Visa 2011 Annual Report Download - page 115

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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2011
(in millions, except as noted)
Note 16—Earnings Per Share
Basic earnings per share is computed by dividing net income available to each class and series by the weighted-average number of shares of common
stock outstanding and participating securities in the form of unvested restricted stock awards and unvested restricted stock units during the period. Net income
is allocated to each class and series of common stock based on its proportional ownership on an as-converted basis. The weighted number of shares of each
class and series of common stock outstanding reflects changes in ownership over the periods. See Note 15—Stockholders' Equity.
Diluted earnings per share is computed by dividing net income available by the weighted-average number of shares of common stock outstanding,
participating securities in the form of unvested restricted stock awards and unvested restricted stock units and, if dilutive, potential class A common stock
equivalent shares outstanding during the period, consisting of: (1) shares of class A common stock issuable upon the conversion of class B and class C
common stock based on the conversion rate in effect through the period, and (2) incremental shares of class A common stock calculated by applying the
treasury stock method to the assumed exercise of employee stock options and the assumed vesting of unearned performance shares.
The following table presents basic and diluted earnings per share for fiscal 2011.
Basic Earnings Per Share Diluted Earnings Per Share
(in millions, except per share data)
Income
Allocation
(A)
Weighted
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(1)
Income
Allocation
(A)
Weighted
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(1)
Common Stock:
Class A $ 2,638 509 $ 5.18 $ 3,650 707(2) $ 5.16
Class B 636(3) 245 2.59 633(3) 245 2.58
Class C 364 70 5.18 363 70 5.16
Participating securities(4) 12 Not presented Not presented 12 Not presented Not presented
Net income attributable to Visa Inc. $3,650
The following table presents basic and diluted earnings per share for fiscal 2010.
Basic Earnings Per Share Diluted Earnings Per Share
(in millions, except per share data)
Income
Allocation
(A)
Weighted
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(1)
Income
Allocation
(A)
Weighted
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(1)
Common Stock:
Class A $ 1,940 482 $ 4.03 $ 2,966 739(2) $ 4.01
Class B 566(3) 245 2.31 565(3) 245 2.30
Class C 451 112 4.03 449 112 4.01
Participating securities(4) 9 Not presented Not presented 9 Not presented Not presented
Net income attributable to Visa Inc. $2,966
114