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Income Taxes (Tables)

12 Months Ended

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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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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