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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2011
(in millions, except as noted)
Investments
Available-for-sale investments
Available-for-sale investment securities, which are recorded at fair value, consist of the types of securities presented below. The amortized cost,
unrealized gains and losses, and fair value of available-for-sale securities are as follows:
September 30, 2011
(in millions)
September 30, 2010
(in millions)
Amortized
Cost
Gross Unrealized Fair
Value
Amortized
Cost
Gross Unrealized Fair
Value Gains Losses Gains Losses
September 30:
Debt securities:
U.S. Treasury securities $ 350 $ — $ — $ 350 $ — $ — $ — $ —
U.S. government-sponsored debt securities 1,568 — — 1,568 130 5 — 135
Auction rate securities 7 — — 7 13 — — 13
Total $ 1,925 $ — $ — $ 1,925 $ 143 $ 5 $ — $ 148
Less: current portion of available-for-sale securities (1,214) (124)
Long-term available-for-sale securities $ 711 $ 24
The contractual maturity of available-for-sale debt securities regardless of their balance sheet classification is presented below. Contractual maturities
may differ from expected maturities as borrowers may have the right to prepay certain obligations in advance of the contractual due date.
Amortized Cost Fair Value
(in millions)
September 30, 2011:
Due within one year $ 1,214 $ 1,214
Due after 1 year through 5 years 704 704
Due after 5 years through 10 years — —
Due after 10 years 7 7
Total $ 1,925 $ 1,925
Trading assets
Trading assets primarily consist of mutual fund investments related to various employee compensation plans. See Note 1—Summary of Significant
Accounting Policies. As of September 30, 2011 and 2010, trading assets totaled $57 million and $60 million, respectively.
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