Visa 2010 Annual Report Download - page 70

Table of Contents
VISA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended
September 30,
2010 2009 2008
(in millions, except per share data)
Operating Revenues
Service revenues $ 3,497 $ 3,174 $ 3,061
Data processing revenues 3,125 2,430 2,073
International transaction revenues 2,290 1,916 1,721
Other revenues 713 625 569
Volume and support incentives (1,560) (1,234) (1,161)
Total operating revenues 8,065 6,911 6,263
Operating Expenses
Personnel 1,222 1,228 1,314
Network, EDP and communications 425 393 339
Advertising, marketing and promotion 964 918 1,016
Professional and consulting fees 286 268 323
Depreciation and amortization 265 226 237
Administrative and other 359 338 332
Litigation provision (Note 22) (45) 2 1,470
Total operating expenses 3,476 3,373 5,031
Operating income 4,589 3,538 1,232
Other Income (Expense)
Equity in earnings of unconsolidated affiliates (7) — 1
Interest expense (72) (115) (143)
Investment income, net (Note 5) 49 575 211
Other 79 2 35
Total other income 49 462 104
Income before income taxes 4,638 4,000 1,336
Income tax expense 1,674 1,648 532
Net income including non-controlling interest 2,964 2,352 804
Loss attributable to non-controlling interest 2 1 —
Net income attributable to Visa Inc. $ 2,966 $ 2,353 $ 804
Basic earnings per share (Note 17)
Class A common stock $ 4.03 $ 3.10 $ 0.96
Class B common stock $ 2.31 $ 1.98 $ 0.85
Class C common stock $ 4.03 $ 3.10
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
See accompanying notes, which are an integral part of these consolidated financial statements.
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