v3.25.1
Allowance for Doubtful Accounts
6 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Allowance for Doubtful Accounts Allowance for Doubtful Accounts
The allowance for doubtful accounts related to deposits with and receivables from broker-dealers, clearing organizations, and counterparties was $0.1 million as of March 31, 2025 and $0.0 million as of September 30, 2024. The allowance for doubtful accounts related to receivables from clients was $49.1 million and $51.9 million as of March 31, 2025 and September 30, 2024, respectively.
Activity in the allowance for doubtful accounts for the six months ended March 31, 2025 was as follows:
(in millions)
Balance as of September 30, 2024$51.9 
Provision for bad debts(1)
1.5 
Allowance charge-offs(4.1)
Other(0.1)
Balance as of March 31, 2025$49.2 
(1) An additional $0.4 million is included in bad debt expense for the six months ended March 31, 2025 on the Condensed Consolidated Income Statements, which is not included in the allowance.