Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Visa Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016
Accounts payable	280)	258)	340)	228)	182)	252)	266)	172)	126)	131)	174)	153)	161)	133)	156)	150)	119)	124)	183)	145)	136)	108)	179)	130)	120)	118)
Settlement payable	3,069)	3,573)	3,281)	3,068)	2,409)	2,774)	2,443)	2,376)	2,000)	2,048)	1,736)	2,725)	1,869)	4,277)	3,990)	2,420)	2,081)	3,890)	2,168)	2,310)	3,052)	2,302)	2,003)	2,075)	2,879)	2,059)
Customer collateral	2,739)	2,591)	2,342)	2,261)	2,309)	2,284)	2,260)	2,221)	2,057)	1,993)	1,850)	1,759)	1,698)	1,698)	1,648)	1,668)	1,735)	1,330)	1,325)	1,346)	1,250)	1,155)	1,106)	1,075)	1,043)	1,006)
Accrued compensation and benefits	998)	736)	1,359)	1,106)	877)	725)	1,211)	1,044)	794)	600)	821)	703)	573)	527)	796)	687)	578)	440)	901)	729)	530)	389)	757)	638)	500)	433)
Client incentives	6,783)	6,553)	6,099)	5,608)	5,436)	5,294)	5,243)	5,114)	4,760)	4,479)	4,176)	4,208)	4,376)	4,270)	3,997)	3,690)	3,484)	3,345)	2,834)	2,577)	2,512)	2,355)	2,089)	1,909)	1,753)	1,872)
Accrued liabilities	3,626)	3,940)	3,726)	3,303)	3,172)	2,965)	2,334)	2,196)	2,088)	2,230)	1,840)	2,397)	1,998)	2,045)	1,625)	1,358)	1,207)	1,487)	1,160)	1,099)	1,241)	1,224)	1,129)	940)	1,167)	1,546)
Deferred purchase consideration	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,262)	1,284)	1,300)	1,300)	—)	—)	—)	—)	—)	—)
Current maturities of debt	—)	—)	2,250)	3,249)	3,548)	3,247)	999)	—)	—)	—)	2,999)	2,999)	3,999)	3,000)	—)	—)	—)	—)	—)	—)	—)	—)	1,749)	1,749)	1,748)	2,313)
Accrued litigation	1,602)	1,702)	1,456)	1,486)	769)	1,027)	983)	900)	886)	909)	914)	1,156)	1,268)	1,629)	1,203)	856)	914)	1,489)	1,434)	1,428)	830)	830)	982)	995)	996)	994)
Current liabilities	19,097)	19,353)	20,853)	20,309)	18,702)	18,568)	15,739)	14,023)	12,711)	12,390)	14,510)	16,100)	15,942)	17,579)	13,415)	10,829)	11,380)	13,389)	11,305)	10,934)	9,551)	8,363)	9,994)	9,511)	10,206)	10,341)
Long-term debt, excluding current maturities	20,606)	20,487)	20,200)	20,546)	17,479)	17,673)	19,978)	20,996)	20,974)	21,055)	21,071)	17,880)	13,893)	13,688)	16,729)	16,694)	16,630)	16,633)	16,630)	16,627)	16,624)	16,621)	16,618)	14,142)	14,140)	14,138)
Deferred tax liabilities	5,462)	5,443)	5,332)	5,685)	6,081)	6,078)	6,128)	6,240)	5,212)	5,343)	5,237)	4,728)	4,796)	4,810)	4,807)	4,930)	4,911)	4,835)	4,618)	4,802)	5,110)	5,107)	5,980)	5,888)	5,731)	4,822)
Deferred purchase consideration	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,367)	1,330)	1,304)	1,258)	1,180)	1,164)
Other liabilities	3,025)	3,180)	3,535)	3,387)	3,557)	3,416)	3,462)	3,622)	3,602)	3,959)	3,891)	3,652)	3,604)	3,434)	2,939)	2,801)	2,669)	2,703)	2,666)	2,494)	2,287)	2,332)	1,321)	1,257)	1,187)	1,179)
Non-current liabilities	29,093)	29,110)	29,067)	29,618)	27,117)	27,167)	29,568)	30,858)	29,788)	30,357)	30,199)	26,260)	22,293)	21,932)	24,475)	24,425)	24,210)	24,171)	23,914)	23,923)	25,388)	25,390)	25,223)	22,545)	22,238)	21,303)
Total liabilities	48,190)	48,463)	49,920)	49,927)	45,819)	45,735)	45,307)	44,881)	42,499)	42,747)	44,709)	42,360)	38,235)	39,511)	37,890)	35,254)	35,590)	37,560)	35,219)	34,857)	34,939)	33,753)	35,217)	32,056)	32,444)	31,644)
Series A, Series B and Series C convertible participating preferred stock (preferred stock), $0.0001 par value	1,885)	1,981)	2,324)	2,851)	2,987)	2,995)	3,080)	3,132)	3,347)	3,683)	5,086)	5,298)	5,462)	5,462)	5,462)	5,462)	5,464)	5,464)	5,470)	5,470)	5,476)	5,476)	5,526)	5,526)	5,597)	5,717)
Class A, Class B and Class C common stock and additional paid-in capital, $0.0001 par value	20,095)	19,827)	19,545)	18,962)	18,876)	18,776)	18,855)	18,787)	18,505)	18,063)	16,721)	16,457)	16,385)	16,424)	16,541)	16,552)	16,547)	16,540)	16,678)	16,686)	16,713)	16,761)	16,900)	17,009)	17,103)	17,184)
Treasury stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(170)
Right to recover for covered losses	(35)	(28)	(35)	(23)	(120)	(111)	(133)	(24)	(41)	(34)	(39)	(24)	(184)	(175)	(171)	(169)	(163)	(92)	(7)	(5)	(6)	(5)	(52)	(8)	(77)	(128)
Accumulated income	17,610)	16,403)	16,116)	14,960)	14,651)	14,606)	15,351)	15,294)	15,513)	14,813)	14,088)	14,072)	13,366)	13,899)	13,502)	13,040)	12,513)	11,908)	11,318)	10,426)	10,192)	9,966)	9,508)	9,299)	9,140)	10,492)
Investment securities	(66)	(94)	(106)	(74)	(41)	(9)	(1)	(1)	1)	2)	3)	4)	6)	4)	6)	6)	1)	(4)	(17)	110)	93)	61)	73)	58)	45)	32)
Defined benefit pension and other postretirement plans	(161)	(167)	(169)	(48)	(48)	(47)	(49)	(187)	(192)	(194)	(196)	(192)	(199)	(203)	(192)	(66)	(67)	(67)	(61)	(74)	(77)	(76)	(76)	(207)	(216)	(221)
Derivative instruments	(268)	(213)	418)	135)	(136)	(171)	(257)	(371)	(310)	(538)	(291)	(39)	78)	49)	199)	24)	96)	68)	60)	54)	(51)	(33)	(36)	(15)	(6)	27)
Foreign currency translation adjustments	(495)	(785)	(2,512)	(1,280)	(180)	155)	743)	1,160)	873)	1,884)	838)	(52)	(329)	(190)	(663)	146)	(116)	278)	565)	651)	1,763)	1,251)	917)	282)	(803)	(1,207)
Accumulated other comprehensive income (loss), net	(990)	(1,259)	(2,369)	(1,267)	(405)	(72)	436)	601)	372)	1,154)	354)	(279)	(444)	(340)	(650)	110)	(86)	275)	547)	741)	1,728)	1,203)	878)	118)	(980)	(1,369)
Equity	38,565)	36,924)	35,581)	35,483)	35,989)	36,194)	37,589)	37,790)	37,696)	37,679)	36,210)	35,524)	34,585)	35,270)	34,684)	34,995)	34,275)	34,095)	34,006)	33,318)	34,103)	33,401)	32,760)	31,944)	30,783)	31,726)
Total liabilities and equity	86,755)	85,387)	85,501)	85,410)	81,808)	81,929)	82,896)	82,671)	80,195)	80,426)	80,919)	77,884)	72,820)	74,781)	72,574)	70,249)	69,865)	71,655)	69,225)	68,175)	69,042)	67,154)	67,977)	64,000)	63,227)	63,370)

Accounts payable: The accounts payable values exhibit considerable fluctuations over the periods analyzed, ranging from a low of 108 million USD at the end of 2017 to highs above 260 million USD in late 2021 and early 2022. This suggests variable short-term obligations with peaks notably in year-end quarters of 2021 and 2022.
Settlement payable: The settlement payable balances show marked volatility, with sharp increases especially during late 2018 and through 2019, reaching peaks above 4,000 million USD. Despite some declines afterward, the values remain elevated, above 3,000 million USD by early 2023, reflecting sustained high levels of payment obligations.
Customer collateral: Customer collateral has generally trended upward consistently, increasing from about 1,000 million USD in 2016 to nearly 2,740 million USD in early 2023, indicating growing customer-related security holdings or deposits over the period.
Accrued compensation and benefits: This item shows a generally upward trend with noticeable spikes in some quarters, peaking at over 1,200 million USD in late 2021. The trend suggests increasing employee-related liabilities, possibly tied to compensation accruals and benefits obligations.
Client incentives: Client incentives have steadily increased over time, from approximately 1,870 million USD in late 2016 to over 6,700 million USD by early 2023. The growth appears smooth with minor fluctuations, indicating a strategic emphasis on customer rewards and retention.
Accrued liabilities: Accrued liabilities have generally increased over the analyzed period, rising from around 1,500 million USD in 2016 to nearly 4,000 million USD by the end of 2022. The growth trend contains some volatility but reflects rising pending obligations.
Deferred purchase consideration: There are two separate entries with this name: One with values appearing mainly in 2017 and mid-2018 around 1,300 million USD, and another showing values in 2016 peaking moderately. The presence of this item in limited periods suggests it relates to specific acquisitions or purchase commitments during those times.
Current maturities of debt: Current maturities of debt show a decline from a high above 3,000 million USD in 2016 and 2017, disappearing in some middle periods, before rising again around 3,000 to 4,000 million USD between 2019 and 2020 and showing mixed values towards 2022, indicating restructuring or refinancing activity.
Accrued litigation: Accrued litigation amounts fluctuate, with a general declining tendency from near 1,000 million USD in 2016 to lower levels around 700-900 million USD thereafter, though sporadic peaks occur, notably around 1,700 million USD in late 2022. This variability may reflect changing legal exposure or settlements.
Current liabilities: Current liabilities have trended upward overall, increasing from approximately 10,000 million USD in 2016 to over 20,000 million USD by late 2022. Periodic fluctuations occur, but the general trend indicates growth in short-term obligations.
Long-term debt, excluding current maturities: Long-term debt remained relatively stable around 16,600 million USD from 2016 until 2019, followed by a rise exceeding 21,000 million USD between 2020 and early 2021. Subsequently, it decreased again below 18,000 million USD by early 2022, before increasing near 20,600 million USD in early 2023, indicating significant debt management or refinancing activities.
Deferred tax liabilities: Deferred tax liabilities show overall stability in the range of approximately 4,800 to 6,200 million USD throughout the entire period, signaling consistent tax-related deferred obligations without major volatility.
Other liabilities: Other liabilities increased from about 1,200 million USD in 2016 to a peak near 3,900 million USD in 2020, followed by some decrease to around 3,000 million USD by early 2023. This suggests accumulation and partial reduction of miscellaneous liabilities.
Non-current liabilities: These liabilities increased from approximately 21,300 million USD in 2016 to peaks above 30,000 million USD around 2020 and 2021, then declined back to around 29,000 million USD by early 2023, reflecting fluctuations in long-term obligations.
Total liabilities: Total liabilities rose from approximately 31,600 million USD in 2016 to a high near 45,800 million USD around 2021, then slightly decreased to about 48,000 million USD by 2023, evidencing a long-term increase with some recent stabilization.
Preferred stock: Convertible preferred stock decreased steadily from about 5,700 million USD in 2016 to under 2,000 million USD by early 2023, indicating gradual retirement or conversion of these shares over time.
Common stock and additional paid-in capital: This equity portion remained relatively stable around 16,000 to 20,000 million USD, showing a moderate increase particularly after 2020, suggesting equity issuance or retained earnings contributing to capital base stability.
Treasury stock: Notable only in late 2016 with a negative balance of 170 million USD, no further values are reported, implying limited changes in treasury stock during the remainder of the period.
Right to recover for covered losses: This item fluctuates with generally small negative amounts punctuated by occasional more pronounced reductions, reflecting a variable asset/liability related to recoverable losses.
Accumulated income: Accumulated income shows a consistent upward trend from around 10,500 million USD in 2016 to over 17,600 million USD by early 2023, suggesting steady retained earnings growth.
Investment securities: The investment securities values vary around zero with minor positive and negative fluctuations, suggesting a relatively small and stable investment portfolio with occasional valuation adjustments.
Defined benefit pension and other postretirement plans: These liabilities remain negative and fairly stable, around -200 million USD, with some variability, pointing to ongoing but managed pension/postretirement plan obligations.
Derivative instruments: Derivative instrument values display significant volatility with positive and negative swings, indicating varying hedging or trading positions over the periods examined.
Foreign currency translation adjustments: Translation adjustments are highly variable, with positive values peaking over 1,800 million USD in 2021 and sharp negative swings reaching nearly -2,500 million USD in 2022, reflecting currency exposure impacts over the timeframe.
Accumulated other comprehensive income (loss), net: This item follows the trend of currency translation adjustments and derivatives, fluctuating considerably between positive and negative values. It reached a positive peak above 1,100 million USD in 2021, and a negative low near -2,300 million USD in 2022, indicating sensitivity to market and currency fluctuations.
Equity: Total equity increased from approximately 31,700 million USD in 2016 to about 38,500 million USD in early 2023, showing overall growth with some fluctuations, consistent with the accumulated income and capital changes.
Total liabilities and equity: The combined total of liabilities and equity grew from around 63,300 million USD in 2016 to approximately 86,700 million USD in early 2023, demonstrating expansion in the company's financial base over the period.

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Visa Inc. (NYSE:V)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data