Stockholders' Equity (Tables)

9 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

As-converted class A common stock. The following table presents the number of shares of each series and class of stock and the number of shares of class A common stock on an as-converted basis:


	June 30, 2020							September 30, 2019
	Shares Outstanding	Conversion Rate Into Class A Common Stock		As-converted Class A Common Stock⁽¹⁾	Shares Outstanding	Conversion Rate Into Class A Common Stock		As-converted Class A Common Stock⁽¹⁾
	(in millions, except conversion rates)
UK&I preferred stock	2	12.7750		32	2	12.9360		32
Europe preferred stock	3	13.7220		43	3	13.8840		44
Class A common stock⁽²⁾	1,687	—		1,687	1,718	—		1,718
Class B common stock	245	1.6228	⁽³⁾	398	245	1.6228	⁽³⁾	398
Class C common stock	11	4.0000		43	11	4.0000		45
Total				2,203				2,237

⁽¹⁾Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.

⁽²⁾Class A common stock shares outstanding reflect repurchases that settled on or before June 30, 2020 and September 30, 2019.

⁽³⁾The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.

Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock

The following table presents the reduction in equivalent number of as-converted shares of class A common stock, effective price per share and recovery of VE territory covered losses through conversion rate adjustments:


	Nine Months Ended June 30, 2020								Nine Months Ended June 30, 2019
	UK&I			Europe		UK&I			Europe
	(in millions, except per share data)
Reduction in equivalent number of as-converted class A common stock	—		⁽¹⁾	1		—		⁽¹⁾	—		⁽¹⁾
Effective price per share⁽²⁾	$	180.00		$	180.00	$	141.32		$	150.26
Recovery through conversion rate adjustment	$	72		$	92	$	6		$	2

⁽¹⁾The reduction in equivalent number of shares of class A common stock was less than one million shares.

⁽²⁾Effective price per share for the quarter is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C convertible participating preferred stock. Effective price per share is calculated using the weighted-average effective prices of the respective adjustments made during the year.

Share Repurchase Program Disclosure

Common stock repurchases. The following table presents share repurchases in the open market for the following periods:


	Three Months Ended June 30,						Nine Months Ended June 30,
	2020		2019		2020		2019
	(in millions, except per share data)
Shares repurchased in the open market⁽¹⁾	6		13		37		44
Average repurchase price per share⁽²⁾	$	177.86	$	162.97	$	179.91	$	147.66
Total cost⁽²⁾	$	1,069	$	2,149	$	6,572	$	6,480

⁽¹⁾Shares repurchased in the open market reflect repurchases that settled during the three and nine months ended June 30, 2020 and 2019. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.

⁽²⁾Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share and total cost is calculated based on unrounded numbers.