Earnings Per Share

12 Months Ended

Sep. 30, 2023

Note 16—Earnings Per Share

The following table presents earnings per share for fiscal 2023:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	13,415	1,618	$	8.29	$	17,273	2,085	(3)	$	8.28
Class B common stock	3,254		245	$	13.26	$	3,251	245		$	13.24
Class C common stock	320		10	$	33.17	$	319	10		$	33.13
Participating securities	284		Not presented	Not presented		$	284	Not presented		Not presented
Net income	$	17,273

The following table presents earnings per share for fiscal 2022:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	11,569	1,651	$	7.01	$	14,957	2,136	(3)	$	7.00
Class B common stock	2,781		245	$	11.33	$	2,778	245		$	11.31
Class C common stock	280		10	$	28.03	$	280	10		$	28.00
Participating securities	327		Not presented	Not presented		$	326	Not presented		Not presented
Net income	$	14,957

The following table presents earnings per share for fiscal 2021:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	9,527	1,691	$	5.63	$	12,311	2,188	(3)	$	5.63
Class B common stock	2,244		245	$	9.14	$	2,242	245		$	9.13
Class C common stock	237		10	$	22.53	$	236	10		$	22.51
Participating securities	303		Not presented	Not presented		$	303	Not presented		Not presented
Net income	$	12,311

(1)The weighted-average number of shares of as-converted class B common stock used in the income allocation was 392 million, 397 million and 398 million for fiscal 2023, 2022 and 2021, respectively. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 39 million, 40 million and 42 million for fiscal 2023, 2022 and 2021, respectively. The weighted-average number of shares of preferred stock included within participating securities was 10 million, 8 million and 12 million of as-converted series A preferred stock for fiscal 2023, 2022 and 2021, respectively, 7 million, 14 million and 16 million of as-converted series B preferred stock for fiscal 2023, 2022 and 2021, respectively, and 11 million, 20 million and 22 million of as-converted series C preferred stock for fiscal 2023, 2022 and 2021, respectively.

(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.

(3)Weighted-average diluted shares outstanding are calculated on an as-converted basis, and include incremental common stock equivalents, as calculated under the treasury stock method. The common stock equivalents are not material for each of fiscal 2023, 2022 and 2021.