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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Revenues        
Net revenues $ 5,494 $ 5,073 $ 11,000 $ 9,935
Operating Expenses        
Personnel 894 824 1,701 1,503
Marketing 241 261 517 484
Network and processing 171 169 344 329
Professional fees 101 108 192 200
Depreciation and amortization 160 153 319 298
General and administrative 264 222 540 458
Litigation provision (Note 13) 22 0 29 0
Total operating expenses 1,853 1,737 3,642 3,272
Operating income 3,641 3,336 7,358 6,663
Non-operating Income (Expense)        
Interest expense, net (140) (153) (285) (307)
Investment income and other 176 34 234 100
Total non-operating income (expense) 36 (119) (51) (207)
Income before income taxes 3,677 3,217 7,307 6,456
Income tax provision (Note 12) 700 612 1,353 1,329
Net income $ 2,977 $ 2,605 $ 5,954 $ 5,127
Class A common stock        
Earnings Per Share        
Basic earnings per share (in dollars per share) [1] $ 1.31 $ 1.12 $ 2.61 $ 2.19
Basic weighted-average shares outstanding (in shares) 1,748 1,798 1,754 1,805
Diluted earnings per share (in dollars per share) [1] $ 1.31 $ 1.11 $ 2.61 $ 2.19
Diluted weighted-average shares outstanding (in shares) [2] 2,279 2,337 2,285 2,345
Class B common stock        
Earnings Per Share        
Basic earnings per share (in dollars per share) [1] $ 2.13 $ 1.84 $ 4.25 $ 3.61
Basic weighted-average shares outstanding (in shares) 245 245 245 245
Diluted earnings per share (in dollars per share) [1] $ 2.13 $ 1.84 $ 4.25 $ 3.60
Diluted weighted-average shares outstanding (in shares) 245 245 245 245
Class C common stock        
Earnings Per Share        
Basic earnings per share (in dollars per share) [1] $ 5.23 $ 4.46 $ 10.44 $ 8.76
Basic weighted-average shares outstanding (in shares) 12 12 12 13
Diluted earnings per share (in dollars per share) [1] $ 5.23 $ 4.46 $ 10.42 $ 8.74
Diluted weighted-average shares outstanding (in shares) 12 12 12 13
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
[2] Weighted-average diluted shares outstanding are calculated on an as-converted basis and include incremental common stock equivalents, as calculated under the treasury stock method. The computation includes approximately 3 million common stock equivalents for the three and six months ended March 31, 2019 and 4 million common stock equivalents for the three and six months ended March 31, 2018, because their effect would have been dilutive. The computation excludes 1 million of common stock equivalents for the three and six months ended March 31, 2019, and 2 million of common stock equivalents for the three and six months ended March 31, 2018, because their effect would have been anti-dilutive.