Visa 2008 Annual Report Download - page 137

Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2008
(in millions, except as noted)
Technology consists of both purchased and internally developed software. Internally developed software represents software utilized by the VisaNet
electronic payment network. At September 30, 2008, and September 30, 2007, accumulated amortization for technology was $304 million and $176 million,
respectively.
At September 30, 2008, estimated future amortization expense on technology was as follows:
Fiscal (in millions)
2009 $ 117
2010 98
2011 12
2012 —
2013 —
Total $ 227
Depreciation and amortization expenses related to property, equipment and technology was $237 million and $126 million for the twelve months ended
September 30, 2008 and 2007, respectively. Included in those amounts are amortization expense on technology of $129 million and $51 million for the twelve
months ended September 30, 2008 and 2007, respectively.
Note 9—Intangible Assets
Intangible assets consisted of the following:
September 30,
2008
(in millions)
Customer relationships $ 6,799
Tradename 2,564
Visa Europe franchise right 1,520
Total intangible assets $ 10,883
Visa U.S.A had no intangible assets at September 30, 2007.
Intangible assets, all of which have an indefinite life, and were acquired from Visa International and Visa Canada in the reorganization include
customer relationships, tradename, and the Visa Europe franchise right. Customer relationships represent the value of the Company's relationships with its
customers in Canada and the unincorporated regions of Visa International. Tradename represents the value of the Visa brand utilized in Canada and the
unincorporated regions of Visa International. Visa Europe franchise right represents the value of the right to franchise the use of the Visa brand, use of Visa
technology and access to the overall Visa network in the Visa Europe region.
There was no depreciation or impairment related to these intangible assets for the 12 months ended September 30, 2008, as these have been determined
to be indefinite-lived intangible assets.
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