v3.26.1
Allowance for Doubtful Accounts
9 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Allowance for Doubtful Accounts Allowance for Doubtful Accounts
The allowance for doubtful accounts related to Receivables from clients was $60.8 million and $53.9 million as of June 30, 2026 and September 30, 2025, respectively. The Company had no allowance for doubtful accounts related to Deposits with and receivables from broker-dealers, clearing organizations, and counterparties as of June 30, 2026 and September 30, 2025.
Activity in the allowance for doubtful accounts for the nine months ended June 30, 2026 was as follows:
(in millions)
Balance as of September 30, 2025$53.9 
Provision for bad debts(1)
12.9 
Allowance charge-offs(5.8)
Other(0.2)
Balance as of June 30, 2026$60.8 
(1) A recovery of $0.3 million is included in bad debt expense for the nine months ended June 30, 2026 on the Condensed Consolidated Income Statements, which is not included in the allowance.