Visa 2009 Annual Report Download - page 89

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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2009
(in millions, except as noted)
Available-For-Sale
(in millions)
Amortized
Cost
Gross Unrealized Fair
Value Gains Losses
September 30, 2008:
Debt securities:
U.S. government-sponsored agency debt securities $ 387 $ 4 $ — $ 391
Canadian government debt securities 7 — — 7
Tax-exempt municipal bonds 5 — — 5
Corporate debt securities 45 — — 45
Mortgage backed securities 23 — (1) 22
Other asset backed securities 23 — — 23
Auction rate securities 13 — — 13
Equity securities 93 — — 93
Total $ 596 $ 4 $ (1) $ 599
Less: current portion of available-for-sale securities (355)
Long-term available-for-sale securities $ 244
The contractual maturity of available-for-sale debt securities regardless of their balance sheet classification is presented below. Contractual maturities
may differ from expected maturities as borrowers may have the right to prepay certain obligations in advance of the contractual due date.
Amortized Cost Fair Value
(in millions)
September 30, 2009:
Due within one year $ 39 $ 39
Due after 1 year through 5 years 133 141
Due after 5 years through 10 years 3 3
Due after 10 years 14 15
Debt securities with no single maturity date 12 12
Total $ 201 $ 210
Trading assets
Trading assets primarily consist of mutual fund investments related to various employee compensation plans. Employees bear the risk of market
fluctuations over the term of their participation in these compensation plans. See Note 1—Summary of Significant Accounting Policies. As of September 30,
2009, trading assets totaled $59 million.
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