4 unchanged sentences
There is currently no established public trading market for our class B or C common stock.
−Removed: There were 1,309 and 467 holders of record of our class B and C common stock, respectively, as of November 13, 2020.
−Removed: On October 23, 2020, our board of directors declared a quarterly cash dividend of $0.32 per share of class A common stock (determined in the case of class B and C common stock and series A, B and C preferred stock on an as-converted basis) payable on December 1, 2020, to holders of record as of November 13, 2020 of our common and preferred stock.
+Added: As of November 10, 2021, there were 1,243 and 435 holders of record of our class B and C common stock, respectively.
+Added: On October 22, 2021, our board of directors declared a quarterly cash dividend of $0.375 per share of class A common stock (determined in the case of class B and C common stock and series A, B and C convertible participating preferred stock on an as-converted basis) payable on December 7, 2021, to holders of record as of November 12, 2021 of our common and preferred stock.
Subject to legally available funds, we expect to continue paying quarterly cash dividends on our outstanding common and preferred stock in the future.
1 unchanged sentence
Issuer Purchases of Equity Securities
−Removed: The table below sets forth our purchases of common stock during the quarter ended September 30, 2020:
+Added: The table below presents our purchases of common stock during the quarter ended September 30, 2021:
Period Total Number of
4 unchanged sentences
Announced Plans or
−Removed: Programs (1),(2)
of Shares that
Purchased Under the Plans or
−Removed: Programs (1),(2)
(in millions, except per share data)
5 unchanged sentences
For purposes of our consolidated financial statements included in this Form 10-K, the impact of these repurchases is recorded according to the settlement dates.
−Removed: (2) Our board of directors from time to time authorizes the repurchase of shares of our common stock up to a certain monetary limit.
−Removed: In January 2020, our board of directors authorized a share repurchase program for $9.5 billion.
−Removed: This authorization has no expiration date.
−Removed: All share repurchase programs authorized prior to January 2020 have been completed.
−Removed: Table of Content s
+Added: See Note 15—Stockholders’ Equity to our consolidated financial statements included in Item 8—Financial Statements and Supplementary Data of this report for further discussion on our share repurchase programs.
EQUITY COMPENSATION PLAN INFORMATION
14 unchanged sentences
Reflected In Column (a))
−Removed: (in millions, except per weighted-average exercise price)
+Added: (in millions, except weighted-average exercise price)
Equity compensation plans approved by stockholders
−Removed: (1) The maximum number of shares issuable as of September 30, 2020 consisted of 6 million outstanding options, 5 million outstanding restricted stock units and 1 million outstanding performance shares under the EIP and less than 1 million outstanding purchase rights under the ESPP.
+Added: (1) As of September 30, 2021, the maximum number of shares issuable consisted of 6 million outstanding options, 5 million outstanding restricted stock units and 1 million outstanding performance shares under the EIP and less than 1 million outstanding purchase rights under the ESPP.
(2) The weighted-average exercise price is calculated based solely on the exercise prices of the outstanding stock options and does not reflect the shares that will be issued upon the vesting of outstanding restricted stock units and performance shares, which have no exercise price.
1 unchanged sentence
(3) As of September 30, 2021, 98 million shares and 15 million shares remain available for issuance under the EIP and the ESPP, respectively.
−Removed: Table of Content s
−Removed: Selected Financial Data
−Removed: The following tables present selected Visa Inc.
−Removed: financial data for the past five fiscal years.
−Removed: The data below should be read in conjunction with Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8—Financial Statements and Supplementary Data of this report.
−Removed: For the Years Ended September 30,
−Removed: 2020 2019 2018 2017 2016
−Removed: (in millions, except per share data)
−Removed: Statement of Operations:
−Removed: $ 21,846 $ 22,977 $ 20,609 $ 18,358 $ 15,082
−Removed: Operating expenses
−Removed: $ 7,765 $ 7,976 $ 7,655 $ 6,214 $ 7,199 (1)
−Removed: Operating income
−Removed: $ 14,081 $ 15,001 $ 12,954 $ 12,144 $ 7,883
−Removed: $ 12,080 $ 10,301 (3)
−Removed: Basic earnings per share—class A common stock
−Removed: $ 4.90 $ 5.32 $ 4.43 $ 2.80 $ 2.49
−Removed: Diluted earnings per share—class A common stock
−Removed: $ 4.89 $ 5.32 $ 4.42 $ 2.80 $ 2.48
−Removed: September 30,
−Removed: 2020 2019 2018 2017 2016
−Removed: (in millions, except per share data)
−Removed: Balance Sheet:
−Removed: $ 80,919 $ 72,574 $ 69,225 $ 67,977 $ 64,035
−Removed: Accrued litigation
−Removed: $ 914 $ 1,203 (5)
−Removed: Long-term debt
−Removed: $ 16,729 $ 16,630 $ 16,618 (6)
−Removed: $ 36,210 $ 34,684 $ 34,006 $ 32,760 $ 32,912
−Removed: Dividend declared and paid per common share
−Removed: $ 1.200 $ 1.000 $ 0.825 $ 0.660 $ 0.560
−Removed: (1) During fiscal 2016, upon consummation of the Visa Europe acquisition, we recorded a non-recurring loss of $1.9 billion, before tax, in operating expense resulting from the effective settlement of the Framework Agreement between us and Visa Europe.
−Removed: (2) During fiscal 2020, in connection with the UK enacted legislation, we remeasured our net deferred tax liabilities resulting in the recognition of a non-recurring, non-cash income tax expense of $329 million .
−Removed: See Note 19—Income Taxes to our consolidated financial statements included in Item 8—Financial Statements and Supplementary Data of this report.
−Removed: (3) During fiscal 2018, as a result of the U.S.
−Removed: tax reform legislation, our net income reflected a lower statutory tax rate, a non-recurring, non-cash income tax benefit of approximately $1.1 billion from the remeasurement of our deferred tax liabilities, and a one-time transition tax of approximately $1.1 billion.
−Removed: See Note 19—Income Taxes to our consolidated financial statements included in Item 8—Financial Statements and Supplementary Data of this report.
−Removed: (4) During fiscal 2017, in connection with our legal entity reorganization, we eliminated deferred tax balances originally recognized upon the acquisition of Visa Europe, resulting in the recognition of a non-recurring, non-cash income tax provision of $1.5 billion.
−Removed: (5) During fiscal 2019, related to the interchange multidistrict litigation, we made payments of $600 million, partially offset by an additional accrual of $370 million.
−Removed: During fiscal 2018, pursuant to an amended settlement agreement that superseded the 2012 Settlement Agreement related to the interchange multidistrict litigation, we recorded an accrual of $600 million.
−Removed: See Note 5—U.S.
−Removed: and Europe Retrospective Responsibility Plans and Note 20—Legal Matters to our consolidated financial statements included in Item 8—Financial Statements and Supplementary Data of this report.
−Removed: (6) During fiscal 2020, 2017 and 2016, we issued fixed-rate senior notes in an aggregate principal amount of $7.3 billion, $2.5 billion and $16.0 billion, respectively.
−Removed: See Note 10—Debt to our consolidated financial statements included in Item 8—Financial Statements and Supplementary Data of this report.
−Removed: Table of Content s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.