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Stockholders' Equity (Tables)
3 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
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 were as follows:
December 31, 2023September 30, 2023
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 6 — 
(2)
100.0000 
Series B preferred stock2 2.9030 7 2.9370 
Series C preferred stock3 3.6250 11 3.6290 11 
Class A common stock1,582  1,582 1,594 — 1,594 
Class B common stock245 1.5875 
(3)
390 245 1.5875 
(3)
390 
Class C common stock9 4.0000 38 10 4.0000 38 
Total2,034 2,047 
(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 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.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock The following table presents the reduction in the number of as-converted class B common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
Three Months Ended
December 31,
20232022
(in millions, except per share data)
Reduction in equivalent number of class A common stock 
Effective price per share(1)
$ $209.14 
Deposits into the U.S. litigation escrow account$ $350 
(1)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.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
Three Months Ended
December 31, 2023
Three Months Ended
December 31, 2022
Series BSeries CSeries BSeries 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)
$254.32 $254.32 $211.34 $211.34 
Recovery through conversion rate adjustment
$22 $3 $$
(1)The reduction in equivalent number of shares 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.
Share Repurchase Program Disclosure
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
December 31,
20232022
(in millions, except per share data)
Shares repurchased in the open market(1)
15 16 
Average repurchase cost per share(2)
$238.47 $197.69 
Total cost(2)
$3,609 $3,115 
(1)Shares repurchased in the open market reflect repurchases that settled during the three months ended December 31, 2023 and 2022. All shares repurchased in the open market have been 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.