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Pension, Postretirement and Other Benefits (Tables)
12 Months Ended
Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]  
Change in Benefit Obligation
Reconciliation of pension benefit obligations, plan assets, funded status and amounts recognized in the Company’s consolidated balance sheets:
 
U.S. Plans
 
Non-U.S. Plans
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Change in Pension Benefit Obligation:
 
 
 
 
 
 
 
Benefit obligation—beginning of fiscal year
$
913

 
$
1,072

 
$
433

 
$
474

Service cost

 

 
4

 
6

Interest cost
32

 
36

 
12

 
11

Actuarial loss (gain)
(38
)
 
(58
)
 
24

 
(52
)
Benefit payments
(63
)
 
(137
)
 
(9
)
 
(14
)
Foreign currency exchange rate changes

 

 
(12
)
 
8

Benefit obligation—end of fiscal year
$
844

 
$
913

 
$
452

 
$
433

Accumulated benefit obligation
$
844

 
$
913

 
$
452

 
$
433

Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets—beginning of fiscal year
$
1,074

 
$
1,077

 
$
433

 
$
415

Actual return on plan assets
78

 
125

 
13

 
17

Company contribution
1

 
9

 
11

 
5

Benefit payments
(63
)
 
(137
)
 
(9
)
 
(14
)
Foreign currency exchange rate changes

 

 
(12
)
 
10

Fair value of plan assets—end of fiscal year
$
1,090

 
$
1,074

 
$
436

 
$
433

Funded status at end of fiscal year
$
246

 
$
161

 
$
(16
)
 
$

Recognized in Consolidated Balance Sheets:
 
 
 
 
 
 
 
Non-current asset
$
252

 
$
168

 
$

 
$
5

Current liability
(1
)
 
(1
)
 
(10
)
 
(5
)
Non-current liability
(5
)
 
(6
)
 
(6
)
 

Funded status at end of fiscal year
$
246

 
$
161

 
$
(16
)
 
$

Amounts recognized in accumulated other comprehensive income before tax
Amounts recognized in accumulated other comprehensive income before tax: 
 
U.S. Plans
 
Non-U.S. Plans
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Net actuarial loss
$
47

 
$
97

 
$
39

 
$
9

Benefit obligations in excess of plan assets related to the Company's U.S. non-qualified plan and the non-U.S. pension plans
Benefit obligations in excess of plan assets related to the Company’s U.S. non-qualified plan and the non-U.S. pension plans(1) :
 
U.S. Plans
 
Non-U.S. Plans
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Accumulated benefit obligation in excess of plan assets
 
 
 
 
 
 
 
Accumulated benefit obligation—end of year
$
(6
)
 
$
(7
)
 
$
(452
)
 
$
(5
)
Fair value of plan assets—end of year
$

 
$

 
$
436

 
$

Projected benefit obligation in excess of plan assets
 
 
 
 
 
 
 
Benefit obligation—end of year
$
(6
)
 
$
(7
)
 
$
(452
)
 
$
(5
)
Fair value of plan assets—end of year
$

 
$

 
$
436

 
$


Net periodic pension and other postretirement plan cost
Net periodic pension cost:
 
U.S. Plans
 
Non-U.S. Plans(1)
 
For the Years Ended September 30,
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
(in millions)
Service cost
$

 
$

 
$
13

 
$
4

 
$
6

 
$
1

Interest cost
32

 
36

 
40

 
12

 
11

 
3

Expected return on assets
(70
)
 
(70
)
 
(69
)
 
(20
)
 
(16
)
 
(4
)
Amortization of prior service credit

 

 
(1
)
 

 

 

Amortization of actuarial loss

 
15

 
7

 

 
2

 

Curtailment gain

 

 
(8
)
 

 

 

Settlement loss
3

 
15

 
13

 

 

 

Total net periodic benefit cost
$
(35
)
 
$
(4
)
 
$
(5
)
 
$
(4
)
 
$
3

 
$

 
(1) 
For fiscal 2016, the amounts represent the Visa Europe plans’ net pension benefit cost recognized from the Closing through September 30, 2016.
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Other changes in plan assets and benefit obligations recognized in other comprehensive income: 
 
U.S. Plans
 
Non-U.S. Plans
 
For the Years Ended September 30,
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
(in millions)
Current year actuarial loss (gain)
$
(47
)
 
$
(113
)
 
$
30

 
$
30

 
$
(53
)
 
$
66

Amortization of actuarial (loss) gain
(3
)
 
(30
)
 
(20
)
 

 
(2
)
 

Amortization of prior service credit

 

 
9

 

 

 

Total recognized in other comprehensive income
$
(50
)
 
$
(143
)
 
$
19

 
$
30

 
$
(55
)
 
$
66

Total recognized in net periodic benefit cost and other comprehensive income
$
(85
)
 
$
(147
)
 
$
14

 
$
26

 
$
(52
)
 
$
66

Weighted Average Actuarial Assumptions
Weighted-Average Actuarial Assumptions:
 
U.S. Plans
 
Non-U.S. Plans
 
For the Years Ended September 30,
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Discount rate(1) for benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Pension
4.23
%
 
3.84
%
 
3.62
%
 
2.90
%
 
2.70
%
 
2.40
%
Discount rate for net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Pension
3.84
%
 
3.62
%
 
4.33
%
 
2.70
%
 
2.40
%
 
3.10
%
Expected long-term rate of return on plan assets(2)
7.00
%
 
7.00
%
 
7.00
%
 
4.25
%
 
4.50
%
 
3.92
%
Rate of increase(3) in compensation levels for:
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation
NA

 
NA

 
NA

 
3.20
%
 
3.20
%
 
3.20
%
Net periodic benefit cost
NA

 
NA

 
NA

 
3.20
%
 
3.20
%
 
3.00
%
(1) 
Represents a single weighted-average discount rate derived based on a cash flow matching analysis, with the projected benefit payments matching spot rates from a yield curve developed from high-quality corporate bonds.
(2) 
Primarily based on the targeted allocation, and evaluated for reasonableness by considering such factors as: (i) actual return on plan assets; (ii) historical rates of return on various asset classes in the portfolio; (iii) projections of returns on various asset classes; and (iv) current and prospective capital market conditions and economic forecasts.
(3) 
This assumption is not applicable for the U.S. plans due to the amendment of the U.S. qualified defined benefit pension plan in October 2015, which discontinued the employer provided credits effective after December 31, 2015.
Employer contribution cash flows
Cash Flows
 
U.S. Plans
 
Non-U.S. Plans
Actual employer contributions
(in millions)
2018
$
1

 
$
11

2017
9

 
5

Expected employer contributions
 
 
 
2019
1

 
10

Expected benefit payments
 
 
 
2019
150

 
5

2020
73

 
5

2021
70

 
5

2022
67

 
5

2023
64

 
5

2024-2028
284

 
28

U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Pension plan investments at fair value
The following tables set forth by level, within the fair value hierarchy, the pension plan’s investments at fair value as of September 30, 2018 and 2017, including the impact of transactions that were not settled at the end of September:
 
U.S. Plans
 
Fair Value Measurements at September 30 Using Inputs Considered as
 
Level 1
 
Level 2
 
Level 3
 
Total
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Cash equivalents
$
65

 
$
31

 
 
 
 
 
 
 
 
 
$
65

 
$
31

Collective investment funds
 
 
 
 
571

 
540

 
 
 
 
 
571

 
540

Corporate debt securities
 
 
 
 
187

 
197

 
 
 
 
 
187

 
197

U.S. government-sponsored debt securities
 
 
 
 
30

 
47

 
 
 
 
 
30

 
47

U.S. Treasury securities
62

 
75

 
 
 
 
 
 
 
 
 
62

 
75

Asset-backed securities
 
 
 
 
 
 
 
 
34

 
39

 
34

 
39

Equity securities
141

 
145

 
 
 
 
 
 
 
 
 
141

 
145

Total
$
268

 
$
251

 
$
788

 
$
784

 
$
34

 
$
39

 
$
1,090

 
$
1,074

Non-U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Pension plan investments at fair value
 
Non-U.S. Plans
 
Fair Value Measurements at September 30 Using Inputs Considered as
 
Level 1
 
Level 2
 
Level 3
 
Total
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Cash equivalents
$
6

 
$
1

 
 
 
 
 
 
 
 
 
$
6

 
$
1

Corporate debt securities
 
 
 
 

 
39

 
 
 
 
 

 
39

UK Treasury securities

 
150

 
 
 
 
 
 
 
 
 

 
150

Asset-backed securities
 
 
 
 
 
 
 
 
33

 
32

 
33

 
32

Equity securities
68

 
134

 
 
 
 
 
 
 
 
 
68

 
134

Multi-asset securities (1)
 
 
 
 
329

 
77

 
 
 
 
 
329

 
77

Total
$
74

 
$
285

 
$
329

 
$
116

 
$
33

 
$
32

 
$
436

 
$
433

(1) 
Multi-asset securities represent pension plan assets that are invested in funds comprised of broad ranges of assets.