Visa 2009 Annual Report Download - page 90

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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2009
(in millions, except as noted)
Investment income
Investment income, net, consisted of the following:
For the Years Ended
September 30,
2009 2008 2007
(in millions)
Interest and dividend income on cash and investments $ 113 $ 279 $ 98
Gain on sale of other investments 473 — 1
Investment securities-available-for-sale:
Gross realized gains 3 2 5
Gross realized losses — (3) (1)
Investment securities-trading assets:
Unrealized gains (losses) 8 — —
Realized gains (losses) (6) — —
Other-than-temporary impairment on investments and other assets (16) (67) —
Investment income, net $ 575 $ 211 $ 103
Note 6—Prepaid Expenses and Other Assets
Prepaid expenses and other current assets consisted of the following:
September 30,
2009
September 30,
2008
(in millions)
Money market investment—Reserve Primary Fund $ 69 $ 953
Prepaid expenses and maintenance 97 91
Income tax receivable 135 90
Other 65 56
Total $ 366 $ 1,190
Other non-current assets consisted of the following:
September 30,
2009
September 30,
2008
(in millions)
Other investments $ 102 $ 592
Long-term prepaid expenses and Other 23 42
Total $ 125 $ 634
The money market investment represents the carrying value of the Company's investment in the Reserve Primary Fund (the "Fund"). The Fund balance
reflects a $29 million other-than-temporary impairment which was recorded in fiscal 2008 against the Company's original investment of $982 million. The
other-than-temporary impairment reflected a change in the per share value of $1.00 to approximately $0.97 per share. During fiscal 2009, the Company
received distributions totaling $884 million. On August 25, 2009, the Fund issued a statement stating that each unpaid shareholder may
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