0001618921-24-000065 | 10-Q | XBRL Viewer | Walgreens Boots Alliance INC

Leases (Tables)

9 Months Ended

May 31, 2024

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows (in millions):


Balance sheet supplemental information:	May 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	21,020	$	21,667

Operating lease obligations - current	$	2,384	$	2,347
Operating lease obligations - non-current	21,379		22,124
Total operating lease obligations	$	23,763	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	675	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	71	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	988	$	976

Schedule of Supplemental Income Statement and Other Information

Supplemental income statement information related to leases was as follows (in millions):


	Three months ended May 31,				Nine months ended May 31,
Statement of earnings supplemental information:	2024		2023		2024		2023
Operating lease cost
Fixed	$	866	$	879	$	2,605	$	2,545
Variable 1	228		218		653		613
Finance lease cost
Amortization	$	13	$	15	$	45	$	36
Interest	12		14		38		38

Sublease income 2	$	29	$	29	$	84	$	87
Impairment of right-of-use assets	13		38		194		109

Gain on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	10	$	263	$	268	$	647
International 3	—		30		—		178
Total gain on sale-leaseback 2	$	10	$	293	$	268	$	825

1Includes real estate property taxes, common area maintenance, insurance and rental payments based on sales volume.

2Recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings.

3Includes gain on sale-leaseback related to the Germany wholesale business of $30 million and $178 million for the three and nine months ended May 31, 2023, of which $6 million and $47 million, respectively, related to the optimization of warehouse locations as part of acquisition integration activities.

Other supplemental information was as follows (in millions):


	Nine months ended May 31,
Other supplemental information:	2024		2023

Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	2,779	$	2,668
Operating cash flows from finance leases	37		35
Financing cash flows from finance leases	52		38
Total	$	2,867	$	2,741

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,235	$	1,773
Finance leases	55		23
Total	$	1,290	$	1,796

Weighted average lease term and discount rate for real estate leases were as follows:


Weighted average lease terms and discount rates:	May 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.3		9.6
Finance leases	17.7		17.4

Weighted average discount rate
Operating leases	5.55	%	5.35	%
Finance leases	5.18	%	5.25	%

Schedule of Aggregate Future Lease Payments Under Operating Leases

The aggregate future lease payments for operating and finance leases as of May 31, 2024 were as follows (in millions):


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2
2024 (Remaining period)	$	32	$	915
2025	122		3,667
2026	119		3,594
2027	116		3,508
2028	95		3,374
2029	85		3,125
Later	882		12,608
Total undiscounted minimum lease payments	$	1,452	$	30,791
Less: Present value discount	464		7,029
Lease liability	$	988	$	23,763

1.Total undiscounted minimum lease payments include approximately $3.6 billion of payments related to optional renewal periods that have not been contractually exercised, but are reasonably certain of being exercised.

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $597 million due to the Company under non-cancelable sublease terms.

Schedule of Aggregate Future Lease Payments Under Finance Leases

The aggregate future lease payments for operating and finance leases as of May 31, 2024 were as follows (in millions):


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2
2024 (Remaining period)	$	32	$	915
2025	122		3,667
2026	119		3,594
2027	116		3,508
2028	95		3,374
2029	85		3,125
Later	882		12,608
Total undiscounted minimum lease payments	$	1,452	$	30,791
Less: Present value discount	464		7,029
Lease liability	$	988	$	23,763

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $597 million due to the Company under non-cancelable sublease terms.

Goodwill and other intangible assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	May 31, 2024	Feb. 29, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance				$ 28,187
Adjustments				19
Impairments	$ 0		$ 0	(12,369)	$ 0
Cumulative translation adjustments and other				(16)
Goodwill, ending balance	15,821			15,821
International
Goodwill [Roll Forward]
Impairments	(431)
U.S. Healthcare
Goodwill [Roll Forward]
Impairments		$ (12,400)
Reportable Segments \| U.S. Retail Pharmacy
Goodwill [Roll Forward]
Goodwill, beginning balance				10,947
Adjustments				0
Impairments				0
Cumulative translation adjustments and other				0
Goodwill, ending balance	10,947			10,947
Reportable Segments \| International
Goodwill [Roll Forward]
Goodwill, beginning balance				1,378
Adjustments				0
Impairments				0
Cumulative translation adjustments and other				(8)
Goodwill, ending balance	1,370			1,370
Reportable Segments \| U.S. Healthcare
Goodwill [Roll Forward]
Goodwill, beginning balance				15,863
Adjustments				19
Impairments				(12,369)
Cumulative translation adjustments and other				(8)
Goodwill, ending balance	$ 3,505			$ 3,505

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Acquisitions and other Investments - narrative (Details) - USD ($) $ in Millions					3 Months Ended			9 Months Ended
	May 08, 2024	Mar. 03, 2023	Jan. 03, 2023	Dec. 28, 2022	May 31, 2024	Nov. 30, 2023	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Business Acquisition [Line Items]
Adjustments								$ 19
Goodwill					$ 15,821			15,821		$ 28,187
Rite Aid Asset Acquisition
Business Acquisition [Line Items]
Payments to acquire productive assets	$ 375
VillageMD
Business Acquisition [Line Items]
Noncontrolling interest, ownership percentage by parent			53.00%
Summit Heath-CityMD
Business Acquisition [Line Items]
Cash consideration			$ 7,000
Purchase price			4,850
Fair value of equity consideration			1,971
Deferred consideration			100
Business combination, consideration transferred, employees			87
Summit debt paid at closing			1,900
Intangible assets			3,359
Goodwill			5,454
Tax deductible goodwill			416
Summit Heath-CityMD \| Partnership Interest
Business Acquisition [Line Items]
Fair value of equity consideration			2,050
Summit Heath-CityMD \| Provider networks
Business Acquisition [Line Items]
Intangible assets			$ 1,900
Useful life of capitalized software costs			15 years
Summit Heath-CityMD \| Trade Names
Business Acquisition [Line Items]
Intangible assets			$ 1,500
Summit Heath-CityMD \| Minimum \| Trade Names
Business Acquisition [Line Items]
Useful life of capitalized software costs			11 years
Summit Heath-CityMD \| Maximum \| Trade Names
Business Acquisition [Line Items]
Useful life of capitalized software costs			15 years
VillageMD
Business Acquisition [Line Items]
Fair value of equity consideration			$ 1,750
Debt instrument, fee amount, credit			220
VillageMD \| Line of Credit
Business Acquisition [Line Items]
Face amount			2,250
VillageMD \| Line of Credit \| Term Loan
Business Acquisition [Line Items]
Face amount			1,750
VillageMD \| Line of Credit \| Credit facilities
Business Acquisition [Line Items]
Face amount			500
VillageMD \| Cigna
Business Acquisition [Line Items]
Fair value of equity consideration			$ 2,500
CareCentrix
Business Acquisition [Line Items]
Purchase price						$ 378
Shields Health Solutions Parent, LLC
Business Acquisition [Line Items]
Purchase price				$ 1,400
Starling MSO Holdings, LLC
Business Acquisition [Line Items]
Cash consideration		$ 284
Purchase price		222
Fair value of equity consideration		$ 62
Intangible assets					128			128
Goodwill					103			103
Other Acquisitions
Business Acquisition [Line Items]
Cash consideration, net					$ 49		$ 37	$ 221	$ 127

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Income Statement [Abstract]
Sales	$ 36,351	$ 35,415	$ 110,111	$ 103,659
Cost of sales	29,892	28,826	89,840	83,062
Gross profit	6,460	6,588	20,271	20,596
Selling, general and administrative expenses	6,393	7,123	21,165	27,215
Impairment of goodwill	0	0	12,369	0
Equity earnings in Cencora	44	58	164	187
Operating income (loss)	111	(477)	(13,099)	(6,431)
Other income, net	254	268	229	1,812
Earnings (loss) before interest and income tax provision (benefit)	365	(209)	(12,870)	(4,619)
Interest expense, net	113	173	351	425
Earnings (loss) before income tax provision (benefit)	251	(382)	(13,221)	(5,044)
Income tax provision (benefit)	20	(330)	(836)	(1,707)
Post-tax (loss) earnings from other equity method investments	(1)	4	15	18
Net earnings (loss)	230	(48)	(12,370)	(3,320)
Net loss attributable to non-controlling interests	(114)	(166)	(6,739)	(420)
Net earnings (loss) attributable to Walgreens Boots Alliance, Inc.	$ 344	$ 118	$ (5,631)	$ (2,900)
Earnings Per Share, Basic [Abstract]
Total (in dollars per share)	$ 0.40	$ 0.14	$ (6.53)	$ (3.36)
Earnings Per Share, Diluted [Abstract]
Total (in dollars per share)	$ 0.40	$ 0.14	$ (6.53)	$ (3.36)
Weighted average common shares outstanding:
Basic (in shares)	863.1	863.1	862.9	863.1
Diluted (in shares)	864.3	863.8	862.9	863.1

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 344	$ 118	$ (5,631)	$ (2,900)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

New accounting pronouncements	9 Months Ended
New accounting pronouncements	May 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New accounting pronouncements	Accounting policies Basis of presentation The Consolidated Condensed Financial Statements of Walgreens Boots Alliance, Inc. and its subsidiaries (“Walgreens Boots Alliance” or the “Company”) included herein have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The Consolidated Condensed Financial Statements include all subsidiaries in which the Company holds a controlling interest and certain variable interest entities (“VIEs”) for which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments in less than majority-owned companies if the investment provides the ability to exercise significant influence. All intercompany transactions have been eliminated. The Consolidated Condensed Financial Statements included herein are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited financial statements and the notes thereto included in the Walgreens Boots Alliance Annual Report on Form 10-K for the fiscal year ended August 31, 2023, as amended by Form 10-K/A for the fiscal year ended August 31, 2023 filed on November 22, 2023. The preparation of financial statements in accordance with GAAP requires management to use judgment in the application of accounting policies, including making estimates and assumptions. The Company bases its estimates on the information available at the time, its experiences and various other assumptions believed to be reasonable under the circumstances. Adjustments may be made in subsequent periods to reflect more current estimates and assumptions about matters that are inherently uncertain. Actual results may differ. In the opinion of management, the unaudited Consolidated Condensed Financial Statements for the interim periods presented include all adjustments necessary to present a fair statement of the results for such interim periods. Adverse global macroeconomic conditions, the impact of opioid-related claims and litigation settlements, the influence of certain holidays, seasonality, foreign currency rates, changes in vendor, payor and customer relationships and terms, strategic transactions including acquisitions and dispositions, asset impairments, changes in laws and regulations in the markets in which the Company operates and other factors on the Company’s operations and net earnings for any period may not be comparable to the same period in previous years. Certain amounts in the Consolidated Condensed Financial Statements and accompanying notes may not sum due to rounding. Percentages have been calculated using unrounded amounts for all periods presented. Certain prior period data has been reclassified in the Consolidated Condensed Financial Statements and accompanying notes to conform to the current period presentation. New accounting pronouncements Adoption of new accounting pronouncements Acquired contract assets and contract liabilities in a business combination In October 2021, the FASB issued Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). This ASU is expected to reduce diversity in practice and increase comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. This ASU is effective for business combinations completed in fiscal years beginning after December 15, 2022 (fiscal 2024). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's results of operations, cash flows, or financial position. Liabilities — Supplier Finance Programs In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations. This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is expected to improve financial reporting by requiring new disclosures about the programs, thereby allowing financial statement users to better consider the effect of the programs on an entity’s working capital, liquidity, and cash flows. This ASU is effective for fiscal years beginning after December 15, 2022 (fiscal 2024), except for the amendment on roll forward information which is effective for fiscal years beginning after December 15, 2023 (fiscal 2025). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's disclosures within these Consolidated Condensed Financial Statements. New accounting pronouncements not yet adopted Leases — Common Control Arrangements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842) – Common Control Arrangements. The ASU amends the accounting for leasehold improvements in common control arrangements by requiring a lessee in a common control lease arrangement to amortize leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease. Further, a lessee that no longer controls the use of the underlying asset will derecognize the remaining carrying amount of the improvements through an adjustment to equity, reflecting the transfer of the asset to the lessor under common control. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025), including interim periods within those fiscal years. Early adoption is permitted in any annual or interim period as of the beginning of the related fiscal year. The Company is evaluating the effect of adopting this new accounting guidance. Segment Reporting - Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. This ASU is expected to improve disclosures related to an entity’s reportable segments and provide additional, more detailed information about a reportable segment’s expenses. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025) and interim periods within fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance. Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU is expected to enhance the transparency and decision usefulness of income tax disclosures by requiring public business entities on an annual basis to disclose specific categories in the rate reconciliation, additional information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU are required to be applied on a prospective basis and retrospective adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance.

Fair value measurements- Additional Information (Details) $ in Billions	May 31, 2024 USD ($)	Aug. 31, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term notes outstanding	$ 6.5
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long-term notes outstanding	$ 5.9
Minimum \| Level 3 \| Variable Prepaid Forward, Lower Strike \| Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.247	0.232
Minimum \| Level 3 \| Variable Prepaid Forward, Upper Strike \| Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.194	0.181
Maximum \| Level 3 \| Variable Prepaid Forward, Lower Strike \| Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.290	0.247
Maximum \| Level 3 \| Variable Prepaid Forward, Upper Strike \| Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.222	0.191

Goodwill and other intangible assets - Narrative (Details) $ in Millions	3 Months Ended			9 Months Ended
	May 31, 2024 USD ($)	Feb. 29, 2024 USD ($) clinic	May 31, 2023 USD ($)	May 31, 2024 USD ($)	May 31, 2023 USD ($)
Goodwill [Line Items]
Impairments	$ 0		$ 0	$ 12,369	$ 0
Amortization of intangible assets	238		$ 226	$ 717	$ 583
Transformational Cost Management Program
Goodwill [Line Items]
Number of clinics closed \| clinic		90
U.S. Healthcare
Goodwill [Line Items]
Impairments		$ 12,400
Asset impairment charges		$ 266
International
Goodwill [Line Items]
Impairments	$ 431

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Debt - Narrative (Details) - USD ($) $ in Millions						9 Months Ended
Debt - Narrative (Details) - USD ($) $ in Millions	Aug. 09, 2023	Dec. 19, 2022	Jun. 17, 2022	Nov. 17, 2021	Nov. 15, 2021	May 31, 2024	May 31, 2023	Aug. 31, 2023
Debt Instrument [Line Items]
Interest paid						$ 460	$ 481
Maximum
Debt Instrument [Line Items]
Debt to total capitalization ratio						0.60
Commercial paper
Debt Instrument [Line Items]
Commercial paper						$ 0		$ 0
Unsecured Notes \| 0.9500% unsecured notes due 2023
Debt Instrument [Line Items]
Face amount				$ 850
Stated interest rate				0.95%		0.95%
Redemption percentage				100.00%
Amount outstanding						$ 70		$ 0
Credit facilities
Debt Instrument [Line Items]
Remaining borrowing capacity						5,800
Credit facilities						70
Credit facilities \| August 2023 Revolving Credit Agreement
Debt Instrument [Line Items]
Face amount	$ 2,250
Debt term	3 years
Borrowing outstanding						70
Credit facilities \| August 2023 Revolving Credit Agreement \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Credit facilities \| August 2023 Revolving Credit Agreement \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Credit facilities \| Unsecured Credit Facility, Due August 2023
Debt Instrument [Line Items]
Face amount	$ 1,000
Borrowing outstanding						1,000
Credit facilities \| Unsecured Credit Facility, Due August 2023 \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Credit facilities \| Unsecured Credit Facility, Due August 2023 \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Credit facilities \| Unsecured Credit Facility, 3 Year Term, Due 2026
Debt Instrument [Line Items]
Face amount		$ 1,000
Borrowing outstanding						1,000
Credit facilities \| Unsecured Credit Facility, 3 Year Term, Due 2026 \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Credit facilities \| Unsecured Credit Facility, 3 Year Term, Due 2026 \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.875%
Credit facilities \| June 17, 2022 Revolving Credit Facility, Five-Year Term
Debt Instrument [Line Items]
Face amount			$ 3,500
Debt term			5 years
Borrowing outstanding						0
Credit facilities \| June 17, 2022 Revolving Credit Facility, 18-Month Facility
Debt Instrument [Line Items]
Face amount			$ 1,500
Debt term			18 months
Credit facilities \| June 17, 2022 Revolving Credit Facility, 18-Month Facility \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.50%
Credit facilities \| June 17, 2022 Revolving Credit Facility, 18-Month Facility \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.80%
Credit facilities \| Delayed Draw Term Loan \| Term Loan
Debt Instrument [Line Items]
Face amount					$ 5,000
Credit facilities \| Delayed Draw Term Loan Credit Facility, 364-Day Facility \| Term Loan
Debt Instrument [Line Items]
Face amount					$ 2,000
Debt term					364 days
Debt instrument, basis spread on variable rate					0.75%
Credit facilities \| Delayed Draw Term Loan Credit Facility, Two-Year Facility
Debt Instrument [Line Items]
Face amount					$ 2,000
Credit facilities \| Delayed Draw Term Loan Credit Facility, Two-Year Facility \| Term Loan
Debt Instrument [Line Items]
Debt term					2 years
Debt instrument, basis spread on variable rate					0.88%
Amount outstanding						$ 290
Credit facilities \| Delayed Draw Term Loan Credit Facility, Three-Year Facility
Debt Instrument [Line Items]
Face amount					$ 1,000
Credit facilities \| Delayed Draw Term Loan Credit Facility, Three-Year Facility \| Term Loan
Debt Instrument [Line Items]
Debt term					3 years
Credit facilities \| Term Loan
Debt Instrument [Line Items]
Face amount					$ 3,000
Credit facilities \| Term Loan \| June 17, 2022 Revolving Credit Facility, Five-Year Term
Debt Instrument [Line Items]
Debt term			5 years
Credit facilities \| Term Loan \| June 17, 2022 Revolving Credit Facility, 18-Month Facility
Debt Instrument [Line Items]
Debt term			18 years
Credit facilities \| Term Loan \| Delayed Draw Term Loan Credit Facility, Three-Year Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.05%

Supplemental information - Depreciation and Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Supplemental Cash Flow Elements [Abstract]
Depreciation expense	$ 369	$ 372	$ 1,120	$ 1,068
Intangible assets amortization	238	226	717	583
Total depreciation and amortization expense	$ 607	$ 598	$ 1,837	$ 1,652

Goodwill and other intangible assets - Schedule of Finite-Lived Intangible Assets by Major Class (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	$ 10,532	$ 10,767
Accumulated amortization	3,162	2,609
Total amortizable intangible assets, net	7,370	8,158
Indefinite-lived intangible assets	5,466	5,477
Total intangible assets, net	12,836	13,635
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	4,640	4,650
Pharmacy licenses
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	826	828
Customer relationships and loyalty card holders
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	4,688	4,658
Accumulated amortization	2,014	1,784
Provider networks
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	2,957	3,202
Accumulated amortization	362	233
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	2,303	2,300
Accumulated amortization	528	401
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	469	469
Accumulated amortization	201	143
Others
Finite-Lived Intangible Assets [Line Items]
Gross amortizable intangible assets	114	137
Accumulated amortization	$ 57	$ 48

Accounting policies (Policies)	9 Months Ended
Accounting policies (Policies)	May 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Consolidated Condensed Financial Statements of Walgreens Boots Alliance, Inc. and its subsidiaries (“Walgreens Boots Alliance” or the “Company”) included herein have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The Consolidated Condensed Financial Statements include all subsidiaries in which the Company holds a controlling interest and certain variable interest entities (“VIEs”) for which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments in less than majority-owned companies if the investment provides the ability to exercise significant influence. All intercompany transactions have been eliminated. The Consolidated Condensed Financial Statements included herein are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited financial statements and the notes thereto included in the Walgreens Boots Alliance Annual Report on Form 10-K for the fiscal year ended August 31, 2023, as amended by Form 10-K/A for the fiscal year ended August 31, 2023 filed on November 22, 2023. The preparation of financial statements in accordance with GAAP requires management to use judgment in the application of accounting policies, including making estimates and assumptions. The Company bases its estimates on the information available at the time, its experiences and various other assumptions believed to be reasonable under the circumstances. Adjustments may be made in subsequent periods to reflect more current estimates and assumptions about matters that are inherently uncertain. Actual results may differ. In the opinion of management, the unaudited Consolidated Condensed Financial Statements for the interim periods presented include all adjustments necessary to present a fair statement of the results for such interim periods. Adverse global macroeconomic conditions, the impact of opioid-related claims and litigation settlements, the influence of certain holidays, seasonality, foreign currency rates, changes in vendor, payor and customer relationships and terms, strategic transactions including acquisitions and dispositions, asset impairments, changes in laws and regulations in the markets in which the Company operates and other factors on the Company’s operations and net earnings for any period may not be comparable to the same period in previous years. Certain amounts in the Consolidated Condensed Financial Statements and accompanying notes may not sum due to rounding. Percentages have been calculated using unrounded amounts for all periods presented. Certain prior period data has been reclassified in the Consolidated Condensed Financial Statements and accompanying notes to conform to the current period presentation.
Adoption of new accounting pronouncements; New accounting pronouncements not yet adopted	New accounting pronouncements Adoption of new accounting pronouncements Acquired contract assets and contract liabilities in a business combination In October 2021, the FASB issued Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). This ASU is expected to reduce diversity in practice and increase comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. This ASU is effective for business combinations completed in fiscal years beginning after December 15, 2022 (fiscal 2024). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's results of operations, cash flows, or financial position. Liabilities — Supplier Finance Programs In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations. This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is expected to improve financial reporting by requiring new disclosures about the programs, thereby allowing financial statement users to better consider the effect of the programs on an entity’s working capital, liquidity, and cash flows. This ASU is effective for fiscal years beginning after December 15, 2022 (fiscal 2024), except for the amendment on roll forward information which is effective for fiscal years beginning after December 15, 2023 (fiscal 2025). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's disclosures within these Consolidated Condensed Financial Statements. New accounting pronouncements not yet adopted Leases — Common Control Arrangements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842) – Common Control Arrangements. The ASU amends the accounting for leasehold improvements in common control arrangements by requiring a lessee in a common control lease arrangement to amortize leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease. Further, a lessee that no longer controls the use of the underlying asset will derecognize the remaining carrying amount of the improvements through an adjustment to equity, reflecting the transfer of the asset to the lessor under common control. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025), including interim periods within those fiscal years. Early adoption is permitted in any annual or interim period as of the beginning of the related fiscal year. The Company is evaluating the effect of adopting this new accounting guidance. Segment Reporting - Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. This ASU is expected to improve disclosures related to an entity’s reportable segments and provide additional, more detailed information about a reportable segment’s expenses. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025) and interim periods within fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance. Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU is expected to enhance the transparency and decision usefulness of income tax disclosures by requiring public business entities on an annual basis to disclose specific categories in the rate reconciliation, additional information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU are required to be applied on a prospective basis and retrospective adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance.

Accumulated other comprehensive loss (Tables)

9 Months Ended

May 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The following is a summary of net changes in accumulated other comprehensive income (loss) (“AOCI”) by component and net of tax for the three and nine months ended May 31, 2024 and May 31, 2023 (in millions):


	Pension/ post-retirement obligations		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at February 29, 2024	$	(608)	$	85	$	(100)	$	(2,274)	$	(2,897)
Other comprehensive (loss) income before reclassification adjustments	(3)		(13)		(16)		20		(13)
Amounts reclassified from AOCI	(3)		3		10		—		10
Tax benefit (provision)	2		3		2		—		6
Net change in other comprehensive (loss) income	(5)		(8)		(4)		20		3
Balance at May 31, 2024	$	(613)	$	77	$	(104)	$	(2,254)	$	(2,894)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2023	$	(698)	$	(6)	$	83	$	(132)	$	(2,240)	$	(2,993)
Other comprehensive income (loss) before reclassification adjustments	124		—		(6)		(3)		(11)		104
Amounts reclassified from AOCI	(10)		5		(1)		39		(3)		30
Tax (provision) benefit	(30)		—		2		(6)		—		(34)
Net change in other comprehensive income (loss)	85		5		(6)		29		(14)		100
Balance at May 31, 2024	$	(613)	$	—	$	77	$	(104)	$	(2,254)	$	(2,894)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at February 28, 2023	$	(167)	$	(5)	$	140	$	(162)	$	(2,461)	$	(2,654)
Other comprehensive (loss) income before reclassification adjustments	—		(2)		(42)		16		143		115
Amounts reclassified from AOCI	(7)		1		—		(1)		(2)		(9)
Tax benefit (provision)	2		—		10		(4)		—		9
Net change in other comprehensive (loss) income	(5)		(1)		(31)		12		141		115
Balance at May 31, 2023	$	(171)	$	(6)	$	108	$	(150)	$	(2,320)	$	(2,539)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2022	$	(157)	$	(2)	$	213	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	—		(6)		(138)		(8)		301		149
Amounts reclassified from AOCI	(20)		2		—		149		(16)		115
Tax benefit (provision)	5		1		33		(37)		—		2
Net change in other comprehensive (loss) income	(15)		(4)		(104)		104		285		266
Balance at May 31, 2023	$	(171)	$	(6)	$	108	$	(150)	$	(2,320)	$	(2,539)

Segment reporting (Tables)

9 Months Ended

May 31, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Income (Loss) from Segments to Consolidated

The following table reflects results of operations of the Company’s reportable segments (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Sales:



U.S. Retail Pharmacy	$	28,503	$	27,866	$	86,308	$	82,648





International	5,727		5,573		17,581		16,414

U.S. Healthcare	2,125		1,975		6,232		4,597
Corporate and Other 1	(3)		—		(9)		—
Walgreens Boots Alliance, Inc.	$	36,351	$	35,415	$	110,111	$	103,659

Adjusted operating income:
U.S. Retail Pharmacy	$	501	$	962	$	1,947	$	3,134
International	175		208		562		676
U.S. Healthcare	(22)		(172)		(151)		(483)
Corporate and Other 1	(42)		(39)		(158)		(139)
Walgreens Boots Alliance, Inc.	$	613	$	959	$	2,200	$	3,188

1.Includes certain eliminations.

The following table reconciles adjusted operating income to operating income (loss) (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Adjusted operating income (Non-GAAP measure)	$	613	$	959	$	2,200	$	3,188
Acquisition-related amortization	(266)		(274)		(811)		(851)
Transformational cost management	(95)		(414)		(401)		(697)
Acquisition-related costs	(68)		(70)		(480)		(257)
Adjustments to equity earnings in Cencora	(57)		(61)		(129)		(178)
Certain legal and regulatory accruals and settlements	(52)		(268)		(376)		(7,249)
LIFO provision	36		(51)		(11)		(89)
Impairment of goodwill, intangibles and long-lived assets	—		(299)		(13,091)		(299)
Operating income (loss) (GAAP measure)	$	111	$	(477)	$	(13,099)	$	(6,431)

Exit and disposal activities - Narrative (Details) $ in Millions			3 Months Ended			6 Months Ended	9 Months Ended
	Oct. 12, 2021 USD ($) store	Dec. 20, 2018 USD ($)	Feb. 29, 2024 USD ($) clinic	Nov. 30, 2023 USD ($)	Nov. 30, 2022 USD ($)	Feb. 29, 2024 USD ($) clinic	May 31, 2024 USD ($) store	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Aug. 31, 2022 USD ($)	Sep. 01, 2019 USD ($)
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings			$ (15,192)			$ (15,192)	$ (15,257)	$ (28,322)	$ (29,359)	$ (29,439)	$ (29,366)
Software and Software Development Costs
Restructuring Cost and Reserve [Line Items]
Asset impairment charges			455
Retained Earnings
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings			$ (26,448)			$ (26,448)	(26,571)	(33,058)	$ (33,654)	$ (33,952)	$ (37,801)
Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Costs incurred							$ 3,500
Number of clinics closed \| clinic						160
Transformational Cost Management Program \| Retained Earnings \| Adoption of New Accounting Standards
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings												$ 508
Transformational Cost Management Program \| United Kingdom
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close \| store	650
Number of stores closed \| store							581
Transformational Cost Management Program \| UNITED STATES
Restructuring Cost and Reserve [Line Items]
Number of stores closed \| store							673
Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Number of clinics closed \| clinic			90
Impairment						$ 303
Lease Obligations and Other Real Estate Costs \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Costs incurred							$ 1,300
Asset Impairments \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Costs incurred							950
Employee Severance and Business Transition Costs \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Costs incurred							959
Information Technology Transformation and Other Exit Costs \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Costs incurred							$ 275
Minimum \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected annual cost savings of restructuring plan	$ 3,300	$ 2,000			$ 3,300
Expected cost								4,100
Minimum \| Transformational Cost Management Program \| UNITED STATES
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close \| store	650
Minimum \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected annual cost savings of restructuring plan				$ 3,500
Minimum \| Exit and Disposal Costs \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected cost								3,800
Maximum \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected cost								4,400
Maximum \| Transformational Cost Management Program \| UNITED STATES
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close \| store	700
Maximum \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected annual cost savings of restructuring plan				$ 4,500	$ 3,500
Maximum \| Exit and Disposal Costs \| Transformational Cost Management Program
Restructuring Cost and Reserve [Line Items]
Expected cost								$ 4,100

Goodwill and other intangible assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Millions	May 31, 2024 USD ($)
Estimated annual intangible assets amortization expense [Abstract]
2024 (Remaining period)	$ 235
2025	915
2026	875
2027	791
2028	714
2029	$ 657

Financial instruments

9 Months Ended

May 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial instruments

The Company uses derivative instruments to hedge its exposure to market risks, including interest rate and currency risks, arising from operating and financing risks. The Company has non-U.S. dollar denominated net investments and uses foreign currency denominated financial instruments, specifically foreign currency derivatives and foreign currency denominated debt, to hedge its foreign currency risk.

The Company economically hedges a portion of its exposure to equity price risk related to its investment in Cencora through VPF derivative contracts.

The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):


May 31, 2024	Notional		Fair Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	400	$	8	Other current assets
Foreign currency forwards	283		1		Other current assets
Cross currency interest rate swaps	250		10		Other non-current assets
Foreign currency forwards	4		—		Other non-current assets
Foreign currency forwards	614		2		Other current liabilities
Foreign currency forwards	2		—		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	1,593	$	1	Other current assets
Total return swaps	159		1		Other current assets
Foreign currency forwards	2,415		9		Other current liabilities
Total return swaps	43		—		Other current liabilities
Variable prepaid forward contracts	408		407		Other current liabilities
Variable prepaid forward contracts	3,318		3,298		Other non-current liabilities


August 31, 2023	Notional		Fair Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards	$	31	$	1	Other current assets
Cross currency interest rate swaps	650		28		Other non-current assets
Foreign currency forwards	805		2		Other current liabilities
Cross currency interest rate swaps	102		2		Other current liabilities
Foreign currency forwards	4		—		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	3,139	$	6	Other current assets
Total return swaps	168		1		Other current assets
Foreign currency forwards	817		2		Other current liabilities
Total return swaps	26		1		Other current liabilities
Variable prepaid forward contracts	3,195		2,548		Other non-current liabilities

Net investment hedges

The Company uses cross currency interest rate swaps and foreign currency forward contracts to hedge net investments in subsidiaries with non-U.S. dollar functional currencies. For qualifying net investment hedges, changes in the fair value of the derivatives are recorded in Cumulative translation adjustments within Accumulated other comprehensive loss in the Consolidated Condensed Balance Sheets.

Cash flow hedges

The Company may use foreign currency forwards and interest rate swaps to hedge the variability in forecasted transactions and cash flows of certain floating-rate debt. For qualifying cash flow hedges, changes in the fair value of the derivatives are recorded in Unrealized gain (loss) on cash flow hedges within Accumulated other comprehensive loss in the Consolidated Condensed Balance Sheets, and released to the Consolidated Condensed Statements of Earnings when the hedged cash flows affect earnings.

Derivatives not designated as hedges

The Company enters into derivative transactions that are not designated as accounting hedges. These derivative instruments are economic hedges of foreign currency risks and equity price risk. The Company also uses total return swaps to economically hedge variability in compensation charges related to certain deferred compensation obligations.

In fiscal 2023 and fiscal 2024, the Company entered into VPF transactions with third-party financial institutions and received upfront prepayments related to the forward sale of shares of Cencora common stock. The upfront prepayments are recorded within Other non-current liabilities in the Consolidated Condensed Balance Sheets as derivatives. The Company has pledged shares of Cencora common stock as collateral upon entering into the VPF transactions. The VPF transactions provide the Company with current liquidity while allowing it to maintain voting and dividend rights in the Cencora common stock, as well as the ability to participate in future stock price appreciation during the term of the contracts up to a cap price specified in the contracts. The VPF transactions are expected to settle per their respective forward settlement dates, at which time the Company will be obligated, unless it elects to settle otherwise as described below, to deliver the full number of shares of Cencora common stock specified in the contracts to settle the agreements. The Company may receive additional cash payments to be determined based on the price of the Cencora common stock at the forward settlement dates relative to the forward floor and cap price specified in the contracts. Subject to certain conditions, the Company may elect to net settle the contract by delivery of shares (or payment of the cash value thereof) in lieu of receiving any additional cash. The aggregate number of Cencora shares to be delivered in connection with the VPF transactions will not exceed the shares subject to forward sale.

The terms of the VPF transactions were as follows (in millions):


Transaction date	Shares pledged and maximum shares subject to forward sale	Prepayment amount		Forward settlement date
May 11, 2023	4.6	$	644	Fourth quarter, fiscal 2025
June 15, 2023	2.2	325		Third quarter, fiscal 2025
August 3, 2023	5.3	801		First quarter, fiscal 2026
August 4, 2023	5.3	797		Third quarter, fiscal 2026
November 9, 2023	2.7	424		Fourth quarter, fiscal 2026
	20.0	$	2,991

The income (expense) due to changes in fair value of derivative instruments were recognized in the Consolidated Condensed Statements of Earnings as follows (in millions):


		Three months ended May 31,				Nine months ended May 31,
	Location in Consolidated Condensed Statements of Earnings	2024		2023		2024	2023
Total return swaps	Selling, general and administrative expenses	$	2	$	2	19	$	2
Foreign currency forwards	Other income, net 1	(14)		(112)		19	(203)
Variable prepaid forward	Other income, net	155		(26)		(733)	(26)

1.Excludes remeasurement gains and losses on economically hedged assets and liabilities.

Derivatives credit risk

Counterparties to derivative financial instruments expose the Company to credit-related losses in the event of counterparty nonperformance, and the Company regularly monitors the credit worthiness of each counterparty. The Company and its counterparties are subject to collateral requirements for certain derivative instruments which mitigates credit risk for both parties.

Derivatives offsetting

The Company does not offset the fair value amounts of derivative instruments subject to master netting agreements in the Consolidated Condensed Balance Sheets.

Leases - Other Supplemental Information (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2024	May 31, 2023
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$ 2,779	$ 2,668
Operating cash flows from finance leases	37	35
Financing cash flows from finance leases	52	38
Total	2,867	2,741
Right-of-use assets obtained in exchange for new lease obligations
Operating leases	1,235	1,773
Finance leases	55	23
Total	$ 1,290	$ 1,796

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	May 31, 2024	May 31, 2023
Cash flows from operating activities:
Net earnings (loss)	$ (12,370)	$ (3,320)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:
Depreciation and amortization	1,837	1,652
Deferred income taxes	(1,242)	(2,098)
Stock compensation expense	143	348
Earnings from equity method investments	(179)	(206)
Impairment of goodwill, intangibles and long-lived assets	13,618	815
Gain on sale of equity method investments	(847)	(1,691)
Gain on sale-leaseback transactions	(268)	(825)
Loss on variable prepaid forward contracts	733	26
Other	(151)	(124)
Changes in certain assets and liabilities:
Accounts receivable, net	(592)	(411)
Inventories	(315)	326
Other current assets	58	(184)
Trade accounts payable	446	627
Accrued expenses and other liabilities	(474)	(588)
Income taxes	167	216
Accrued litigation obligations	(330)	6,835
Other non-current assets and liabilities	(548)	(179)
Net cash (used for) provided by operating activities	(314)	1,219
Cash flows from investing activities:
Additions to property, plant and equipment	(1,135)	(1,633)
Proceeds from sale-leaseback transactions	773	1,549
Proceeds from sale of other assets	1,726	3,798
Business, investment and asset acquisitions, net of cash acquired	(206)	(7,072)
Other	(53)	110
Net cash provided by (used for) investing activities	1,106	(3,249)
Cash flows from financing activities:
Net change in short-term debt with maturities of 3 months or less	(1)	147
Proceeds from debt	23,074	5,240
Payments of debt	(23,128)	(5,232)
Acquisition of non-controlling interests	0	(1,316)
Proceeds from issuance of non-controlling interests	0	2,735
Proceeds from variable prepaid forward contracts	424	644
Treasury stock purchases	(69)	(150)
Cash dividends paid	(1,044)	(1,244)
Other	(168)	(251)
Net cash (used for) provided by financing activities	(912)	573
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3	17
Changes in cash, cash equivalents and restricted cash:
Net decrease in cash, cash equivalents and restricted cash	(117)	(1,441)
Cash, cash equivalents and restricted cash at beginning of period	856	2,558
Cash, cash equivalents and restricted cash at end of period	$ 740	$ 1,117

Leases - Narrative (Details) $ in Millions	May 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Term of renewal contract	5 years
Undiscounted minimum lease payments, payments associated with options to extend lease terms	$ 3,600
Lessor, operating lease, payments to be received	$ 597
Minimum
Lessee, Lease, Description [Line Items]
Term of lease	10 years
Maximum
Lessee, Lease, Description [Line Items]
Term of lease	25 years

Retirement benefits - Schedule of Net Periodic Pension Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Retirement Benefits [Abstract]
Service costs	$ 1	$ 1	$ 3	$ 3
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income, net		Other income, net
Interest costs	$ 68	64	$ 202	186
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income, net		Other income, net
Expected returns on plan assets/other	$ (70)	(81)	$ (206)	(237)
Total net periodic pension income	$ (1)	$ (17)	$ (1)	$ (48)

Acquisitions and other Investments (Tables)

9 Months Ended

May 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the consideration for the acquisition and the amounts of identified assets acquired and liabilities assumed at the date of the transaction (in millions):


Purchase price allocation
Cash consideration 1	$	4,778
Deferred consideration	100
Summit debt paid at closing	1,963
Fair value of equity consideration 2	1,971
Fair value of non-controlling interests	13
Total	$	8,825

Identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	69
Accounts receivable, net	381

Property, plant and equipment	607
Intangible assets 3	3,359
Operating lease right-of-use assets	756
Other assets	174

Operating lease obligations	(773)
Deferred tax liability	(735)
Other liabilities	(466)
Total identifiable net assets	$	3,372

Goodwill	$	5,454

1.Cash consideration excludes $87 million of cash paid to fund acquisition-related bonuses to Summit employees which was recognized as compensation expense of the Company.

2.The fair value of the non-controlling interests was calculated based on the implied equity value of VillageMD, allocated to all units on an as-converted basis.

3.Intangibles acquired include provider networks and trade names with fair values of $1.9 billion and $1.5 billion, respectively. Estimated useful lives are 15 years and 11 to 15 years, respectively.

Schedule of Pro Forma Information

The following table represents unaudited supplemental pro forma consolidated sales for the three and nine months ended May 31, 2023, as if the acquisition of Summit had occurred at the beginning of each period presented. The unaudited pro forma information has been prepared for comparative purposes only and is not intended to be indicative of what the Company's results would have been had the acquisition occurred at the beginning of each period presented or results which may occur in the future.


	Three months ended May 31,		Nine months ended May 31,
(Unaudited, in millions)	2023		2023
Sales	$	35,415	$	104,630

Actual sales of Summit, from the acquisition date, for the three and nine months ended May 31, 2023, included in the Consolidated Condensed Statements of Earnings are as follows:


	Three months ended May 31,		Nine months ended May 31,
(Unaudited, in millions)	2023		2023
Sales	$	730	$	1,193

Exit and disposal activities - Restructuring Costs (Details) - Transformational Cost Management Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	$ 96	$ 414	$ 368	$ 682
Reportable segments \| U.S. Retail Pharmacy
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	80	104	320	354
Reportable segments \| International
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	14	193	37	204
Reportable segments \| U.S. Healthcare
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	1	113	5	113
Corporate and Other
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	1	4	6	11
Lease obligations and other real estate costs
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	38	53	194	151
Lease obligations and other real estate costs \| Reportable segments \| U.S. Retail Pharmacy
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	37	35	192	133
Lease obligations and other real estate costs \| Reportable segments \| International
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	1	18	2	18
Lease obligations and other real estate costs \| Reportable segments \| U.S. Healthcare
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	0	0	0
Lease obligations and other real estate costs \| Corporate and Other
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	0	0	0
Asset impairments
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	17	272	66	385
Asset impairments \| Reportable segments \| U.S. Retail Pharmacy
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	17	12	45	127
Asset impairments \| Reportable segments \| International
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	150	21	149
Asset impairments \| Reportable segments \| U.S. Healthcare
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	109	0	109
Asset impairments \| Corporate and Other
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	0	0	0
Employee severance and business transition costs
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	26	71	86	102
Employee severance and business transition costs \| Reportable segments \| U.S. Retail Pharmacy
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	20	50	71	72
Employee severance and business transition costs \| Reportable segments \| International
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	4	13	4	15
Employee severance and business transition costs \| Reportable segments \| U.S. Healthcare
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	1	4	5	4
Employee severance and business transition costs \| Corporate and Other
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	1	4	6	11
Information technology transformation and other exit costs
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	14	19	21	45
Information technology transformation and other exit costs \| Reportable segments \| U.S. Retail Pharmacy
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	5	7	11	23
Information technology transformation and other exit costs \| Reportable segments \| International
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	9	12	10	22
Information technology transformation and other exit costs \| Reportable segments \| U.S. Healthcare
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	0	0	0	0
Information technology transformation and other exit costs \| Corporate and Other
Restructuring Cost and Reserve [Line Items]
Total pre-tax exit and disposal charges	$ 0	$ 0	$ 0	$ 0

Fair value measurements (Tables)

9 Months Ended

May 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis were as follows (in millions):


	May 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	32	$	32	$	—	$	—
Cross currency interest rate swaps 2	18		—		18		—
Foreign currency forwards 3	2		—		2		—
Investments in equity securities 4	13		13		—		—
Investments in debt securities 5	84		—		84		—

Total return swaps	1		—		1		—

Liabilities:
Variable prepaid forward 6	$	3,705	$	—	$	—	$	3,705
Foreign currency forwards 3	11		—		11		—


	August 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	11	$	11	$	—	$	—
Cross currency interest rate swaps 2	28		—		28		—
Foreign currency forwards 3	6		—		6		—
Investments in equity securities 4	17		17		—		—
Investments in debt securities 5	15		—		15		—
Total return swaps	1		—		1		—
Liabilities:
Variable prepaid forward 6	$	2,548	$	—	$	—	$	2,548
Foreign currency forwards 3	5		—		5		—
Total return swaps	1		—		1		—
Cross currency interest rate swaps 2	2		—		2		—

1Money market funds are valued at the closing price reported by the fund sponsor and classified as Cash and cash equivalents within the Consolidated Condensed Balance Sheets.

2The fair value of cross currency interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 8. Financial instruments, for additional information.

3The fair value of forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates. See Note 8. Financial instruments, for additional information.

4Fair values of quoted investments are based on current bid prices as of May 31, 2024 and August 31, 2023.

5Includes investments in Treasury debt securities.

6The fair value of the derivative was derived from a Black-Scholes valuation. The inputs used in valuing the derivative included observable inputs such as the floor and cap prices of the VPF, dividend yield of Cencora shares, risk free interest rate, and contractual term of the instrument, as well as unobservable inputs such as implied volatility of Cencora shares. The implied volatility ranged from 24.7% - 29.0% for the lower strike and 19.4% - 22.2% for the upper strike as of May 31, 2024, and 23.2% - 24.7% for the lower strike and 18.1% - 19.1% for the upper strike as of August 31, 2023.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The roll forward of the fair value of the VPF derivatives associated with the forward sale of shares of Cencora common stock, classified as Level 3, is as follows (in millions):


	Three months ended		Nine months ended
	May 31, 2024		May 31, 2024
Opening balance	$	(3,861)	$	(2,548)
VPF derivative additions	—		(424)
Unrealized gains (losses) recorded in Other income, net	155		(733)
Ending balance	$	(3,705)	$	(3,705)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income taxes (Details) - USD ($) $ in Millions	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 02, 2012
Effective Income Tax Rate Reconciliation [Line Items]
Effective tax rate	8.00%	86.30%	6.30%	33.80%
Income taxes paid			$ 238	$ 170
Estimate of possible loss	$ 2,700
Alliance Boots
Effective Income Tax Rate Reconciliation [Line Items]
Outstanding equity interest percentage					45.00%
Option to acquire outstanding equity percentage					55.00%
Option to acquire outstanding equity, value					$ 866

Exit and disposal activities (Tables)

9 Months Ended

May 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Costs related to exit and disposal activities under the Transformational Cost Management Program for the three and nine months ended May 31, 2024 and May 31, 2023, respectively, were as follows (in millions):


Three months ended May 31, 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	37	$	1	$	—	$	—	$	38
Asset impairments	17		—		—		—		17
Employee severance and business transition costs	20		4		1		1		26
Information technology transformation and other exit costs	5		9		—		—		14
Total pre-tax exit and disposal charges	$	80	$	14	$	1	$	1	$	96


Nine months ended May 31, 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	192	$	2	$	—	$	—	$	194
Asset impairments	45		21		—		—		66
Employee severance and business transition costs	71		4		5		6		86
Information technology transformation and other exit costs	11		10		—		—		21
Total pre-tax exit and disposal charges	$	320	$	37	$	5	$	6	$	368


Three months ended May 31, 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	35	$	18	$	—	$	—	$	53
Asset impairments	12		150		109		—		272
Employee severance and business transition costs	50		13		4		4		71
Information technology transformation and other exit costs	7		12		—		—		19
Total pre-tax exit and disposal charges	$	104	$	193	$	113	$	4	$	414


Nine months ended May 31, 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	133	$	18	$	—	$	—	$	151
Asset impairments	127		149		109		—		385
Employee severance and business transition costs	72		15		4		11		102
Information technology transformation and other exit costs	23		22		—		—		45
Total pre-tax exit and disposal charges	$	354	$	204	$	113	$	11	$	682

Change in Restructuring Liabilities

The changes in liabilities and assets related to the exit and disposal activities under Transformational Cost Management Program include the following (in millions):


	Lease obligations and other real estate costs		Asset impairments		Employee severance and business transition costs		Information technology transformation and other exit costs		Total
Balance at August 31, 2023	$	10	$	—	$	70	$	22	$	102
Costs	194		66		86		21		368
Payments	(129)		—		(98)		(41)		(268)
Other	(66)		(66)		—		—		(133)
Balance at May 31, 2024	$	10	$	—	$	57	$	2	$	69

Supplemental information (Tables)

9 Months Ended

May 31, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Depreciation and Amortization Expense

The Company has recorded the following depreciation and amortization expense in the Consolidated Condensed Statements of Earnings (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Depreciation expense	$	369	$	372	$	1,120	$	1,068
Intangible assets amortization	238		226		717		583
Total depreciation and amortization expense	$	607	$	598	$	1,837	$	1,652

Restrictions on Cash and Cash Equivalents

The following represents a reconciliation of Cash and cash equivalents in the Consolidated Condensed Balance Sheets to total Cash, cash equivalents and restricted cash in the Consolidated Condensed Statements of Cash Flows as of May 31, 2024 and August 31, 2023, respectively (in millions):


	May 31, 2024		August 31, 2023
Cash and cash equivalents	$	703	$	739
Cash and cash equivalents - assets held for sale (included in other current assets)	—		24
Restricted cash - (included in other current and non-current assets)	37		93
Cash, cash equivalents and restricted cash	$	740	$	856

Schedule of Redeemable Noncontrolling Interest

The following represents a roll forward of the redeemable non-controlling interests in the Consolidated Condensed Balance Sheets (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Opening balance	$	172	$	158	$	167	$	1,042

Net (loss) income attributable to Redeemable non-controlling interests	(1)		—		1		(24)
Redemption price adjustments and other 1	1		2		5		456
Reclassifications to Accrued expenses and other liabilities 2	—		—		—		(1,314)
Ending balance	$	173	$	160	$	173	$	160

1.Remeasurement of non-controlling interests, probable of redemption but not currently redeemable, to their redemption value, is recorded in Paid in capital within the Consolidated Condensed Balance Sheets. During the three months ended

November 30, 2022, Shields and CareCentrix redeemable non-controlling interests were recorded to redemption value as the Company announced the acceleration of its plans for their full ownership.

2.Represents the reclassification of the Shields and CareCentrix redeemable non-controlling interests to Accrued expenses and other liabilities within the Consolidated Condensed Balance Sheets, resulting from the Company's full acquisition of Shields and CareCentrix.

Schedule of Dividends Payable

Cash dividends per common share declared were as follows:


Quarter ended	2024		2023
November	$	0.4800	$	0.4800
February	$	0.2500	$	0.4800
May	$	0.2500	$	0.4800
Total	$	0.9800	$	1.4400

Fair value measurements - Fair Value Roll Forward (Details) - Derivative Financial Instruments, Liabilities - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	May 31, 2024	May 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	$ (3,861)	$ (2,548)
VPF derivative additions	0	(424)
Unrealized gains (losses) recorded in Other income, net	155	(733)
Ending balance	$ (3,705)	$ (3,705)

Accumulated other comprehensive loss

9 Months Ended

May 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive loss


	Pension/ post-retirement obligations		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at February 29, 2024	$	(608)	$	85	$	(100)	$	(2,274)	$	(2,897)
Other comprehensive (loss) income before reclassification adjustments	(3)		(13)		(16)		20		(13)
Amounts reclassified from AOCI	(3)		3		10		—		10
Tax benefit (provision)	2		3		2		—		6
Net change in other comprehensive (loss) income	(5)		(8)		(4)		20		3
Balance at May 31, 2024	$	(613)	$	77	$	(104)	$	(2,254)	$	(2,894)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2023	$	(698)	$	(6)	$	83	$	(132)	$	(2,240)	$	(2,993)
Other comprehensive income (loss) before reclassification adjustments	124		—		(6)		(3)		(11)		104
Amounts reclassified from AOCI	(10)		5		(1)		39		(3)		30
Tax (provision) benefit	(30)		—		2		(6)		—		(34)
Net change in other comprehensive income (loss)	85		5		(6)		29		(14)		100
Balance at May 31, 2024	$	(613)	$	—	$	77	$	(104)	$	(2,254)	$	(2,894)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at February 28, 2023	$	(167)	$	(5)	$	140	$	(162)	$	(2,461)	$	(2,654)
Other comprehensive (loss) income before reclassification adjustments	—		(2)		(42)		16		143		115
Amounts reclassified from AOCI	(7)		1		—		(1)		(2)		(9)
Tax benefit (provision)	2		—		10		(4)		—		9
Net change in other comprehensive (loss) income	(5)		(1)		(31)		12		141		115
Balance at May 31, 2023	$	(171)	$	(6)	$	108	$	(150)	$	(2,320)	$	(2,539)


	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2022	$	(157)	$	(2)	$	213	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	—		(6)		(138)		(8)		301		149
Amounts reclassified from AOCI	(20)		2		—		149		(16)		115
Tax benefit (provision)	5		1		33		(37)		—		2
Net change in other comprehensive (loss) income	(15)		(4)		(104)		104		285		266
Balance at May 31, 2023	$	(171)	$	(6)	$	108	$	(150)	$	(2,320)	$	(2,539)

Leases - Average Lease Terms And Discounts (Details)	May 31, 2024	Aug. 31, 2023
Weighted average remaining lease term in years
Operating leases	9 years 3 months 18 days	9 years 7 months 6 days
Finance leases	17 years 8 months 12 days	17 years 4 months 24 days
Weighted average discount rate
Operating leases	5.55%	5.35%
Finance leases	5.18%	5.25%

Financial instruments (Tables)

9 Months Ended

May 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts, Fair Value and Balance Sheet Presentation of Derivative Instruments Outstanding

The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):


May 31, 2024	Notional		Fair Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	400	$	8	Other current assets
Foreign currency forwards	283		1		Other current assets
Cross currency interest rate swaps	250		10		Other non-current assets
Foreign currency forwards	4		—		Other non-current assets
Foreign currency forwards	614		2		Other current liabilities
Foreign currency forwards	2		—		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	1,593	$	1	Other current assets
Total return swaps	159		1		Other current assets
Foreign currency forwards	2,415		9		Other current liabilities
Total return swaps	43		—		Other current liabilities
Variable prepaid forward contracts	408		407		Other current liabilities
Variable prepaid forward contracts	3,318		3,298		Other non-current liabilities


August 31, 2023	Notional		Fair Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards	$	31	$	1	Other current assets
Cross currency interest rate swaps	650		28		Other non-current assets
Foreign currency forwards	805		2		Other current liabilities
Cross currency interest rate swaps	102		2		Other current liabilities
Foreign currency forwards	4		—		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	3,139	$	6	Other current assets
Total return swaps	168		1		Other current assets
Foreign currency forwards	817		2		Other current liabilities
Total return swaps	26		1		Other current liabilities
Variable prepaid forward contracts	3,195		2,548		Other non-current liabilities

Schedule of Derivative Instruments

The terms of the VPF transactions were as follows (in millions):


Transaction date	Shares pledged and maximum shares subject to forward sale	Prepayment amount		Forward settlement date
May 11, 2023	4.6	$	644	Fourth quarter, fiscal 2025
June 15, 2023	2.2	325		Third quarter, fiscal 2025
August 3, 2023	5.3	801		First quarter, fiscal 2026
August 4, 2023	5.3	797		Third quarter, fiscal 2026
November 9, 2023	2.7	424		Fourth quarter, fiscal 2026
	20.0	$	2,991

Gains and (Losses) due to Changes in Fair Value Recognized in Earnings

The income (expense) due to changes in fair value of derivative instruments were recognized in the Consolidated Condensed Statements of Earnings as follows (in millions):


		Three months ended May 31,				Nine months ended May 31,
	Location in Consolidated Condensed Statements of Earnings	2024		2023		2024	2023
Total return swaps	Selling, general and administrative expenses	$	2	$	2	19	$	2
Foreign currency forwards	Other income, net 1	(14)		(112)		19	(203)
Variable prepaid forward	Other income, net	155		(26)		(733)	(26)

1.Excludes remeasurement gains and losses on economically hedged assets and liabilities.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

CONSOLIDATED CONDENSED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Common Stock	Treasury stock amount	Paid-in capital	Accumulated other comprehensive loss	Retained earnings	Non-controlling interests
Beginning balance (in shares) at Aug. 31, 2022		864,639,457
Beginning balance at Aug. 31, 2022	$ 29,366	$ 12	$ (20,683)	$ 10,950	$ (2,805)	$ 37,801	$ 4,091
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(3,296)					(2,900)	(396)
Other comprehensive income, net of tax	274				266		9
Dividends declared and distributions	(1,298)					(1,247)	(51)
Treasury stock purchases (in shares)		(4,438,228)
Treasury stock purchases	(150)		(150)
Employee stock purchase and option plans (in shares)		3,060,184
Employee stock purchase and option plans	34		102	(68)
Stock-based compensation	160			61			99
Acquisition of non-controlling interests	185			171			14
Business combination	4,518			(16)			4,534
Other	(434)			(430)			(4)
Ending balance (in shares) at May. 31, 2023		863,261,413
Ending balance at May. 31, 2023	29,359	$ 12	(20,731)	10,667	(2,539)	33,654	8,296
Beginning balance (in shares) at Feb. 28, 2023		862,795,720
Beginning balance at Feb. 28, 2023	29,439	$ 12	(20,747)	10,629	(2,654)	33,952	8,247
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(48)					118	(167)
Other comprehensive income, net of tax	121				115		6
Dividends declared and distributions	(417)					(416)	(1)
Employee stock purchase and option plans (in shares)		465,693
Employee stock purchase and option plans	12		16	(4)
Stock-based compensation	48			13			35
Acquisition of non-controlling interests	14						14
Business combination	193			27			165
Other	(2)			2			(4)
Ending balance (in shares) at May. 31, 2023		863,261,413
Ending balance at May. 31, 2023	29,359	$ 12	(20,731)	10,667	(2,539)	33,654	8,296
Beginning balance (in shares) at Aug. 31, 2023		863,673,786
Beginning balance at Aug. 31, 2023	28,322	$ 12	(20,717)	10,661	(2,993)	33,058	8,302
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(12,371)					(5,631)	(6,740)
Other comprehensive income, net of tax	100				100		0
Dividends declared and distributions	(862)					(855)	(7)
Treasury stock purchases (in shares)		(3,100,000)
Treasury stock purchases	(69)		(69)
Employee stock purchase and option plans (in shares)		2,701,251
Employee stock purchase and option plans	16		100	(85)
Stock-based compensation	126			53			72
Other	(4)			9		0	(13)
Ending balance (in shares) at May. 31, 2024		863,275,037
Ending balance at May. 31, 2024	15,257	$ 12	(20,686)	10,639	(2,894)	26,571	1,615
Beginning balance (in shares) at Feb. 29, 2024		862,713,366
Beginning balance at Feb. 29, 2024	15,192	$ 12	(20,705)	10,627	(2,897)	26,448	1,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	230					344	(113)
Other comprehensive income, net of tax	5				3		1
Dividends declared and distributions	(220)					(220)	0
Employee stock purchase and option plans (in shares)		561,671
Employee stock purchase and option plans	9		19	(10)
Stock-based compensation	38			20			19
Other	2			2		0	0
Ending balance (in shares) at May. 31, 2024		863,275,037
Ending balance at May. 31, 2024	$ 15,257	$ 12	$ (20,686)	$ 10,639	$ (2,894)	$ 26,571	$ 1,615

Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Sales (Details) - USD ($) $ in Millions	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 36,351	$ 35,415	$ 110,111	$ 103,659
Reportable Segments \| U.S. Retail Pharmacy
Disaggregation of Revenue [Line Items]
Sales	28,503	27,866	86,308	82,648
Reportable Segments \| U.S. Retail Pharmacy \| Pharmacy
Disaggregation of Revenue [Line Items]
Sales	21,812	20,898	65,704	60,991
Reportable Segments \| U.S. Retail Pharmacy \| Retail
Disaggregation of Revenue [Line Items]
Sales	6,691	6,968	20,604	21,657
Reportable Segments \| International
Disaggregation of Revenue [Line Items]
Sales	5,727	5,573	17,581	16,414
Reportable Segments \| International \| Pharmacy
Disaggregation of Revenue [Line Items]
Sales	874	924	2,698	2,690
Reportable Segments \| International \| Retail
Disaggregation of Revenue [Line Items]
Sales	1,839	1,769	5,928	5,412
Reportable Segments \| International \| Wholesale
Disaggregation of Revenue [Line Items]
Sales	3,014	2,880	8,955	8,311
Reportable Segments \| U.S. Healthcare
Disaggregation of Revenue [Line Items]
Sales	2,125	1,975	6,232	4,597
Corporate and Other
Disaggregation of Revenue [Line Items]
Sales	$ (3)	$ 0	$ (9)	$ 0

Exit and disposal activities

9 Months Ended

May 31, 2024

Restructuring and Related Activities [Abstract]

Exit and disposal activities

Transformational Cost Management Program

On December 20, 2018, the Company announced a transformational cost management program that was expected to deliver in excess of $2.0 billion of annual cost savings by fiscal 2022 (the “Transformational Cost Management Program”). The Company achieved this goal at the end of fiscal 2021.

On October 12, 2021, the Company expanded and extended the Transformational Cost Management Program through the end of fiscal 2024 and increased its annual cost savings target to $3.3 billion by the end of fiscal 2024. In fiscal 2022, the Company increased its annual cost savings target from $3.3 billion to $3.5 billion, by the end of fiscal 2024. In fiscal 2023, the Company increased its annual cost savings target from $3.5 billion to $4.5 billion, by the end of fiscal 2024. We believe the Company is currently on track to achieve the savings target.

The Transformational Cost Management Program, which is multi-faceted and includes divisional optimization initiatives, global smart spending, global smart organization and the transformation of the Company’s information technology (“IT”) capabilities, is designed to help the Company achieve increased cost efficiencies. To date, the Company has taken actions across all aspects of the Transformational Cost Management Program which focus primarily on the U.S. Retail Pharmacy and International reportable segments along with the Company's global functions. Divisional optimization within the Company’s segments includes activities such as optimization of stores. Through the Transformational Cost Management Program the Company plans to reduce its presence by up to 650 Boots stores in the United Kingdom (“UK”) and approximately 650 to 700 stores in the U.S. As of May 31, 2024, the Company has closed 581 and 673 stores in the UK and U.S., respectively.

The Company estimates cumulative pre-tax charges to its GAAP financial results for the Transformational Cost Management Program to be between $4.1 billion and $4.4 billion, of which pre-tax charges for exit and disposal activities are estimated to be between $3.8 billion and $4.1 billion. In addition to the impacts discussed above, as a result of the actions related to store closures taken under the Transformational Cost Management Program, the Company recorded $508 million of transition adjustments to decrease retained earnings due to the adoption of the new lease accounting standard (Topic 842) that became effective on September 1, 2019.

From the inception of the Transformational Cost Management Program to May 31, 2024, the Company has recognized cumulative pre-tax charges to its financial results in accordance with GAAP of $3.5 billion, which were primarily recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. These charges included $1.3 billion related to lease obligations and other real estate costs, $950 million in asset impairments, $959 million in employee severance and business transition costs and $275 million of IT transformation and other exit costs.


Three months ended May 31, 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	37	$	1	$	—	$	—	$	38
Asset impairments	17		—		—		—		17
Employee severance and business transition costs	20		4		1		1		26
Information technology transformation and other exit costs	5		9		—		—		14
Total pre-tax exit and disposal charges	$	80	$	14	$	1	$	1	$	96


Nine months ended May 31, 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	192	$	2	$	—	$	—	$	194
Asset impairments	45		21		—		—		66
Employee severance and business transition costs	71		4		5		6		86
Information technology transformation and other exit costs	11		10		—		—		21
Total pre-tax exit and disposal charges	$	320	$	37	$	5	$	6	$	368


Three months ended May 31, 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	35	$	18	$	—	$	—	$	53
Asset impairments	12		150		109		—		272
Employee severance and business transition costs	50		13		4		4		71
Information technology transformation and other exit costs	7		12		—		—		19
Total pre-tax exit and disposal charges	$	104	$	193	$	113	$	4	$	414


Nine months ended May 31, 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	133	$	18	$	—	$	—	$	151
Asset impairments	127		149		109		—		385
Employee severance and business transition costs	72		15		4		11		102
Information technology transformation and other exit costs	23		22		—		—		45
Total pre-tax exit and disposal charges	$	354	$	204	$	113	$	11	$	682

The changes in liabilities and assets related to the exit and disposal activities under Transformational Cost Management Program include the following (in millions):


	Lease obligations and other real estate costs		Asset impairments		Employee severance and business transition costs		Information technology transformation and other exit costs		Total
Balance at August 31, 2023	$	10	$	—	$	70	$	22	$	102
Costs	194		66		86		21		368
Payments	(129)		—		(98)		(41)		(268)
Other	(66)		(66)		—		—		(133)
Balance at May 31, 2024	$	10	$	—	$	57	$	2	$	69

Other exit and disposal activities

During the six months ended February 29, 2024, VillageMD approved the closure of approximately 160 clinics. As a result, long-lived and intangible assets of $303 million were impaired within the U.S. Healthcare segment. The impairment charges were recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings.

During the three months ended February 29, 2024, management ceased development of, and abandoned, a multi-year internal software development project within the U.S. Retail Pharmacy segment. As a result, previously capitalized internally-developed software of $455 million was impaired. The impairment charge was recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings.

Retirement benefits

9 Months Ended

May 31, 2024

Retirement Benefits [Abstract]

Retirement benefits

The Company sponsors several retirement plans, including defined benefit plans, defined contribution plans and a post-retirement health plan.

Defined benefit pension plans (non-U.S. plans)

The Company has various defined benefit pension plans outside the U.S. The principal defined benefit pension plan is the Boots Pension Plan (the “Boots Plan”), which covers certain employees in the UK. The Boots Plan is a funded final salary defined benefit plan providing pensions and death benefits to members. The Boots Plan was closed to future accrual effective July 1, 2010, with pensions calculated based on salaries up until that date. The Boots Plan is governed by a trustee board, which is independent of the Company. The plan is subject to a full funding actuarial valuation on a triennial basis.

Boots Plan Annuitization

On November 23, 2023, with financial support from the Company, Boots Pensions Limited (“Trustee”), in its capacity as trustee of the Boots Plan, entered into a Bulk Purchase Annuity Agreement (“BPA”) with Legal & General Assurance Society Limited (“Legal & General”) to insure the benefits of all 53,000 of its members.

Under the BPA, the Trustee acquired a bulk annuity policy (the “Buy-In”) from Legal & General which will fund ongoing and future pension benefit payments to the Boots Plan members. The BPA is being funded through the existing Boots Plan assets, as well as incremental pre-tax contributions by the Company to the Boots Plan. The Company will accelerate approximately $210 million of already committed contributions to the Boots Plan, to be paid over the next two years. Additionally, the Company has committed to make an incremental contribution to the Boots Plan, which is expected to be approximately $760 million to $820 million, of which approximately $375 million was paid on December 7, 2023 and the remaining amount is expected to be paid within the next two years.

In conjunction with the Buy-In, the Boots Plan was amended resulting in an interim remeasurement of the Boots Plan. The remeasurement resulted in an increase in the funded status of the Boots Plan of $124 million. The change resulting from the remeasurement was recorded in Accumulated other comprehensive loss within the Consolidated Condensed Balance Sheets. The BPA allows for the future potential conversion of the BPA into a buy-out where Legal & General would assume full responsibility to directly provide pensions or other benefits to the Boots Plan members, at which time the Boots Plan can be terminated.

Components of net periodic pension income for the defined benefit pension plans (in millions):


		Three months ended May 31,				Nine months ended May 31,
	Location in Consolidated Condensed Statements of Earnings	2024		2023		2024		2023
Service costs	Selling, general and administrative expenses	$	1	$	1	$	3	$	3
Interest costs	Other income, net	68		64		202		186
Expected returns on plan assets/other	Other income, net	(70)		(81)		(206)		(237)
Total net periodic pension income		$	(1)	$	(17)	$	(1)	$	(48)

Defined contribution plans

The principal retirement plan for U.S. employees is the Walgreen Profit-Sharing Retirement Trust, to which both the Company and participating employees contribute. The Company’s contribution is in the form of a guaranteed match which is made pursuant to the applicable plan document approved by the Walgreen Co. Board of Directors. Plan activity is reviewed periodically by certain Committees of the Walgreens Boots Alliance Board of Directors. The profit-sharing provision is an expense of $55 million and $166 million for the three and nine months ended May 31, 2024, respectively, and an expense of $59 million and $184 million for the three and nine months ended May 31, 2023, respectively.

The Company also has certain contract based defined contribution arrangements. The principal one is in the UK in which both the Company and participating employees contribute. The cost recognized in the Consolidated Condensed Statements of Earnings was $23 million and $68 million for the three and nine months ended May 31, 2024, respectively, and $21 million and $62 million for the three and nine months ended May 31, 2023, respectively.

Related parties (Tables)

9 Months Ended

May 31, 2024

Schedule of Related Party Transactions

Related party transactions with Cencora (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Purchases, net	$	18,181	$	16,573	$	54,296	$	47,772


	May 31, 2024		August 31, 2023
Trade accounts payable, net of receivables	$	8,756	$	7,814

Goodwill and other intangible assets

9 Months Ended

May 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

Goodwill and indefinite-lived intangible assets are evaluated for impairment annually during the fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or intangible asset below its carrying value.

During the three months ended February 29, 2024, the Company completed a quantitative impairment analysis for goodwill related to its VillageMD reporting unit within the U.S. Healthcare segment due to downward revisions in its longer term forecast received during the quarter, including the impact of closing approximately 90 additional clinics, slower than expected trends in patient panel growth and multi-specialty productivity trends, and recent changes in Medicare reimbursement models. These impacts were partly offset by cost savings initiatives. Based on this analysis, the Company recorded a goodwill impairment charge of $12.4 billion, prior to attribution of loss to non-controlling interests, in Operating loss within the Consolidated Condensed Statements of Earnings. The impairment charge reflects lower than previously expected longer term financial performance expectations, a reduction in the multiples for publicly traded peer companies, and increases in discount rates. As of May 31, 2024, the Company believes the carrying value of the VillageMD reporting unit approximates its fair value.

As part of the Company’s impairment analysis, fair value of the reporting unit was determined using both the income and market approaches. The income approach requires management to estimate a number of factors, including the projected future operating results, economic projections, anticipated future cash flows and discount rates. The market approach estimates fair value using comparable marketplace fair value data from within a comparable industry grouping as well as recent guideline transactions.

The determination of the fair value of the reporting units requires the Company to make significant estimates and assumptions related to the business and financial performance of the Company’s reporting units. These estimates and assumptions primarily include, but are not limited to: the selection of appropriate peer group companies, control premiums appropriate for acquisitions in the industries in which the Company competes, discount rates, terminal growth rates, forecasts of revenue, operating income, depreciation, amortization, working capital requirements and capital expenditures. Future increases in discount rates or deterioration in the observable prices for guideline companies could result in further goodwill impairment in subsequent periods.

The changes in the carrying amount of goodwill by reportable segment are as follows (in millions):


Goodwill roll forward:	U.S. Retail Pharmacy		International		U.S. Healthcare		Walgreens Boots Alliance, Inc.
August 31, 2023	$	10,947	$	1,378	$	15,863	$	28,187

Adjustments 1	—		—		19		19
Impairments	—		—		(12,369)		(12,369)
Cumulative translation adjustments and other	—		(8)		(8)		(16)
May 31, 2024	$	10,947	$	1,370	$	3,505	$	15,821

1Includes measurement period adjustments related to VillageMD's fiscal 2023 acquisitions. See Note 2. Acquisitions and other investments for further information.

The Company evaluates the recoverability of definite-lived intangible assets whenever events or changes in circumstances indicate that the carrying value of such an asset may not be recoverable. The evaluation of definite-lived intangible assets is

performed at the lowest level of identifiable cash flows. During the three months ended February 29, 2024, as a result of the factors leading to the interim goodwill impairment analysis performed, the Company evaluated VillageMD’s other intangible and long-lived assets for impairment. The assessment resulted in an impairment charge of $266 million recognized primarily within the U.S. Healthcare segment as a component of Selling, general, and administrative expenses within the Consolidated Condensed Statements of Earnings. As part of this impairment analysis, the fair values of asset groups and intangible assets were determined using the income approach.

During the three months ended May 31, 2023, as a result of pharmacy performance and the decision to close additional stores, the Company completed a quantitative impairment analysis for certain indefinite-lived intangible assets related to the Boots reporting unit within the International segment. Based on this analysis, the Company recorded an impairment loss of $431 million in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings

related to pharmacy license intangible assets.

The carrying amount and accumulated amortization of intangible assets consist of the following (in millions):


Intangible assets:	May 31, 2024		August 31, 2023
Gross amortizable intangible assets
Customer relationships and loyalty card holders 1	$	4,688	$	4,658
Provider networks	2,957		3,202
Trade names and trademarks	2,303		2,300
Developed technology	469		469
Others	114		137
Total gross amortizable intangible assets	$	10,532	$	10,767

Accumulated amortization
Customer relationships and loyalty card holders 1	$	2,014	$	1,784
Provider networks	362		233
Trade names and trademarks	528		401
Developed technology	201		143
Others	57		48
Total accumulated amortization	3,162		2,609
Total amortizable intangible assets, net	$	7,370	$	8,158

Indefinite-lived intangible assets
Trade names and trademarks	$	4,640	$	4,650
Pharmacy licenses	826		828
Total indefinite-lived intangible assets	$	5,466	$	5,477

Total intangible assets, net	$	12,836	$	13,635

1Includes purchased prescription files.

Amortization expense for intangible assets was $238 million and $717 million for the three and nine months ended May 31, 2024, respectively, and $226 million and $583 million for the three and nine months ended May 31, 2023, respectively.

Estimated future annual amortization expense for the next five fiscal years for intangible assets recorded at May 31, 2024 is as follows (in millions):


	2024 (Remaining period)		2025		2026		2027		2028		2029
Estimated annual amortization expense	$	235	$	915	$	875	$	791	$	714	$	657

Retirement benefits - Narrative (Details) $ in Millions			3 Months Ended		9 Months Ended
Retirement benefits - Narrative (Details) $ in Millions	Dec. 07, 2023 USD ($)	Nov. 23, 2023 USD ($) member	May 31, 2024 USD ($)	May 31, 2023 USD ($)	May 31, 2024 USD ($)	May 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accelerated future employer contributions		$ 210
Contributions by employer	$ 375
Plan assets, period increase					$ 124
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Profit sharing provision expense			$ 55	$ 59	166	$ 184
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Cost recognized in the consolidated condensed statements of earnings			$ 23	$ 21	$ 68	$ 62
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Number of members \| member		53,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions		$ 760
Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions		$ 820

Financial instruments - Summary of Variable Prepaid Forward Transactions (Details) - USD ($) shares in Millions, $ in Millions						9 Months Ended
	Nov. 09, 2023	Aug. 04, 2023	Aug. 03, 2023	Jun. 15, 2023	May 11, 2023	May 31, 2024	May 31, 2023
Derivatives, Fair Value [Line Items]
Proceeds from variable prepaid forward contracts						$ 424	$ 644
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Proceeds from variable prepaid forward contracts						$ 2,991
Not Designated as Hedging Instrument \| Variable Prepaid Forward Due Fourth Quarter Fiscal 2025
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)					4.6
Proceeds from variable prepaid forward contracts					$ 644
Not Designated as Hedging Instrument \| Variable Prepaid Forward Due Third Quarter Fiscal 2025
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)				2.2
Proceeds from variable prepaid forward contracts				$ 325
Not Designated as Hedging Instrument \| Variable Prepaid Forward Due First Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)			5.3
Proceeds from variable prepaid forward contracts			$ 801
Not Designated as Hedging Instrument \| Variable Prepaid Forward Due Third Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)		5.3
Proceeds from variable prepaid forward contracts		$ 797
Not Designated as Hedging Instrument \| Variable Prepaid Forward Due Fourth Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)	2.7
Proceeds from variable prepaid forward contracts	$ 424

Segment reporting (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment reporting (Details) $ in Millions	May 31, 2024 USD ($)	May 31, 2023 USD ($)	May 31, 2024 USD ($) segment	May 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			3
Segment Reporting Information [Line Items]
Sales	$ 36,351	$ 35,415	$ 110,111	$ 103,659
Adjusted operating income (Non-GAAP measure)	613	959	2,200	3,188
Acquisition-related amortization	(266)	(274)	(811)	(851)
Transformational cost management	(95)	(414)	(401)	(697)
Acquisition-related costs	(68)	(70)	(480)	(257)
Adjustments to equity earnings in Cencora	(57)	(61)	(129)	(178)
Certain legal and regulatory accruals and settlements	(52)	(268)	(376)	(7,249)
LIFO provision	36	(51)	(11)	(89)
Impairment of goodwill, intangibles and long-lived assets	0	(299)	(13,091)	(299)
Operating income (loss)	111	(477)	(13,099)	(6,431)
Reportable Segments \| U.S. Retail Pharmacy
Segment Reporting Information [Line Items]
Sales	28,503	27,866	86,308	82,648
Adjusted operating income (Non-GAAP measure)	501	962	1,947	3,134
Reportable Segments \| International
Segment Reporting Information [Line Items]
Sales	5,727	5,573	17,581	16,414
Adjusted operating income (Non-GAAP measure)	175	208	562	676
Reportable Segments \| U.S. Healthcare
Segment Reporting Information [Line Items]
Sales	2,125	1,975	6,232	4,597
Adjusted operating income (Non-GAAP measure)	(22)	(172)	(151)	(483)
Corporate and Other
Segment Reporting Information [Line Items]
Sales	(3)	0	(9)	0
Adjusted operating income (Non-GAAP measure)	$ (42)	$ (39)	$ (158)	$ (139)

Goodwill and other intangible assets (Tables)

9 Months Ended

May 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reportable segment are as follows (in millions):


Goodwill roll forward:	U.S. Retail Pharmacy		International		U.S. Healthcare		Walgreens Boots Alliance, Inc.
August 31, 2023	$	10,947	$	1,378	$	15,863	$	28,187

Adjustments 1	—		—		19		19
Impairments	—		—		(12,369)		(12,369)
Cumulative translation adjustments and other	—		(8)		(8)		(16)
May 31, 2024	$	10,947	$	1,370	$	3,505	$	15,821

1Includes measurement period adjustments related to VillageMD's fiscal 2023 acquisitions. See Note 2. Acquisitions and other investments for further information.

Schedule of Finite-Lived Intangible Assets by Major Class

The carrying amount and accumulated amortization of intangible assets consist of the following (in millions):


Intangible assets:	May 31, 2024		August 31, 2023
Gross amortizable intangible assets
Customer relationships and loyalty card holders 1	$	4,688	$	4,658
Provider networks	2,957		3,202
Trade names and trademarks	2,303		2,300
Developed technology	469		469
Others	114		137
Total gross amortizable intangible assets	$	10,532	$	10,767

Accumulated amortization
Customer relationships and loyalty card holders 1	$	2,014	$	1,784
Provider networks	362		233
Trade names and trademarks	528		401
Developed technology	201		143
Others	57		48
Total accumulated amortization	3,162		2,609
Total amortizable intangible assets, net	$	7,370	$	8,158

Indefinite-lived intangible assets
Trade names and trademarks	$	4,640	$	4,650
Pharmacy licenses	826		828
Total indefinite-lived intangible assets	$	5,466	$	5,477

Total intangible assets, net	$	12,836	$	13,635

1Includes purchased prescription files.

Schedule of Future Amortization Expense

Estimated future annual amortization expense for the next five fiscal years for intangible assets recorded at May 31, 2024 is as follows (in millions):


	2024 (Remaining period)		2025		2026		2027		2028		2029
Estimated annual amortization expense	$	235	$	915	$	875	$	791	$	714	$	657

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Commitment and contingencies (Details) $ in Millions					1 Months Ended		3 Months Ended	9 Months Ended
Commitment and contingencies (Details) $ in Millions	Jun. 18, 2024 USD ($)	Mar. 19, 2024 USD ($)	Nov. 02, 2022 USD ($)	May 05, 2022 USD ($)	Aug. 31, 2022 USD ($)	Dec. 31, 2017 case	Dec. 31, 2020 case	May 31, 2024 USD ($)	Dec. 29, 2023 USD ($)	Aug. 31, 2023 USD ($)	Aug. 23, 2023 USD ($)	Jun. 08, 2023	Nov. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Accrued litigation obligations								$ 5,890		$ 6,261
Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party		$ 988
Estimated litigation liability		79
Damages limit		$ 79
Settlement Frameworks \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability													$ 6,500
Accrued litigation obligations			$ 754
Settlement Frameworks \| Settled Litigation
Loss Contingencies [Line Items]
Estimated litigation liability								6,600
Accrued litigation obligations								5,900
Estimated litigation liability, current								744
Litigation Settlement, Percentage Of Litigating Subdivisions												99.50%
Settling States \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability			$ 4,800
Litigation settlement, period			15 years
Settling Tribes \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability			$ 155
Litigation settlement, period			15 years
Consolidated Cases in State of Florida \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party				$ 683
Estimated litigation liability					$ 683
Accrued litigation obligations				$ 620
Litigation settlement, period				18 years
Estimated litigation liability, current				$ 63
Ohio Combined Cases \| Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party					$ 651
Loss Contingency, New Claims Filed, Number \| case						2
Litigation Settlement, Period					15 years
Ohio Combined Cases \| Pending Litigation \| Subsequent Event
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 28
Rite Aid Merger
Loss Contingencies [Line Items]
Loss Contingency, New Claims Filed, Number \| case							2
Rite Aid Merger \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability											$ 193
Usual and Customary Pricing \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability								310
Humana \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party								$ 642
Accrued litigation obligations									$ 360

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	May 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2024	Aug. 31, 2023
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	32,000,000	32,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	3,200,000,000	3,200,000,000
Common stock, issued (in shares)	1,172,513,618	1,172,513,618
Treasury stock, at cost (in shares)	309,238,581	308,839,832

Financial instruments - Summary of Derivative Instruments (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Other current assets \| Foreign currency forwards \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 283	$ 31
Fair value, assets	1	1
Other current assets \| Foreign currency forwards \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	1,593	3,139
Fair value, assets	1	6
Other current assets \| Cross currency interest rate swaps \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	400
Fair value, assets	8
Other current assets \| Total return swaps \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	159	168
Fair value, assets	1	1
Other non-current assets \| Foreign currency forwards \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	4
Fair value, assets	0
Other non-current assets \| Cross currency interest rate swaps \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	250	650
Fair value, assets	10	28
Other current liabilities \| Foreign currency forwards \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	614	805
Fair value, liabilities	2	2
Other current liabilities \| Foreign currency forwards \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	2,415	817
Fair value, liabilities	9	2
Other current liabilities \| Cross currency interest rate swaps \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities		102
Fair value, liabilities		2
Other current liabilities \| Total return swaps \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	43	26
Fair value, liabilities	0	1
Other current liabilities \| Variable Prepaid Forward \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	408
Fair value, liabilities	407
Other non-current liabilities \| Foreign currency forwards \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, assets	2
Notional amount, liabilities		4
Fair value, assets	0
Fair value, liabilities		0
Other non-current liabilities \| Variable Prepaid Forward \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	3,318	3,195
Fair value, liabilities	$ 3,298	$ 2,548

Supplemental information - Narrative (Details) - USD ($) shares in Millions, $ in Billions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accumulated depreciation and amortization on property, plant, and equipment	$ 13.5		$ 13.5		$ 13.0
Antidilutive securities excluded from EPS calculations (in shares)	13.6	17.4	14.3	17.8
Incremental common shares attributable to dilutive effect of share-based payment arrangements			7.0	3.3
Related Party \| Cencora
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables	$ 1.2		$ 1.2		1.1
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables	$ 4.8		$ 4.8		$ 4.3

Supplemental information

9 Months Ended

May 31, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental information

Accounts receivable

Accounts receivable are stated net of allowances for doubtful accounts. Accounts receivable balances primarily consist of trade receivables due from customers, including amounts due from third party payors (e.g., pharmacy benefit managers, insurance companies and governmental agencies). Trade receivables were $4.8 billion and $4.3 billion at May 31, 2024 and August 31, 2023, respectively. Other accounts receivable balances, which consist primarily of receivables from vendors and manufacturers, including receivables from Cencora, were $1.2 billion and $1.1 billion at May 31, 2024 and August 31, 2023, respectively. See Note 16. Related parties for further information.

Depreciation and amortization

The Company has recorded the following depreciation and amortization expense in the Consolidated Condensed Statements of Earnings (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Depreciation expense	$	369	$	372	$	1,120	$	1,068
Intangible assets amortization	238		226		717		583
Total depreciation and amortization expense	$	607	$	598	$	1,837	$	1,652

Accumulated depreciation and amortization on property, plant and equipment was $13.5 billion and $13.0 billion as at May 31, 2024 and August 31, 2023, respectively.

Restricted cash

The Company is required to maintain cash deposits with certain banks which consist of deposits restricted under contractual agency agreements and cash restricted by law and other obligations. The following represents a reconciliation of Cash and cash equivalents in the Consolidated Condensed Balance Sheets to total Cash, cash equivalents and restricted cash in the Consolidated Condensed Statements of Cash Flows as of May 31, 2024 and August 31, 2023, respectively (in millions):


	May 31, 2024		August 31, 2023
Cash and cash equivalents	$	703	$	739
Cash and cash equivalents - assets held for sale (included in other current assets)	—		24
Restricted cash - (included in other current and non-current assets)	37		93
Cash, cash equivalents and restricted cash	$	740	$	856

Redeemable non-controlling interests

The following represents a roll forward of the redeemable non-controlling interests in the Consolidated Condensed Balance Sheets (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Opening balance	$	172	$	158	$	167	$	1,042

Net (loss) income attributable to Redeemable non-controlling interests	(1)		—		1		(24)
Redemption price adjustments and other 1	1		2		5		456
Reclassifications to Accrued expenses and other liabilities 2	—		—		—		(1,314)
Ending balance	$	173	$	160	$	173	$	160

November 30, 2022, Shields and CareCentrix redeemable non-controlling interests were recorded to redemption value as the Company announced the acceleration of its plans for their full ownership.

Earnings per share

The dilutive effect of outstanding stock options on earnings per share is calculated using the treasury stock method. Stock options are anti-dilutive and excluded from the earnings per share calculation if the exercise price exceeds the average market price of the common shares. There were 13.6 million and 14.3 million weighted outstanding options to purchase common shares that were anti-dilutive and excluded from the earnings per share calculation for the three and nine months ended May 31, 2024, respectively, compared to 17.4 million and 17.8 million for the three and nine months ended May 31, 2023, respectively.

Due to the anti-dilutive effect resulting from the reported net loss, an incremental 7.0 million and 3.3 million shares of potentially dilutive securities were omitted from the calculation of weighted-average common shares outstanding for the nine months ended May 31, 2024 and May 31, 2023, respectively.

Cash dividends declared per common share

Cash dividends per common share declared were as follows:


Quarter ended	2024		2023
November	$	0.4800	$	0.4800
February	$	0.2500	$	0.4800
May	$	0.2500	$	0.4800
Total	$	0.9800	$	1.4400

Sales (Tables)

9 Months Ended

May 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes the Company’s sales by segment and by major source (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
U.S. Retail Pharmacy
Pharmacy	$	21,812	$	20,898	$	65,704	$	60,991
Retail	6,691		6,968		20,604		21,657
Total	28,503		27,866		86,308		82,648

International
Pharmacy	874		924		2,698		2,690
Retail	1,839		1,769		5,928		5,412
Wholesale	3,014		2,880		8,955		8,311
Total	5,727		5,573		17,581		16,414

U.S. Healthcare	2,125		1,975		6,232		4,597

Corporate and Other 1	(3)		—		(9)		—

Walgreens Boots Alliance, Inc.	$	36,351	$	35,415	$	110,111	$	103,659

1.Includes certain eliminations.

Related parties

9 Months Ended

May 31, 2024

Related parties

The Company has a long-term pharmaceutical distribution agreement with Cencora pursuant to which the Company sources branded and generic pharmaceutical products from Cencora. Additionally, Cencora receives sourcing services for generic pharmaceutical products.

Related party transactions with Cencora (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Purchases, net	$	18,181	$	16,573	$	54,296	$	47,772


	May 31, 2024		August 31, 2023
Trade accounts payable, net of receivables	$	8,756	$	7,814

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Operating Leases:
Operating lease right-of-use assets	$ 21,020	$ 21,667
Operating lease obligations - current	2,384	2,347
Operating lease obligations - non-current	21,379	22,124
Total operating lease obligations	23,763	24,472
Finance leases:
Property, plant and equipment, net	675	678
Lease obligations included in:
Accrued expenses and other liabilities	71	57
Other non-current liabilities	917	919
Total finance lease obligations	$ 988	$ 976
Finance lease, right-of-use asset, statement of financial position, extensible enumeration	Property, plant and equipment, net	Property, plant and equipment, net
Finance lease, liability, current, statement of financial position, extensible enumeration	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Finance lease, liability, noncurrent, statement of financial position, extensible enumeration	Other non-current liabilities	Other non-current liabilities

Accumulated other comprehensive loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 15,192	$ 29,439	$ 28,322	$ 29,366
Net change in other comprehensive (loss) income	5	121	100	274
Ending balance	15,257	29,359	15,257	29,359
Pension/ post-retirement obligations
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(608)	(167)	(698)	(157)
Other comprehensive (loss) income before reclassification adjustments	(3)	0	124	0
Amounts reclassified from AOCI	(3)	(7)	(10)	(20)
Tax benefit (provision)	2	2	(30)	5
Net change in other comprehensive (loss) income	(5)	(5)	85	(15)
Ending balance	(613)	(171)	(613)	(171)
Unrealized gain on cash flow hedges and other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(5)	(6)	(2)
Other comprehensive (loss) income before reclassification adjustments		(2)	0	(6)
Amounts reclassified from AOCI		1	5	2
Tax benefit (provision)		0	0	1
Net change in other comprehensive (loss) income		(1)	5	(4)
Ending balance	0	(6)	0	(6)
Net investment hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	85	140	83	213
Other comprehensive (loss) income before reclassification adjustments	(13)	(42)	(6)	(138)
Amounts reclassified from AOCI	3	0	(1)	0
Tax benefit (provision)	3	10	2	33
Net change in other comprehensive (loss) income	(8)	(31)	(6)	(104)
Ending balance	77	108	77	108
Share of OCI of equity method investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(100)	(162)	(132)	(254)
Other comprehensive (loss) income before reclassification adjustments	(16)	16	(3)	(8)
Amounts reclassified from AOCI	10	(1)	39	149
Tax benefit (provision)	2	(4)	(6)	(37)
Net change in other comprehensive (loss) income	(4)	12	29	104
Ending balance	(104)	(150)	(104)	(150)
Cumulative translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,274)	(2,461)	(2,240)	(2,605)
Other comprehensive (loss) income before reclassification adjustments	20	143	(11)	301
Amounts reclassified from AOCI	0	(2)	(3)	(16)
Tax benefit (provision)	0	0	0	0
Net change in other comprehensive (loss) income	20	141	(14)	285
Ending balance	(2,254)	(2,320)	(2,254)	(2,320)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,897)	(2,654)	(2,993)	(2,805)
Other comprehensive (loss) income before reclassification adjustments	(13)	115	104	149
Amounts reclassified from AOCI	10	(9)	30	115
Tax benefit (provision)	6	9	(34)	2
Net change in other comprehensive (loss) income	3	115	100	266
Ending balance	$ (2,894)	$ (2,539)	$ (2,894)	$ (2,539)

Acquisitions and other Investments - schedule of purchase price allocation and identifiable assets acquired and liabilities assumed - Summit (Details) - USD ($) $ in Millions	Jan. 03, 2023	May 31, 2024	Aug. 31, 2023
Identifiable assets acquired and liabilities assumed:
Goodwill		$ 15,821	$ 28,187
Summit Heath-CityMD
Purchase price allocation
Cash consideration	$ 4,778
Deferred consideration	100
Summit debt paid at closing	1,963
Fair value of equity consideration	1,971
Fair value of non-controlling interests	13
Total	8,825
Identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	69
Accounts receivable, net	381
Property, plant and equipment	607
Intangible assets	3,359
Operating lease right-of-use assets	756
Other assets	174
Operating lease obligations	(773)
Deferred tax liability	(735)
Other liabilities	(466)
Total identifiable net assets	3,372
Goodwill	$ 5,454

Leases - Supplemental Income Statement Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Operating lease cost
Fixed	$ 866	$ 879	$ 2,605	$ 2,545
Variable	228	218	653	613
Finance lease cost
Amortization	13	15	45	36
Interest	12	14	38	38
Sublease income 2	29	29	84	87
Impairment of right-of-use assets	13	38	194	109
Gain on sale and leaseback	10	293	268	825
U.S. Retail Pharmacy
Finance lease cost
Gain on sale and leaseback	10	263	268	647
International
Finance lease cost
Gain on sale and leaseback	$ 0	30	$ 0	178
GERMANY \| International
Finance lease cost
Gain on sale and leaseback		30		178
GERMANY \| International \| Fiscal Year 2023 Acquisitions
Finance lease cost
Gain on sale and leaseback		$ 6		$ 47

Fair value measurements

9 Months Ended

May 31, 2024

Fair Value Disclosures [Abstract]

Fair value measurements

The Company measures certain assets and liabilities in accordance with Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, which defines fair value as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. In addition, it establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels:

Level 1 - Quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2 - Observable inputs other than quoted prices in active markets.

Level 3 - Unobservable inputs for which there is little or no market data available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

Assets and liabilities measured at fair value on a recurring basis were as follows (in millions):


	May 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	32	$	32	$	—	$	—
Cross currency interest rate swaps 2	18		—		18		—
Foreign currency forwards 3	2		—		2		—
Investments in equity securities 4	13		13		—		—
Investments in debt securities 5	84		—		84		—

Total return swaps	1		—		1		—

Liabilities:
Variable prepaid forward 6	$	3,705	$	—	$	—	$	3,705
Foreign currency forwards 3	11		—		11		—


	August 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	11	$	11	$	—	$	—
Cross currency interest rate swaps 2	28		—		28		—
Foreign currency forwards 3	6		—		6		—
Investments in equity securities 4	17		17		—		—
Investments in debt securities 5	15		—		15		—
Total return swaps	1		—		1		—
Liabilities:
Variable prepaid forward 6	$	2,548	$	—	$	—	$	2,548
Foreign currency forwards 3	5		—		5		—
Total return swaps	1		—		1		—
Cross currency interest rate swaps 2	2		—		2		—

1Money market funds are valued at the closing price reported by the fund sponsor and classified as Cash and cash equivalents within the Consolidated Condensed Balance Sheets.

4Fair values of quoted investments are based on current bid prices as of May 31, 2024 and August 31, 2023.

5Includes investments in Treasury debt securities.

There were no transfers between Levels for the three and nine months ended May 31, 2024.

The roll forward of the fair value of the VPF derivatives associated with the forward sale of shares of Cencora common stock, classified as Level 3, is as follows (in millions):


	Three months ended		Nine months ended
	May 31, 2024		May 31, 2024
Opening balance	$	(3,861)	$	(2,548)
VPF derivative additions	—		(424)
Unrealized gains (losses) recorded in Other income, net	155		(733)
Ending balance	$	(3,705)	$	(3,705)

The Company reports its debt instruments under the guidance of ASC Topic 825, Financial Instruments, which requires disclosure of the fair value of the Company’s debt in the footnotes to the Consolidated Condensed Financial Statements. As of May 31, 2024 the carrying amounts and estimated fair values of long term notes outstanding including the current portion were $6.5 billion and $5.9 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the May 31, 2024 rate, as applicable. The fair values and carrying values of these issuances do not include notes that have been redeemed or repaid as of May 31, 2024. The carrying value of the Company's commercial paper, credit facilities, accounts receivable and trade accounts payable approximated their respective fair values due to their short-term nature.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 6A
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Segment reporting

9 Months Ended

May 31, 2024

Segment Reporting [Abstract]

Segment reporting

The Company is aligned into three reportable segments: U.S. Retail Pharmacy, International and U.S. Healthcare.

The operating segments have been identified based on the financial data utilized by the Company’s Chief Executive Officer (the “chief operating decision maker”) to assess segment performance and allocate resources among the Company’s operating segments. The chief operating decision maker uses adjusted operating income to assess segment profitability. The chief operating decision maker does not use total assets by segment to make decisions regarding resources; therefore, the total asset disclosure by segment has not been included.

U.S. Retail Pharmacy

The Company's U.S. Retail Pharmacy segment includes the Walgreens business, which is comprised of the operations of retail drugstores, health and wellness services, specialty and home delivery pharmacy services, and its equity method investment in Cencora. Sales for the segment are principally derived from the sale of prescription drugs and a wide assortment of retail products, including health and wellness, beauty, personal care and consumables and general merchandise.

International

The Company's International segment consists of pharmacy-led health and beauty retail businesses outside the U.S. and a pharmaceutical wholesaling and distribution business in Germany. Pharmacy-led health and beauty retail businesses include Boots branded stores in the UK, the Republic of Ireland and Thailand, and the Benavides brand in Mexico. In the three months ended November 30, 2023, the Company completed the sale of the Farmacias Ahumada business in Chile. Sales for these businesses are principally derived from the sale of prescription drugs and health and wellness, beauty, personal care and other consumer products.

U.S. Healthcare

The Company’s U.S. Healthcare segment is a consumer-centric, technology-enabled healthcare business that engages consumers through a personalized, omni-channel experience across the care journey. The U.S. Healthcare segment delivers improved health outcomes and lower costs for payors and providers by delivering care through owned and partnered assets.

The U.S. Healthcare segment currently consists of a majority position in VillageMD, a national provider of value-based care with primary, multi-specialty, and urgent care providers serving patients in traditional clinic settings, in patients' homes and online appointments; Shields, a specialty pharmacy integrator and accelerator for hospitals; CareCentrix, a participant in the post-acute and home care management sectors, and the Walgreens Health organic business that contracts with payors and providers to deliver clinical healthcare services to their members and members’ caregivers through both digital and physical channels.

The results of operations for reportable segments include procurement benefits. Corporate-related overhead costs are not allocated to reportable segments and are reported in “Corporate and Other”.

The following table reflects results of operations of the Company’s reportable segments (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Sales:



U.S. Retail Pharmacy	$	28,503	$	27,866	$	86,308	$	82,648





International	5,727		5,573		17,581		16,414

U.S. Healthcare	2,125		1,975		6,232		4,597
Corporate and Other 1	(3)		—		(9)		—
Walgreens Boots Alliance, Inc.	$	36,351	$	35,415	$	110,111	$	103,659

Adjusted operating income:
U.S. Retail Pharmacy	$	501	$	962	$	1,947	$	3,134
International	175		208		562		676
U.S. Healthcare	(22)		(172)		(151)		(483)
Corporate and Other 1	(42)		(39)		(158)		(139)
Walgreens Boots Alliance, Inc.	$	613	$	959	$	2,200	$	3,188

1.Includes certain eliminations.

The following table reconciles adjusted operating income to operating income (loss) (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
Adjusted operating income (Non-GAAP measure)	$	613	$	959	$	2,200	$	3,188
Acquisition-related amortization	(266)		(274)		(811)		(851)
Transformational cost management	(95)		(414)		(401)		(697)
Acquisition-related costs	(68)		(70)		(480)		(257)
Adjustments to equity earnings in Cencora	(57)		(61)		(129)		(178)
Certain legal and regulatory accruals and settlements	(52)		(268)		(376)		(7,249)
LIFO provision	36		(51)		(11)		(89)
Impairment of goodwill, intangibles and long-lived assets	—		(299)		(13,091)		(299)
Operating income (loss) (GAAP measure)	$	111	$	(477)	$	(13,099)	$	(6,431)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 230	$ (48)	$ (12,370)	$ (3,320)
Other comprehensive income, net of tax:
Pension/post-retirement obligations	(5)	(5)	85	(15)
Unrealized gain (loss) on cash flow hedges and other	0	(1)	5	(4)
Net investment hedges loss	(8)	(31)	(6)	(104)
Share of other comprehensive (loss) income of equity method investments	(4)	12	29	104
Cumulative translation adjustments	21	147	(14)	294
Total other comprehensive income	5	121	100	274
Total comprehensive income (loss)	235	73	(12,270)	(3,046)
Comprehensive loss attributable to non-controlling interests	(112)	(161)	(6,739)	(411)
Comprehensive income (loss) attributable to Walgreens Boots Alliance, Inc.	$ 347	$ 233	$ (5,532)	$ (2,634)

Retirement benefits (Tables)

9 Months Ended

May 31, 2024

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Costs (Income)

Components of net periodic pension income for the defined benefit pension plans (in millions):


		Three months ended May 31,				Nine months ended May 31,
	Location in Consolidated Condensed Statements of Earnings	2024		2023		2024		2023
Service costs	Selling, general and administrative expenses	$	1	$	1	$	3	$	3
Interest costs	Other income, net	68		64		202		186
Expected returns on plan assets/other	Other income, net	(70)		(81)		(206)		(237)
Total net periodic pension income		$	(1)	$	(17)	$	(1)	$	(48)

Debt - Short and Long-Term Debt (Details)	May 31, 2024 USD ($)	May 31, 2024 GBP (£)	May 31, 2024 EUR (€)	Aug. 31, 2023 USD ($)	Nov. 17, 2021 USD ($)
Debt Instrument [Line Items]
Total short-term debt	$ 1,506,000,000			$ 917,000,000
Total long-term debt, less current portion	7,407,000,000			8,145,000,000
Other
Debt Instrument [Line Items]
Total short-term debt	60,000,000			68,000,000
Credit facilities \| November 2021 DDTL due November 2024
Debt Instrument [Line Items]
Long-term debt	0			289,000,000
Credit facilities \| December 2022 DDTL due January 2026
Debt Instrument [Line Items]
Long-term debt	999,000,000			999,000,000
Credit facilities \| August 2023 DDTL Due January 2026
Debt Instrument [Line Items]
Long-term debt	1,000,000,000			0
Unsecured Notes
Debt Instrument [Line Items]
Other	14,000,000			20,000,000
Unsecured Notes \| $850 million note issuance
Debt Instrument [Line Items]
Face amount	$ 850,000,000
Unsecured Notes \| 0.9500% unsecured notes due 2023
Debt Instrument [Line Items]
Face amount					$ 850,000,000
Stated interest rate	0.95%	0.95%	0.95%		0.95%
Long-term debt	$ 70,000,000			0
Unsecured Notes \| Total $8 billion note issuance
Debt Instrument [Line Items]
Face amount	$ 8,000,000,000
Unsecured Notes \| 3.800% unsecured notes due 2024
Debt Instrument [Line Items]
Stated interest rate	3.80%	3.80%	3.80%
Long-term debt	$ 0			1,156,000,000
Unsecured Notes \| Total $1.5 billion note issuance
Debt Instrument [Line Items]
Face amount	$ 1,500,000,000
Unsecured Notes \| 3.200% unsecured notes due 2030
Debt Instrument [Line Items]
Stated interest rate	3.20%	3.20%	3.20%
Long-term debt	$ 498,000,000			498,000,000
Unsecured Notes \| 4.100% unsecured notes due 2050
Debt Instrument [Line Items]
Stated interest rate	4.10%	4.10%	4.10%
Long-term debt	$ 638,000,000			793,000,000
Unsecured Notes \| Total $6 billion note issuance
Debt Instrument [Line Items]
Face amount	$ 6,000,000,000
Unsecured Notes \| 3.450% unsecured notes due 2026
Debt Instrument [Line Items]
Stated interest rate	3.45%	3.45%	3.45%
Long-term debt	$ 1,445,000,000			1,444,000,000
Unsecured Notes \| 4.650% unsecured notes due 2046
Debt Instrument [Line Items]
Stated interest rate	4.65%	4.65%	4.65%
Long-term debt	$ 302,000,000			318,000,000
Unsecured Notes \| 4.500% unsecured notes due 2034
Debt Instrument [Line Items]
Stated interest rate	4.50%	4.50%	4.50%
Long-term debt	$ 301,000,000			301,000,000
Unsecured Notes \| 4.800% unsecured notes due 2044
Debt Instrument [Line Items]
Stated interest rate	4.80%	4.80%	4.80%
Long-term debt	$ 693,000,000			869,000,000
Unsecured Notes \| Total £700 million note issuance
Debt Instrument [Line Items]
Face amount \| £		£ 700,000,000
Unsecured Notes \| 3.600% unsecured Pound Sterling notes due 2025
Debt Instrument [Line Items]
Stated interest rate	3.60%	3.60%	3.60%
Long-term debt	$ 381,000,000			381,000,000
Unsecured Notes \| Total €750 million note issuance
Debt Instrument [Line Items]
Face amount \| €			€ 750,000,000
Unsecured Notes \| 2.125% unsecured Euro notes due 2026
Debt Instrument [Line Items]
Stated interest rate	2.125%	2.125%	2.125%
Long-term debt	$ 813,000,000			814,000,000
Unsecured Notes \| Total $4 billion note issuance
Debt Instrument [Line Items]
Face amount	$ 4,000,000,000
Unsecured Notes \| 4.400% unsecured notes due 2042
Debt Instrument [Line Items]
Stated interest rate	4.40%	4.40%	4.40%
Long-term debt	$ 252,000,000			263,000,000
Credit facilities \| November 2021 DDTL due November 2024
Debt Instrument [Line Items]
Total short-term debt	290,000,000			0
Unsecured Notes \| 0.9500% unsecured notes due 2023
Debt Instrument [Line Items]
Total short-term debt	0			850,000,000
Unsecured Notes \| 3.800% unsecured notes due 2024
Debt Instrument [Line Items]
Total short-term debt	$ 1,156,000,000			$ 0

Supplemental information - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023	May 31, 2023	Aug. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 703	$ 739
Cash and cash equivalents - assets held for sale (included in other current assets)	0	24
Restricted cash - (included in other current and non-current assets)	37	93
Cash, cash equivalents and restricted cash	$ 740	$ 856	$ 1,117	$ 2,558

Acquisitions and other Investments - Schedule of Pro Forma and Actual Information (Details) - Summit Health-CityMD - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	May 31, 2023	May 31, 2023
Business Acquisition [Line Items]
Sales, pro forma	$ 35,415	$ 104,630
Sales, actual	$ 730	$ 1,193

Exit and disposal activities - Restructuring Reserve Activity (Details) - Transformational Cost Management Program $ in Millions	9 Months Ended
	May 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 102
Costs	368
Payments	(268)
Other	(133)
Ending balance	69
Lease obligations and other real estate costs
Restructuring Reserve [Roll Forward]
Beginning balance	10
Costs	194
Payments	(129)
Other	(66)
Ending balance	10
Asset Impairments
Restructuring Reserve [Roll Forward]
Beginning balance	0
Costs	66
Payments	0
Other	(66)
Ending balance	0
Employee severance and business transition costs
Restructuring Reserve [Roll Forward]
Beginning balance	70
Costs	86
Payments	(98)
Other	0
Ending balance	57
Information technology transformation and other exit costs
Restructuring Reserve [Roll Forward]
Beginning balance	22
Costs	21
Payments	(41)
Other	0
Ending balance	$ 2

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Current assets:
Cash and cash equivalents	$ 703	$ 739
Accounts receivable, net	5,949	5,381
Inventories	8,578	8,257
Other current assets	1,107	1,127
Total current assets	16,337	15,503
Non-current assets:
Property, plant and equipment, net	9,952	11,587
Operating lease right-of-use assets	21,020	21,667
Goodwill	15,821	28,187
Intangible assets, net	12,836	13,635
Equity method investments (see Note 5)	2,961	3,497
Other non-current assets	4,059	2,550
Total non-current assets	66,648	81,125
Total assets	82,985	96,628
Current liabilities:
Short-term debt	1,506	917
Trade accounts payable (see Note 16)	13,100	12,635
Operating lease obligations	2,384	2,347
Accrued expenses and other liabilities	7,753	8,426
Income taxes	292	209
Total current liabilities	25,034	24,535
Non-current liabilities:
Long-term debt	7,407	8,145
Operating lease obligations	21,379	22,124
Deferred income taxes	1,221	1,318
Accrued litigation obligations	5,890	6,261
Other non-current liabilities	6,624	5,757
Total non-current liabilities	42,521	43,605
Commitments and contingencies (see Note 10)
Total liabilities	67,555	68,140
Redeemable non-controlling interests	173	167
Equity:
Preferred stock $.01 par value; authorized 32 million shares, none issued	0	0
Common stock $.01 par value; authorized 3.2 billion shares; issued 1,172,513,618 at May 31, 2024 and August 31, 2023	12	12
Paid-in capital	10,639	10,661
Retained earnings	26,571	33,058
Accumulated other comprehensive loss	(2,894)	(2,993)
Treasury stock, at cost; 309,238,581 shares at May 31, 2024 and 308,839,832 shares at August 31, 2023	(20,686)	(20,717)
Total Walgreens Boots Alliance, Inc. shareholders’ equity	13,642	20,020
Non-controlling interests	1,615	8,302
Total equity	15,257	28,322
Total liabilities, redeemable non-controlling interests and equity	$ 82,985	$ 96,628

Cover Page	9 Months Ended
Cover Page	May 31, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2024
Document Transition Report	false
Entity File Number	001-36759
Entity Registrant Name	WALGREENS BOOTS ALLIANCE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1758322
Entity Address, Address Line One	108 Wilmot Road
Entity Address, City or Town	Deerfield
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	847
Local Phone Number	315-3700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)	863,275,037
Entity Central Index Key	0001618921
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	WBA
Security Exchange Name	NASDAQ
3.600% Walgreens Boots Alliance, Inc. notes due 2025
Document Information [Line Items]
Title of 12(b) Security	3.600% Walgreens Boots Alliance, Inc. notes due 2025
Trading Symbol	WBA25
Security Exchange Name	NASDAQ
2.125% Walgreens Boots Alliance, Inc notes due 2026
Document Information [Line Items]
Title of 12(b) Security	2.125% Walgreens Boots Alliance, Inc. notes due 2026
Trading Symbol	WBA26
Security Exchange Name	NASDAQ

Related parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Related parties (Details) - USD ($) $ in Millions	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Related Party Transaction [Line Items]
Purchases, net			$ 54,296	$ 47,772
Related Party \| Cencora
Related Party Transaction [Line Items]
Purchases, net	$ 18,181	$ 16,573
Trade accounts payable, net of receivables	$ 8,756		$ 8,756		$ 7,814

Leases

9 Months Ended

May 31, 2024

Leases [Abstract]

Leases

The Company leases certain retail stores, clinics, warehouses, distribution centers, office space, land, and equipment. Initial terms for leased premises in the U.S. are typically 10 to 25 years, followed by additional terms containing renewal options at five-year intervals, and may include rent escalation clauses. Non-U.S. leases are typically for shorter terms and may include cancellation clauses or renewal options. Lease commencement is the date the Company has the right to control the property. The Company recognizes operating lease rent expense on a straight line basis over the lease term. In addition to minimum fixed rentals, some leases provide for contingent rentals based on sales volume.

Supplemental balance sheet information related to leases was as follows (in millions):


Balance sheet supplemental information:	May 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	21,020	$	21,667

Operating lease obligations - current	$	2,384	$	2,347
Operating lease obligations - non-current	21,379		22,124
Total operating lease obligations	$	23,763	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	675	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	71	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	988	$	976

Supplemental income statement information related to leases was as follows (in millions):


	Three months ended May 31,				Nine months ended May 31,
Statement of earnings supplemental information:	2024		2023		2024		2023
Operating lease cost
Fixed	$	866	$	879	$	2,605	$	2,545
Variable 1	228		218		653		613
Finance lease cost
Amortization	$	13	$	15	$	45	$	36
Interest	12		14		38		38

Sublease income 2	$	29	$	29	$	84	$	87
Impairment of right-of-use assets	13		38		194		109

Gain on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	10	$	263	$	268	$	647
International 3	—		30		—		178
Total gain on sale-leaseback 2	$	10	$	293	$	268	$	825

1Includes real estate property taxes, common area maintenance, insurance and rental payments based on sales volume.

2Recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings.

Other supplemental information was as follows (in millions):


	Nine months ended May 31,
Other supplemental information:	2024		2023

Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	2,779	$	2,668
Operating cash flows from finance leases	37		35
Financing cash flows from finance leases	52		38
Total	$	2,867	$	2,741

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,235	$	1,773
Finance leases	55		23
Total	$	1,290	$	1,796

Weighted average lease term and discount rate for real estate leases were as follows:


Weighted average lease terms and discount rates:	May 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.3		9.6
Finance leases	17.7		17.4

Weighted average discount rate
Operating leases	5.55	%	5.35	%
Finance leases	5.18	%	5.25	%

The aggregate future lease payments for operating and finance leases as of May 31, 2024 were as follows (in millions):


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2
2024 (Remaining period)	$	32	$	915
2025	122		3,667
2026	119		3,594
2027	116		3,508
2028	95		3,374
2029	85		3,125
Later	882		12,608
Total undiscounted minimum lease payments	$	1,452	$	30,791
Less: Present value discount	464		7,029
Lease liability	$	988	$	23,763

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $597 million due to the Company under non-cancelable sublease terms.

Leases

Supplemental balance sheet information related to leases was as follows (in millions):


Balance sheet supplemental information:	May 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	21,020	$	21,667

Operating lease obligations - current	$	2,384	$	2,347
Operating lease obligations - non-current	21,379		22,124
Total operating lease obligations	$	23,763	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	675	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	71	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	988	$	976

Supplemental income statement information related to leases was as follows (in millions):


	Three months ended May 31,				Nine months ended May 31,
Statement of earnings supplemental information:	2024		2023		2024		2023
Operating lease cost
Fixed	$	866	$	879	$	2,605	$	2,545
Variable 1	228		218		653		613
Finance lease cost
Amortization	$	13	$	15	$	45	$	36
Interest	12		14		38		38

Sublease income 2	$	29	$	29	$	84	$	87
Impairment of right-of-use assets	13		38		194		109

Gain on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	10	$	263	$	268	$	647
International 3	—		30		—		178
Total gain on sale-leaseback 2	$	10	$	293	$	268	$	825

1Includes real estate property taxes, common area maintenance, insurance and rental payments based on sales volume.

2Recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings.

Other supplemental information was as follows (in millions):


	Nine months ended May 31,
Other supplemental information:	2024		2023

Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	2,779	$	2,668
Operating cash flows from finance leases	37		35
Financing cash flows from finance leases	52		38
Total	$	2,867	$	2,741

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,235	$	1,773
Finance leases	55		23
Total	$	1,290	$	1,796

Weighted average lease term and discount rate for real estate leases were as follows:


Weighted average lease terms and discount rates:	May 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.3		9.6
Finance leases	17.7		17.4

Weighted average discount rate
Operating leases	5.55	%	5.35	%
Finance leases	5.18	%	5.25	%

The aggregate future lease payments for operating and finance leases as of May 31, 2024 were as follows (in millions):


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2
2024 (Remaining period)	$	32	$	915
2025	122		3,667
2026	119		3,594
2027	116		3,508
2028	95		3,374
2029	85		3,125
Later	882		12,608
Total undiscounted minimum lease payments	$	1,452	$	30,791
Less: Present value discount	464		7,029
Lease liability	$	988	$	23,763

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $597 million due to the Company under non-cancelable sublease terms.

Accounting policies	9 Months Ended
Accounting policies	May 31, 2024
Accounting Policies [Abstract]
Accounting policies	Accounting policies Basis of presentation The Consolidated Condensed Financial Statements of Walgreens Boots Alliance, Inc. and its subsidiaries (“Walgreens Boots Alliance” or the “Company”) included herein have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The Consolidated Condensed Financial Statements include all subsidiaries in which the Company holds a controlling interest and certain variable interest entities (“VIEs”) for which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments in less than majority-owned companies if the investment provides the ability to exercise significant influence. All intercompany transactions have been eliminated. The Consolidated Condensed Financial Statements included herein are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited financial statements and the notes thereto included in the Walgreens Boots Alliance Annual Report on Form 10-K for the fiscal year ended August 31, 2023, as amended by Form 10-K/A for the fiscal year ended August 31, 2023 filed on November 22, 2023. The preparation of financial statements in accordance with GAAP requires management to use judgment in the application of accounting policies, including making estimates and assumptions. The Company bases its estimates on the information available at the time, its experiences and various other assumptions believed to be reasonable under the circumstances. Adjustments may be made in subsequent periods to reflect more current estimates and assumptions about matters that are inherently uncertain. Actual results may differ. In the opinion of management, the unaudited Consolidated Condensed Financial Statements for the interim periods presented include all adjustments necessary to present a fair statement of the results for such interim periods. Adverse global macroeconomic conditions, the impact of opioid-related claims and litigation settlements, the influence of certain holidays, seasonality, foreign currency rates, changes in vendor, payor and customer relationships and terms, strategic transactions including acquisitions and dispositions, asset impairments, changes in laws and regulations in the markets in which the Company operates and other factors on the Company’s operations and net earnings for any period may not be comparable to the same period in previous years. Certain amounts in the Consolidated Condensed Financial Statements and accompanying notes may not sum due to rounding. Percentages have been calculated using unrounded amounts for all periods presented. Certain prior period data has been reclassified in the Consolidated Condensed Financial Statements and accompanying notes to conform to the current period presentation. New accounting pronouncements Adoption of new accounting pronouncements Acquired contract assets and contract liabilities in a business combination In October 2021, the FASB issued Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). This ASU is expected to reduce diversity in practice and increase comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. This ASU is effective for business combinations completed in fiscal years beginning after December 15, 2022 (fiscal 2024). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's results of operations, cash flows, or financial position. Liabilities — Supplier Finance Programs In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations. This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is expected to improve financial reporting by requiring new disclosures about the programs, thereby allowing financial statement users to better consider the effect of the programs on an entity’s working capital, liquidity, and cash flows. This ASU is effective for fiscal years beginning after December 15, 2022 (fiscal 2024), except for the amendment on roll forward information which is effective for fiscal years beginning after December 15, 2023 (fiscal 2025). The Company adopted this ASU effective September 1, 2023 and the adoption did not impact the Company's disclosures within these Consolidated Condensed Financial Statements. New accounting pronouncements not yet adopted Leases — Common Control Arrangements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842) – Common Control Arrangements. The ASU amends the accounting for leasehold improvements in common control arrangements by requiring a lessee in a common control lease arrangement to amortize leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease. Further, a lessee that no longer controls the use of the underlying asset will derecognize the remaining carrying amount of the improvements through an adjustment to equity, reflecting the transfer of the asset to the lessor under common control. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025), including interim periods within those fiscal years. Early adoption is permitted in any annual or interim period as of the beginning of the related fiscal year. The Company is evaluating the effect of adopting this new accounting guidance. Segment Reporting - Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. This ASU is expected to improve disclosures related to an entity’s reportable segments and provide additional, more detailed information about a reportable segment’s expenses. This ASU is effective for fiscal years beginning after December 15, 2023 (fiscal 2025) and interim periods within fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance. Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU is expected to enhance the transparency and decision usefulness of income tax disclosures by requiring public business entities on an annual basis to disclose specific categories in the rate reconciliation, additional information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026). The amendments in this ASU are required to be applied on a prospective basis and retrospective adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance.

Financial instruments - Summary of Derivative Income and Expenses Due to Fair Value Changes (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Total return swaps \| Selling, general and administrative expenses
Derivatives, Fair Value [Line Items]
Loss on variable prepaid forward contracts	$ 2	$ 2	$ 19	$ 2
Foreign currency forwards \| Other income, net
Derivatives, Fair Value [Line Items]
Loss on variable prepaid forward contracts	(14)	(112)	19	(203)
Variable Prepaid Forward \| Other income, net
Derivatives, Fair Value [Line Items]
Loss on variable prepaid forward contracts	$ 155	$ (26)	$ (733)	$ (26)

Supplemental information - Summary of Dividends per Share (Details) - $ / shares	3 Months Ended						9 Months Ended
	May 31, 2024	Feb. 29, 2024	Nov. 30, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2024	May 31, 2023
Supplemental Cash Flow Elements [Abstract]
Cash dividends declared (in dollars per share)	$ 0.2500	$ 0.2500	$ 0.4800	$ 0.4800	$ 0.4800	$ 0.4800	$ 0.9800	$ 1.4400

Sales

9 Months Ended

May 31, 2024

Revenue from Contract with Customer [Abstract]

Sales

The following table summarizes the Company’s sales by segment and by major source (in millions):


	Three months ended May 31,				Nine months ended May 31,
	2024		2023		2024		2023
U.S. Retail Pharmacy
Pharmacy	$	21,812	$	20,898	$	65,704	$	60,991
Retail	6,691		6,968		20,604		21,657
Total	28,503		27,866		86,308		82,648

International
Pharmacy	874		924		2,698		2,690
Retail	1,839		1,769		5,928		5,412
Wholesale	3,014		2,880		8,955		8,311
Total	5,727		5,573		17,581		16,414

U.S. Healthcare	2,125		1,975		6,232		4,597

Corporate and Other 1	(3)		—		(9)		—

Walgreens Boots Alliance, Inc.	$	36,351	$	35,415	$	110,111	$	103,659

1.Includes certain eliminations.

See Note 18. Supplemental information for further information on receivables from contracts with customers.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Acquisitions and other Investments

9 Months Ended

May 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions and other Investments

Acquisitions and other investments

Summit acquisition

On January 3, 2023, Village Practice Management Company, LLC (“VillageMD”), through its parent company, following an internal reorganization, completed the acquisition of WP CityMD TopCo (“Summit”), a provider of primary, specialty and urgent care, in exchange for $7.0 billion aggregate consideration, consisting of $4.85 billion of cash consideration paid, $2.05 billion in preferred units of VillageMD issued to Summit equity holders and $100 million of cash to be paid one year following closing. The cash consideration includes $87 million of cash paid to fund acquisition-related bonuses to Summit employees which was recognized as a compensation expense of the Company. In addition, VillageMD paid off approximately $1.9 billion in net debt of Summit. In connection with the amended Agreement and Plan of Merger, and in order to finance the acquisition, the Company and Cigna Health & Life Insurance Company acquired preferred units of VillageMD in exchange for $1.75 billion and $2.5 billion in aggregate consideration, respectively. Following the Summit acquisition, the Company remains the largest and consolidating equity holder of VillageMD with ownership of approximately 53% of the outstanding equity interests on a fully diluted basis.

Further, the Company entered into a credit agreement with VillageMD pursuant to which the Company provided VillageMD senior secured credit facilities in the aggregate amount of $2.25 billion, consisting of (i) a senior secured term loan facility in an aggregate original principal amount of $1.75 billion to support the acquisition of Summit; and (ii) a senior secured revolving credit facility in an aggregate original committed amount of $500 million available for general corporate purposes. In connection with the issuance of the senior secured credit facilities, the Company received a $220 million credit for certain fees payable by VillageMD in the form of preferred units of VillageMD. The intercompany facilities eliminate in consolidation.

The Company accounted for this acquisition as a business combination resulting in consolidation of Summit within the U.S. Healthcare segment in its financial statements. In the three months ended February 29, 2024, the Company completed the purchase price allocation.

The following table summarizes the consideration for the acquisition and the amounts of identified assets acquired and liabilities assumed at the date of the transaction (in millions):


Purchase price allocation
Cash consideration 1	$	4,778
Deferred consideration	100
Summit debt paid at closing	1,963
Fair value of equity consideration 2	1,971
Fair value of non-controlling interests	13
Total	$	8,825

Identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	69
Accounts receivable, net	381

Property, plant and equipment	607
Intangible assets 3	3,359
Operating lease right-of-use assets	756
Other assets	174

Operating lease obligations	(773)
Deferred tax liability	(735)
Other liabilities	(466)
Total identifiable net assets	$	3,372

Goodwill	$	5,454

1.Cash consideration excludes $87 million of cash paid to fund acquisition-related bonuses to Summit employees which was recognized as compensation expense of the Company.

2.The fair value of the non-controlling interests was calculated based on the implied equity value of VillageMD, allocated to all units on an as-converted basis.

3.Intangibles acquired include provider networks and trade names with fair values of $1.9 billion and $1.5 billion, respectively. Estimated useful lives are 15 years and 11 to 15 years, respectively.

The goodwill represents anticipated future growth and expansion opportunities into new healthcare offerings and new markets. $416 million of the goodwill is expected to be tax deductible.

Supplemental pro forma information - Summit


	Three months ended May 31,		Nine months ended May 31,
(Unaudited, in millions)	2023		2023
Sales	$	35,415	$	104,630

Actual sales of Summit, from the acquisition date, for the three and nine months ended May 31, 2023, included in the Consolidated Condensed Statements of Earnings are as follows:


	Three months ended May 31,		Nine months ended May 31,
(Unaudited, in millions)	2023		2023
Sales	$	730	$	1,193

Pro forma net earnings of the Company, assuming the Summit acquisition had occurred at the beginning of each period presented, would not be materially different from the results reported.

Shields acquisition

On December 28, 2022, the Company acquired the non-controlling interests in Shields Health Solutions Parent, LLC (“Shields”) for $1.4 billion of cash consideration.

CareCentrix acquisition

On March 31, 2023, the Company acquired the non-controlling interests in CCX Next, LLC (“CareCentrix”) for approximately $378 million of cash consideration.

Other acquisitions

On March 3, 2023, the Company completed the acquisition of Starling MSO Holdings, LLC (“Starling”), a primary care and multi-specialty group, for total consideration of $284 million. Total consideration includes $222 million of cash consideration and $62 million of VillageMD equity issued to Starling equity holders, including employees. VillageMD equity issued to employees will be recognized as compensation expense in the future. As a result of the acquisition, the Company recognized goodwill and intangible assets of $103 million and $128 million, respectively. In the three months ended May 31, 2024, the Company completed the purchase price allocation.

On May 8, 2024, the Company executed an asset purchase agreement to acquire prescription files and related pharmacy inventory for an aggregate purchase price up to $375 million. The acquisition is expected to close by the end of fiscal 2024, subject to customary closing conditions.

The Company acquired other certain prescription files and related pharmacy inventory primarily in the United States (“U.S.”) for an aggregate purchase price of $49 million and $221 million during the three and nine months ended May 31, 2024, respectively, and $37 million and $127 million during the three and nine months ended May 31, 2023, respectively.

Equity method investments (Tables)

9 Months Ended

May 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

Equity method investments were as follows (in millions, except percentages):


	May 31, 2024			August 31, 2023
	Carrying value		Ownership percentage	Carrying value		Ownership percentage
Cencora	$	1,896	12%	$	2,534	16%
Others	1,065		8% - 50%	963		8% - 50%
Total	$	2,961		$	3,497

Equity method investments - Narrative (Details) - USD ($) shares in Thousands, $ in Millions				3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 08, 2023	Mar. 03, 2023	Dec. 15, 2022	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investments						$ 847	$ 1,691
Cencora
Schedule of Equity Method Investments [Line Items]
Outstanding shares owned (in shares)				24,400		24,400		31,800
Ownership percentage				12.40%		12.40%		15.90%
Proceeds from sale of equity method investments				$ 400	$ 50	$ 1,600	3,100
Gain on sale of equity method investments				88	25	847	1,500
Other comprehensive (loss) income before reclassification adjustments				(10)	(2)	$ (39)	$ (152)
Period of reporting lag						2 months
Equity investment, exceeded its proportionate share of net assets				1,800		$ 1,800
Cencora \| Not Designated as Hedging Instrument
Schedule of Equity Method Investments [Line Items]
Pledged collateral (in shares)						20,000		17,300
Cencora \| Level 1
Schedule of Equity Method Investments [Line Items]
Fair market value of equity investment				$ 5,500		$ 5,500		$ 5,600
Guangzhou Pharmaceuticals
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments			$ 150
Option Care Health
Schedule of Equity Method Investments [Line Items]
Number of shares sold (in shares)	10,800	15,500
Proceeds from sale of equity method investments	$ 330	$ 469
Gain on sale of equity method investments		$ 154			$ 76

Income taxes	9 Months Ended
Income taxes	May 31, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rate for the three months ended May 31, 2024 was an expense of 8.0% primarily due to tax benefits related to valuation allowance releases in foreign jurisdictions. The effective tax rate for the three months ended May 31, 2023 was a benefit of 86.3%, primarily due to tax benefits from changes to deferred taxes as a result of internal legal entity restructuring related to previous business acquisitions, and additional tax benefits claimed upon filing the Company's prior year tax returns. The effective tax rate for the nine months ended May 31, 2024 was a benefit of 6.3% due to the impact of the goodwill impairment, which is primarily not deductible for tax purposes, and U.S tax on non-U.S. earnings, partially offset by tax benefits related to the initial recognition of tax basis in assets in foreign jurisdictions, net of valuation allowance. The effective tax rate for the nine months ended May 31, 2023 was a benefit of 33.8%, primarily due to tax benefits on the reduction in the valuation allowance previously recorded against deferred tax assets related to capital loss carryforwards. The reduction was primarily due to capital loss carryforwards utilized against capital gains recognized on the sale of shares in Cencora and based on forecasted capital gains. This benefit was partially offset by the impact of certain nondeductible opioid-related claims recorded in the nine months ended May 31, 2023. Income taxes paid for the nine months ended May 31, 2024 and May 31, 2023 were $238 million and $170 million, respectively. The Company is subject to income taxes and tax audits in many jurisdictions and is regularly audited by the Internal Revenue Service (the “IRS”). During the three months ended February 29, 2024, the IRS issued the Company a Revenue Agent’s Report (the “RAR”) for tax years 2014 through 2017. The Company disagrees with the RAR and has appealed certain issues. The primary disputed issue relates to the valuation of the call option exercised to acquire Alliance Boots GmbH (“Alliance Boots”), described in more detail below. On August 2, 2012, the Company acquired a 45% equity interest in Alliance Boots along with a call option to acquire the remaining 55% equity interest in Alliance Boots, initially valued at $866 million. During the fiscal year ended August 31, 2014 (“fiscal 2014”), the Company entered into an amendment to the Purchase and Option Agreement which accelerated the option period. Upon the amendment, the Company was required to fair value the amended option, which was estimated to be zero as a result of the option being out of the money at that time. As a result, the Company recognized a non-cash loss on the exercise of the call option of $866 million in its fiscal 2014 financial statements. Subsequently, the rights and obligations from the exercised option were transferred to a foreign subsidiary of the Company during the fiscal year ended August 31, 2015 as part of the Company's reorganization in connection with the acquisition of the remaining 55% equity interest in Alliance Boots. As the fair value of the transferred rights and obligations from the exercised option was estimated to be zero at the time, no income was recognized for U.S. tax purposes. The IRS disagrees with the Company’s conclusion and is seeking an additional tax of $2.7 billion plus penalties and interest. The Company intends to vigorously defend its position on the transfer pricing matter through the IRS’s administrative appeals office and, if necessary, judicial proceedings and is confident in its ability to prevail on the merits. As of May 31, 2024, we believe our reserves for uncertain tax positions are appropriate based on the technical merits of the Company’s tax positions. However, the ultimate outcome of a settlement or litigation is uncertain and final resolution of these matters may have a material adverse impact on the Company’s consolidated financial statements. We do not expect a final resolution of these matters in the next 12 months. Based on the information currently available, we do not anticipate a significant increase or decrease to our tax contingencies for these issues within the next 12 months.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Debt

9 Months Ended

May 31, 2024

Debt Disclosure [Abstract]

Debt

Debt carrying values are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated debt is translated to the U.S. dollar using the spot rates as of the balance sheet date. Debt consists of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted):


	May 31, 2024		August 31, 2023
Short-term debt

Credit facilities 1

November 2021 DDTL due November 2024	$	290	$	—
$850 million note issuance 1
0.9500% unsecured notes due 2023	—		850
$8 billion note issuance 1
3.800% unsecured notes due 2024	1,156		—
Other 2	60		68
Total short-term debt	$	1,506	$	917

Long-term debt
Credit facilities 1

November 2021 DDTL due November 2024	$	—	$	289
December 2022 DDTL due January 2026	999		999
August 2023 DDTL due November 2026	1,000		—
August 2023 RCF due August 2026	70		—
$1.5 billion note issuance 1
3.200% unsecured notes due 2030	498		498
4.100% unsecured notes due 2050	638		793
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,445		1,444
4.650% unsecured notes due 2046	302		318
$8 billion note issuance 1
3.800% unsecured notes due 2024	—		1,156
4.500% unsecured notes due 2034	301		301
4.800% unsecured notes due 2044	693		869
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025	381		381
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	813		814
$4 billion note issuance 3
4.400% unsecured notes due 2042	252		263
Other 2	14		20
Total long-term debt, less current portion	$	7,407	$	8,145

1Notes, borrowings under credit facilities and commercial paper are unsecured and unsubordinated debt obligations of the Company and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of the Company from time to time outstanding.

2Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.

3Notes are senior debt obligations of Walgreen Co.

$850 million Note Issuance

On November 17, 2021, the Company issued, in an underwritten public offering, $850 million of 0.95% notes due 2023. The notes contained a call option which allowed for the notes to be repaid, in full or in part, at 100% of the principal amount of the notes to be redeemed, in each case plus accrued and unpaid interest. On November 17, 2023, the Company repaid the note in full.

Credit facilities

August 2023 Revolving Credit Agreement

On August 9, 2023, the Company entered into a $2.25 billion unsecured three-year revolving credit facility (the “August 2023 Revolving Credit Agreement” or “August 2023 RCF”). Interest on borrowings under the revolving credit facility accrues at applicable margins based on the Company's Index Debt Rating by Moody’s or S&P and ranges from 75 basis points to 150 basis points over specified benchmark rates for Secured Overnight Financing Rate (“SOFR”) loans, as applicable. Additionally, the Company pays commitment fees to maintain the availability under the August 2023 Revolving Credit Agreement at applicable fee rates based upon certain criteria at an annual rate on the unutilized portion of the total credit commitment. The August 2023 Revolving Credit Agreement's termination date is August 9, 2026, or earlier, subject to the Company's discretion to terminate the agreement. As of May 31, 2024, there was $70 million in borrowings outstanding under the August 2023 Revolving Credit Agreement.

August 2023 Delayed Draw Term Loan

On August 9, 2023, the Company entered into a $1 billion senior unsecured delayed draw term loan credit agreement (the “August 2023 DDTL”). Interest on borrowings under the August 2023 DDTL accrues at applicable margins based on the Company’s Index Debt Rating by Moody’s or S&P and ranges from 75 basis points to 150 basis points over specified benchmark rates for SOFR loans, as applicable. The August 2023 DDTL was drawn for general corporate purposes. The August 2023 DDTL matures on November 17, 2026. As of May 31, 2024, there was $1 billion in borrowings outstanding under the August 2023 DDTL. Amounts borrowed under the August 2023 DDTL that are repaid or prepaid may not be reborrowed.

December 2022 Delayed Draw Term Loan

On December 19, 2022, the Company entered into a $1.0 billion senior unsecured delayed draw term loan credit agreement (the “December 2022 DDTL”). Interest on borrowings under the December 2022 DDTL accrues at applicable margins based on the Company’s Index Debt Rating by Moody’s or S&P and ranges from 87.5 basis points to 150 basis points over specified benchmark rates for SOFR loans, as applicable. The December 2022 DDTL was drawn for the purpose of funding the consideration due for the purchase of Summit and paying fees and expenses related to it. The December 2022 DDTL matures on January 3, 2026. As of May 31, 2024, there was $1 billion in borrowings outstanding under the December 2022 DDTL. Amounts borrowed under the December 2022 DDTL that are repaid or prepaid may not be reborrowed.

June 2022 Revolving Credit Agreements

On June 17, 2022, the Company entered into a $3.5 billion unsecured five-year revolving credit facility and a $1.5 billion unsecured 18-month revolving credit facility, with designated borrowers from time to time party thereto and lenders from time to time party thereto (the “2022 Revolving Credit Agreements”). Interest on borrowings under the revolving credit facilities accrues at applicable margins based on the Company's Index Debt Rating by S&P or Moody’s and ranges from 80 basis points to 150 basis points over specified benchmark rates for SOFR loans, as applicable. Additionally, the Company pays commitment fees to maintain the availability under the revolving credit facility at applicable fee rates based upon certain criteria at an annual rate on the unutilized portion of the total credit commitment. The five-year facility’s termination date is June 17, 2027, or earlier, subject to the Company's discretion to terminate the agreement. The 18-month facility’s termination date was December 15, 2023, or earlier, subject to the Company's discretion to terminate the agreement. On August 9, 2023 the Company terminated the 18-month facility under the 2022 Revolving Credit Agreements. All outstanding obligations under the 18-month revolving credit facility have been paid and satisfied in full. As of May 31, 2024, there were no borrowings outstanding under the five-year revolving credit facility.

November 2021 Delayed Draw Term Loan

On November 15, 2021, the Company entered into a $5.0 billion senior unsecured multi-tranche delayed draw term loan credit facility, (the “November 2021 DDTL”) consisting of (i) a 364-day senior unsecured delayed draw term loan facility in an aggregate principal amount of $2.0 billion (the “364-day loan”), (ii) a two-year senior unsecured delayed draw term loan facility in an aggregate principal amount of $2.0 billion (the “two-year loan”) and (iii) a three-year senior unsecured delayed draw term loan facility in an aggregate principal amount of $1.0 billion (the “three-year loan”). Borrowings under the November 2021 DDTL bear interest at a fluctuating rate per annum equal to SOFR, plus an applicable margin. The applicable margins for the 364-day and two-year loans were 0.75% and 0.88%, respectively. The applicable margin for the three-year loan is 1.05%. An aggregate amount of $3.0 billion or more of the November 2021 DDTL was drawn for the purpose of funding the purchase of the increased equity interest in VillageMD, and paying fees and expenses related to the foregoing, with the remainder used for general corporate purposes. In fiscal 2023, the Company repaid the 364-day loan and the two-year loan in full. The maturity date on the three-year loan is November 24, 2024. As of May 31, 2024, there was $290 million in borrowings outstanding under the November 2021 DDTL. Amounts borrowed under the November 2021 DDTL and repaid or prepaid may not be reborrowed.

Debt covenants

Each of the Company’s credit facilities described above contain a covenant to maintain, as of the last day of each fiscal quarter, a ratio of consolidated debt to total capitalization not to exceed 0.60:1.00, subject to increase in certain circumstances set forth in the applicable credit agreement. The credit facilities contain various other customary financial covenants. As of May 31, 2024, the Company was in compliance with all such applicable financial covenants.

Commercial paper

The Company periodically borrows under its commercial paper program and may borrow under it in future periods. As of May 31, 2024 and August 31, 2023, the Company had no borrowings outstanding under the commercial paper program.

Interest

Interest paid by the Company was approximately $460 million and $481 million for the nine months ended May 31, 2024 and May 31, 2023, respectively.

Credit ratings

The Company’s senior unsecured debt ratings were lowered to BBB- with a negative outlook by Standard and Poor’s in October 2023 and Ba2 (below investment grade) with a stable outlook by Moody’s in December 2023. The reduction in the Company's credit ratings has limited impact to the cost of interest on existing debt, but has minimally increased borrowing margins under certain credit facilities that are tied to ratings grids or similar terms. The Company's current credit ratings significantly reduce the Company's ability to issue commercial paper, may increase the cost of new financing for the Company, and may decrease access to credit and debt capital markets. As of May 31, 2024, the Company had an aggregate borrowing capacity under committed revolving credit facilities of $5.8 billion, with $70 million in funds drawn under these facilities.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (a)
-Publisher FASB
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1C
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Fair value measurements- Summary of Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 32	$ 11
Investments in equity securities	13	17
Investments in debt securities	84	15
Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	18	28
Derivative liability		2
Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2	6
Derivative liability	11	5
Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	1
Derivative liability		1
Variable Prepaid Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	3,705	2,548
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	32	11
Investments in equity securities	13	17
Investments in debt securities	0	0
Level 1 \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Level 1 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Level 1 \| Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Level 1 \| Variable Prepaid Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Investments in equity securities	0	0
Investments in debt securities	84	15
Level 2 \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	18	28
Derivative liability		2
Level 2 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2	6
Derivative liability	11	5
Level 2 \| Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	1
Derivative liability		1
Level 2 \| Variable Prepaid Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Investments in equity securities	0	0
Investments in debt securities	0	0
Level 3 \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Level 3 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Level 3 \| Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Level 3 \| Variable Prepaid Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 3,705	$ 2,548

Supplemental information - Schedule of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 172	$ 158	$ 167	$ 1,042
Net (loss) income attributable to Redeemable non-controlling interests	(1)	0	1	(24)
Redemption price adjustments and other	1	2	0	456
Reclassifications from redeemable non-controlling interests	0	0	5	(1,314)
Ending balance	$ 173	$ 160	$ 173	$ 160

- Definition

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

Debt (Tables)

9 Months Ended

May 31, 2024

Debt Disclosure [Abstract]

Short-Term Borrowings

Debt consists of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted):


	May 31, 2024		August 31, 2023
Short-term debt

Credit facilities 1

November 2021 DDTL due November 2024	$	290	$	—
$850 million note issuance 1
0.9500% unsecured notes due 2023	—		850
$8 billion note issuance 1
3.800% unsecured notes due 2024	1,156		—
Other 2	60		68
Total short-term debt	$	1,506	$	917

Long-term debt
Credit facilities 1

November 2021 DDTL due November 2024	$	—	$	289
December 2022 DDTL due January 2026	999		999
August 2023 DDTL due November 2026	1,000		—
August 2023 RCF due August 2026	70		—
$1.5 billion note issuance 1
3.200% unsecured notes due 2030	498		498
4.100% unsecured notes due 2050	638		793
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,445		1,444
4.650% unsecured notes due 2046	302		318
$8 billion note issuance 1
3.800% unsecured notes due 2024	—		1,156
4.500% unsecured notes due 2034	301		301
4.800% unsecured notes due 2044	693		869
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025	381		381
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	813		814
$4 billion note issuance 3
4.400% unsecured notes due 2042	252		263
Other 2	14		20
Total long-term debt, less current portion	$	7,407	$	8,145

2Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.

3Notes are senior debt obligations of Walgreen Co.

Long-Term Debt

Debt consists of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted):


	May 31, 2024		August 31, 2023
Short-term debt

Credit facilities 1

November 2021 DDTL due November 2024	$	290	$	—
$850 million note issuance 1
0.9500% unsecured notes due 2023	—		850
$8 billion note issuance 1
3.800% unsecured notes due 2024	1,156		—
Other 2	60		68
Total short-term debt	$	1,506	$	917

Long-term debt
Credit facilities 1

November 2021 DDTL due November 2024	$	—	$	289
December 2022 DDTL due January 2026	999		999
August 2023 DDTL due November 2026	1,000		—
August 2023 RCF due August 2026	70		—
$1.5 billion note issuance 1
3.200% unsecured notes due 2030	498		498
4.100% unsecured notes due 2050	638		793
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,445		1,444
4.650% unsecured notes due 2046	302		318
$8 billion note issuance 1
3.800% unsecured notes due 2024	—		1,156
4.500% unsecured notes due 2034	301		301
4.800% unsecured notes due 2044	693		869
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025	381		381
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	813		814
$4 billion note issuance 3
4.400% unsecured notes due 2042	252		263
Other 2	14		20
Total long-term debt, less current portion	$	7,407	$	8,145

2Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.

3Notes are senior debt obligations of Walgreen Co.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 69B
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-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 30
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Equity method investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	$ 2,961	$ 3,497
Cencora
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	$ 1,896	$ 2,534
Ownership percentage	12.40%	15.90%
Others
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	$ 1,065	$ 963
Others \| Minimum
Schedule of Equity Method Investments [Line Items]
Ownership percentage	8.00%	8.00%
Others \| Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%	50.00%
Total
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	$ 2,961	$ 3,497

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Equity method investments

9 Months Ended

May 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

Equity method investments were as follows (in millions, except percentages):


	May 31, 2024			August 31, 2023
	Carrying value		Ownership percentage	Carrying value		Ownership percentage
Cencora	$	1,896	12%	$	2,534	16%
Others	1,065		8% - 50%	963		8% - 50%
Total	$	2,961		$	3,497

Cencora investment

As of May 31, 2024 and August 31, 2023, the Company owned 24.4 million and 31.8 million shares of Cencora, Inc. (“Cencora”) common stock, respectively, representing approximately 12.4% and 15.9% of its outstanding common stock based on the share count publicly reported by Cencora in its most recent filings with the SEC.

During the three months ended May 31, 2024 and May 31, 2023, the Company sold shares of Cencora common stock for total consideration of approximately $400 million and $50 million, respectively. These transactions resulted in the Company recording pre-tax gains, inclusive of equity method basis difference adjustments, of $88 million and $25 million, respectively, in Other income, net within the Consolidated Condensed Statements of Earnings, including $10 million and $2 million of losses, respectively, reclassified from within Accumulated other comprehensive loss in the Consolidated Condensed Balance Sheets.

During the nine months ended May 31, 2024 and May 31, 2023, the Company sold shares of Cencora common stock for total consideration of approximately $1.6 billion and $3.1 billion, respectively. These transactions resulted in the Company recording pre-tax gains, inclusive of equity method basis difference adjustments, of $847 million and $1.5 billion, respectively, in Other income, net within the Consolidated Condensed Statements of Earnings, including $39 million and $152 million of losses, respectively, reclassified from within Accumulated other comprehensive loss in the Consolidated Condensed Balance Sheets.

As of May 31, 2024 and August 31, 2023, the Company has pledged 20.0 million and 17.3 million shares of Cencora common stock, respectively, as collateral upon entering into variable prepaid forward (“VPF”) transactions. See Note 8. Financial instruments for further information.

The Company accounts for its equity investment in Cencora using the equity method of accounting, with the net earnings attributable to the Company’s investment being classified within the operating income of its U.S. Retail Pharmacy segment. Due to the timing and availability of financial information of Cencora, the Company accounts for this equity method investment on a financial reporting lag of two months. Equity earnings from Cencora are reported as a separate line item in the Consolidated Condensed Statements of Earnings.

The Level 1 fair market value of the Company’s equity investment in Cencora common stock at May 31, 2024 and August 31, 2023 was $5.5 billion and $5.6 billion, respectively. As of May 31, 2024 the carrying value of the Company’s investment in Cencora exceeded its proportionate share of the net assets of Cencora by $1.8 billion. This premium of $1.8 billion was recognized as part of the carrying value in the Company’s equity investment in Cencora. The difference is primarily related to goodwill and the fair value of Cencora intangible assets.

Other investments

At May 31, 2024, the Company’s other equity method investments primarily include its U.S. investment in BrightSpring Health Services, and the Company’s investments in China in Sinopharm Medicine Holding Guoda Drugstores Co., Ltd and Nanjing Pharmaceutical Company Limited. On December 15, 2022, the Company sold its ownership interest in Guangzhou Pharmaceuticals Corporation for total consideration of approximately $150 million.

On March 3, 2023, the Company sold approximately 15.5 million shares of Option Care Health common stock for total consideration of approximately $469 million. The transaction resulted in the Company recording a pre-tax gain of $154 million in Other income, net in the Consolidated Condensed Statements of Earnings. In the three months ended May 31, 2023, the Company also recognized a pre-tax gain of $76 million included in Other income, net within the Consolidated Condensed Statements of Earnings, related to the change in classification of its previously held equity method investment in Option Care Health to an investment in equity security held at fair value, and the related fair value adjustments. On June 8, 2023, the Company sold the remaining 10.8 million shares of Option Care Health for total consideration of approximately $330 million.

Leases - Future Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Millions	May 31, 2024	Aug. 31, 2023
Finance lease
2024 (Remaining period)	$ 32
2025	122
2026	119
2027	116
2028	95
2029	85
Later	882
Total undiscounted minimum lease payments	1,452
Less: Present value discount	464
Lease liability	988	$ 976
Operating lease
2024 (Remaining period)	915
2025	3,667
2026	3,594
2027	3,508
2028	3,374
2029	3,125
Later	12,608
Total undiscounted minimum lease payments	30,791
Less: Present value discount	7,029
Lease liability	$ 23,763	$ 24,472

Commitments and contingencies	9 Months Ended
Commitments and contingencies	May 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies The Company is involved in legal proceedings arising in the normal course of its business, including litigation, arbitration and other claims, and investigations, inspections, subpoenas, audits, claims, inquiries and similar actions by governmental authorities in pharmacy, healthcare, tax and other areas. Some of these proceedings may be class actions, and some involve claims for large or indeterminate amounts, including punitive or exemplary damages, and they may remain unresolved for several years. Legal proceedings in general, and securities, class action and multi-district litigation, in particular, can be expensive and disruptive. From time to time, the Company is also involved in legal proceedings as a plaintiff involving antitrust, tax, contract, intellectual property and other matters. Gain contingencies, if any, are recognized when they are realized. The Company has been involved or is currently involved in numerous legal proceedings, including litigation, arbitration, government investigations, audits, reviews and claims. These include routine, regular and special investigations, audits and reviews by CMS, state insurance and health and welfare departments, the U.S. Department of Justice (the “DOJ”), state Attorneys General, the U.S. Drug Enforcement Administration (the “DEA”), the U.S. Federal Trade Commission (the “FTC”) and other governmental authorities. The Company is subject to extensive regulation by national, state and local government agencies in the U.S. and other countries in which it operates. The Company’s business, compliance and reporting practices are subject to intensive scrutiny under applicable regulation, including review or audit by regulatory authorities. As a result, the Company regularly is the subject of government actions of the types described herein. The Company also may be named from time to time in qui tam actions initiated by private parties. In such an action, a private party purports to act on behalf of federal or state governments, alleges that false claims have been submitted for payment by the government and may receive an award if its claims are successful. After a private party has filed a qui tam action, the government must investigate the private party's claim and determine whether to intervene in and take control over the litigation. These actions may remain under seal while the government makes this determination. If the government declines to intervene, the private party may nonetheless continue to pursue the litigation on its own purporting to act on behalf of the government. The results of legal proceedings, including government investigations, are often uncertain and difficult to predict, and the costs incurred in these matters can be substantial, regardless of the outcome. In addition, as a result of governmental investigations or proceedings, the Company may be subject to damages, civil or criminal fines or penalties, or other sanctions, including the possible suspension or loss of licensure and suspension or exclusion from participation in government programs. The Company describes below certain proceedings involving the Company in which the amount of loss could be material or the nature of the dispute is qualitatively material. The Company accrues for legal claims when, and to the extent that, the amount or range of probable loss can be reasonably estimated. If only a range of probable loss can be determined, and no one estimate within that range is a better or more probable estimate than any other estimate, we accrue the low end of the range. The Company believes there are meritorious defenses with respect to the claims asserted against it, and it intends to defend each of these cases vigorously, but there can be no assurance as to the ultimate outcome. With respect to litigation and other legal proceedings where the Company has determined a material loss is reasonably possible, except as otherwise disclosed, the Company is not able to make a reasonable estimate of the amount or range of loss that is reasonably possible above any accrued amounts in these proceedings, due to various reasons, including: the existence of factual and legal arguments that, if successful, will eliminate or sharply reduce the possibility of loss; lack of sufficient information about the arguments and the evidence plaintiffs will advance with respect to their damages; some of the cases have been stayed; certain proceedings present novel and complex questions of public policy; legal and factual determinations and judicial and governmental procedure; the large number of parties involved; and the inherent uncertainties related to such legal proceedings. Securities Claims Relating to Rite-Aid Merger On December 11, 2017, purported Rite-Aid shareholders filed an amended complaint in a putative class action lawsuit in the U.S. District Court for the Middle District of Pennsylvania (the “M.D. Pa. class action”) arising out of transactions contemplated by the merger agreement between the Company and Rite-Aid. The amended complaint alleges that the Company and certain of its officers made false or misleading statements regarding the transactions. The plaintiffs sought monetary damages for the foregoing alleged claims. Fact and expert discovery have concluded. The Court denied both plaintiffs’ partial motion for summary judgement and the Company’s motion for summary judgment on March 31, 2023. On August 23, 2023, the Company, the other defendants in the M.D. Pa. class action, and the lead plaintiffs entered into a binding agreement to settle all claims in the M.D. Pa. class action. The settlement of approximately $193 million provides for the dismissal of the M.D. Pa. class action with prejudice. Defendants admitted no liability and denied all allegations of wrongdoing. The court granted preliminary approval of the settlement on October 23, 2023 and final approval on February 7, 2024. This settlement is fully paid. In October and December 2020, two separate purported Rite-Aid shareholders filed actions in the same court opting out of the class in the M.D. Pa. class action and making nearly identical allegations and demands for relief as those in the M.D. Pa. class action (the “Opt-out Actions”). On March 5, 2024 the parties reached an agreement to resolve this litigation. The Court has prohibited further opt-out litigation with respect to the M.D. Pa. class action. On March 19, 2021, a putative shareholder filed a derivative suit in the District Court of Delaware (Clem v. Skinner, et al., 21-CV-406 Del Dist. Ct.) against certain current and former Walgreens directors and officers, seeking damages based on alleged breaches of fiduciary duty and seeking contribution under Section 21D of the Exchange Act of 1934, as amended, in connection with the M.D. Pa. class action. The plaintiff's allegations in this derivative suit concern the same public statements at issue in the M.D. Pa. class action. The parties have reached an agreement in principle to resolve this matter. Claims Relating to Opioid Abuse On May 5, 2022, the Company announced that it had entered into a settlement agreement with the State of Florida to resolve all claims related to the distribution and dispensing of prescription opioid medications across the Company’s pharmacies in the State of Florida. This settlement agreement was not an admission of liability or wrong-doing and resolved all pending and future opioid litigation by state and government subdivisions in the State of Florida. The settlement amount of $683 million includes $620 million in remediation payments, which will be paid to the State of Florida in equal installments over 18 years, and will be applied as opioid remediation, as well as a one-time payment of $63 million for attorneys’ fees. In fiscal 2022, the Company recorded a $683 million liability associated with this settlement. On November 2, 2022, the Company announced that it had agreed to financial amounts and payment terms as part of settlement frameworks (the “Settlement Frameworks”) that had the potential to resolve a substantial majority of opioid-related lawsuits filed against the Company by the attorneys general of participating states and political subdivisions (the “Settling States”) and litigation brought by counsel for tribes. Under the Settlement Frameworks with the Settling States and counsel for tribes, the Company announced that it expected to settle all opioid claims against it by such Settling States, their participating political subdivisions, and participating tribes for up to approximately $4.8 billion and $155 million, respectively in remediation payments to be paid out over 15 years. The Settlement Frameworks provided for the payment of up to approximately $754 million in attorneys’ fees and costs over six years beginning in year two of the Settlement Frameworks. The Settlement Frameworks included no admission of wrongdoing or liability by the Company. As of November 30, 2022, the Company concluded that Settlement Frameworks discussions had advanced to a stage where a broad settlement of opioid claims by Settling States was probable, and for which the related loss was reasonably estimable. As a result of those conclusions and the Company’s ongoing assessment of other opioid-related claims, the Company recorded a $6.5 billion liability associated with the Settlement Frameworks and other opioid-related claims and litigation settlements during the three months ended November 30, 2022. The settlement accrual was reflected in the Consolidated Condensed Statements of Earnings within Selling, general and administrative expenses as part of the U.S. Retail Pharmacy segment. On December 9, 2022, the Company committed the Settlement Frameworks to a proposed settlement agreement (the “Proposed Settlement Agreement”) that was contingent on (1) a sufficient number of Settling States, including those that had not sued, agreeing to the Proposed Settlement Agreement following a sign-on period, and (2) following a notice period, a sufficient number of political subdivisions within Settling States, including those that had not sued, agreeing to the Proposed Settlement Agreement (or otherwise having their claims foreclosed). On June 8, 2023 the Company informed the Settling States that there was sufficient State participation, sufficient Subdivision participation, and sufficient resolution of the claims of Litigating Subdivisions in the Settling States to proceed with the multistate settlement. The Company has now resolved its litigation with all states, territories, tribes and 99.5% of litigating subdivisions within Settling States included in the Proposed Settlement or in separate agreements. Estimated liabilities for these settlements are fully accrued. Incentive payments to Settling States with non-participating political subdivisions are subject to reduction and those subdivisions are still entitled to pursue their claims against the Company. The Proposed Settlement Agreement became effective on August 7, 2023 (the “Multistate Settlement Agreement”). The Company will continue to vigorously defend against any litigation not covered by the Multistate Settlement Agreement, including private plaintiff litigation. The Company continues to believe it has strong legal defenses and appellate arguments in all of these cases. As of May 31, 2024, the Company has accrued a total of $6.6 billion liability associated with the Multistate Settlement Agreement and other opioid-related claims and litigation settlements, including $744 million and $5.9 billion of the estimated settlement liability in Accrued expenses and other liabilities, and Accrued litigation obligations, respectively, in the Consolidated Condensed Balance Sheets. The Company remains a defendant in multiple actions in federal courts alleging claims generally concerning the impacts of widespread opioid abuse, which have been commenced by various plaintiffs. In December 2017, the U.S. Judicial Panel on Multidistrict Litigation consolidated many of these cases in a consolidated multidistrict litigation, captioned In re National Prescription Opiate Litigation (MDL No. 2804, Case No. 17-MD-2804), which is pending in the U.S. District Court for the Northern District of Ohio (“N.D. Ohio”). The Company is a defendant in the following multidistrict litigation bellwether cases: •Two consolidated cases in N.D. Ohio (Cnty. of Lake, Ohio v. Purdue Pharma L.P., et al., Case No. 18-op-45032; Cnty. of Trumbull, Ohio v. Purdue Pharma L.P., et al., Case No. 18-op-45079). In November 2021, the jury returned a verdict in favor of the plaintiffs as to liability, and a second trial regarding remedies took place in May 2022. In August 2022, the court entered orders providing for injunctive relief and requiring the defendants to pay $651 million over a 15-year period to fund abatement programs. The court found that the damages are subject to joint and several liability and as such made no determination as to apportionment. These decisions are currently on appeal. •Louisiana Assessors Ins. Fund v. AmerisourceBergen Drug Corp., et al., 1:18-op-46223 (M.D. La.). •Pioneer Tele, Coop. Inc. Employee Benefits Plan v. Purdue Pharma LP et al., 1:18-op-46186 (W.D. Okla.). •United Food and Comm. Workers Health and Welfare Fund of Northeastern Pennsylvania v. Purdue Pharma, LP et al., 1:17-op-45117 (E.D. Pa.). •Sheet Metal Workers Local No. 25 Health & Welfare Fund v. Purdue Pharma, LP et al., 1:18-op-45002 (E.D. Pa.). The Company also has been named as a defendant in multiple actions brought in state courts relating to opioid matters. Trial dates have been set in cases pending in state courts in the following states: •Maryland (Mayor and City Council of Baltimore v. Purdue Pharma L.P., et al., Case No. 24-C-18-000515, Circuit Court for Baltimore City, Baltimore, Maryland - September 2024). •Florida (Florida Health Sciences Center, Inc., et al. v. Richard Sackler, et al., Case No. CACE 19-018882, Seventeenth Judicial Circuit Court, Broward County, Florida - September 2025). The relief sought by various plaintiffs in these matters includes compensatory, abatement, restitution and punitive damages, as well as injunctive relief. Additionally, the Company has received from the U.S. Department of Justice (“DOJ”) and the Attorneys General of numerous states subpoenas, civil investigative demands, and other requests concerning opioid-related matters. The Company continues to communicate with the DOJ regarding purported violations of the federal Controlled Substances Act and the federal False Claims Act in dispensing prescriptions for opioids and other controlled substances at its pharmacies nationwide. On September 23, 2022, a putative shareholder filed a derivative suit in the United States District Court for the Northern District of Ohio (Vladimir Gusinsky Revocable Trust v. Pessina et al., 22-CV-1717) against certain current and former Walgreens directors and officers, seeking damages based on alleged breaches of fiduciary duty, unjust enrichment and violations of section 14A of the Securities and Exchange Act of 1934 in connection with the oversight of risks related to opioids. A motion to dismiss for improper venue was filed on December 12, 2022. That motion was granted on September 22, 2023, and the case was dismissed without prejudice. The case was refiled on November 4, 2023, in the United States District Court for the Northern District of Illinois (Vladimir Gusinsky Revocable Trust v. Pessina et al., 23-CV-15654). On November 14, 2023, the case was stayed to permit the parties to explore the possibility of settlement. The court granted preliminary approval of the settlement on April 17, 2024 and final approval on June 18, 2024. The settlement includes a net $28 million payment to the Company from insurers and certain corporate governance changes. Defendants admitted no liability and denied all allegations of wrongdoing. Usual and Customary Pricing Litigation The Company is defending a number of claims, lawsuits and investigations that allege that the Company’s retail pharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process. The Company has accrued a total liability of $310 million for all usual and customary pricing litigation in Accrued expenses and other liabilities within the Consolidated Condensed Balance Sheets. In one such case, Humana initiated an arbitration before the American Arbitration Association on August 13, 2019, seeking monetary damages on the basis of the aforementioned allegation. At the conclusion of that matter, the arbitrator issued an award in Humana’s favor in the amount of $642 million. The Company asked a federal court to vacate that award. On December 29, 2023, the parties reached an agreement to resolve the Humana dispute for $360 million. On March 23, 2017, a putative class of employee and union benefit funds and individual insureds filed suit in the United States District Court for the Northern District of Illinois (Russo et al. v. Walgreen Co. et al., Case No. 1:17-cv-02246) making similar allegations and seeking monetary damages. The plaintiffs’ motion for class certification is fully briefed but stayed pending the outcome of settlement discussions. Additionally, a group of Blue Cross Blue Shield-affiliated plans filed suit in federal and state courts in Illinois making similar allegations and seeking similar damages (BCBSM, Inc. et al v. Walgreen Co. et al., Case 1:20-cv-01853; Healthcare Service Corp. v. Walgreen Co., et al., Case No. 2021 L 000621). Derivative Suit Relating to Insulin Pens On March 19, 2021, a putative shareholder filed a derivative suit in the Delaware Court of Chancery (Clem v. Skinner et al., 2021-0240) against certain current and former Walgreens directors and officers, seeking damages based on alleged breaches of fiduciary duty and unjust enrichment in connection with certain allegedly false reimbursement claims to government healthcare payors related to insulin pens. On October 8, 2021, an amended complaint was filed. On December 17, 2021, the defendants moved to dismiss that amended complaint. On February 20, 2024 the matter was dismissed with prejudice. On March 20, 2024 plaintiff filed a notice of appeal. On May 7, 2024 plaintiff withdrew his appeal. Commercial Arbitration Award On June 10, 2022, Everly Health Solutions, formerly known as PWNHealth LLC (“Everly/PWN”), initiated an arbitration with the American Arbitration Association alleging that an agreement between Everly/PWN and the Company was exclusive, and that the Company breached the agreement when it in-sourced certain enabling services previously performed by Everly/PWN related to the ordering and oversight of Covid testing. Everly/PWN also alleged fraudulent inducement, misappropriation, and improper use of PWN’s mark. Everly/PWN sought monetary damages for its alleged claims. On March 19, 2024, the arbitrator issued a Final Award in the amount of $988 million including interest. The Company disputes the alleged claims and the Final Award in part because it believes it is in contravention of a contractual cap on damages in the agreement, which limits damages to $79 million. The Company has petitioned a federal court in Delaware to vacate the final award, but there can be no assurance as to the ultimate outcome. The Company has accrued $79 million for this matter.