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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
U.S. and Non-U.S. Income Before Income Tax | The Company’s income before income taxes by fiscal year consisted of the following:
| For the Years Ended September 30,
| 2024 |  | 2023 |  | 2022
| (in millions)
U.S. | $ | 14,537 |  |  | $ | 13,339 |  |  | $ | 11,051 |
Non-U.S. | 9,379 |  |  | 7,698 |  |  | 7,085 |
Total income before income taxes | $ | 23,916 |  |  | $ | 21,037 |  |  | $ | 18,136 |
Comprehensive Income Tax (Expense) Benefit Components Table | Income tax provision by fiscal year consisted of the following:
| For the Years Ended September 30,
| 2024 |  | 2023 |  | 2022
| (in millions)
Current: |  |  |  |  |
U.S. federal | $ | 2,694 |  |  | $ | 2,630 |  |  | $ | 2,166 |
State and local | 298 |  |  | 293 |  |  | 104 |
Non-U.S. | 1,281 |  |  | 1,324 |  |  | 1,245 |
Total current taxes | 4,273 |  |  | 4,247 |  |  | 3,515 |
Deferred: |  |  |  |  |
U.S. federal | (132) |  |  | (339) |  |  | (231) |
State and local | (18) |  |  | (1) |  |  | (77) |
Non-U.S. | 50 |  |  | (143) |  |  | (28) |
Total deferred taxes | (100) |  |  | (483) |  |  | (336) |
Total income tax provision | $ | 4,173 |  |  | $ | 3,764 |  |  | $ | 3,179 |
Components of Deferred Tax Assets and Liabilities | The following table presents the components of deferred tax assets and liabilities:
| September 30,
| 2024 |  | 2023
| (in millions)
Deferred Tax Assets: |  |  |
Accrued compensation and benefits | $ | 221 |  |  | $ | 212 |
Accrued litigation | 374 |  |  | 365 |
Client incentives | 855 |  |  | 630 |
Net operating loss carryforwards | 206 |  |  | 232 |
Comprehensive loss | 79 |  |  | 72 |
Federal benefit of state taxes | 16 |  |  | 125 |
Other | 102 |  |  | 66 |
Valuation allowance | (212) |  |  | (149) |
Deferred tax assets | 1,641 |  |  | 1,553 |
Deferred Tax Liabilities: |  |  |
Property, equipment and technology, net | (295) |  |  | (350) |
Intangible assets | (6,404) |  |  | (6,063) |
Unrealized gains on equity securities | (81) |  |  | (103) |
Foreign taxes | (22) |  |  | (25) |
Deferred tax liabilities | (6,802) |  |  | (6,541) |
Net deferred tax liabilities | $ | (5,161) |  |  | $ | (4,988) |
Reconciliation of the US Statutory Federal Tax Rate | The following table presents a reconciliation of the income tax provision to the amount of income tax determined by applying the U.S. federal statutory income tax rate to income before income taxes:
| For the Years Ended September 30,
| 2024 |  | 2023 |  | 2022
| (in millions, except percentages)
U.S. federal income tax at statutory rate | $ | 5,022 |  |  | 21 | % |  | $ | 4,418 |  |  | 21 | % |  | $ | 3,809 |  |  | 21 | %
State income taxes, net of federal benefit | 258 |  |  | 1 | % |  | 245 |  |  | 1 | % |  | 216 |  |  | 1 | %
Non-U.S. tax effect, net of federal benefit | (828) |  |  | (4 | %) |  | (758) |  |  | (3 | %) |  | (588) |  |  | (3 | %)
Reassessment of an uncertain tax position | — |  |  | — | % |  | (142) |  |  | (1 | %) |  | — |  |  | — | %
Conclusion of audits | (223) |  |  | (1 | %) |  | — |  |  | — | % |  | — |  |  | — | %
State tax apportionment position | — |  |  | — | % |  | — |  |  | — | % |  | (176) |  |  | (1 | %)
Other, net | (56) |  |  | — | % |  | 1 |  |  | — | % |  | (82) |  |  | — | %
Income tax provision | $ | 4,173 |  |  | 17 | % |  | $ | 3,764 |  |  | 18 | % |  | $ | 3,179 |  |  | 18 | %
Unrecognized Tax Benefits Reconciliation, Table | The following table presents a reconciliation of beginning and ending unrecognized tax benefits by fiscal year:
| 2024 |  | 2023 |  | 2022
| (in millions)
Balance as of beginning of period | $ | 3,497 |  |  | $ | 2,683 |  |  | $ | 2,488 |
Increase in unrecognized tax benefits related to prior years | 148 |  |  | 515 |  |  | 10 |
Decrease in unrecognized tax benefits related to prior years | (322) |  |  | (190) |  |  | (143) |
Increase in unrecognized tax benefits related to current year | 556 |  |  | 510 |  |  | 350 |
Decrease related to settlements with taxing authorities | (127) |  |  | (17) |  |  | (19) |
Reduction related to lapsing statute of limitations | (2) |  |  | (4) |  |  | (3) |
Balance as of end of period | $ | 3,750 |  |  | $ | 3,497 |  |  | $ | 2,683 |

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