Last week, MasterCard filed its most recent 10-Q report with the SEC. It includes some additional information on the merchant settlement.
For the first quarter of 2003, MasterCard reported revenues of slightly over $500 MM as compared to $392 MM the year earlier. MasterCard’s net income would have been about $50 MM for the quarter except for the settlement costs charged in the quarter of $721 MM.
As part of it’s 10-Q filing, MasterCard also filed a revised Executive Incentive Plan.