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Share-based Compensation (Tables)

12 Months Ended

Sep. 30, 2016

Share-based Compensation [Abstract]

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used

During fiscal 2016, 2015 and 2014, the fair value of each stock option was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

		2016				2015				2014
Expected term (in years)(1)		4.35				4.55				4.80
Risk-free rate of return(2)		1.5		%		1.5		%		1.3		%
Expected volatility(3)		21.7		%		22.0		%		25.2		%
Expected dividend yield(4)		0.7		%		0.8		%		0.8		%
Fair value per option granted		$	15.01			$	12.04			$	11.03

⁽¹⁾  This assumption is based on the Company's historical option exercises and those of a set of peer companies that management believes is generally comparable to Visa. The Company's data is weighted based on the number of years between the measurement date and Visa's initial public offering as a percentage of the options' contractual term. The relative weighting placed on Visa's data and peer data in fiscal 2016 was approximately 77% and 23%, respectively, 67% and 33% in fiscal 2015, respectively, and 58% and 42% in fiscal 2014, respectively.

⁽²⁾  Based upon the zero coupon U.S. treasury bond rate over the expected term of the awards.

⁽³⁾  Based on the Company’s implied and historical volatility. The expected volatilities ranged from 20% to 23% in fiscal 2016, 21% to 23% in fiscal 2015, and 22% to 26% in fiscal 2014.

⁽⁴⁾  Based on the Company’s annual dividend rate on the date of grant.

Schedule of Share-based Compensation, Options Activity

The following table summarizes the Company’s option activity for fiscal 2016:

	Options			Weighted- Average Exercise Price Per Share				Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (1) (in millions)
Outstanding at October 1, 2015	9,677,717			$	28.07
Granted	1,438,048			$	79.98
Forfeited	(463,378	)		$	21.76
Exercised	(1,775,903	)		$	20.00
Outstanding at September 30, 2016	8,876,484			$	38.42			5.2		$393
Options exercisable at September 30, 2016	6,204,589			$	24.87			3.8		$359
Options exercisable and expected to vest at September 30, 2016(2)	8,582,576			$	37.35			5.1		$389

⁽¹⁾  Calculated using the closing stock price on the last trading day of fiscal 2016 of $82.70, less the option exercise price, multiplied by the number of instruments.

⁽²⁾  Applies a forfeiture rate to unvested options outstanding at September 30, 2016 to estimate the options expected to vest in the future.

Restricted Share Activity Disclosure

The following table summarizes the Company's RSA and RSU activity for fiscal 2016:

	Restricted Stock						Weighted- Average Grant Date Fair Value								Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (1) (in millions)
	Awards			Units			RSA				RSU				RSA		RSU		RSA		RSU
Outstanding at October 1, 2015	4,064,687			1,442,522			$	54.09			$	53.80
Granted	—			2,735,115			$	—			$	79.77
Vested	(2,061,406	)		(789,180	)		$	49.06			$	51.58
Forfeited	(236,699	)		(241,503	)		$	59.34			$	73.02
Outstanding at September 30, 2016	1,766,582			3,146,954			$	59.26			$	75.48			0.8		1.7		$146		$260

⁽¹⁾  Calculated by multiplying the closing stock price on the last trading day of fiscal 2016 of $82.70 by the number of instruments.

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table summarizes the maximum number of performance-based shares which could be earned and related activity for fiscal 2016:

	Shares			Weighted- Average Grant Date Fair Value				Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (1) (in millions)
Outstanding at October 1, 2015	1,263,962			$	57.61
Granted(2)	604,219			$	92.71
Vested and earned	(645,320	)		$	54.59
Unearned	(123,387	)		$	54.59
Forfeited	(57,462	)		$	73.07
Outstanding at September 30, 2016	1,042,012			$	78.24			0.9		$86

⁽¹⁾  Calculated by multiplying the closing stock price on the last trading day of fiscal 2016 of $82.70 by the number of instruments.

⁽²⁾  Represents the maximum number of performance-based shares which could be earned.

X

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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Restricted Share Activity Disclosure.

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Schedule of Share-based Compensation, Options Activity.

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For each plan, identification of the award pricing model or other valuation method used in calculating the weighted average fair values disclosed. The model is also used to calculate the compensation expense that is shown within the balance sheet, income statement, and cash flow. Examples of valuation techniques are lattice models (binomial model), closed-form models (Black-Scholes-Merton formula), and a Monte Carlo simulation technique. Fair value is the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale. May include disclosures about the assumptions underlying application of the method selected.

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