Stock Analysis on Net
Stock Analysis on Net

Visa Inc. (NYSE:V)

Adjustments to Financial Statements

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Adjustments to Total Assets

Visa Inc., adjusted total assets

US$ in millions

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Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
As Reported
Total assets 82,896  80,919  72,574  69,225  67,977  64,035 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  701  667  561  548 
Less: Net deferred tax assets (reflected in Other assets)2 80  63  24  14  81  22 
After Adjustment
Adjusted total assets 82,816  80,856  73,251  69,878  68,457  64,561 

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Net deferred tax assets (reflected in Other assets). See details »

Adjustments to Total Liabilities

Visa Inc., adjusted total liabilities

US$ in millions

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Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
As Reported
Total liabilities 45,307  44,709  37,890  35,219  35,217  31,123 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  701  667  561  548 
Less: Deferred tax liabilities2 6,128  5,237  4,807  4,618  5,980  4,808 
After Adjustment
Adjusted total liabilities 39,179  39,472  33,784  31,268  29,798  26,863 

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »

Adjustments to Stockholders’ Equity

Visa Inc., adjusted equity

US$ in millions

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Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
As Reported
Equity 37,589  36,210  34,684  34,006  32,760  32,912 
Adjustments
Less: Net deferred tax assets (liabilities)1 (6,048) (5,174) (4,783) (4,604) (5,899) (4,786)
After Adjustment
Adjusted equity 43,637  41,384  39,467  38,610  38,659  37,698 

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

1 Net deferred tax assets (liabilities). See details »

Adjustments to Capitalization Table

Visa Inc., adjusted capitalization table

US$ in millions

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Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
As Reported
Current maturities of debt 999  2,999  —  —  1,749  — 
Long-term debt, excluding current maturities 19,978  21,071  16,729  16,630  16,618  15,882 
Total reported debt 20,977  24,070  16,729  16,630  18,367  15,882 
Equity 37,589  36,210  34,684  34,006  32,760  32,912 
Total reported capital 58,566  60,280  51,413  50,636  51,127  48,794 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  701  667  561  548 
Add: Current portion of operating lease liabilities (included in Accrued liabilities)2 103  97  —  —  —  — 
Add: Long-term portion of operating lease liabilities (included in Other liabilities)3 471  473  —  —  —  — 
Adjusted total debt 21,551  24,640  17,430  17,297  18,928  16,430 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 (6,048) (5,174) (4,783) (4,604) (5,899) (4,786)
Adjusted equity 43,637  41,384  39,467  38,610  38,659  37,698 
After Adjustment
Adjusted total capital 65,188  66,024  56,897  55,907  57,587  54,128 

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current portion of operating lease liabilities (included in Accrued liabilities). See details »

3 Long-term portion of operating lease liabilities (included in Other liabilities). See details »

4 Net deferred tax assets (liabilities). See details »

Adjustments to Reported Income

Visa Inc., adjusted net income

US$ in millions

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12 months ended: Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
As Reported
Net income 12,311  10,866  12,080  10,301  6,699  5,991 
Adjustments
Add: Deferred income tax expense (benefit)1 871  307  214  (1,287) 1,698  (778)
Add: Other comprehensive income (loss), net of tax 82  1,029  (1,204) (331) 1,336  (384)
After Adjustment
Adjusted net income 13,264  12,202  11,090  8,683  9,733  4,829 

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

1 Deferred income tax expense (benefit). See details »