Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2021

Schedule of Earnings Per Share, Basic and Diluted

The following table presents earnings per share for the three months ended June 30, 2021:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	1,996	1,691	$	1.18	$	2,575	2,184	(3)	$	1.18
Class B common stock	470		245	$	1.92	$	470	245		$	1.91
Class C common stock	49		10	$	4.72	$	49	10		$	4.72
Participating securities(4)	60		Not presented	Not presented		$	60	Not presented		Not presented
Net income	$	2,575

The following table presents earnings per share for the nine months ended June 30, 2021:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	6,748	1,693	$	3.99	$	8,727	2,192	(3)	$	3.98
Class B common stock	1,588		245	$	6.47	$	1,586	245		$	6.46
Class C common stock	169		11	$	15.94	$	169	11		$	15.92
Participating securities(4)	222		Not presented	Not presented		$	221	Not presented		Not presented
Net income	$	8,727

The following table presents earnings per share for the three months ended June 30, 2020:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	1,814	1,690	$	1.07	$	2,373	2,214	(3)	$	1.07
Class B common stock	428		245	$	1.74	$	427	245		$	1.74
Class C common stock	46		11	$	4.29	$	47	11		$	4.29
Participating securities(4)	85		Not presented	Not presented		$	85	Not presented		Not presented
Net income	$	2,373

The following table presents earnings per share for the nine months ended June 30, 2020:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(2)		Income Allocation (A)(1)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(2)
	(in millions, except per share data)
Class A common stock	$	6,679	1,702	$	3.92	$	8,729	2,227	(3)	$	3.92
Class B common stock	1,564		245	$	6.37	$	1,561	245		$	6.36
Class C common stock	172		11	$	15.70	$	172	11		$	15.68
Participating securities(4)	314		Not presented	Not presented		$	314	Not presented		Not presented
Net income	$	8,729

(1)Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 398 million for the three and nine months ended June 30, 2021 and 2020. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 42 million for the three and nine months ended June 30, 2021 and 43 million and 44 million for the three and nine months ended June 30, 2020, respectively. The weighted-average number of shares of preferred stock included within participating securities was 9 million and 14 million of as-converted series A preferred stock for the three and nine months ended June 30, 2021, respectively, 16 million and 32 million of as-converted UK&I preferred stock for the three and nine months ended June 30, 2021 and 2020, respectively, and 22 million and 44 million of as-converted Europe preferred stock for the three and nine months ended June 30, 2021 and 2020, respectively.

(2)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.

(3)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 common stock equivalents of 3 million for the three and nine months ended June 30, 2021 and 2020 because their effect would have been dilutive. The computation excludes common stock equivalents of less than 1 million for the three and nine months ended June 30, 2021 and 1 million for the three and nine months ended June 30, 2020, because their effect would have been anti-dilutive.

(4)Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company’s series A preferred stock, UK&I and Europe preferred stock and restricted stock units. Participating securities’ income is allocated based on the weighted-average number of shares of as-converted stock.