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Allowance for Doubtful Accounts | 9 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts related to deposits with and receivables from broker-dealers, clearing organizations, and counterparties was $0.0 million as of June 30, 2024 and $0.1 million as of September 30, 2023. The allowance for doubtful accounts related to receivables from clients was $56.2 million and $59.8 million as of June 30, 2024 and September 30, 2023, respectively. The Company had no allowance for doubtful accounts related to notes receivable as of June 30, 2024 and September 30, 2023. Activity in the allowance for doubtful accounts for the nine months ended June 30, 2024 was as follows:
(in millions) |
Balance as of September 30, 2023 | $ | 59.9 |
Recovery of bad debts(1) | (3.0) |
Allowance charge-offs | (1.1) |
Other | 0.4 |
Balance as of June 30, 2024 | $ | 56.2 |
(1) An additional $2.8 million is included in bad debt expense for the nine months ended June 30, 2024 on the consolidated income statement, which is not included in the allowance at the period then ended.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org/310/tableOfContent + Details
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- References No definition available. + Details
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