LEASES

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

LEASES

LEASES

The following table presents balances related to our leases on our Consolidated Statements of Financial Condition. See Note 2 for a discussion of our accounting policies related to leases.

$ in millions	September 30, 2021		September 30, 2020
ROU assets (included in Other assets)	$	446	$	321
Lease liabilities (included in Other payables)	$	450	$	345

The weighted-average remaining lease term and discount rate for our leases is presented in the following table.

	September 30, 2021		September 30, 2020
Weighted-average remaining lease term	6.7 years		5.0 years
Weighted-average discount rate	3.45	%	3.86	%

Lease expense

The following table details the components of lease expense, which is included in “Occupancy and equipment” expense on our Consolidated Statements of Income and Comprehensive Income.

	Year ended September 30,
$ in millions	2021		2020
Lease costs	$	110	$	98
Variable lease costs	$	27	$	26

Variable lease costs in the preceding table include payments for common area maintenance charges and other variable costs that are not reflected in the measurement of ROU assets and lease liabilities.

Lease liabilities

The maturities by fiscal year of our lease liabilities as of September 30, 2021 are presented in the following table.

	$ in millions
2022	$	102
2023	94
2024	72
2025	56
2026	46
Thereafter	136
Gross lease payments	506
Less: interest	(56)
Present value of lease liabilities	$	450

Lease payments in the preceding table exclude $20 million of legally binding minimum lease payments for leases signed but not yet commenced. These leases are estimated to commence between fiscal year 2022 and 2023 with lease terms ranging from three to seven years.