Stockholders' Equity

3 Months Ended

Dec. 31, 2016

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 at December 31, 2016, are as follows:

(in millions, except conversion rates)	Shares Outstanding	Conversion Rate Into Class A Common Stock		As-converted Class A Common Stock(1)
U.K.&I preferred stock	2	13.9520		35
Europe preferred stock	3	13.9520		44
Class A common stock (2)	1,854	—		1,854
Class B common stock	245	1.6483	(3)	405
Class C common stock	16	4.0000		62
Total				2,400

⁽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⁾  Class A common stock shares outstanding exclude repurchases traded but not yet settled on or before December 31, 2016.

⁽³⁾  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.

Common stock repurchases. The following table presents share repurchases in the open market.⁽¹⁾ 

(in millions, except per share data)	Three Months Ended December 31, 2016
Shares repurchased in the open market (2)	24
Average repurchase price per share (3)	$	79.94
Total cost	$	1,893

⁽¹⁾   Shares repurchased in the open market reflect repurchases settled during the three months ended December 31, 2016. These amounts include repurchases traded but not yet settled on or before September 30, 2016 and exclude repurchases traded but not yet settled on or before December 31, 2016.

⁽²⁾  All shares repurchased in the open market have been retired and constitute authorized but unissued shares.

⁽³⁾  Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share is calculated based on unrounded numbers.

As of December 31, 2016, the Company's July 2016 program had remaining authorized funds of $3.9 billion for share repurchase. All share repurchase programs authorized prior to July 2016 have been completed.

Dividends. In January 2017, the Company’s board of directors declared a quarterly cash dividend of $0.165 per share of class A common stock (determined in the case of class B and C common stock and U.K.&I and Europe preferred stock on an as-converted basis). The cash dividend will be paid on March 7, 2017, to all holders of record of the Company's common and preferred stock as of February 17, 2017. The Company declared and paid $399 million in dividends to holders of the Company's common stock during the three months ended December 31, 2016.