Visa 2014 Annual Report Download - page 103
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VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2014
Note 4—Fair Value Measurements and Investments
Fair Value Measurements
The Company measures certain assets and liabilities at fair value. See Note 1—Summary of
Significant Accounting Policies.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Fair Value Measurements at September 30
Using Inputs Considered as
Level 1 Level 2 Level 3
2014 2013 2014 2013 2014 2013
(in millions)
Assets
Cash equivalents and restricted
cash:
Money market funds .......... $ 2,277 $ 1,071
Commercial paper ............ $37$51
Investment securities, trading:
Equity securities .............. 69 75
Investment securities, available-
for-sale:
U.S. government-sponsored debt
securities .................... 2,162 2,704
U.S. Treasury securities ....... 2,176 1,673
Equity securities .............. 58 101
Corporate debt securities ...... 522 269
Auction rate securities ......... $7$7
Prepaid and other current assets:
Foreign exchange derivative
instruments .................. 40 23
Total ........................... $ 4,580 $ 2,920 $ 2,761 $ 3,047 $7$7
Liabilities
Accrued liabilities:
Visa Europe put option ........ $ 145 $ 145
Foreign exchange derivative
instruments .................. $6$15
Total ........................... $—$—$6$15$ 145 $ 145
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