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Table of Contents VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2012
Other non-current assets consisted of the following:
Note 7—Property, Equipment and Technology, Net
Property, equipment and technology, net, consisted of the following:
Increases to net property, equipment and technology in fiscal 2012 primarily reflect the Company's investment in payments
system infrastructure. Technology consists of both purchased and internally developed software. Internally developed software
primarily represents software utilized by VisaNet. At September 30, 2012 and 2011 , accumulated amortization for technology was
$812 million and $677 million , respectively.
At September 30, 2012 , estimated future amortization expense on technology was as follows:
Depreciation and amortization expense related to property, equipment and technology was $265 million , $225 million and
$265 million for fiscal 2012 , 2011 and 2010 , respectively. Included in those amounts was amortization expense on technology of
$132 million , $102 million and $137 million for fiscal 2012 , 2011 and 2010 , respectively.
82
September 30,
2012
September 30,
2011
(in millions)
Prepaid expenses and maintenance
$
69
$
96
Income tax receivable— (See Note 20—Income Taxes)
179
112
Foreign exchange derivative instruments—( See Note 13—Derivative Financial
Instruments)
13
30
Other
40
27
Total
$
301
$
265
September 30,
2012
September 30,
2011
(in millions)
Other investments— (See Note 4—Fair Value Measurements and Investments)
$
86
$
100
Pension asset— (See Note 11—Pension, Postretirement and Other Benefits)
23
—
Long-term prepaid expenses and other
42
29
Total
$
151
$
129
September 30,
2012
September 30,
2011
(in millions)
Land
$
71
$
71
Buildings and building improvements
751
719
Furniture, equipment and leasehold improvements
837
755
Construction-in-progress
69
89
Technology
1,353
1,115
Total property, equipment and technology
3,081
2,749
Accumulated depreciation and amortization
(1,447
)
(1,208
)
Property, equipment and technology, net
$
1,634
$
1,541
Fiscal (in millions) 2013
2014
2015
2016
2017 and
thereafter
Total
Estimated future amortization expense
$
148
$
132
$
120
$
88
$
53
$
541