Fiscal Second Quarter 2023 Financial Results
Free Cash Flow
Cash, cash equivalents and investment securities were $19.4 billion as of March 31, 2023.
(in millions)
Calculation of Free Cash Flow
Net cash provided by operating activities
Less: capital expenditures
Free cash flow(1)
(1) Free Cash Flow is cash provided by operating activities adjusted to reflect capital investments made in the business.
(in millions)
Returns to Shareholders
Share repurchases (²)
Dividends
Q2 2023
Fiscal Second Quarter 2023 Financial Results
$3,860
(210)
$3,650
Q2 2023
$2,215
$941
Q2 2023 YTD
$8,031
(459)
$7,572
Q2 2023 YTD
$5,310
$1,886
(2) Share repurchases include applicable taxes.
Note: Management believes that this presentation is useful to measure Visa's generation of cash available to first re-invest in the business, and then return excess cash to shareholders through share repurchases and cash dividends.
Ⓒ2023 Visa. All rights reserved.
VISA
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