SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Stock by Class

The following table details the shares outstanding, carrying value, and aggregate liquidation preference of our preferred stock.

$ in millions	September 30, 2024		September 30, 2023
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 Series A and Series B preferred stock for the years ended September 30, 2024, 2023, and 2022.

	Dividends declared				Dividends paid
$ in millions, except per share amounts	Total dividends		Per preferred share amount		Total dividends		Per preferred share amount
Year ended September 30, 2024
Series B Preferred Stock	$	5	$	63.76	$	5	$	63.76
Year ended September 30, 2023
Series A Preferred Stock (1)	$	2	$	33.76	$	2	$	50.64
Series B Preferred Stock	5		$	63.76	5		$	63.76
Total	$	7			$	7
Year ended September 30, 2022
Series A Preferred Stock	$	1	$	33.75	$	1	$	16.88
Series B Preferred Stock	3		$	31.88	1		$	15.94
Total	$	4			$	2

(1)On April 3, 2023, we redeemed all 40,250 outstanding shares of our Series A Preferred Stock with a carrying value of $41 million, which triggered the redemption of the related depositary shares, each representing a 1/40th interest of a share of Series A Preferred Stock, for an aggregate redemption value of $40 million. Preferred stock dividends on our Consolidated Statements of Income and Comprehensive Income for the year ended September 30, 2023 included dividends declared during the year, as well as the $1 million excess of the carrying value of our Series A Preferred Stock over the redemption value, which was reported as an offset to preferred dividends and increased net income available to common shareholders.

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

	Year ended September 30,
	2024		2023		2022
Dividends per common share - declared	$	1.80	$	1.68	$	1.36
Dividends per common share - paid	$	1.77	$	1.60	$	1.28

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.

	Year ended September 30,
	2024		2023		2022
Dividend payout ratio	18.6	%	21.1	%	19.5	%

Schedule of Common Stock Outstanding Roll Forward

The following table presents the changes in our common shares outstanding for the years ended September 30, 2024, 2023, and 2022.

	Year ended September 30,
Shares in millions	2024	2023	2022
Balance beginning of year	208.8	215.1	205.7
Repurchases of common stock under the Board of Directors’ common stock repurchase authorization	(7.7)	(8.4)	(1.7)
Issuances due to vesting of RSUs, employee stock purchases, and exercise of stock options, net of forfeitures	2.2	2.1	2.6
Common stock issued for TriState Capital acquisition (1)	—	—	8.5
Balance end of year	203.3	208.8	215.1

(1)On June 1, 2022, in conjunction with our acquisition of TriState Capital we issued 7.97 million shares of common stock as a component of the purchase consideration in the settlement of TriState Capital common stock and 551 thousand RSAs. See Note 3 for additional information on the TriState Capital acquisition and Note 23 for additional information on the RSAs and common stock issuances made under our share-based compensation programs.

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
Year ended September 30, 2024
AOCI as of beginning of year	$	143	$	(216)	$	(73)	$	(942)	$	44	$	(971)
OCI:
OCI before reclassifications and taxes	2		47		49		606		(14)		641
Amounts reclassified from AOCI, before tax	—		—		—		—		(35)		(35)
Pre-tax net OCI	2		47		49		606		(49)		606
Income tax effect	—		—		—		(149)		12		(137)
OCI for the year, net of tax	2		47		49		457		(37)		469
AOCI as of end of year	$	145	$	(169)	$	(24)	$	(485)	$	7	$	(502)
Year ended September 30, 2023
AOCI as of beginning of year	$	153	$	(276)	$	(123)	$	(902)	$	43	$	(982)
OCI:
OCI before reclassifications and taxes	(14)		60		46		(37)		33		42
Amounts reclassified from AOCI, before tax	—		—		—		—		(32)		(32)
Pre-tax net OCI	(14)		60		46		(37)		1		10
Income tax effect	4		—		4		(3)		—		1
OCI for the year, net of tax	(10)		60		50		(40)		1		11
AOCI as of end of year	$	143	$	(216)	$	(73)	$	(942)	$	44	$	(971)
Year ended September 30, 2022
AOCI as of beginning of year	$	81	$	(90)	$	(9)	$	(5)	$	(27)	$	(41)
OCI:
OCI before reclassifications and taxes	95		(186)		(91)		(1,208)		85		(1,214)
Amounts reclassified from AOCI, before tax	—		—		—		—		9		9
Pre-tax net OCI	95		(186)		(91)		(1,208)		94		(1,205)
Income tax effect	(23)		—		(23)		311		(24)		264
OCI for the year, net of tax	72		(186)		(114)		(897)		70		(941)
AOCI as of end of year	$	153	$	(276)	$	(123)	$	(902)	$	43	$	(982)