Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2024

Schedule of Earnings Per Share, Basic and Diluted

The following table presents earnings per share for the three months ended June 30, 2024:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(1)		Income Allocation (A)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(1)
	(in millions, except per share data)
Class A common stock	$	3,870	1,610	$	2.40	$	4,872	2,029	(2)	$	2.40
Class B-1 common stock	372		97	$	3.82	$	371	97		$	3.81
Class B-2 common stock(3)	283		74	$	3.82	$	282	74		$	3.81
Class C common stock	275		29	$	9.62	$	275	29		$	9.60
Participating securities	72		Not presented	Not presented		$	72	Not presented		Not presented
Net income	$	4,872

The following table presents earnings per share for the nine months ended June 30, 2024:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(1)		Income Allocation (A)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(1)
	(in millions, except per share data)
Class A common stock	$	11,276	1,591	$	7.09	$	14,425	2,038	(2)	$	7.08
Class B-1 common stock	2,209		196	$	11.25	$	2,206	196		$	11.24
Class B-2 common stock(3)	277		25	$	11.25	$	276	25		$	11.24
Class C common stock	447		16	$	28.35	$	447	16		$	28.31
Participating securities	216		Not presented	Not presented		$	216	Not presented		Not presented
Net income	$	14,425

The following table presents earnings per share for the three months ended June 30, 2023:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(1)		Income Allocation (A)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(1)
	(in millions, except per share data)
Class A common stock	$	3,228	1,614	$	2.00	$	4,156	2,080	(2)	$	2.00
Class B-1 common stock	785		245	$	3.20	$	784	245		$	3.19
Class C common stock	77		10	$	8.00	$	76	10		$	7.99
Participating securities	66		Not presented	Not presented		$	66	Not presented		Not presented
Net income	$	4,156

The following table presents earnings per share for the nine months ended June 30, 2023:


	Basic Earnings Per Share					Diluted Earnings Per Share
	Income Allocation (A)		Weighted- Average Shares Outstanding (B)	Earnings per Share = (A)/(B)(1)		Income Allocation (A)		Weighted- Average Shares Outstanding (B)		Earnings per Share = (A)/(B)(1)
	(in millions, except per share data)
Class A common stock	$	9,778	1,623	$	6.03	$	12,592	2,092	(2)	$	6.02
Class B-1 common stock	2,369		245	$	9.65	$	2,366	245		$	9.64
Class C common stock	233		10	$	24.10	$	233	10		$	24.08
Participating securities	212		Not presented	Not presented		$	211	Not presented		Not presented
Net income	$	12,592

(1)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are 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 common stock equivalents are not material for the three and nine months ended June 30, 2024 and 2023.

(3)No shares of class B-2 common stock were outstanding prior to the class B-1 common stock exchange offer. See Note 9—Stockholders’ Equity for further details.

Schedule of Weighted Average Number of Shares as Converted

The following table presents the weighted-average number of as-converted class A common stock outstanding used in the income allocation:


	Three Months Ended June 30,		Nine Months Ended June 30,
	2024	2023	2024	2023
	(in millions)
Class B-1 common stock	155	393	312	393
Class B-2 common stock(1)	118	—	39	—
Class C common stock	114	38	63	39
Participating securities:
Series A preferred stock	6	8	6	10
Series B preferred stock	7	7	7	7
Series C preferred stock	11	11	11	11

(1) No shares of class B-2 common stock were outstanding prior to the class B-1 common stock exchange offer. See Note 9—Stockholders’ Equity for further details.