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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
U.S. and Non-U.S. Income Before Income Tax | The Company’s income before taxes by fiscal year consisted of the following:
| For the Years Ended September 30,
| 2022 |  | 2021 |  | 2020
| (in millions)
U.S. | $ | 11,051 |  |  | $ | 11,002 |  |  | $ | 9,178 |
Non-U.S. | 7,085 |  |  | 5,061 |  |  | 4,612 |
Total income before taxes | $ | 18,136 |  |  | $ | 16,063 |  |  | $ | 13,790 |
Comprehensive Income Tax (Expense) Benefit Components Table | Income tax provision by fiscal year consisted of the following:
| For the Years Ended September 30,
| 2022 |  | 2021 |  | 2020
| (in millions)
Current: |  |  |  |  |
U.S. federal | $ | 2,166 |  |  | $ | 1,943 |  |  | $ | 1,662 |
State and local | 104 |  |  | 69 |  |  | 212 |
Non-U.S. | 1,245 |  |  | 869 |  |  | 743 |
Total current taxes | 3,515 |  |  | 2,881 |  |  | 2,617 |
Deferred: |  |  |  |  |
U.S. federal | (231) |  |  | (57) |  |  | 42 |
State and local | (77) |  |  | (28) |  |  | 9 |
Non-U.S. | (28) |  |  | 956 |  |  | 256 |
Total deferred taxes | (336) |  |  | 871 |  |  | 307 |
Total income tax provision | $ | 3,179 |  |  | $ | 3,752 |  |  | $ | 2,924 |
Components of Deferred Tax Assets and Liabilities | The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities, are presented below:
| September 30,
| 2022 |  | 2021
| (in millions)
Deferred Tax Assets: |  |  |
Accrued compensation and benefits | $ | 172 |  |  | $ | 166 |
Accrued litigation obligation | 331 |  |  | 234 |
Client incentives | 442 |  |  | 327 |
Net operating loss carryforwards | 117 |  |  | 104 |
Comprehensive loss | 21 |  |  | 106 |
Federal benefit of state taxes | 133 |  |  | 157 |
Other | 71 |  |  | 55 |
Valuation allowance | (120) |  |  | (103) |
Deferred tax assets | 1,167 |  |  | 1,046 |
Deferred Tax Liabilities: |  |  |
Property, equipment and technology, net | (450) |  |  | (346) |
Intangible assets | (5,788) |  |  | (6,452) |
Unrealized gains on equity securities | (124) |  |  | (203) |
Foreign taxes | (50) |  |  | (93) |
Deferred tax liabilities | (6,412) |  |  | (7,094) |
Net deferred tax liabilities | $ | (5,245) |  |  | $ | (6,048) |
Reconciliation of the US Statutory Federal Tax Rate | The income tax provision differs from the amount of income tax determined by applying the applicable U.S. federal statutory rate to pretax income, as a result of the following:
| For the Years Ended September 30,
| 2022 |  | 2021 |  | 2020
| (in millions, except percentages)
U.S. federal income tax at statutory rate | $ | 3,809 |  |  | 21 | % |  | $ | 3,373 |  |  | 21 | % |  | $ | 2,896 |  |  | 21 | %
State income taxes, net of federal benefit | 216 |  |  | 1 | % |  | 222 |  |  | 1 | % |  | 199 |  |  | 2 | %
Non-U.S. tax effect, net of federal benefit | (588) |  |  | (3 | %) |  | (505) |  |  | (3 | %) |  | (483) |  |  | (4 | %)
Remeasurement of deferred tax balances | — |  |  | — | % |  | 1,007 |  |  | 6 | % |  | 329 |  |  | 2 | %
Conclusion of audits | — |  |  | — | % |  | (255) |  |  | (2 | %) |  | — |  |  | — | %
State tax apportionment position | (176) |  |  | (1 | %) |  | — |  |  | — | % |  | — |  |  | — | %
Other, net | (82) |  |  | — | % |  | (90) |  |  | — | % |  | (17) |  |  | — | %
Income tax provision | $ | 3,179 |  |  | 18 | % |  | $ | 3,752 |  |  | 23 | % |  | $ | 2,924 |  |  | 21 | %
Unrecognized Tax Benefits Reconciliation, Table | A reconciliation of beginning and ending unrecognized tax benefits by fiscal year is as follows:
| 2022 |  | 2021 |  | 2020
| (in millions)
Balance at beginning of period | $ | 2,488 |  |  | $ | 2,579 |  |  | $ | 2,234 |
Increases of unrecognized tax benefits related to prior years | 10 |  |  | 34 |  |  | 66 |
Decreases of unrecognized tax benefits related to prior years | (143) |  |  | (386) |  |  | (83) |
Increases of unrecognized tax benefits related to current year | 350 |  |  | 326 |  |  | 376 |
Decreases related to settlements with taxing authorities | (19) |  |  | (63) |  |  | (12) |
Reductions related to lapsing statute of limitations | (3) |  |  | (2) |  |  | (2) |
Balance at end of period | $ | 2,683 |  |  | $ | 2,488 |  |  | $ | 2,579 |

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