Visa 2010 Annual Report Download - page 99

Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2010
(in millions, except as noted)
Amortization expense related to finite-lived intangible assets was approximately $10 million in fiscal 2010. At September 30, 2010, estimated future
amortization expense on finite-lived intangible assets is as follows:
Fiscal (in millions) 2011 2012 2013 2014
2015 and
thereafter Total
Estimated future amortization expense $ 59 $ 59 $ 59 $ 59 $ 359 $ 595
There was no impairment related to the Company's indefinite-lived or finite-lived intangible assets during fiscal 2010, 2009 or 2008.
Note 10—Accrued and Other Liabilities
Accrued liabilities consisted of the following:
September 30,
2010
September 30,
2009
(in millions)
Visa Europe put option(1)—(See Note 3—Visa Europe) $ 267 $ 346
Accrued operating expenses 100 87
Accrued marketing and product expenses 58 103
Deferred revenue 42 39
Accrued income taxes—(See Note 21—Income Taxes) 40 23
Other 118 156
Total $ 625 $ 754
Other long-term liabilities consisted of the following:
September 30,
2010
September 30,
2009
(in millions)
Accrued income taxes—(See Note 21—Income Taxes) $ 423 $ 304
Employee benefits 76 119
Other 118 49
Total $ 617 $ 472
(1) The put option is exercisable at any time at the sole discretion of Visa Europe with payment required 285 days thereafter. Classification in current
liabilities is not an indication of management's expectation of exercise and simply reflects the fact that the obligation resulting from the exercise of the
instrument could become payable within 12 months.
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