Visa 2011 Annual Report Download - page 78
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Table of Contents
VISA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued)
For the Years Ended
September 30,
2011 2010 2009
(in millions)
Financing Activities
Repurchase of class A common stock (Note 15) (2,024) (1,000) —
Dividends paid (Note 15) (423) (368) (318)
Deposits into litigation escrow account—retrospective responsibility plan (Note 3) (1,200) (500) (1,800)
Payments from litigation escrow account—retrospective responsibility plan (Note 3) 280 280 2,028
Cash proceeds from exercise of stock options 99 56 32
Excess tax benefit for share-based compensation 18 14 7
Principal payments on debt (44) (12) (50)
Principal payments on capital lease obligations (10) (12) (4)
Payment for redemption of stock — — (2,646)
Net cash used in financing activities (3,304) (1,542) (2,751)
Effect of exchange rate changes on cash and cash equivalents (9) 5 1
Decrease in cash and cash equivalents (1,740) (750) (362)
Cash and cash equivalents at beginning of year 3,867 4,617 4,979
Cash and cash equivalents at end of year $ 2,127 $ 3,867 $ 4,617
Supplemental Disclosure of Cash Flow Information
Income taxes paid, net of refunds $ 1,731 $ 1,291 $ 1,172
Amounts included in accounts payable and accrued and other liabilities related to purchases of property, equipment and
technology $ 36 $ 31 $ 18
Interest payments on debt $ 3 $ 4 $ 7
Assets acquired in joint venture with note payable and equity interest issued $ — $ — $ 22
See accompanying notes, which are an integral part of these consolidated financial statements.
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