v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 1,531 $ 1,466
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 143 132
Deferred income taxes, net (4) (28)
Premium and discount amortization on available-for-sale securities and bank loans and net unrealized gains/losses on other investments (19) (30)
Provisions for credit losses and legal and regulatory matters, net 107 0
Share-based compensation expense 199 201
Unrealized gains on corporate-owned life insurance policies, net of expenses (68) (174)
Other 23 18
Net change in:    
Collateralized agreements, net of collateralized financings (247) 664
Loans (provided to) financial advisors, net of repayments (194) (146)
Brokerage client receivables and other receivables, net (170) (509)
Trading instruments, net 77 (78)
Derivative instruments, net 31 35
Other assets 78 (18)
Brokerage client payables and other payables 331 72
Accrued compensation, commissions and benefits (109) 59
Purchases and originations of loans held for sale, net of proceeds from sales of securitizations and loans held for sale (71) (19)
Net cash provided by operating activities 1,638 1,645
Cash flows from investing activities:    
Increase in bank loans, net (4,044) (1,737)
Proceeds from sales of loans held for investment 218 337
Purchases of available-for-sale securities (480) (397)
Available-for-sale securities maturations, repayments and redemptions 1,531 1,279
Proceeds from sales of available-for-sale securities 78 0
Additions to property and equipment (144) (155)
Sales/(purchases) of Federal Reserve Bank (“FRB”) and Federal Home Loan Bank (“FHLB”) stock, net 8 0
Renewable energy tax credit equity investments 0 (15)
Other investing activities, net (65) (69)
Net cash used in investing activities (2,898) (757)
Cash flows from financing activities:    
Increase in bank deposits 1,239 202
Repurchases of common stock and share-based awards withheld for payment of withholding tax requirements (914) (655)
Dividends on common and preferred stock (314) (288)
Exercise of stock options and employee stock purchases 26 37
Proceeds from FHLB advances 750 1,300
Repayments of FHLB advances (950) (1,350)
Other financing, net (8) (2)
Net cash used in financing activities (171) (756)
Currency adjustment:    
Effect of exchange rate changes on cash and cash equivalents, including those segregated for regulatory purposes 48 56
Net increase/(decrease) in cash and cash equivalents, including those segregated for regulatory purposes and restricted cash (1,383) 188
Cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at beginning of year 14,348 12,548
Cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at end of period 12,965 12,736
Cash and cash equivalents, including those segregated for regulatory purposes and restricted cash    
Cash and cash equivalents 9,195 9,095
Cash and cash equivalents segregated for regulatory purposes and restricted cash 3,770 3,641
Total cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at end of period 12,965 12,736
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,394 1,575
Cash paid for income taxes, net 510 548
Cash outflows for lease liabilities 99 91
Non-cash right-of-use assets recorded for new and modified leases $ 78 $ 51