Visa (V) 10-Q 2 Feb 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Jan. 27, 2017
Entity Registrant Name	VISA INC.
Entity Central Index Key	1,403,161
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Entity Common Stock, Shares Outstanding		1,858,020,846
Class B common stock
Entity Common Stock, Shares Outstanding		245,513,385
Class C common stock
Entity Common Stock, Shares Outstanding		14,504,893

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016		Sep. 30, 2016
Assets
Cash and cash equivalents	$ 5,824		$ 5,619
Restricted cash—U.S. litigation escrow (Note 3)	1,028		1,027
Investment securities (Note 4):
Trading	82		71
Available-for-sale	3,615		3,248
Settlement receivable	1,333		1,467
Accounts receivable	1,120		1,041
Customer collateral (Note 6)	1,006		1,001
Current portion of client incentives	265		284
Prepaid expenses and other current assets	416		555
Total current assets	14,689		14,313
Investment securities, available-for-sale (Note 4)	3,802		3,931
Client incentives	484		448
Property, equipment and technology, net	2,201		2,150
Other assets	921		893
Intangible assets, net (Note 2)	26,381		27,234
Goodwill (Note 2)	14,892		15,066
Total assets	63,370		64,035
Liabilities
Accounts payable	118		203
Settlement payable	2,059		2,084
Customer collateral (Note 6)	1,006		1,001
Accrued compensation and benefits	433		673
Client incentives	1,872		1,976
Accrued liabilities	1,546		1,128
Current maturities of long-term debt and short-term debt (Note 5)	2,313		0
Accrued litigation (Note 12)	994		981
Total current liabilities	10,341		8,046
Long-term debt (Note 5)	14,138		15,882
Deferred tax liabilities	4,822		4,808
Deferred purchase consideration (Note 2)	1,164		1,225
Other liabilities	1,179		1,162
Total liabilities	31,644		31,123
Equity
Treasury stock	(170)		(170)
Right to recover for covered losses (Note 3)	(128)	[1],[2]	(34)
Additional paid-in capital	17,184		17,395
Accumulated income	10,492		10,462
Accumulated other comprehensive loss, net:
Investment securities, available-for-sale	32		36
Defined benefit pension and other postretirement plans	(221)		(225)
Derivative instruments classified as cash flow hedges	27		(50)
Foreign currency translation adjustments	(1,207)		(219)
Total accumulated other comprehensive loss, net	(1,369)		(458)
Total equity	31,726		32,912
Total liabilities and equity	63,370		64,035
Series A Preferred Stock
Equity
Preferred stock	0		0
Series B Preferred Stock
Equity
Preferred stock	2,516		2,516
Series C Preferred Stock
Equity
Preferred stock	3,201		3,201
Class A common stock
Equity
Common stock	0		0
Class B common stock
Equity
Common stock	0		0
Class C common stock
Equity
Common stock	$ 0		$ 0
[1]	Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
[2]	The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the U.K.&I and Europe preferred stock outstanding, respectively, as of December 31, 2016; (b) the 13.952 class A common stock conversion rate applicable to both the U.K.&I and Europe preferred stock as of December 31, 2016; and (c) $78.02, Visa's class A common stock closing stock price as of December 31, 2016.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Dec. 31, 2016		Sep. 30, 2016
Preferred Stock
Preferred stock, par value	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25		25
Preferred stock, shares issued	5		5
Preferred stock, shares outstanding	5		5
Series A Preferred Stock
Preferred stock, par value	$ 0.0001
Preferred stock, shares issued	0		0
Series B Preferred Stock
Preferred stock, par value	$ 0.0001
Preferred stock, shares issued	2		2
Preferred stock, shares outstanding	2		2
Series C Preferred Stock
Preferred stock, par value	$ 0.0001
Preferred stock, shares issued	3		3
Preferred stock, shares outstanding	3		3
Class A common stock
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares authorized	2,001,622		2,001,622
Common stock, shares issued	1,854		1,871
Common stock, shares outstanding	1,854	[1]	1,871
Class B common stock
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares authorized	622		622
Common stock, shares issued	245		245
Common stock, shares outstanding	245		245
Class C common stock
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares authorized	1,097		1,097
Common stock, shares issued	16		17
Common stock, shares outstanding	16		17
[1]	Class A common stock shares outstanding exclude repurchases traded but not yet settled on or before December 31, 2016.

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Operating Revenues
Service revenues		$ 1,918	$ 1,645
Data processing revenues		1,892	1,479
International transaction revenues		1,489	1,031
Other revenues		203	198
Client incentives		(1,041)	(788)
Net operating revenues		4,461	3,565
Operating Expenses
Personnel		571	499
Marketing		218	194
Network and processing		145	128
Professional fees		80	72
Depreciation and amortization		146	120
General and administrative		186	156
Litigation provision (Note 12)		15	0
Total operating expenses		1,361	1,169
Operating income		3,100	2,396
Non-operating (Expense) Income
Interest expense		(140)	(29)
Other		19	272
Non-operating (expense) income		(121)	243
Income before income taxes		2,979	2,639
Income tax provision (Note 11)		909	698
Net income		$ 2,070	$ 1,941
Class A common stock
Earnings Per Share
Basic earnings per share (Note 9) (in dollars per share)	[1]	$ 0.86	$ 0.80
Basic weighted-average shares outstanding (Note 9) (in shares)		1,860	1,937
Diluted earnings per share (Note 9) (in dollars per share)	[1]	$ 0.86	$ 0.80
Diluted weighted-average shares outstanding (Note 9) (in shares)	[2]	2,421	2,430
Class B common stock
Earnings Per Share
Basic earnings per share (Note 9) (in dollars per share)	[1]	$ 1.41	$ 1.32
Basic weighted-average shares outstanding (Note 9) (in shares)		245	245
Diluted earnings per share (Note 9) (in dollars per share)	[1]	$ 1.41	$ 1.32
Diluted weighted-average shares outstanding (Note 9) (in shares)		245	245
Class C common stock
Earnings Per Share
Basic earnings per share (Note 9) (in dollars per share)	[1]	$ 3.43	$ 3.20
Basic weighted-average shares outstanding (Note 9) (in shares)		17	20
Diluted earnings per share (Note 9) (in dollars per share)	[1]	$ 3.42	$ 3.20
Diluted weighted-average shares outstanding (Note 9) (in shares)		17	20
[1]	Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
[2]	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 computation includes approximately 5 million common stock equivalents for the three months ended December 31, 2016 and 2015 because their effect would be dilutive. The computation excludes 3 million and 1 million of common stock equivalents for the three months ended December 31, 2016 and 2015, respectively, because their effect would have been anti-dilutive.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 2,070	$ 1,941
Investment securities, available-for-sale:
Net unrealized (loss) gain	(3)	34
Income tax effect	(1)	(16)
Defined benefit pension and other postretirement plans:
Net unrealized actuarial gain and prior service credit	0	56
Income tax effect	0	(21)
Amortization of actuarial loss and prior service credit realized in net income	6	(7)
Income tax effect	(2)	2
Derivative instruments classified as cash flow hedges:
Net unrealized gain	74	16
Income tax effect	(7)	(5)
Reclassification adjustment for net loss (gain) realized in net income	12	(48)
Income tax effect	(2)	14
Foreign currency translation adjustments	(988)	0
Other comprehensive (loss) income, net of tax	(911)	25
Comprehensive income	$ 1,159	$ 1,966

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating Activities
Net income	$ 2,070	$ 1,941
Adjustments to reconcile net income to net cash provided by operating activities:
Client incentives	1,041	788
Fair value adjustment for the Visa Europe put option	0	(255)
Share-based compensation (Note 10)	45	39
Excess tax benefit for share-based compensation	0	(36)
Depreciation and amortization of property, equipment, technology and intangible assets	146	120
Deferred income taxes	77	45
Right to recover for covered losses recorded in equity	(94)	0
Litigation provision	15	0
Other	13	5
Change in operating assets and liabilities:
Settlement receivable	56	(35)
Accounts receivable	(89)	(75)
Client incentives	(1,129)	(850)
Other assets	66	23
Accounts payable	(102)
Settlement payable	79	(36)
Accrued and other liabilities	316	317
Accrued litigation (Note 12)	13	(12)
Net cash provided by operating activities	2,508	1,979
Investing Activities
Purchases of property, equipment, technology and intangible assets	(171)	(126)
Investment securities, available-for-sale:
Purchases	(1,032)	(6,803)
Proceeds from maturities and sales	788	739
Purchases of / contributions to other investments	(2)	(8)
Proceeds / distributions from other investments	0	4
Net cash used in investing activities	(417)	(6,194)
Financing Activities
Dividends paid (Note 8)	(399)	(340)
Proceeds from issuance of senior notes (Note 5)	0	15,971
Debt issuance costs (Note 5)	0	(77)
Proceeds from issuance of commercial paper (Note 5)	566	0
Payments from litigation escrow account—U.S. retrospective responsibility plan (Note 3 and Note 12)	0	11
Cash proceeds from issuance of common stock under employee equity plans	56	29
Restricted stock and performance-based shares settled in cash for taxes	(60)	(81)
Excess tax benefit for share-based compensation	0	36
Net cash (used in) provided by financing activities	(1,730)	13,534
Effect of exchange rate changes on cash and cash equivalents	(156)	0
Increase in cash and cash equivalents	205	9,319
Cash and cash equivalents at beginning of year	5,619	3,518
Cash and cash equivalents at end of period	5,824	12,837
Supplemental Disclosure
Income taxes paid, net of refunds	96	79
Interest payments on debt (Note 5)	244	0
Accruals related to purchases of property, equipment, technology and intangible assets	69	40
Class A common stock
Financing Activities
Repurchase of class A common stock (Note 8)	$ (1,893)	$ (2,015)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2016
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 connects consumers, merchants, financial institutions, businesses, strategic partners and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. Visa and its wholly-owned consolidated subsidiaries, including Visa U.S.A. Inc. ("Visa U.S.A."), Visa International Service Association ("Visa International"), Visa Worldwide Pte. Limited, Visa Europe Limited ("Visa Europe"), Visa Canada Corporation, Inovant LLC and CyberSource Corporation ("CyberSource"), operate one of the world’s largest retail electronic payments networks — VisaNet — which facilitates authorization, clearing and settlement of payment transactions and enables us to provide our financial institution and merchant clients a wide range of products, platforms and value-added services. VisaNet also offers fraud protection for account holders and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for account holders on 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 accompanying unaudited 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. The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission ("SEC") requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by U.S. GAAP. Reference should be made to the Visa Annual Report on Form 10-K for the year ended September 30, 2016 for additional disclosures, including a summary of the Company’s significant accounting policies. In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the interim periods presented. Recently Issued and Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of goods or services to customers. The ASU will replace existing revenue recognition guidance in U.S. GAAP when it becomes effective. Subsequently, the FASB also issued a series of amendments to the new revenue standard. The Company will adopt the standard effective October 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method and is evaluating the full effect that ASU 2014-09 and all of its related subsequent updates will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for share-based payments, including the accounting for excess tax benefits and deficiencies, forfeitures, and statutory tax withholding requirements, as well as classification on the statement of cash flows related to excess tax benefits and employee taxes paid when an employer withholds shares for tax-withholding purposes. The Company elected to early adopt this guidance effective October 1, 2016. The adoption had the following impact on the consolidated financial statements: • The Company recorded excess tax benefits of $26 million in our provision for income taxes rather than as an increase to additional paid-in capital for the three months ended December 31, 2016 on a prospective basis. Therefore, the prior period presented has not been adjusted. • The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of diluted earnings per share for the quarter ended December 31, 2016, which increased diluted weighted average common shares outstanding by 1 million , which did not have a material impact on our diluted earnings per share. • The Company elected to apply the presentation requirement for cash flows related to excess tax benefits prospectively, and thus, the prior period presented has not been adjusted. This adoption resulted in an increase to both net cash provided by operating activities and net cash used in financing of $26 million for the three months ended December 31, 2016. In October 2016, the FASB issued ASU 2016-16, which requires that entities recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The Company is evaluating the effect that ASU 2016-16 will have on its consolidated financial statements and is considering early adoption of the standard. In November 2016, the FASB issued ASU 2016-18, which requires that a statement of cash flows should include the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents when reconciling the beginning-of-period and end-of-period total amounts. The Company is evaluating the effect that ASU 2016-18 will have on its consolidated financial statements and is considering early adoption of the standard. In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 from the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company will adopt the standard effective October 1, 2020. The adoption is not expected to have a material impact on the consolidated financial statements.

Visa Europe

Visa Europe	3 Months Ended
	Dec. 31, 2016
European Activities [Abstract]
Visa Europe	Note 2—Visa Europe On June 21, 2016, the Company acquired 100% of the share capital of Visa Europe, a payments technology business. The acquisition positions Visa to create additional value through increased scale, efficiencies realized by the integration of both businesses, and benefits related to Visa Europe's transition from an association to a for-profit enterprise. At the closing of the transaction (the "Closing"), the Company: • paid up-front cash consideration of € 12.2 billion ( $13.9 billion ); • issued preferred stock of the Company convertible upon certain conditions into approximately 79 million shares of class A common stock of the Company, as described below, equivalent to a value of € 5.3 billion ( $6.1 billion ) at the closing stock price of $77.33 on June 21, 2016; and • agreed to pay an additional € 1.0 billion , plus 4% compound annual interest, on the third anniversary of the Closing. Preferred stock . In connection with the transaction, three new series of preferred stock of the Company were created: • series A convertible participating preferred stock, par value $0.0001 per share, which is generally designed to be economically equivalent to the Company’s class A common stock (the “class A equivalent preferred stock”); • series B convertible participating preferred stock, par value $0.0001 per share (the “U.K.&I preferred stock”); and • series C convertible participating preferred stock, par value $0.0001 per share (the “Europe preferred stock”). The Company issued 2,480,466 shares of U.K.&I preferred stock to Visa Europe’s member financial institutions in the United Kingdom and Ireland entitled to receive preferred stock at the Closing, and 3,156,823 shares of Europe preferred stock to Visa Europe’s other member financial institutions entitled to receive preferred stock at the Closing. Under certain conditions described below, the U.K.&I and Europe preferred stock is convertible into shares of class A common stock or class A equivalent preferred stock, at an initial conversion rate of 13.952 shares of class A common stock for each share of U.K.&I preferred stock and Europe preferred stock. The conversion rates may be reduced from time to time to offset certain liabilities, 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 of multilateral interchange fee rates in the Visa Europe territory, where, generally, the relevant claims (and resultant liabilities and losses) relate to the period before the Closing. See Note 3—U.S. and Europe Retrospective Responsibility Plans . Actual and pro forma impact of acquisition. The following table presents unaudited supplemental pro forma information for the three months ended December 31, 2015, as if the acquisition and related issuance of senior notes had occurred on October 1, 2014. The pro forma financial information is not necessarily indicative of the Company's consolidated results of operations that would have been realized had the acquisition been completed on October 1, 2014, nor does it purport to project the future results of operations of the combined company or reflect any reorganizations, or cost or other operating synergies that may occur subsequent to the Closing. The actual results of operations of the combined company may differ significantly from the pro forma results presented here due to many factors. Consolidated Actual Results Unaudited Pro Forma Consolidated Results Three Months Ended December 31, 2016 2015 (in millions, except per share data) Net operating revenues $ 4,461 $ 3,964 Net income $ 2,070 $ 1,776 Diluted earnings per share $ 0.86 $ 0.71 The unaudited pro forma financial information for the three months ended December 31, 2015 reflects the following material pro forma adjustments: • conversion of Visa Europe's historical results of operations from euro to U.S. dollar, and from International Financial Reporting Standards to U.S. GAAP; • elimination of transactions between Visa and Visa Europe upon consolidation, primarily related to annual license and various other fees paid by Visa Europe to Visa in accordance with the Framework Agreement; • an increase in non-operating expense for the three months ended December 31, 2015 for additional interest expense and amortization of debt issuance costs resulting from the issuance of the $16.0 billion senior notes; • exclusion of a $255 million gain related to the revaluation of the Visa Europe put option (1) ; and • elimination of acquisition-related costs incurred by Visa Europe. (1) For purposes of preparing this pro forma financial information, the fair value of the Visa Europe put option is presumed to have been reduced to zero prior to October 1, 2014. Therefore, the Company did not include any gains associated with a write-down in the fair value of the Visa Europe put option liability in the unaudited pro forma net income for the three months ended December 31, 2015. The pro forma results also reflect the applicable tax impact of the pro forma adjustments. The taxes associated with the adjustments reflect the statutory tax rate in effect during the respective periods. Goodwill and intangible assets. Upon the Closing, the Company recorded goodwill and indefinite-lived intangible assets as a result of the acquisition. The decrease in goodwill and intangible assets at December 31, 2016 from September 30, 2016 is primarily due to foreign currency translation, which is recorded as a component of accumulated other comprehensive loss in the consolidated balance sheet.

U.S. and Europe Retrospective R

U.S. and Europe Retrospective Responsibility Plans	3 Months Ended
	Dec. 31, 2016
Retrospective Responsibility Plan [Abstract]
U.S. and Europe Retrospective Responsibility Plans	Note 3—U.S. and Europe Retrospective Responsibility Plans U.S. Retrospective Responsibility Plan Under the terms of the U.S. retrospective responsibility plan, the Company maintains an escrow account from which settlements of, or judgments in, the U.S. covered litigation are paid. The escrow funds are held in money market investments along with interest income earned, less applicable taxes, and are classified as restricted cash on the consolidated balance sheets. The balance of the escrow account was $1.0 billion at December 31, 2016 and September 30, 2016. The Company did not make any payments to opt-out merchants from the litigation escrow account during the three months ended December 31, 2016 . See Note 12—Legal Matters . The accrual related to the covered litigation could be either higher or lower than the litigation escrow account balance. The Company did not record an additional accrual for the covered litigation during the three months ended December 31, 2016 . See Note 12—Legal Matters . Europe Retrospective Responsibility Plan Under the terms of the Europe retrospective responsibility plan, 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 U.K.&I. and Europe preferred stock. VE territory covered losses may be recorded in "right to recover for covered losses" within equity 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 will then be recorded against the book value of the preferred stock within stockholders' equity. As of December 31, 2016, the Company had recorded $128 million in the "right to recover for covered losses" related to VE territory covered losses compared to $34 million at September 30, 2016 as a result of additional losses incurred, including settlements with several merchants and additional legal costs. See Note 12—Legal Matters . There were no adjustments to the conversion rates in the three months ended December 31, 2016. The following table sets forth the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred shares recorded in stockholders' equity within the Company's unaudited consolidated balance sheet as of December 31, 2016. (1) December 31, 2016 As-Converted Value of Preferred Stock (2) Book Value of Preferred Stock (in millions) U.K.&I preferred stock $ 2,700 $ 2,516 Europe preferred stock 3,436 3,201 Total $ 6,136 $ 5,717 Less: Right to recover for covered losses (128 ) (128 ) Total recovery for covered losses available $ 6,008 $ 5,589 (1) Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers. (2) The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the U.K.&I and Europe preferred stock outstanding, respectively, as of December 31, 2016; (b) the 13.952 class A common stock conversion rate applicable to both the U.K.&I and Europe preferred stock as of December 31, 2016; and (c) $78.02 , Visa's class A common stock closing stock price as of December 31, 2016.

Fair Value Measurements and Inv

Fair Value Measurements and Investments	3 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements and Investments	Note 4—Fair Value Measurements and Investments Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair Value Measurements Using Inputs Considered as Level 1 Level 2 December 31, September 30, December 31, September 30, (in millions) Assets Cash equivalents and restricted cash: Money market funds $ 4,819 $ 4,537 U.S. government-sponsored debt securities $ — $ 196 Investment securities, trading: Equity securities 82 71 Investment securities, available-for-sale: U.S. government-sponsored debt securities 4,671 4,699 U.S. Treasury securities 2,554 2,178 Equity securities 62 53 Corporate debt securities 130 249 Prepaid and other current assets: Foreign exchange derivative instruments 88 50 Other assets: Foreign exchange derivative instruments 2 6 Total $ 7,517 $ 6,839 $ 4,891 $ 5,200 Liabilities Accrued liabilities: Foreign exchange derivative instruments $ 76 $ 116 Other liabilities: Foreign exchange derivative instruments 8 20 Total $ — $ — $ 84 $ 136 There were no transfers between Level 1 and Level 2 assets during the three months ended December 31, 2016 . Level 1 assets measured at fair value on a recurring basis. Money market funds, publicly-traded equity securities and U.S. Treasury securities are classified as Level 1 within the fair value hierarchy, as fair value is based on quoted prices in active markets. Level 2 assets and liabilities measured at fair value on a recurring basis. The fair value of U.S. government-sponsored debt securities and corporate debt securities, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. The pricing data obtained from outside sources is reviewed internally for reasonableness, compared against benchmark quotes from independent pricing sources, then confirmed or revised accordingly. Foreign exchange derivative instruments are valued using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. There were no substantive changes to the valuation techniques and related inputs used to measure fair value during the three months ended December 31, 2016 . Assets Measured at Fair Value on a Non-recurring Basis Non-marketable equity investments and investments accounted for under the equity method . 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. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. There were no significant impairments during the three months ended December 31, 2016 or 2015 . These investments totaled $48 million and $46 million at December 31, 2016 and September 30, 2016 , respectively, and are classified in other assets on the consolidated balance sheets. Non-financial assets and liabilities. Long-lived assets such as goodwill, indefinite-lived intangible assets, finite-lived intangible assets, and property, equipment and technology are considered non-financial assets. The Company does not have any non-financial liabilities measured at fair value on a non-recurring basis. Finite-lived intangible assets primarily consist of customer relationships, trade names and reseller relationships, all of which were obtained through acquisitions. If the Company were required to perform a quantitative assessment for impairment testing of goodwill and indefinite-lived intangible assets, the fair values would generally be estimated using an income approach. As the assumptions employed to measure these assets on a non-recurring basis are based on management's judgment using internal and external data, these fair value determinations are classified as Level 3 in the fair value hierarchy. There were no events or changes in circumstances that indicate impairment at December 31, 2016 . Other Fair Value Disclosures Long-term debt. Debt instruments are measured at amortized cost on the Company's unaudited consolidated balance sheet at December 31, 2016 . 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. The pricing data obtained from outside sources is reviewed internally for reasonableness, compared against benchmark quotes from independent pricing sources, then confirmed or revised accordingly. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy. The following table presents the carrying amount and estimated fair value of the Company’s debt in order of maturity. December 31, 2016 September 30, 2016 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value (in millions) 1.20% Senior Notes due December 2017 $ 1,747 $ 1,750 $ 1,746 $ 1,754 2.20% Senior Notes due December 2020 2,988 3,009 2,988 3,077 2.80% Senior Notes due December 2022 2,239 2,263 2,238 2,359 3.15% Senior Notes due December 2025 3,965 4,018 3,964 4,225 4.15% Senior Notes due December 2035 1,485 1,570 1,485 1,698 4.30% Senior Notes due December 2045 3,461 3,694 3,461 4,045 Total $ 15,885 $ 16,304 $ 15,882 $ 17,158 Other financial instruments not measured at fair value. The following financial instruments are not measured at fair value on the Company's unaudited consolidated balance sheet at December 31, 2016 , but disclosure of their fair values is required: time deposits recorded in prepaid expenses and other current assets, settlement receivable and payable, commercial paper, and customer collateral. The estimated fair value of such instruments at December 31, 2016 approximates their carrying 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. Investments Available-for-sale investment securities. The Company had $59 million in gross unrealized gains and $7 million in gross unrealized losses at December 31, 2016 . There were $55 million gross unrealized gains and no gross unrealized losses at September 30, 2016 . A majority of the Company's available-for-sale investment securities with stated maturities are due within one to two years.

Debt

Debt	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	Note 5—Debt The Company had outstanding debt as follows: December 31, 2016 September 30, 2016 Principal Amount Unamortized Discounts and Debt Issuance Costs Carrying Amount Principal Amount Unamortized Discounts and Debt Issuance Costs Carrying Amount Effective Interest Rate (in millions, except percentages) Commercial Paper $ 567 $ (1 ) $ 566 $ — $ — $ — 0.79 % (1) 1.20% Senior Notes due December 2017 (the "2017 Notes") 1,750 (3 ) 1,747 — — — 1.37 % Total current maturities of long-term debt and short-term debt 2,317 (4 ) 2,313 — — — 1.20% Senior Notes due December 2017 (the "2017 Notes") — — — 1,750 (4 ) 1,746 1.37 % 2.20% Senior Notes due December 2020 (the "2020 Notes") 3,000 (12 ) 2,988 3,000 (12 ) 2,988 2.30 % 2.80% Senior Notes due December 2022 (the "2022 Notes") 2,250 (11 ) 2,239 2,250 (12 ) 2,238 2.89 % 3.15% Senior Notes due December 2025 (the "2025 Notes") 4,000 (35 ) 3,965 4,000 (36 ) 3,964 3.26 % 4.15% Senior Notes due December 2035 (the "2035 Notes") 1,500 (15 ) 1,485 1,500 (15 ) 1,485 4.23 % 4.30% Senior Notes due December 2045 (the "2045 Notes") 3,500 (39 ) 3,461 3,500 (39 ) 3,461 4.37 % Total long-term debt 14,250 (112 ) 14,138 16,000 (118 ) 15,882 Total debt $ 16,567 $ (116 ) $ 16,451 $ 16,000 $ (118 ) $ 15,882 (1) Represents the weighted-average interest rate for the commercial paper outstanding at December 31, 2016. Senior Notes The Company recognized interest expense for the senior notes, which were issued in December 2015, of $125 million and $24 million for the three months ended December 31, 2016 and 2015 , respectively, as non-operating expense. The Company paid $244 million in interest on the senior notes during the three months ended December 31, 2016 . Commercial Paper Program The Company maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. The carrying amount outstanding at December 31, 2016 was $566 million , with a weighted-average interest rate of 0.79% and remaining maturities ranging from 37 days to 66 days. As of September 30, 2016, the Company had no outstanding obligations under the program. Credit Facility Extension On January 27, 2017, the Company extended the term of the $4.0 billion credit facility that was entered into on January 27, 2016. The credit facility will now expire on January 27, 2022. No other terms were materially changed. A brief description of the material terms and conditions of the credit facility are described in the Company's Form 10-K, as filed with the SEC on November 15, 2016. A copy of the credit facility is filed as Exhibit 10.1 to the Company's Form 10-Q, as filed with the SEC on April 30, 2016 and is hereby incorporated by reference.

Settlement Guarantee Management

Settlement Guarantee Management	3 Months Ended
	Dec. 31, 2016
Settlement Guarantee Management [Abstract]
Settlement Guarantee Management	Note 6—Settlement Guarantee Management The Company indemnifies its clients for settlement losses suffered due to failure of any other clients to fund its settlement obligations in accordance with the Visa 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. The exposure to settlement losses through Visa's settlement indemnification is accounted for as a settlement risk guarantee. The Company’s settlement exposure is limited to the amount of unsettled Visa payment transactions at any point in time. The Company requires certain clients that do not meet its credit standards to post collateral to offset potential loss from their estimated unsettled transactions. The Company’s estimated maximum settlement exposure was $68.7 billion for the quarter ended December 31, 2016 , compared to $67.8 billion for the quarter ended September 30, 2016 . Of these amounts, $3.0 billion and $2.9 billion were covered by collateral at December 31, 2016 and September 30, 2016 , respectively. The Company maintained collateral as follows: December 31, September 30, (in millions) Cash equivalents (1) $ 1,283 $ 1,295 Pledged securities at market value 166 170 Letters of credit 1,328 1,311 Guarantees 1,443 1,418 Total $ 4,220 $ 4,194 (1) Cash collateral held by Visa Europe is not included on the Company's consolidated balance sheets as its clients retain beneficial ownership and the cash is only accessible to the Company in the event of default by the client on its settlement obligations. The total available collateral balances presented in the table above were greater than the settlement exposure covered by customer collateral held due to instances in which the available collateral exceeded the total settlement exposure for certain financial institutions at each date presented. The fair value of the settlement risk guarantee is estimated based on a proprietary probability-weighted model and was approximately $2 million at December 31, 2016 and September 30, 2016 . These amounts are reflected in accrued liabilities on the Company's consolidated balance sheets.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Note 7—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 substantially all 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. The components of net periodic benefit cost presented below include the U.S. pension plans and the non-U.S. plans, which represent Visa Europe funded and unfunded pension plans. Disclosures relating to other non-U.S. pension benefit plans are not included as they are immaterial, individually and in aggregate. In October 2015, the U.S. qualified defined benefit pension plan was amended such that the Company discontinued employer provided credits after December 31, 2015, and that plan participants continue to earn interest credits on existing balances at the time of the freeze. The Visa Europe pension plans had been closed to new entrants prior to the Visa Europe acquisition. U.S. Plans Non-U.S. Plans Pension Benefits Other Postretirement Benefits Pension Benefits Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 (in millions) Service cost $ — $ 13 $ — $ — $ 2 Interest cost 9 11 — — 3 Expected return on assets (18 ) (17 ) — — (4 ) Amortization of: Prior service credit — (1 ) (1 ) (1 ) — Actuarial loss 4 2 — — — Curtailment gain — (8 ) — — — Settlement loss 2 — — — — Total net periodic benefit cost $ (3 ) $ — $ (1 ) $ (1 ) $ 1

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 8—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 at December 31, 2016 , are as follows: (in millions, except conversion rates) Shares Outstanding Conversion Rate Into Class A Common Stock As-converted Class A Common Stock (1) U.K.&I preferred stock 2 13.9520 35 Europe preferred stock 3 13.9520 44 Class A common stock (2) 1,854 — 1,854 Class B common stock 245 1.6483 (3) 405 Class C common stock 16 4.0000 62 Total 2,400 (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) Class A common stock shares outstanding exclude repurchases traded but not yet settled on or before December 31, 2016. (3) 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. Common stock repurchases. The following table presents share repurchases in the open market. (1) (in millions, except per share data) Three Months Ended Shares repurchased in the open market (2) 24 Average repurchase price per share (3) $ 79.94 Total cost $ 1,893 (1) Shares repurchased in the open market reflect repurchases settled during the three months ended December 31, 2016 . These amounts include repurchases traded but not yet settled on or before September 30, 2016 and exclude repurchases traded but not yet settled on or before December 31, 2016. (2) All shares repurchased in the open market have been retired and constitute authorized but unissued shares. (3) Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share is calculated based on unrounded numbers. As of December 31, 2016 , the Company's July 2016 program had remaining authorized funds of $3.9 billion for share repurchase. All share repurchase programs authorized prior to July 2016 have been completed. Dividends. In January 2017, the Company’s board of directors declared a quarterly cash dividend of $0.165 per share of class A common stock (determined in the case of class B and C common stock and U.K.&I and Europe preferred stock on an as-converted basis). The cash dividend will be paid on March 7, 2017 , to all holders of record of the Company's common and preferred stock as of February 17, 2017 . The Company declared and paid $399 million in dividends to holders of the Company's common stock during the three months ended December 31, 2016 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 9—Earnings Per Share Basic earnings per share is computed by dividing net income available to each class by the weighted-average number of shares of common stock outstanding and participating securities during the period. 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 of each class of common stock outstanding reflects changes in ownership over the periods presented. See Note 8—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 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 U.K.&I and Europe preferred stock and class B and C common stock based on the conversion rate 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 Employee Stock Purchase Plan and the assumed vesting of unearned performance shares. The following table presents earnings per share for the three months ended December 31, 2016 . (1) Basic Earnings Per Share Diluted Earnings Per Share (in millions, except per share data) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Class A common stock $ 1,594 1,860 $ 0.86 $ 2,070 2,421 (3) $ 0.86 Class B common stock 347 245 $ 1.41 $ 346 245 $ 1.41 Class C common stock 57 17 $ 3.43 $ 57 17 $ 3.42 Participating securities (4) 72 Not presented Not presented $ 72 Not presented Not presented Net income $ 2,070 The following table presents earnings per share for the three months ended December 31, 2015 . (1) Basic Earnings Per Share Diluted Earnings Per Share (in millions, except per share data) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Class A common stock $ 1,550 1,937 $ 0.80 $ 1,941 2,430 (3) $ 0.80 Class B common stock 324 245 $ 1.32 $ 323 245 $ 1.32 Class C common stock 63 20 $ 3.20 $ 63 20 $ 3.20 Participating securities (4) 4 Not presented Not presented $ 4 Not presented Not presented Net income $ 1,941 (1) Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers. (2) 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 405 million for the three months ended December 31, 2016 and 2015. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 67 million and 78 million for the three months ended December 31, 2016 and 2015, respectively. The weighted-average number of shares of as-converted U.K.&I and Europe preferred stock, included within participating securities, used in the income allocation was 35 million and 44 million , respectively, for the three months ended December 31, 2016 . (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 computation includes approximately 5 million common stock equivalents for the three months ended December 31, 2016 and 2015 because their effect would be dilutive. The computation excludes 3 million and 1 million of common stock equivalents for the three months ended December 31, 2016 and 2015, respectively, because their effect would have been anti-dilutive. (4) Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company's U.K.&I and Europe preferred stock, restricted stock awards, restricted stock units and earned performance-based shares. Participating securities' income is allocated based on the weighted-average number of shares of as-converted stock.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Dec. 31, 2016
Share-based Compensation [Abstract]
Share-based Compensation	Note 10—Share-based Compensation The Company granted the following equity awards to employees and non-employee directors under the 2007 Equity Incentive Compensation Plan during the three months ended December 31, 2016 : Granted Weighted-Average Grant Date Fair Value Weighted-Average Exercise Price Non-qualified stock options 1,671,344 $ 13.90 $ 80.82 Restricted stock units ("RSUs") 2,952,720 $ 80.82 Performance-based shares (1) 634,651 $ 86.37 (1) Represents the maximum number of performance-based shares which could be earned. The Company’s non-qualified stock options and RSUs are equity awards with service-only conditions and are accordingly expensed on a straight-line basis over the vesting period. The Company's performance-based shares are equity awards with service, market and performance conditions that are accounted for using the graded-vesting method. The Company recorded share-based compensation cost of $45 million for the three months ended December 31, 2016 , net of estimated forfeitures, which are adjusted as appropriate.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 11—Income Taxes The effective income tax rates were 31% and 26% for the three months ended December 31, 2016 and 2015 , respectively. The effective tax rate for the three months ended December 31, 2016 differs from the effective tax rate in the same period in the prior fiscal year primarily due to: • $26 million of excess tax benefits related to share-based payments recorded during the quarter ended December 31, 2016 as a result of early adoption of new Accounting Standards Update 2016-09. See Note 1—Summary of Significant Accounting Policies ; • the restrictions on U.S. foreign tax credits that can be claimed on Visa Europe's foreign taxes under the current tax structure; • the absence of the non-taxable $255 million revaluation of the Visa Europe put option recorded in the quarter ended December 31, 2015; and • the absence of foreign tax credit benefits related to prior fiscal years recognized during the quarter ended December 31, 2015. During the three months ended December 31, 2016 , the Company's gross unrecognized tax benefits increased by $33 million , of which $28 million would favorably impact the effective tax rate if recognized. The increase in gross unrecognized tax benefits is primarily related to various tax positions across several jurisdictions. During the three months ended December 31, 2016 and 2015, respectively, there were no significant changes in interest and penalties related to uncertain tax positions. The Company’s tax filings are subject to examination by the U.S. federal, state and foreign taxing authorities. The timing and outcome of the final resolutions of the various ongoing income tax examinations are highly uncertain. It is not reasonably possible to estimate the increase or decrease in unrecognized tax benefits within the next twelve months.

Legal Matters

Legal Matters	3 Months Ended
	Dec. 31, 2016
Legal Matters [Abstract]
Legal Matters	Note 12—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. Accordingly, except as disclosed, the Company has not established reserves or ranges of possible loss related to these proceedings, as at this time in the proceedings, the matters do not relate to a probable loss and/or the amount or range of losses are not reasonably estimable. 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. Fiscal 2017 Fiscal 2016 (in millions) Balance at October 1 $ 981 $ 1,024 Provision for uncovered legal matters 15 — Accrual of VE territory covered litigation 86 — Payments on legal matters (88 ) (12 ) Balance at December 31 $ 994 $ 1,012 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. See Note 3—U.S. and Europe Retrospective Responsibility Plans . An accrual for the U.S. covered litigation and a charge to the litigation provision are recorded when 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 litigation committee. The total accrual related to the U.S. covered litigation could be either higher or lower than the escrow account balance. The following table summarizes the activity related to U.S. covered litigation. Fiscal 2017 Fiscal 2016 (in millions) Balance at October 1 $ 978 $ 1,023 Payments on U.S. covered litigation — (11 ) Balance at December 31 $ 978 $ 1,012 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 a periodic adjustment to the conversion rates applicable to the U.K.&I preferred stock and Europe 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 3—U.S. and Europe Retrospective Responsibility Plans . The following table summarizes the activity related to VE territory covered litigation. Fiscal 2017 (in millions) Balance at October 1 $ 2 Accrual for VE territory covered litigation 86 Payments on VE territory covered litigation (88 ) Balance at December 31 $ — Interchange Multidistrict Litigation (MDL) On November 23, 2016, class plaintiffs that signed the 2012 Settlement Agreement filed a petition for writ of certiorari with the U.S. Supreme Court seeking review of the Second Circuit’s decision that vacated the district court’s certification of the merchant class and reversed the approval of the settlement. On November 30, 2016, the district court entered an order appointing interim counsel for the putative classes of plaintiffs. Consumer Interchange Litigation On December 9, 2016, the Second Circuit denied plaintiffs’ petition for rehearing. VE Territory Covered Litigation U.K. Merchant Litigation Since July 2013, in excess of 100 Merchants (the capitalized term "Merchant," when used in this section, means a merchant together with subsidiary/affiliate companies who have issued claims jointly) have commenced proceedings against Visa Europe, Visa Inc. and Visa International relating to interchange rates in Europe, and seek damages for alleged anti-competitive conduct primarily in relation to U.K. domestic and/or Irish domestic and/or intra-EEA interchange fees for credit and debit cards. As of the filing date, Visa Europe, Visa Inc. and Visa International have settled the claims asserted by four Merchants. The trial in relation to claims filed by a number of Merchants in 2013 commenced in November 2016 and is expected to continue until February 2017. In addition, over 30 additional Merchants have threatened to commence similar proceedings. Standstill agreements have been entered into with respect to some of those Merchants' claims. Other Litigation "Indirect Purchaser" Actions On January 12, 2017, the appeals court affirmed the trial court's order denying the objector's motion for attorneys' fees and costs. Data Pass Litigation On December 20, 2016, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal as to certain claims against Gamestop Corporation, Webloyalty.com, Inc. and Visa, vacated the dismissal as to certain claims against Webloyalty and Gamestop, and remanded the case to the district court for further proceedings on the remaining claims. U.S. ATM Access Fee Litigation On November 17, 2016, the U.S. Supreme Court ordered that the writs of certiorari be dismissed as improvidently granted. Federal Trade Commission Notice Regarding EMV Chip Debit Cards. On November 22, 2016, the FTC's Bureau of Competition informed Visa that the Bureau had closed its investigation. Korea Fair Trade Commission Following complaints lodged by certain financial institutions in Korea, in November 2016, the Korea Fair Trade Commission (KFTC) initiated an investigation into certain pricing changes applicable to Visa financial institutions in Korea. Visa is cooperating with the KFTC.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation and basis of presentation	Consolidation and basis of presentation. The accompanying unaudited 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. The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission ("SEC") requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by U.S. GAAP. Reference should be made to the Visa Annual Report on Form 10-K for the year ended September 30, 2016 for additional disclosures, including a summary of the Company’s significant accounting policies. In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the interim periods presented.
Recently issued and adopted accounting pronouncements	Recently Issued and Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of goods or services to customers. The ASU will replace existing revenue recognition guidance in U.S. GAAP when it becomes effective. Subsequently, the FASB also issued a series of amendments to the new revenue standard. The Company will adopt the standard effective October 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method and is evaluating the full effect that ASU 2014-09 and all of its related subsequent updates will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for share-based payments, including the accounting for excess tax benefits and deficiencies, forfeitures, and statutory tax withholding requirements, as well as classification on the statement of cash flows related to excess tax benefits and employee taxes paid when an employer withholds shares for tax-withholding purposes. The Company elected to early adopt this guidance effective October 1, 2016. The adoption had the following impact on the consolidated financial statements: • The Company recorded excess tax benefits of $26 million in our provision for income taxes rather than as an increase to additional paid-in capital for the three months ended December 31, 2016 on a prospective basis. Therefore, the prior period presented has not been adjusted. • The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of diluted earnings per share for the quarter ended December 31, 2016, which increased diluted weighted average common shares outstanding by 1 million , which did not have a material impact on our diluted earnings per share. • The Company elected to apply the presentation requirement for cash flows related to excess tax benefits prospectively, and thus, the prior period presented has not been adjusted. This adoption resulted in an increase to both net cash provided by operating activities and net cash used in financing of $26 million for the three months ended December 31, 2016. In October 2016, the FASB issued ASU 2016-16, which requires that entities recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The Company is evaluating the effect that ASU 2016-16 will have on its consolidated financial statements and is considering early adoption of the standard. In November 2016, the FASB issued ASU 2016-18, which requires that a statement of cash flows should include the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents when reconciling the beginning-of-period and end-of-period total amounts. The Company is evaluating the effect that ASU 2016-18 will have on its consolidated financial statements and is considering early adoption of the standard. In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 from the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company will adopt the standard effective October 1, 2020. The adoption is not expected to have a material impact on the consolidated financial statements.

Visa Europe (Tables)

Visa Europe (Tables)	3 Months Ended
	Dec. 31, 2016
European Activities [Abstract]
Schedule of Pro Forma Information	The following table presents unaudited supplemental pro forma information for the three months ended December 31, 2015, as if the acquisition and related issuance of senior notes had occurred on October 1, 2014. The pro forma financial information is not necessarily indicative of the Company's consolidated results of operations that would have been realized had the acquisition been completed on October 1, 2014, nor does it purport to project the future results of operations of the combined company or reflect any reorganizations, or cost or other operating synergies that may occur subsequent to the Closing. The actual results of operations of the combined company may differ significantly from the pro forma results presented here due to many factors. Consolidated Actual Results Unaudited Pro Forma Consolidated Results Three Months Ended December 31, 2016 2015 (in millions, except per share data) Net operating revenues $ 4,461 $ 3,964 Net income $ 2,070 $ 1,776 Diluted earnings per share $ 0.86 $ 0.71

U.S. and Europe Retrospective21

U.S. and Europe Retrospective Responsibility Plans (Tables)	3 Months Ended
	Dec. 31, 2016
Retrospective Responsibility Plan [Abstract]
Schedule of As-converted and Book Value of Preferred Stock Available to Recover Europe Covered Losses	The following table sets forth the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred shares recorded in stockholders' equity within the Company's unaudited consolidated balance sheet as of December 31, 2016. (1) December 31, 2016 As-Converted Value of Preferred Stock (2) Book Value of Preferred Stock (in millions) U.K.&I preferred stock $ 2,700 $ 2,516 Europe preferred stock 3,436 3,201 Total $ 6,136 $ 5,717 Less: Right to recover for covered losses (128 ) (128 ) Total recovery for covered losses available $ 6,008 $ 5,589 (1) Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers. (2) The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the U.K.&I and Europe preferred stock outstanding, respectively, as of December 31, 2016; (b) the 13.952 class A common stock conversion rate applicable to both the U.K.&I and Europe preferred stock as of December 31, 2016; and (c) $78.02 , Visa's class A common stock closing stock price as of December 31, 2016.

Fair Value Measurements and I22

Fair Value Measurements and Investments (Tables)	3 Months Ended
	Dec. 31, 2016
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 Using Inputs Considered as Level 1 Level 2 December 31, September 30, December 31, September 30, (in millions) Assets Cash equivalents and restricted cash: Money market funds $ 4,819 $ 4,537 U.S. government-sponsored debt securities $ — $ 196 Investment securities, trading: Equity securities 82 71 Investment securities, available-for-sale: U.S. government-sponsored debt securities 4,671 4,699 U.S. Treasury securities 2,554 2,178 Equity securities 62 53 Corporate debt securities 130 249 Prepaid and other current assets: Foreign exchange derivative instruments 88 50 Other assets: Foreign exchange derivative instruments 2 6 Total $ 7,517 $ 6,839 $ 4,891 $ 5,200 Liabilities Accrued liabilities: Foreign exchange derivative instruments $ 76 $ 116 Other liabilities: Foreign exchange derivative instruments 8 20 Total $ — $ — $ 84 $ 136
Schedule of Long-term Debt Instruments	The following table presents the carrying amount and estimated fair value of the Company’s debt in order of maturity. December 31, 2016 September 30, 2016 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value (in millions) 1.20% Senior Notes due December 2017 $ 1,747 $ 1,750 $ 1,746 $ 1,754 2.20% Senior Notes due December 2020 2,988 3,009 2,988 3,077 2.80% Senior Notes due December 2022 2,239 2,263 2,238 2,359 3.15% Senior Notes due December 2025 3,965 4,018 3,964 4,225 4.15% Senior Notes due December 2035 1,485 1,570 1,485 1,698 4.30% Senior Notes due December 2045 3,461 3,694 3,461 4,045 Total $ 15,885 $ 16,304 $ 15,882 $ 17,158

Debt (Tables)

Debt (Tables)	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The Company had outstanding debt as follows: December 31, 2016 September 30, 2016 Principal Amount Unamortized Discounts and Debt Issuance Costs Carrying Amount Principal Amount Unamortized Discounts and Debt Issuance Costs Carrying Amount Effective Interest Rate (in millions, except percentages) Commercial Paper $ 567 $ (1 ) $ 566 $ — $ — $ — 0.79 % (1) 1.20% Senior Notes due December 2017 (the "2017 Notes") 1,750 (3 ) 1,747 — — — 1.37 % Total current maturities of long-term debt and short-term debt 2,317 (4 ) 2,313 — — — 1.20% Senior Notes due December 2017 (the "2017 Notes") — — — 1,750 (4 ) 1,746 1.37 % 2.20% Senior Notes due December 2020 (the "2020 Notes") 3,000 (12 ) 2,988 3,000 (12 ) 2,988 2.30 % 2.80% Senior Notes due December 2022 (the "2022 Notes") 2,250 (11 ) 2,239 2,250 (12 ) 2,238 2.89 % 3.15% Senior Notes due December 2025 (the "2025 Notes") 4,000 (35 ) 3,965 4,000 (36 ) 3,964 3.26 % 4.15% Senior Notes due December 2035 (the "2035 Notes") 1,500 (15 ) 1,485 1,500 (15 ) 1,485 4.23 % 4.30% Senior Notes due December 2045 (the "2045 Notes") 3,500 (39 ) 3,461 3,500 (39 ) 3,461 4.37 % Total long-term debt 14,250 (112 ) 14,138 16,000 (118 ) 15,882 Total debt $ 16,567 $ (116 ) $ 16,451 $ 16,000 $ (118 ) $ 15,882 (1) Represents the weighted-average interest rate for the commercial paper outstanding at December 31, 2016.

Settlement Guarantee Manageme24

Settlement Guarantee Management (Tables)	3 Months Ended
	Dec. 31, 2016
Business Acquisition [Line Items]
Schedule of Customer Collateral	The Company maintained collateral as follows: December 31, September 30, (in millions) Cash equivalents (1) $ 1,283 $ 1,295 Pledged securities at market value 166 170 Letters of credit 1,328 1,311 Guarantees 1,443 1,418 Total $ 4,220 $ 4,194
Visa Europe
Business Acquisition [Line Items]
Schedule of Customer Collateral	(1) Cash collateral held by Visa Europe is not included on the Company's consolidated balance sheets as its clients retain beneficial ownership and the cash is only accessible to the Company in the event of default by the client on its settlement obligations.

Pension and Other Postretirem25

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures	U.S. Plans Non-U.S. Plans Pension Benefits Other Postretirement Benefits Pension Benefits Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 (in millions) Service cost $ — $ 13 $ — $ — $ 2 Interest cost 9 11 — — 3 Expected return on assets (18 ) (17 ) — — (4 ) Amortization of: Prior service credit — (1 ) (1 ) (1 ) — Actuarial loss 4 2 — — — Curtailment gain — (8 ) — — — Settlement loss 2 — — — — Total net periodic benefit cost $ (3 ) $ — $ (1 ) $ (1 ) $ 1

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The number of shares of each series and class and the number of shares of class A common stock on an as-converted basis at December 31, 2016 , are as follows: (in millions, except conversion rates) Shares Outstanding Conversion Rate Into Class A Common Stock As-converted Class A Common Stock (1) U.K.&I preferred stock 2 13.9520 35 Europe preferred stock 3 13.9520 44 Class A common stock (2) 1,854 — 1,854 Class B common stock 245 1.6483 (3) 405 Class C common stock 16 4.0000 62 Total 2,400 (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) Class A common stock shares outstanding exclude repurchases traded but not yet settled on or before December 31, 2016. (3) 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.
Share Repurchase Program Disclosure	The following table presents share repurchases in the open market. (1) (in millions, except per share data) Three Months Ended Shares repurchased in the open market (2) 24 Average repurchase price per share (3) $ 79.94 Total cost $ 1,893 (1) Shares repurchased in the open market reflect repurchases settled during the three months ended December 31, 2016 . These amounts include repurchases traded but not yet settled on or before September 30, 2016 and exclude repurchases traded but not yet settled on or before December 31, 2016. (2) All shares repurchased in the open market have been retired and constitute authorized but unissued shares. (3) Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share is calculated based on unrounded numbers.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents earnings per share for the three months ended December 31, 2016 . (1) Basic Earnings Per Share Diluted Earnings Per Share (in millions, except per share data) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Class A common stock $ 1,594 1,860 $ 0.86 $ 2,070 2,421 (3) $ 0.86 Class B common stock 347 245 $ 1.41 $ 346 245 $ 1.41 Class C common stock 57 17 $ 3.43 $ 57 17 $ 3.42 Participating securities (4) 72 Not presented Not presented $ 72 Not presented Not presented Net income $ 2,070 The following table presents earnings per share for the three months ended December 31, 2015 . (1) Basic Earnings Per Share Diluted Earnings Per Share (in millions, except per share data) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Income Allocation (A) (2) Weighted- Average Shares Outstanding (B) Earnings per Share = (A)/(B) Class A common stock $ 1,550 1,937 $ 0.80 $ 1,941 2,430 (3) $ 0.80 Class B common stock 324 245 $ 1.32 $ 323 245 $ 1.32 Class C common stock 63 20 $ 3.20 $ 63 20 $ 3.20 Participating securities (4) 4 Not presented Not presented $ 4 Not presented Not presented Net income $ 1,941 (1) Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers. (2) 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 405 million for the three months ended December 31, 2016 and 2015. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 67 million and 78 million for the three months ended December 31, 2016 and 2015, respectively. The weighted-average number of shares of as-converted U.K.&I and Europe preferred stock, included within participating securities, used in the income allocation was 35 million and 44 million , respectively, for the three months ended December 31, 2016 . (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 computation includes approximately 5 million common stock equivalents for the three months ended December 31, 2016 and 2015 because their effect would be dilutive. The computation excludes 3 million and 1 million of common stock equivalents for the three months ended December 31, 2016 and 2015, respectively, because their effect would have been anti-dilutive. (4) Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company's U.K.&I and Europe preferred stock, restricted stock awards, restricted stock units and earned performance-based shares. Participating securities' income is allocated based on the weighted-average number of shares of as-converted stock.

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Dec. 31, 2016
Share-based Compensation [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The Company granted the following equity awards to employees and non-employee directors under the 2007 Equity Incentive Compensation Plan during the three months ended December 31, 2016 : Granted Weighted-Average Grant Date Fair Value Weighted-Average Exercise Price Non-qualified stock options 1,671,344 $ 13.90 $ 80.82 Restricted stock units ("RSUs") 2,952,720 $ 80.82 Performance-based shares (1) 634,651 $ 86.37 (1) Represents the maximum number of performance-based shares which could be earned.

Legal Matters (Tables)

Legal Matters (Tables)	3 Months Ended
	Dec. 31, 2016
Loss Contingencies [Line Items]
Schedule of Loss Contingencies by Contingency	The following table summarizes the activity related to accrued litigation. Fiscal 2017 Fiscal 2016 (in millions) Balance at October 1 $ 981 $ 1,024 Provision for uncovered legal matters 15 — Accrual of VE territory covered litigation 86 — Payments on legal matters (88 ) (12 ) Balance at December 31 $ 994 $ 1,012
Covered Litigation
Loss Contingencies [Line Items]
Schedule of Loss Contingencies by Contingency	The following table summarizes the activity related to U.S. covered litigation. Fiscal 2017 Fiscal 2016 (in millions) Balance at October 1 $ 978 $ 1,023 Payments on U.S. covered litigation — (11 ) Balance at December 31 $ 978 $ 1,012

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)countryshares	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Number of countries in which entity operates (more than) | country	200
Excess tax benefits	$ 909	$ 698
Increase to net cash provided by operating activities	2,508	1,979
Increase in net cash used in financing activities	(1,730)	$ 13,534
New Accounting Pronouncement, Early Adoption, Effect
Business Acquisition [Line Items]
Excess tax benefits	$ (26)
Increase to diluted weighted average common shares outstanding (shares) | shares	1
Increase to net cash provided by operating activities	$ 26
Increase in net cash used in financing activities	$ (26)

Visa Europe (Details)

Visa Europe (Details) $ / shares in Units, $ in Millions, € in Billions	Jun. 21, 2016EUR (€)shares	Jun. 21, 2016USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / shares	Sep. 30, 2016USD ($)	Jun. 21, 2016EUR (€)
Class of Stock [Line Items]
Additional cash consideration payable on the third anniversary of closing | $			$ 1,164	$ 1,225
Class A equivalent preferred stock
Class of Stock [Line Items]
Preferred stock, par value			$ 0.0001
U.K.& I preferred stock
Class of Stock [Line Items]
Preferred stock, par value			0.0001
Europe preferred stock
Class of Stock [Line Items]
Preferred stock, par value			$ 0.0001
Visa Europe
Class of Stock [Line Items]
Share capital of Visa Europe acquired (percent)					100.00%
Up-front cash consideration	€ 12.2	$ 13,900
Shares issued or issuable at closing (shares) | shares	79,000,000	79,000,000
Consideration, preferred stock of the Company	€ 5.3	$ 6,100
Additional cash consideration payable on the third anniversary of closing | €					€ 1
Compound annual interest rate on additional consideration paid on third anniversary of closing (percent)					4.00%
Initial conversion rate of U.K.&I and Europe preferred stock into Class A equivalent preferred stock					13.952
Visa Europe | U.K.& I preferred stock
Class of Stock [Line Items]
Shares issued or issuable at closing (shares) | shares	2,480,466	2,480,466
Visa Europe | Europe preferred stock
Class of Stock [Line Items]
Shares issued or issuable at closing (shares) | shares	3,156,823	3,156,823
Visa Europe | Class A common stock
Class of Stock [Line Items]
Closing stock price (in USD per share)		$ 77.33

Visa Europe Pro Forma Informati

Visa Europe Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Visa Europe
Business Acquisition [Line Items]
Net operating revenues	$ 4,461	$ 3,964
Net income	$ 2,070	$ 1,776
Diluted earnings per share (in USD per share)	$ 0.86	$ 0.71
Senior Notes | Visa Europe
Business Acquisition [Line Items]
Debt issued	$ 16,000
Visa Europe put option
Business Acquisition [Line Items]
Revaluation of the Visa Europe put option		$ (255)

U.S. and Europe Retrospective33

U.S. and Europe Retrospective Responsibility Plans (Details) $ / shares in Units, € in Millions, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016EUR (€)	Dec. 31, 2016USD ($)$ / sharesshares		Sep. 30, 2016USD ($)shares	Jun. 21, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Escrow account | $		$ 1,028		$ 1,027
VE territory covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period | €	€ 20
Right to recover for covered losses | $		$ 128	[1],[2]	$ 34
Closing stock price | $ / shares		$ 78.02
U.K.& I preferred stock
Restricted Cash and Cash Equivalents Items [Line Items]
Preferred stock, shares outstanding | shares		2		2
Europe preferred stock
Restricted Cash and Cash Equivalents Items [Line Items]
Preferred stock, shares outstanding | shares		3		3
Visa Europe
Restricted Cash and Cash Equivalents Items [Line Items]
Initial conversion rate of U.K.&I and Europe preferred stock into Class A equivalent preferred stock					13.952
[1]	Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
[2]	The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the U.K.&I and Europe preferred stock outstanding, respectively, as of December 31, 2016; (b) the 13.952 class A common stock conversion rate applicable to both the U.K.&I and Europe preferred stock as of December 31, 2016; and (c) $78.02, Visa's class A common stock closing stock price as of December 31, 2016.

U.S. and Europe Retrospective34

U.S. and Europe Retrospective Responsibility Plans Preferred Stock (Details) - USD ($) $ in Millions		Dec. 31, 2016		Sep. 30, 2016
Class of Stock [Line Items]
As-converted value of preferred stock	[1],[2]	$ 6,136
Book value of preferred stock	[1]	5,717
Right to recover for covered losses		(128)	[1],[2]	$ (34)
Total recovery for covered losses available, as converted	[1],[2]	6,008
Total recovery for covered losses available, book value	[1]	5,589
U.K.& I preferred stock
Class of Stock [Line Items]
As-converted value of preferred stock	[1],[2]	2,700
Book value of preferred stock	[1]	2,516
Europe preferred stock
Class of Stock [Line Items]
As-converted value of preferred stock	[1],[2]	3,436
Book value of preferred stock	[1]	$ 3,201
[1]	Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
[2]	The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the U.K.&I and Europe preferred stock outstanding, respectively, as of December 31, 2016; (b) the 13.952 class A common stock conversion rate applicable to both the U.K.&I and Europe preferred stock as of December 31, 2016; and (c) $78.02, Visa's class A common stock closing stock price as of December 31, 2016.

Fair Value Measurements and I35

Fair Value Measurements and Investments - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-marketable equity investments	$ 48,000,000	$ 46,000,000
Carrying amount, current	2,313,000,000	0
Carrying amount, noncurrent	14,138,000,000	15,882,000,000
Long-term Debt	14,138,000,000	15,882,000,000
Available-for-sale securities, gross unrealized gains	59,000,000	55,000,000
Available-for-sale securities, gross unrealized losses	$ 7,000,000	0
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, stated maturities	1 year
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, stated maturities	2 years
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	$ 15,885,000,000	15,882,000,000
Long-term Debt, Fair Value	16,304,000,000	17,158,000,000
Senior Notes | 2017 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, current	1,747,000,000	0
Carrying amount, noncurrent	0	1,746,000,000
Long-term Debt, Fair Value	1,750,000,000	1,754,000,000
Senior Notes | 2020 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, noncurrent	2,988,000,000	2,988,000,000
Long-term Debt, Fair Value	3,009,000,000	3,077,000,000
Senior Notes | 2022 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, noncurrent	2,239,000,000	2,238,000,000
Long-term Debt, Fair Value	2,263,000,000	2,359,000,000
Senior Notes | 2025 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, noncurrent	3,965,000,000	3,964,000,000
Long-term Debt, Fair Value	4,018,000,000	4,225,000,000
Senior Notes | 2035 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, noncurrent	1,485,000,000	1,485,000,000
Long-term Debt, Fair Value	1,570,000,000	1,698,000,000
Senior Notes | 2045 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount, noncurrent	3,461,000,000	3,461,000,000
Long-term Debt, Fair Value	$ 3,694,000,000	$ 4,045,000,000

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Investment securities:
Trading	$ 82	$ 71
Accrued liabilities
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0
Level 1 | Fair Value, Measurements, Recurring
Prepaid and other current assets:
Fair value, total assets	7,517	6,839
Accrued liabilities
Fair value, total liabilities	0	0
Level 2 | Fair Value, Measurements, Recurring
Prepaid and other current assets:
Fair value, total assets	4,891	5,200
Accrued liabilities
Fair value, total liabilities	84	136
Foreign exchange derivative instruments | Level 2 | Fair Value, Measurements, Recurring
Accrued liabilities
Foreign exchange derivative instruments	76	116
Other liabilities	8	20
Money market funds | Level 1 | Fair Value, Measurements, Recurring
Cash equivalents and restricted cash:
Cash equivalents and restricted cash:	4,819	4,537
Equity securities | Level 1 | Fair Value, Measurements, Recurring
Investment securities:
Trading	82	71
Available-for-sale securities	62	53
U.S. Treasury securities | Level 1 | Fair Value, Measurements, Recurring
Investment securities:
Available-for-sale securities	2,554	2,178
U.S. government-sponsored debt securities | Level 2 | Fair Value, Measurements, Recurring
Cash equivalents and restricted cash:
Cash equivalents and restricted cash:	0	196
Investment securities:
Available-for-sale securities	4,671	4,699
Corporate debt securities | Level 2 | Fair Value, Measurements, Recurring
Investment securities:
Available-for-sale securities	130	249
Foreign exchange derivative instruments | Level 2 | Fair Value, Measurements, Recurring
Prepaid and other current assets:
Prepaid and other current assets:	88	50
Other assets	$ 2	$ 6

Debt - Debt (Details)

Debt - Debt (Details) - USD ($) $ in Millions		Dec. 31, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Principal Amount, current		$ 2,317	$ 0
Unamortized Discounts and Debt Issuance Costs, current		(4)	0
Carrying Amount, current		2,313	0
Principal Amount, noncurrent		14,250	16,000
Unamortized Discounts and Debt Issuance Costs, noncurrent		(112)	(118)
Carrying Amount, noncurrent		14,138	15,882
Total debt, principal		16,567	16,000
Unamortized Discounts and Debt Issuance Costs		(116)	(118)
Carrying Amount		$ 16,451	15,882
Senior Notes | 2017 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		1.20%
Principal Amount, current		$ 1,750	0
Unamortized Discounts and Debt Issuance Costs, current		(3)	0
Carrying Amount, current		1,747	0
Principal Amount, noncurrent		0	1,750
Unamortized Discounts and Debt Issuance Costs, noncurrent		0	(4)
Carrying Amount, noncurrent		$ 0	1,746
Effective Interest Rate (percent)		1.37%
Senior Notes | 2020 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		2.20%
Principal Amount, noncurrent		$ 3,000	3,000
Unamortized Discounts and Debt Issuance Costs, noncurrent		(12)	(12)
Carrying Amount, noncurrent		$ 2,988	2,988
Effective Interest Rate (percent)		2.30%
Senior Notes | 2022 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		2.80%
Principal Amount, noncurrent		$ 2,250	2,250
Unamortized Discounts and Debt Issuance Costs, noncurrent		(11)	(12)
Carrying Amount, noncurrent		$ 2,239	2,238
Effective Interest Rate (percent)		2.89%
Senior Notes | 2025 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		3.15%
Principal Amount, noncurrent		$ 4,000	4,000
Unamortized Discounts and Debt Issuance Costs, noncurrent		(35)	(36)
Carrying Amount, noncurrent		$ 3,965	3,964
Effective Interest Rate (percent)		3.26%
Senior Notes | 2035 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		4.15%
Principal Amount, noncurrent		$ 1,500	1,500
Unamortized Discounts and Debt Issuance Costs, noncurrent		(15)	(15)
Carrying Amount, noncurrent		$ 1,485	1,485
Effective Interest Rate (percent)		4.23%
Senior Notes | 2045 Notes
Debt Instrument [Line Items]
Stated interest rate (percent)		4.30%
Principal Amount, noncurrent		$ 3,500	3,500
Unamortized Discounts and Debt Issuance Costs, noncurrent		(39)	(39)
Carrying Amount, noncurrent		$ 3,461	3,461
Effective Interest Rate (percent)		4.37%
Commercial Paper
Debt Instrument [Line Items]
Principal Amount, current		$ 567	0
Unamortized Discounts and Debt Issuance Costs, current		(1)	0
Carrying Amount, current		$ 566	$ 0
Effective Interest Rate, current (percent)	[1]	0.79%
[1]	Represents the weighted-average interest rate for the commercial paper outstanding at December 31, 2016.

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jan. 27, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Interest payments on debt (Note 5)	$ 244,000,000	$ 0
Carrying Amount, current	2,313,000,000			$ 0
Senior Notes
Debt Instrument [Line Items]
Interest expense	$ 125,000,000	$ 24,000,000
Commercial Paper | Minimum
Debt Instrument [Line Items]
Debt maturity period	37 days
Commercial Paper | Maximum
Debt Instrument [Line Items]
Debt maturity period	66 days
Subsequent Event | Credit Facility Expiring January 27, 2022
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 4,000,000,000
Commercial Paper
Debt Instrument [Line Items]
Carrying Amount, current	$ 566,000,000			$ 0

Settlement Guarantee Manageme39

Settlement Guarantee Management - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2015	Sep. 30, 2016
Settlement Guarantee Management [Abstract]
Estimated Maximum Settlement Exposure	$ 68,700	$ 67,800
Covered settlement exposure	3,000		$ 2,900
Estimated probability-weighted value of the guarantee	$ 2		$ 2

Collateral (Detail)

Collateral (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Cash equivalents(1)	$ 1,283	$ 1,295
Pledged securities at market value	166	170
Letters of credit	1,328	1,311
Guarantees	1,443	1,418
Total	$ 4,220	$ 4,194

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 13
Interest cost	9	11
Expected return on assets	(18)	(17)
Amortization of:
Prior service credit	0	(1)
Actuarial loss	4	2
Curtailment gain	0	(8)
Settlement loss	2	0
Total net periodic benefit cost	(3)	0
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	0	0
Expected return on assets	0	0
Amortization of:
Prior service credit	(1)	(1)
Actuarial loss	0	0
Curtailment gain	0	0
Settlement loss	0	0
Total net periodic benefit cost	(1)	$ (1)
Foreign Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	2
Interest cost	3
Expected return on assets	(4)
Amortization of:
Prior service credit	0
Actuarial loss	0
Settlement loss	0
Total net periodic benefit cost	$ 1

Stockholders' Equity - Number o

Stockholders' Equity - Number of Shares of Class A Common Shares Outstanding on an As-Converted Basis (Detail) shares in Millions		Dec. 31, 2016shares		Sep. 30, 2016shares
Schedule of Common Stock as Converted [Line Items]
As-converted Class A Common Stock		2,400
U.K.& I preferred stock
Schedule of Common Stock as Converted [Line Items]
Preferred stock, shares outstanding		2		2
Preferred stock, conversion rate into Class A Common StockRatio		13.9520
As-converted Class A Common Stock	[1]	35
Europe preferred stock
Schedule of Common Stock as Converted [Line Items]
Preferred stock, shares outstanding		3		3
Preferred stock, conversion rate into Class A Common StockRatio		13.9520
As-converted Class A Common Stock	[1]	44
Class A common stock
Schedule of Common Stock as Converted [Line Items]
Common stock, shares outstanding		1,854	[2]	1,871
As-converted Class A Common Stock	[1],[2]	1,854
Class B common stock
Schedule of Common Stock as Converted [Line Items]
Common stock, shares outstanding		245		245
Common stock, conversion rate into Class A Common Stock	[3]	1.6483
As-converted Class A Common Stock	[1]	405
Class C common stock
Schedule of Common Stock as Converted [Line Items]
Common stock, shares outstanding		16		17
Common stock, conversion rate into Class A Common Stock		4
As-converted Class A Common Stock	[1]	62
[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]	Class A common stock shares outstanding exclude repurchases traded but not yet settled on or before December 31, 2016.
[3]	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.

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchases in the Open Market (Detail) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	[2]
Stockholders' Equity Note [Abstract]
Shares repurchased in the open market | shares	24	[1]
Average repurchase price per share | $ / shares	$ 79.94	[3]
Total cost | $	$ 1,893
[1]	All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
[2]	Shares repurchased in the open market reflect repurchases settled during the three months ended December 31, 2016. These amounts include repurchases traded but not yet settled on or before September 30, 2016 and exclude repurchases traded but not yet settled on or before December 31, 2016.
[3]	Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share is calculated based on unrounded numbers.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2016	Jan. 31, 2017
Stockholders Equity Note [Line Items]
Stock Repurchase Remaining Authorized Amount	$ 3,900
Dividends, Cash	$ 399
Subsequent Event | Class A common stock
Stockholders Equity Note [Line Items]
Dividends Payable, Amount Per Share		$ 0.165

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	[1]	$ 2,070	$ 1,941
Class A common stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Income Allocation (A)	[1]	$ 1,594	$ 1,550
Weighted- Average Shares Outstanding (B)		1,860	1,937
Earnings per Share (A)/(B)	[2]	$ 0.86	$ 0.80
Income Allocation (A)	[1]	$ 2,070	$ 1,941
Weighted- Average Shares Outstanding (B)	[3]	2,421	2,430
Earnings per Share (A)/(B)	[2]	$ 0.86	$ 0.80
Class B common stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Income Allocation (A)	[1]	$ 347	$ 324
Weighted- Average Shares Outstanding (B)		245	245
Earnings per Share (A)/(B)	[2]	$ 1.41	$ 1.32
Income Allocation (A)	[1]	$ 346	$ 323
Weighted- Average Shares Outstanding (B)		245	245
Earnings per Share (A)/(B)	[2]	$ 1.41	$ 1.32
Class C common stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Income Allocation (A)	[1]	$ 57	$ 63
Weighted- Average Shares Outstanding (B)		17	20
Earnings per Share (A)/(B)	[2]	$ 3.43	$ 3.20
Income Allocation (A)	[1]	$ 57	$ 63
Weighted- Average Shares Outstanding (B)		17	20
Earnings per Share (A)/(B)	[2]	$ 3.42	$ 3.20
Participating securities
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Income Allocation (A)	[1],[4]	$ 72	$ 4
Income Allocation (A)	[1],[4]	$ 72	$ 4
[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 405 million for the three months ended December 31, 2016 and 2015. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 67 million and 78 million for the three months ended December 31, 2016 and 2015, respectively. The weighted-average number of shares of as-converted U.K.&I and Europe preferred stock, included within participating securities, used in the income allocation was 35 million and 44 million, respectively, for the three months ended December 31, 2016.
[2]	Figures in the table may not recalculate exactly due to rounding. Earnings per share is 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 computation includes approximately 5 million common stock equivalents for the three months ended December 31, 2016 and 2015 because their effect would be dilutive. The computation excludes 3 million and 1 million of common stock equivalents for the three months ended December 31, 2016 and 2015, respectively, because their effect would have been anti-dilutive.
[4]	Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company's U.K.&I and Europe preferred stock, restricted stock awards, restricted stock units and earned performance-based shares. Participating securities' income is allocated based on the weighted-average number of shares of as-converted stock.

Basic and Diluted Earnings Pe46

Basic and Diluted Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Common stock equivalents included in the computation of diluted shares outstanding	5	5
Common stock equivalents excluded from computation of average dilutive shares outstanding	3	1
Class B common stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Weighted-average as-converted common stock used in income allocation	405	405
Class C common stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Weighted-average as-converted common stock used in income allocation	67	78
Series B Preferred Stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Weighted-average as-converted common stock used in income allocation	35
Series C Preferred Stock
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Weighted-average as-converted common stock used in income allocation	44

Share-based Compensation - Awar

Share-based Compensation - Awards Granted to Company Employees and Non-employee Directors Under the 2007 Equity Incentive Compensation Plan (Detail) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation		$ 45	$ 39
Non-qualified stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		1,671,344
Weighted-Average Grant Date Fair Value		$ 13.90
Weighted-Average Exercise Price		$ 80.82
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		2,952,720
Weighted-Average Grant Date Fair Value		$ 80.82
Performance-bases shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	[1]	634,651
Weighted-Average Grant Date Fair Value	[1]	$ 86.37
[1]	Represents the maximum number of performance-based shares which could be earned.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Effective income tax rate reconciliation, percent	31.00%	26.00%
Excess tax benefits	$ 909	$ 698
Revaluation of the Visa Europe put option		$ 255
Increase in unrecognized tax benefits	33
Effective income tax rate reconciliation Unrecognized Tax Benefits that would Favorably Impact Effective Tax Rate	28
New Accounting Pronouncement, Early Adoption, Effect
Business Acquisition [Line Items]
Excess tax benefits	$ (26)

Accrued Litigation for Both Cov

Accrued Litigation for Both Covered and Non-Covered Litigation (Detail) $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)merchant	Dec. 31, 2015USD ($)
Loss Contingency Accrual [Roll Forward]
Balance at beginning of period	$ 981	$ 1,024
Balance at end of period	$ 994	1,012
U.K. Merchant Litigation
Loss Contingencies [Line Items]
Number of plaintiffs | merchant	100
Loss Contingency Accrual [Roll Forward]
Loss Contingency, Claims Settled, Number | merchant	4
Threatened Litigation [Member] | U.K. Merchant Litigation
Loss Contingencies [Line Items]
Number of plaintiffs | merchant	30
Unsettled [Member]
Loss Contingency Accrual [Roll Forward]
Provision for uncovered legal matters	$ 15	0
Settled Litigation [Member]
Loss Contingency Accrual [Roll Forward]
Payments on litigation matters	(88)	(12)
VE Territory Covered Litigation [Member]
Loss Contingency Accrual [Roll Forward]
Balance at beginning of period	2
Provision for uncovered legal matters	86	0
Balance at end of period	0
VE Territory Covered Litigation [Member] | Settled Litigation [Member]
Loss Contingency Accrual [Roll Forward]
Payments on litigation matters	(88)
U.S. Covered Litigation [Member] [Member]
Loss Contingency Accrual [Roll Forward]
Balance at beginning of period	978	1,023
Balance at end of period	978	1,012
U.S. Covered Litigation [Member] [Member] | Settled Litigation [Member]
Loss Contingency Accrual [Roll Forward]
Payments on litigation matters	$ 0	$ (11)