Visa 2008 Annual Report Download - page 108

Table of Contents
VISA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued)
For the Years Ended
September 30,
2008 2007(1) 2006(1)
(in millions)
Funding of litigation escrow account—Retrospective Responsibility Plan (3,000) — —
Payment from litigation escrow account—Retrospective Responsibility Plan 1,085 — —
Funding of tax escrow account for income tax withheld on stock proceeds (116) — —
Payment from tax escrow account 116 — —
Payment for redemption of stock (13,446) — —
Dividends paid (93) — —
Principal payments on debt (18) (33) (33)
Principal payments on capital lease obligations (4) (4) (4)
Net cash provided by (used in) financing activities 3,624 (37) (37)
Effect of exchange rate changes on cash and cash equivalents (5) — —
Increase in cash and cash equivalents 4,704 5 135
Cash and cash equivalents at beginning of year 275 270 135
Cash and cash equivalents at end of year $ 4,979 $ 275 $ 270
Supplemental Disclosure of Cash Flow Information
Income taxes paid, net of refunds $ 678 $ 413 $ 262
Amounts included in accounts payable and accrued and other liabilities related to purchases of property, equipment and technology $ 32 $ 6 $ 9
Interest payments on debt $ 8 $ 4 $ 6
Common stock issued in reorganization $ 17,935 — —
(1) Historical balances for periods prior to October 1, 2007 represent balances for Visa U.S.A. Inc., deemed the accounting acquirer in the business combination.
See accompanying notes, which are an integral part of these consolidated financial statements.
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