01—Abstract
Summary
Summary of the 10-K/A filed November 23, 2011. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to Mastercard Inc.'s 2010 Annual Report, primarily addressing the re-filing of specific exhibits (10.33 and 10.34) related to litigation settlements.
It does not introduce new financial data or events occurring after the original filing date of February 24, 2011. Investors should note that the core financial performance and strategic information for the fiscal year ended December 31, 2010, are contained within the original 10-K filing and not this amendment. The amendment's purpose is administrative, to comply with SEC comments regarding confidential treatment requests for certain settlement agreements.
These agreements, dated February 7, 2011, pertain to interchange and judgment sharing with Visa and customer banks. While the amendment itself doesn't provide operational insights, understanding these settlement agreements may be relevant for assessing long-term legal and financial contingencies, though their impact is primarily reflected in prior periods' financial statements.
02—Key points
Key Highlights
- This document is an Amendment No. 1 to the 10-K filing for the fiscal year ended December 31, 2010.
- The amendment's sole purpose is to re-file Exhibits 10.33 and 10.34 due to SEC comments on confidential treatment requests.
- Exhibits 10.33 and 10.34 concern Omnibus Agreements Regarding Interchange Litigation Judgment Sharing and Settlement Sharing, and a MasterCard Settlement and Judgment Sharing Agreement, both dated February 7, 2011.
- The amendment does not introduce new financial results or events occurring after the original filing date of February 24, 2011.
- Mastercard Inc. is a large accelerated filer, indicating significant public float and market capitalization.
- The filing confirms the aggregate market value of Class A common stock held by non-affiliates as approximately $23.7 billion as of June 30, 2010.
- Key executive employment agreements and various compensation plans are listed as incorporated exhibits, providing insight into management structure and incentives.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2010filed November 23, 2011Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Revenue | $5.54B$5.10B | +8.6% |
| Operating Expenses | $2.79B$2.84B | −1.8% |
| Operating Income | $2.75B$2.26B | +21.8% |
| Interest Expense | $52.00M$115.00M | −54.8% |
| Net Income | $1.85B$1.46B | +26.2% |
| EPS (Basic) | $1.41$1.12 | +26.0% |
| EPS (Diluted) | $1.41$1.12 | +25.9% |
| Shares Outstanding (Basic) | 1.31B1.30B | +0.8% |
| Shares Outstanding (Diluted) | 1.31B1.30B | +0.8% |
05—Questions
Frequently Asked Questions
What is the main reason for this Amendment No. 1 filing?
The primary reason for this amendment is to re-file Exhibits 10.33 and 10.34 of the original 10-K filing in response to comments received from the SEC regarding confidential treatment requests for certain portions of these exhibits. These exhibits relate to settlement agreements concerning interchange litigation and judgment sharing.
Does this amendment contain updated financial performance data for Mastercard for 2010?
No, this amendment does not contain updated financial performance data or reflect any events that occurred after the original filing of the 2010 Annual Report on February 24, 2011. Its purpose is purely administrative regarding specific exhibits.
What do Exhibits 10.33 and 10.34 pertain to?
Exhibits 10.33 and 10.34 relate to significant settlement agreements entered into by Mastercard. Specifically, they are an 'Omnibus Agreement Regarding Interchange Litigation Judgment Sharing and Settlement Sharing' and a 'MasterCard Settlement and Judgment Sharing Agreement,' both dated February 7, 2011, involving Visa and Mastercard's customer banks.
Where can I find the actual financial results for Mastercard for the fiscal year ended December 31, 2010?
The actual financial results and comprehensive information for the fiscal year ended December 31, 2010, are located in the original Form 10-K filed by Mastercard Inc. on February 24, 2011. This amendment should be read in conjunction with that original filing.
06—Continue