MA FY 2010 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

FY 2010 Earnings

Reported November 23, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$5.5B	—	$5.1B	—	8.6%
Op. Income	$2.8B	—	$2.3B	—	21.8%
Gross Margin	78.0%	—	100.0%	—	-22.0pp
Net Margin	33.3%	—	28.7%	—	4.6pp
EPS (Diluted)	$1.41	—	$1.12	—	25.9%
Free Cash Flow	$1.5B	—	$1.2B	—	24.8%

Revenue Flow

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$782M
General & Administrative	$635M
SG&A Expenses	$1.4B
Other Expenses	$151M
Operating Expenses	$1.6B
Cost & Expenses	$2.8B
OPERATING INCOME	$2.8B
Interest Income	$48M
Interest Expense	$52M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$910M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$148M
EBIT	$2.8B
EBITDA	$3.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$782M
General & Administrative	$635M
SG&A Expenses	$1.4B
Other Expenses	$151M
Operating Expenses	$1.6B
Cost & Expenses	$2.8B
OPERATING INCOME	$2.8B
Interest Income	$48M
Interest Expense	$52M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$910M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$148M
EBIT	$2.8B
EBITDA	$3.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$148M
Stock-Based Compensation	-$22M
Deferred Income Tax	$248M
Other Non-Cash Items	-$170M
Change in Working Capital	-$439M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$151M
Acquisitions (Net)	-$498M
Purchases of Investments	-$329M
Sales/Maturities of Investments	$407M
Other Investing Activities	-$70M
NET CASH FROM INVESTING	-$641M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$79M
Other Financing Activities	$98M
NET CASH FROM FINANCING	$19M
FREE CASH FLOW	$1.5B
Net Change in Cash	$1.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.1B
Short-Term Investments	$1.1B
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$794M
TOTAL CURRENT ASSETS	$6.5B
PP&E (Net)	$439M
Goodwill	$677M
Intangible Assets	$530M
Long-Term Investments	$142M
Tax Assets	$5M
Other Non-Current Assets	$590M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$8.8B
Account Payables	$908M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$920M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$74M
Other Non-Current Liabilities	$404M
TOTAL NON-CURRENT LIABILITIES	$478M
TOTAL LIABILITIES	$3.6B
Common Stock	$0
Additional Paid-In Capital	$3.4B
Retained Earnings	$2.9B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	$95M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$11M
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$8.8B
Total Debt	$0
Net Debt	-$3.1B