VISA INC., 10-K filed on 11/16/2022
Annual Report
v3.22.2.2
Cover - USD ($)
$ in Billions
 12 Months Ended
Sep. 30, 2022
Nov. 09, 2022
Mar. 31, 2022
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Sep. 30, 2022    
Document Transition Report false    
Entity File Number 001-33977    
Entity Registrant Name VISA INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 26-0267673    
Entity Address, Address Line One P.O. Box 8999    
Entity Address, City or Town San Francisco,    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94128-8999    
City Area Code 650    
Local Phone Number 432-3200    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 365.5
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Registrant’s Proxy Statement for the 2023 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the Registrant’s fiscal year ended September 30, 2022.
    
Entity Central Index Key 0001403161    
Current Fiscal Year End Date --09-30    
Document Fiscal Year Focus 2022    
Document Fiscal Period Focus FY    
Amendment Flag false    
Class A common stock      
Document Information [Line Items]      
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share    
Trading Symbol V    
Security Exchange Name NYSE    
Entity Common Stock, Shares Outstanding   1,628,169,181  
Class B common stock      
Document Information [Line Items]      
Title of 12(g) Security Class B common stock, par value $0.0001 per share    
Entity Common Stock, Shares Outstanding   245,513,385  
Class C common stock      
Document Information [Line Items]      
Title of 12(g) Security Class C common stock, par value $0.0001 per share    
Entity Common Stock, Shares Outstanding   9,812,105  
2026 Notes      
Document Information [Line Items]      
Title of 12(b) Security 1.500% Senior Notes due 2026    
Trading Symbol V26    
Security Exchange Name NYSE    
2029 Notes      
Document Information [Line Items]      
Title of 12(b) Security 2.000% Senior Notes due 2029    
Trading Symbol V29    
Security Exchange Name NYSE    
2034 Notes      
Document Information [Line Items]      
Title of 12(b) Security 2.375% Senior Notes due 2034    
Trading Symbol V34    
Security Exchange Name NYSE    
v3.22.2.2
Audit Information
 12 Months Ended
Sep. 30, 2022
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Santa Clara, CA
Auditor Firm ID 185
v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Assets    
Cash and cash equivalents $ 15,689 $ 16,487
Restricted cash equivalents—U.S. litigation escrow 1,449 894
Investment securities 2,833 2,025
Settlement receivable 1,932 1,758
Accounts receivable 2,020 1,968
Customer collateral 2,342 2,260
Current portion of client incentives 1,272 1,359
Prepaid expenses and other current assets 2,668 856
Total current assets 30,205 27,607
Investment securities 2,136 1,705
Client incentives 3,348 3,245
Property, equipment and technology, net 3,223 2,715
Goodwill 17,787 15,958
Intangible assets, net 25,065 27,664
Other assets 3,737 4,002
Total assets 85,501 82,896
Liabilities    
Accounts payable 340 266
Settlement payable 3,281 2,443
Customer collateral 2,342 2,260
Accrued compensation and benefits 1,359 1,211
Client incentives 6,099 5,243
Accrued liabilities 3,726 2,334
Current maturities of debt 2,250 999
Accrued litigation 1,456 983
Total current liabilities 20,853 15,739
Long-term debt 20,200 19,978
Deferred tax liabilities 5,332 6,128
Other liabilities 3,535 3,462
Total liabilities 49,920 45,307
Commitments and contingencies (Note 18 and Note 20)
Equity    
Preferred stock 2,324 3,080
Common stock and additional paid-in capital 19,545 18,855
Right to recover for covered losses (35) (133)
Accumulated income 16,116 15,351
Accumulated other comprehensive income (loss), net:    
Investment securities (106) (1)
Defined benefit pension and other postretirement plans (169) (49)
Derivative instruments 418 (257)
Foreign currency translation adjustments (2,512) 743
Total accumulated other comprehensive income (loss), net (2,369) 436
Total equity 35,581 37,589
Total liabilities and equity $ 85,501 $ 82,896
v3.22.2.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Sep. 30, 2022
Sep. 30, 2021
Preferred Stock    
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 25 25
Preferred stock, shares issued (in shares) 5 5
Preferred stock, shares outstanding (in shares) 5 5
Series A preferred stock    
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Series B preferred stock    
Preferred stock, shares issued (in shares) 2 2
Preferred stock, shares outstanding (in shares) 2 2
Series C preferred stock    
Preferred stock, shares issued (in shares) 3 3
Preferred stock, shares outstanding (in shares) 3 3
Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,003,341 2,003,341
Common stock, shares, issued (in shares) 1,890 1,932
Common stock, shares, outstanding (in shares) 1,890 1,932
Class A common stock    
Common stock, shares authorized (in shares) 2,001,622 2,001,622
Common stock, shares, issued (in shares) 1,635 1,677
Common stock, shares, outstanding (in shares) 1,635 1,677
Class B common stock    
Common stock, shares authorized (in shares) 622 622
Common stock, shares, issued (in shares) 245 245
Common stock, shares, outstanding (in shares) 245 245
Class C common stock    
Common stock, shares authorized (in shares) 1,097 1,097
Common stock, shares, issued (in shares) 10 10
Common stock, shares, outstanding (in shares) 10 10
v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Net revenues $ 29,310 $ 24,105 $ 21,846
Operating Expenses      
Personnel 4,990 4,240 3,785
Marketing 1,336 1,136 971
Network and processing 743 730 727
Professional fees 505 403 408
Depreciation and amortization 861 804 767
General and administrative 1,194 985 1,096
Litigation provision 868 3 11
Total operating expenses 10,497 8,301 7,765
Operating income 18,813 15,804 14,081
Non-operating Income (Expense)      
Interest expense (538) (513) (516)
Investment income (expense) and other (139) 772 225
Total non-operating income (expense) (677) 259 (291)
Income before income taxes 18,136 16,063 13,790
Income tax provision 3,179 3,752 2,924
Net income $ 14,957 $ 12,311 $ 10,866
Class A common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (in dollars per share) $ 7.01 $ 5.63 $ 4.90
Basic weighted-average shares outstanding (in shares) 1,651 1,691 1,697
Diluted earnings per share (in dollars per share) $ 7.00 $ 5.63 $ 4.89
Diluted weighted-average shares outstanding (in shares) 2,136 2,188 2,223
Class B common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (in dollars per share) $ 11.33 $ 9.14 $ 7.94
Basic weighted-average shares outstanding (in shares) 245 245 245
Diluted earnings per share (in dollars per share) $ 11.31 $ 9.13 $ 7.93
Diluted weighted-average shares outstanding (in shares) 245 245 245
Class C common stock      
Earnings Per Share [Abstract]      
Basic earnings per share (in dollars per share) $ 28.03 $ 22.53 $ 19.58
Basic weighted-average shares outstanding (in shares) 10 10 11
Diluted earnings per share (in dollars per share) $ 28.00 $ 22.51 $ 19.56
Diluted weighted-average shares outstanding (in shares) 10 10 11
v3.22.2.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Statement of Comprehensive Income [Abstract]      
Net income $ 14,957 $ 12,311 $ 10,866
Investment securities:      
Net unrealized gain (loss) (133) (4) 1
Income tax effect 28 1 0
Reclassification adjustments 0 (1) (3)
Income tax effect 0 0 1
Defined benefit pension and other postretirement plans:      
Net unrealized actuarial gain (loss) and prior service credit (cost) (168) 178 (7)
Income tax effect 38 (41) 1
Reclassification adjustments 13 13 18
Income tax effect (3) (3) (3)
Derivative instruments:      
Net unrealized gain (loss) 917 19 (547)
Income tax effect (177) (1) 119
Reclassification adjustments (67) 15 (81)
Income tax effect 2 1 19
Foreign currency translation adjustments (3,255) (95) 1,511
Other comprehensive income (loss), net of tax (2,805) 82 1,029
Comprehensive income $ 12,152 $ 12,393 $ 11,895
v3.22.2.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Series A convertible participating preferred stock
Preferred Stock
Preferred Stock
Series A convertible participating preferred stock
Common Stock and Additional Paid-in Capital
Right to Recover for Covered Losses
Accumulated Income
Accumulated Income
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net
Accumulated Other Comprehensive Income (Loss), Net
Cumulative Effect, Period of Adoption, Adjustment
Beginning Balance (in shares) at Sep. 30, 2019       5              
Beginning Balance at Sep. 30, 2019 $ 34,684 $ 0   $ 5,462   $ 16,541 $ (171) $ 13,502 $ 25 $ (650) $ (25)
Beginning Balance (in shares) at Sep. 30, 2019           1,974          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 10,866             10,866      
Other comprehensive income (loss), net of tax 1,029                 1,029  
VE territory covered losses incurred (37)           (37)        
Recovery through conversion rate adjustment 5     $ (164)     169        
Issuance of stock (in shares)         0 [1] 4          
Issuance of stock 190   $ (5)   $ (5) $ 190          
Conversion to class A common stock upon sales into public market (in shares)       0 [1]   6          
Conversion to class A common stock upon sales into public market 0     $ (207)   $ 207          
Share-based compensation, net of forfeitures 416         $ 416          
Restricted stock and performance-based shares settled in cash for taxes (in shares)           (1)          
Restricted stock and performance-based shares settled in cash for taxes $ (160)         $ (160)          
Dividends declared, quarterly, per share (in dollars per share) $ 0.30                    
Cash dividends declared and paid, at a quarterly amount per Class A share $ (2,664)             (2,664)      
Repurchase of class A common stock (in shares)           (44)          
Repurchase of class A common stock (8,114)         $ (473)   (7,641)      
Ending Balance (in shares) at Sep. 30, 2020       5              
Ending Balance (in shares) at Sep. 30, 2020           1,939          
Ending Balance at Sep. 30, 2020 36,210 $ 3   $ 5,086 [2]   $ 16,721 (39) 14,088 $ 3 354  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 12,311             12,311      
Other comprehensive income (loss), net of tax 82                 82  
VE territory covered losses incurred (147)           (147)        
Recovery through conversion rate adjustment (2)     $ (55)     53        
Issuance of stock (in shares)           5          
Issuance of stock 208         $ 208          
Conversion to class A common stock upon sales into public market (in shares)       0 [3]   29          
Conversion to class A common stock upon sales into public market 0     $ (1,951)   $ 1,951          
Share-based compensation, net of forfeitures 542         $ 542          
Restricted stock and performance-based shares settled in cash for taxes (in shares)           (1)          
Restricted stock and performance-based shares settled in cash for taxes $ (144)         $ (144)          
Dividends declared, quarterly, per share (in dollars per share) $ 0.32                    
Cash dividends declared and paid, at a quarterly amount per Class A share $ (2,798)             (2,798)      
Repurchase of class A common stock (in shares)           (40)          
Repurchase of class A common stock (8,676)         $ (423)   (8,253)      
Ending Balance (in shares) at Sep. 30, 2021     0 5              
Ending Balance (in shares) at Sep. 30, 2021           1,932          
Ending Balance at Sep. 30, 2021 37,589     $ 3,080 [2],[4]   $ 18,855 (133) 15,351   436  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 14,957             14,957      
Other comprehensive income (loss), net of tax (2,805)                 (2,805)  
VE territory covered losses incurred (43)           (43)        
Recovery through conversion rate adjustment 0     $ (141)     141        
Issuance of stock (in shares)         0 [5] 4          
Issuance of stock 196   $ (3)   $ (3) $ 196          
Conversion to class A common stock upon sales into public market (in shares)       0 [5]   10          
Conversion to class A common stock upon sales into public market 0     $ (612)   $ 612          
Share-based compensation, net of forfeitures 602         $ 602          
Restricted stock and performance-based shares settled in cash for taxes (in shares) [5]           0          
Restricted stock and performance-based shares settled in cash for taxes $ (120)         $ (120)          
Dividends declared, quarterly, per share (in dollars per share) $ 0.375                    
Cash dividends declared and paid, at a quarterly amount per Class A share $ (3,203)             (3,203)      
Repurchase of class A common stock (in shares)           (56)          
Repurchase of class A common stock (11,589)         $ (600)   (10,989)      
Ending Balance (in shares) at Sep. 30, 2022     0 5              
Ending Balance (in shares) at Sep. 30, 2022           1,890          
Ending Balance at Sep. 30, 2022 $ 35,581     $ 2,324 [4]   $ 19,545 $ (35) $ 16,116   $ (2,369)  
[1] Increase or decrease is less than one million shares.
[2] As of September 30, 2021 and 2020, the book value of series A preferred stock was $486 million and $2.4 billion, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
[3] Increase or decrease is less than one million shares.
[4] As of September 30, 2022 and 2021, the book value of series A preferred stock was $1.0 billion and $486 million, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
[5] Increase or decrease is less than one million shares.
v3.22.2.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Dividends paid, quarterly, per share (in dollars per share) $ 0.375 $ 0.32 $ 0.30
Dividends declared, quarterly, per share (in dollars per share) $ 0.375 $ 0.32 $ 0.30
Preferred stock $ 2,324 $ 3,080  
Series A convertible participating preferred stock      
Preferred stock $ 1,000 $ 486 $ 2,400
v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Operating Activities      
Net income $ 14,957 $ 12,311 $ 10,866
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Client incentives 10,295 8,367 6,664
Share-based compensation 602 542 416
Depreciation and amortization of property, equipment, technology and intangible assets 861 804 767
Deferred income taxes (336) 873 307
VE territory covered losses incurred (43) (147) (37)
(Gains) losses on equity investments, net 264 (712) (101)
Other (94) (109) (44)
Change in operating assets and liabilities:      
Settlement receivable (397) (468) 1,858
Accounts receivable (97) (343) (43)
Client incentives (9,351) (7,510) (8,081)
Other assets (666) (147) (402)
Accounts payable 67 88 21
Settlement payable 1,256 679 (2,384)
Accrued and other liabilities 1,055 929 923
Accrued litigation 476 70 (290)
Net cash provided by (used in) operating activities 18,849 15,227 10,440
Investing Activities      
Purchases of property, equipment and technology (970) (705) (736)
Investment securities:      
Purchases (5,997) (5,111) (2,075)
Proceeds from maturities and sales 4,585 5,701 4,510
Acquisitions, net of cash and restricted cash acquired (1,948) (75) (77)
Purchases of other investments (86) (71) (267)
Other investing activities 128 109 72
Net cash provided by (used in) investing activities (4,288) (152) 1,427
Financing Activities      
Repurchase of class A common stock (11,589) (8,676) (8,114)
Repayments of debt (1,000) (3,000) 0
Dividends paid (3,203) (2,798) (2,664)
Proceeds from issuance of senior notes 3,218 0 7,212
Cash proceeds from issuance of class A common stock under equity plans 196 208 190
Restricted stock and performance-based shares settled in cash for taxes (120) (144) (160)
Payments to settle derivative instruments 0 0 (333)
Other financing activities (198) 0 (99)
Net cash provided by (used in) financing activities (12,696) (14,410) (3,968)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (1,287) (37) 440
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 578 628 8,339
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 19,799 19,171 10,832
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year 20,377 19,799 19,171
Supplemental Disclosure      
Cash paid for income taxes, net 3,741 3,012 2,671
Interest payments on debt 607 643 537
Accruals related to purchases of property, equipment and technology $ 56 $ 41 $ 38
v3.22.2.2
Summary of Significant Accounting Policies
 12 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 1—Summary of Significant Accounting Policies
Organization. Visa Inc. (Visa or the Company) is a global payments technology company that facilitates global commerce and money movement across more than 200 countries and territories. Visa operates one of the world’s largest electronic payments network — VisaNet — which provides transaction processing services (primarily authorization, clearing and settlement). The Company offers products, solutions and services that facilitate secure, reliable and efficient money movement for participants in the ecosystem. Visa is not a financial institution and does not issue cards, extend credit or set rates and fees for account holders of Visa products. In most cases, account holder and merchant relationships belong to, and are managed by, Visa’s financial institution clients.
Consolidation and basis of presentation. The consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The Company consolidates its majority-owned and controlled entities, including variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its consolidated financial statements as of and for the periods presented. All significant intercompany accounts and transactions are eliminated in consolidation.
During fiscal 2022, economic sanctions were imposed on Russia, impacting Visa and its clients. The extent and severity of the sanctions impacted the Company’s operations and a reduction in Ruble liquidity impacted the Company’s ability to manage operational impact and related foreign currency risk. In March 2022, the Company suspended its operations in Russia. In addition, the Company deconsolidated its Russian subsidiary, resulting in a pre-tax loss of $35 million for the year ended September 30, 2022, which is included in general and administrative expense on the consolidated statements of operations.
The Company’s activities are interrelated, and each activity is dependent upon and supportive of the other. All significant operating decisions are based on analysis of Visa as a single global business. Accordingly, the Company has one reportable segment, Payment Services.
Use of estimates. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and will be recognized in the period in which such changes occur. Future actual results could differ materially from these estimates. The use of estimates in specific accounting policies is described further below as appropriate.
Cash, cash equivalents, restricted cash, and restricted cash equivalents. Cash and cash equivalents include cash and certain highly liquid investments with original maturities of 90 days or less from the date of purchase. Cash equivalents are primarily recorded at cost, which approximates fair value due to their generally short maturities. The Company defines restricted cash and restricted cash equivalents as cash and cash equivalents that cannot be withdrawn or used for general operating activities. See Note 4—Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents.
Restricted cash equivalents—U.S. litigation escrow. The Company maintains an escrow account from which monetary liabilities from settlements of, or judgments in, the U.S. covered litigation are paid. See Note 5—U.S. and Europe Retrospective Responsibility Plans and Note 20—Legal Matters for a discussion of the U.S. covered litigation. The escrow funds are held in money market investments, together with the interest earned, less applicable taxes payable, and classified as restricted cash equivalents on the consolidated balance sheets. Interest earned on escrow funds is included in non-operating income (expense) on the consolidated statements of operations.
Fair value. The Company measures certain financial assets and liabilities at fair value on a recurring basis. Certain non-financial assets such as goodwill, intangible assets and property, equipment and technology are subject to nonrecurring fair value measurements if they are deemed to be impaired. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are reported under a three-level valuation hierarchy. See Note 6—Fair Value Measurements and Investments.
Marketable equity securities. Marketable equity securities, which are reported in investment securities on the consolidated balance sheets, include investments in publicly traded companies as well as mutual fund investments
related to various employee compensation and benefit plans. Interest and dividend income as well as gains and losses, realized and unrealized, from changes in fair value are recorded in non-operating income (expense).
Trading activity in the mutual fund investments is at the direction of the Company’s employees. These investments are held in a trust and are not considered by the Company to be available for its operational or liquidity needs. The corresponding liability is reported in accrued liabilities on the consolidated balance sheets, with changes in the liability recognized in personnel expense on the consolidated statements of operations.
Available-for-sale debt securities. The Company’s investment in debt securities, which are classified as available-for-sale and reported in investment securities on the consolidated balance sheets, include U.S. government-sponsored debt securities and U.S. Treasury securities. These securities are recorded at cost at the time of purchase and are carried at fair value. The Company considers these securities to be available-for-sale to meet working capital and liquidity needs. Investments with original maturities of greater than 90 days and stated maturities of less than one year from the balance sheet date, or investments that the Company intends to sell within one year, are classified as current assets, while all other securities are classified as non-current assets. Unrealized gains and losses are reported in accumulated other comprehensive income (loss) on the consolidated balance sheets. The specific identification method is used to calculate realized gain or loss on the sale of securities, which is recorded in non-operating income (expense) on the consolidated statements of operations. Interest income is recognized when earned and is included in non-operating income (expense) on the consolidated statements of operations.
The Company evaluates its debt securities for impairment on an ongoing basis. When there has been a decline in fair value of a debt security below the amortized cost basis, the Company recognizes an impairment if: (1) it has the intent to sell the security; (2) it is more likely than not that it will be required to sell the security before recovery of the amortized cost basis; or (3) it does not expect to recover the entire amortized cost basis of the security. If the Company identifies that the decline in fair value has resulted from credit losses, the credit loss component is recognized as an allowance on the balance sheet and in non-operating income (expense) on the consolidated statements of operations. The non-credit loss component remains in accumulated other comprehensive income (loss) until realized from a sale or subsequent impairment.
Non-marketable equity securities. The Company’s non-marketable equity securities, which are reported in other assets on the consolidated balance sheets, include investments in privately held companies without readily determinable market values. All gains and losses on non-marketable equity securities, realized and unrealized, are recognized in non-operating income (expense).
The Company applies the equity method of accounting for investments in other entities when it does not have control but has the ability to exercise significant influence. Under the equity method, the Company’s share of each entity’s profit or loss is reflected in non-operating income (expense) on the consolidated statements of operations.
The Company applies the fair value measurement alternative for equity investments in other entities when the Company does not have the ability to exercise significant influence. The Company adjusts the carrying value of these equity securities to fair value when transactions for identical or similar investments of the same issuer are observable.
The Company regularly reviews investments accounted for under the equity method and the fair value measurement alternative for possible impairment, which generally involves an analysis of the facts and changes in circumstances influencing the investment, expectations of the entity’s cash flows and capital needs, and the viability of its business model.
Financial instruments. The Company considers the following to be financial instruments: cash, cash equivalents, restricted cash, restricted cash equivalents, investment securities, settlement receivable and payable, accounts receivable, customer collateral, non-marketable equity investments and derivative instruments. See Note 6—Fair Value Measurements and Investments.
Settlement receivable and payable. The Company operates systems for authorizing, clearing and settling payment transactions worldwide. Most U.S. dollar settlements with the Company’s financial institution clients are settled within the same day and do not result in a receivable or payable balance. Settlements in currencies other than the U.S. dollar generally remain outstanding for one to two business days, resulting in amounts due from and to clients. These amounts are presented as settlement receivable and settlement payable on the consolidated balance sheets.
Customer collateral. The Company holds cash deposits and other non-cash assets from certain clients in order to ensure their performance of settlement obligations arising from Visa payment services are processed in accordance with the Company’s operating rules. The cash collateral assets are restricted and fully offset by corresponding liabilities and both balances are presented on the consolidated balance sheets. Pledged securities are held by a custodian in an account under the Company’s name and ownership; however, the Company does not have the right to repledge these securities, but may sell these securities in the event of default by the client on its settlement obligations. Letters of credit are provided primarily by a client’s financial institutions to serve as irrevocable guarantees of payment. Guarantees are provided primarily by a client’s parent to secure the obligations of its subsidiaries. The Company routinely evaluates the financial viability of institutions providing the letters of credit and guarantees. See Note 12—Settlement Guarantee Management.
Guarantees and indemnifications. The Company recognizes an obligation at inception for guarantees and indemnifications that qualify for recognition, regardless of the probability of occurrence. The Company indemnifies its financial institution clients for settlement losses suffered due to the failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. The Company estimates expected credit losses and recognizes an allowance for those credit losses related to its settlement indemnification obligations. The estimated fair value of the liability for settlement indemnification is included in accrued liabilities on the consolidated balance sheets.
Property, equipment and technology, net. Property, equipment and technology are recorded at historical cost less accumulated depreciation and amortization, which are computed on a straight-line basis over the asset’s estimated useful life. Depreciation and amortization of technology, furniture, fixtures and equipment are computed over estimated useful lives ranging from 2 to 10 years. Leasehold improvements are amortized over the shorter of the useful life of the asset or lease term. Building improvements are depreciated between 3 and 40 years, and buildings are depreciated over 40 years. Improvements that increase functionality of the asset are capitalized and depreciated over the asset’s remaining useful life. Land and construction-in-progress are not depreciated. Fully depreciated assets are retained in property, equipment and technology, net, until removed from service.
Technology includes purchased and internally developed software, including technology assets obtained through acquisitions. Internally developed software represents software primarily used by the VisaNet electronic payments network. Internal and external costs incurred during the preliminary project stage are expensed as incurred. Qualifying costs incurred during the application development stage are capitalized. Once the project is substantially complete and ready for its intended use these costs are amortized on a straight-line basis over the technology’s estimated useful life. Acquired technology assets are initially recorded at fair value and amortized on a straight-line basis over the estimated useful life.
The Company evaluates the recoverability of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the sum of expected undiscounted net future cash flows is less than the carrying amount of an asset or asset group, an impairment loss is recognized to the extent that the carrying amount of the asset or asset group exceeds its fair value. See Note 7—Property, Equipment and Technology, Net.
Leases. The Company determines if an arrangement is a lease at its inception. Right-of-use (ROU) assets, and corresponding lease liabilities, are recognized at the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As a majority of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not record a ROU asset and corresponding liability for leases with terms of 12 months or less.
Lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company does not combine lease payments with non-lease components for any of its leases. Operating leases are recorded as ROU assets, which are included in other assets on the consolidated balance sheets. The current portion of lease liabilities are included in accrued liabilities and the long-term portion is included in other liabilities on the consolidated balance sheets. The Company’s lease cost is included in general and administrative expense in the consolidated statements of operations and consists of amounts recognized under lease agreements, adjusted for impairment and sublease income.
Business Combinations. The Company accounts for business combinations using the acquisition method and accordingly, the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree are generally recorded at their acquisition date fair values. The excess of the purchase price over the fair value of net assets acquired, including identifiable intangible assets, is recorded as goodwill. Acquisition-related costs are expensed in the periods in which the costs are incurred.
Intangible assets, net. The Company records identifiable intangible assets at fair value on the date of acquisition and evaluates the useful life of each asset.
Finite-lived intangible assets primarily consist of customer relationships and trade names obtained through acquisitions. Finite-lived intangible assets are amortized on a straight-line basis and are tested for recoverability if events or changes in circumstances indicate that their carrying amounts may not be recoverable. These intangibles have useful lives ranging from 3 to 15 years. See Note 8—Intangible Assets and Goodwill.
Indefinite-lived intangible assets consist of trade name, customer relationships and reacquired rights. Intangible assets with indefinite useful lives are not amortized but are evaluated for impairment annually or more frequently if events or changes in circumstances indicate that impairment may exist. The Company first assesses qualitative factors to determine whether it is necessary to perform a quantitative impairment test for indefinite-lived intangible assets. The Company assesses each category of indefinite-lived intangible assets for impairment on an aggregate basis, which may require the allocation of cash flows and/or an estimate of fair value to the assets or asset group. Impairment exists if the fair value of the indefinite-lived intangible asset is less than the carrying value. The Company relies on a number of factors when completing impairment assessments, including a review of discounted net future cash flows, business plans and the use of present value techniques.
The Company performed its annual impairment review of indefinite-lived intangible assets as of February 1, 2022, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicate that impairment of the Company’s indefinite-lived intangible assets existed as of September 30, 2022.
Goodwill. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Goodwill is not amortized but is evaluated for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that impairment may exist.
The Company performed its annual impairment review of goodwill as of February 1, 2022, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicate that impairment existed as of September 30, 2022.
Accrued litigation. The Company evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which it is a party and records a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These judgments are subjective and based on a number of factors, including the specifics of such legal or regulatory proceedings, the merits of the Company’s defenses and consultation with internal and external legal counsel. Actual outcomes of these legal and regulatory proceedings may differ materially from the Company’s estimates. The Company expenses legal costs as incurred in professional fees in the consolidated statements of operations. See Note 20—Legal Matters.
Revenue recognition. The Company’s net revenues are comprised principally of the following categories: service revenues, data processing revenues, international transaction revenues and other revenues, reduced by client incentives. As a payments network service provider, the Company’s obligation to the customer is to stand ready to provide continuous access to our payments network over the contractual term. Consideration is variable based primarily upon the amount and type of transactions and payments volume on Visa’s products. The Company recognizes revenue, net of sales and other similar taxes, as the payments network services are performed in an amount that reflects the consideration the Company expects to receive in exchange for those services. Fixed fees
for payments network services are generally recognized ratably over the related service period. The Company has elected the optional exemption to not disclose the remaining performance obligations related to payments network services and other performance obligations which are constrained by and dependent upon the future performance of its clients, which are variable in nature. The Company also recognizes revenues, net of sales and other similar taxes, from other value added services, including issuing solutions, acceptance solutions, risk and identity solutions, open banking and advisory services, as these value added services are performed.
Service revenues consist mainly of revenues earned for services provided in support of client usage of Visa payment services. Current quarter service revenues are primarily assessed using a calculation of current quarter’s pricing applied to the prior quarter’s payments volume. The Company also earns revenues from assessments designed to support ongoing acceptance and volume growth initiatives, which are recognized in the same period the related volume is transacted.
Data processing revenues consist of revenues earned for authorization, clearing, settlement, value added services, network access and other maintenance and support services that facilitate transaction and information processing among the Company’s clients globally. Data processing revenues are recognized in the same period the related transactions occur or services are performed.
International transaction revenues are earned for cross-border transaction processing and currency conversion activities. Cross-border transactions arise when the country of origin of the issuer or financial institution originating the transaction is different from that of the beneficiary. International transaction revenues are recognized in the same period the cross-border transactions occur or services are performed.
Other revenues consist mainly of value added services, license fees for use of the Visa brand or technology and fees for account holder services, certification and licensing. Other revenues are recognized in the same period the related transactions occur or services are performed.
Client incentives. The Company enters into long-term contracts with financial institution clients, merchants and strategic partners for various programs that provide cash and other incentives designed to increase revenue by growing payments volume, increasing Visa product acceptance, winning merchant routing transactions over to Visa’s network and driving innovation. Incentives are classified as reductions to revenues within client incentives, unless the incentive is a cash payment made in exchange for a distinct good or service provided by the customer, in which case the payment is classified as operating expense. The Company generally capitalizes upfront and fixed incentive payments under these agreements and amortizes the amounts as a reduction to revenues ratably over the contractual term. Incentives that are earned by the customer based on performance targets are recorded as reductions to revenues based on management's estimate of each client's future performance. These accruals are regularly reviewed and estimates of performance are adjusted, as appropriate, based on changes in performance expectations, actual client performance, amendments to existing contracts or the execution of new contracts.
Marketing. The Company expenses costs for the production of advertising as incurred. The cost of media advertising is expensed when the advertising takes place. Sponsorship costs are recognized over the period in which the Company benefits from the sponsorship rights. Promotional costs are expensed as incurred, when the related services are received, or when the related event occurs.
Income taxes. The Company’s income tax expense consists of two components: current and deferred. Current income tax expense represents taxes paid or payable for the current period. Deferred tax assets and liabilities are recognized to reflect the future tax consequences attributable to temporary differences between the financial statement carrying amounts and the respective tax basis of existing assets and liabilities, and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In assessing whether deferred tax assets are realizable, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. A valuation allowance is recorded for the portions that are not expected to be realized based on the level of historical taxable income, projections of future taxable income over the periods in which the temporary differences are deductible, and qualifying tax planning strategies.
Where interpretation of the tax law may be uncertain, the Company recognizes, measures and discloses income tax uncertainties. The Company accounts for interest expense and penalties related to uncertain tax positions in non-operating income (expense) in the consolidated statements of operations. The Company files a consolidated federal income tax return and, in certain states, combined state tax returns. The Company elects to
claim foreign tax credits in any given year if such election is beneficial to the Company. See Note 19—Income Taxes.
Pension and other postretirement benefit plans. The Company’s defined benefit pension and other postretirement benefit plans are actuarially evaluated, incorporating various critical assumptions including the discount rate and the expected rate of return on plan assets (for qualified pension plans). The discount rate is based on a cash flow matching analysis, with the projected benefit payments matching spot rates from a yield curve developed from high-quality corporate bonds. The expected rate of return on pension plan assets is primarily based on the targeted allocation, and evaluated for reasonableness by considering such factors as: (i) actual return on plan assets; (ii) historical rates of return on various asset classes in the portfolio; (iii) projections of returns on various asset classes; and (iv) current and prospective capital market conditions and economic forecasts. Any difference between actual and expected plan experience, including asset return experience, in excess of a 10% corridor is recognized in net periodic pension cost over the expected average employee future service period, which ranges from approximately 7 to 9 years for the U.S. and non-U.S. pension plans. Other assumptions involve demographic factors such as retirement age, mortality, attrition and the rate of compensation increases. The Company evaluates assumptions annually and modifies them as appropriate.
The Company recognizes settlement losses when it settles pension benefit obligations, including making lump-sum cash payments to plan participants in exchange for their rights to receive specified pension benefits, when certain thresholds are met. See Note 11—Pension and Other Postretirement Benefits.
Foreign currency remeasurement and translation. The Company’s functional currency is the U.S. dollar for the majority of its foreign operations except for Visa Europe Limited (Visa Europe) whose functional currency is the Euro. Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date. At period end, monetary assets and liabilities are remeasured to the functional currency using exchange rates in effect at the balance sheet dates. Non-monetary assets and liabilities are remeasured at historical exchange rates. Resulting foreign currency transaction gains and losses related to conversion and remeasurement are recorded in general and administrative expense in the consolidated statements of operations and were not material for fiscal 2022, 2021 and 2020.
Where a non-U.S. currency is the functional currency, translation from that functional currency to the U.S. dollar is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using an average exchange rate for the period. Resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss) on the consolidated balance sheets.
Derivative financial instruments. The Company uses foreign exchange forward derivative contracts to reduce its exposure to foreign currency rate changes on forecasted non-functional currency denominated operational cash flows. The terms of these derivative contracts designated as cash flow hedges are generally no more than 12 months. The Company uses regression analysis to assess hedge effectiveness prospectively and retrospectively. The effectiveness tests are performed on foreign exchange forward contracts based on changes in the spot rate of the derivative instrument compared to changes in the spot rate of the forecasted hedged transaction.
Derivatives are carried at fair value on a gross basis on the consolidated balance sheets. Gains and losses resulting from changes in the fair value of cash flow hedges are accounted for in accumulated other comprehensive income (loss) on the consolidated balance sheets. When the forecasted transaction occurs and is recognized in earnings, the amount in accumulated other comprehensive income (loss) related to that hedge is reclassified to the consolidated statements of operations in the corresponding account where revenue or expense is recorded. Forward points are excluded from effectiveness testing purposes and are reported in earnings. Derivatives designated as cash flow hedges are subject to master netting agreements, which provide the Company with a legal right to net settle multiple payable and receivable positions with the same counterparty, in a single currency through a single payment. However, the Company presents fair values on a gross basis on the consolidated balance sheets.

The Company holds foreign exchange forward contracts and other non-derivative financial instruments which were designated as a net investment hedge against a portion of the Company’s net investment in Visa Europe. The Company also holds interest rate and cross-currency swap agreements on a portion of the outstanding senior notes that allows the Company to manage its interest rate exposure through a combination of fixed and floating rates and reduce the overall cost of borrowing. The Company designated the interest rate swaps as a fair value hedge and the cross-currency swaps as a net investment hedge. Gains and losses related to changes in fair value hedges are
recognized in non-operating income (expense) along with a corresponding loss or gain related to the change in fair value of the underlying hedged item in the same line item in the consolidated statements of operations. Gains and losses related to changes in the fair value of net investment hedge derivatives and non-derivative financial instruments are recorded in other comprehensive income (loss). Amounts excluded from the effectiveness testing of net investment hedges are recognized in non-operating income (expense).
The Company utilizes foreign exchange derivative contracts to hedge against foreign currency exchange rate fluctuations related to certain monetary assets and liabilities denominated in foreign currencies. Gains and losses resulting from changes in the fair value of these derivative instruments not designated for hedge accounting are recorded in general and administrative expense for hedges of operating activities, or non-operating income (expense) for hedges of non-operating activities.
Cash flows associated with a cash flow hedge are classified as an operating activity on the consolidated statements of cash flows. Cash flows associated with a fair value hedge may be included in operating, investing or financing activities depending on the classification of the items being hedged. Cash flows associated with a net investment hedge are classified as an investing activity. See Note 13—Derivative and Non-derivative Financial Instruments.
Share-based compensation. The Company recognizes share-based compensation cost, net of estimated forfeitures, using the fair value method of accounting. The Company recognizes compensation cost for awards with only service conditions on a straight-line basis over the requisite service period, which is generally the vesting period. Compensation cost for performance-based awards is recognized on a graded-vesting basis. The amount is initially estimated based on target performance and is adjusted as appropriate based on management’s best estimate throughout the performance period. See Note 17—Share-based Compensation.
Earnings per share. The Company calculates earnings per share using the two-class method to reflect the different rights of each class and series of outstanding common stock. The dilutive effect of incremental common stock equivalents is reflected in diluted earnings per share by application of the treasury stock method.
Basic earnings per share is computed by dividing net income available to each class of shares by the weighted-average number of shares of common stock and participating securities outstanding during the period. Participating securities include the Company’s series A, B and C preferred stock and restricted stock units (RSUs) that contain non-forfeitable rights to dividends or dividend equivalents. Net income is allocated to each class of common stock and participating securities based on its proportional ownership on an as-converted basis. The weighted-average number of shares outstanding of each class of common stock reflects changes in ownership over the periods presented. See Note 15—Stockholders’ Equity.
Diluted earnings per share is computed by dividing net income available by the weighted-average number of shares of common stock outstanding, participating securities outstanding and, if dilutive, potential class A common stock equivalent shares outstanding during the period. Dilutive class A common stock equivalents may consist of: (1) shares of class A common stock issuable upon the conversion of series A, B and C preferred stock and class B and C common stock based on the conversion rates in effect through the period, and (2) incremental shares of class A common stock calculated by applying the treasury stock method to the assumed exercise of employee stock options, the assumed purchase of stock under the Company’s Employee Stock Purchase Plan and the assumed vesting of unearned performance shares. See Note 16—Earnings Per Share.
Recently Adopted Accounting Pronouncements
In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the existing guidance and making other minor improvements. The Company adopted this guidance effective October 1, 2021. The adoption did not have a material impact on the consolidated financial statements.
In January 2020, the FASB issued ASU 2020-01, which clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for purposes of applying the fair value measurement alternative. The Company adopted this guidance effective October 1, 2021. The adoption did not have a material impact on the consolidated financial statements.
v3.22.2.2
Acquisitions
 12 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions
Note 2—Acquisitions
Currencycloud
On December 20, 2021, Visa acquired The Currency Cloud Group Limited (Currencycloud), a global platform that enables financial institutions and fintechs to provide innovative cross-border foreign exchange solutions, for a total purchase consideration of $893 million (which includes the fair value of Visa’s previously held equity interest in Currencycloud). The Company allocated $150 million of the purchase consideration to technology, customer relationships, other net assets acquired and deferred tax liabilities and the remaining $743 million to goodwill.
Tink
On March 10, 2022, Visa acquired 100% of the share capital of Tink AB (Tink) for $1.9 billion in cash. Tink is an open banking platform that enables financial institutions, fintechs and merchants to build financial products and services and move money. The acquisition is expected to help accelerate the adoption of open banking around the world by providing a secure, reliable platform for innovation.
Total purchase consideration has been allocated to the assets acquired and liabilities assumed. If additional information becomes available, the Company may further revise the purchase price allocation as soon as practicable, but no later than one year from the acquisition date; however, at this time, material changes are not expected.
The following table summarizes the purchase price allocation for Tink:
Purchase Price AllocationWeighted-Average Useful Life
 (in millions)(in years)
Technology$245 4
Customer relationships90 6
Deferred tax liabilities(71)
Other net assets acquired (liabilities assumed)25 
Goodwill1,577 
Total$1,866 5
Goodwill is primarily attributable to synergies expected to be achieved from the acquisition and the assembled workforce. None of the goodwill recognized is expected to be deductible for tax purposes.
v3.22.2.2
Revenues
 12 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenues
Note 3—Revenues
The nature, amount, timing and uncertainty of the Company’s revenues and cash flows and how they are affected by economic factors are most appropriately depicted through the Company’s revenue categories and geographical markets. The following tables disaggregate the Company’s net revenues by revenue category and by geography:
For the Years Ended
September 30,
202220212020
(in millions)
Service revenues$13,361 $11,475 $9,804 
Data processing revenues14,438 12,792 10,975 
International transaction revenues9,815 6,530 6,299 
Other revenues1,991 1,675 1,432 
Client incentives(10,295)(8,367)(6,664)
Net revenues$29,310 $24,105 $21,846 
For the Years Ended
September 30,
202220212020
(in millions)
U.S.$12,851 $11,160 $10,125 
International16,459 12,945 11,721 
Net revenues$29,310 $24,105 $21,846 
Remaining performance obligations are comprised of deferred revenues and unbilled contract revenues that will be invoiced and recognized as revenues in future periods primarily related to value added services. As of September 30, 2022, the remaining performance obligations were $1.8 billion. The Company expects approximately half to be recognized as revenue in the next two years and the remaining thereafter. However, the amount and timing of revenue recognition is affected by several factors, including contract modifications and terminations, which could impact the estimate of amounts allocated to remaining performance obligations and when such revenues could be recognized.
v3.22.2.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
 12 Months Ended
Sep. 30, 2022
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Note 4—Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported in the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
September 30,
20222021
(in millions)
Cash and cash equivalents$15,689 $16,487 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,449 894 
Customer collateral
2,342 2,260 
Prepaid expenses and other current assets
897 158 
Cash, cash equivalents, restricted cash and restricted cash equivalents$20,377 $19,799 
Prepaid expenses and other current assets include restricted cash and restricted cash equivalents related to funds held by the Company, primarily from Currencycloud, on behalf of clients in segregated bank accounts that generally cannot be withdrawn or used for general operating activities. These amounts are fully offset by corresponding liabilities recorded in accrued liabilities on the Company’s consolidated balance sheets.
v3.22.2.2
U.S. and Europe Retrospective Responsibility Plans
 12 Months Ended
Sep. 30, 2022
Retrospective Responsibility Plans [Abstract]  
U.S. and Europe Retrospective Responsibility Plans
Note 5—U.S. and Europe Retrospective Responsibility Plans
U.S. Retrospective Responsibility Plan
The Company has established several related mechanisms designed to address potential liability under certain litigation referred to as the “U.S. covered litigation.” These mechanisms are included in and referred to as the U.S. retrospective responsibility plan and consist of a U.S. litigation escrow agreement, the conversion feature of the Company’s shares of class B common stock, the indemnification obligations of the Visa U.S.A. Inc. (Visa U.S.A.) members, an interchange judgment sharing agreement, a loss sharing agreement and an omnibus agreement, as amended.
U.S. covered litigation consists of a number of matters that have been settled or otherwise fully or substantially resolved, as well as the following:
•the Interchange Multidistrict Litigation. In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, 1:05-md-01720-JG-JO (E.D.N.Y.) or MDL 1720, including all cases currently included in MDL 1720, any other case that includes claims for damages relating to the period prior to the Company’s IPO that has been or is transferred for coordinated or consolidated pre-trial proceedings at any time to MDL
1720 by the Judicial Panel on Multidistrict Litigation or otherwise included at any time in MDL 1720 by order of any court of competent jurisdiction; 
•any claim that challenges the reorganization or the consummation thereof; provided that such claim is transferred for coordinated or consolidated pre-trial proceedings at any time to MDL 1720 by the Judicial Panel on Multidistrict Litigation or otherwise included at any time in MDL 1720 by order of any court of competent jurisdiction; and
•any case brought after October 22, 2015 by a merchant that opted out of the Rule 23(b)(3) settlement class in MDL 1720 that arises out of facts or circumstances substantially similar to those alleged in MDL 1720 and that is not transferred to or otherwise included in MDL 1720. See Note 20—Legal Matters.
U.S. litigation escrow agreement. In accordance with the U.S. litigation escrow agreement, the Company maintains an escrow account, from which settlements of, or judgments in, the U.S. covered litigation are paid. The amount of the escrow is determined by the board of directors and the Company’s litigation committee, all members of which are affiliated with, or act for, certain Visa U.S.A. members. The accrual related to the U.S. covered litigation could be either higher or lower than the U.S. litigation escrow account balance. See Note 20—Legal Matters.
The following table presents the changes in the restricted cash equivalents—U.S. litigation escrow account:
20222021
 (in millions)
Balance at beginning of period$894 $901 
Deposits into the litigation escrow account850 — 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(295)(7)
Balance at end of period$1,449 $894 
(1)These payments are associated with the interchange multidistrict litigation. See Note 20—Legal Matters.
Conversion feature. Under the terms of the plan, when the Company funds the U.S. litigation escrow account, the value of the Company’s class B common stock are subject to dilution through a downward adjustment to the rate at which shares of class B common stock convert into shares of class A common stock. This has the same economic effect on earnings per share as repurchasing the Company’s class A common stock, because it reduces the class B conversion rate and consequently the as-converted class A common stock share count with each deposit amount. See Note 15—Stockholders’ Equity.
Indemnification obligations. To the extent that amounts available under the U.S. litigation escrow arrangement and other agreements in the plan are insufficient to fully resolve the U.S. covered litigation, the Company will use commercially reasonable efforts to enforce the indemnification obligations of Visa U.S.A.’s members for such excess amounts, including but not limited to enforcing indemnification obligations pursuant to Visa U.S.A.’s certificate of incorporation and bylaws and in accordance with their membership agreements.
Interchange judgment sharing agreement. Visa U.S.A. and Visa International Service Association (Visa International) have entered into an interchange judgment sharing agreement with certain Visa U.S.A. members that have been named as defendants in the interchange multidistrict litigation, which is described in Note 20—Legal Matters. Under this judgment sharing agreement, Visa U.S.A. members that are signatories will pay their membership proportion of the amount of a final judgment not allocated to the conduct of Mastercard.
Loss sharing agreement. Visa has entered into a loss sharing agreement with Visa U.S.A., Visa International and certain Visa U.S.A. members. The loss sharing agreement provides for the indemnification of Visa U.S.A., Visa International and, in certain circumstances, Visa with respect to: (i) the amount of a final judgment paid by Visa U.S.A. or Visa International in the U.S. covered litigation after the operation of the interchange judgment sharing agreement, plus any amounts reimbursable to the interchange judgment sharing agreement signatories; or (ii) the damages portion of a settlement of a U.S. covered litigation that is approved as required under Visa U.S.A.’s certificate of incorporation by the vote of Visa U.S.A.’s specified voting members. The several obligation of each bank that is a party to the loss sharing agreement will equal the amount of any final judgment enforceable against Visa U.S.A., Visa International or any other signatory to the interchange judgment sharing agreement, or the amount
of any approved settlement of a U.S. covered litigation, multiplied by such bank’s then-current membership proportion as calculated in accordance with Visa U.S.A.’s certificate of incorporation.
On October 22, 2015, Visa entered into an amendment to the loss sharing agreement. The amendment includes within the scope of U.S. covered litigation any action brought after the amendment by an opt-out from the Rule 23(b)(3) Settlement Class in MDL 1720 that arises out of facts or circumstances substantially similar to those alleged in MDL 1720 and that is not transferred to or otherwise included in MDL 1720. On the same date, Visa entered into amendments to the interchange judgment sharing agreement and omnibus agreement that include any such action within the scope of those agreements as well.
Omnibus agreement. Visa entered into an omnibus agreement with Mastercard and certain Visa U.S.A. members that confirmed and memorialized the signatories’ intentions with respect to the loss sharing agreement, the interchange judgment sharing agreement and other agreements relating to the interchange multidistrict litigation, see Note 20—Legal Matters. Under the omnibus agreement, the monetary portion of any settlement of the interchange multidistrict litigation covered by the omnibus agreement would be divided into a Mastercard portion at 33.3333% and a Visa portion at 66.6667%. In addition, the monetary portion of any judgment assigned to Visa-related claims in accordance with the omnibus agreement would be treated as a Visa portion. Visa would have no liability for the monetary portion of any judgment assigned to Mastercard-related claims in accordance with the omnibus agreement, and if a judgment is not assigned to Visa-related claims or Mastercard-related claims in accordance with the omnibus agreement, then any monetary liability would be divided into a Mastercard portion at 33.3333% and a Visa portion at 66.6667%. The Visa portion of a settlement or judgment covered by the omnibus agreement would be allocated in accordance with specified provisions of the Company’s U.S. retrospective responsibility plan. The litigation provision on the consolidated statements of operations was not impacted by the execution of the omnibus agreement.
On August 26, 2014, Visa entered into an amendment to the omnibus agreement. The omnibus amendment makes applicable to certain settlements in opt-out cases in the interchange multidistrict litigation the settlement-sharing provisions of the omnibus agreement, pursuant to which the monetary portion of any settlement of the interchange multidistrict litigation covered by the omnibus agreement would be divided into a Mastercard portion at 33.3333% and a Visa portion at 66.6667%. The omnibus amendment also provides that in the event of termination of the class settlement agreement, Visa and Mastercard would make mutually acceptable arrangements so that Visa shall have received two-thirds and Mastercard shall have received one-third of the total of (i) the sums paid to defendants as a result of the termination of the settlement agreement and (ii) the takedown payments previously made to defendants.
Europe Retrospective Responsibility Plan
UK loss sharing agreement. The Company has entered into a loss sharing agreement with Visa Europe and certain of Visa Europe’s member financial institutions located in the United Kingdom (UK LSA members). Each of the UK LSA members has agreed, on a several and not joint basis, to compensate the Company for certain losses which may be incurred by the Company, Visa Europe or their affiliates as a result of certain existing and potential litigation relating to the setting and implementation of domestic multilateral interchange fee rates in the United Kingdom prior to the closing of the Visa Europe acquisition (Closing), subject to the terms and conditions set forth therein and, with respect to each UK LSA member, up to a maximum amount of the up-front cash consideration received by such UK LSA member. The UK LSA members’ obligations under the UK loss sharing agreement are conditional upon, among other things, either (a) losses valued in excess of the sterling equivalent on June 21, 2016 of €1.0 billion having arisen in UK covered claims (and such losses having reduced the conversion rate of the series B preferred stock accordingly), or (b) the conversion rate of the series B preferred stock having been reduced to zero pursuant to losses arising in claims relating to multilateral interchange fee rate setting in the Visa Europe territory.
Litigation management deed. The Company has entered into a litigation management deed with Visa Europe which sets forth the agreed upon procedures for the management of the VE territory covered litigation, the allocation of losses resulting from this litigation (VE territory covered losses) between the series B and C preferred stock, and any accelerated conversion or reduction in the conversion rate of the shares of series B and C preferred stock. The litigation management deed applies only to VE territory covered litigation (and resultant losses and liabilities). The litigation management deed provides that the Company will generally control the conduct of the VE territory covered litigation, subject to certain obligations to report and consult with the litigation management committee for VE territory covered litigation (VE Territory Litigation Management Committee). The VE Territory Litigation Management
Committee, which is composed of representatives of certain Visa Europe members, has also been granted consent rights to approve certain material decisions in relation to the VE territory covered litigation.
The Company obtained certain protections for VE territory covered losses through the series B and C preferred stock, the UK loss sharing agreement, and the litigation management deed, referred to as the “Europe retrospective responsibility plan.” The plan covers VE territory covered litigation (and resultant liabilities and losses) relating to the covered period, which generally refers to the period before the Closing. Visa’s protection from the plan is further limited to 70% of any liabilities where the claim relates to inter-regional multilateral interchange fee rates where the issuer is located outside the Visa Europe territory, and the merchant is located within the Visa Europe territory. The plan does not protect the Company in Europe against all types of litigation or remedies or fines imposed in competition law enforcement proceedings, only the interchange litigation specifically covered by the plan’s terms.
Unlike the U.S. retrospective responsibility plan, the Europe retrospective responsibility plan does not have an escrow account that is used to fund settlements or judgments. The Company is entitled to recover VE territory covered losses through a periodic adjustment to the class A common stock conversion rates applicable to the series B and C preferred stock. The total amount of protection available through the preferred stock component of the Europe retrospective responsibility plan is equivalent to the as-converted value of the preferred stock, which can be calculated at any point in time as the product of: (a) the outstanding number of shares of preferred stock; (b) the current conversion rate applicable to each class of preferred stock; and (c) Visa’s class A common stock price. This amount differs from the value of the preferred stock recorded within stockholders’ equity on the Company’s consolidated balance sheets. The book value of the preferred stock reflects its historical value recorded at the Closing less VE territory covered losses recovered through a reduction of the applicable conversion rate. The book value does not reflect changes in the underlying class A common stock price subsequent to the Closing.
Visa Inc. net income is not impacted by VE territory covered losses as long as the as-converted value of the preferred stock is greater than the covered loss. VE territory covered losses are recorded when the loss is deemed to be probable and reasonably estimable, or in the case of attorney’s fees, when incurred. Concurrently, the Company records a reduction to stockholders’ equity, which represents the Company’s right to recover such losses through adjustments to the conversion rate applicable to the preferred stock. The reduction to stockholders’ equity is recorded in a contra-equity account referred to as “right to recover for covered losses.”
VE territory covered losses may be recorded before the corresponding adjustment to the applicable conversion rate is effected. Adjustments to the conversion rate may be executed once in any six-month period unless a single, individual loss greater than €20 million is incurred, in which case, the six-month limitation does not apply. When the adjustment to the conversion rate is made, the amount previously recorded in “right to recover for covered losses” as contra-equity is then recorded against the book value of the preferred stock within stockholders’ equity.
As required by the litigation management deed, on June 21, 2022, the sixth anniversary of the Visa Europe acquisition, Visa, in consultation with the VE Territory Litigation Management Committee, carried out a release assessment. After the completion of this assessment, the Company released $3.5 billion of the as-converted value from its series B and C preferred stock and issued 176,655 shares of series A preferred stock on July 29, 2022 (Sixth Anniversary Release). Each holder of a share of series B and C preferred stock received a number of series A preferred stock equal to the applicable conversion adjustment divided by 100. The Company paid $3 million in cash in lieu of issuing fractional shares of series A preferred stock. Each share of series A preferred stock will be automatically converted into 100 shares of class A common stock in connection with a sale to a person eligible to hold class A common stock in accordance with Visa’s certificate of incorporation. See Note 15—Stockholders’ Equity.
The following table presents the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity:
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2021$1,071 $1,523 $(133)
VE territory covered losses incurred(1)
— — (43)
Recovery through conversion rate adjustment(135)(6)141 
Sixth Anniversary Release(476)(705)— 
Balance as of September 30, 2022$460 $812 $(35)
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2020$1,106 $1,543 $(39)
VE territory covered losses incurred(1)
— — (147)
Recovery through conversion rate adjustment(2)
(35)(20)53 
Balance as of September 30, 2021$1,071 $1,523 $(133)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 20—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded in stockholders’ equity within the Company’s consolidated balance sheets:
September 30,
20222021
As-converted Value of Preferred Stock(1),(2)
Book Value of Preferred Stock(1)
As-converted Value of Preferred Stock(1),(3)
Book Value of Preferred Stock(1)
(in millions)
Series B preferred stock$1,309 $460 $3,493 $1,071 
Series C preferred stock2,044 812 4,806 1,523 
Total3,353 1,272 8,299 2,594 
Less: right to recover for covered losses(35)(35)(133)(133)
Total recovery for covered losses available$3,318 $1,237 $8,166 $2,461 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)As of September 30, 2022, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.971 and 3.645, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $177.65, Visa’s class A common stock closing stock price.
(3)As of September 30, 2021, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 6.321 and 6.834, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $222.75, Visa’s class A common stock closing stock price.
v3.22.2.2
Fair Value Measurements and Investments
 12 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Investments
Note 6—Fair Value Measurements and Investments
The Company measures certain assets and liabilities at fair value. See Note 1—Summary of Significant Accounting Policies.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Fair Value Measurements at September 30
Using Inputs Considered as
Level 1Level 2
2022202120222021
(in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds$11,736 $11,779 $— $— 
U.S. government-sponsored debt securities— — — 100 
U.S. Treasury securities799 2,400 — — 
Investment securities:
Marketable equity securities437 490 — — 
U.S. government-sponsored debt securities— — 457 245 
U.S. Treasury securities4,005 2,985 — — 
Other current and non-current assets:
Money market funds22 4 — — 
Derivative instruments— — 1,131 410 
Total$16,999 $17,658 $1,588 $755 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability$146 $167 $— $— 
Accrued and other liabilities:
Derivative instruments— — 418 109 
Total$146 $167 $418 $109 
Level 1 assets and liabilities. Money market funds, marketable equity securities and U.S. Treasury securities are classified as Level 1 within the fair value hierarchy, as fair value is based on unadjusted quoted prices in active markets for identical assets. The Company’s deferred compensation liability is measured at fair value based on marketable equity securities held under the deferred compensation plan.
Level 2 assets and liabilities. The fair value of U.S. government-sponsored debt securities, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. Derivative instruments are valued using inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
U.S. Government-sponsored Debt Securities and U.S. Treasury Securities
The amortized cost, unrealized gains and losses and fair value of debt securities were as follows:
September 30, 2022
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$458 $— $(1)$457 
U.S. Treasury securities4,937 — (133)4,804 
Total$5,395 $— $(134)$5,261 
As of September 30, 2021, gross unrealized gains and losses were not material.
Debt securities with continuous unrealized losses for less than 12 months were as follows:
September 30, 2022
Fair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$408 $(1)
U.S. Treasury securities3,507 (133)
Total$3,915 $(134)
The unrealized losses were primarily attributable to changes in interest rates.
The stated maturities of debt securities were as follows:
September 30,
2022
 (in millions)
Due within one year$3,125 
Due after 1 year through 5 years2,136 
Total$5,261 
Assets Measured at Fair Value on a Non-recurring Basis
Non-marketable equity securities. The Company’s non-marketable equity securities are investments in privately held companies without readily determinable market values. These investments are classified as Level 3 due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment.
The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of September 30, 2022 including cumulative unrealized gains and losses:
September 30,
2022
(in millions)
Initial cost basis$734 
Adjustments:
Upward adjustments810 
Downward adjustments (including impairment)(349)
Carrying amount, end of period$1,195 
Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of September 30, 2022 and 2021 were as follows:
For the Years Ended
September 30,
20222021
(in millions)
Upward adjustments$231 $484 
Downward adjustments (including impairment)$(341)$(3)
Investment Income (Expense)
Investment income (expense) is recorded as non-operating income (expense) in the Company’s consolidated statements of operations and consisted of the following:
 For the Years Ended
September 30,
 202220212020
 (in millions)
Interest and dividend income on cash and investments$69 $(16)$80 
Realized gains (losses), net on debt securities— — 4 
Equity securities:
Unrealized gains (losses), net(364)721 115 
Realized gains (losses), net68 26 1 
Investment income (expense)$(227)$731 $200 
Other Fair Value Disclosures
Debt. Debt instruments are measured at amortized cost on the Company’s consolidated balance sheets. The fair value of the debt instruments, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy. As of September 30, 2022, the carrying value and estimated fair value of debt was $22.5 billion and $19.9 billion, respectively. As of September 30, 2021, the carrying value and estimated fair value of debt was $21.0 billion and $22.5 billion, respectively.
Other financial instruments not measured at fair value. At September 30, 2022, the carrying values of settlement receivable and payable and customer collateral are an approximate fair value due to their generally short maturities. If measured at fair value in the financial statements, these financial instruments would be classified as Level 2 in the fair value hierarchy.
v3.22.2.2
Property, Equipment and Technology, Net
 12 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Equipment and Technology, Net
Note 7—Property, Equipment and Technology, Net
Property, equipment and technology, net, consisted of the following:
September 30,
20222021
 (in millions)
Land$72 $72 
Buildings and building improvements1,003 1,008 
Furniture, equipment and leasehold improvements2,230 2,048 
Construction-in-progress285 226 
Technology5,291 4,320 
Total property, equipment and technology8,881 7,674 
Accumulated depreciation and amortization(5,658)(4,959)
Property, equipment and technology, net$3,223 $2,715 
At September 30, 2022 and 2021, accumulated amortization for technology was $3.7 billion and $3.2 billion, respectively.
At September 30, 2022, estimated future amortization expense on technology was as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
 (in millions)
Estimated future amortization expense$538 $437 $339 $188 $66 $15 $1,583 
For fiscal 2022, 2021 and 2020, depreciation and amortization expense related to property, equipment and technology was $771 million, $721 million and $687 million, respectively.
v3.22.2.2
Intangible Assets and Goodwill
 12 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Note 8—Intangible Assets and Goodwill
Indefinite-lived and finite-lived intangible assets consisted of the following: 
September 30,
20222021
 GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
 (in millions)
Finite-lived intangible assets:
Customer relationships$836 $(513)$323 $726 $(440)$286 
Trade names195 (159)36 199 (148)51 
Reseller relationships95 (95)— 95 (92)3 
Other16 (16)— 16 (15)1 
Total finite-lived intangible assets1,142 (783)359 1,036 (695)341 
Indefinite-lived intangible assets:
Customer relationships and reacquired rights
20,622 — 20,622 23,239 — 23,239 
Visa trade name4,084 — 4,084 4,084 — 4,084 
Total indefinite-lived intangible assets24,706 — 24,706 27,323 — 27,323 
Total intangible assets$25,848 $(783)$25,065 $28,359 $(695)$27,664 
For fiscal 2022, 2021 and 2020, amortization expense related to finite-lived intangible assets was $90 million, $83 million and $80 million, respectively.
At September 30, 2022, estimated future amortization expense on finite-lived intangible assets was as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Estimated future amortization expense$76 $74 $59 $42 $40 $68 $359 
The changes in goodwill during the years ended September 30, 2022 and 2021 were as follows:
20222021
(in millions)
Goodwill, beginning of period
$15,958 $15,910 
Goodwill from acquisitions, net of adjustments
2,320 63 
Foreign currency translation
(491)(15)
Goodwill, end of period$17,787 $15,958 
During fiscal 2022, 2021 or 2020, there was no impairment related to the Company’s intangible assets and goodwill.
v3.22.2.2
Leases
 12 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases
Note 9—Leases
The Company entered into various operating lease agreements primarily for real estate. The Company's leases have original lease periods expiring between fiscal 2023 and 2033. Many leases include one or more options to renew. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Payments under the Company’s lease arrangements are generally fixed. At September 30, 2022, the Company had no finance leases.
At September 30, 2022 and 2021, ROU assets included in other assets on the consolidated balance sheets was $480 million and $515 million, respectively. At September 30, 2022 and 2021, the current portion of lease liabilities included in accrued liabilities on the consolidated balance sheets was $98 million and $103 million, respectively, and the long-term portion included in other liabilities was $422 million and $471 million, respectively.
During fiscal 2022 and 2021, total operating lease cost was $117 million and $111 million, respectively. At September 30, 2022 and 2021, the weighted-average remaining lease term for operating leases was approximately 6 years and the weighted-average discount rate for operating leases was 2.15% and 2.23%, respectively.
At September 30, 2022, the present value of future minimum lease payments was as follows:
September 30,
2022
(in millions)
2023$102 
2024107 
202591 
202678 
202758 
Thereafter121 
Total undiscounted lease payments557 
Less: imputed interest(37)
Present value of lease liabilities$520 
During fiscal 2022 and 2021, ROU assets obtained in exchange for lease liabilities was $74 million and $96 million, respectively.
At September 30, 2022, the Company had additional operating leases that had not yet commenced with lease obligations of $531 million. These operating leases will commence between fiscal 2023 and 2024 with non-cancellable lease terms of 1 to 15 years.
v3.22.2.2
Debt
 12 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Debt
Note 10—Debt
The Company had outstanding debt as follows:
September 30,
20222021
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
2.15% Senior Notes due September 2022
$— $1,000 2.30 %
2.80% Senior Notes due December 2022
2,250 2,250 2.89 %
3.15% Senior Notes due December 2025
4,000 4,000 3.26 %
1.90% Senior Notes due April 2027
1,500 1,500 2.02 %
0.75% Senior Notes due August 2027
500 500 0.84 %
2.75% Senior Notes due September 2027
750 750 2.91 %
2.05% Senior Notes due April 2030
1,500 1,500 2.13 %
1.10% Senior Notes due February 2031
1,000 1,000 1.20 %
4.15% Senior Notes due December 2035
1,500 1,500 4.23 %
2.70% Senior Notes due April 2040
1,000 1,000 2.80 %
4.30% Senior Notes due December 2045
3,500 3,500 4.37 %
3.65% Senior Notes due September 2047
750 750 3.73 %
2.00% Senior Notes due August 2050
1,750 1,750 2.09 %
Euro notes
1.50% Senior Notes due June 2026
1,325 — 1.71 %
2.00% Senior Notes due June 2029
982 — 2.13 %
2.375% Senior Notes due June 2034
638 — 2.53 %
Total debt22,945 21,000 
Unamortized discounts and debt issuance costs(173)(161)
Hedge accounting fair value adjustments(2)
(322)138 
Total carrying value of debt$22,450 $20,977 
Reported as:
Current maturities of debt$2,250 $999 
Long-term debt20,200 19,978 
Total carrying value of debt$22,450 $20,977 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes. See Note 1—Summary of Significant Accounting Policies and Note 13—Derivative and Non-derivative Financial Instruments.
Senior Notes
In June 2022, the Company issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.0 billion ($3.2 billion), with maturities ranging between 4 and 12 years. The June 2026 Notes, 2029 Notes and 2034 Notes, or collectively, the "Euro Notes", have interest rates of 1.50%, 2.00% and 2.375%, respectively. Interest on the Euro Notes is payable annually on June 15 of each year, commencing June 15, 2023. The net aggregate proceeds, after deducting discounts and debt issuance costs, were approximately €3.0 billion ($3.2 billion). The Company will use the net proceeds for general corporate purposes, which may include, among other things, the refinancing of existing indebtedness.
During the year ended September 30, 2022, the Company repaid $1.0 billion of principal upon maturity of its senior notes.
The Company’s outstanding senior notes are senior unsecured obligations of the Company, ranking equally and ratably among themselves and with the Company’s existing and future unsecured and unsubordinated debt. The senior notes are not secured by any assets of the Company and are not guaranteed by any of the Company’s subsidiaries. As of September 30, 2022, the Company was in compliance with all related covenants. Each series of senior notes may be redeemed as a whole or in part at the Company’s option at any time at specified redemption prices. In addition, each series of the Euro Notes may be redeemed as a whole at specified redemption prices upon the occurrence of certain U.S. tax events.
At September 30, 2022, future principal payments on the Company’s outstanding debt were as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Future principal payments$2,250 $— $— $5,325 $2,750 $12,620 $22,945 
Commercial Paper Program
Visa maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. Under the program, the Company is authorized to issue up to $3.0 billion in outstanding notes, with maturities up to 397 days from the date of issuance. During the year ended September 30, 2022, the Company issued and repaid $950 million of commercial paper. As of September 30, 2022 and 2021, the Company had no outstanding obligations under the program.
Credit Facility
On July 25, 2019, the Company entered into an amended and restated credit agreement for a 5 year, unsecured $5.0 billion revolving credit facility (Credit Facility), which will expire on July 25, 2024. Interest on borrowings denominated in U.S. dollars under the Credit Facility will be charged at the London Interbank Offered Rate or an alternative base rate, in each case plus applicable margins that fluctuate based on the applicable credit rating of the Company's senior unsecured long-term debt. The Company has agreed to pay a commitment fee which will fluctuate based on such applicable rating of the Company. On October 6, 2021, the Company further amended the Credit Facility to ensure that effective January 1, 2022, interest on borrowings denominated in British Pound Sterling and Euros will be charged at the Sterling Overnight Index Average Reference Rate and the Euro Short-Term Rate respectively or the applicable successor rates, plus applicable margins. The Credit Facility is not governed by any financial covenants. This Credit Facility is maintained to ensure the integrity of the payment card settlement process and for general corporate purposes. As of September 30, 2022 and 2021, the Company had no amounts outstanding under the Credit Facility.
v3.22.2.2
Pension and Other Postretirement Benefits
 12 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits
Note 11—Pension and Other Postretirement Benefits
The Company sponsors various qualified and non-qualified defined benefit pension and other postretirement benefit plans that provide for retirement and medical benefits for all eligible employees residing in the U.S. The Company also sponsors other pension benefit plans that provide benefits for internationally-based employees at certain non-U.S. locations.
Disclosures presented below include the U.S. pension plans and the non-U.S. plans. Disclosures relating to other U.S. postretirement benefit plans and certain non-U.S. pension benefit plans are not included as they are immaterial, individually and in aggregate. The Company uses a September 30 measurement date for its pension and other postretirement benefit plans.
Defined benefit pension plans. The U.S. pension benefits under the defined benefit pension plan were earned based on a cash balance formula. An employee’s cash balance account was credited with an amount equal to 6% of eligible compensation plus interest based on 30-year Treasury securities. In October 2015, the Company’s board of directors approved an amendment of the U.S. qualified defined benefit pension plan such that the Company discontinued employer provided credits after December 31, 2015. Plan participants continue to earn interest credits on existing balances at the time of the freeze.
The funding policy for the U.S. pension benefits is to contribute annually no less than the minimum required contribution under ERISA.
Under the Visa Europe plans, retirement benefits are provided based on the participants’ final pensionable pay and are currently closed to new entrants. However, future benefits continue to accrue for active participants. The funding policy is to contribute in accordance with the appropriate funding requirements agreed with the trustees of the UK pension plans. Additional funding amounts may be agreed to with the UK pension plan trustees.
Summary of Plan Activities
A reconciliation of pension benefit obligations, plan assets, funded status and amounts recognized in the Company’s consolidated balance sheets were as follows:
U.S. PlansNon-U.S. Plans
 September 30,September 30,
 2022202120222021
 (in millions)
Change in pension benefit obligation:
Benefit obligation at beginning of period
$877 $920 $520 $563 
Service cost— — 3 4 
Interest cost24 25 10 10 
Actuarial (gain) loss(185)(8)(174)(53)
Benefit payments(53)(60)(14)(28)
Foreign currency exchange rate changes
— — (67)24 
Benefit obligation at end of period$663 $877 $278 $520 
Accumulated benefit obligation$663 $877 $278 $520 
Change in plan assets:
Fair value of plan assets at beginning of period
$1,288 $1,142 $548 $525 
Actual return on plan assets(275)205 (151)9 
Company contribution— 1 20 21 
Benefit payments(53)(60)(14)(28)
Foreign currency exchange rate changes
— — (76)21 
Fair value of plan assets at end of period
$960 $1,288 $327 $548 
Funded status at end of period$297 $411 $49 $28 
Recognized in consolidated balance sheets:
Non-current asset$302 $417 $51 $30 
Current liability(1)(1)— — 
Non-current liability(4)(5)(2)(2)
Funded status at end of period$297 $411 $49 $28 
Amounts recognized in accumulated other comprehensive income (loss) before tax consist of the following: 
U.S. PlansNon-U.S. Plans
September 30,September 30,
 2022202120222021
 (in millions)
Net actuarial (gain) loss$150 $(11)$35 $47 
At September 30, 2022 and 2021, the Company’s aggregated pension plan assets exceeded the benefit obligations. For individual plans where the benefit obligations exceeded plan assets, the projected benefit obligation, the accumulated benefit obligation and plan assets were not material at September 30, 2022 and 2021.
Net periodic benefit cost consists of the following:
U.S. PlansNon-U.S. Plans
For the Years Ended September 30,
 202220212020202220212020
 (in millions)
Service cost$— $— $— $3 $4 $4 
Interest cost24 25 28 10 10 10 
Expected return on assets(80)(70)(72)(18)(17)(15)
Amortization of actuarial (gain) loss — 3 6 — 4 2 
Settlement (gain) loss10 (1)8 — 2 — 
Total net periodic benefit cost$(46)$(43)$(30)$(5)$3 $1 
The service cost component of net periodic benefit cost is presented in personnel expenses while the other components are presented in other non-operating income (expense) on the Company’s consolidated statements of operations.
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) consist of the following: 
U.S. PlansNon-U.S. Plans
For the Years Ended September 30,
202220212020202220212020
 (in millions)
Current year actuarial (gain) loss $170 $(143)$(5)$(5)$(45)$21 
Amortization of actuarial gain (loss) — (3)(14)— (6)(2)
Total recognized in other comprehensive (income) loss$170 $(146)$(19)$(5)$(51)$19 
Total recognized in net periodic benefit cost and other comprehensive (income) loss$124 $(189)$(49)$(10)$(48)$20 

For the year ended September 30, 2022, the net loss was primarily attributable to market-driven decrease in the fair value of plan assets offset by an increase in the discount rate. For the year ended September 30, 2021, the net gain was primarily attributable to market-driven increase in the fair value of plan assets combined with an increase in the discount rate.
Weighted-average actuarial assumptions used to estimate the benefit obligation and net periodic benefit cost were as follows:
U.S. PlansNon-U.S. Plans
 For the Years Ended September 30,
 202220212020202220212020
Discount rate for benefit obligation:
Pension5.52 %2.98 %2.88 %5.00 %2.10 %1.60 %
Discount rate for net periodic benefit cost:
Pension2.98 %2.88 %3.27 %2.10 %1.60 %1.80 %
Expected long-term rate of return on plan assets6.50 %6.50 %7.00 %3.50 %3.50 %3.00 %
Rate of increase(1) in compensation levels for:
Benefit obligationNA NA NA2.50 %2.50 %2.50 %
Net periodic benefit costNA NA NA2.50 %2.50 %2.50 %
(1)This assumption is not applicable for the U.S. plans due to the amendment of the U.S. qualified defined benefit pension plan in October 2015, which discontinued the employer provided credits effective after December 31, 2015.
The U.S. plans include a cash balance plan with promised interest crediting rates. Under the plan rules, for fiscal 2022, 2021 and 2020, the weighted average interest crediting rates for the benefit obligation were 4.52%,1.98% and 1.88%, respectively, and the weighted average interest crediting rates for the benefit cost set at the beginning of the periods were 1.98%, 1.88% and 2.26%, respectively.
Pension Plan Assets
Pension plan assets are managed with a long-term perspective to ensure that there is an adequate level of assets to support benefit payments to participants over the life of the pension plan. Pension plan assets are managed by external investment managers. Investment manager performance is measured against benchmarks for each asset class on a quarterly basis. An independent consultant assists management with investment manager selections and performance evaluations.
Pension plan assets are broadly diversified to maintain a prudent level of risk and to provide adequate liquidity for benefit payments. The Company generally evaluates and rebalances pension plan assets, as appropriate, to ensure that allocations are consistent with its investment strategy and within target allocation ranges. For U.S. pension plan assets, the Company’s investment strategy is to invest in the following: equity securities of 25% to 55%, fixed income securities of 53% to 63% and other, primarily consisting of cash equivalents to meet near term expected benefit payments and expenses, of up to 4%. At September 30, 2022, U.S. pension plan asset allocations for these categories were 39%, 57% and 4%, respectively, which were within target allocation ranges.
For non-U.S. pension plan assets, the Company’s investment strategy is to invest in the following: equity funds of 5%, interest and inflation hedging assets of 40% and other of 55%, consisting of cash and cash equivalents, corporate debt and asset-backed securities, multi-asset funds and property. At September 30, 2022, non-U.S. pension plan asset allocations for these categories were 4%, 38% and 58%, respectively, which generally aligned with the target allocations.
The following tables set forth by level, within the fair value hierarchy, the pension plans’ investments at fair value, including the impact of transactions that were not settled at the end of September:
U.S. Plans
Fair Value Measurements at September 30 Using Inputs Considered as
Level 1Level 2Level 3Total
20222021202220212022202120222021
(in millions)
Cash equivalents$40 $20 $— $— $— $— $40 $20 
Collective investment funds— — 319 548 — — 319 548 
Corporate debt securities— — 392 455 — — 392 455 
U.S. government-sponsored debt securities
— — 22 28 — — 22 28 
U.S. Treasury securities
101 105 — — — — 101 105 
Asset-backed securities— — — — 29 31 29 31 
Equity securities57 101 — — — — 57 101 
Total
$198 $226 $733 $1,031 $29 $31 $960 $1,288 
Non-U.S. Plans
Fair Value Measurements at September 30 Using Inputs Considered as
Level 1Level 2Level 3Total
20222021202220212022202120222021
(in millions)
Cash and cash equivalents$3 $18 $— $— $— $— $3 $18 
Corporate debt securities— — 91 51 — — 91 51 
Asset-backed securities— — — — 45 78 45 78 
Equity funds— — 13 68 — — 13 68 
Multi-asset securities(1)
— — 175 333 — — 175 333 
Total
$3 $18 $279 $452 $45 $78 $327 $548 
(1)Multi-asset securities represent pension plan assets that are invested in funds comprised of broad ranges of assets.
Level 1 assets. Cash equivalents, which comprise of money market funds, U.S. Treasury securities and equity securities are classified as Level 1 within the fair value hierarchy, as fair value is based on unadjusted quoted prices in active markets for identical assets.
Level 2 assets. Collective investment funds are unregistered investment vehicles that generally commingle the assets of multiple fiduciary clients, such as pension and other employee benefit plans, to invest in a portfolio of stocks, bonds or other securities. Although the collective investment funds held by the plan are ultimately invested in publicly traded equity and debt securities, their own unit values are not directly observable, and therefore they are classified as Level 2. Equity funds are investments in mutual funds that in-turn ultimately invest in equity securities of various jurisdictions. These are classified as level 2 as the equity funds held by the plan are not actively traded but the fair value of underlying securities are generally, although not always, determined with observable data and inputs. The fair values of corporate debt, multi-asset and U.S. government-sponsored securities are based on quoted prices in active markets for similar, not identical, assets.
Level 3 assets. Asset-backed securities are bonds that are backed by various types of assets and primarily consist of mortgage-backed securities. Asset-backed securities are classified as Level 3 due to a lack of observable inputs in measuring fair value.
Cash Flows
Expected future employer contributions and benefit payments are as follows:
U.S. PlansNon-U.S. Plans
(in millions)
Expected employer contributions
2023$1 $17 
Expected benefit payments
2023$109 $6 
2024$75 $6 
2025$71 $6 
2026$66 $6 
2027$63 $7 
2028-2032$245 $37 
Other Benefits
The Company sponsors a defined contribution plan, or 401(k) plan, that covers substantially all of its employees residing in the U.S. In fiscal 2022, 2021 and 2020, personnel expenses included $161 million, $141 million, and $140 million, respectively, attributable to the Company’s employees under the 401(k) plan. The Company’s contributions to this 401(k) plan are funded on a current basis, and the related expenses are recognized in the period that the payroll expenses are incurred.
v3.22.2.2
Settlement Guarantee Management
 12 Months Ended
Sep. 30, 2022
Settlement Guarantee Management [Abstract]  
Settlement Guarantee Management
Note 12—Settlement Guarantee Management
The Company indemnifies its clients for settlement losses suffered due to failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. This indemnification creates settlement risk for the Company due to the difference in timing between the date of a payment transaction and the date of subsequent settlement.
Historically, the Company has experienced minimal losses as a result of its settlement risk guarantee. However, the Company’s future obligations, which could be material under its guarantees, are not determinable as they are dependent upon future events.
The Company’s settlement exposure is limited to the amount of unsettled Visa payment transactions at any point in time, which vary significantly day to day. During the year ended September 30, 2022, the Company’s maximum daily settlement exposure was $116.3 billion and the average daily settlement exposure was $71.8 billion.
The Company maintains and regularly reviews global settlement risk policies and procedures to manage settlement exposure, which may require clients to post collateral if certain credit standards are not met. The Company held the following collateral to manage settlement exposure:
September 30,
20222021
 (in millions)
Restricted cash and restricted cash equivalents$2,342 $2,260 
Pledged securities at market value213 254 
Letters of credit1,582 1,518 
Guarantees950 758 
Total$5,087 $4,790 
v3.22.2.2
Derivative and Non-derivative Financial Instruments
 12 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative and Non-derivative Financial Instruments
Note 13—Derivative and Non-derivative Financial Instruments
As of September 30, 2022 and 2021, the aggregate notional amount of the Company’s derivative contracts outstanding in its hedge program was $11.9 billion and $11.2 billion, respectively. As of September 30, 2022 and 2021, the aggregate notional amount of the derivative contracts not designated as hedging instruments was $1.5 billion and $0.8 billion, respectively.
The following table shows the Company’s derivative instruments at gross fair value:
September 30,
Balance Sheet Location20222021
(in millions)
Assets
Designated as Hedging Instrument:
Foreign exchange contractsPrepaid expenses and other current assets and other assets$1,096 $270 
Interest rate swapOther assets$— $138 
Not Designated as Hedging Instrument:
Foreign exchange contractsPrepaid expenses and other current assets$35 $2 
Liabilities
Designated as Hedging Instrument:
Foreign exchange contractsAccrued liabilities$49 $13 
Cross-currency swapOther liabilities$— $90 
Interest rate swapOther liabilities$322 $— 
Not Designated as Hedging Instrument:
Foreign exchange contractsAccrued liabilities$47 $6 
Cash flow hedges. For fiscal 2022, the Company recognized $190 million of pre-tax net gains from cash flow hedges in other comprehensive income (loss). The amounts recognized in other comprehensive income (loss) were not material for fiscal 2021 and 2020.
The Company estimates that $140 million of pre-tax net gains related to cash flow hedges recorded in accumulated other comprehensive income (loss) as of September 30, 2022, will be reclassified into the consolidated statement of operations within the next 12 months.
Net investment hedges. For fiscal 2022, 2021 and 2020, the Company recognized pre-tax net gains (losses) in other comprehensive income (loss) related to net investment hedges of $845 million, $20 million and ($318) million, respectively. For fiscal 2022, 2021 and 2020, the Company recognized an increase in earnings of $151 million, $156 million and $150 million, respectively, related to excluded forward points and interest differentials from forward contracts and swap agreements.
Non-derivative financial instrument designated as net investment hedge. As of September 30, 2022, the Company had designated €1.2 billion of the €3.0 billion Euro Notes issued in June 2022, a non-derivative financial instrument, as a hedge against a portion of the Company’s Euro-denominated net investment in Visa Europe. The foreign currency gains and losses associated with this hedging activity are recorded as foreign currency translation adjustments in accumulated other comprehensive income (loss).
Credit and market risks. The Company’s derivative financial instruments are subject to both credit and market risk. The Company monitors the credit-worthiness of the financial institutions that are counterparties to its derivative financial instruments and does not consider the risks of counterparty nonperformance to be significant. The Company mitigates this risk by entering into master netting agreements, and such agreements require each party to post collateral against its net liability position with the respective counterparty. As of September 30, 2022, the Company has received collateral of $348 million from counterparties, which is included in accrued liabilities in the consolidated balance sheets, and posted collateral of $62 million, which is included in prepaid expenses and other
current assets in the consolidated balance sheets. Notwithstanding the Company’s efforts to manage foreign exchange risk, there can be no absolute assurance that its hedging activities will adequately protect against the risks associated with foreign currency fluctuations. As of September 30, 2022, credit and market risks related to derivative instruments were not considered significant.
v3.22.2.2
Enterprise-wide Disclosures and Concentration of Business
 12 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Enterprise-wide Disclosures and Concentration of Business
Note 14—Enterprise-wide Disclosures and Concentration of Business
The Company’s long-lived net property and equipment and ROU assets are classified by major geographic areas as follows:
September 30,
20222021
 (in millions)
U.S.$1,312 $1,286 
International531 596 
Total$1,843 $1,882 
Revenues by geographic market is primarily based on the location of the issuing financial institution. Net revenues earned in the U.S. were approximately 44% of total net revenues in fiscal 2022 and 46% of total net revenues in each of fiscal 2021 and fiscal 2020. No individual country, other than the U.S., generated 10% or more of total net revenues in these years.
In fiscal 2022 and fiscal 2021, the Company had one client that accounted for 10% and 11% of its total net revenues, respectively. In fiscal 2020, the Company had two clients that accounted for 11% and 10% of its total net revenues, respectively.
v3.22.2.2
Stockholders' Equity
 12 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Stockholders' Equity
Note 15—Stockholders’ Equity
As-converted class A common stock. The number of shares of each series and class, and the number of shares of class A common stock on an as-converted basis were as follows:
September 30,
20222021
Shares
Outstanding		Conversion Rate Into Class A Common Stock
As-converted Class A Common Stock(1)
Shares
Outstanding		Conversion Rate Into Class A Common Stock
As-converted Class A Common Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 16 — 
(2)
100.0000 7 
Series B preferred stock2 2.9710 7 2 6.3210 16 
Series C preferred stock3 3.6450 12 3 6.8340 22 
Class A common stock(3)
1,635 — 1,635 1,677 — 1,677 
Class B common stock245 1.6059 
(4)
394 245 1.6228 
(4)
398 
Class C common stock10 4.0000 39 10 4.0000 41 
Total2,103 2,161 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)Class A common stock shares outstanding reflect repurchases that settled on or before September 30, 2022 and 2021.
(4)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Series A preferred stock issuance. In July 2022, the Company issued 176,655 shares of series A preferred stock in connection with the Sixth Anniversary Release. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
Reduction in as-converted shares. Under the terms of the Europe retrospective responsibility plan, the Company is entitled to recover VE territory covered losses through periodic adjustments to the class A common stock conversion rates applicable to the series B and C preferred stock and is required to undertake periodic release assessments following the anniversary of the Visa Europe acquisition to determine if value should be released from the series B and C preferred stock. The recovery and any releases of value have the same economic effect on earnings per share as repurchasing the Company’s class A common stock, because it reduces the series B and C preferred stock conversion rates and consequently, reduces the as-converted class A common stock share count. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments and completed its Sixth Anniversary Release in fiscal 2022 and fourth anniversary release in fiscal 2020 (collectively Anniversary Releases):
For the Years Ended September 30,
202220212020
Series BSeries CSeries BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock8 10 — 
(1)
— 
(1)
16 22 
Effective price per share(2)
$197.93 $197.50 $220.84 $220.71 $194.31 $194.33 
Recovery through conversion rate adjustment
$135 $6 $35 $20 $72 $92 
Anniversary Releases$1,510 $1,982 $— $— $3,084 $4,216 
(1)The reduction in equivalent number of shares of class A common stock was less than one million shares.
(2)Effective price per share for each adjustment made during the year is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock. Effective price per share for each fiscal year is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Under the terms of the U.S. retrospective responsibility plan, when the Company funds the U.S. litigation escrow account, the value of the Company’s class B common stock is subject to dilution through a downward adjustment to the rate at which shares of class B common stock convert into shares of class A common stock. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table presents the reduction in the number of as-converted class B common stock after deposits into the U.S. litigation escrow account for fiscal 2022. There was no comparable adjustment recorded for class B common stock for fiscal 2021 and 2020.
For the Year Ended
September 30, 2022
(in millions, except per share data)
Reduction in equivalent number of class A common stock4 
Effective price per share(1)
$205.06 
Deposits under the U.S. retrospective responsibility plan$850 
(1)Effective price per share is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation. Effective price per share for the fiscal year is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Common stock repurchases. The following table presents share repurchases in the open market:
For the Years Ended September 30,
202220212020
(in millions, except per share data)
Shares repurchased in the open market(1)
56 40 44 
Average repurchase price per share(2)
$206.47 $219.03 $183.00 
Total cost(2)
$11,589 $8,676 $8,114 
(1)Shares repurchased in the open market reflect repurchases that settled during fiscal 2022, 2021 and 2020. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share and total cost are calculated based on unrounded numbers.
In January 2021, the Company’s board of directors authorized a $8.0 billion share repurchase program and in December 2021, authorized an additional $12.0 billion share repurchase program (December 2021 Program). As of September 30, 2022, the Company’s December 2021 Program had remaining authorized funds of $5.2 billion. All share repurchase programs authorized prior to the December 2021 Program have been completed. In October 2022, the Company’s board of directors authorized a new $12.0 billion share repurchase program. These authorizations have no expiration date.
Dividends. In fiscal 2022, 2021 and 2020, the Company declared and paid dividends of $3.2 billion, $2.8 billion and $2.7 billion, respectively. On October 21, 2022, the Company’s board of directors declared a quarterly cash dividend of $0.45 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), which will be paid on December 1, 2022, to all holders of record as of November 11, 2022.
Class B common stock. The class B common stock is not convertible or transferable until the date on which all of the U.S. covered litigation has been finally resolved. This transfer restriction is subject to limited exceptions, including transfers to other holders of class B common stock. After termination of the restrictions, the class B common stock will be convertible into class A common stock if transferred to a person that was not a Visa Member (as defined in the current certificate of incorporation) or similar person or an affiliate of a Visa Member or similar person. Upon such transfer, each share of class B common stock will automatically convert into a number of shares of class A common stock based upon the applicable conversion rate in effect at the time of such transfer.
Adjustment of the conversion rate occurs upon: (i) the completion of any follow-on offering of class A common stock completed to increase the size of the U.S. litigation escrow account (or any cash deposit by the Company in lieu thereof) resulting in a further corresponding decrease in the conversion rate; or (ii) the final resolution of the U.S. covered litigation and the release of funds remaining on deposit in the U.S. litigation escrow account to the Company resulting in a corresponding increase in the conversion rate. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
Class C common stock. There are no existing transfer restrictions on class C common stock. As of September 30, 2022, a total of 142 million shares have been converted from class C to class A common stock upon their sale into the public market.
Preferred stock. In connection with the Visa Europe acquisition, three series of preferred stock of the Company were created. Upon issuance, all of the preferred stock participate on an as-converted basis in regular quarterly cash dividends declared on the Company’s class A common stock. Preferred stock may be issued as redeemable or non-redeemable, and has preference over any class of common stock with respect to the payment of dividends and distribution of the Company’s assets in the event of a liquidation or dissolution.
The series B and C preferred stock is convertible upon certain conditions into shares of class A common stock or series A preferred stock. The shares of series B and C preferred stock are subject to restrictions on transfer and may become convertible in stages based on developments in the VE territory covered litigation. The shares of series B and C preferred stock will become fully convertible on the 12th anniversary of the closing of the Visa Europe acquisition, subject only to a holdback to cover any then-pending claims. Upon any such conversion of the series B and C preferred stock (whether by such 12th anniversary, or thereafter with respect to claims pending on such anniversary), the conversion rate would be adjusted downward and the holder would receive either class A common stock or series A preferred stock (for those who are not eligible to hold class A common stock pursuant to the Company’s charter). The conversion rates may also be reduced from time to time to offset certain liabilities.
The series A preferred stock, generally designed to be economically equivalent to the Company’s class A common stock, is freely transferable and each share of series A preferred stock will automatically convert into 100 shares of class A common stock upon a transfer to any holder that is eligible to hold class A common stock under the charter. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
Voting rights. The holders of the series B and C preferred stock have no right to vote on any matters, except for certain defined matters, including, in specified circumstances, any consolidation, merger, combination or similar transaction of the Company in which the preferred stockholders would either (i) receive shares of common stock or other equity securities of the Company with preferences, rights and privileges that are not substantially identical to the preferences, rights and privileges of the applicable series of preferred stock or (ii) receive securities, cash or other property that is different from what the Company’s class A common stockholders would receive. With respect to these limited matters on which the holders of preferred stock may vote, approval by the preferred stockholders requires the affirmative vote of the outstanding voting power of each such series of preferred stock, each such series voting as a single class. In either case, the series B and C preferred stockholders are entitled to cast a number of votes equal to the number of shares held by each such holder. Holders of the series A preferred stock, upon issuance at conversion, will have similar voting rights to the rights of the holders of the series B and C preferred stock.
Class A common stockholders have the right to vote on all matters on which stockholders generally are entitled to vote. Class B and C common stockholders have no right to vote on any matters, except for certain defined matters, including (i) any decision to exit the core payments business, in which case the class B and C common stockholders will vote together with the class A common stockholders in a single class, and (ii) in specified circumstances, any consolidation, merger, combination or similar transaction of the Company, in which case the class B and C common stockholders will vote together as a single class. In either case, the class B and C common stockholders are entitled to cast a number of votes equal to the number of shares of class B or C common stock held multiplied by the applicable conversion rate in effect on the record date. Holders of the Company’s common stock have no right to vote on any amendment to the current certificate of incorporation that relates solely to any series of preferred stock.
v3.22.2.2
Earnings Per Share
 12 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share
Note 16—Earnings Per Share
The following table presents earnings per share for fiscal 2022: 
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$11,569 1,651 $7.01 $14,957 2,136 (3)$7.00 
Class B common stock2,781 245 $11.33 2,778 245 $11.31 
Class C common stock280 10 $28.03 280 10 $28.00 
Participating securities327 Not presentedNot presented326 Not presentedNot presented
Net income$14,957 
The following table presents earnings per share for fiscal 2021:
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$9,527 1,691 $5.63 $12,311 2,188 (3)$5.63 
Class B common stock2,244 245 $9.14 2,242 245 $9.13 
Class C common stock237 10 $22.53 236 10 $22.51 
Participating securities303 Not presentedNot presented303 Not presentedNot presented
Net income$12,311 
The following table presents earnings per share for fiscal 2020:
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,310 1,697 $4.90 $10,866 2,223 (3)$4.89 
Class B common stock1,951 245 $7.94 1,948 245 $7.93 
Class C common stock214 11 $19.58 214 11 $19.56 
Participating securities391 Not presentedNot presented391 Not presentedNot presented
Net income$10,866 
(1)Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 397 million for each of fiscal 2022 and 398 million for fiscal 2021 and 2020. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 40 million, 42 million and 44 million for fiscal 2022, 2021 and 2020, respectively. The weighted-average number of shares of preferred stock included within participating securities was 8 million, 12 million and 1 million of as-converted series A preferred stock for fiscal 2022, 2021 and 2020, respectively, 14 million, 16 million and 32 million of as-converted series B preferred stock for fiscal 2022, 2021 and 2020, and 20 million, 22 million and 43 million of as-converted series C preferred stock for fiscal 2022, 2021 and 2020, respectively.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Weighted-average diluted shares outstanding are calculated on an as-converted basis, and include incremental common stock equivalents, as calculated under the treasury stock method. The common stock equivalents are not material for each of fiscal 2022, 2021 and 2020.
v3.22.2.2
Share-based Compensation
 12 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation
Note 17—Share-based Compensation
2007 Equity Incentive Compensation Plan
The Company’s 2007 Equity Incentive Compensation Plan, or the EIP, authorizes the compensation committee of the board of directors to grant non-qualified stock options (options), RSUs, performance-based shares and restricted stock awards to its employees and non-employee directors. On January 26, 2021, the EIP was amended to extend the termination date from January 31, 2022 to January 26, 2031 and reduce the number of shares of class A common stock authorized for grant from 236 million to 198 million. Shares available for grant may be either authorized and unissued or previously issued shares subsequently acquired by the Company. Under the amended EIP, shares withheld for taxes, or shares used to pay the exercise or purchase price of an award, shall not again be available for future grant. The EIP will continue to be in effect until all of the common stock available under the EIP is delivered and all restrictions on those shares have lapsed, unless the EIP is terminated earlier by the Company’s board of directors.
For fiscal 2022, 2021 and 2020, the Company recorded share-based compensation cost related to the EIP of $571 million, $518 million and $393 million, respectively, in personnel expense on its consolidated statements of operations. The related tax benefits for fiscal 2022, 2021 and 2020 were $82 million, $73 million and $63 million, respectively.
Options
Options issued under the EIP expire 10 years from the date of grant and primarily vest ratably over 3 years from the date of grant, subject to earlier vesting in full under certain conditions.
The fair value of each stock option was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
For the Years Ended September 30,
202220212020
Expected term (in years)(1)
4.114.074.03
Risk-free rate of return(2)
1.1 %0.3 %1.6 %
Expected volatility(3)
27.1 %25.1 %18.7 %
Expected dividend yield(4)
0.7 %0.6 %0.7 %
Fair value per option granted$43.16$39.51$29.37
(1)Based on Visa’s historical exercise experience.
(2)Based on the zero-coupon U.S. Treasury constant maturity yield curve, continuously compounded over the expected term of the awards.
(3)Based on the Company’s implied and historical volatilities.
(4)Based on the Company’s annual dividend rate on the date of grant.
The following table summarizes the Company’s option activity:
OptionsWeighted-
Average
Exercise Price
Per Share		Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 20215,839,779 $134.56 
Granted961,570 $200.86 
Forfeited(134,247)$199.34 
Expired(1,264)$207.57 
Exercised(497,214)$104.15 
Outstanding at September 30, 20226,168,624 $145.92 6.09$250 
Options exercisable at September 30, 20224,299,455 $122.49 5.14$250 
Options exercisable and expected to vest at September 30, 2022(2)
6,122,504 $145.50 6.07$250 
(1)Calculated using the closing stock price on the last trading day of fiscal 2022 of $177.65, less the option exercise price, multiplied by the number of instruments.
(2)Applied a forfeiture rate to unvested options outstanding at September 30, 2022 to estimate the options expected to vest in the future.
During fiscal 2022, 2021 and 2020, the total intrinsic value of options exercised was $56 million, $124 million and $146 million, respectively, and the tax benefit realized was $11 million, $23 million and $31 million, respectively. As of September 30, 2022, there was $22 million of total unrecognized compensation cost related to unvested options, which is expected to be recognized over a weighted-average period of approximately 0.38 year.
Restricted Stock Units
RSUs issued under the EIP primarily vest ratably over 3 years from the date of grant, subject to earlier vesting in full under certain conditions. Upon vesting, RSUs can be settled in class A common stock on a one-for-one basis or in cash, or a combination thereof, at the Company’s option. The Company does not currently intend to settle any RSUs in cash. During the vesting period, RSU award recipients are eligible to receive dividend equivalents, but do not participate in the voting rights granted to the holders of the underlying class A common stock.
The fair value and compensation cost before estimated forfeitures for RSUs is calculated using the closing price of class A common stock on the date of grant. During fiscal 2022, 2021 and 2020, the weighted-average grant date fair value of RSUs granted was $204.73, $209.00 and $183.61, respectively. During fiscal 2022, 2021 and 2020, the total grant date fair value of RSUs vested was $380 million, $331 million and $284 million, respectively.
The following table summarizes the Company’s RSU activity:
 UnitsWeighted-
Average
Grant Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 20214,526,448 $188.16 
Granted
3,967,313 $204.73 
Vested
(2,166,662)$175.23 
Forfeited
(532,779)$200.24 
Outstanding at September 30, 20225,794,320 $203.23 1.07$1,029 
(1)Calculated by multiplying the closing stock price on the last trading day of fiscal 2022 of $177.65 by the number of instruments.
At September 30, 2022, there was $692 million of total unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 1.07 years.
Performance-based Shares
For the Company’s performance-based shares, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of both performance and market conditions. The performance condition is based on the Company’s earnings per share target. The market condition is based on the Company’s total shareholder return ranked against that of other companies that are included in the Standard & Poor’s 500 Index.
The fair value of each performance-based shares incorporating the market condition was estimated on the date of grant using a Monte Carlo simulation model with the following weighted-average assumptions:
For the Years Ended September 30,
202220212020
Expected term (in years)2.052.001.90
Risk-free rate of return(1)
0.5 %0.2 %1.6 %
Expected volatility(2)
28.3 %27.2 %20.9 %
Expected dividend yield(3)
0.8 %0.6 %0.7 %
Fair value per performance-based share granted$186.50$229.81$211.08
(1)Based on the zero-coupon U.S. treasury constant maturity yield curve, continuously compounded over the expected term of the awards
(2)Based on the Company’s implied and historical volatilities.
(3)Based on the Company’s annual dividend rate on the date of grant.
Performance-based shares vest over three years and are subject to earlier vesting in full under certain conditions. During fiscal 2022, 2021 and 2020, the total grant date fair value of performance-based shares vested and earned was $49 million, $47 million and $65 million, respectively. Compensation cost for performance-based shares is initially estimated based on target performance. It is recorded net of estimated forfeitures and adjusted as appropriate throughout the performance period.
The following table summarizes the maximum number of performance-based shares which could be earned and related activity:
Shares
Weighted-
Average
Grant Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 2021863,860 $204.82 
Granted(2)
440,722 $186.50 
Vested and earned(245,922)$200.90 
Unearned(200,800)$190.43 
Forfeited(23,664)$199.20 
Outstanding at September 30, 2022834,196 $199.92 0.89$148 
(1)Calculated by multiplying the closing stock price on the last trading day of fiscal 2022 of $177.65 by the number of instruments.
(2)Represents the maximum number of performance-based shares which could be earned.
At September 30, 2022, there was $39 million of total unrecognized compensation cost related to unvested performance-based shares, which is expected to be recognized over a weighted-average period of approximately 0.89 year.
Employee Stock Purchase Plan
The Visa Inc. Employee Stock Purchase Plan (ESPP) permits eligible employees to purchase the Company’s class A common stock at a 15% discount of the stock price on the purchase date, subject to certain restrictions. A total of 20 million shares of class A common stock have been reserved for issuance under the ESPP. In fiscal 2022, 2021 and 2020, the ESPP did not have a material impact on the consolidated financial statements.
v3.22.2.2
Commitments
 12 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments
Note 18—Commitments
Commitments. The Company has software licenses throughout the world with varying expiration dates. At September 30, 2022, future minimum payments on software licenses are as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Software licenses$83 $27 $7 $— $— $— $117 
v3.22.2.2
Income Taxes
 12 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes
Note 19—Income Taxes
The Company’s income before taxes by fiscal year consisted of the following:
For the Years Ended September 30,
202220212020
 (in millions)
U.S.$11,051 $11,002 $9,178 
Non-U.S.7,085 5,061 4,612 
Total income before taxes$18,136 $16,063 $13,790 
For fiscal 2022, 2021 and 2020, U.S. income before taxes included $3.6 billion, $3.1 billion, and $3.0 billion, respectively, of the Company’s U.S. entities’ income from operations outside of the U.S.
Income tax provision by fiscal year consisted of the following:
For the Years Ended September 30,
202220212020
 (in millions)
Current:
U.S. federal$2,166 $1,943 $1,662 
State and local104 69 212 
Non-U.S.1,245 869 743 
Total current taxes3,515 2,881 2,617 
Deferred:
U.S. federal(231)(57)42 
State and local(77)(28)9 
Non-U.S.(28)956 256 
Total deferred taxes(336)871 307 
Total income tax provision$3,179 $3,752 $2,924 
The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities, are presented below:
September 30,
20222021
 (in millions)
Deferred Tax Assets:
Accrued compensation and benefits$172 $166 
Accrued litigation obligation331 234 
Client incentives442 327 
Net operating loss carryforwards117 104 
Comprehensive loss21 106 
Federal benefit of state taxes133 157 
Other71 55 
Valuation allowance(120)(103)
Deferred tax assets1,167 1,046 
Deferred Tax Liabilities:
Property, equipment and technology, net(450)(346)
Intangible assets(5,788)(6,452)
Unrealized gains on equity securities(124)(203)
Foreign taxes(50)(93)
Deferred tax liabilities(6,412)(7,094)
Net deferred tax liabilities$(5,245)$(6,048)
The Inflation Reduction Act (IRA) of 2022 was enacted in the U.S. on August 16, 2022, primarily including a 15% corporate alternative minimum tax on adjusted financial statement income applicable beginning in fiscal 2024 and a 1% excise tax on corporate stock buy-backs applicable to stock buy-backs after December 31, 2022. The IRA is not expected to have a material impact on the Company’s financial statements.
At September 30, 2022 and 2021, net deferred tax assets of $87 million and $80 million, respectively, are reflected in other assets on the consolidated balance sheets.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that all or some portion of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences are deductible. The fiscal 2022 and 2021 valuation allowances relate primarily to foreign net operating losses from subsidiaries acquired in recent years. 
As of September 30, 2022, the Company had $517 million foreign net operating loss carryforwards from acquired subsidiaries. Foreign net operating losses may be carried forward indefinitely.
The income tax provision differs from the amount of income tax determined by applying the applicable U.S. federal statutory rate to pretax income, as a result of the following:
 For the Years Ended September 30,
 202220212020
 (in millions, except percentages)
U.S. federal income tax at statutory rate$3,809 21 %$3,373 21 %$2,896 21 %
State income taxes, net of federal benefit216 1 %222 1 %199 2 %
Non-U.S. tax effect, net of federal benefit(588)(3 %)(505)(3 %)(483)(4 %)
Remeasurement of deferred tax balances— — %1,007 6 %329 2 %
Conclusion of audits— — %(255)(2 %)— — %
State tax apportionment position(176)(1 %)— — %— — %
Other, net(82)— %(90)— %(17)— %
Income tax provision$3,179 18 %$3,752 23 %$2,924 21 %
In fiscal 2022 and fiscal 2021, the effective income tax rate was 18% and 23%, respectively. The effective tax rate in fiscal 2022 differs from the effective tax rate in fiscal 2021 primarily due to the following:
•during fiscal 2022, a decrease in the state tax apportionment ratio, including a $176 million tax benefit related to prior years, as a result of a tax position taken related to a recent ruling;
•during fiscal 2021, a $1.0 billion non-recurring, non-cash tax expense related to the remeasurement of UK deferred tax liabilities as a result of the increase in UK tax rate from 19% to 25%, effective April 1, 2023; and
•during fiscal 2021, $255 million of tax benefits recognized as a result of the conclusion of audits by taxing authorities.
In fiscal 2021 and fiscal 2020, the effective income tax rate was 23% and 21%, respectively. The effective tax rate in fiscal 2021 differs from the effective tax rate in fiscal 2020 primarily due to the following:
•during fiscal 2021, a $1.0 billion non-recurring, non-cash tax expense related to the remeasurement of UK deferred tax liabilities, as discussed above;
•during fiscal 2021, $255 million of tax benefits recognized as a result of the conclusion of audits by taxing authorities; and
•during fiscal 2020, a $329 million non-recurring, non-cash tax expense related to the remeasurement of UK deferred tax liabilities.
Current income taxes receivable at September 30, 2022 and 2021 of $190 million and $83 million, respectively, were included in prepaid expenses and other current assets. Non-current income taxes receivable at September 30, 2022 and 2021 of $1.0 billion and $974 million, respectively, were included in other assets. Income taxes payable at September 30, 2022 and 2021 of $365 million and $325 million, respectively, were included in accrued liabilities. Accrued income taxes at September 30, 2022 and 2021 of $2.3 billion and $2.4 billion, respectively, were included in other liabilities.
The Company’s operating hub in the Asia Pacific region is located in Singapore. Effective October 1, 2008 through September 30, 2023, it is subject to a tax incentive which is conditional upon meeting certain business operations and employment thresholds in Singapore. In fiscal 2022, 2021 and 2020, the tax incentive decreased Singapore tax by $362 million, $273 million and $280 million, and the gross benefit of the tax incentive on diluted earnings per share was $0.17, $0.12 and $0.13, respectively.
The Company is required to inventory, evaluate and measure all uncertain tax positions taken or to be taken on tax returns, and to record liabilities for the amount of such positions that may not be sustained, or may only partially be sustained, upon examination by the relevant taxing authorities.
At September 30, 2022, 2021 and 2020, the Company’s total gross unrecognized tax benefits were $2.7 billion, $2.5 billion and $2.6 billion, respectively, exclusive of interest and penalties described below. Included in the $2.7 billion, $2.5 billion and $2.6 billion are $1.3 billion, $1.3 billion and $1.6 billion of unrecognized tax benefits, respectively, that if recognized, would reduce the effective tax rate in a future period.
A reconciliation of beginning and ending unrecognized tax benefits by fiscal year is as follows: 
202220212020
 (in millions)
Balance at beginning of period$2,488 $2,579 $2,234 
Increases of unrecognized tax benefits related to prior years10 34 66 
Decreases of unrecognized tax benefits related to prior years(143)(386)(83)
Increases of unrecognized tax benefits related to current year350 326 376 
Decreases related to settlements with taxing authorities(19)(63)(12)
Reductions related to lapsing statute of limitations(3)(2)(2)
Balance at end of period$2,683 $2,488 $2,579 
In fiscal 2022, 2021 and 2020, the Company recognized $15 million, $1 million and $68 million of net interest expense, respectively, related to uncertain tax positions. In fiscal 2022, the Company reversed accrued penalties of $31 million and in fiscal 2021 and 2020, the Company accrued penalties of $3 million and $4 million, respectively, related to uncertain tax positions. At September 30, 2022 and 2021, the Company had accrued interest of $238 million and $233 million, and accrued penalties of $3 million and $34 million, respectively, related to uncertain tax positions included in other long-term liabilities in its consolidated balance sheets.
The Company’s U.S. federal income tax returns for fiscal 2013 through 2018 and refund claims filed for fiscal 2008 through 2012 are currently under examination. For fiscal 2008 through 2015, one unresolved issue related to an income tax deduction remains. During fiscal 2022, the Company completed the administrative appeals process for this issue without reaching a settlement with the Internal Revenue Service (IRS). The Company is currently evaluating its next steps.
The Company’s California income tax returns for fiscal 2012 through 2015 and refund claims filed for fiscal 2006 through 2011 are currently under examination. Except for the refund claims, the federal and California statutes of limitations have expired for fiscal years prior to 2012.
The India tax authorities completed the assessment of the Company’s income tax returns for the taxable years falling within the period from fiscal 2010 to 2019, and made certain adjustments. The Company objected to these adjustments and filed appeals to the appellate authorities.
The Company is also subject to examinations by various state and foreign tax authorities. All material state and foreign tax matters have been concluded for years through fiscal 2007. The timing and outcome of the final resolutions of the federal, state and foreign tax examinations and refund claims are uncertain. As such, it is not reasonably possible to estimate the impact that the final outcomes could have on the Company’s unrecognized tax benefits in the next 12 months.
v3.22.2.2
Legal Matters
 12 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters
Note 20—Legal Matters
The Company is party to various legal and regulatory proceedings. Some of these proceedings involve complex claims that are subject to substantial uncertainties and unascertainable damages. For those proceedings where a loss is determined to be only reasonably possible or probable but not estimable, the Company has disclosed the nature of the claim. Additionally, unless otherwise disclosed below with respect to these proceedings, the Company cannot provide an estimate of the possible loss or range of loss. Although the Company believes that it has strong defenses for the litigation and regulatory proceedings described below, it could, in the future, incur judgments or fines or enter into settlements of claims that could have a material adverse effect on the Company’s financial position, results of operations or cash flows. From time to time, the Company may engage in settlement discussions or mediations with respect to one or more of its outstanding litigation matters, either on its own behalf or collectively with other parties.
The litigation accrual is an estimate and is based on management’s understanding of its litigation profile, the specifics of each case, advice of counsel to the extent appropriate and management’s best estimate of incurred loss as of the balance sheet date.
The following table summarizes the activity related to accrued litigation:
20222021
 (in millions)
Balance at beginning of period$983 $914 
Provision for uncovered legal matters6 4 
Provision for covered legal matters885 125 
Payments for legal matters(418)(60)
Balance at end of period$1,456 $983 
Accrual Summary—U.S. Covered Litigation
Visa Inc., Visa U.S.A. and Visa International are parties to certain legal proceedings that are covered by the U.S. retrospective responsibility plan, which the Company refers to as the U.S. covered litigation. An accrual for the U.S. covered litigation and a charge to the litigation provision are recorded when a loss is deemed to be probable and reasonably estimable. In making this determination, the Company evaluates available information, including but not limited to actions taken by the Company’s litigation committee. The total accrual related to the U.S. covered litigation could be either higher or lower than the escrow account balance. See further discussion below under U.S. Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to U.S. covered litigation:
20222021
 (in millions)
Balance at beginning of period$881 $888 
Provision for interchange multidistrict litigation861 — 
Payments for U.S. covered litigation(301)(7)
Balance at end of period$1,441 $881 
During fiscal 2022, the Company recorded additional accruals of $861 million and deposited $850 million into the U.S. litigation escrow account to address claims of certain merchants who opted out of the Amended Settlement Agreement (as described herein). The U.S. covered litigation accrual balance is consistent with the Company’s best estimate of its share of a probable and reasonably estimable loss with respect to U.S. covered litigation. While this estimate is consistent with the Company’s view of the current status of the litigation, the probable and reasonably estimable loss or range of such loss could materially vary based on developments in the litigation. The Company will continue to consider and reevaluate this estimate in light of the substantial uncertainties with respect to the litigation. The Company is unable to estimate a potential loss or range of loss, if any, at trial if negotiated resolutions cannot be reached.
Accrual Summary—VE Territory Covered Litigation
Visa Inc., Visa International and Visa Europe are parties to certain legal proceedings that are covered by the Europe retrospective responsibility plan. Unlike the U.S. retrospective responsibility plan, the Europe retrospective responsibility plan does not have an escrow account that is used to fund settlements or judgments. The Company is entitled to recover VE territory covered losses through periodic adjustments to the conversion rates applicable to the series B and C preferred stock. An accrual for the VE territory covered losses and a reduction to stockholders’ equity will be recorded when the loss is deemed to be probable and reasonably estimable. See further discussion below under VE Territory Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to VE territory covered litigation:
20222021
 (in millions)
Balance at beginning of period$102 $21 
Provision for VE territory covered litigation24 125 
Payments for VE territory covered litigation(115)(44)
Balance at end of period$11 $102 
U.S. Covered Litigation
Interchange Multidistrict Litigation (MDL) – Putative Class Actions
Beginning in May 2005, a series of complaints (the majority of which were styled as class actions) were filed in U.S. federal district courts by merchants against Visa U.S.A., Visa International and/or Mastercard, and in some cases, certain U.S. financial institutions. The Judicial Panel on Multidistrict Litigation issued an order transferring the cases to the U.S. District Court for the Eastern District of New York (Court) for coordination of pre-trial proceedings in MDL 1720. A group of purported class plaintiffs subsequently filed amended and supplemental class complaints. The individual and class complaints generally challenged, among other things, Visa’s and Mastercard’s purported setting of interchange reimbursement fees, their “no surcharge” and honor-all-cards rules, alleged tying and bundling of transaction fees, and Visa’s reorganization and IPO, under the federal antitrust laws and, in some cases, certain state unfair competition laws. The complaints sought money damages, declaratory and injunctive relief, attorneys’ fees and, in one instance, an order that the IPO be unwound.
Visa Inc., Visa U.S.A., Visa International, Mastercard Incorporated, Mastercard International Incorporated, various U.S. financial institution defendants, and the class plaintiffs signed a settlement agreement (2012 Settlement Agreement) to resolve the class plaintiffs’ claims. Pursuant to the 2012 Settlement Agreement, the Company deposited approximately $4.0 billion from the U.S. litigation escrow account and approximately $500 million attributable to interchange reductions for an eight-month period into court-authorized settlement accounts. Visa subsequently received from the Court and deposited into the Company’s U.S. litigation escrow account “takedown payments” of approximately $1.1 billion. On June 30, 2016, the U.S. Court of Appeals for the Second Circuit vacated the lower court’s certification of the merchant class, reversed the approval of the settlement, and remanded the case to the lower court for further proceedings.
On remand, the district court entered an order appointing interim counsel for two putative classes of plaintiffs, a “Damages Class” and an “Injunctive Relief Class.” The plaintiffs purporting to act on behalf of the putative Damages Class subsequently filed a Third Consolidated Amended Class Action Complaint, seeking money damages and attorneys’ fees, among other relief. A new group of purported class plaintiffs, acting on behalf of the putative Injunctive Relief Class, filed a class action complaint against Visa, Mastercard, and certain bank defendants seeking, among other things, an injunction against the setting of default interchange rates; against certain Visa operating rules relating to merchants, including the honor-all-cards rule; and against various transaction fees, including the fixed acquirer network fee, as well as attorneys’ fees.
On September 17, 2018, Visa, Mastercard, and certain U.S. financial institutions reached an agreement with plaintiffs purporting to act on behalf of the putative Damages Class to resolve all Damages Class claims (Amended Settlement Agreement). The Amended Settlement Agreement supersedes the 2012 Settlement Agreement and includes, among other terms, a release from participating class members for liability arising out of conduct alleged by the Damages Class in the litigation, including claims that accrue no later than five years after the Amended Settlement Agreement becomes final. Participating class members will not release injunctive relief claims as a named representative or non-representative class member in the putative Injunctive Relief Class. The Amended Settlement Agreement also required an additional settlement payment from all defendants totaling $900 million, with the Company’s share of $600 million paid from the Company’s litigation escrow account established pursuant to the Company’s retrospective responsibility plan. See Note 5—U.S. and Europe Retrospective Responsibility Plans. The additional settlement payment was added to the approximately $5.3 billion previously deposited into settlement accounts by the defendants pursuant to the 2012 Settlement Agreement.
Following a motion by the Damages Class plaintiffs for final approval of the Amended Settlement Agreement, certain merchants in the proposed settlement class objected to the settlement and/or submitted requests to opt out of the settlement class. On December 13, 2019, the district court granted final approval of the Amended Settlement Agreement, which was subsequently appealed. Based on the percentage of class members (by payment volume) that opted out of the class, $700 million was returned to defendants. Visa’s portion of the takedown payment, approximately $467 million, was deposited into the U.S. litigation escrow account. On July 18, 2022, in response to an order from the U.S. Court of Appeals for the Second Circuit, the district court certified its final approval of the Amended Settlement Agreement as a partial final judgment.
On May 29, 2020, a complaint was filed by Old Jericho Enterprise, Inc. against Visa and Mastercard on behalf of a purported class of gasoline retailers operating in 24 states and the District of Columbia. On April 28, 2021, a complaint was filed by Hayley Lanning and others, and on June 16, 2021, a complaint was filed by Camp Grounds Coffee and others, each against Visa and Mastercard on behalf of a purported class of merchants located in 25 states and the District of Columbia who have taken payment using the Square card acceptance service. Each of these complaints alleges violations of the antitrust laws of those jurisdictions and seeks recovery for plaintiffs as indirect purchasers. To the extent these plaintiffs’ claims are not released by the Amended Settlement Agreement, Visa believes they are covered by the U.S. Retrospective Responsibility Plan.
On June 1, 2020, Visa, jointly with other defendants, served a motion for summary judgment regarding the claims in the Injunctive Relief Class complaint. The putative Injunctive Relief Class plaintiffs served a motion for partial summary judgment. On September 27, 2021, the district court certified without opt out rights an Injunctive Relief Class consisting of all merchants that accept Visa or Mastercard credit or debit cards in the United States at any time between December 18, 2020 and entry of final judgment.
Interchange Multidistrict Litigation (MDL) – Individual Merchant Actions
Since May 2013, more than 50 cases have been filed in or removed to various federal district courts by hundreds of merchants generally pursuing damages claims on allegations similar to those raised in MDL 1720. The cases name as defendants Visa Inc., Visa U.S.A., Visa International, Mastercard Incorporated and Mastercard International Incorporated, although some also include certain U.S. financial institutions as defendants. A number of the cases include allegations that Visa has monopolized, attempted to monopolize, and/or conspired to monopolize debit card-related market segments. Some of the cases seek an injunction against the setting of default interchange rates; certain Visa operating rules relating to merchants, including the honor-all-cards rule; and various transaction fees, including the fixed acquirer network fee. In addition, some cases assert that Visa, Mastercard and/or their member banks conspired to prevent the adoption of chip-and-PIN authentication in the U.S. or otherwise circumvent competition in the debit market. Certain individual merchants have filed amended complaints to, among other things, add claims for injunctive relief and update claims for damages.
In addition to the cases filed by individual merchants, Visa, Mastercard, and/or certain U.S. financial institution defendants in MDL 1720 filed complaints against certain merchants in the Eastern District of New York seeking, in part, a declaration that Visa’s conduct did not violate federal or state antitrust laws.
The individual merchant actions described in this section have been either assigned to the judge presiding over MDL 1720, have been transferred, or are being considered for transfer by the Judicial Panel on Multidistrict Litigation for inclusion in MDL 1720. These individual merchant actions are U.S. covered litigation for purposes of the U.S. retrospective responsibility plan. See Note 5—U.S. and Europe Retrospective Responsibility Plans.
Visa has reached settlements with a number of merchants representing approximately 58% of the Visa-branded payment card sales volume of merchants who opted out of the Amended Settlement Agreement with the Damages Class plaintiffs.
On June 1, 2020, Visa, jointly with other defendants, served motions for summary judgment regarding the claims in certain of the individual merchant actions, as well as certain declaratory judgment claims brought by Visa, Mastercard, and some U.S. financial institutions. Plaintiffs in certain of the individual merchant actions served motions for partial summary judgment. On October 9, 2022, defendants’ motion for summary judgment regarding damages for EMV-related chargebacks was denied.
The Company believes it has substantial defenses to the claims asserted in the putative class actions and individual merchant actions, but the final outcome of individual legal claims is inherently unpredictable. The Company could incur judgments, enter into settlements or revise its expectations regarding the outcome of merchants’ claims, and such developments could have a material adverse effect on the Company’s financial results in the period in which the effect becomes probable and reasonably estimable. While the U.S. retrospective responsibility plan is designed to address monetary liability in these matters, see Note 5—U.S. and Europe Retrospective Responsibility Plans, judgments or settlements that require the Company to change its business practices, rules, or contractual commitments could adversely affect the Company’s financial results.
VE Territory Covered Litigation
Europe Merchant Litigation
Since July 2013, proceedings have been commenced by more than 850 Merchants (the capitalized term “Merchant”, when used in this section, means a Merchant together with subsidiary/affiliate companies that are party to the same claim) against Visa Europe, Visa Inc. and other Visa subsidiaries in the UK and other countries, primarily relating to interchange rates in Europe and, in some cases, relating to fees charged by Visa and certain Visa rules. They seek damages for alleged anti-competitive conduct in relation to one or more of the following types of interchange fees for credit and debit card transactions: UK domestic, Irish domestic, other European domestic, intra-European Economic Area and/or other inter-regional. More than 30 additional Merchants have threatened to commence similar proceedings. Standstill agreements have been entered into with respect to some of those threatened Merchant claims, several of which have been settled. As of the filing date, Visa has settled claims of over 150 Merchants, leaving more than 700 Merchants with pending or threatened claims. While the amount of interchange being challenged could be substantial, these claims have not yet been filed and their full scope is not yet known. The Company has learned that several additional European entities have indicated they may also bring similar claims, and the Company anticipates additional claims in the future.
A trial took place from November 2016 to March 2017, relating to claims asserted by one Merchant. In judgments published in November 2017 and February 2018, the court found as to that Merchant that Visa’s UK domestic interchange did not restrict competition, but that if it had been found to restrict competition, it would not be exemptible under applicable law. On July 4, 2018, the Court of Appeal overturned the lower court’s rulings, finding that Visa’s UK domestic interchange restricted competition and the question of whether Visa’s UK domestic interchange was exempt from the finding of restriction under applicable law had been incorrectly decided. Following an appeal to the Supreme Court of the United Kingdom, on June 17, 2020, the Supreme Court found that Visa’s UK domestic interchange restricted competition under applicable competition law. On September 30, 2021, Visa reached a confidential settlement agreement resolving one Merchant’s claims.
On November 26, 2021, with respect to certain pending Merchant claims, the UK Competition Appeal Tribunal (CAT) found that UK and certain other domestic and intra-European Economic Area consumer interchange fees before the introduction of the Interchange Fee Regulation (IFR) were a restriction of competition, but that the question of whether those fees, along with inter-European Economic Area fees, are a restriction of competition after the introduction of the IFR would need to be resolved at trial. Whether any interchange fees are exempt from the finding of restriction under applicable law and the assessment of damages, if any, will also need to be considered at trial. On October 4, 2022, the UK Court of Appeal affirmed the CAT’s ruling.

On June 1, 2022, two class action claims were filed against Visa with the CAT on behalf of UK businesses that accepted Visa-branded payment cards at any time since June 1, 2016, alleging that UK domestic, intra-European Economic Area, and inter-regional interchange fees on commercial credit cards, and inter-regional interchange fees
on consumer cards, are anti-competitive. The Europe retrospective responsibility plan covers liabilities and losses relating to the covered period, which generally refers to the period before the closing of the Visa Europe acquisition.
The full scope of potential damages is not yet known because not all Merchant claims have been served and Visa has substantial defenses. However, the claims that have been issued, served and/or preserved, seek several billion dollars in damages.
Other Litigation
On November 14, 2021, a motion to certify a class action was filed against Visa and Mastercard in the Israel Central District Court. The motion asserts that interchange fees on cross-border transactions in Israel and the Honor All Cards rule are anti-competitive and seeks damages and injunctive relief. On July 3, 2022, Visa filed a motion challenging jurisdiction.
Other Litigation
U.S. ATM Access Fee Litigation
National ATM Council Class Action. In October 2011, the National ATM Council and thirteen non-bank ATM operators filed a purported class action lawsuit against Visa (Visa Inc., Visa International, Visa U.S.A. and Plus System, Inc.) and Mastercard in the U.S. District Court for the District of Columbia. The complaint challenges Visa’s rule (and a similar Mastercard rule) that if an ATM operator chooses to charge consumers an access fee for a Visa or Plus transaction, that fee cannot be greater than the access fee charged for transactions on other networks. Plaintiffs claim that the rule violates Section 1 of the Sherman Act and seek treble damages, injunctive relief, and attorneys’ fees. On August 4, 2021, the district court granted plaintiffs’ motion for class certification, and on October 1, 2021, the U.S. Court of Appeals for the District of Columbia Circuit granted defendants’ motion for leave to appeal the district court’s decision.
Consumer Class Actions. In October 2011, a purported consumer class action was filed against Visa and Mastercard in the same federal court challenging the same ATM access fee rules. Two other purported consumer class actions challenging the rules, later combined, were also filed in October 2011 in the same federal court naming Visa, Mastercard and three financial institutions as defendants. Plaintiffs seek treble damages, restitution, injunctive relief, and attorneys’ fees where available under federal and state law, including under Section 1 of the Sherman Act and consumer protection statutes. On August 4, 2021, the district court granted plaintiffs’ motion for class certification in each case, and on October 1, 2021, the U.S. Court of Appeals for the District of Columbia Circuit granted defendants’ motion for leave to appeal the district court’s decision. On August 8, 2022, in the case in which the three financial institutions were named, the district court granted plaintiffs’ motion for final approval of a class action settlement with those institutions and entered final judgments of dismissal as to those institutions.
U.S. Department of Justice Civil Investigative Demand (2012)
On March 13, 2012, the Antitrust Division of the United States Department of Justice (Division) issued a Civil Investigative Demand, or “CID”, to Visa Inc. seeking documents and information regarding a potential violation of Section 1 or 2 of the Sherman Act, 15 U.S.C. §§ 1, 2. The CID focuses on PIN-Authenticated Visa Debit and Visa’s competitive responses to the Dodd-Frank Act, including Visa’s fixed acquirer network fee. Visa is cooperating with the Division in connection with the CID.
Pulse Network
On November 25, 2014, Pulse Network LLC filed suit against Visa Inc. in federal district court in Texas, alleging that Visa has, among other things, monopolized and attempted to monopolize debit card network services markets. On August 29, 2022, Pulse filed an amended complaint, which makes similar allegations and seeks unspecified treble damages, attorneys’ fees and injunctive relief, including to enjoin the fixed acquirer network fee structure, and Visa’s agreements relating to debit with issuers, acquirers and merchants.
EMV Chip Liability Shift
Following their initial complaint filed on March 8, 2016, B&R Supermarket, Inc., d/b/a Milam’s Market, and Grove Liquors LLC filed an amended class action complaint on July 15, 2016, against Visa Inc., Visa U.S.A., Mastercard, Discover, American Express, EMVCo and certain financial institutions in the U.S. District Court for the Northern District of California. The amended complaint asserts that defendants, through EMVCo, conspired to shift liability for fraudulent, faulty, or otherwise rejected payment card transactions from defendants to the purported class of merchants, defined as those merchants throughout the U.S. who have been subjected to the “Liability Shift” since October 2015. Plaintiffs claim that the “Liability Shift” violates Sections 1 and 3 of the Sherman Act and certain state laws, and seek treble damages, injunctive relief and attorneys’ fees.
EMVCo and the financial institution defendants were dismissed, and the matter was subsequently transferred to the U.S. District Court for the Eastern District of New York, which has clarified that this case is not part of MDL 1720.
On August 28, 2020, the district court granted plaintiffs’ motion for class certification.
Federal Trade Commission Civil Investigative Demand
On November 4, 2019, the Bureau of Competition of the United States Federal Trade Commission (Bureau) requested that Visa provide, on a voluntary basis, documents and information relating to an investigation as to whether Visa’s actions inhibited merchant choice in the selection of debit payments networks in potential violation of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act. On June 9, 2020, the Federal Trade Commission (FTC) issued a Civil Investigative Demand, or “CID”, to Visa requesting additional documents and information. Visa is cooperating with the FTC in connection with the CID.
Euronet Litigation
On December 13, 2019, Euronet 360 Finance Limited, Euronet Polska Spolka z.o.o. and Euronet Services spol. s.r.o. (Euronet) served a claim in the UK alleging that certain rules affecting ATM access fees in Poland, the Czech Republic and Greece by Visa Inc. and Mastercard Incorporated, and certain of their subsidiaries, breach various competition laws. Euronet seeks damages, costs, and injunctive relief to prevent the defendants from enforcing these rules. Trial has been scheduled for a date on or after October 2, 2023.
European Commission Staged Digital Wallets Investigation
On June 26, 2020, the European Commission (EC) informed Visa that it opened a preliminary investigation into Visa’s rules regarding staged digital wallets and issued a request for information regarding such rules. Visa is cooperating with the EC in connection with the investigation.
German ATM Litigation
Beginning in December 2021, Visa was served with claims in Germany brought by German banks against Visa Europe and Visa Inc. The banks claim that Visa’s ATM rules prohibiting the charging of access fees on domestic cash withdrawals are anti-competitive, and the majority seek damages. Visa has filed challenges to the jurisdiction of the German courts to hear these claims.
U.S. Department of Justice Civil Investigative Demand (2021)
On March 26, 2021, the Antitrust Division of the U.S. Department of Justice (the Division) issued a Civil Investigative Demand, or “CID”, to Visa seeking documents and information regarding a potential violation of Section 1 or 2 of the Sherman Act, 15 U.S.C. §§ 1, 2. The CID focuses on U.S. debit and competition with other payment methods and networks. On June 11, 2021, the Division issued a further CID seeking additional documents and information on the same subjects. Visa is cooperating with the Division in connection with the investigation.
Foreign Currency Exchange Rate Litigation
Following an initial class action complaint filed on July 9, 2021, an amended class action complaint was filed on December 6, 2021 against Visa in the U.S. District Court for the Northern District of California by several individuals on behalf of a purported nationwide class, and/or purported California, Washington, Massachusetts or New Jersey subclasses, of cardholders who conducted a transaction in a foreign currency. The amended complaint
asserted claims for unjust enrichment and restitution as well as violations of the California Unfair Competition Law, the Washington Consumer Protection Act, the Massachusetts Consumer Protection Act, and the New Jersey Consumer Fraud Act. On September 16, 2022, plaintiffs filed a second amended complaint asserting the same claims, and on November 7, 2022, Visa filed a motion to dismiss the second amended complaint.
v3.22.2.2
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Nature of Operations Organization. Visa Inc. (Visa or the Company) is a global payments technology company that facilitates global commerce and money movement across more than 200 countries and territories. Visa operates one of the world’s largest electronic payments network — VisaNet — which provides transaction processing services (primarily authorization, clearing and settlement). The Company offers products, solutions and services that facilitate secure, reliable and efficient money movement for participants in the ecosystem. Visa is not a financial institution and does not issue cards, extend credit or set rates and fees for account holders of Visa products. In most cases, account holder and merchant relationships belong to, and are managed by, Visa’s financial institution clients.
Consolidation and basis of presentation
Consolidation and basis of presentation. The consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The Company consolidates its majority-owned and controlled entities, including variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its consolidated financial statements as of and for the periods presented. All significant intercompany accounts and transactions are eliminated in consolidation.
During fiscal 2022, economic sanctions were imposed on Russia, impacting Visa and its clients. The extent and severity of the sanctions impacted the Company’s operations and a reduction in Ruble liquidity impacted the Company’s ability to manage operational impact and related foreign currency risk. In March 2022, the Company suspended its operations in Russia. In addition, the Company deconsolidated its Russian subsidiary, resulting in a pre-tax loss of $35 million for the year ended September 30, 2022, which is included in general and administrative expense on the consolidated statements of operations.
The Company’s activities are interrelated, and each activity is dependent upon and supportive of the other. All significant operating decisions are based on analysis of Visa as a single global business. Accordingly, the Company has one reportable segment, Payment Services.
Use of estimates Use of estimates. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and will be recognized in the period in which such changes occur. Future actual results could differ materially from these estimates. The use of estimates in specific accounting policies is described further below as appropriate.
Cash, cash equivalents, restricted cash, and restricted cash equivalents
Cash, cash equivalents, restricted cash, and restricted cash equivalents. Cash and cash equivalents include cash and certain highly liquid investments with original maturities of 90 days or less from the date of purchase. Cash equivalents are primarily recorded at cost, which approximates fair value due to their generally short maturities. The Company defines restricted cash and restricted cash equivalents as cash and cash equivalents that cannot be withdrawn or used for general operating activities. See Note 4—Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents.
Restricted cash equivalents—U.S. litigation escrow. The Company maintains an escrow account from which monetary liabilities from settlements of, or judgments in, the U.S. covered litigation are paid. See Note 5—U.S. and Europe Retrospective Responsibility Plans and Note 20—Legal Matters for a discussion of the U.S. covered litigation. The escrow funds are held in money market investments, together with the interest earned, less applicable taxes payable, and classified as restricted cash equivalents on the consolidated balance sheets. Interest earned on escrow funds is included in non-operating income (expense) on the consolidated statements of operations.
Fair value Fair value. The Company measures certain financial assets and liabilities at fair value on a recurring basis. Certain non-financial assets such as goodwill, intangible assets and property, equipment and technology are subject to nonrecurring fair value measurements if they are deemed to be impaired. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are reported under a three-level valuation hierarchy.
Marketable equity securities, available-for-sale debt securities, non-marketable equity securities Marketable equity securities. Marketable equity securities, which are reported in investment securities on the consolidated balance sheets, include investments in publicly traded companies as well as mutual fund investments
related to various employee compensation and benefit plans. Interest and dividend income as well as gains and losses, realized and unrealized, from changes in fair value are recorded in non-operating income (expense).
Trading activity in the mutual fund investments is at the direction of the Company’s employees. These investments are held in a trust and are not considered by the Company to be available for its operational or liquidity needs. The corresponding liability is reported in accrued liabilities on the consolidated balance sheets, with changes in the liability recognized in personnel expense on the consolidated statements of operations.
Available-for-sale debt securities. The Company’s investment in debt securities, which are classified as available-for-sale and reported in investment securities on the consolidated balance sheets, include U.S. government-sponsored debt securities and U.S. Treasury securities. These securities are recorded at cost at the time of purchase and are carried at fair value. The Company considers these securities to be available-for-sale to meet working capital and liquidity needs. Investments with original maturities of greater than 90 days and stated maturities of less than one year from the balance sheet date, or investments that the Company intends to sell within one year, are classified as current assets, while all other securities are classified as non-current assets. Unrealized gains and losses are reported in accumulated other comprehensive income (loss) on the consolidated balance sheets. The specific identification method is used to calculate realized gain or loss on the sale of securities, which is recorded in non-operating income (expense) on the consolidated statements of operations. Interest income is recognized when earned and is included in non-operating income (expense) on the consolidated statements of operations.
The Company evaluates its debt securities for impairment on an ongoing basis. When there has been a decline in fair value of a debt security below the amortized cost basis, the Company recognizes an impairment if: (1) it has the intent to sell the security; (2) it is more likely than not that it will be required to sell the security before recovery of the amortized cost basis; or (3) it does not expect to recover the entire amortized cost basis of the security. If the Company identifies that the decline in fair value has resulted from credit losses, the credit loss component is recognized as an allowance on the balance sheet and in non-operating income (expense) on the consolidated statements of operations. The non-credit loss component remains in accumulated other comprehensive income (loss) until realized from a sale or subsequent impairment.
Non-marketable equity securities. The Company’s non-marketable equity securities, which are reported in other assets on the consolidated balance sheets, include investments in privately held companies without readily determinable market values. All gains and losses on non-marketable equity securities, realized and unrealized, are recognized in non-operating income (expense).
The Company applies the equity method of accounting for investments in other entities when it does not have control but has the ability to exercise significant influence. Under the equity method, the Company’s share of each entity’s profit or loss is reflected in non-operating income (expense) on the consolidated statements of operations.
The Company applies the fair value measurement alternative for equity investments in other entities when the Company does not have the ability to exercise significant influence. The Company adjusts the carrying value of these equity securities to fair value when transactions for identical or similar investments of the same issuer are observable.
The Company regularly reviews investments accounted for under the equity method and the fair value measurement alternative for possible impairment, which generally involves an analysis of the facts and changes in circumstances influencing the investment, expectations of the entity’s cash flows and capital needs, and the viability of its business model.
Financial instruments Financial instruments. The Company considers the following to be financial instruments: cash, cash equivalents, restricted cash, restricted cash equivalents, investment securities, settlement receivable and payable, accounts receivable, customer collateral, non-marketable equity investments and derivative instruments.
Settlement receivable and payable Settlement receivable and payable. The Company operates systems for authorizing, clearing and settling payment transactions worldwide. Most U.S. dollar settlements with the Company’s financial institution clients are settled within the same day and do not result in a receivable or payable balance. Settlements in currencies other than the U.S. dollar generally remain outstanding for one to two business days, resulting in amounts due from and to clients. These amounts are presented as settlement receivable and settlement payable on the consolidated balance sheets.
Customer collateral Customer collateral. The Company holds cash deposits and other non-cash assets from certain clients in order to ensure their performance of settlement obligations arising from Visa payment services are processed in accordance with the Company’s operating rules. The cash collateral assets are restricted and fully offset by corresponding liabilities and both balances are presented on the consolidated balance sheets. Pledged securities are held by a custodian in an account under the Company’s name and ownership; however, the Company does not have the right to repledge these securities, but may sell these securities in the event of default by the client on its settlement obligations. Letters of credit are provided primarily by a client’s financial institutions to serve as irrevocable guarantees of payment. Guarantees are provided primarily by a client’s parent to secure the obligations of its subsidiaries. The Company routinely evaluates the financial viability of institutions providing the letters of credit and guarantees.
Guarantees and indemnifications Guarantees and indemnifications. The Company recognizes an obligation at inception for guarantees and indemnifications that qualify for recognition, regardless of the probability of occurrence. The Company indemnifies its financial institution clients for settlement losses suffered due to the failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. The Company estimates expected credit losses and recognizes an allowance for those credit losses related to its settlement indemnification obligations. The estimated fair value of the liability for settlement indemnification is included in accrued liabilities on the consolidated balance sheets.
Property, equipment and technology, net
Property, equipment and technology, net. Property, equipment and technology are recorded at historical cost less accumulated depreciation and amortization, which are computed on a straight-line basis over the asset’s estimated useful life. Depreciation and amortization of technology, furniture, fixtures and equipment are computed over estimated useful lives ranging from 2 to 10 years. Leasehold improvements are amortized over the shorter of the useful life of the asset or lease term. Building improvements are depreciated between 3 and 40 years, and buildings are depreciated over 40 years. Improvements that increase functionality of the asset are capitalized and depreciated over the asset’s remaining useful life. Land and construction-in-progress are not depreciated. Fully depreciated assets are retained in property, equipment and technology, net, until removed from service.
Technology includes purchased and internally developed software, including technology assets obtained through acquisitions. Internally developed software represents software primarily used by the VisaNet electronic payments network. Internal and external costs incurred during the preliminary project stage are expensed as incurred. Qualifying costs incurred during the application development stage are capitalized. Once the project is substantially complete and ready for its intended use these costs are amortized on a straight-line basis over the technology’s estimated useful life. Acquired technology assets are initially recorded at fair value and amortized on a straight-line basis over the estimated useful life.
The Company evaluates the recoverability of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the sum of expected undiscounted net future cash flows is less than the carrying amount of an asset or asset group, an impairment loss is recognized to the extent that the carrying amount of the asset or asset group exceeds its fair value.
Leases Leases. The Company determines if an arrangement is a lease at its inception. Right-of-use (ROU) assets, and corresponding lease liabilities, are recognized at the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As a majority of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not record a ROU asset and corresponding liability for leases with terms of 12 months or less.Lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company does not combine lease payments with non-lease components for any of its leases. Operating leases are recorded as ROU assets, which are included in other assets on the consolidated balance sheets. The current portion of lease liabilities are included in accrued liabilities and the long-term portion is included in other liabilities on the consolidated balance sheets. The Company’s lease cost is included in general and administrative expense in the consolidated statements of operations and consists of amounts recognized under lease agreements, adjusted for impairment and sublease income.
Business Combinations Business Combinations. The Company accounts for business combinations using the acquisition method and accordingly, the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree are generally recorded at their acquisition date fair values. The excess of the purchase price over the fair value of net assets acquired, including identifiable intangible assets, is recorded as goodwill. Acquisition-related costs are expensed in the periods in which the costs are incurred.
Intangible assets, net
Intangible assets, net. The Company records identifiable intangible assets at fair value on the date of acquisition and evaluates the useful life of each asset.
Finite-lived intangible assets primarily consist of customer relationships and trade names obtained through acquisitions. Finite-lived intangible assets are amortized on a straight-line basis and are tested for recoverability if events or changes in circumstances indicate that their carrying amounts may not be recoverable. These intangibles have useful lives ranging from 3 to 15 years. See Note 8—Intangible Assets and Goodwill.
Indefinite-lived intangible assets consist of trade name, customer relationships and reacquired rights. Intangible assets with indefinite useful lives are not amortized but are evaluated for impairment annually or more frequently if events or changes in circumstances indicate that impairment may exist. The Company first assesses qualitative factors to determine whether it is necessary to perform a quantitative impairment test for indefinite-lived intangible assets. The Company assesses each category of indefinite-lived intangible assets for impairment on an aggregate basis, which may require the allocation of cash flows and/or an estimate of fair value to the assets or asset group. Impairment exists if the fair value of the indefinite-lived intangible asset is less than the carrying value. The Company relies on a number of factors when completing impairment assessments, including a review of discounted net future cash flows, business plans and the use of present value techniques.
The Company performed its annual impairment review of indefinite-lived intangible assets as of February 1, 2022, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicate that impairment of the Company’s indefinite-lived intangible assets existed as of September 30, 2022.
Goodwill
Goodwill. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Goodwill is not amortized but is evaluated for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that impairment may exist.
The Company performed its annual impairment review of goodwill as of February 1, 2022, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicate that impairment existed as of September 30, 2022.
Accrued litigation Accrued litigation. The Company evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which it is a party and records a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These judgments are subjective and based on a number of factors, including the specifics of such legal or regulatory proceedings, the merits of the Company’s defenses and consultation with internal and external legal counsel. Actual outcomes of these legal and regulatory proceedings may differ materially from the Company’s estimates. The Company expenses legal costs as incurred in professional fees in the consolidated statements of operations.
Revenue recognition Revenue recognition. The Company’s net revenues are comprised principally of the following categories: service revenues, data processing revenues, international transaction revenues and other revenues, reduced by client incentives. As a payments network service provider, the Company’s obligation to the customer is to stand ready to provide continuous access to our payments network over the contractual term. Consideration is variable based primarily upon the amount and type of transactions and payments volume on Visa’s products. The Company recognizes revenue, net of sales and other similar taxes, as the payments network services are performed in an amount that reflects the consideration the Company expects to receive in exchange for those services. Fixed fees
for payments network services are generally recognized ratably over the related service period. The Company has elected the optional exemption to not disclose the remaining performance obligations related to payments network services and other performance obligations which are constrained by and dependent upon the future performance of its clients, which are variable in nature. The Company also recognizes revenues, net of sales and other similar taxes, from other value added services, including issuing solutions, acceptance solutions, risk and identity solutions, open banking and advisory services, as these value added services are performed.
Service revenues consist mainly of revenues earned for services provided in support of client usage of Visa payment services. Current quarter service revenues are primarily assessed using a calculation of current quarter’s pricing applied to the prior quarter’s payments volume. The Company also earns revenues from assessments designed to support ongoing acceptance and volume growth initiatives, which are recognized in the same period the related volume is transacted.
Data processing revenues consist of revenues earned for authorization, clearing, settlement, value added services, network access and other maintenance and support services that facilitate transaction and information processing among the Company’s clients globally. Data processing revenues are recognized in the same period the related transactions occur or services are performed.
International transaction revenues are earned for cross-border transaction processing and currency conversion activities. Cross-border transactions arise when the country of origin of the issuer or financial institution originating the transaction is different from that of the beneficiary. International transaction revenues are recognized in the same period the cross-border transactions occur or services are performed.
Other revenues consist mainly of value added services, license fees for use of the Visa brand or technology and fees for account holder services, certification and licensing. Other revenues are recognized in the same period the related transactions occur or services are performed.
Client incentives Client incentives. The Company enters into long-term contracts with financial institution clients, merchants and strategic partners for various programs that provide cash and other incentives designed to increase revenue by growing payments volume, increasing Visa product acceptance, winning merchant routing transactions over to Visa’s network and driving innovation. Incentives are classified as reductions to revenues within client incentives, unless the incentive is a cash payment made in exchange for a distinct good or service provided by the customer, in which case the payment is classified as operating expense. The Company generally capitalizes upfront and fixed incentive payments under these agreements and amortizes the amounts as a reduction to revenues ratably over the contractual term. Incentives that are earned by the customer based on performance targets are recorded as reductions to revenues based on management's estimate of each client's future performance. These accruals are regularly reviewed and estimates of performance are adjusted, as appropriate, based on changes in performance expectations, actual client performance, amendments to existing contracts or the execution of new contracts.
Marketing Marketing. The Company expenses costs for the production of advertising as incurred. The cost of media advertising is expensed when the advertising takes place. Sponsorship costs are recognized over the period in which the Company benefits from the sponsorship rights. Promotional costs are expensed as incurred, when the related services are received, or when the related event occurs.
Income taxes
Income taxes. The Company’s income tax expense consists of two components: current and deferred. Current income tax expense represents taxes paid or payable for the current period. Deferred tax assets and liabilities are recognized to reflect the future tax consequences attributable to temporary differences between the financial statement carrying amounts and the respective tax basis of existing assets and liabilities, and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In assessing whether deferred tax assets are realizable, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. A valuation allowance is recorded for the portions that are not expected to be realized based on the level of historical taxable income, projections of future taxable income over the periods in which the temporary differences are deductible, and qualifying tax planning strategies.
Where interpretation of the tax law may be uncertain, the Company recognizes, measures and discloses income tax uncertainties. The Company accounts for interest expense and penalties related to uncertain tax positions in non-operating income (expense) in the consolidated statements of operations. The Company files a consolidated federal income tax return and, in certain states, combined state tax returns. The Company elects to
claim foreign tax credits in any given year if such election is beneficial to the Company.
Pension and other postretirement benefit plans Pension and other postretirement benefit plans. The Company’s defined benefit pension and other postretirement benefit plans are actuarially evaluated, incorporating various critical assumptions including the discount rate and the expected rate of return on plan assets (for qualified pension plans). The discount rate is based on a cash flow matching analysis, with the projected benefit payments matching spot rates from a yield curve developed from high-quality corporate bonds. The expected rate of return on pension plan assets is primarily based on the targeted allocation, and evaluated for reasonableness by considering such factors as: (i) actual return on plan assets; (ii) historical rates of return on various asset classes in the portfolio; (iii) projections of returns on various asset classes; and (iv) current and prospective capital market conditions and economic forecasts. Any difference between actual and expected plan experience, including asset return experience, in excess of a 10% corridor is recognized in net periodic pension cost over the expected average employee future service period, which ranges from approximately 7 to 9 years for the U.S. and non-U.S. pension plans. Other assumptions involve demographic factors such as retirement age, mortality, attrition and the rate of compensation increases. The Company evaluates assumptions annually and modifies them as appropriate.The Company recognizes settlement losses when it settles pension benefit obligations, including making lump-sum cash payments to plan participants in exchange for their rights to receive specified pension benefits, when certain thresholds are met.
Foreign currency remeasurement and translation Foreign currency remeasurement and translation. The Company’s functional currency is the U.S. dollar for the majority of its foreign operations except for Visa Europe Limited (Visa Europe) whose functional currency is the Euro. Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date. At period end, monetary assets and liabilities are remeasured to the functional currency using exchange rates in effect at the balance sheet dates. Non-monetary assets and liabilities are remeasured at historical exchange rates. Resulting foreign currency transaction gains and losses related to conversion and remeasurement are recorded in general and administrative expense in the consolidated statements of operations and were not material for fiscal 2022, 2021 and 2020. Where a non-U.S. currency is the functional currency, translation from that functional currency to the U.S. dollar is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using an average exchange rate for the period. Resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss) on the consolidated balance sheets.
Derivative financial instruments and Non-derivative financial instrument designated as a net investment hedge
Derivative financial instruments. The Company uses foreign exchange forward derivative contracts to reduce its exposure to foreign currency rate changes on forecasted non-functional currency denominated operational cash flows. The terms of these derivative contracts designated as cash flow hedges are generally no more than 12 months. The Company uses regression analysis to assess hedge effectiveness prospectively and retrospectively. The effectiveness tests are performed on foreign exchange forward contracts based on changes in the spot rate of the derivative instrument compared to changes in the spot rate of the forecasted hedged transaction.
Derivatives are carried at fair value on a gross basis on the consolidated balance sheets. Gains and losses resulting from changes in the fair value of cash flow hedges are accounted for in accumulated other comprehensive income (loss) on the consolidated balance sheets. When the forecasted transaction occurs and is recognized in earnings, the amount in accumulated other comprehensive income (loss) related to that hedge is reclassified to the consolidated statements of operations in the corresponding account where revenue or expense is recorded. Forward points are excluded from effectiveness testing purposes and are reported in earnings. Derivatives designated as cash flow hedges are subject to master netting agreements, which provide the Company with a legal right to net settle multiple payable and receivable positions with the same counterparty, in a single currency through a single payment. However, the Company presents fair values on a gross basis on the consolidated balance sheets.

The Company holds foreign exchange forward contracts and other non-derivative financial instruments which were designated as a net investment hedge against a portion of the Company’s net investment in Visa Europe. The Company also holds interest rate and cross-currency swap agreements on a portion of the outstanding senior notes that allows the Company to manage its interest rate exposure through a combination of fixed and floating rates and reduce the overall cost of borrowing. The Company designated the interest rate swaps as a fair value hedge and the cross-currency swaps as a net investment hedge. Gains and losses related to changes in fair value hedges are
recognized in non-operating income (expense) along with a corresponding loss or gain related to the change in fair value of the underlying hedged item in the same line item in the consolidated statements of operations. Gains and losses related to changes in the fair value of net investment hedge derivatives and non-derivative financial instruments are recorded in other comprehensive income (loss). Amounts excluded from the effectiveness testing of net investment hedges are recognized in non-operating income (expense).
The Company utilizes foreign exchange derivative contracts to hedge against foreign currency exchange rate fluctuations related to certain monetary assets and liabilities denominated in foreign currencies. Gains and losses resulting from changes in the fair value of these derivative instruments not designated for hedge accounting are recorded in general and administrative expense for hedges of operating activities, or non-operating income (expense) for hedges of non-operating activities.
Cash flows associated with a cash flow hedge are classified as an operating activity on the consolidated statements of cash flows. Cash flows associated with a fair value hedge may be included in operating, investing or financing activities depending on the classification of the items being hedged. Cash flows associated with a net investment hedge are classified as an investing activity. See Note 13—Derivative and Non-derivative Financial Instruments.
Share-based compensation Share-based compensation. The Company recognizes share-based compensation cost, net of estimated forfeitures, using the fair value method of accounting. The Company recognizes compensation cost for awards with only service conditions on a straight-line basis over the requisite service period, which is generally the vesting period. Compensation cost for performance-based awards is recognized on a graded-vesting basis. The amount is initially estimated based on target performance and is adjusted as appropriate based on management’s best estimate throughout the performance period.
Earnings per share
Earnings per share. The Company calculates earnings per share using the two-class method to reflect the different rights of each class and series of outstanding common stock. The dilutive effect of incremental common stock equivalents is reflected in diluted earnings per share by application of the treasury stock method.
Basic earnings per share is computed by dividing net income available to each class of shares by the weighted-average number of shares of common stock and participating securities outstanding during the period. Participating securities include the Company’s series A, B and C preferred stock and restricted stock units (RSUs) that contain non-forfeitable rights to dividends or dividend equivalents. Net income is allocated to each class of common stock and participating securities based on its proportional ownership on an as-converted basis. The weighted-average number of shares outstanding of each class of common stock reflects changes in ownership over the periods presented. See Note 15—Stockholders’ Equity.
Diluted earnings per share is computed by dividing net income available by the weighted-average number of shares of common stock outstanding, participating securities outstanding and, if dilutive, potential class A common stock equivalent shares outstanding during the period. Dilutive class A common stock equivalents may consist of: (1) shares of class A common stock issuable upon the conversion of series A, B and C preferred stock and class B and C common stock based on the conversion rates in effect through the period, and (2) incremental shares of class A common stock calculated by applying the treasury stock method to the assumed exercise of employee stock options, the assumed purchase of stock under the Company’s Employee Stock Purchase Plan and the assumed vesting of unearned performance shares.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the existing guidance and making other minor improvements. The Company adopted this guidance effective October 1, 2021. The adoption did not have a material impact on the consolidated financial statements.
In January 2020, the FASB issued ASU 2020-01, which clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for purposes of applying the fair value measurement alternative. The Company adopted this guidance effective October 1, 2021. The adoption did not have a material impact on the consolidated financial statements.
v3.22.2.2
Acquisitions (Tables)
 12 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Allocation
The following table summarizes the purchase price allocation for Tink:
Purchase Price AllocationWeighted-Average Useful Life
 (in millions)(in years)
Technology$245 4
Customer relationships90 6
Deferred tax liabilities(71)
Other net assets acquired (liabilities assumed)25 
Goodwill1,577 
Total$1,866 5
v3.22.2.2
Revenues (Tables)
 12 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenues The following tables disaggregate the Company’s net revenues by revenue category and by geography:
For the Years Ended
September 30,
202220212020
(in millions)
Service revenues$13,361 $11,475 $9,804 
Data processing revenues14,438 12,792 10,975 
International transaction revenues9,815 6,530 6,299 
Other revenues1,991 1,675 1,432 
Client incentives(10,295)(8,367)(6,664)
Net revenues$29,310 $24,105 $21,846 
For the Years Ended
September 30,
202220212020
(in millions)
U.S.$12,851 $11,160 $10,125 
International16,459 12,945 11,721 
Net revenues$29,310 $24,105 $21,846 
v3.22.2.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Tables)
 12 Months Ended
Sep. 30, 2022
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]  
Schedule of Cash and Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported in the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
September 30,
20222021
(in millions)
Cash and cash equivalents$15,689 $16,487 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,449 894 
Customer collateral
2,342 2,260 
Prepaid expenses and other current assets
897 158 
Cash, cash equivalents, restricted cash and restricted cash equivalents$20,377 $19,799 
v3.22.2.2
U.S. and Europe Retrospective Responsibility Plans (Tables)
 12 Months Ended
Sep. 30, 2022
Retrospective Responsibility Plans [Abstract]  
Changes in the U.S. litigation escrow account
The following table presents the changes in the restricted cash equivalents—U.S. litigation escrow account:
20222021
 (in millions)
Balance at beginning of period$894 $901 
Deposits into the litigation escrow account850 — 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(295)(7)
Balance at end of period$1,449 $894 
(1)These payments are associated with the interchange multidistrict litigation. See Note 20—Legal Matters.
Changes in Preferred Stock and Right to Recover for Covered Losses
The following table presents the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity:
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2021$1,071 $1,523 $(133)
VE territory covered losses incurred(1)
— — (43)
Recovery through conversion rate adjustment(135)(6)141 
Sixth Anniversary Release(476)(705)— 
Balance as of September 30, 2022$460 $812 $(35)
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2020$1,106 $1,543 $(39)
VE territory covered losses incurred(1)
— — (147)
Recovery through conversion rate adjustment(2)
(35)(20)53 
Balance as of September 30, 2021$1,071 $1,523 $(133)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 20—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
Preferred Stock As-Converted Value and Book Value
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded in stockholders’ equity within the Company’s consolidated balance sheets:
September 30,
20222021
As-converted Value of Preferred Stock(1),(2)
Book Value of Preferred Stock(1)
As-converted Value of Preferred Stock(1),(3)
Book Value of Preferred Stock(1)
(in millions)
Series B preferred stock$1,309 $460 $3,493 $1,071 
Series C preferred stock2,044 812 4,806 1,523 
Total3,353 1,272 8,299 2,594 
Less: right to recover for covered losses(35)(35)(133)(133)
Total recovery for covered losses available$3,318 $1,237 $8,166 $2,461 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)As of September 30, 2022, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.971 and 3.645, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $177.65, Visa’s class A common stock closing stock price.
(3)As of September 30, 2021, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 6.321 and 6.834, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $222.75, Visa’s class A common stock closing stock price.
v3.22.2.2
Fair Value Measurements and Investments (Tables)
 12 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Fair Value Measurements at September 30
Using Inputs Considered as
Level 1Level 2
2022202120222021
(in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds$11,736 $11,779 $— $— 
U.S. government-sponsored debt securities— — — 100 
U.S. Treasury securities799 2,400 — — 
Investment securities:
Marketable equity securities437 490 — — 
U.S. government-sponsored debt securities— — 457 245 
U.S. Treasury securities4,005 2,985 — — 
Other current and non-current assets:
Money market funds22 4 — — 
Derivative instruments— — 1,131 410 
Total$16,999 $17,658 $1,588 $755 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability$146 $167 $— $— 
Accrued and other liabilities:
Derivative instruments— — 418 109 
Total$146 $167 $418 $109 
Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Value of Debt Securities
The amortized cost, unrealized gains and losses and fair value of debt securities were as follows:
September 30, 2022
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$458 $— $(1)$457 
U.S. Treasury securities4,937 — (133)4,804 
Total$5,395 $— $(134)$5,261 
Debt securities with continuous unrealized losses for less than 12 months were as follows:
September 30, 2022
Fair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$408 $(1)
U.S. Treasury securities3,507 (133)
Total$3,915 $(134)
Debt Securities Classified by Contractual Maturity Date
The stated maturities of debt securities were as follows:
September 30,
2022
 (in millions)
Due within one year$3,125 
Due after 1 year through 5 years2,136 
Total$5,261 
Schedule of Non-Marketable Equity Securities
The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of September 30, 2022 including cumulative unrealized gains and losses:
September 30,
2022
(in millions)
Initial cost basis$734 
Adjustments:
Upward adjustments810 
Downward adjustments (including impairment)(349)
Carrying amount, end of period$1,195 
Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of September 30, 2022 and 2021 were as follows:
For the Years Ended
September 30,
20222021
(in millions)
Upward adjustments$231 $484 
Downward adjustments (including impairment)$(341)$(3)
Schedule of Investment Income
Investment income (expense) is recorded as non-operating income (expense) in the Company’s consolidated statements of operations and consisted of the following:
 For the Years Ended
September 30,
 202220212020
 (in millions)
Interest and dividend income on cash and investments$69 $(16)$80 
Realized gains (losses), net on debt securities— — 4 
Equity securities:
Unrealized gains (losses), net(364)721 115 
Realized gains (losses), net68 26 1 
Investment income (expense)$(227)$731 $200 
v3.22.2.2
Property, Equipment and Technology, Net (Tables)
 12 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, equipment and technology, net, consisted of the following:
September 30,
20222021
 (in millions)
Land$72 $72 
Buildings and building improvements1,003 1,008 
Furniture, equipment and leasehold improvements2,230 2,048 
Construction-in-progress285 226 
Technology5,291 4,320 
Total property, equipment and technology8,881 7,674 
Accumulated depreciation and amortization(5,658)(4,959)
Property, equipment and technology, net$3,223 $2,715 
Estimated future amortization expense on technology
At September 30, 2022, estimated future amortization expense on technology was as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
 (in millions)
Estimated future amortization expense$538 $437 $339 $188 $66 $15 $1,583 
v3.22.2.2
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
Indefinite-lived and finite-lived intangible assets consisted of the following: 
September 30,
20222021
 GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
 (in millions)
Finite-lived intangible assets:
Customer relationships$836 $(513)$323 $726 $(440)$286 
Trade names195 (159)36 199 (148)51 
Reseller relationships95 (95)— 95 (92)3 
Other16 (16)— 16 (15)1 
Total finite-lived intangible assets1,142 (783)359 1,036 (695)341 
Indefinite-lived intangible assets:
Customer relationships and reacquired rights
20,622 — 20,622 23,239 — 23,239 
Visa trade name4,084 — 4,084 4,084 — 4,084 
Total indefinite-lived intangible assets24,706 — 24,706 27,323 — 27,323 
Total intangible assets$25,848 $(783)$25,065 $28,359 $(695)$27,664 
Schedule of Indefinite-Lived Intangible Assets
Indefinite-lived and finite-lived intangible assets consisted of the following: 
September 30,
20222021
 GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
 (in millions)
Finite-lived intangible assets:
Customer relationships$836 $(513)$323 $726 $(440)$286 
Trade names195 (159)36 199 (148)51 
Reseller relationships95 (95)— 95 (92)3 
Other16 (16)— 16 (15)1 
Total finite-lived intangible assets1,142 (783)359 1,036 (695)341 
Indefinite-lived intangible assets:
Customer relationships and reacquired rights
20,622 — 20,622 23,239 — 23,239 
Visa trade name4,084 — 4,084 4,084 — 4,084 
Total indefinite-lived intangible assets24,706 — 24,706 27,323 — 27,323 
Total intangible assets$25,848 $(783)$25,065 $28,359 $(695)$27,664 
Schedule of Estimated Future Amortization Expense
At September 30, 2022, estimated future amortization expense on finite-lived intangible assets was as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Estimated future amortization expense$76 $74 $59 $42 $40 $68 $359 
Schedule of Goodwill
The changes in goodwill during the years ended September 30, 2022 and 2021 were as follows:
20222021
(in millions)
Goodwill, beginning of period
$15,958 $15,910 
Goodwill from acquisitions, net of adjustments
2,320 63 
Foreign currency translation
(491)(15)
Goodwill, end of period$17,787 $15,958 
v3.22.2.2
Leases (Tables)
 12 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Schedule of Present Value of Future Minimum Lease Payments
At September 30, 2022, the present value of future minimum lease payments was as follows:
September 30,
2022
(in millions)
2023$102 
2024107 
202591 
202678 
202758 
Thereafter121 
Total undiscounted lease payments557 
Less: imputed interest(37)
Present value of lease liabilities$520 
v3.22.2.2
Debt (Tables)
 12 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Outstanding debt
The Company had outstanding debt as follows:
September 30,
20222021
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
2.15% Senior Notes due September 2022
$— $1,000 2.30 %
2.80% Senior Notes due December 2022
2,250 2,250 2.89 %
3.15% Senior Notes due December 2025
4,000 4,000 3.26 %
1.90% Senior Notes due April 2027
1,500 1,500 2.02 %
0.75% Senior Notes due August 2027
500 500 0.84 %
2.75% Senior Notes due September 2027
750 750 2.91 %
2.05% Senior Notes due April 2030
1,500 1,500 2.13 %
1.10% Senior Notes due February 2031
1,000 1,000 1.20 %
4.15% Senior Notes due December 2035
1,500 1,500 4.23 %
2.70% Senior Notes due April 2040
1,000 1,000 2.80 %
4.30% Senior Notes due December 2045
3,500 3,500 4.37 %
3.65% Senior Notes due September 2047
750 750 3.73 %
2.00% Senior Notes due August 2050
1,750 1,750 2.09 %
Euro notes
1.50% Senior Notes due June 2026
1,325 — 1.71 %
2.00% Senior Notes due June 2029
982 — 2.13 %
2.375% Senior Notes due June 2034
638 — 2.53 %
Total debt22,945 21,000 
Unamortized discounts and debt issuance costs(173)(161)
Hedge accounting fair value adjustments(2)
(322)138 
Total carrying value of debt$22,450 $20,977 
Reported as:
Current maturities of debt$2,250 $999 
Long-term debt20,200 19,978 
Total carrying value of debt$22,450 $20,977 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes. See Note 1—Summary of Significant Accounting Policies and Note 13—Derivative and Non-derivative Financial Instruments.
Future Principal Payments on Outstanding Debt
At September 30, 2022, future principal payments on the Company’s outstanding debt were as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Future principal payments$2,250 $— $— $5,325 $2,750 $12,620 $22,945 
v3.22.2.2
Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Change in benefit obligations and plan assets
A reconciliation of pension benefit obligations, plan assets, funded status and amounts recognized in the Company’s consolidated balance sheets were as follows:
U.S. PlansNon-U.S. Plans
 September 30,September 30,
 2022202120222021
 (in millions)
Change in pension benefit obligation:
Benefit obligation at beginning of period
$877 $920 $520 $563 
Service cost— — 3 4 
Interest cost24 25 10 10 
Actuarial (gain) loss(185)(8)(174)(53)
Benefit payments(53)(60)(14)(28)
Foreign currency exchange rate changes
— — (67)24 
Benefit obligation at end of period$663 $877 $278 $520 
Accumulated benefit obligation$663 $877 $278 $520 
Change in plan assets:
Fair value of plan assets at beginning of period
$1,288 $1,142 $548 $525 
Actual return on plan assets(275)205 (151)9 
Company contribution— 1 20 21 
Benefit payments(53)(60)(14)(28)
Foreign currency exchange rate changes
— — (76)21 
Fair value of plan assets at end of period
$960 $1,288 $327 $548 
Funded status at end of period$297 $411 $49 $28 
Recognized in consolidated balance sheets:
Non-current asset$302 $417 $51 $30 
Current liability(1)(1)— — 
Non-current liability(4)(5)(2)(2)
Funded status at end of period$297 $411 $49 $28 
Amounts recognized in accumulated other comprehensive income (loss) before tax
Amounts recognized in accumulated other comprehensive income (loss) before tax consist of the following: 
U.S. PlansNon-U.S. Plans
September 30,September 30,
 2022202120222021
 (in millions)
Net actuarial (gain) loss$150 $(11)$35 $47 
Net periodic benefit cost
Net periodic benefit cost consists of the following:
U.S. PlansNon-U.S. Plans
For the Years Ended September 30,
 202220212020202220212020
 (in millions)
Service cost$— $— $— $3 $4 $4 
Interest cost24 25 28 10 10 10 
Expected return on assets(80)(70)(72)(18)(17)(15)
Amortization of actuarial (gain) loss — 3 6 — 4 2 
Settlement (gain) loss10 (1)8 — 2 — 
Total net periodic benefit cost$(46)$(43)$(30)$(5)$3 $1 
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) consist of the following: 
U.S. PlansNon-U.S. Plans
For the Years Ended September 30,
202220212020202220212020
 (in millions)
Current year actuarial (gain) loss $170 $(143)$(5)$(5)$(45)$21 
Amortization of actuarial gain (loss) — (3)(14)— (6)(2)
Total recognized in other comprehensive (income) loss$170 $(146)$(19)$(5)$(51)$19 
Total recognized in net periodic benefit cost and other comprehensive (income) loss$124 $(189)$(49)$(10)$(48)$20 
Weighted average actuarial assumptions
Weighted-average actuarial assumptions used to estimate the benefit obligation and net periodic benefit cost were as follows:
U.S. PlansNon-U.S. Plans
 For the Years Ended September 30,
 202220212020202220212020
Discount rate for benefit obligation:
Pension5.52 %2.98 %2.88 %5.00 %2.10 %1.60 %
Discount rate for net periodic benefit cost:
Pension2.98 %2.88 %3.27 %2.10 %1.60 %1.80 %
Expected long-term rate of return on plan assets6.50 %6.50 %7.00 %3.50 %3.50 %3.00 %
Rate of increase(1) in compensation levels for:
Benefit obligationNA NA NA2.50 %2.50 %2.50 %
Net periodic benefit costNA NA NA2.50 %2.50 %2.50 %
(1)This assumption is not applicable for the U.S. plans due to the amendment of the U.S. qualified defined benefit pension plan in October 2015, which discontinued the employer provided credits effective after December 31, 2015.
Pension plan investments at fair value
The following tables set forth by level, within the fair value hierarchy, the pension plans’ investments at fair value, including the impact of transactions that were not settled at the end of September:
U.S. Plans
Fair Value Measurements at September 30 Using Inputs Considered as
Level 1Level 2Level 3Total
20222021202220212022202120222021
(in millions)
Cash equivalents$40 $20 $— $— $— $— $40 $20 
Collective investment funds— — 319 548 — — 319 548 
Corporate debt securities— — 392 455 — — 392 455 
U.S. government-sponsored debt securities
— — 22 28 — — 22 28 
U.S. Treasury securities
101 105 — — — — 101 105 
Asset-backed securities— — — — 29 31 29 31 
Equity securities57 101 — — — — 57 101 
Total
$198 $226 $733 $1,031 $29 $31 $960 $1,288 
Non-U.S. Plans
Fair Value Measurements at September 30 Using Inputs Considered as
Level 1Level 2Level 3Total
20222021202220212022202120222021
(in millions)
Cash and cash equivalents$3 $18 $— $— $— $— $3 $18 
Corporate debt securities— — 91 51 — — 91 51 
Asset-backed securities— — — — 45 78 45 78 
Equity funds— — 13 68 — — 13 68 
Multi-asset securities(1)
— — 175 333 — — 175 333 
Total
$3 $18 $279 $452 $45 $78 $327 $548 
(1)Multi-asset securities represent pension plan assets that are invested in funds comprised of broad ranges of assets.
Expected future employer contributions and benefit payments
Expected future employer contributions and benefit payments are as follows:
U.S. PlansNon-U.S. Plans
(in millions)
Expected employer contributions
2023$1 $17 
Expected benefit payments
2023$109 $6 
2024$75 $6 
2025$71 $6 
2026$66 $6 
2027$63 $7 
2028-2032$245 $37 
v3.22.2.2
Settlement Guarantee Management (Tables)
 12 Months Ended
Sep. 30, 2022
Settlement Guarantee Management [Abstract]  
Schedule of Customer Collateral The Company held the following collateral to manage settlement exposure:
September 30,
20222021
 (in millions)
Restricted cash and restricted cash equivalents$2,342 $2,260 
Pledged securities at market value213 254 
Letters of credit1,582 1,518 
Guarantees950 758 
Total$5,087 $4,790 
v3.22.2.2
Derivative and Non-derivative Financial Instruments (Tables)
 12 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments at Gross Value
The following table shows the Company’s derivative instruments at gross fair value:
September 30,
Balance Sheet Location20222021
(in millions)
Assets
Designated as Hedging Instrument:
Foreign exchange contractsPrepaid expenses and other current assets and other assets$1,096 $270 
Interest rate swapOther assets$— $138 
Not Designated as Hedging Instrument:
Foreign exchange contractsPrepaid expenses and other current assets$35 $2 
Liabilities
Designated as Hedging Instrument:
Foreign exchange contractsAccrued liabilities$49 $13 
Cross-currency swapOther liabilities$— $90 
Interest rate swapOther liabilities$322 $— 
Not Designated as Hedging Instrument:
Foreign exchange contractsAccrued liabilities$47 $6 
v3.22.2.2
Enterprise-wide Disclosures and Concentration of Business (Tables)
 12 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Schedule of long-lived net property, equipment and technology assets by major geographic area
The Company’s long-lived net property and equipment and ROU assets are classified by major geographic areas as follows:
September 30,
20222021
 (in millions)
U.S.$1,312 $1,286 
International531 596 
Total$1,843 $1,882 
v3.22.2.2
Stockholders' Equity (Tables)
 12 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Schedule of Common Stock as Converted The number of shares of each series and class, and the number of shares of class A common stock on an as-converted basis were as follows:
September 30,
20222021
Shares
Outstanding		Conversion Rate Into Class A Common Stock
As-converted Class A Common Stock(1)
Shares
Outstanding		Conversion Rate Into Class A Common Stock
As-converted Class A Common Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 16 — 
(2)
100.0000 7 
Series B preferred stock2 2.9710 7 2 6.3210 16 
Series C preferred stock3 3.6450 12 3 6.8340 22 
Class A common stock(3)
1,635 — 1,635 1,677 — 1,677 
Class B common stock245 1.6059 
(4)
394 245 1.6228 
(4)
398 
Class C common stock10 4.0000 39 10 4.0000 41 
Total2,103 2,161 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)Class A common stock shares outstanding reflect repurchases that settled on or before September 30, 2022 and 2021.
(4)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments and completed its Sixth Anniversary Release in fiscal 2022 and fourth anniversary release in fiscal 2020 (collectively Anniversary Releases):
For the Years Ended September 30,
202220212020
Series BSeries CSeries BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock8 10 — 
(1)
— 
(1)
16 22 
Effective price per share(2)
$197.93 $197.50 $220.84 $220.71 $194.31 $194.33 
Recovery through conversion rate adjustment
$135 $6 $35 $20 $72 $92 
Anniversary Releases$1,510 $1,982 $— $— $3,084 $4,216 
(1)The reduction in equivalent number of shares of class A common stock was less than one million shares.
(2)Effective price per share for each adjustment made during the year is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock. Effective price per share for each fiscal year is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Effect of U.S. Retrospective Responsibility Plan on the Company Class Common B As-Converted Shares
The following table presents the reduction in the number of as-converted class B common stock after deposits into the U.S. litigation escrow account for fiscal 2022. There was no comparable adjustment recorded for class B common stock for fiscal 2021 and 2020.
For the Year Ended
September 30, 2022
(in millions, except per share data)
Reduction in equivalent number of class A common stock4 
Effective price per share(1)
$205.06 
Deposits under the U.S. retrospective responsibility plan$850 
(1)Effective price per share is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation. Effective price per share for the fiscal year is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Schedule of Share Repurchases in the Open Market The following table presents share repurchases in the open market:
For the Years Ended September 30,
202220212020
(in millions, except per share data)
Shares repurchased in the open market(1)
56 40 44 
Average repurchase price per share(2)
$206.47 $219.03 $183.00 
Total cost(2)
$11,589 $8,676 $8,114 
(1)Shares repurchased in the open market reflect repurchases that settled during fiscal 2022, 2021 and 2020. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share and total cost are calculated based on unrounded numbers.
v3.22.2.2
Earnings Per Share (Tables)
 12 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
The following table presents earnings per share for fiscal 2022: 
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$11,569 1,651 $7.01 $14,957 2,136 (3)$7.00 
Class B common stock2,781 245 $11.33 2,778 245 $11.31 
Class C common stock280 10 $28.03 280 10 $28.00 
Participating securities327 Not presentedNot presented326 Not presentedNot presented
Net income$14,957 
The following table presents earnings per share for fiscal 2021:
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$9,527 1,691 $5.63 $12,311 2,188 (3)$5.63 
Class B common stock2,244 245 $9.14 2,242 245 $9.13 
Class C common stock237 10 $22.53 236 10 $22.51 
Participating securities303 Not presentedNot presented303 Not presentedNot presented
Net income$12,311 
The following table presents earnings per share for fiscal 2020:
Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,310 1,697 $4.90 $10,866 2,223 (3)$4.89 
Class B common stock1,951 245 $7.94 1,948 245 $7.93 
Class C common stock214 11 $19.58 214 11 $19.56 
Participating securities391 Not presentedNot presented391 Not presentedNot presented
Net income$10,866 
(1)Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 397 million for each of fiscal 2022 and 398 million for fiscal 2021 and 2020. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 40 million, 42 million and 44 million for fiscal 2022, 2021 and 2020, respectively. The weighted-average number of shares of preferred stock included within participating securities was 8 million, 12 million and 1 million of as-converted series A preferred stock for fiscal 2022, 2021 and 2020, respectively, 14 million, 16 million and 32 million of as-converted series B preferred stock for fiscal 2022, 2021 and 2020, and 20 million, 22 million and 43 million of as-converted series C preferred stock for fiscal 2022, 2021 and 2020, respectively.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Weighted-average diluted shares outstanding are calculated on an as-converted basis, and include incremental common stock equivalents, as calculated under the treasury stock method. The common stock equivalents are not material for each of fiscal 2022, 2021 and 2020.
v3.22.2.2
Share-based Compensation (Tables)
 12 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Weighted-Average Assumption Model for Stock Options
The fair value of each stock option was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
For the Years Ended September 30,
202220212020
Expected term (in years)(1)
4.114.074.03
Risk-free rate of return(2)
1.1 %0.3 %1.6 %
Expected volatility(3)
27.1 %25.1 %18.7 %
Expected dividend yield(4)
0.7 %0.6 %0.7 %
Fair value per option granted$43.16$39.51$29.37
(1)Based on Visa’s historical exercise experience.
(2)Based on the zero-coupon U.S. Treasury constant maturity yield curve, continuously compounded over the expected term of the awards.
(3)Based on the Company’s implied and historical volatilities.
(4)Based on the Company’s annual dividend rate on the date of grant.
Options Activity Disclosure
The following table summarizes the Company’s option activity:
OptionsWeighted-
Average
Exercise Price
Per Share		Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 20215,839,779 $134.56 
Granted961,570 $200.86 
Forfeited(134,247)$199.34 
Expired(1,264)$207.57 
Exercised(497,214)$104.15 
Outstanding at September 30, 20226,168,624 $145.92 6.09$250 
Options exercisable at September 30, 20224,299,455 $122.49 5.14$250 
Options exercisable and expected to vest at September 30, 2022(2)
6,122,504 $145.50 6.07$250 
(1)Calculated using the closing stock price on the last trading day of fiscal 2022 of $177.65, less the option exercise price, multiplied by the number of instruments.
(2)Applied a forfeiture rate to unvested options outstanding at September 30, 2022 to estimate the options expected to vest in the future.
Restricted Stock Unit Activity Disclosure
The following table summarizes the Company’s RSU activity:
 UnitsWeighted-
Average
Grant Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 20214,526,448 $188.16 
Granted
3,967,313 $204.73 
Vested
(2,166,662)$175.23 
Forfeited
(532,779)$200.24 
Outstanding at September 30, 20225,794,320 $203.23 1.07$1,029 
(1)Calculated by multiplying the closing stock price on the last trading day of fiscal 2022 of $177.65 by the number of instruments.
Weighted-Average Assumption Model for PSUs
The fair value of each performance-based shares incorporating the market condition was estimated on the date of grant using a Monte Carlo simulation model with the following weighted-average assumptions:
For the Years Ended September 30,
202220212020
Expected term (in years)2.052.001.90
Risk-free rate of return(1)
0.5 %0.2 %1.6 %
Expected volatility(2)
28.3 %27.2 %20.9 %
Expected dividend yield(3)
0.8 %0.6 %0.7 %
Fair value per performance-based share granted$186.50$229.81$211.08
(1)Based on the zero-coupon U.S. treasury constant maturity yield curve, continuously compounded over the expected term of the awards
(2)Based on the Company’s implied and historical volatilities.
(3)Based on the Company’s annual dividend rate on the date of grant.
Performance-based Shares Activity Disclosure
The following table summarizes the maximum number of performance-based shares which could be earned and related activity:
Shares
Weighted-
Average
Grant Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(1)
(in millions)
Outstanding at September 30, 2021863,860 $204.82 
Granted(2)
440,722 $186.50 
Vested and earned(245,922)$200.90 
Unearned(200,800)$190.43 
Forfeited(23,664)$199.20 
Outstanding at September 30, 2022834,196 $199.92 0.89$148 
(1)Calculated by multiplying the closing stock price on the last trading day of fiscal 2022 of $177.65 by the number of instruments.
(2)Represents the maximum number of performance-based shares which could be earned.
v3.22.2.2
Commitments (Tables)
 12 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Payments on Software Licenses At September 30, 2022, future minimum payments on software licenses are as follows:
For the Years Ending September 30,
20232024202520262027ThereafterTotal
(in millions)
Software licenses$83 $27 $7 $— $— $— $117 
v3.22.2.2
Income Taxes (Tables)
 12 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
U.S. and Non-U.S. Income Before Income Tax
The Company’s income before taxes by fiscal year consisted of the following:
For the Years Ended September 30,
202220212020
 (in millions)
U.S.$11,051 $11,002 $9,178 
Non-U.S.7,085 5,061 4,612 
Total income before taxes$18,136 $16,063 $13,790 
Comprehensive Income Tax (Expense) Benefit Components Table
Income tax provision by fiscal year consisted of the following:
For the Years Ended September 30,
202220212020
 (in millions)
Current:
U.S. federal$2,166 $1,943 $1,662 
State and local104 69 212 
Non-U.S.1,245 869 743 
Total current taxes3,515 2,881 2,617 
Deferred:
U.S. federal(231)(57)42 
State and local(77)(28)9 
Non-U.S.(28)956 256 
Total deferred taxes(336)871 307 
Total income tax provision$3,179 $3,752 $2,924 
Components of Deferred Tax Assets and Liabilities
The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities, are presented below:
September 30,
20222021
 (in millions)
Deferred Tax Assets:
Accrued compensation and benefits$172 $166 
Accrued litigation obligation331 234 
Client incentives442 327 
Net operating loss carryforwards117 104 
Comprehensive loss21 106 
Federal benefit of state taxes133 157 
Other71 55 
Valuation allowance(120)(103)
Deferred tax assets1,167 1,046 
Deferred Tax Liabilities:
Property, equipment and technology, net(450)(346)
Intangible assets(5,788)(6,452)
Unrealized gains on equity securities(124)(203)
Foreign taxes(50)(93)
Deferred tax liabilities(6,412)(7,094)
Net deferred tax liabilities$(5,245)$(6,048)
Reconciliation of the US Statutory Federal Tax Rate
The income tax provision differs from the amount of income tax determined by applying the applicable U.S. federal statutory rate to pretax income, as a result of the following:
 For the Years Ended September 30,
 202220212020
 (in millions, except percentages)
U.S. federal income tax at statutory rate$3,809 21 %$3,373 21 %$2,896 21 %
State income taxes, net of federal benefit216 1 %222 1 %199 2 %
Non-U.S. tax effect, net of federal benefit(588)(3 %)(505)(3 %)(483)(4 %)
Remeasurement of deferred tax balances— — %1,007 6 %329 2 %
Conclusion of audits— — %(255)(2 %)— — %
State tax apportionment position(176)(1 %)— — %— — %
Other, net(82)— %(90)— %(17)— %
Income tax provision$3,179 18 %$3,752 23 %$2,924 21 %
Unrecognized Tax Benefits Reconciliation, Table
A reconciliation of beginning and ending unrecognized tax benefits by fiscal year is as follows: 
202220212020
 (in millions)
Balance at beginning of period$2,488 $2,579 $2,234 
Increases of unrecognized tax benefits related to prior years10 34 66 
Decreases of unrecognized tax benefits related to prior years(143)(386)(83)
Increases of unrecognized tax benefits related to current year350 326 376 
Decreases related to settlements with taxing authorities(19)(63)(12)
Reductions related to lapsing statute of limitations(3)(2)(2)
Balance at end of period$2,683 $2,488 $2,579 
v3.22.2.2
Legal Matters (Tables)
 12 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Loss Contingencies by Contingency
The following table summarizes the activity related to accrued litigation:
20222021
 (in millions)
Balance at beginning of period$983 $914 
Provision for uncovered legal matters6 4 
Provision for covered legal matters885 125 
Payments for legal matters(418)(60)
Balance at end of period$1,456 $983 
The following table summarizes the accrual activity related to U.S. covered litigation:
20222021
 (in millions)
Balance at beginning of period$881 $888 
Provision for interchange multidistrict litigation861 — 
Payments for U.S. covered litigation(301)(7)
Balance at end of period$1,441 $881 
The following table summarizes the accrual activity related to VE territory covered litigation:
20222021
 (in millions)
Balance at beginning of period$102 $21 
Provision for VE territory covered litigation24 125 
Payments for VE territory covered litigation(115)(44)
Balance at end of period$11 $102 
v3.22.2.2
Summary of Significant Accounting Policies (Detail)
 12 Months Ended
Feb. 01, 2022
USD ($)
Sep. 30, 2022
USD ($)
taxComponent
segment
country
Significant Accounting Policies [Line Items]    
Number of countries in which entity operates (more than) | country   200
Deconsolidation loss   $ 35,000,000
Number of reportable segments | segment   1
Indefinite-lived intangible impairment $ 0  
Goodwill, impairment loss $ 0  
Number of tax components | taxComponent   2
Term of derivative contracts designated as cash flow hedges   12 months
Minimum    
Significant Accounting Policies [Line Items]    
Acquired long-lived intangible assets useful life   3 years
Minimum | U.S.    
Significant Accounting Policies [Line Items]    
Expected average employee future service period (in years)   7 years
Minimum | Non-U.S. Plans    
Significant Accounting Policies [Line Items]    
Expected average employee future service period (in years)   7 years
Maximum    
Significant Accounting Policies [Line Items]    
Acquired long-lived intangible assets useful life   15 years
Maximum | U.S.    
Significant Accounting Policies [Line Items]    
Expected average employee future service period (in years)   9 years
Maximum | Non-U.S. Plans    
Significant Accounting Policies [Line Items]    
Expected average employee future service period (in years)   9 years
Technology Equipment | Minimum    
Significant Accounting Policies [Line Items]    
Estimated useful life   2 years
Technology Equipment | Maximum    
Significant Accounting Policies [Line Items]    
Estimated useful life   10 years
Furniture and Fixtures | Minimum    
Significant Accounting Policies [Line Items]    
Estimated useful life   2 years
Furniture and Fixtures | Maximum    
Significant Accounting Policies [Line Items]    
Estimated useful life   10 years
Equipment | Minimum    
Significant Accounting Policies [Line Items]    
Estimated useful life   2 years
Equipment | Maximum    
Significant Accounting Policies [Line Items]    
Estimated useful life   10 years
Building Improvements | Minimum    
Significant Accounting Policies [Line Items]    
Estimated useful life   3 years
Building Improvements | Maximum    
Significant Accounting Policies [Line Items]    
Estimated useful life   40 years
Building    
Significant Accounting Policies [Line Items]    
Estimated useful life   40 years
v3.22.2.2
Acquisitions - Additional Information (Details) - USD ($)
$ in Millions
Mar. 10, 2022
Dec. 20, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Business Acquisition [Line Items]          
Goodwill     $ 17,787 $ 15,958 $ 15,910
The Currency Cloud Group Limited          
Business Acquisition [Line Items]          
Total consideration   $ 893      
Amount allocated to technology, intangible assets, other net assets acquired and deferred tax liabilities   150      
Goodwill   $ 743      
Tink AB          
Business Acquisition [Line Items]          
Goodwill $ 1,577        
Business acquisition, percent acquired 100.00%        
Total consideration, cash $ 1,900        
v3.22.2.2
Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($)
$ in Millions
Mar. 10, 2022
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Business Acquisition [Line Items]        
Goodwill   $ 17,787 $ 15,958 $ 15,910
Tink AB        
Business Acquisition [Line Items]        
Deferred tax liabilities $ (71)      
Other net assets acquired (liabilities assumed) 25      
Goodwill 1,577      
Total $ 1,866      
Weighted-Average Useful Life 5 years      
Tink AB | Technology        
Business Acquisition [Line Items]        
Finite-lived intangibles $ 245      
Weighted-Average Useful Life 4 years      
Tink AB | Customer relationships        
Business Acquisition [Line Items]        
Finite-lived intangibles $ 90      
Weighted-Average Useful Life 6 years      
v3.22.2.2
Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Disaggregation of Revenue [Line Items]      
Net revenues $ 29,310 $ 24,105 $ 21,846
U.S.      
Disaggregation of Revenue [Line Items]      
Net revenues 12,851 11,160 10,125
International      
Disaggregation of Revenue [Line Items]      
Net revenues 16,459 12,945 11,721
Service revenues      
Disaggregation of Revenue [Line Items]      
Net revenues 13,361 11,475 9,804
Data processing revenues      
Disaggregation of Revenue [Line Items]      
Net revenues 14,438 12,792 10,975
International transaction revenues      
Disaggregation of Revenue [Line Items]      
Net revenues 9,815 6,530 6,299
Other revenues      
Disaggregation of Revenue [Line Items]      
Net revenues 1,991 1,675 1,432
Client incentives      
Disaggregation of Revenue [Line Items]      
Net revenues $ (10,295) $ (8,367) $ (6,664)
v3.22.2.2
Revenues - Additional Information (Details)
$ in Billions
Sep. 30, 2022
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 1.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, percentage 50.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period 2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, percentage 50.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period
v3.22.2.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 15,689 $ 16,487    
Cash, cash equivalents, restricted cash and restricted cash equivalents 20,377 19,799 $ 19,171 $ 10,832
U.S. litigation escrow        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: 1,449 894    
Customer collateral        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: 2,342 2,260    
Prepaid expenses and other current assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: $ 897 $ 158    
v3.22.2.2
U.S. and Europe Retrospective Responsibility Plans - Changes in the U.S. Litigation Escrow Account (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Escrow Account [Roll Forward]    
Balance at beginning of period $ 894 $ 901
Deposits into the litigation escrow account 850 0
Balance at end of period 1,449 894
Interest Income | Opt-out Merchants    
Escrow Account [Roll Forward]    
Payments to opt-out merchants, net of interest earned on escrow funds $ (295) $ (7)
v3.22.2.2
U.S. and Europe Retrospective Responsibility Plans - Additional Information (Details)
€ in Millions, $ in Millions
 12 Months Ended
Jul. 29, 2022
USD ($)
shares
Sep. 30, 2022
EUR (€)
shares
Sep. 30, 2020
shares
 [2]
Jun. 21, 2016
EUR (€)
Class of Stock [Line Items]        
Omnibus loss sharing agreement percentage   66.6667%    
Litigation loss sharing agreement, obligation threshold | €       € 1,000
Limit of protection from VE territory covered losses       70.00%
VE covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period | €   € 20    
Conversion adjustment denominator (in shares) 100      
Preferred stock, conversion ratio 100      
Series A convertible participating preferred stock        
Class of Stock [Line Items]        
Preferred stock issued | $ $ 3,500      
Preferred stock, shares issued (in shares) 176,655      
Cash paid for fractional shares of series A preferred stock | $ $ 3      
Preferred Stock | Series A convertible participating preferred stock        
Class of Stock [Line Items]        
Preferred stock, shares issued (in shares)   0 [1] 0  
MasterCard        
Class of Stock [Line Items]        
Omnibus loss sharing agreement percentage   33.3333%    
[1] Increase or decrease is less than one million shares.
[2] Increase or decrease is less than one million shares.
v3.22.2.2
U.S. and Europe Retrospective Responsibility Plans - Changes in Preferred Stock and Right to Recover Covered Losses (Details)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
USD ($)
$ / shares
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Sep. 30, 2020
USD ($)
shares
Sep. 30, 2019
shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance $ 37,589 $ 36,210 $ 34,684  
VE territory covered losses incurred (43) (147) (37)  
Recovery through conversion rate adjustment 0 (2) 5  
Ending Balance 35,581 37,589 36,210  
As-converted Value of Preferred Stock 3,353 8,299    
Book Value of Preferred Stock 2,324 3,080    
Book Value of Preferred Stock, Total 1,272 2,594    
Less: right to recover for covered losses (35) (133)    
As-converted value of Preferred Stock, Total recovery for covered losses available 3,318 8,166    
Book value of Preferred of Stock, Total recovery for covered losses available $ 1,237 2,461    
Share price (in dollars per share) | $ / shares $ 177.65      
Series B        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Recovery through conversion rate adjustment $ 135 35 72  
As-converted Value of Preferred Stock 1,309 3,493    
Book Value of Preferred Stock $ 460 $ 1,071    
Preferred stock, shares outstanding (in shares) | shares 2 2    
Preferred stock, conversion rate 2.9710 6.3210    
Series C        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Recovery through conversion rate adjustment $ 6 $ 20 92  
As-converted Value of Preferred Stock 2,044 4,806    
Book Value of Preferred Stock $ 812 $ 1,523    
Preferred stock, shares outstanding (in shares) | shares 3 3    
Preferred stock, conversion rate 3.6450 6.8340    
Class A common stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Share price (in dollars per share) | $ / shares $ 177.65 $ 222.75    
Preferred Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance $ 3,080 [1],[2] $ 5,086 [1] 5,462  
Recovery through conversion rate adjustment (141) (55) (164)  
Ending Balance $ 2,324 [2] $ 3,080 [1],[2] $ 5,086 [1]  
Preferred stock, shares outstanding (in shares) | shares 5 5 5 5
Preferred Stock | Series B        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance $ 1,071 $ 1,106    
VE territory covered losses incurred 0 0    
Recovery through conversion rate adjustment (135) (35)    
Sixth Anniversary Release (476)      
Ending Balance 460 1,071 $ 1,106  
Preferred Stock | Series C        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance 1,523 1,543    
VE territory covered losses incurred 0 0    
Recovery through conversion rate adjustment (6) (20)    
Sixth Anniversary Release (705)      
Ending Balance 812 1,523 1,543  
Right to Recover for Covered Losses        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance (133) (39) (171)  
VE territory covered losses incurred (43) (147) (37)  
Recovery through conversion rate adjustment 141 53 169  
Sixth Anniversary Release 0      
Ending Balance $ (35) $ (133) $ (39)  
[1] As of September 30, 2021 and 2020, the book value of series A preferred stock was $486 million and $2.4 billion, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
[2] As of September 30, 2022 and 2021, the book value of series A preferred stock was $1.0 billion and $486 million, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
v3.22.2.2
Fair Value Measurements and Investments - Assets and Liabilities Measured (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Assets    
Investment securities $ 5,261  
Liabilities    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Liabilities Liabilities
Fair Value, Measurements, Recurring | Level 1    
Assets    
Total $ 16,999 $ 17,658
Liabilities    
Deferred compensation liability 146 167
Derivative instruments 0 0
Total 146 167
Fair Value, Measurements, Recurring | Level 1 | Money market funds    
Assets    
Cash equivalents and restricted cash equivalents: 11,736 11,779
Other current and non-current assets: 22 4
Fair Value, Measurements, Recurring | Level 1 | U.S. government-sponsored debt securities    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Investment securities 0 0
Fair Value, Measurements, Recurring | Level 1 | Marketable equity securities    
Assets    
Marketable equity securities 437 490
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities    
Assets    
Cash equivalents and restricted cash equivalents: 799 2,400
Investment securities 4,005 2,985
Fair Value, Measurements, Recurring | Level 1 | Derivative instruments    
Assets    
Other current and non-current assets: 0 0
Fair Value, Measurements, Recurring | Level 2    
Assets    
Total 1,588 755
Liabilities    
Deferred compensation liability 0 0
Derivative instruments 418 109
Total 418 109
Fair Value, Measurements, Recurring | Level 2 | Money market funds    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Other current and non-current assets: 0 0
Fair Value, Measurements, Recurring | Level 2 | U.S. government-sponsored debt securities    
Assets    
Cash equivalents and restricted cash equivalents: 0 100
Investment securities 457 245
Fair Value, Measurements, Recurring | Level 2 | Marketable equity securities    
Assets    
Marketable equity securities 0 0
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Investment securities 0 0
Fair Value, Measurements, Recurring | Level 2 | Derivative instruments    
Assets    
Other current and non-current assets: $ 1,131 $ 410
v3.22.2.2
Fair Value Measurements and Investments - Additional Information (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total carrying value of debt $ 22,450 $ 20,977
Senior Notes    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total carrying value of debt 22,500 21,000
Senior Notes | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Estimated fair value of debt $ 19,900 $ 22,500
v3.22.2.2
Fair Value Measurements and Investments - Amortized Cost, Unrealized Gains and Losses, and Fair Value of Available-for-sale Securities (Detail)
$ in Millions
Sep. 30, 2022
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost $ 5,395
Gross Unrealized Gains 0
Gross Unrealized Losses (134)
Fair Value 5,261
Fair Value 3,915
Gross Unrealized Losses (134)
U.S. government-sponsored debt securities  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 458
Gross Unrealized Gains 0
Gross Unrealized Losses (1)
Fair Value 457
Fair Value 408
Gross Unrealized Losses (1)
U.S. Treasury securities  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 4,937
Gross Unrealized Gains 0
Gross Unrealized Losses (133)
Fair Value 4,804
Fair Value 3,507
Gross Unrealized Losses $ (133)
v3.22.2.2
Fair Value Measurements and Investments - Contractual Maturity of Debt Securities (Detail)
$ in Millions
Sep. 30, 2022
USD ($)
Fair Value  
Due within one year $ 3,125
Due after 1 year through 5 years 2,136
Total $ 5,261
v3.22.2.2
Fair Value Measurements and Investments - Schedule of Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Fair Value Disclosures [Abstract]    
Initial cost basis $ 734  
Upward adjustments 810  
Downward adjustments (including impairment) (349)  
Carrying amount, end of period 1,195  
Upward adjustments 231 $ 484
Downward adjustments (including impairment) $ (341) $ (3)
v3.22.2.2
Fair Value Measurements and Investments - Investment Income (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Fair Value Disclosures [Abstract]      
Interest and dividend income on cash and investments $ 69 $ (16) $ 80
Realized gains (losses), net on debt securities 0   4
Equity securities:      
Unrealized gains (losses), net (364) 721 115
Realized gains (losses), net 68 26 1
Investment income (expense) $ (227) $ 731 $ 200
v3.22.2.2
Property, Equipment and Technology, Net - Summary of Property, Equipment and Technology, Net (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology $ 8,881 $ 7,674
Accumulated depreciation and amortization (5,658) (4,959)
Property, equipment and technology, net 3,223 2,715
Land    
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology 72 72
Buildings and building improvements    
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology 1,003 1,008
Furniture, equipment and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology 2,230 2,048
Construction-in-progress    
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology 285 226
Technology    
Property, Plant and Equipment [Line Items]    
Total property, equipment and technology $ 5,291 $ 4,320
v3.22.2.2
Property, Equipment and Technology, Net - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]      
Technology, accumulated amortization $ 3,700 $ 3,200  
Depreciation and amortization 861 804 $ 767
Property, Equipment and Technology      
Finite-Lived Intangible Assets [Line Items]      
Depreciation and amortization $ 771 $ 721 $ 687
v3.22.2.2
Property, Equipment and Technology, Net - Estimated Future Amortization Expense on Technology Placed in Service (Detail) - Technology and Software
$ in Millions
Sep. 30, 2022
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2023 $ 538
2024 437
2025 339
2026 188
2027 66
Thereafter 15
Total $ 1,583
v3.22.2.2
Intangible Assets and Goodwill - Fair Value of Intangible Assets and Related Accumulated Amortization Expense (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]    
Gross $ 1,142 $ 1,036
Accumulated Amortization (783) (695)
Net 359 341
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived Intangible Assets 24,706 27,323
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Gross 25,848 28,359
Net 25,065 27,664
Customer relationships and reacquired rights    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived Intangible Assets 20,622 23,239
Visa trade name    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived Intangible Assets 4,084 4,084
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 836 726
Accumulated Amortization (513) (440)
Net 323 286
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Gross 195 199
Accumulated Amortization (159) (148)
Net 36 51
Reseller relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 95 95
Accumulated Amortization (95) (92)
Net 0 3
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross 16 16
Accumulated Amortization (16) (15)
Net $ 0 $ 1
v3.22.2.2
Intangible Assets and Goodwill - Additional Information (Detail) - USD ($)
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense related to finite-lived intangible assets $ 90,000,000 $ 83,000,000 $ 80,000,000
Goodwill and intangible asset impairment $ 0 $ 0 $ 0
v3.22.2.2
Intangible Assets and Goodwill - Estimated Future Amortization Expense on Finite-Lived Intangible Assets (Detail) - Intangibles From Acquired Entities
$ in Millions
Sep. 30, 2022
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2023 $ 76
2024 74
2025 59
2026 42
2027 40
Thereafter 68
Total $ 359
v3.22.2.2
Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Goodwill [Roll Forward]    
Goodwill, beginning of period $ 15,958 $ 15,910
Goodwill from acquisitions, net of adjustments 2,320 63
Foreign currency translation (491) (15)
Goodwill, end of period $ 17,787 $ 15,958
v3.22.2.2
Leases - Additional Information (Details)
$ in Millions
 12 Months Ended
Sep. 30, 2022
USD ($)
renewalOption
Sep. 30, 2021
USD ($)
renewalOption
Lessee, Lease, Description [Line Items]    
Number of renewal options (or more) | renewalOption 1 1
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
ROU assets $ 480 $ 515
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued liabilities Accrued liabilities
Current portion of lease liabilities $ 98 $ 103
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other liabilities Other liabilities
Noncurrent portion of lease liabilities $ 422 $ 471
Operating lease cost $ 117 $ 111
Weighted average remaining lease term (in years) 6 years 6 years
Weighted average discount rate 2.15% 2.23%
Right-of-use asset obtained in exchange for operating lease liability $ 74 $ 96
Operating leases, not yet commenced, lease obligations $ 531  
Minimum    
Lessee, Lease, Description [Line Items]    
Operating leases, non-cancellable lease terms 1 year  
Maximum    
Lessee, Lease, Description [Line Items]    
Operating leases, non-cancellable lease terms 15 years  
v3.22.2.2
Leases - Schedule of Present Value of Future Minimum Lease Payments (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Leases [Abstract]  
2023 $ 102
2024 107
2025 91
2026 78
2027 58
Thereafter 121
Total undiscounted lease payments 557
Less: imputed interest (37)
Present value of lease liabilities $ 520
v3.22.2.2
Debt - Senior Notes (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Debt Instrument [Line Items]    
Senior notes $ 22,945  
Unamortized discounts and debt issuance costs (173) $ (161)
Hedge accounting fair value adjustments (322) 138
Total carrying value of debt 22,450 20,977
Current maturities of debt 2,250 999
Long-term debt 20,200 19,978
Senior Notes    
Debt Instrument [Line Items]    
Total debt 22,945 21,000
Total carrying value of debt $ 22,500 21,000
Senior Notes | 2.15% Senior Notes due September 2022 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.15%  
Senior notes $ 0 1,000
Effective interest rate (percent) 2.30%  
Senior Notes | 2.80% Senior Notes due December 2022 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.80%  
Senior notes $ 2,250 2,250
Effective interest rate (percent) 2.89%  
Senior Notes | 3.15% Senior Notes due December 2025 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.15%  
Senior notes $ 4,000 4,000
Effective interest rate (percent) 3.26%  
Senior Notes | 1.90% Senior Notes due April 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.90%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 2.02%  
Senior Notes | 0.75% Senior Notes due August 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 0.75%  
Senior notes $ 500 500
Effective interest rate (percent) 0.84%  
Senior Notes | 2.75% Senior Notes due September 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.75%  
Senior notes $ 750 750
Effective interest rate (percent) 2.91%  
Senior Notes | 2.05% Senior Notes due April 2030 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.05%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 2.13%  
Senior Notes | 1.10% Senior Notes due February 2031 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.10%  
Senior notes $ 1,000 1,000
Effective interest rate (percent) 1.20%  
Senior Notes | 4.15% Senior Notes due December 2035 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.15%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 4.23%  
Senior Notes | 2.70% Senior Notes due April 2040 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.70%  
Senior notes $ 1,000 1,000
Effective interest rate (percent) 2.80%  
Senior Notes | 4.30% Senior Notes due December 2045 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.30%  
Senior notes $ 3,500 3,500
Effective interest rate (percent) 4.37%  
Senior Notes | 3.65% Senior Notes due September 2047 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.65%  
Senior notes $ 750 750
Effective interest rate (percent) 3.73%  
Senior Notes | 2.00% Senior Notes due August 2050 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.00%  
Senior notes $ 1,750 1,750
Effective interest rate (percent) 2.09%  
Senior Notes | 1.50% Senior Notes due June 2026 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.50%  
Senior notes $ 1,325 0
Effective interest rate (percent) 1.71%  
Senior Notes | 2.00% Senior Notes due June 2029 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.00%  
Senior notes $ 982 0
Effective interest rate (percent) 2.13%  
Senior Notes | 2.375% Senior Notes due June 2034 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.375%  
Senior notes $ 638 $ 0
Effective interest rate (percent) 2.53%  
v3.22.2.2
Debt - Additional Information (Detail)
€ in Billions
 1 Months Ended 12 Months Ended
Jul. 25, 2019
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2022
EUR (€)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2022
EUR (€)
Jun. 30, 2022
EUR (€)
Debt Instrument [Line Items]                
Repayments of debt       $ 1,000,000,000 $ 3,000,000,000 $ 0    
Repayments of commercial paper       $ 950,000,000        
Commercial Paper Program                
Debt Instrument [Line Items]                
Debt term       397 days        
Debt instrument, maximum borrowing capacity       $ 3,000,000,000        
Commercial paper program, amount outstanding       0 0      
Line of Credit | Revolving Credit Facility | Credit Facility                
Debt Instrument [Line Items]                
Debt term 5 years              
Maximum borrowing capacity $ 5,000,000,000              
Credit facility amount outstanding       0 $ 0      
Senior Notes | U.S. dollar notes                
Debt Instrument [Line Items]                
Repayments of debt       $ 1,000,000,000        
Senior Notes | Europe | June 2022 Notes                
Debt Instrument [Line Items]                
Aggregate principal   $ 3,200,000,000         € 3.0 € 3.0
Net aggregate proceeds   $ 3,200,000,000 € 3.0          
Senior Notes | Europe | 1.50% Senior Notes due June 2026                
Debt Instrument [Line Items]                
Stated interest rate (percent)       1.50%     1.50%  
Senior Notes | Europe | 2.00% Senior Notes due June 2029                
Debt Instrument [Line Items]                
Stated interest rate (percent)       2.00%     2.00%  
Senior Notes | Europe | 2.375% Senior Notes due June 2034                
Debt Instrument [Line Items]                
Stated interest rate (percent)       2.375%     2.375%  
Senior Notes | Europe | Maximum | June 2022 Notes                
Debt Instrument [Line Items]                
Debt term   12 years 12 years          
Senior Notes | Europe | Minimum | June 2022 Notes                
Debt Instrument [Line Items]                
Debt term   4 years 4 years          
v3.22.2.2
Debt - Debt Maturities (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Debt Disclosure [Abstract]  
2023 $ 2,250
2024 0
2025 0
2026 5,325
2027 2,750
Thereafter 12,620
Total $ 22,945
v3.22.2.2
Pension and Other Postretirement Benefits - Change in Pension Benefit Obligations, Plan Assets, Funded Status and Amounts Recognized in the Consolidated Balance Sheets (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
U.S. Plans      
Change in pension benefit obligation:      
Benefit obligation at beginning of period $ 877 $ 920  
Service cost 0 0 $ 0
Interest cost 24 25 28
Actuarial (gain) loss (185) (8)  
Benefit payments (53) (60)  
Foreign currency exchange rate changes 0 0  
Benefit obligation at end of period 663 877 920
Accumulated benefit obligation 663 877  
Change in plan assets:      
Fair value of plan assets at beginning of period 1,288 1,142  
Actual return on plan assets (275) 205  
Company contribution 0 1  
Benefit payments (53) (60)  
Foreign currency exchange rate changes 0 0  
Fair value of plan assets at end of period 960 1,288 1,142
Funded status at end of period 297 411  
Recognized in consolidated balance sheets:      
Non-current asset 302 417  
Current liability (1) (1)  
Non-current liability (4) (5)  
Funded status at end of period 297 411  
Non-U.S. Plans      
Change in pension benefit obligation:      
Benefit obligation at beginning of period 520 563  
Service cost 3 4 4
Interest cost 10 10 10
Actuarial (gain) loss (174) (53)  
Benefit payments (14) (28)  
Foreign currency exchange rate changes (67) 24  
Benefit obligation at end of period 278 520 563
Accumulated benefit obligation 278 520  
Change in plan assets:      
Fair value of plan assets at beginning of period 548 525  
Actual return on plan assets (151) 9  
Company contribution 20 21  
Benefit payments (14) (28)  
Foreign currency exchange rate changes (76) 21  
Fair value of plan assets at end of period 327 548 $ 525
Funded status at end of period 49 28  
Recognized in consolidated balance sheets:      
Non-current asset 51 30  
Current liability 0 0  
Non-current liability (2) (2)  
Funded status at end of period $ 49 $ 28  
v3.22.2.2
Pension and Other Postretirement Benefits - Amounts Recognized in Accumulated Comprehensive Income Before Tax (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
U.S. Plans    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial (gain) loss $ 150 $ (11)
Non-U.S. Plans    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial (gain) loss $ 35 $ 47
v3.22.2.2
Pension and Other Postretirement Benefits - Net Periodic Pension and Other Postretirement Plan Cost (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Investment income (expense) and other Investment income (expense) and other Investment income (expense) and other
U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Service cost $ 0 $ 0 $ 0
Interest cost 24 25 28
Expected return on assets (80) (70) (72)
Amortization of actuarial (gain) loss 0 3 6
Settlement (gain) loss 10 (1) 8
Total net periodic benefit cost (46) (43) (30)
Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Service cost 3 4 4
Interest cost 10 10 10
Expected return on assets (18) (17) (15)
Amortization of actuarial (gain) loss 0 4 2
Settlement (gain) loss 0 2 0
Total net periodic benefit cost $ (5) $ 3 $ 1
v3.22.2.2
Pension and Other Postretirement Benefits - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Current year actuarial (gain) loss $ 170 $ (143) $ (5)
Amortization of actuarial gain (loss) 0 (3) (14)
Total recognized in other comprehensive (income) loss 170 (146) (19)
Total recognized in net periodic benefit cost and other comprehensive (income) loss 124 (189) (49)
Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Current year actuarial (gain) loss (5) (45) 21
Amortization of actuarial gain (loss) 0 (6) (2)
Total recognized in other comprehensive (income) loss (5) (51) 19
Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (10) $ (48) $ 20
v3.22.2.2
Pension and Other Postretirement Benefits - Weighted Average Actuarial Assumptions (Detail)
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate for benefit obligation: Pension 5.52% 2.98% 2.88%
Discount rate for net periodic benefit cost: Pension 2.98% 2.88% 3.27%
Expected long-term rate of return on plan assets 6.50% 6.50% 7.00%
Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate for benefit obligation: Pension 5.00% 2.10% 1.60%
Discount rate for net periodic benefit cost: Pension 2.10% 1.60% 1.80%
Expected long-term rate of return on plan assets 3.50% 3.50% 3.00%
Rate of increase in compensation levels for:      
Benefit obligation 2.50% 2.50% 2.50%
Net periodic benefit cost 2.50% 2.50% 2.50%
v3.22.2.2
Pension and Other Postretirement Benefits - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined contribution plan, personnel costs $ 161 $ 141 $ 140
U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Weighted average interest crediting rate, benefit obligation 4.52% 1.98% 1.88%
Weighted average interest crediting rate, benefit cost 1.98% 1.88% 2.26%
Equity securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Actual plan asset allocations 39.00%    
Fixed income securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Actual plan asset allocations 57.00%    
Other security investments | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Actual plan asset allocations 4.00%    
Other security investments | Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 55.00%    
Actual plan asset allocations 58.00%    
Equity funds | Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 5.00%    
Actual plan asset allocations 4.00%    
Interest and inflation hedging assets | Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 40.00%    
Actual plan asset allocations 38.00%    
Minimum | Equity securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 25.00%    
Minimum | Fixed income securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 53.00%    
Maximum | Equity securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 55.00%    
Maximum | Fixed income securities | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 63.00%    
Maximum | Other security investments | U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target allocation, percentage 4.00%    
v3.22.2.2
Pension and Other Postretirement Benefits - Pension Plan Assets (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets $ 960 $ 1,288 $ 1,142
U.S. Plans | Fair Value, Measurements, Recurring      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 960 1,288  
U.S. Plans | Fair Value, Measurements, Recurring | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 40 20  
U.S. Plans | Fair Value, Measurements, Recurring | Collective investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 319 548  
U.S. Plans | Fair Value, Measurements, Recurring | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 392 455  
U.S. Plans | Fair Value, Measurements, Recurring | U.S. government-sponsored debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 22 28  
U.S. Plans | Fair Value, Measurements, Recurring | U.S. Treasury securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 101 105  
U.S. Plans | Fair Value, Measurements, Recurring | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 29 31  
U.S. Plans | Fair Value, Measurements, Recurring | Equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 57 101  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 198 226  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 40 20  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Collective investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | U.S. government-sponsored debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 101 105  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 57 101  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 733 1,031  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Collective investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 319 548  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 392 455  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | U.S. government-sponsored debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 22 28  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 29 31  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Collective investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | U.S. government-sponsored debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 29 31  
U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 327 548 $ 525
Non-U.S. Plans | Fair Value, Measurements, Recurring      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 327 548  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 3 18  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 91 51  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 45 78  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Equity funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 13 68  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Multi-asset securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 175 333  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 3 18  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 3 18  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Equity funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 1 | Multi-asset securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 279 452  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 91 51  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Equity funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 13 68  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 2 | Multi-asset securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 175 333  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 45 78  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Cash and cash equivalents      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 45 78  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Equity funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0 0  
Non-U.S. Plans | Fair Value, Measurements, Recurring | Level 3 | Multi-asset securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets $ 0 $ 0  
v3.22.2.2
Pension and Other Postretirement Benefits - Employer Contributions (Detail)
$ in Millions
Sep. 30, 2022
USD ($)
U.S. Plans  
Expected employer contributions  
2023 $ 1
Expected benefit payments  
2023 109
2024 75
2025 71
2026 66
2027 63
2028-2032 245
Non-U.S. Plans  
Expected employer contributions  
2023 17
Expected benefit payments  
2023 6
2024 6
2025 6
2026 6
2027 7
2028-2032 $ 37
v3.22.2.2
Settlement Guarantee Management - Additional Information (Detail)
$ in Billions
 12 Months Ended
Sep. 30, 2022
USD ($)
Settlement Guarantee Management [Abstract]  
Maximum settlement exposure $ 116.3
Average daily settlement exposure $ 71.8
v3.22.2.2
Settlement Guarantee Management - Collateral (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Settlement Guarantee Management [Abstract]    
Restricted cash and restricted cash equivalents $ 2,342 $ 2,260
Pledged securities at market value 213 254
Letters of credit 1,582 1,518
Guarantees 950 758
Total $ 5,087 $ 4,790
v3.22.2.2
Derivative and Non-derivative Financial Instruments - Additional Information (Detail)
€ in Billions
 12 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2022
EUR (€)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
EUR (€)
Jun. 30, 2022
USD ($)
Derivative [Line Items]              
Net unrealized gain (loss) $ 190,000,000 $ 0 $ 0        
Expected amount of accumulated other comprehensive income (loss) expected to be reclassified 140,000,000            
Pre-tax gains (losses) in other comprehensive income (loss) related to net investment hedges 845,000,000 20,000,000 (318,000,000)        
Earnings related to forward points and interest differentials from forward contracts and swap agreements $ 151,000,000 156,000,000 $ 150,000,000        
June 2022 Notes | Europe | Senior Notes              
Derivative [Line Items]              
Aggregate principal       € 3.0   € 3.0 $ 3,200,000,000
Accrued liabilities              
Derivative [Line Items]              
Collateral received with counterparties         $ 348,000,000    
Other Assets              
Derivative [Line Items]              
Posted collateral         62,000,000    
Designated as Hedging Instrument              
Derivative [Line Items]              
Notional amount   11,200,000,000     11,900,000,000    
Designated as Hedging Instrument | June 2022 Notes | Net Investment Hedging              
Derivative [Line Items]              
Hedged liability, fair value hedge | €       € 1.2      
Not Designated as Hedging Instrument              
Derivative [Line Items]              
Notional amount   $ 800,000,000     $ 1,500,000,000    
v3.22.2.2
Derivative and Non-derivative Financial Instruments - Schedule of Derivative Instruments at Gross Value (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Foreign exchange contracts | Designated as Hedging Instrument | Prepaid expenses and other current assets and other assets    
Derivative [Line Items]    
Assets $ 1,096 $ 270
Foreign exchange contracts | Designated as Hedging Instrument | Accrued liabilities    
Derivative [Line Items]    
Liabilities 49 13
Foreign exchange contracts | Not Designated as Hedging Instrument | Prepaid expenses and other current assets    
Derivative [Line Items]    
Assets 35 2
Foreign exchange contracts | Not Designated as Hedging Instrument | Accrued liabilities    
Derivative [Line Items]    
Liabilities 47 6
Interest rate swap | Designated as Hedging Instrument | Other assets    
Derivative [Line Items]    
Assets 0 138
Interest rate swap | Designated as Hedging Instrument | Other liabilities    
Derivative [Line Items]    
Liabilities 322 0
Cross-currency swap | Designated as Hedging Instrument | Other liabilities    
Derivative [Line Items]    
Liabilities $ 0 $ 90
v3.22.2.2
Enterprise-wide Disclosures and Concentration of Business - Long-Lived Net Property, Equipment and Technology Assets Classified by Major Geographic Area (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting Information [Line Items]    
Total $ 1,843 $ 1,882
U.S.    
Segment Reporting Information [Line Items]    
Total 1,312 1,286
International    
Segment Reporting Information [Line Items]    
Total $ 531 $ 596
v3.22.2.2
Enterprise-wide Disclosures and Concentration of Business - Additional Information (Detail) - Net Operating Revenue
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Customer Concentration Risk | Customer One      
Concentration Risk [Line Items]      
Concentration risk, percentage 10.00% 11.00% 11.00%
Customer Concentration Risk | Customer Two      
Concentration Risk [Line Items]      
Concentration risk, percentage     10.00%
U.S. | Geographic Concentration Risk      
Concentration Risk [Line Items]      
Concentration risk, percentage 44.00% 46.00% 46.00%
v3.22.2.2
Stockholders' Equity - Number of Shares of Class A Common Shares Outstanding on an As-Converted Basis (Detail)
shares in Millions
Sep. 30, 2022
shares
Sep. 30, 2021
shares
Class of Stock [Line Items]    
As-converted Class A Common Stock (in shares) 2,103 2,161
Series A preferred stock    
Class of Stock [Line Items]    
Preferred stock, shares outstanding (in shares) 0 0
Preferred stock conversion rate 100.0000 100.0000
As-converted Class A Common Stock (in shares) 16 7
Series B    
Class of Stock [Line Items]    
Preferred stock, shares outstanding (in shares) 2 2
Preferred stock conversion rate 2.9710 6.3210
As-converted Class A Common Stock (in shares) 7 16
Series C    
Class of Stock [Line Items]    
Preferred stock, shares outstanding (in shares) 3 3
Preferred stock conversion rate 3.6450 6.8340
As-converted Class A Common Stock (in shares) 12 22
Class A common stock    
Class of Stock [Line Items]    
Common stock, shares, outstanding (in shares) 1,635 1,677
As-converted Class A Common Stock (in shares) 1,635 1,677
Class B common stock    
Class of Stock [Line Items]    
Common stock, shares, outstanding (in shares) 245 245
Common stock, conversion rate 1.6059 1.6228
As-converted Class A Common Stock (in shares) 394 398
Class C common stock    
Class of Stock [Line Items]    
Common stock, shares, outstanding (in shares) 10 10
Common stock, conversion rate 4.0000 4.0000
As-converted Class A Common Stock (in shares) 39 41
v3.22.2.2
Stockholders' Equity - Additional Information (Detail)
$ / shares in Units, $ in Billions
 12 Months Ended
Jul. 29, 2022
shares
Sep. 30, 2022
USD ($)
preferredStockSeries
shares
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Oct. 31, 2022
USD ($)
Oct. 21, 2022
$ / shares
Dec. 31, 2021
USD ($)
Jan. 31, 2021
USD ($)
Class of Stock [Line Items]                
Stock repurchase program, authorized amount             $ 12.0 $ 8.0
Stock repurchase plan, remaining authorized funds   $ 5.2            
Dividends, paid   $ 3.2 $ 2.8 $ 2.7        
Number of series of preferred stock acquired | preferredStockSeries   3            
Subsequent Event                
Class of Stock [Line Items]                
Stock repurchase program, authorized amount         $ 12.0      
Dividends declared, quarterly, per share amount (in dollars per share) | $ / shares           $ 0.45    
Series A convertible participating preferred stock                
Class of Stock [Line Items]                
Issuance of stock (in shares) | shares 176,655              
Preferred stock, conversion rate   100.0000 100.0000          
Visa Europe | Class A equivalent preferred stock                
Class of Stock [Line Items]                
Preferred stock, conversion rate   100            
Share Repurchase Program Aggregate | Class C common stock                
Class of Stock [Line Items]                
Shares of class C common stock released from transfer restrictions, converted to class A common stock (in shares) | shares   142,000,000            
v3.22.2.2
Stockholders' Equity - Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Conversion of Stock [Line Items]      
Recovery through conversion rate adjustment $ 0 $ (2) $ 5
Series B      
Conversion of Stock [Line Items]      
Reduction in equivalent number of class A common stock (in shares) 8 0 16
Effective price per share (in dollars per share) $ 197.93 $ 220.84 $ 194.31
Recovery through conversion rate adjustment $ 135 $ 35 $ 72
Anniversary Releases $ 1,510 $ 0 $ 3,084
Series C      
Conversion of Stock [Line Items]      
Reduction in equivalent number of class A common stock (in shares) 10 0 22
Effective price per share (in dollars per share) $ 197.50 $ 220.71 $ 194.33
Recovery through conversion rate adjustment $ 6 $ 20 $ 92
Anniversary Releases $ 1,982 $ 0 $ 4,216
v3.22.2.2
Stockholders' Equity - Schedule of As-Converted Class B Common Stock (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Equity [Abstract]    
Reduction in equivalent number of class A common stock (in shares) 4  
Effective price per share (in dollars per share) $ 205.06  
Deposits under the U.S. retrospective responsibility plan $ 850 $ 0
v3.22.2.2
Stockholders' Equity - Share Repurchases in the Open Market (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Class of Stock [Line Items]      
Total cost $ 11,589 $ 8,676 $ 8,114
Class A common stock      
Class of Stock [Line Items]      
Shares repurchased in the open market (in shares) 56 40 44
Average repurchase price per share (in dollars per share) $ 206.47 $ 219.03 $ 183.00
Total cost $ 11,589 $ 8,676 $ 8,114
v3.22.2.2
Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Income allocation - basic earnings per share $ 14,957 $ 12,311 $ 10,866
Class A common stock      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Income allocation - basic earnings per share $ 11,569 $ 9,527 $ 8,310
Weighted-average shares outstanding - basic (in shares) 1,651 1,691 1,697
Earnings per share - basic (in dollars per share) $ 7.01 $ 5.63 $ 4.90
Income allocation - diluted earnings per share $ 14,957 $ 12,311 $ 10,866
Weighted-average shares outstanding - diluted (in shares) 2,136 2,188 2,223
Earnings per share - diluted (in dollars per share) $ 7.00 $ 5.63 $ 4.89
Class B common stock      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Income allocation - basic earnings per share $ 2,781 $ 2,244 $ 1,951
Weighted-average shares outstanding - basic (in shares) 245 245 245
Earnings per share - basic (in dollars per share) $ 11.33 $ 9.14 $ 7.94
Income allocation - diluted earnings per share $ 2,778 $ 2,242 $ 1,948
Weighted-average shares outstanding - diluted (in shares) 245 245 245
Earnings per share - diluted (in dollars per share) $ 11.31 $ 9.13 $ 7.93
Weighted average number shares as-converted basis (in shares) 397 398 398
Class C common stock      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Income allocation - basic earnings per share $ 280 $ 237 $ 214
Weighted-average shares outstanding - basic (in shares) 10 10 11
Earnings per share - basic (in dollars per share) $ 28.03 $ 22.53 $ 19.58
Income allocation - diluted earnings per share $ 280 $ 236 $ 214
Weighted-average shares outstanding - diluted (in shares) 10 10 11
Earnings per share - diluted (in dollars per share) $ 28.00 $ 22.51 $ 19.56
Weighted average number shares as-converted basis (in shares) 40 42 44
Participating securities      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Income allocation - basic earnings per share $ 327 $ 303 $ 391
Income allocation - diluted earnings per share $ 326 $ 303 $ 391
Weighted average number shares as-converted basis (in shares) 8 12 1
Series B      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Weighted average number shares as-converted basis (in shares) 14 16 32
Series C      
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]      
Weighted average number shares as-converted basis (in shares) 20 22 43
v3.22.2.2
Share-based Compensation - Additional Information (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Jan. 26, 2021
Jan. 25, 2021
Stock Option          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Expiration period of options issued under EIP 10 years        
Vesting period from the date of grant 3 years        
Total intrinsic value from options exercised $ 56 $ 124 $ 146    
Tax benefit from exercise of stock options 11 $ 23 $ 31    
Unrecognized compensation cost $ 22        
Total unrecognized compensation cost related to non-vested options expected to be recognized over a weighted average period (in years) 4 months 17 days        
Risk-free rate of return 1.10% 0.30% 1.60%    
Expected term (in years) 4 years 1 month 9 days 4 years 25 days 4 years 10 days    
Expected volatility 27.10% 25.10% 18.70%    
Expected dividend yield 0.70% 0.60% 0.70%    
Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period from the date of grant 3 years        
Unrecognized compensation cost $ 692        
Weighted average grant date fair value (in dollars per share) $ 204.73 $ 209.00 $ 183.61    
Total grant date fair value of shares vested and earned $ 380 $ 331 $ 284    
Weighted-average period 1 year 25 days        
Performance-based Shares          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period from the date of grant 3 years        
Unrecognized compensation cost $ 39        
Weighted average grant date fair value (in dollars per share) $ 186.50        
Total grant date fair value of shares vested and earned $ 49 $ 47 $ 65    
Weighted-average period 10 months 20 days        
Risk-free rate of return 0.50% 0.20% 1.60%    
Expected term (in years) 2 years 18 days 2 years 1 year 10 months 24 days    
Expected volatility 28.30% 27.20% 20.90%    
Expected dividend yield 0.80% 0.60% 0.70%    
2007 Equity Incentive Compensation Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Maximum number of Class A Common Stock authorized for issuance under EIP or ESPP (in shares)       198 236
Share-based compensation expense under EIP $ 571 $ 518 $ 393    
Tax benefit under EIP $ 82 $ 73 $ 63    
Employee Stock Purchase Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Maximum number of Class A Common Stock authorized for issuance under EIP or ESPP (in shares) 20        
ESPP discount from market price 15.00%        
v3.22.2.2
Share-based Compensation - Assumptions Used to Estimate the Fair Value of Each Stock Option on the Date of Grant Using a Black-Scholes Option Pricing Model (Detail) - Stock Option - $ / shares
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term (in years) 4 years 1 month 9 days 4 years 25 days 4 years 10 days
Risk-free rate of return 1.10% 0.30% 1.60%
Expected volatility 27.10% 25.10% 18.70%
Expected dividend yield 0.70% 0.60% 0.70%
Fair value per performance-based share granted (in dollars per share) $ 43.16 $ 39.51 $ 29.37
v3.22.2.2
Share-based Compensation - Summary of Option Activity (Detail)
$ / shares in Units, $ in Millions
 12 Months Ended
Sep. 30, 2022
USD ($)
$ / shares
shares
Aggregate Intrinsic Value  
Stock price used to calculate aggregate intrinsic value (in dollars per share) $ 177.65
Stock Option  
Options  
Beginning balance (in shares) | shares 5,839,779
Granted (in shares) | shares 961,570
Forfeited (in shares) | shares (134,247)
Expired (in shares) | shares (1,264)
Exercised (in shares) | shares (497,214)
Ending balance (in shares) | shares 6,168,624
Options exercisable at September 30, 2022 (in shares) | shares 4,299,455
Options exercisable and expected to vest at September 30, 2022 (in shares) | shares 6,122,504
Weighted- Average Exercise Price Per Share  
Beginning balance (in dollars per share) $ 134.56
Granted (in dollars per share) 200.86
Forfeited (in dollars per share) 199.34
Expired (in dollars per share) 207.57
Exercised (in dollars per share) 104.15
Ending balance (in dollars per share) 145.92
Options exercisable at September 30, 2022 (in dollars per share) 122.49
Options exercisable and expected to vest at September 30, 2022 (in dollars per share) $ 145.50
Weighted- Average Remaining Contractual Term (in years)  
Outstanding at September 30, 2022 6 years 1 month 2 days
Options exercisable at September 30, 2022 5 years 1 month 20 days
Options exercisable and expected to vest at September 30, 2022 6 years 25 days
Aggregate Intrinsic Value  
Outstanding at September 30, 2022 | $ $ 250
Options exercisable at September 30, 2022 | $ 250
Options exercisable and expected to vest at September 30, 2022 | $ $ 250
v3.22.2.2
Share-based Compensation - Summary of RSU Activity (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Aggregate Intrinsic Value      
Stock price used to calculate aggregate intrinsic value (in dollars per share) $ 177.65    
Restricted Stock Units (RSUs)      
Units      
Beginning balance (in shares) 4,526,448    
Granted (in shares) 3,967,313    
Vested and earned (in shares) (2,166,662)    
Forfeited (in shares) (532,779)    
Ending balance (in shares) 5,794,320 4,526,448  
Weighted- Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 188.16    
Granted (in dollars per share) 204.73 $ 209.00 $ 183.61
Vested and earned (in dollars per share) 175.23    
Forfeited (in dollars per share) 200.24    
Ending balance (in dollars per share) $ 203.23 $ 188.16  
Weighted- Average Remaining Contractual Term (in years)      
Outstanding at September 30, 2022 1 year 25 days    
Aggregate Intrinsic Value      
Outstanding at September 30, 2022 $ 1,029    
v3.22.2.2
Share-based Compensation - Assumptions Used to Estimate Fair Value Using Monte Carlo Model (Details) - Performance-based Shares - $ / shares
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term (in years) 2 years 18 days 2 years 1 year 10 months 24 days
Risk-free rate of return 0.50% 0.20% 1.60%
Expected volatility 28.30% 27.20% 20.90%
Expected dividend yield 0.80% 0.60% 0.70%
Fair value per performance-based share granted (in dollars per share) $ 186.50 $ 229.81 $ 211.08
v3.22.2.2
Share-based Compensation - Summary of Performance-based Shares Activity (Detail)
$ / shares in Units, $ in Millions
 12 Months Ended
Sep. 30, 2022
USD ($)
$ / shares
shares
Aggregate Intrinsic Value  
Stock price used to calculate aggregate intrinsic value (in dollars per share) $ 177.65
Performance-based Shares  
Shares  
Beginning balance (in shares) | shares 863,860
Granted (in shares) | shares 440,722
Vested and earned (in shares) | shares (245,922)
Unearned (in shares) | shares (200,800)
Forfeited (in shares) | shares (23,664)
Ending balance (in shares) | shares 834,196
Weighted- Average Grant Date Fair Value  
Beginning balance (in dollars per share) $ 204.82
Granted (in dollars per share) 186.50
Vested and earned (in dollars per share) 200.90
Unearned (in dollars per share) 190.43
Forfeited (in dollars per share) 199.20
Ending balance (in dollars per share) $ 199.92
Weighted- Average Remaining Contractual Term (in years)  
Outstanding at September 30, 2022 10 months 20 days
Aggregate Intrinsic Value  
Outstanding at September 30, 2022 | $ $ 148
v3.22.2.2
Commitments - Future Minimum Payments on Software Licenses (Detail) - Software licenses
$ in Millions
Sep. 30, 2022
USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]  
2023 $ 83
2024 27
2025 7
2026 0
2027 0
Thereafter 0
Total $ 117
v3.22.2.2
Income Taxes - Income Before Taxes by Fiscal Year (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Income Tax Disclosure [Abstract]      
U.S. $ 11,051 $ 11,002 $ 9,178
Non-U.S. 7,085 5,061 4,612
Income before income taxes $ 18,136 $ 16,063 $ 13,790
v3.22.2.2
Income Taxes - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Tax Credit Carryforward [Line Items]          
US income before taxes   $ 11,051 $ 11,002 $ 9,178  
Deferred tax assets, net $ 1,167 $ 1,167 $ 1,046    
Effective income tax rate   18.00% 23.00% 21.00%  
Recognized tax benefit 176        
Non-recurring, non-cash tax expense related to the remeasurement of UK deferred tax liabilities   $ 1,000   $ 329  
Effective income tax rate reconciliation, recognized tax benefit   0 $ 255 0  
Income taxes receivable included in prepaid and other current assets 190 190 83    
Income taxes payable included in accrued taxes as part of accrued liabilities 365 365 325    
Accrued income taxes included in other long-term liabilities 2,300 2,300 2,400    
Increase (decrease) in Singapore tax as a result of the tax incentive agreement   $ (362) $ (273) $ (280)  
Benefit of the tax incentive agreement on diluted net income per share (in dollars per share)   $ 0.17 $ 0.12 $ 0.13  
Total unrecognized tax benefits exclusive of interest and penalties 2,683 $ 2,683 $ 2,488 $ 2,579 $ 2,234
Unrecognized tax benefits, if recognized, would reduce the effective tax rate in a future period 1,300 1,300 1,300 1,600  
Interest expense included in interest expense and administrative and other   15 1 68  
Accrued penalties related to uncertain tax positions 31 31 3 4  
Accrued interest related to uncertain tax positions in other long term liabilities 238 238 233    
Accrued penalties related to uncertain tax positions in other long term liabilities 3 3 34    
Foreign Country          
Tax Credit Carryforward [Line Items]          
Net operating loss carryforwards 517 517      
Other Assets          
Tax Credit Carryforward [Line Items]          
Deferred tax assets, net 87 87 80    
Non-current income tax receivable $ 1,000 1,000 974    
Non United States Customers          
Tax Credit Carryforward [Line Items]          
US income before taxes   $ 3,600 $ 3,100 $ 3,000  
v3.22.2.2
Income Taxes - Income Tax Expense by Fiscal Year (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Current:      
U.S. federal $ 2,166 $ 1,943 $ 1,662
State and local 104 69 212
Non-U.S. 1,245 869 743
Total current taxes 3,515 2,881 2,617
Deferred:      
U.S. federal (231) (57) 42
State and local (77) (28) 9
Non-U.S. (28) 956 256
Total deferred taxes (336) 871 307
Total income tax provision $ 3,179 $ 3,752 $ 2,924
v3.22.2.2
Income Taxes - Tax Effect of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Sep. 30, 2021
Deferred Tax Assets:    
Accrued compensation and benefits $ 172 $ 166
Accrued litigation obligation 331 234
Client incentives 442 327
Net operating loss carryforwards 117 104
Comprehensive loss 21 106
Federal benefit of state taxes 133 157
Other 71 55
Valuation allowance (120) (103)
Deferred tax assets 1,167 1,046
Deferred Tax Liabilities:    
Property, equipment and technology, net (450) (346)
Intangible assets (5,788) (6,452)
Unrealized gains on equity securities (124) (203)
Foreign taxes (50) (93)
Deferred tax liabilities (6,412) (7,094)
Net deferred tax liabilities $ (5,245) $ (6,048)
v3.22.2.2
Income Taxes - Information that Causes the Income Tax Expense to Differ from the Amount of Income Tax Determined by Applying the Applicable U.S. Federal Statutory Rate of 35% to Pretax Income (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Income Tax Disclosure [Abstract]      
U.S. federal income tax at statutory rate $ 3,809 $ 3,373 $ 2,896
State income taxes, net of federal benefit 216 222 199
Non-U.S. tax effect, net of federal benefit (588) (505) (483)
Remeasurement of deferred tax balances 0 1,007 329
Conclusion of audits 0 (255) 0
State tax apportionment position (176) 0 0
Other, net (82) (90) (17)
Total income tax provision $ 3,179 $ 3,752 $ 2,924
U.S. federal income tax at statutory rate, percent 21.00% 21.00% 21.00%
State income taxes, net of federal benefit, percent 1.00% 1.00% 2.00%
Non-U.S. tax effect, net of federal benefit, percent (3.00%) (3.00%) (4.00%)
Remeasurement of deferred tax liability, percent 0.00% 6.00% 2.00%
Conclusion of audits, percent 0.00% (2.00%) 0.00%
State tax apportionment position, percent (1.00%) 0.00% 0.00%
Other, net, percent 0.00% 0.00% 0.00%
Effective Income Tax Rate Reconciliation, Percent, Total 18.00% 23.00% 21.00%
v3.22.2.2
Income Taxes - Reconciliation of Beginning and Ending Unrecognized Tax Benefits by Fiscal Year (Detail) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Balance at beginning of period $ 2,488 $ 2,579 $ 2,234
Increases of unrecognized tax benefits related to prior years 10 34 66
Decreases of unrecognized tax benefits related to prior years (143) (386) (83)
Increases of unrecognized tax benefits related to current year 350 326 376
Decreases related to settlements with taxing authorities (19) (63) (12)
Reductions related to lapsing statute of limitations (3) (2) (2)
Balance at end of period $ 2,683 $ 2,488 $ 2,579
v3.22.2.2
Legal Matters - Legal Matters - Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period $ 983 $ 914
Balance at end of period 1,456 983
Uncovered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 6 4
Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 885 125
Payments on legal matters (418) (60)
U.S. Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 881 888
Provision for legal matters 861  
Payments on legal matters (301) (7)
Balance at end of period 1,441 881
VE Territory Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 102 21
Provision for legal matters 24 125
Payments on legal matters (115) (44)
Balance at end of period $ 11 $ 102
v3.22.2.2
Legal Matters - Additional Information (Detail)
$ in Millions
 1 Months Ended 2 Months Ended 5 Months Ended 12 Months Ended 113 Months Ended 115 Months Ended
May 29, 2020
state
Dec. 13, 2019
USD ($)
Sep. 17, 2018
USD ($)
Jun. 30, 2016
litigation_case
Oct. 31, 2011
financial_institution
atm_operator
Jun. 16, 2021
state
Mar. 31, 2017
merchant
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2012
USD ($)
Nov. 16, 2022
merchant
Nov. 16, 2022
case_filed
merchant
Sep. 30, 2020
USD ($)
Loss Contingencies [Line Items]                          
Deposits into the litigation escrow account               $ 850 $ 0        
Loss contingency accrual               1,456 983       $ 914
Number of states | state 24         25              
Visa, MasterCard, and Certain U.S. Financial Institutions                          
Loss Contingencies [Line Items]                          
Loss contingency accrual     $ 5,300                    
Possible return to defendants   $ 700                      
U.S. Covered Litigation                          
Loss Contingencies [Line Items]                          
Provision for legal matters               861          
Deposits into the litigation escrow account               850          
Period of accrual     5 years                    
Company's share of an additional settlement payment               301 7        
Loss contingency accrual               1,441 881       $ 888
Possible return to defendants   $ 467                      
U.S. Covered Litigation | Settled Litigation                          
Loss Contingencies [Line Items]                          
Company's share of an additional settlement payment     $ 600                    
Class Plaintiffs                          
Loss Contingencies [Line Items]                          
Payments for legal settlements                   $ 4,000      
Settlement, further distribution of default interchange                   $ 500      
Loss contingency, further distributions, default period                   8 months      
Loss contingency, number of cases appointed counsel | litigation_case       2                  
Interchange Multidistrict Litigation | Subsequent Event                          
Loss Contingencies [Line Items]                          
Settlement percentage                     58.00% 58.00%  
Interchange Multidistrict Litigation | U.S. Covered Litigation                          
Loss Contingencies [Line Items]                          
Provision for legal matters                   $ 1,100      
Interchange Multidistrict Litigation | U.S. Covered Litigation                          
Loss Contingencies [Line Items]                          
Provision for legal matters               $ 861 $ 0        
Interchange Multidistrict Litigation | U.S. Covered Litigation | Visa, MasterCard, and Certain U.S. Financial Institutions                          
Loss Contingencies [Line Items]                          
Provision for legal matters     $ 900                    
Interchange Opt Out Litigation | Subsequent Event                          
Loss Contingencies [Line Items]                          
Number of opt-out cases filed | case_filed                       50  
Europe Merchant Litigation                          
Loss Contingencies [Line Items]                          
Number of plaintiffs | merchant             1            
Europe Merchant Litigation | Subsequent Event                          
Loss Contingencies [Line Items]                          
Number of plaintiffs | merchant                     850    
Number of claims settled | merchant                     150    
Number of claims pending | merchant                     700 700  
Europe Merchant Litigation | Threatened Litigation | Subsequent Event                          
Loss Contingencies [Line Items]                          
Number of plaintiffs | merchant                     30    
National ATM Council Class Action                          
Loss Contingencies [Line Items]                          
Number of non-bank ATM operators | atm_operator         13                
Consumer Class Actions                          
Loss Contingencies [Line Items]                          
Number of claims pending | financial_institution         2                
Number of financial institutions | financial_institution         3