Visa 2008 Annual Report Download - page 102

Table of Contents
VISA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended
September 30,
2008 2007(1) 2006(1)
(in millions except per share data)
Operating Revenues
Service fees $ 3,061 $ 1,945 $ 1,610
Data processing fees 2,073 1,416 1,248
International transaction fees 1,721 454 398
Other revenues 569 280 280
Volume and support incentives (1,161) (505) (588)
Total operating revenues 6,263 3,590 2,948
Operating Expenses
Personnel 1,199 721 671
Network, EDP and communications 339 249 213
Advertising, marketing and promotion 1,016 581 474
Visa International fees — 173 159
Professional and consulting fees 438 334 291
Depreciation and amortization 237 126 138
Administrative and other 332 202 249
Litigation provision 1,470 2,653 23
Total operating expenses 5,031 5,039 2,218
Operating income (loss) 1,232 (1,449) 730
Other Income (Expense)
Equity in earnings of unconsolidated affiliates 1 40 13
Interest expense (143) (81) (89)
Investment income, net 211 103 68
Other 35 — —
Total other income (expense) 104 62 (8)
Income (loss) before income taxes and minority interest 1,336 (1,387) 722
Income tax expense (benefit) 532 (316) 251
Income (loss) before minority interest 804 (1,071) 471
Minority interest — (5) (16)
Net income (loss) $ 804 $ (1,076) $ 455
Basic net income per share (Note 17)(2)
Class A common stock $ 0.96
Class B common stock $ 0.85
Class C (series I) common stock $ 0.96
Class C (series II) common stock $ 0.79
Class C (series III and IV) common stock $ 0.96
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