VISA INC.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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FY2025 · Filed Nov 6, 2025
V$422.16-0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
VISA
| September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions, except per share data) | ||
| Assets | ||
| Cash and cash equivalents | $17,164 | $11,975 |
| Restricted cash equivalents—U.S. litigation escrow | 2,990 | 3,089 |
| Investment securities | 1,833 | 3,200 |
| Settlement receivable | 4,191 | 4,454 |
| Accounts receivable | 3,126 | 2,561 |
| Customer collateral | 3,625 | 3,524 |
| Current portion of client incentives | 2,158 | 1,918 |
| Prepaid expenses and other current assets | 2,679 | 3,312 |
| Total current assets | 37,766 | 34,033 |
| Investment securities | 999 | 2,545 |
| Client incentives | 5,157 | 4,628 |
| Property, equipment and technology, net | 4,236 | 3,824 |
| Goodwill | 19,879 | 18,941 |
| Intangible assets, net | 27,646 | 26,889 |
| Other assets | 3,944 | 3,651 |
| Total assets | $99,627 | $94,511 |
| Liabilities | ||
| Accounts payable | $555 | $479 |
| Settlement payable | 4,568 | 5,265 |
| Customer collateral | 3,625 | 3,524 |
| Accrued compensation and benefits | 1,863 | 1,538 |
| Client incentives | 10,369 | 9,075 |
| Accrued liabilities | 5,466 | 4,909 |
| Current maturities of debt | 5,569 | — |
| Accrued litigation | 3,033 | 1,727 |
| Total current liabilities | 35,048 | 26,517 |
| Long-term debt | 19,602 | 20,836 |
| Deferred tax liabilities | 5,549 | 5,301 |
| Other liabilities | 1,519 | 2,720 |
| Total liabilities | 61,718 | 55,374 |
| Commitments and contingencies (Note 18 and Note 20) | ||
| Equity | ||
| Preferred stock, $0.0001 par value, 5 shares issued and outstanding as of September 30, 2025 and 2024 | 745 | 1,031 |
| Common stock, $0.0001 par value: | ||
| Class A common stock, 1,691 and 1,733 shares issued and outstanding as of September 30, 2025 and 2024, respectively | — | — |
| Class B-1 and B-2 total common stock, 125 shares issued and outstanding as of September 30, 2025 and 2024 | — | — |
| Class C common stock, 9 and 10 shares issued and outstanding as of September 30, 2025 and 2024, respectively | — | — |
| Right to recover for covered losses | (124) | (104) |
| Additional paid-in capital | 21,934 | 21,229 |
| Accumulated income | 15,106 | 17,289 |
| Accumulated other comprehensive income (loss): | ||
| Investment securities | 12 | 30 |
| Defined benefit pension and other postretirement plans | (32) | (16) |
| Derivative instruments | (307) | (213) |
| Foreign currency translation adjustments | 575 | (109) |
| Total accumulated other comprehensive income (loss) | 248 | (308) |
| Total equity | 37,909 | 39,137 |
| Total liabilities and equity | $99,627 | $94,511 |
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