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Stockholders' Equity
 6 Months Ended
Mar. 31, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Note 8—Stockholders’ Equity
As-converted class A common stock. The number of shares of each series and class, and the number of shares of class A common stock on an as-converted basis, were as follows:
March 31, 2023September 30, 2022
Shares
Outstanding		Conversion Rate Into 
Class A
Common Stock
As-converted Class A
Common
Stock(1)
Shares
Outstanding		Conversion Rate Into
Class A
Common Stock
As-converted Class A
Common
Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 9 — 
(2)
100.0000 16 
Series B preferred stock2 2.9580 7 2 2.9710 7 
Series C preferred stock3 3.6340 11 3 3.6450 12 
Class A common stock(3)
1,619 — 1,619 1,635 — 1,635 
Class B common stock245 1.5991 
(4)
393 245 1.6059 
(4)
394 
Class C common stock10 4.0000 38 10 4.0000 39 
Total2,077 2,103 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)Class A common stock shares outstanding reflect repurchases that settled on or before March 31, 2023 and September 30, 2022.
(4)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Reduction in as-converted shares. The following table presents the reduction in the number of as-converted class B common stock after deposit into the U.S. litigation escrow account for the six months ended March 31, 2023 and 2022.
Six Months Ended
March 31,
20232022
(in millions, except per share data)
Reduction in equivalent number of class A common stock2 1 
Effective price per share(1)
$209.14 $217.61 
Deposits under the U.S. retrospective responsibility plan$350 $250 
(1)Effective price per share is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation.
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments:
Six Months Ended
March 31, 2023		Six Months Ended
March 31, 2022
Series BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock— 
(1)
— 
(1)
— 
(1)
— 
(1)
Effective price per share(2)
$211.34 $211.34 $201.68 $201.68 
Recovery through conversion rate adjustment
$7 $7 $26 $3 
(1)The reduction in equivalent number of shares of class A common stock was less than one million shares.
(2)Effective price per share for the quarter is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock.
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
March 31,		Six Months Ended
March 31,
2023202220232022
(in millions, except per share data)
Shares repurchased in the open market(1)
10 15 26 34 
Average repurchase cost per share(2)
$221.32 $210.18 $206.88 $210.26 
Total cost(2)
$2,216 $2,949 $5,331 $7,053 
(1)Shares repurchased in the open market reflect repurchases that settled during the three and six months ended March 31, 2023 and 2022, respectively. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase cost per share and total cost are calculated based on unrounded numbers and include applicable taxes.
In October 2022, the Company’s board of directors authorized a $12.0 billion share repurchase program. This authorization has no expiration date. As of March 31, 2023, the Company’s repurchase program had remaining authorized funds of $11.9 billion. All share repurchase programs authorized prior to October 2022 have been completed.
Dividends. The Company declared and paid dividends of $941 million and $802 million during the three months ended March 31, 2023 and 2022, respectively, and $1.9 billion and $1.6 billion during the six months ended March 31, 2023 and 2022, respectively. On April 25, 2023, the Company’s board of directors declared a quarterly cash dividend of $0.45 per share of class A common stock (determined in the case of class B and C common stock and series A, B and C preferred stock on an as-converted basis), which will be paid on June 1, 2023, to all holders of record as of May 12, 2023.