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Stockholders' Equity | 6 Months Ended
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Mar. 31, 2026
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Note 11—Stockholders’ Equity As-converted class A common stock. The number of shares outstanding and the number of shares of class A common stock on an as-converted basis were as follows:
| March 31, 2026 |  | September 30, 2025 |
| 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 |  |  | 7 |  |  | — |  | (2) | 100.0000 |  |  | 8 |  |
Series B preferred stock | 2 |  |  | 0.5960 |  |  | 1 |  |  | 2 |  |  | 0.6690 |  |  | 2 |  |
Series C preferred stock | 3 |  |  | 0.7170 |  |  | 2 |  |  | 3 |  |  | 0.7640 |  |  | 2 |  |
Class A common stock | 1,660 |  |  | — |  |  | 1,660 |  |  | 1,691 |  |  | — |  |  | 1,691 |  |
Class B-1 common stock | 5 |  |  | 1.5475 |  | (3) | 7 |  |  | 5 |  |  | 1.5549 |  | (3) | 8 |  |
Class B-2 common stock | 120 |  |  | 1.5075 |  | (3) | 181 |  |  | 120 |  |  | 1.5223 |  | (3) | 183 |  |
Class C common stock | 9 |  |  | 4.0000 |  |  | 36 |  |  | 9 |  |  | 4.0000 |  |  | 36 |  |
Total |  |  |  |  | 1,894 |  |  |  |  |  |  | 1,930 |  |
(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)The class B-1 and class B-2 to class A common stock conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal. Conversion rates are presented on a rounded basis. Reduction in as-converted shares. The following table presents the reduction in the number of as-converted class B-1 and B-2 common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
| Six Months Ended March 31,
| 2026 |  | 2025
| (in millions, except per share data)
Reduction in equivalent number of class A common stock | 2 |  |  | 1 |
Effective price per share(1) | $ | 345.17 |  |  | $ | 346.79 |
Deposits into the U.S. litigation escrow account | $ | 625 |  |  | $ | 375 |
(1)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment 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 recovery of VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
| Six Months Ended March 31, 2026 |  | Six Months Ended March 31, 2025 |
| Series B |  | Series C |  | Series B |  | Series 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) | $ | 330.96 |  |  | $ | 330.96 |  |  | $ | 312.39 |  |  | $ | 312.39 |  |
Recovery through conversion rate adjustments | $ | 60 |  |  | $ | 49 |  |  | $ | 5 |  |  | $ | 3 |  |
(1)The reduction in equivalent number of class A common stock was less than one million shares. (2)Effective price per share for each adjustment 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,
| 2026 |  | 2025 |  | 2026 |  | 2025
| (in millions, except per share data)
Shares repurchased in the open market(1) | 25 |  |  | 13 |  |  | 36 |  |  | 26 |
Average repurchase cost per share(2) | $ | 320.66 |  |  | $ | 340.26 |  |  | $ | 327.29 |  |  | $ | 320.47 |
Total cost(2) | $ | 7,894 |  |  | $ | 4,473 |  |  | $ | 11,659 |  |  | $ | 8,413 |
(1)Shares repurchased in the open market are 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. As of March 31, 2026 and 2025, shares repurchased in the open market include unsettled repurchases of $125 million and $61 million, respectively. In April 2025, the Company’s board of directors authorized a $30.0 billion share repurchase program, providing multi-year flexibility. As of March 31, 2026, the Company’s share repurchase program had remaining authorized funds of $13.2 billion. All share repurchase programs authorized prior to April 2025 have been completed. In April 2026, the Company’s board of directors authorized a new $20.0 billion share repurchase program, providing multi-year flexibility. These authorizations have no expiration date. Dividends. For the three months ended March 31, 2026 and 2025, the Company declared and paid dividends of $1,286 million and $1,164 million, respectively. For the six months ended March 31, 2026 and 2025, the Company declared and paid dividends of $2.6 billion and $2.3 billion, respectively. On April 28, 2026, the Company’s board of directors declared a quarterly cash dividend of $0.67 per share of class A common stock (determined in the case of all other outstanding common and preferred stock on an as-converted basis), payable on June 1, 2026 to all holders of record as of May 12, 2026

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