SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Stock by Class

The following table details the shares outstanding, carrying value, and aggregate liquidation preference of our preferred stock. For further details regarding our preferred stock see Note 20 of our 2023 Form 10-K.

$ in millions	December 31, 2023		September 30, 2023
6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (“Series B Preferred Stock”):
Shares outstanding	80,500		80,500
Carrying value	$	79	$	79
Aggregate liquidation preference	$	81	$	81

Dividends Declared and Paid

The following table details dividends declared and dividends paid on our 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) and Series B Preferred Stock for the three months ended December 31, 2023 and 2022. We redeemed all outstanding shares of our Series A Preferred Stock on April 3, 2023.

	Dividends declared				Dividends paid
$ in millions, except per share amounts	Total dividends		Per preferred share amount		Total dividends		Per preferred share amount
Three months ended December 31, 2023
Series B Preferred Stock	$	1	$	15.94	$	1	$	15.94
Three months ended December 31, 2022
Series A Preferred Stock	$	1	$	16.88	$	1	$	16.88
Series B Preferred Stock	1		$	15.94	1		$	15.94
Total	$	2			$	2

Dividends per common share declared and paid are detailed in the following table for each respective period.

	Three months ended December 31,
	2023		2022
Dividends per common share - declared	$	0.45	$	0.42
Dividends per common share - paid	$	0.42	$	0.34

Our dividend payout ratio is detailed in the following table for each respective period and is computed by dividing dividends declared per common share by earnings per diluted common share.

	Three months ended December 31,
	2023		2022
Dividend payout ratio	19.4	%	18.3	%

Schedule of Common Stock Outstanding Roll Forward

The following table presents the changes in our common shares outstanding for the three months ended December 31, 2023 and 2022.

	Three months ended December 31,
Shares in millions	2023	2022
Balance beginning of period	208.8	215.1
Repurchases of common stock	(1.4)	(1.3)
Issuances due to vesting of RSUs and exercise of stock options, net of forfeitures	1.3	1.2
Balance end of period	208.7	215.0

Schedule of AOCI

The following table presents the net change in AOCI as well as the changes, and the related tax effects, of each component of AOCI.

$ in millions	Net investment hedges		Currency translations		Subtotal: net investment hedges and currency translations		Available- for-sale securities		Cash flow hedges		Total
Three months ended December 31, 2023
AOCI as of beginning of period	$	143	$	(216)	$	(73)	$	(942)	$	44	$	(971)
OCI:
OCI before reclassifications and taxes	(29)		51		22		358		(18)		362
Amounts reclassified from AOCI, before tax	—		—		—		—		(10)		(10)
Pre-tax net OCI	(29)		51		22		358		(28)		352
Income tax effect	7		—		7		(88)		7		(74)
OCI for the period, net of tax	(22)		51		29		270		(21)		278
AOCI as of end of period	$	121	$	(165)	$	(44)	$	(672)	$	23	$	(693)
Three months ended December 31, 2022
AOCI as of beginning of period	$	153	$	(276)	$	(123)	$	(902)	$	43	$	(982)
OCI:
OCI before reclassifications and taxes	(19)		60		41		85		2		128
Amounts reclassified from AOCI, before tax	—		—		—		—		(5)		(5)
Pre-tax net OCI	(19)		60		41		85		(3)		123
Income tax effect	5		—		5		(38)		1		(32)
OCI for the period, net of tax	(14)		60		46		47		(2)		91
AOCI as of end of period	$	139	$	(216)	$	(77)	$	(855)	$	41	$	(891)