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Pension and Other Postretirement Benefits | 12 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefits | Note 11—Pension and Other Postretirement Benefits Defined Benefit and Other Postretirement Plans The Company sponsors qualified and non-qualified defined benefit pension and other postretirement benefit plans that provide for retirement and medical benefits for eligible employees residing in the U.S. The Company also sponsors other pension benefit plans that provide benefits for eligible internationally-based employees at certain non-U.S. locations. The Company’s defined benefit pension plans are actuarially evaluated, incorporating various assumptions such as the discount rate and the expected rate of return on plan assets. Disclosures below include the U.S. pension plans and certain non-U.S. pension plans. The Company uses a September 30 measurement date for its pension plans. The U.S. pension plans are closed to new entrants and frozen. However, plan participants continue to earn interest credits on existing balances at the time of the freeze. In June 2025, the U.S. qualified defined benefit pension plan was amended to terminate effective September 30, 2025. The termination of the plan, which is subject to applicable regulatory approvals, would not result in a reduction of benefits for plan participants. Upon the settlement of pension obligation under the plan, which is currently expected in 2027, the Company will be fully relieved of all obligations under the plan, and a settlement gain or loss will be recognized on the consolidated statements of operations. The Visa Europe plans are closed to new entrants. However, future benefits continue to accrue for active participants. The funded status of the Company’s defined benefit pension plans is substantially recorded in other assets on the consolidated balance sheets and is measured as the difference between the fair value of plan assets and the accumulated benefit obligation. As of September 30, 2025 and 2024, for the U.S. pension plans, the fair value of plan assets was $1.2 billion for both periods, accumulated benefit obligation was $643 million and $670 million, respectively, and the funded status was $570 million and $531 million, respectively. As of September 30, 2025 and 2024, for non-U.S. pension plans, the fair value of plan assets was $330 million and $370 million, respectively, accumulated benefit obligation was $276 million and $302 million, respectively, and the funded status was $54 million and $68 million, respectively. As of September 30, 2025 and 2024, the amount included in accumulated other comprehensive income (loss) before tax for the U.S. pension plans was $56 million for both periods. As of September 30, 2025 and 2024, the amount included in accumulated other comprehensive income (loss) before tax for non-U.S. pension plans was ($65) million and ($48) million, respectively. Defined Contribution Plan The Company sponsors a defined contribution plan, or 401(k) plan, that covers its employees residing in the U.S. In fiscal 2025, 2024 and 2023, personnel expenses included $220 million, $212 million, and $192 million, respectively, attributable to the Company’s employees under the 401(k) plan. The Company’s contributions to this 401(k) plan are funded on a current basis, and the related expenses are recognized in the period that the personnel expenses are incurred.

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