Supplemental Cash Flows
The following table includes supplemental cash flow disclosures for each of the years ended December 31:
|
| | | | | | | | | | | |
| 2013 | | 2012 | | 2011 |
| (in millions) |
Cash paid for income taxes, net of refunds | $ | 1,215 |
| | $ | 1,046 |
| | $ | 908 |
|
Cash paid for interest | 2 |
| | — |
| | — |
|
Cash paid for legal settlements1 | — |
| | 65 |
| | 303 |
|
Non-cash investing and financing activities: | | | | | |
Dividends declared but not yet paid | 131 |
| | 37 |
| | 19 |
|
Assets recorded pursuant to capital lease | 7 |
| | 11 |
| | 14 |
|
Fair value of assets acquired, net of cash acquired | — |
| | 73 |
| | 549 |
|
Fair value of liabilities assumed related to acquisitions | — |
| | 3 |
| | 89 |
|
| | | | | |
1 Amounts in 2012 primarily represent payments under settlement agreements related to the U.S. merchant litigations. Amounts paid into escrow related to the U.S. merchant class litigation is not included in this table. Amounts in 2011 primarily represent payments under a settlement agreement relating to the U.S. federal antitrust litigation between MasterCard and American Express Company. Under the terms of the American Express Settlement, MasterCard made 12 quarterly payments of $150 million beginning in the third quarter of 2008. The Company made its final quarterly payment of $150 million in June 2011.
