Fiscal 2013 | Fiscal 2012 | ||||||
(in millions) | |||||||
Balance at October 1 | $ | 4,386 | $ | 425 | |||
Provision for unsettled legal matters | 3 | 4,100 | |||||
Interest accretion on settled matters | — | 1 | |||||
Payments on unsettled matters(1) | (4,033 | ) | — | ||||
Payments on settled matters | (351 | ) | (140 | ) | |||
Balance at September 30 | $ | 5 | $ | 4,386 | |||
(1) | On December 10, 2012, the Company paid approximately $4.0 billion from the litigation escrow account into a settlement fund established pursuant to the definitive class settlement agreement in the interchange multidistrict litigation. The settlement with the class plaintiffs is subject to final court approval, which the Company cannot assure will be received, and to the adjudication of any appeals. See further discussion below. |