XML 52 R41.htm IDEA: XBRL DOCUMENT v3.24.1.u1
U.S. and Europe Retrospective Responsibility Plans - Changes in Preferred Stock and Right to Recover Covered Losses (Details)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2024
USD ($)
$ / shares
shares
Mar. 31, 2023
USD ($)
shares
Mar. 31, 2024
USD ($)
$ / shares
shares
Mar. 31, 2023
USD ($)
shares
Dec. 31, 2023
shares
Sep. 30, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
shares
Sep. 30, 2022
shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Balance as of beginning of period $ 39,733 $ 36,924 $ 38,733 $ 35,581        
VE territory covered losses incurred (36) (7) (60) (15)        
Recovery through conversion rate adjustment     0 1        
Balance as of end of period 40,485 38,565 40,485 38,565        
As-converted Value of Preferred Stock 5,204   5,204     $ 4,311    
Book Value of Preferred Stock 1,602   1,602     1,698    
Book Value of Preferred Stock, Total 1,217   1,217     1,242    
Less: right to recover for covered losses (175)   (175)     (140)    
As-converted Value of Preferred Stock, Total recovery for covered losses available 5,029   5,029     4,171    
Book Value of Preferred of Stock, Total recovery for covered losses available $ 1,042   $ 1,042     $ 1,102    
Preferred stock, shares outstanding (in shares) | shares 5   5     5    
Share price (in dollars per share) | $ / shares $ 279.08   $ 279.08     $ 230.01    
Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Balance as of beginning of period $ 1,615 1,981 $ 1,698 [1] 2,324 [2]        
Recovery through conversion rate adjustment     (25) (14)        
Balance as of end of period $ 1,602 [1] $ 1,885 [2] $ 1,602 [1] $ 1,885 [2]        
Preferred stock, shares outstanding (in shares) | shares 5 5 5 5 5 5 5 5
Right to Recover for Covered Losses                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Balance as of beginning of period $ (139) $ (28) $ (140) $ (35)        
VE territory covered losses incurred (36) (7) (60) (15)        
Recovery through conversion rate adjustment     25 15        
Balance as of end of period (175) (35) (175) (35)        
Series B preferred stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Recovery through conversion rate adjustment     22 7        
As-converted Value of Preferred Stock 2,010   2,010     $ 1,676    
Book Value of Preferred Stock $ 419   $ 419     $ 441    
Preferred stock, shares outstanding (in shares) | shares 2   2     2    
Preferred stock, conversion rate 2.9030   2.9030     2.9370    
Series B preferred stock | Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Balance as of beginning of period     $ 441 460        
VE territory covered losses incurred     0 0        
Recovery through conversion rate adjustment     (22) (7)        
Balance as of end of period $ 419 453 419 453        
Series C preferred stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Recovery through conversion rate adjustment     3 7        
As-converted Value of Preferred Stock 3,194   3,194     $ 2,635    
Book Value of Preferred Stock $ 798   $ 798     $ 801    
Preferred stock, shares outstanding (in shares) | shares 3   3     3    
Preferred stock, conversion rate 3.6250   3.6250     3.6290    
Series C preferred stock | Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Balance as of beginning of period     $ 801 812        
VE territory covered losses incurred     0 0        
Recovery through conversion rate adjustment     (3) (7)        
Balance as of end of period $ 798 $ 805 $ 798 $ 805        
[1] As of March 31, 2024 and September 30, 2023, the book value of series A preferred stock was $385 million and $456 million, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock
[2] As of March 31, 2023 and September 30, 2022, the book value of series A preferred stock was $627 million and $1.0 billion, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.