V · 8-K · 20260428PR000077

Litigation Provision and Escrow

VISA INC. · 2026-04-28 · Importance 78 · Surprise 100 · No source text

The company recorded a special litigation provision of $311 million in the quarter related to the interchange multidistrict litigation (MDL) and other legal matters, compared with $992 million in the prior-year quarter.,Accrued litigation on the balance sheet declined (accrued litigation $981 million at March 31, 2026 versus $3,033 million at September 30, 2025), reflecting lower outstanding accruals versus the prior period.,On February 26, 2026 Visa deposited $125 million into its U.S. litigation escrow account established under the retrospective responsibility plan, an action the company notes has the same economic effect on EPS as repurchasing class A common stock at a $312.44 VWAP.

Key facts

• Accrued litigation on the consolidated balance sheet as of March 31, 2026: $981 million (down from $3,033 million as of September 30, 2025) source
• Restricted cash equivalents—U.S. litigation escrow as of March 31, 2026: $665 million (down from $2,990 million as of September 30, 2025) source
• On February 26, 2026 Visa deposited $125 million into its litigation escrow account source
• Prior-year Q2 2025 included a litigation provision of $992 million for the MDL case source
• Litigation provision recorded in the three months ended March 31, 2026: $329 million (table figure) and $311 million referenced as special item in narrative source
• The $125 million escrow deposit reduced each of the as-converted class B-1 and class B-2 common stock share counts at a volume-weighted average price of $312.44 source

Impact estimates