Visa 2007 Annual Report Download - page 125
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Table of Contents
VISA U.S.A. INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Note 6—Prepaid and Other Current Assets
Prepaid and other current assets is comprised of the following:
September 30,
2007
September 30,
2006
(in thousands)
Non-trade receivables1 $ 204,990 $ 14,282
Member collateral 67,885 51,042
Prepaid customer support 21,109 26,751
Interest receivable 18,481 14,131
Prepaid maintenance 11,186 18,042
Prepaid other 7,989 7,482
Restricted time deposits 6,486 4,805
Income tax receivable — 5,567
Prepaid pension — 4,081
Other 478 1,874
Total $ 338,604 $ 148,057
1This balance includes a $185.0 million receivable from the five co-defendant banks as part of the American Express settlement agreement. See Note 20—Legal Matters. The Company
will consolidate the initial payment to American Express on behalf of the five co-defendant banks. The Company has recorded a corresponding liability in current portion of litigation
obligation on the Company's consolidated balance sheets at September 30, 2007.
Note 7—Investments
Available-for-sale investment securities, which are recorded at fair value, consist of marketable debt securities issued by government-sponsored entities,
tax-exempt municipal bonds, auction rate securities and mutual fund investments in equity securities. The amortized cost, unrealized gains and losses and fair
value of available-for-sale securities are as follows:
Available-For-Sale
Amortized
Cost
Gross Unrealized
Gains Losses Fair Value
(in thousands)
September 30, 2007:
Government-sponsored entities $ 1,272,270 $ 1,506 $ 83 $ 1,273,693
Tax-exempt municipal bonds 9,358 — 67 9,291
Auction rate securities 152,300 — — 152,300
Equity securities 45,275 4,465 446 49,294
Total $ 1,479,203 $ 5,971 $ 596 $ 1,484,578
September 30, 2006:
Government-sponsored entities $ 897,648 $ 170 $ 2,519 $ 895,299
Tax-exempt municipal bonds 248,799 570 402 248,967
Equity securities 29,906 2,125 556 31,475
Total $ 1,176,353 $ 2,865 $ 3,477 $ 1,175,741
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