174, 0.022611277177929878, -0... |
158 | V | 2016 | Adjusted financial results. Our financial results for fiscal 2016, 2015 and 2014 reflect the impact of certain significant items that we do not believe are indicative of our ongoing operating performance in the prior or future years, as they are either non-recurring, have no cash impact or are covered by the U.S. retro... | [-0.030588453635573387, -0.006207853090018034, -0.013290615752339363, -0.023535743355751038, -0.01200830563902855, -0.012328882701694965, -0.0025980148930102587, -0.008835921995341778, -0.004691787995398045, 0.0027349283918738365, 0.01768520101904869, 0.02317509427666664, -0.014105417765676975, -0.00040907046059146523,... |
159 | V | 2016 | •Severance cost. In the fiscal fourth quarter, we recorded a $110 million charge for severance costs related to personnel reductions including planned reductions at Visa Europe. Although we routinely record severance expenses, these charges are larger than any past quarterly accrual due to the acquisition and integrati... | [-0.009111159481108189, -0.017029346898198128, 0.028762422502040863, -0.045332930982112885, 0.0066072288900613785, 0.007315146271139383, -0.015652840957045555, -0.012218129821121693, -0.013437321409583092, -0.015443086624145508, 0.005512578878551722, 0.0241609588265419, 0.008652323856949806, -0.005889479536563158, 0.01... |
160 | V | 2016 | •Remeasurement of deferred tax liability. In September 2016, we recorded a non-cash, non-recurring $88 million gain upon the remeasurement of a deferred tax liability, recorded upon the acquisition of Visa Europe, to reflect a tax rate change in the United Kingdom. | [-0.021846963092684746, -0.027341099455952644, 0.005662587936967611, -0.04346068575978279, 8.832608727971092e-05, 0.0005920125404372811, -0.029595768079161644, -0.007619225885719061, -0.008150498382747173, -0.019540462642908096, 0.014771968126296997, 0.004363561514765024, -0.006229494698345661, -0.011292780749499798, 0... |
161 | V | 2016 | •Acquisition-related costs. During fiscal 2016, we incurred $152 million of non-recurring acquisition costs in operating expense as a result of the Visa Europe transaction. This amount is comprised of $60 million of transaction expenses recorded in professional fees, and $92 million of U.K. stamp duty recorded in gener... | [-0.0035717799328267574, -0.002829019445925951, 0.027607833966612816, -0.0439322404563427, -0.015318822115659714, 0.0003981114423368126, -0.011955994181334972, -0.004567568656057119, -0.0004383102641440928, -0.007045613136142492, -0.00020425912225618958, 0.007809595204889774, 0.0068693095818161964, -0.01397369056940078... |
162 | V | 2016 | federal and state tax rates, the adjustment to net income was an increase of $96 million. See Note 2—Acquisition of Visa Europe to our consolidated financial statements. | [-0.014623837545514107, -0.011683456599712372, 0.01811065897345543, -0.05006452277302742, -0.006462981458753347, -0.00411458034068346, -0.032005906105041504, -0.025877946987748146, -0.008795118890702724, -0.031407423317432404, 0.011689961887896061, 0.012737310491502285, 0.01046697236597538, -0.005470928270369768, 0.007... |
163 | V | 2016 | •Visa Europe Framework Agreement loss. Upon consummation of the transaction, on June 21, 2016, we recorded a non-recurring loss of $1.9 billion, before tax, in operating expense resulting from the effective settlement of the Framework Agreement between us and Visa Europe. Net of related tax benefit of $693 million, det... | [-0.002921593841165304, -0.0339004211127758, 0.017175329849123955, -0.04661307856440544, -0.013692591339349747, -0.0018224786035716534, -0.015705429017543793, -0.00582663482055068, 0.006402676925063133, -0.01212337240576744, 0.008607528172433376, 0.01091831922531128, 0.005042025353759527, -0.009713265113532543, 0.01475... |
164 | V | 2016 | •Net gains on currency forward contracts. During fiscal 2016, we entered into currency forward contracts to mitigate a portion of our foreign currency exchange rate risk associated with the upfront cash consideration paid in the Visa Europe acquisition. As a result, we recorded non-recurring, net gains of $74 million, ... | [-0.004255980718880892, -0.013466783799231052, 0.01076415367424488, -0.01923637092113495, 0.002581740729510784, -0.006173655856400728, -0.029146015644073486, -0.012413552962243557, -0.001969011966139078, 0.0022521920036524534, 0.02435017190873623, 0.03362390398979187, -0.011135103181004524, -0.0035869472194463015, 0.00... |
165 | V | 2016 | •Foreign exchange gain on euro deposits. During fiscal 2016, we recorded a non-recurring foreign exchange gain of $145 million, before tax, in other non-operating income as a result of holding euro-denominated bank balances for a short period in advance of the Closing. Net of related tax expense of $54 million, determi... | [-0.018672924488782883, -0.0197029709815979, 0.02995062991976738, -0.026649193838238716, -0.02511732652783394, -0.0130868935957551, -0.007302776910364628, -0.005047895945608616, -0.001999019645154476, -0.009633591398596764, 0.014499908313155174, 0.016256272792816162, -0.007514068856835365, 0.009422299452126026, -0.0016... |
166 | V | 2016 | •Revaluation of Visa Europe put option. During the first quarter of fiscal 2016 and the third quarter of fiscal 2015, we recorded a decrease of $255 million and an increase of $110 million, respectively, in the fair value of the Visa Europe put option, resulting in the recognition of non-cash income and expense in othe... | [-0.014422944746911526, -0.04010475426912308, 0.03206270933151245, -0.03348654508590698, -0.017099231481552124, 0.01222127117216587, -0.04392801970243454, -0.02469303086400032, -0.009426331147551537, -0.010092106647789478, 0.01816711015999317, 0.009123106487095356, -0.022544091567397118, -0.009564759209752083, 0.003826... |
167 | V | 2016 | •Litigation provision. During fiscal 2014, we recorded a litigation provision of $450 million and related tax benefits of $167 million associated with the U.S. interchange multidistrict litigation. The tax impact is determined by applying applicable federal and state tax rates to the litigation provision. Monetary liab... | [-0.007080965209752321, -0.014748124405741692, 0.007400707341730595, -0.0381026528775692, -0.010791311040520668, 0.002804408548399806, -0.014121961779892445, 0.008326628245413303, -0.006627996452152729, -0.012010329402983189, 0.017186161130666733, 0.021116329357028008, 0.003047546138986945, 0.0006994368159212172, -0.00... |
168 | V | 2016 | Adjusted operating expenses, operating margin, non-operating income, income taxes, net income and diluted earnings per share are non-GAAP financial measures and should not be relied upon as substitutes for measures calculated in accordance with U.S. GAAP. The following tables reconcile our as-reported financial measure... | [-0.02265104465186596, -0.008935732766985893, -0.007007017266005278, -0.034080471843481064, -0.011890499852597713, -0.003935359418392181, -0.006468016188591719, -0.003219396574422717, -0.014014034532010555, -0.016351871192455292, 0.027534525841474533, 0.029015157371759415, -0.003922371193766594, 0.004341233521699905, -... |
169 | V | 2016 | (1) Operating margin is calculated as operating income divided by net operating revenues. | [0.006599762011319399, -0.006122519262135029, 0.00787450186908245, -0.011642205528914928, 0.00751029048115015, -0.011146124452352524, 0.0016405212227255106, -0.00413819495588541, -0.018524546176195145, -0.014467984437942505, 0.030367694795131683, 0.04669441282749176, -0.013538616709411144, 0.00753540825098753, -0.00961... |
170 | V | 2016 | (2) Figures in the table may not recalculate exactly due to rounding. Operating margin and diluted earnings per share figures are calculated based on unrounded numbers. | [-0.025207318365573883, -0.017242418602108955, -0.0012154439464211464, -0.028673643246293068, -0.015993520617485046, 0.00463238637894392, -0.03280264884233475, -0.007913925684988499, -0.01852954551577568, -0.016210166737437248, 0.020288195461034775, 0.03863932937383652, -0.013776092790067196, 0.00019404490012675524, -0... |
171 | V | 2016 | (3) The per share amounts for the prior periods presented have been retroactively adjusted to reflect the four-for-one stock split effected in the fiscal second quarter of 2015. | [-0.020718613639473915, 0.006804196164011955, -0.006843263283371925, -0.026930291205644608, -0.012957273051142693, -0.004154140595346689, -0.02135671116411686, -0.009083113633096218, -0.00616284366697073, -0.008399438112974167, 0.01755417510867119, 0.02690424583852291, -0.001665237476117909, 0.0017433717148378491, 0.00... |
172 | V | 2016 | Common stock repurchases. During fiscal 2016, we repurchased 91 million shares of our class A common stock in the open market using $7.0 billion of cash on hand. As of September 30, 2016, we had remaining authorized funds of $5.8 billion. All share repurchase programs authorized prior to October 2015 have been complete... | [-0.006237864959985018, -0.009160456247627735, -0.013647341169416904, -0.03980903699994087, -0.016415433958172798, -0.0014081867411732674, -0.035663336515426636, -0.0011885096319019794, 0.015720192342996597, 0.018900280818343163, -0.003939704038202763, 0.014046462252736092, 0.005874150432646275, -0.010859936475753784, ... |
173 | V | 2016 | Nominal payments volume and transaction counts. Payments volume is the primary driver for our service revenues, and the number of processed transactions is the primary driver for our data processing revenues. | [-0.0036459797993302345, -0.009163406677544117, 0.010139232501387596, -0.014062588103115559, -0.016869759187102318, 0.009691421873867512, -0.02463626302778721, -0.003000999102368951, -0.016468733549118042, -0.03619913384318352, 0.026440873742103577, 0.034621771425008774, -0.012679053470492363, -0.017404457554221153, 0.... |
174 | V | 2016 | Nominal payments volume over the prior year posted strong growth in the U.S., driven mainly by consumer debit and credit. Nominal international payments volume was negatively impacted by the overall strengthening of the U.S. dollar. On a constant-dollar basis, which excludes the impact of exchange rate movements, our i... | [-0.0153583325445652, -0.011803163215517998, 0.006716038566082716, -0.027588116005063057, -0.014647298492491245, 0.010975778102874756, -0.012236246839165688, -0.011150304228067398, -0.02983756735920906, -0.034543320536613464, 0.028105231001973152, 0.015035134740173817, -0.0007728453492745757, -0.01579788140952587, 0.00... |
175 | V | 2016 | The following tables present nominal payments volume.(2) | [-0.015736142173409462, -0.013616773299872875, 0.009703051298856735, -0.012452136725187302, -0.02245311811566353, 0.011253643780946732, -0.0331515297293663, -0.005823185201734304, -0.029061757028102875, -0.01908108778297901, 0.02889924868941307, 0.027599189430475235, -0.02015092968940735, 0.0014270188985392451, 0.00616... |
176 | V | 2016 | The following table presents nominal and constant payments volume growth.(2) | [-0.003454729449003935, -0.015367704443633556, 0.01636907458305359, -0.01745055615901947, -0.0131179578602314, 0.010234009474515915, -0.035248253494501114, -0.004025510977953672, -0.03188364580273628, -0.027851460501551628, 0.03773165121674538, 0.03172342851758003, -0.00929272174835205, -0.003881980897858739, 0.0107079... |
177 | V | 2016 | (2) Figures in the tables may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.01410076953470707, -0.014858734793961048, 0.02007301338016987, -0.02757425606250763, -0.011918351985514164, -0.013917812146246433, -0.029273144900798798, -0.029299281537532806, -0.008311482146382332, -0.02171962708234787, 0.01721104048192501, 0.02694697491824627, -0.016753647476434708, 0.006815154105424881, 0.00056... |
178 | V | 2016 | (3) Includes consumer prepaid volume and interlink volume. | [0.007618261035531759, -0.015548300929367542, 0.016171859577298164, -0.019682766869664192, -0.010647943243384361, -0.014233405701816082, -0.02307167276740074, -0.013806403614580631, -0.012430507689714432, -0.023925676941871643, 0.014192738570272923, 0.050345588475465775, -0.015765191987156868, -0.02191944420337677, -0.... |
179 | V | 2016 | (4) Includes large, middle and small business credit and debit, as well as commercial prepaid volume. | [-0.008015279658138752, -0.010459608398377895, 0.0007079611532390118, -0.033783409744501114, -0.027689147740602493, -0.011155148968100548, -0.022469280287623405, -0.01320202648639679, -0.01173145417124033, -0.0351877398788929, 0.02685449831187725, 0.03887079283595085, -0.014281771145761013, -0.021555140614509583, -0.00... |
180 | V | 2016 | (5) Our nominal payments volume, total payments volume growth and total volume growth for the twelve months ended June 30, 2016 reflect the related nominal payments volume of Visa Europe for the three months ended June 30, 2016, which impacts our service revenues for the fourth quarter of fiscal 2016. | [-0.012342353351414204, -0.032703302800655365, 0.006125318352133036, -0.03815385699272156, -0.01467456016689539, 0.013521558605134487, -0.029820801690220833, -0.0010408128146082163, -0.020282337442040443, -0.02020372450351715, 0.025366025045514107, 0.01667920872569084, -0.009053679183125496, -0.03147168830037117, 0.005... |
181 | V | 2016 | (6) Total nominal volume is the sum of total nominal payments volume and cash volume. Total nominal payments volume is the total monetary value of transactions for goods and services that are purchased on cards carrying the Visa, Visa Electron, Interlink and V PAY brands. Cash volume generally consists of cash access t... | [-0.005499786697328091, -0.011372440494596958, 0.012484382838010788, -0.022079046815633774, -0.026380334049463272, 0.008635863661766052, -0.027405716478824615, -0.03145398572087288, -0.031347453594207764, -0.02881728485226631, 0.017684543505311012, 0.02341071516275406, -0.026686616241931915, -0.012524332851171494, -0.0... |
182 | V | 2016 | (7) Growth on a constant-dollar basis excludes the impact of foreign currency fluctuations against the U.S. dollar. | [-0.009056927636265755, -0.026189615949988365, 0.0070945932529866695, -0.019346604123711586, -0.003663653042167425, -0.02013908512890339, -0.0034498090390115976, -0.01675531640648842, -0.008075760677456856, 0.0010495658498257399, 0.006179466377943754, 0.031598616391420364, 0.004780045244842768, 0.005075653083622456, -0... |
183 | V | 2016 | The following table provides the number of transactions processed by our VisaNet system, including transactions involving Visa, Visa Electron, Interlink, V PAY and PLUS cards processed on Visa's networks during the fiscal periods presented.(1) | [-0.01766175776720047, -0.0020485897548496723, 0.009641604498028755, -0.020140836015343666, -0.01968522183597088, -0.002825814299285412, -0.014753866009414196, -0.015852700918912888, -0.004247934091836214, -0.019792424514889717, 0.011102250777184963, 0.014124046079814434, -0.02489798702299595, -0.027470868080854416, 0.... |
184 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. On occasion, previously presented information may be updated. Prior period updates are not material. Our operating revenues and related processed transactions for fiscal 2016 do not reflec... | [-0.017910096794366837, -0.020912829786539078, 0.014708070084452629, -0.03728170320391655, -0.021231703460216522, -0.0049591572023928165, -0.031940560787916183, -0.003816524986177683, -0.013698301278054714, -0.02758261375129223, 0.021617010235786438, 0.019039442762732506, -0.008124647662043571, -0.024606455117464066, 0... |
185 | V | 2016 | (2) As a result of changes in Russian National Payment System law, we transitioned the processing of Russian domestic transactions to the Russian National Payment Card System during the third quarter of fiscal 2015. The number of transactions processed by our VisaNet system does not reflect Russian domestic transaction... | [-0.00799563154578209, 0.0012931640958413482, 0.00776066305115819, -0.019697045907378197, -0.01423235796391964, 0.00018944308976642787, -0.020005861297249794, -0.02632986195385456, -0.004696006886661053, -0.019750753417611122, 0.011231478303670883, 0.00740485405549407, -0.003034446155652404, -0.021872179582715034, 0.01... |
186 | V | 2016 | (3) Visa processed transactions in fiscal 2016 include transactions processed by Visa Europe during the fiscal fourth quarter. | [-0.0032812573481351137, -0.016191257163882256, 0.010203249752521515, -0.03658462315797806, -0.02094489336013794, -0.0014329853001981974, -0.03280272334814072, -0.006375389639288187, -0.0028807437047362328, -0.0192771814763546, 0.020826710388064384, 0.007182982750236988, -0.008758774027228355, -0.023938897997140884, 0.... |
187 | V | 2016 | Our operating revenues are primarily generated from payments volume on Visa products for purchased goods and services, as well as the number of transactions processed on our network. We do not earn revenues from, or bear credit risk with respect to, interest or fees paid by account holders on Visa products. Our issuing... | [-0.01572718285024166, -0.01367923617362976, -0.004253428429365158, -0.03381738066673279, 0.0036922122817486525, 0.007259709760546684, -0.01377113163471222, -0.007115303073078394, -0.01723688840866089, -0.03843839094042778, 0.02882879413664341, 0.019586775451898575, -0.008408398367464542, -0.02608506940305233, -0.01507... |
188 | V | 2016 | Service revenues consist mainly of revenues earned for services provided in support of client usage of Visa products. Current quarter service revenues are primarily assessed using a calculation of current pricing applied to the prior quarter's payments volume. Service revenues also include assessments designed to suppo... | [0.00126761628780514, -0.003408882301300764, 0.0076089948415756226, -0.02251049317419529, -0.001913787447847426, -0.00564081035554409, -0.008683748543262482, -0.020611539483070374, -0.029011765494942665, -0.03167557343840599, 0.02087528444826603, 0.01887083426117897, -0.010338738560676575, -0.024435818195343018, -0.011... |
189 | V | 2016 | Data processing revenues are earned for authorization, clearing, settlement, network access and other maintenance and support services that facilitate transaction and information processing among our clients globally. | [-0.00534936785697937, -0.0072008175775408745, 0.0032978951930999756, -0.03639421612024307, -0.019268304109573364, 0.017363954335451126, 0.0008637343998998404, -0.005296469200402498, -0.006341215688735247, -0.02943805232644081, 0.014031345024704933, 0.010956616140902042, -0.0012761779362335801, -0.006410645321011543, 0... |
190 | V | 2016 | Data processing revenues are recognized in the same period the related transactions occur or services are rendered. | [-0.02790144830942154, -0.030505243688821793, 0.0057564289309084415, -0.01795852556824684, -0.004914024379104376, -0.0010514097521081567, 0.0008998408447951078, -0.01248928066343069, 0.007722038310021162, -0.038393210619688034, 0.04344763606786728, 0.030556298792362213, 0.006937070749700069, -0.014652728103101254, -0.0... |
191 | V | 2016 | International transaction revenues are earned for cross-border transaction processing and currency conversion activities. Cross-border transactions arise when the country of origin of the issuer is different from that of the merchant. International transaction revenues are primarily generated by cross-border payments a... | [0.0029504671692848206, -0.023219937458634377, 0.0020997091196477413, -0.004602408967912197, -0.0069723776541650295, -0.007464922033250332, -0.004935036413371563, -0.011027870699763298, -0.004580020904541016, -0.03380003944039345, 0.021057860925793648, 0.027735991403460503, -0.013893581926822662, -0.013189948163926601,... |
192 | V | 2016 | Other revenues consist mainly of license fees for use of the Visa brand, revenues earned from Visa Europe in accordance with the Visa Europe Framework Agreement prior to the completion of the Visa Europe acquisition, fees for account holder services, certification and licensing, and other activities related to our acqu... | [0.0037481957115232944, -0.020898636430501938, 0.015996647998690605, -0.05233133211731911, -0.002944778185337782, 0.009184709750115871, -0.011498812586069107, -0.003005075268447399, -0.008976113982498646, -0.03141965717077255, 0.01937328279018402, 0.0006266005802899599, -0.009908273816108704, -0.0226456206291914, 0.004... |
193 | V | 2016 | Client incentives consist of long-term contracts with financial institution clients, merchants and strategic partners for various programs designed to build payments volume, increase Visa product acceptance, win merchant routing transactions over our network and drive innovation. These incentives are primarily accounte... | [-0.017866328358650208, -0.013555828481912613, 0.013197173364460468, -0.006668325047940016, -0.011556658893823624, 0.00837525725364685, -0.022369440644979477, -0.008561225607991219, -0.021665414795279503, -0.04343709722161293, 0.01684349775314331, 0.019925273954868317, -0.020589450374245644, -0.0045761712826788425, -0.... |
194 | V | 2016 | Personnel expenses include salaries, employee benefits, incentive compensation, share-based compensation, severance charges and contractor expense. | [-0.00038332262192852795, 0.004515866283327341, 0.010746380314230919, -0.05331108719110489, -0.013126787729561329, -0.001113264705054462, -0.0025154442992061377, -0.0038626673631370068, -0.0013637099182233214, -0.010137146338820457, -0.012398219667375088, 0.03263482823967934, 0.0014594915555790067, 0.019822077825665474... |
195 | V | 2016 | Marketing expenses include expenses associated with advertising and marketing campaigns, sponsorships and other related promotions of the Visa brand. | [-0.002314606448635459, -0.019876349717378616, 0.0007521291263401508, -0.031469836831092834, -0.01823991723358631, 0.004198076203465462, -0.002545909723266959, -0.021903006359934807, -0.005072937812656164, -0.0188819020986557, -0.004956499207764864, 0.024231774732470512, -0.027794159948825836, -0.01813921332359314, -0.... |
196 | V | 2016 | Network and processing expenses mainly represent expenses for the operation of our processing network, including maintenance, equipment rental and fees for other data processing services. | [-0.002297990256920457, 0.0071982117369771, 0.021775884553790092, -0.043085698038339615, -0.01653258316218853, -0.005431024823337793, 0.010784370824694633, 0.004540958441793919, 0.009191961027681828, -0.024999544024467468, -0.013334816321730614, 0.032780345529317856, -0.0032058581709861755, -0.015017852187156677, 0.007... |
197 | V | 2016 | Professional fees mainly consist of fees for consulting, legal and other professional services. | [0.017398511990904808, 0.011635334230959415, 0.003638045396655798, -0.05877286195755005, 0.0025850955862551928, -0.008897985331714153, -0.006243975833058357, 0.005445849150419235, -0.0013734822859987617, -0.032284047454595566, 0.02055255137383938, 0.01019934844225645, 0.01675744540989399, 0.015244531445205212, 0.000263... |
198 | V | 2016 | Depreciation and amortization expenses include depreciation expense for property and equipment, as well as amortization of purchased and internally developed software. Also included in this amount is amortization of finite-lived intangible assets primarily obtained through acquisitions. | [-0.00494868028908968, -0.0013939047930762172, 0.03179885074496269, -0.025574015453457832, -0.029507501050829887, 0.02165326103568077, -0.005919321905821562, -0.007084091659635305, 0.00970004964619875, -0.0043153767473995686, 0.0016898708418011665, 0.04078603535890579, 0.0004039698396809399, 0.011119414120912552, -0.00... |
199 | V | 2016 | General and administrative expenses mainly consist of transaction costs related to the Visa Europe acquisition, product enhancements, facilities costs, travel activities, foreign exchange gains and losses and other corporate expenses incurred in support of our business. | [0.007413981482386589, -0.0006364363362081349, 0.019415123388171196, -0.03500118851661682, -0.02163803204894066, 0.004208108875900507, -0.012849188409745693, -0.007793032564222813, -0.0014913089107722044, -0.021715126931667328, -0.003915790002793074, 0.014378241263329983, -0.005615095142275095, -0.005926687736064196, 0... |
200 | V | 2016 | Litigation provision is an estimate of litigation expense and is based on management's understanding of our litigation profile, the specifics of the cases, advice of counsel to the extent appropriate and management's best estimate of incurred loss as of the balance sheet date. | [-0.004518409259617329, -0.014633559621870518, -0.003645158838480711, -0.020203838124871254, -0.012787826359272003, 0.0018407722236588597, -0.011616876348853111, 0.014739408157765865, -0.005199809093028307, -0.009962993673980236, 0.0055967411026358604, 0.027573542669415474, -0.010545160621404648, 0.0297699011862278, -0... |
201 | V | 2016 | Visa Europe Framework Agreement loss is a one-time loss incurred upon consummation of the Visa Europe acquisition on June 21, 2016, resulting from the effective settlement of the Framework Agreement between us and Visa Europe. | [-0.004584562964737415, -0.03230835124850273, 0.02206716313958168, -0.04565252736210823, -0.028579439967870712, 0.0052437810227274895, -0.01769901067018509, -0.019004128873348236, 0.012232160195708275, -0.012165572494268417, 0.009355571120977402, 0.007777443155646324, -0.004095143638551235, -0.0025453148409724236, 0.00... |
202 | V | 2016 | Non-operating income (expense) primarily includes interest expense, changes in the fair value of the Visa Europe put option and income, gains and losses earned on investments and derivative instruments not associated with our core operations. | [-0.020729145035147667, -0.03520725667476654, 0.01960550807416439, -0.027871334925293922, -0.0221885796636343, 0.012986388988792896, -0.03089352883398533, -0.00864682998508215, -0.0034064247738569975, -0.025159111246466637, 0.011752973310649395, 0.0243583582341671, -0.019166385754942894, -0.0050337594002485275, -0.0003... |
203 | V | 2016 | Visa Inc. Fiscal 2016, 2015 and 2014 | [-0.0009486104245297611, -0.0164069514721632, 0.012719396501779556, -0.02139049768447876, -0.01881187967956066, -0.003388610202819109, -0.029927991330623627, -0.021991729736328125, -0.012345296330749989, -0.005143873393535614, 0.0189855694770813, -0.0005778507329523563, 0.009613030590116978, -0.004896700382232666, 0.01... |
204 | V | 2016 | The following table sets forth our operating revenues earned in the U.S., internationally and in accordance with the Framework Agreement prior to the Visa Europe acquisition on June 21, 2016. Visa Europe revenue earned for the three months ended September 30, 2016 is included in International. | [-0.010213661007583141, -0.02914421074092388, 0.01392592117190361, -0.03795341029763222, -0.00772783113643527, 0.0031122323125600815, -0.021693315356969833, -0.0025534152518957853, -0.004526583943516016, -0.012237930670380592, 0.01190165150910616, 0.015125976875424385, 0.002515501342713833, -0.02178562618792057, -0.004... |
205 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.0051759821362793446, -0.017802242189645767, 0.013279792852699757, -0.027030128985643387, -0.013266721740365028, -0.01982819475233555, -0.033931437879800797, -0.0257492046803236, -0.012933420017361641, -0.02219398505985737, 0.018704118207097054, 0.023514121770858765, -0.01758003979921341, 0.0056792027316987514, -0.0... |
206 | V | 2016 | (2) Our operating revenues for fiscal 2016 do not reflect revenues earned by Visa Europe from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. | [-0.022409481927752495, -0.02454862743616104, 0.014484334737062454, -0.03231913968920708, -0.011462469585239887, -0.0026030566077679396, -0.02685529738664627, -0.010276919230818748, -0.009271778166294098, -0.016004933044314384, 0.0224996879696846, 0.014574539847671986, -0.001000308315269649, -0.03172636404633522, 0.001... |
207 | V | 2016 | (3) Reflects revenues earned from Visa Europe prior to the acquisition, in accordance with the Framework Agreement that provided for trademark and technology licenses and bilateral services. The Framework Agreement was effectively settled upon the closing of the acquisition. See Note 2—Acquisition of Visa Europe to our... | [-0.0024297377094626427, -0.03087351657450199, 0.009038888849318027, -0.04085657000541687, -0.004638290032744408, 0.011336575262248516, -0.03203556314110756, -0.006543125491589308, 0.005770627409219742, -0.03031890280544758, 0.014948169700801373, 0.015608424320816994, 0.0057409158907830715, -0.015793295577168465, 0.007... |
208 | V | 2016 | The increase in operating revenues primarily reflects continued growth in processed transactions and nominal payments volume, as well as the fiscal fourth quarter operating revenues of Visa Europe. These benefits were partially offset by increases in client incentives. Overall revenue growth also reflects the positive ... | [-0.018870843574404716, -0.020977847278118134, 0.007697144523262978, -0.03745197504758835, -0.0039802598766982555, 0.007005784194916487, -0.026890624314546585, -0.01825191266834736, -0.040823180228471756, -0.03776802495121956, 0.016829684376716614, -0.007249406538903713, -0.004918534774333239, -0.022847812622785568, -0... |
209 | V | 2016 | Our operating revenues, primarily service revenues, international transaction revenues, and client incentives, are impacted by the overall strengthening or weakening of the U.S. dollar as payments volume and related revenues denominated in local currencies are converted to U.S. dollars. The effect of exchange rate move... | [-0.01778571307659149, -0.02336014434695244, 0.001695282757282257, -0.024579960852861404, 0.005184220615774393, -0.0009222403750754893, -0.004957964178174734, -0.000872234464623034, -0.01921539008617401, -0.025275124236941338, 0.005282592959702015, 0.023006003350019455, 0.015437894500792027, 0.00034676239010877907, -0.... |
210 | V | 2016 | The following table sets forth the components of our net operating revenues, including operating revenues earned by Visa Europe for the three months ended September 30, 2016. Other revenues also includes revenue earned from Visa Europe in accordance with the Framework Agreement prior to its acquisition on June 21, 2016... | [-0.00923143420368433, -0.022435221821069717, 0.014226569794118404, -0.04162393510341644, -0.00678335502743721, 0.008261440321803093, -0.02144543267786503, -0.0030584486667066813, -0.024269631132483482, -0.012029238045215607, 0.022831138223409653, 0.014028612524271011, -0.013309365138411522, -0.03148849308490753, -0.00... |
211 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.004965422675013542, -0.014508802443742752, 0.01303057186305523, -0.02709004282951355, -0.012841722927987576, -0.016605675220489502, -0.02621743083000183, -0.02625650353729725, -0.01401388831436634, -0.022740008309483528, 0.02069522999227047, 0.02636069618165493, -0.018429044634103775, 0.005870594643056393, -0.00718... |
212 | V | 2016 | (2) Our operating revenues for fiscal 2016 do not reflect revenues earned by Visa Europe from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. [DATA_TABLE_REMOVED][DATA_TABLE_REMOVED] | [-0.02856537140905857, -0.026536354795098305, 0.016643241047859192, -0.03294168412685394, -0.016258656978607178, -0.0007090783328749239, -0.034957438707351685, -0.011106545105576515, -0.019149674102663994, -0.016431055963039398, 0.0223589688539505, 0.01337426993995905, -0.0015772952465340495, -0.03262340649962425, 0.00... |
213 | V | 2016 | •International transaction revenues increased in fiscal 2016 primarily due to nominal cross-border volume growth of 37%, including revenues earned by Visa Europe in the fiscal fourth quarter. In addition to the inclusion of Visa Europe revenue and the resulting impact on our international transaction revenue yield, fis... | [-0.008496185764670372, -0.02678503282368183, 0.0074761174619197845, -0.028219711035490036, -0.013978233560919762, 0.0003374864754732698, -0.03143128380179405, -0.00978607963770628, -0.021941350772976875, -0.024034136906266212, 0.0256662480533123, 0.00851592980325222, 0.010305985808372498, -0.019558997824788094, 0.0061... |
214 | V | 2016 | The following table sets forth the components of our total operating expenses. | [-0.0027798102237284184, 0.012551617808640003, -0.0022335085086524487, -0.03618916496634483, -0.030539605766534805, 0.009013980627059937, -0.0037541596684604883, 0.00014573600492440164, -0.01609591767191887, 0.0039373706094920635, 0.008007985539734364, 0.025329751893877983, -0.011225836351513863, 0.004237170331180096, ... |
215 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.0051759821362793446, -0.017802242189645767, 0.013279792852699757, -0.027030128985643387, -0.013266721740365028, -0.01982819475233555, -0.033931437879800797, -0.0257492046803236, -0.012933420017361641, -0.02219398505985737, 0.018704118207097054, 0.023514121770858765, -0.01758003979921341, 0.0056792027316987514, -0.0... |
216 | V | 2016 | (2) Our operating expenses for fiscal 2016 do not reflect the expenses incurred by Visa Europe from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. Operating expenses incurred by Visa Europe for the three months ended September 30, 2016 are reflected in fiscal 2016 total operati... | [-0.019376296550035477, -0.017005302011966705, 0.01713702455163002, -0.04478545859456062, -0.023038165643811226, 0.01045213546603918, -0.025817498564720154, -0.005864919163286686, -0.012441136874258518, -0.009859386831521988, 0.012612375430762768, 0.02160239778459072, 0.0019017354352399707, -0.03137616440653801, 0.0020... |
217 | V | 2016 | •Personnel expenses increased in fiscal 2016 primarily due to a severance charge related to personnel reductions including planned reductions at Visa Europe, combined with an increase from the inclusion of Visa Europe fiscal fourth quarter expenses. This increase was partially offset by a decrease in contractor | [-0.003356803674250841, -0.009667853824794292, 0.019751250743865967, -0.04950148984789848, -0.010089889168739319, 0.013186979107558727, -0.010135339573025703, -0.012044236995279789, -0.0026133721694350243, -0.012738971970975399, 0.00790179893374443, 0.014738770201802254, 0.008810797706246376, 0.0003053668770007789, 0.0... |
218 | V | 2016 | costs, an increase in personnel costs that were invested in and capitalized as part of technology development projects and lower incentive compensation. The increase in fiscal 2015 was primarily due to an increase in headcount reflecting our strategy to invest for future growth, combined with higher incentive compensat... | [-0.021939752623438835, -0.006479459814727306, 0.0028630171436816454, -0.04572790861129761, -0.004965911619365215, 0.013193318620324135, -0.014532742090523243, -0.0033920893911272287, -0.00995191466063261, -0.006536385510116816, 0.00420244038105011, 0.007407010532915592, 0.009777789935469627, 0.011733347550034523, 0.00... |
219 | V | 2016 | •Professional fees increased in fiscal 2016 primarily reflecting transaction costs incurred in connection with our acquisition of Visa Europe. See Note 2—Acquisition of Visa Europe to our consolidated financial statements.[DATA_TABLE_REMOVED] | [-0.011483929120004177, -0.011386662721633911, 0.013500587083399296, -0.06100553646683693, -0.01792296953499317, -0.005917043890804052, -0.021515345200896263, 0.0016973000019788742, -0.003848510328680277, -0.037116888910532, -0.0013819945743307471, 0.006153726018965244, 0.027597742155194283, -0.01250198483467102, 0.009... |
220 | V | 2016 | •General and administrative expenses increased in fiscal 2016 mainly due to costs incurred related to our acquisition of Visa Europe and the inclusion of Visa Europe expenses beginning in the fourth quarter of fiscal 2016. See Note 2—Acquisition of Visa Europe to our consolidated financial statements. The increase was ... | [-0.0048721726052463055, -0.007098615635186434, 0.010764933191239834, -0.04313774034380913, -0.02039876952767372, 0.0018331590108573437, -0.020658791065216064, -0.012500584125518799, -0.004066102672368288, -0.022361939772963524, 0.0030081358272582293, 0.01879963092505932, 0.008704254403710365, -0.009380313567817211, 0.... |
221 | V | 2016 | •Visa Europe Framework Agreement loss resulted from the effective settlement of the Framework Agreement between Visa and Visa Europe upon consummation of the transaction. See Note 2—Acquisition of Visa Europe to our consolidated financial statements. | [-0.005935743451118469, -0.0325419157743454, 0.020251739770174026, -0.05258753150701523, -0.028367895632982254, 0.00759440241381526, -0.0196591317653656, -0.015304749831557274, 0.012109818868339062, -0.024464411661028862, 0.0157942958176136, 0.014003588818013668, 0.003984001465141773, -0.006660400424152613, 0.013552690... |
222 | V | 2016 | The following table sets forth the components of our non-operating income (expense). | [-0.013775971718132496, -0.0034803845919668674, 0.008681111969053745, -0.016515284776687622, -0.020961709320545197, -0.0010115281911566854, 0.0006749035092070699, -0.0033232381101697683, -0.01553601399064064, 0.005243735387921333, 0.016634386032819748, 0.01644911803305149, -0.004893050529062748, 0.008330426178872585, -... |
223 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. | [-0.0052548921667039394, -0.017790816724300385, 0.013333308510482311, -0.02705877460539341, -0.01330716535449028, -0.0198692437261343, -0.033908434212207794, -0.025738514959812164, -0.012934616766870022, -0.022169893607497215, 0.01875813491642475, 0.023516297340393066, -0.017529379576444626, 0.005627440754324198, -0.00... |
224 | V | 2016 | (2) Our non-operating income (expense) for fiscal 2016 does not reflect the financial results of Visa Europe from the acquisition date, June 21, 2016, through June 30, 2016 as the impact was immaterial. Fiscal 2016 non-operating income (expense) includes financial results of Visa Europe for the three months ended Septe... | [-0.023169957101345062, -0.018696941435337067, 0.020913656800985336, -0.040587007999420166, -0.014091978780925274, 0.0029143874999135733, -0.026917262002825737, -0.002050132257863879, -0.010146751999855042, -0.01613716222345829, 0.007230715360492468, 0.021071994677186012, -0.0013318436685949564, -0.019871272146701813, ... |
225 | V | 2016 | •Interest expense increased during fiscal 2016 primarily due to the issuance of $16.0 billion fixed-rate senior notes in December 2015. See Note 9—Debt to our consolidated financial statements. | [-0.03368673473596573, -0.011352073401212692, 0.01080421730875969, -0.030221231281757355, -0.0047523267567157745, 0.0022089402191340923, -0.014957726001739502, 0.005459442734718323, -0.003870024811476469, -0.020971395075321198, 0.017888115718960762, 0.012454153969883919, 0.0008496536174789071, 0.005332034081220627, 0.0... |
226 | V | 2016 | •net gains of $74 million in fiscal 2016 related to currency forward contracts entered into to mitigate a portion of our foreign currency exchange rate risk associated with the upfront cash consideration paid in the Visa Europe acquisition. As these contracts are not designated in hedging relationships, related gains a... | [-0.007571343798190355, -0.017783086746931076, 0.01441657729446888, -0.02037067711353302, 0.002298797247931361, -0.0001739981526043266, -0.021123191341757774, -0.006465676706284285, 0.007406318560242653, -0.000617193232756108, 0.014139335602521896, 0.02949325554072857, -0.013175589963793755, -0.004950747825205326, 0.00... |
227 | V | 2016 | •a non-cash adjustment of $110 million in the third quarter of fiscal 2015 to increase the fair value of the unamended Visa Europe put option, which is not subject to tax. | [-0.01203078217804432, -0.02686472423374653, 0.016497058793902397, -0.018039466813206673, -0.015813035890460014, 0.017757810652256012, -0.06083793565630913, -0.0354887954890728, -0.018844202160835266, -0.006803360302001238, 0.0207755658775568, 0.0031535536982119083, -0.01349271647632122, -0.016134928911924362, 0.009375... |
228 | V | 2016 | See Note 4—Fair Value Measurements and Investments and Note 12—Derivative and Non-derivative Financial Instruments to our consolidated financial statements. | [-0.030564812943339348, -0.008094015531241894, -0.012873698025941849, -0.019068418070673943, -0.010081356391310692, 0.00429856963455677, -0.05967056378722191, -0.006452571600675583, 0.007697804365307093, -0.008238662965595722, 0.0005428241565823555, 0.03614949434995651, -0.022615445777773857, 0.005285951774567366, -0.0... |
229 | V | 2016 | The effective income tax rate was 25% in fiscal 2016 and 30% in fiscal 2015. The effective tax rate in fiscal 2016 differs from the effective tax rate in fiscal 2015 primarily due to: | [-0.02532340958714485, -0.011778036132454872, 0.0025847298093140125, -0.046834420412778854, -0.019276592880487442, -0.02401052974164486, -0.010446221567690372, -0.01644885540008545, -0.014163941144943237, -0.017988963052630424, 0.027671441435813904, -0.0012702732346951962, 0.013507501222193241, 0.007157713174819946, 0.... |
230 | V | 2016 | •the effect of one-time items related to the Visa Europe acquisition, the most significant of which was the $1.9 billion U.S. loss related to the effective settlement of the Framework Agreement between Visa and Visa Europe. These one-time items impacted the geographic mix of our global income, resulting in a reduced ef... | [-0.019659273326396942, -0.021904895082116127, 0.028103886172175407, -0.054863091558218, -0.017857398837804794, 0.004467711318284273, -0.012303854338824749, -0.013890581205487251, -0.0006315810605883598, -0.031600065529346466, 0.005335032008588314, 0.002069131936877966, 0.010804533027112484, 0.007106652949005365, -0.00... |
231 | V | 2016 | •the absence of a $296 million tax benefit recognized in fiscal 2015 resulting from the resolution of uncertain tax positions with taxing authorities. Included in the $296 million was a one-time $239 million tax benefit that related to prior fiscal years. | [-0.021569816395640373, -0.009969845414161682, 0.014801536686718464, -0.012395472265779972, -0.017983540892601013, -0.00013000248873140663, -0.01098704431205988, -0.015870898962020874, -0.010341513901948929, 0.0037362470757216215, 0.0441829152405262, -0.0017833570018410683, 0.0002453338529448956, 0.031298402696847916, ... |
232 | V | 2016 | The effective income tax rates were 30% in fiscal 2015 and 2014. The following highlights the significant tax items recorded in each respective year: | [-0.021157460287213326, -0.01545491348952055, -0.002986898412927985, -0.04022062197327614, -0.010629195719957352, -0.030102385208010674, -0.01333538256585598, -0.023201294243335724, -0.002239385386928916, -0.013297533616423607, 0.026998786255717278, 0.010496724396944046, 0.005390295293182135, 0.012748726643621922, 0.00... |
233 | V | 2016 | •a $264 million tax benefit recognized in fiscal 2014 related to a deduction for U.S. domestic production activities, of which $191 million was a one-time tax benefit related to prior fiscal years. | [-0.020217858254909515, -0.030300665646791458, 0.016822094097733498, -0.02996108867228031, -0.02093619294464588, 0.0005583419697359204, -0.001462790765799582, -0.006105845328420401, 0.00368636311031878, 0.001461158157326281, 0.011395401321351528, 0.03152836486697197, -0.0015738060465082526, 0.00400308333337307, -0.0133... |
234 | V | 2016 | Adjusted effective income tax rate. Our financial results for fiscal 2016 reflect the impact of certain significant items that we do not believe are indicative of our ongoing operating performance in the prior or future years, as they are either non-recurring or have no cash impact. As such, we have presented our adjus... | [-0.03252566605806351, -0.005286709405481815, -0.013389131054282188, -0.041778210550546646, -0.01867261901497841, -0.010618521831929684, -0.013389131054282188, -0.01679118163883686, -0.010489655658602715, -0.008060540072619915, 0.01185563113540411, 0.0053994664922356606, 0.00875641405582428, 0.007712603081017733, -0.01... |
235 | V | 2016 | (1) Figures in the table may not recalculate exactly due to rounding. Effective income tax rate changes are calculated based on unrounded numbers. | [-0.019824359565973282, -0.02712135761976242, 0.014224042184650898, -0.033754993230104446, -0.007526623085141182, -0.01912272535264492, -0.02334528975188732, -0.03411218896508217, -0.02277122437953949, -0.020411182194948196, 0.02220991626381874, 0.017183663323521614, -0.010224726051092148, 0.0036548771895468235, -0.016... |
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