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VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2015
Available-for-sale Investment Securities
The amortized cost, unrealized gains and losses and fair value of available-for-sale investment
securities are as follows:
September 30, 2015 September 30, 2014
Amortized
Cost
Gross Unrealized Fair
Value
Amortized
Cost
Gross Unrealized Fair
ValueGains Losses Gains Losses
(in millions)
U.S. government-sponsored debt
securities ...................... $ 2,612 $ 3 $ — $ 2,615 $ 2,160 $ 2 $ — $ 2,162
U.S. Treasury securities .......... 2,652 4 — 2,656 2,174 2 — 2,176
Equity securities ................ 4 — — 4 15 43 — 58
Corporate debt securities ......... 533 — — 533 521 1 — 522
Auction rate securities ........... 7 — — 7 7 — — 7
Total .......................... $ 5,808 $ 7 $ — $ 5,815 $ 4,877 $ 48 $ — $ 4,925
Less: current portion of available-
for-sale investment securities .... (2,431) (1,910)
Long-term available-for-sale
investment securities ........... $ 3,384 $ 3,015
The available-for-sale investment securities primarily include U.S. Treasury securities, U.S.
government-sponsored debt securities and corporate debt securities. The Company recognized $5
million of other-than-temporary impairment losses on available-for-sale equity securities during fiscal
2015. Available-for-sale debt securities are presented below in accordance with their stated maturities.
The majority of these investments, $3.4 billion, are classified as non-current, as they have stated
maturities of more than one year from the balance sheet date. However, these investments are
generally available to meet short-term liquidity needs.
Amortized Cost Fair Value
(in millions)
September 30, 2015:
Due within one year ....................................... $ 2,424 $ 2,427
Due after 1 year through 5 years ............................. 3,373 3,377
Due after 5 years through 10 years ........................... ——
Due after 10 years ........................................ 77
Total ................................................... $ 5,804 $ 5,811
95