Visa 2010 Annual Report Download - page 95
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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2010
(in millions, except as noted)
Investment income
Investment income, net, consisted of the following:
For the Years Ended
September 30,
2010 2009 2008
(in millions)
Interest and dividend income on cash and investments $ 26 $ 113 $ 279
Gain on other investments 20 473 —
Investment securities-available-for-sale:
Gross realized gains 2 3 2
Gross realized losses — — (3)
Investment securities-trading assets:
Unrealized gains 3 8 —
Realized gains (losses) 1 (6) —
Other-than-temporary impairment on investments and other assets (3) (16) (67)
Investment income, net $ 49 $ 575 $ 211
The gain on other investments in fiscal 2009 represents the pre-tax gain from the sale of the Company's equity interest in VisaNet do Brasil.
Note 6—CyberSource Acquisition
On July 21, 2010, the Company completed its acquisition of all of the outstanding shares of common stock of CyberSource Corporation, a leading
provider of electronic payment, risk management and payment security solutions to online merchants. The combination was executed to accelerate the growth
of Visa's eCommerce category and enhance the value of the Company's network, product and service offerings to financial institutions, merchants, partners
and consumers.
Total purchase consideration was approximately $2.0 billion, paid with cash on hand as follows:
(in millions)
Acquisition of approximately 72 million shares of outstanding common stock of CyberSource at $26.00 per share $ 1,866
Fair value of earned stock options settled 86
Total purchase price $ 1,952
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