Visa 2009 Annual Report Download - page 63
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Table of Contents
VISA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended
September 30,
2009 2008 2007(1)
(in millions, except per share data)
Operating Revenues
Service revenues $ 3,174 $ 3,061 $ 1,945
Data processing revenues 2,430 2,073 1,416
International transaction revenues 1,916 1,721 454
Other revenues 625 569 280
Volume and support incentives (1,234) (1,161) (505)
Total operating revenues 6,911 6,263 3,590
Operating Expenses
Personnel 1,143 1,199 721
Network, EDP and communications 393 339 249
Advertising, marketing and promotion 918 1,016 581
Visa International fees — — 173
Professional and consulting fees 353 438 334
Depreciation and amortization 226 237 126
Administrative and other 338 332 202
Litigation provision (Note 21) 2 1,470 2,653
Total operating expenses 3,373 5,031 5,039
Operating income (loss) 3,538 1,232 (1,449)
Other Income (Expense)
Equity in earnings of unconsolidated affiliates — 1 40
Interest expense (115) (143) (81)
Investment income, net (Notes 5 and 6) 575 211 103
Other 2 35 —
Total other income 462 104 62
Income (loss) before income taxes and minority interest 4,000 1,336 (1,387)
Income tax expense (benefit) (Note 20) 1,648 532 (316)
Income (loss) before minority interest 2,352 804 (1,071)
Minority interest 1 — (5)
Net income (loss) $ 2,353 $ 804 $ (1,076)
Basic net income per share (Note 16)(2)
Class A common stock $ 3.11 $ 0.96
Class B common stock $ 1.98 $ 0.85
Class C common stock $ 3.11
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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