IMGCAP(1)]
In a recent 8K filing with the U.S. Securities and Exchange Commission, MasterCard Inc. says it will modify the way it presents details of the company's major revenue categories included within the Management's Discussion and Analysis of Financial Condition and Results of Operations section in future filings. Categories include domestic assessments, cross-border volume fees, transaction-processing fees, other revenues, and rebates and incentives. "Our intent is to better align the information with the way in which management views the underlying drivers of the business and analyzes the company's results of operations," a MasterCard spokesperson tells CardLine in an e-mail. "It's important to note that the modifications to the presentation within the MD&A of the detail of the company's revenue categories will not result in any changes to our historical financial statements and will have no effect on the overall calculation of net revenue presented in future financial statements." MasterCard also will reclassify certain cardholder-related enhancement expenses, such as advertising and marketing expenses. They now will be included in general and administrative expenses. The reclassification will not affect its overall operating expenses.
