VISA INC
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Nov 13, 2024
V$423.00+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
VISA
| For the Years EndedSeptember 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions) | |||
| Operating Activities | |||
| Net income | $19,743 | $17,273 | $14,957 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Client incentives | 13,764 | 12,297 | 10,295 |
| Share-based compensation | 850 | 765 | 602 |
| Depreciation and amortization | 1,034 | 943 | 861 |
| Deferred income taxes | (100) | (483) | (336) |
| VE territory covered losses incurred | (139) | (136) | (43) |
| (Gains) losses on equity investments, net | 94 | 104 | 264 |
| Other | 136 | 14 | (94) |
| Change in operating assets and liabilities: | |||
| Settlement receivable | (2,175) | (160) | (397) |
| Accounts receivable | (237) | (250) | (97) |
| Client incentives | (14,067) | (11,014) | (9,351) |
| Other assets | (199) | (24) | (666) |
| Accounts payable | 109 | 34 | 67 |
| Settlement payable | 1,841 | (194) | 1,256 |
| Accrued and other liabilities | (676) | 1,291 | 1,055 |
| Accrued litigation | (28) | 295 | 476 |
| Net cash provided by (used in) operating activities | 19,950 | 20,755 | 18,849 |
| Investing Activities | |||
| Purchases of property, equipment and technology | (1,257) | (1,059) | (970) |
| Purchases of investment securities | (4,443) | (4,363) | (5,997) |
| Proceeds from maturities and sales of investment securities | 5,013 | 3,160 | 4,585 |
| Acquisitions, net of cash and restricted cash acquired | (915) | — | (1,948) |
| Purchases of other investments | (231) | (121) | (86) |
| Settlement of derivative instruments | — | 402 | — |
| Other investing activities | (93) | (25) | 128 |
| Net cash provided by (used in) investing activities | (1,926) | (2,006) | (4,288) |
| Financing Activities | |||
| Repurchases of class A common stock | (16,713) | (12,101) | (11,589) |
| Repayments of debt | — | (2,250) | (1,000) |
| Dividends paid | (4,217) | (3,751) | (3,203) |
| Proceeds from issuance of senior notes | — | — | 3,218 |
| Proceeds from stock issued under equity plans | 335 | 260 | 196 |
| Taxes paid related to stock issued under equity plans | (208) | (130) | (120) |
| Other financing activities | 170 | 200 | (198) |
| Net cash provided by (used in) financing activities | (20,633) | (17,772) | (12,696) |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | 382 | 636 | (1,287) |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (2,227) | 1,613 | 578 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents as of beginning of period | 21,990 | 20,377 | 19,799 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents as of end of period | $19,763 | $21,990 | $20,377 |
| Supplemental Disclosure | |||
| Cash paid for income taxes, net | $5,775 | $3,433 | $3,741 |
| Interest payments on debt | $583 | $617 | $607 |
| Accruals related to purchases of property, equipment and technology | $52 | $96 | $56 |
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