Prepaid Expenses and Other Assets

9 Months Ended

Sep. 30, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Assets

Prepaid Expenses and Other Assets

Prepaid expenses and other current assets consisted of the following:

	September 30, 2015		December 31, 2014
	(in millions)
Customer and merchant incentives	$	347	$	260
Prepaid income taxes	273		237
Other	223		174
Total prepaid expenses and other current assets	$	843	$	671

Other assets consisted of the following:

	September 30, 2015		December 31, 2014
	(in millions)
Customer and merchant incentives	$	746	$	556
Nonmarketable equity investments	234		245
Prepaid income taxes	368		407
Income taxes receivable	174		89
Other	97		88
Total other assets	$	1,619	$	1,385

Customer and merchant incentives represent payments made or amounts to be paid to customers and merchants under business agreements. Costs directly related to entering into such an agreement are generally deferred and amortized over the life of the agreement. Amounts to be paid for these incentives and the related liability were included in accrued expenses and other liabilities.

Non-current prepaid income taxes, included in the other asset table above, primarily consists of taxes paid in the fourth quarter of 2014 relating to the deferred charge resulting from the reorganization of our legal entity and tax structure to better align with our business footprint of our non-U.S. operations.