Visa 2014 Annual Report Download - page 88

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VISA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued)
For the Years Ended
September 30,
2014 2013 2012
(in millions)
Financing Activities
Repurchase of class A common stock (Note 14) .................. (4,118) (5,365) (710)
Dividends paid (Note 14) ..................................... (1,006) (864) (595)
Deposits into litigation escrow account—retrospective responsibility
plan (Note 3) ............................................... (450) — (1,715)
(Return to) payments from litigation escrow account—retrospective
responsibility plan (Note 3) .................................... (999) 4,383 140
Cash proceeds from exercise of stock options .................... 91 108 174
Restricted stock and performance-based shares settled in cash for
taxes ...................................................... (86) (64) —
Excess tax benefit for share-based compensation ................. 90 74 71
Payments for earn-out related to PlaySpan acquisition ............. —(12) (14)
Principal payments on capital lease obligations ................... —(6) (6)
Net cash used in financing activities ............................ (6,478) (1,746) (2,655)
Effect of exchange rate changes on cash and cash equivalents ...... (1) —7
(Decrease) increase in cash and cash equivalents ................ (215) 112 (53)
Cash and cash equivalents at beginning of year .................. 2,186 2,074 2,127
Cash and cash equivalents at end of year ....................... $ 1,971 $ 2,186 $ 2,074
Supplemental Disclosure
Income taxes paid, net of refunds .............................. $ 2,656 $ 595 $ 2,057
Non-cash accruals related to purchases of property, equipment,
technology and intangible assets ............................... $62$46$67
See accompanying notes, which are an integral part of these consolidated financial statements.
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