Visa 2009 Annual Report Download - page 129

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Table of Contents
Selected Quarterly Financial Data (Unaudited)
(in millions, except per share data)
The following tables show selected quarterly operating results for each quarter and full year of fiscal 2009 and 2008 for Visa Inc.:
Quarter Ended (unaudited) Fiscal Year
Visa Inc.
Dec. 31,
2008
Mar. 31,
2009
June 30,
2009
Sept. 30,
2009 2009 Total
Operating revenues $ 1,739 $ 1,647 $ 1,646 $ 1,879 $ 6,911
Operating income 966 881 822 869 3,538
Net income 574 536 729 514 2,353
Basic net income per share
Class A common stock $ 0.74 $ 0.71 $ 0.97 $ 0.69 $ 3.11
Class B common stock $ 0.52 $ 0.45 $ 0.61 $ 0.41 $ 1.98
Class C common stock(i) $ 0.74 $ 0.71 $ 0.97 $ 0.69 $ 3.11
Diluted net income per share
Class A common stock $ 0.74 $ 0.71 $ 0.97 $ 0.69 $ 3.10
Class B common stock $ 0.52 $ 0.45 $ 0.61 $ 0.41 $ 1.98
Class C common stock(i) $ 0.74 $ 0.71 $ 0.97 $ 0.69 $ 3.10
Quarter Ended (unaudited) Fiscal Year
Visa Inc.
Dec. 31,
2007
Mar. 31,
2008
June 30,
2008
Sept. 30,
2008 2008 Total
Operating revenues $ 1,488 $ 1,453 $ 1,613 $ 1,709 $ 6,263
Operating income (loss) 678 349 648 (443) 1,232
Net income (loss) 424 314 422 (356) 804
Basic and diluted net income per share(ii) 0.55 N/A N/A N/A N/A
Basic and diluted net income (loss) per share(iii)
Class A common stock N/A $ 0.39 $ 0.51 $ (0.45) $ 0.96
Class B common stock N/A $ 0.37 $ 0.36 $ (0.32) $ 0.85
Class C (series I) common stock N/A $ 0.39 $ 0.51 $ (0.45) $ 0.96
Class C (series II) common stock N/A $ 0.30 $ 0.12 $ 0.12 $ 0.79
Class C (series III and IV) common stock N/A $ 0.39 $ 0.51 $ (0.45) $ 0.96
(i) In October 2008, the Company redeemed all shares of class C (series II), and partial shares of class C (series III) common stock. Following the
redemptions, the remaining shares of class C (series III) and class C (series IV) common stock automatically converted into shares of class C (series I)
common stock. Under the Fifth Amended and Restated Certificated of Incorporation, shares of class C (series I) common stock were designated as class
C common stock with no series designation.
(ii) For the quarter ended December 31, 2007, the Company did not have any dilutive potential common shares. Each regional class and series of common
stock were legally entitled to equal per share distributions and the Company therefore presented a single earnings per share amount for period presented
ending prior to the IPO.
(iii) Following the IPO, the Company calculated net income per share using the two-class method to reflect the different rights of each class and series of
outstanding common stock.
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