0001618921-24-000084 | 10-K | XBRL Viewer | Walgreens Boots Alliance INC

Print Document

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 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)	308,513,185	308,839,832

Leases - supplemental balance sheet information (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Operating leases:
Operating lease right-of-use assets	$ 20,335	$ 21,667
Operating lease obligations - current	2,382	2,347
Operating lease obligations - non-current	20,921	22,124
Total operating lease obligations	23,303	24,472
Finance leases:
Property, plant and equipment, net	680	678
Lease obligations included in:
Accrued expenses and other liabilities	74	57
Other non-current liabilities	917	919
Total finance lease obligations	$ 991	$ 976
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities	Other non-current liabilities

Capital stock (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022	Jun. 30, 2018
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during period (in shares)	0	0
Stock repurchased during current fiscal year, value	$ 69	$ 150	$ 187
Shares of common stock reserved for future issuances (in shares)	45,000
June 2018 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, authorized maximum amount				$ 10,000
Stock repurchase program, remaining authorized amount to be purchased	$ 2,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Fair value measurements - Fair Value Roll Forward (Details) - Derivative Financial Instruments, Liabilities - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ (2,548)	$ 0
VPF derivative additions	(424)	(2,568)
Unrealized (losses) gains recorded in Other income, net	(946)	19
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ (3,919)	$ (2,548)

Income taxes - provision for income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Current provision
Federal	$ 91	$ 242	$ 39
State	52	(13)	37
Non–U.S.	185	283	260
Total current provisions for income taxes	328	512	336
Deferred provision
Federal	910	(1,886)	(78)
State	259	(364)	(20)
Non–U.S.	(251)	(120)	(268)
Total non-current provisions for income taxes	918	(2,370)	(366)
Income tax provision (benefit)	$ 1,246	$ (1,858)	$ (30)

Segment reporting

12 Months Ended

Aug. 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 the Company’s pharmaceutical wholesale 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. Sales for these businesses are principally derived from the sale of prescription drugs and health and wellness, beauty, personal care and other consumer products. In fiscal 2024, the Company completed the sale of the Farmacias Ahumada business in Chile.

U.S. Healthcare

The Company’s U.S. Healthcare segment 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; as well as Shields, a specialty pharmacy integrator and accelerator for hospitals; and CareCentrix, a participant in the post-acute and home care management sectors, and the Walgreens Health organic business that contracts with different participants in the healthcare ecosystem to provide commercial and clinical healthcare services.

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):


	2024		2023		2022
Sales:
U.S. Retail Pharmacy
Pharmacy	$	88,867	$	82,118	$	80,434
Retail	26,911		28,195		28,643
Total	$	115,778	$	110,314	$	109,078

International
Pharmacy	$	3,598	$	3,664	$	3,727
Retail	7,887		7,324		6,924
Wholesale	12,067		11,211		11,178
Total	$	23,552	$	22,198	$	21,830

U.S. Healthcare	$	8,345	$	6,570	$	1,795

Corporate and Other 1	$	(16)	$	—	$	—

Walgreens Boots Alliance, Inc.	$	147,658	$	139,081	$	132,703

Adjusted operating income:
U.S. Retail Pharmacy	$	2,167	$	3,689	$	5,029
International	793		935		726
U.S. Healthcare	(134)		(566)		(370)
Corporate and Other	(202)		(187)		(251)
Walgreens Boots Alliance, Inc.	$	2,624	$	3,871	$	5,133

Depreciation and amortization:
U.S. Retail Pharmacy	$	1,422	$	1,362	$	1,415
International	370		328		355
U.S. Healthcare	651		560		211
Corporate and Other	16		8		9
Walgreens Boots Alliance, Inc.	$	2,459	$	2,257	$	1,990

Capital expenditures:
U.S. Retail Pharmacy	$	1,041	$	1,421	$	1,207
International	247		308		295
U.S. Healthcare	91		375		218
Corporate and Other	2		13		15
Walgreens Boots Alliance, Inc.	$	1,381	$	2,117	$	1,734

1.Includes certain eliminations.

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


	2024		2023		2022
Adjusted operating income (Non-GAAP measure):	$	2,624	$	3,871	$	5,133
Impairment of goodwill, intangibles and long-lived assets	(13,422)		(299)		(783)
Acquisition-related amortization	(1,075)		(1,126)		(855)
Transformational cost management	(891)		(1,181)		(763)
Acquisition-related costs	(542)		(323)		(223)
Certain legal and regulatory accruals and settlements	(561)		(7,466)		(768)
Adjustments to equity earnings in Cencora	(162)		(211)		(218)
LIFO provision	(47)		(187)		(135)

Store damage and inventory loss insurance recovery	—		40		—
Operating (loss) income (GAAP measure)	$	(14,076)	$	(6,882)	$	1,387

No single customer accounted for more than 10% of the Company’s consolidated sales for any of the periods presented. Substantially all of our pharmacy sales are to customers covered by third-party payors (e.g., pharmacy benefit managers, insurance companies and governmental agencies) that agree to pay for all or a portion of a customer’s eligible prescription purchases. In the U.S. Retail Pharmacy segment, three third-party payors accounted for approximately 34%, 33%, and 31% of the Company’s consolidated sales in fiscal 2024, 2023 and 2022, respectively.

Geographic data for sales is as follows (in millions):


	2024		2023		2022
United States	$	124,176	$	116,883	$	110,873
Germany	12,067		11,211		11,178
United Kingdom	9,550		8,984		8,894
Other	1,864		2,003		1,757
Sales	$	147,658	$	139,081	$	132,703

Geographic data for long-lived assets, defined as operating lease right-of-use assets and property, plant and equipment, is as follows (in millions):


	2024		2023
United States	$	25,873	$	28,951
United Kingdom	3,538		3,622
Other	697		681
Total long-lived assets	$	30,108	$	33,254

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

Retirement benefits - fair value level 3 transfers (Details) - Pension Plan $ in Millions	12 Months Ended
	Aug. 31, 2024 USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	$ 5,594
Plan assets at fair value at end of year	5,994
Annuity policies, less deferred premium 1
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at end of year	5,487
Real estate 2
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	466
Plan assets at fair value at end of year	81
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	1,228
Net realized and unrealized gains/(losses)	248
Net purchases, issuances and Settlement	4,092
Plan assets at fair value at end of year	5,568
Level 3 \| Annuity policies, less deferred premium 1
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	48
Net realized and unrealized gains/(losses)	355
Net purchases, issuances and Settlement	5,084
Plan assets at fair value at end of year	5,487
Level 3 \| Real estate 2
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	466
Net realized and unrealized gains/(losses)	(52)
Net purchases, issuances and Settlement	(334)
Plan assets at fair value at end of year	81
Level 3 \| Direct Private Investment
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets at fair value at beginning of year	713
Net realized and unrealized gains/(losses)	(55)
Net purchases, issuances and Settlement	(659)
Plan assets at fair value at end of year	$ 0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Leases - average lease terms and discount rates (Details)	Aug. 31, 2024	Aug. 31, 2023
Weighted average remaining lease term in years
Operating leases	9 years 2 months 12 days	9 years 7 months 6 days
Finance leases	17 years 7 months 6 days	17 years 4 months 24 days
Weighted average discount rate
Operating leases	5.60%	5.35%
Finance leases	5.18%	5.25%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings (loss)	$ (15,448)	$ (3,528)	$ 4,065
Other comprehensive income (loss), net of tax:
Pension/post-retirement obligations	(8)	(541)	203
Unrealized gain (loss) on cash flow hedges	5	(2)	7
Net investment hedges (loss) gain	(68)	(130)	248
Movement on available for sale debt securities	1	(2)	(95)
Share of other comprehensive income (loss) of equity method investments	45	122	(226)
Currency translation adjustments	126	377	(865)
Total other comprehensive income (loss)	100	(176)	(728)
Total comprehensive (loss) income	(15,348)	(3,704)	3,337
Comprehensive loss attributable to non-controlling interests	(6,808)	(435)	(303)
Comprehensive (loss) income attributable to Walgreens Boots Alliance, Inc.	$ (8,540)	$ (3,269)	$ 3,640

Summary of major accounting policies (Tables)

12 Months Ended

Aug. 31, 2024

Accounting Policies [Abstract]

Schedule of reconciliation of cash and cash equivalents

The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to total cash, cash equivalents, marketable securities and restricted cash in the Consolidated Statements of Cash Flows for fiscal 2024, 2023 and 2022 (in millions):


	August 31, 2024		August 31, 2023		August 31, 2022
Cash and cash equivalents	$	1,319	$	728	$	1,358
Marketable securities	1,790		11		1,114
Cash and cash equivalents - assets held for sale (included in other current assets)	—		24		—
Restricted cash (included in other current and non-current assets)	110		93		86
Cash, cash equivalents, marketable securities and restricted cash	$	3,218	$	856	$	2,558

Schedule of property, plant and equipment

The following table summarizes the Company’s property, plant and equipment (in millions) and estimated useful lives (in years):


	Estimated useful life	2024		2023
Land and land improvements 1	20	$	1,455	$	1,778
Buildings and building improvements	3 to 50	6,117		6,683
Fixtures and equipment	3 to 20	9,720		9,782
Capitalized system development costs and software	3 to 10	3,528		3,821
Assets under construction		673		1,400
Finance lease properties		1,143		1,075
		$	22,636	$	24,540
Less: accumulated depreciation and amortization		12,863		12,953
Balance at end of year		$	9,772	$	11,587

1.Land is not depreciated.

Schedule of variable interest entities

The following table summarizes the Entities’ assets and liabilities (in millions) as of August 31, 2024 and 2023, respectively.


	August 31, 2024		August 31, 2023
Total assets	$	928	$	881
Total liabilities	540		486

Temporary Equity

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


	2024		2023		2022
Opening balance	$	167	$	1,042	$	319
Recognition upon acquisition of subsidiary 1	—		—		2,684
Acquisition of non-controlling interests 2	—		—		(2,047)
Net income (loss) attributable to Redeemable non-controlling interests	1		(21)		(73)
Redemption price adjustments and other 3	6		460		159
Reclassifications to Accrued expenses and other liabilities 4	—		(1,314)		—
Ending balance	$	174	$	167	$	1,042

1.Fiscal 2022 includes $1.9 billion of redeemable non-controlling interests, representing the maximum purchase price to redeem non-controlling units in VillageMD for cash, and redeemable non-controlling interests in Shields Health Solutions Parent, LLC (“Shields”) and CCX Next, LLC (“CareCentrix”). On November 24, 2021, VillageMD commenced a tender offer to purchase up to $1.9 billion of units in VillageMD for cash. The tender offer was fully subscribed and settled on December 28, 2021. The tender offer was funded by cash proceeds provided to VillageMD pursuant to the Unit Purchase Agreement.

2.Fiscal 2022 includes $1.9 billion paid to existing shareholders of VillageMD as part of the fully subscribed tender offer and the acquisition of the remaining 30% non-controlling equity interests in the pharmaceutical wholesale business in Germany.

3.Remeasurement of non-controlling interests, probable of redemption but not currently redeemable, to their redemption value, is recorded to Paid-in capital in the Consolidated Balance Sheets. In fiscal 2023, Shields and CareCentrix redeemable non-controlling interests were recorded to redemption value.

4.Represents the reclassification of the Shields and CareCentrix redeemable non-controlling interests to Accrued expenses and other liabilities in the Consolidated Balance Sheets resulting from the Company’s full acquisition of Shields and CareCentrix.

Cash Dividends

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
August	$	0.2500	$	0.4800
Total	$	1.2300	$	1.9200

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Exit and disposal activities

12 Months Ended

Aug. 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. The program was subsequently expanded and extended, with the most recent update in fiscal 2023, when the Company increased its annual cost savings target from $3.5 billion to $4.5 billion by the end of fiscal 2024. While most of the initiatives under the program were completed by the end of fiscal 2024, certain initiatives are expected to extend into fiscal 2025. The Company does not expect to incur material exit and disposal charges related to the finalization of these initiatives.

The Transformational Cost Management Program, which was multi-faceted and included divisional optimization initiatives, global smart spending, global smart organization and the transformation of the Company’s information technology (“IT”) capabilities, was designed to help the Company achieve increased cost efficiencies. The Company took actions across all aspects of the Transformational Cost Management Program, which focused 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 included activities such as optimization of stores. The Transformational Cost Management Program resulted in the approval to close approximately 650 Boots stores in the United Kingdom (“UK”) and approximately 950 stores in the U.S. As of August 31, 2024, the Company has closed 624 and 676 stores in the UK and U.S., respectively.

Cumulative pre-tax charges to the Company’s GAAP financial results for the Transformational Cost Management Program were $4.3 billion, of which pre-tax charges for exit and disposal activities were $4.0 billion. The charges were primarily recorded within Selling, general and administrative expenses within the Consolidated Statements of Earnings. These charges included $1.7 billion related to lease obligations and other real estate costs, $1.0 billion in asset impairments, $1.0 billion in employee severance and business transition costs and $300 million of IT transformation and other exit costs. 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.

Costs related to exit and disposal activities under the Transformational Cost Management Program for fiscal 2024, 2023 and 2022, respectively, were as follows (in millions):


Fiscal 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	535	$	—	$	—	$	—	$	535
Asset impairments	104		16		8		—		128
Employee severance and business transition costs	93		(3)		6		6		102
Information technology transformation and other exit costs	39		19		13		—		70
Total pre-tax exit and disposal charges	$	770	$	32	$	26	$	6	$	835


Fiscal 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	492	$	23	$	—	$	1	$	516
Asset impairments	183		149		109		—		441
Employee severance and business transition costs	111		20		6		13		150
Information technology transformation and other exit costs	30		21		—		—		51
Total pre-tax exit and disposal charges	$	816	$	213	$	115	$	14	$	1,158


Fiscal 2022	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	247	$	2	$	—	$	—	$	249
Asset impairments	132		58		—		—		190
Employee severance and business transition costs	156		29		—		25		210
Information technology transformation and other exit costs	12		29		—		—		40
Total pre-tax exit and disposal charges	$	546	$	118	$	—	$	25	$	690

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, 2022	$	10	$	—	$	76	$	27	$	113
Costs	516		441		150		51		1,158
Payments	(105)		—		(160)		(55)		(320)
Other	(411)		(441)		2		—		(849)
Balance at August 31, 2023	$	10	$	—	$	70	$	22	$	102
Costs	535		128		102		70		835
Payments	(223)		—		(145)		(62)		(430)
Other	(315)		(128)		—		(28)		(471)
Balance at August 31, 2024	$	8	$	—	$	26	$	2	$	36

Other exit and disposal activities

In fiscal 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 Statements of Earnings.

In fiscal 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 Statements of Earnings.

Retirement benefits - change in plan assets (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 07, 2023	Aug. 31, 2024	Aug. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Employer contributions	$ 375
Pension Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at fair value at beginning of year		$ 5,594	$ 6,603
Employer contributions		435	40
Benefits paid		(309)	(286)
Return on assets		138	(1,275)
Currency translation adjustments		136	511
Plan assets at fair value at end of year		$ 5,994	$ 5,594

- Definition

+ References + Details

Goodwill and other intangible assets (Tables)

12 Months Ended

Aug. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Changes in the carrying amount of goodwill by reportable segment consist of the following activity (in millions):


Goodwill roll forward:	U.S. Retail Pharmacy		International 1		U.S. Healthcare		Walgreens Boots Alliance, Inc.
August 31, 2022	$	10,947	$	1,293	$	10,040	$	22,280
Acquisitions 2	—		—		5,588		5,588
Measurement period adjustments	—		—		252		252
Currency translation adjustments and other	—		85		(18)		67
August 31, 2023	$	10,947	$	1,378	$	15,863	$	28,187
Measurement period adjustments	—		—		19		19
Impairments	—		—		(12,701)		(12,701)
Currency translation adjustments and other	—		9		(8)		1
August 31, 2024	$	10,947	$	1,388	$	3,173	$	15,506

1.As of fiscal 2022, prior period goodwill impairment charges of $1.7 billion were recognized in the International Segment.

2.In fiscal 2023, additions to goodwill primarily relate to VillageMD’s acquisition of Summit.

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:	August 31, 2024		August 31, 2023
Gross amortizable intangible assets
Customer relationships and loyalty card holders 1	$	4,868	$	4,658
Provider networks	2,957		3,202
Trade names and trademarks	2,294		2,300
Developed technology	469		469
Others	156		137
Total gross amortizable intangible assets	$	10,745	$	10,767

Accumulated amortization
Customer relationships and loyalty card holders 1	$	2,127	$	1,784
Provider networks	411		233
Trade names and trademarks	558		401
Developed technology	221		143
Others	62		48
Total accumulated amortization	3,379		2,609
Total amortizable intangible assets, net	$	7,367	$	8,158

Indefinite-lived intangible assets
Trade names and trademarks	$	4,759	$	4,650
Pharmacy licenses	848		828
Total indefinite-lived intangible assets	$	5,607	$	5,477

Total intangible assets, net	$	12,973	$	13,635

1Includes purchased prescription files.

Schedule of finite-lived intangible assets, future amortization expense

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


	2025		2026		2027		2028		2029
Estimated annual amortization expense	$	974	$	930	$	840	$	756	$	688

Schedule of Indefinite-Lived Intangible Assets

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


Intangible assets:	August 31, 2024		August 31, 2023
Gross amortizable intangible assets
Customer relationships and loyalty card holders 1	$	4,868	$	4,658
Provider networks	2,957		3,202
Trade names and trademarks	2,294		2,300
Developed technology	469		469
Others	156		137
Total gross amortizable intangible assets	$	10,745	$	10,767

Accumulated amortization
Customer relationships and loyalty card holders 1	$	2,127	$	1,784
Provider networks	411		233
Trade names and trademarks	558		401
Developed technology	221		143
Others	62		48
Total accumulated amortization	3,379		2,609
Total amortizable intangible assets, net	$	7,367	$	8,158

Indefinite-lived intangible assets
Trade names and trademarks	$	4,759	$	4,650
Pharmacy licenses	848		828
Total indefinite-lived intangible assets	$	5,607	$	5,477

Total intangible assets, net	$	12,973	$	13,635

1Includes purchased prescription files.

- 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

Income taxes - reconciliation to effective tax rate (Details)	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	1.80%	(5.80%)	0.40%
Foreign income taxed at non-U.S. rates	0.30%	3.00%	(3.00%)
Non-taxable income	(0.30%)	(2.50%)	(2.70%)
Non-deductible expenses	0.90%	4.90%	3.00%
Change in valuation allowance	13.20%	(6.00%)	(9.00%)
Tax benefits from restructuring	0.00%	(1.10%)	0.00%
Uncertain tax positions	0.40%	0.50%	1.30%
Non-controlling interest	10.10%	2.90%	1.20%
Goodwill impairment	7.20%	0.00%	0.00%
Tax credits	(0.50%)	(2.80%)	(1.00%)
Conversion of equity investment	0.00%	0.00%	(11.80%)
Change in tax basis in foreign assets	(2.20%)	0.00%	0.00%
Change in outside basis difference	(1.40%)	(1.90%)	0.00%
Change in measurement of prior year tax positions	0.00%	(3.50%)	0.00%
Other	0.30%	(1.00%)	(0.20%)
Effective income tax rate	8.80%	(34.30%)	(0.80%)

Acquisitions and other Investments

12 Months Ended

Aug. 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, 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 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 (the “VillageMD Secured Loan”) 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. On August 2, 2024, the Company and VillageMD acknowledged the existence of defaults under the VillageMD Secured Loan. On August 6, 2024, the Company and VillageMD entered into a forbearance agreement relating to the intercompany facilities, whereby the Company has agreed not to exercise certain remedies available to it under the terms of the credit agreement, subject to VillageMD’s compliance with the conditions set forth in the forbearance agreement, and the Company is actively engaged in discussions with VillageMD’s stakeholders and other third parties with respect to the future of its investment in VillageMD.

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 fiscal 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 that 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

The following table represents unaudited supplemental pro forma consolidated sales for the years ended August 31, 2023 and 2022, 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.


(Unaudited, in millions)	2023		2022
Sales	$	140,039	$	135,379

Actual sales of Summit, from the acquisition date, for the year ended August 31, 2023, included in the Consolidated Statements of Earnings are as follows (in millions):


	2023
Sales	$	1,896

Pro forma net earnings of the Company, assuming the acquisition had occurred at the beginning of fiscal 2022, would not be materially different from the results reported.

VillageMD acquisition

On November 24, 2021, the Company completed the acquisition of VillageMD, a national provider of value-based primary care services. Pursuant to the terms and subject to the conditions set forth in the Unit Purchase Agreement, the Company purchased additional outstanding equity interests of VillageMD, increasing the Company’s total beneficial ownership in VillageMD’s outstanding equity interests from approximately 30% to approximately 63%, on a fully diluted basis, for a purchase price of $5.2 billion. The total purchase price was comprised of cash consideration of $4.0 billion and a promissory note of $1.2 billion. The cash consideration of $4.0 billion consisted of $2.9 billion paid to existing shareholders, including $1.9 billion paid to existing shareholders as part of the fully subscribed tender offer concluded on December 28, 2021, and $1.1 billion paid in exchange for new preferred units issued by VillageMD. Subject to notice being served, the Company had an option to prepay, and VillageMD had an option to require redemption of, the promissory note at any time. The promissory note was eliminated in consolidation within the Consolidated Balance Sheets as of August 31, 2022. The promissory note was paid in January 2023 prior to the Summit acquisition.

The Company accounted for this acquisition as a business combination resulting in consolidation of VillageMD within the U.S. Healthcare segment in its financial statements. A non-controlling interest was recognized at fair value.

As a result of this acquisition, in the three months ended November 30, 2021, the Company recognized a pre-tax gain in Other income, net in the Consolidated Statements of Earnings of $1.6 billion related to the fair valuation of the Company’s previously held minority equity interest. The Company also recorded a pre-tax gain of $577 million in Other income, net in the Consolidated Statements of Earnings related to the conversion to equity of the Company’s previously held investment in convertible debt securities of VillageMD, reclassified from within Accumulated other comprehensive income in the Consolidated Balance Sheets. A majority of the gains did not generate a tax expense.

In fiscal 2023, the Company completed the purchase price allocation and recorded certain deferred income tax related measurement period adjustments based on additional information, resulting in an increase to goodwill of $125 million.

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:
Total purchase price	$	5,200
Less: purchase price for issuance of new preferred units at fair value 1	(2,300)
Net consideration	2,900
Fair value of share-based compensation awards attributable to pre-combination services 2	683
Fair value of previously held equity and debt	3,211
Fair value of non-controlling interest	3,257
Total	$	10,051

Identifiable assets acquired and liabilities assumed:
Tangible assets 1	$	634
Intangible assets 3	1,621
Liabilities	(370)
Total identifiable net assets	$	1,885

Goodwill	$	8,166

1.Comprised of cash consideration of $1.1 billion and a promissory note of $1.2 billion. This consideration was provided in exchange for the issuance of new preferred units by VillageMD. VillageMD’s tangible assets acquired exclude this $1.1 billion of cash and $1.2 billion promissory note receivable.

2.Primarily related to vested share-based compensation awards.

3.Intangibles acquired include primary care provider network, trade names and developed technology, with a fair value of $1.2 billion, $295 million and $76 million, respectively. Estimated useful lives are 15, 13 and 5 years, respectively.

The goodwill represents anticipated future growth and expansion opportunities into new markets.

Shields acquisition

On October 29, 2021, the Company completed the acquisition of Shields, a specialty pharmacy integrator and accelerator for hospitals. Pursuant to the terms and subject to the conditions set forth in the Securities Purchase Agreement, the Company purchased additional outstanding equity interests of Shields, increasing the Company’s total beneficial ownership in Shields’ outstanding equity interests from 25% to approximately 70%, for cash consideration of $969 million. The Company accounted for this acquisition as a business combination resulting in consolidation of Shields within the U.S. Healthcare segment in its financial statements. A non-controlling interest was recognized at fair value. Under the terms of the transaction agreements, the Company had an option to acquire the remaining equity interests of Shields in the future. Shields’ other equity holders had an option to require the Company to purchase the remaining equity interests. Considering the contractual terms related to the non-controlling interests, it was classified as redeemable non-controlling interests in the Consolidated Balance Sheets upon acquisition.

In fiscal 2022, as a result of this acquisition the Company remeasured its previously held minority equity interest in Shields at fair value resulting in a pre-tax gain of $402 million recognized in Other income, net in the Consolidated Statements of Earnings. A majority of the gain did not generate a tax expense.

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	$	969
Fair value of share-based compensation awards attributable to pre-combination services	13
Fair value of previously held equity interests	502
Fair value of non-controlling interests	589
Total	$	2,074

Identifiable assets acquired and liabilities assumed:
Tangible assets	$	84
Intangible assets 1	1,060
Liabilities	(600)
Total identifiable net assets	$	544

Goodwill	$	1,529

1.Intangibles acquired include customer relationships, trade names and developed technology, with a fair value of $896 million, $47 million and $117 million. Estimated useful lives are 13, 13 and 5 years, respectively.

The goodwill represents anticipated future growth and expansion opportunities into new healthcare offerings.

On December 28, 2022 the Company acquired the remaining 30% equity interest for approximately $1.4 billion of cash consideration.

CareCentrix acquisition

On August 31, 2022, the Company completed the acquisition of CareCentrix. Pursuant to the terms and subject to the conditions set forth in the Membership Interest Purchase Agreement, the Company acquired approximately 55% controlling equity interest in CareCentrix, a participant in the post-acute and home care management sectors, for cash consideration of $339 million. The cash consideration includes $12 million paid to employees, which was recognized as compensation expense by the Company.

The Company accounted for this acquisition as a business combination resulting in consolidation of CareCentrix within the U.S. Healthcare segment in its financial statements. A non-controlling interest was recognized at fair value. Under the terms of the transaction agreements, the Company had an option to acquire the remaining equity interests of CareCentrix in the future. CareCentrix’s other equity holders also had an option to require the Company to purchase the remaining equity interests. Considering the contractual terms related to the non-controlling interests, it was classified as redeemable non-controlling interests in the Consolidated Balance Sheets.

In fiscal 2023, the Company completed the purchase price allocation and recorded certain measurement period adjustments based on additional information, primarily related to acquired intangible assets and certain liabilities assumed, resulting in an increase to goodwill of $56 million.

In fiscal 2023, 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	327
Contingent consideration	4
Fair value of share-based compensation awards attributable to pre-combination services	66
Fair value of non-controlling interests	217
Total	$	614

Identifiable assets acquired and liabilities assumed:
Tangible assets	$	358
Intangible assets 2	426
Liabilities	(680)
Total identifiable net assets	$	104

Goodwill	$	509

1.Excludes $12 million of cash paid to employees, which was recognized as compensation expense by the Company.

2.Intangibles acquired include customer relationships, trade names and developed technology, with a fair value of $247 million, $93 million and $86 million, respectively. Estimated useful lives are 13, 13 and 5 years, respectively.

The goodwill represents anticipated future growth and expansion opportunities into new healthcare offerings.

On March 31, 2023, the Company acquired the remaining 45% equity interest in CareCentrix for approximately $378 million of cash consideration.

Supplemental pro forma information

The following table represents unaudited supplemental pro forma consolidated sales for fiscal 2022 acquisitions, for the year ended August 31, 2022, as if the acquisitions had occurred at the beginning of fiscal 2022. 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 acquisitions occurred at the beginning of the period presented or results which may occur in the future.


(Unaudited, in millions)	2022
Sales	$	134,314

Actual sales of the acquisitions for the year ended August 31, 2022 included in the Consolidated Statements of Earnings are as follows (in millions):


	2022
Sales	$	1,795

Pro forma net earnings of the Company, assuming the acquisitions had occurred at the beginning of fiscal 2022, would not be materially different from the results reported.

See Note 16. Segment reporting, for further information.

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 fiscal 2024, the Company completed the purchase price allocation.

The Company acquired prescription files and related pharmacy inventory primarily in the U.S. for an aggregate purchase price of $533 million and $324 million during fiscal 2024 and 2023, respectively.

Segment reporting - narrative (Details) - segment	12 Months Ended
Segment reporting - narrative (Details) - segment	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Segment Reporting [Abstract]
Number of reportable segments	3
Three Third-Party Payers \| Revenues \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	34.00%	33.00%	31.00%

Summary of major accounting policies (Policies)

12 Months Ended

Aug. 31, 2024

Accounting Policies [Abstract]

Basis of presentation

The Consolidated 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 preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“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.

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, dispositions, asset impairments and 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 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 Financial Statements and accompanying notes to conform to the current period presentation.

Cash and cash equivalents

Cash and cash equivalents include cash on hand, qualifying money market funds, and other highly liquid investments with an original maturity of three months or less at the date of acquisition. Credit and debit card receivables, which generally settle within one to seven business days, of $235 million and $122 million were included in cash and cash equivalents at August 31, 2024 and 2023, respectively.

Restricted cash and other cash flows from operating activities

Restricted cash

The Company is required to maintain cash deposits with certain banks that consist of deposits restricted under contractual agreements and cash restricted by law and other obligations.

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 August 31, 2024 and 2023, respectively. Other accounts receivable balances, which consist primarily of receivables from vendors and manufacturers, including receivables from Cencora, Inc. (“Cencora”) (see Note 17. Related parties, for further information), were $1.0 billion and $1.1 billion at August 31, 2024 and 2023, respectively.

Charges for the Company’s expected credit losses are recognized based upon all available information regarding the collectability of receivables, including historical information, current conditions and reasonable and supportable forecasts of future economic conditions over the short contractual life of the receivable.

Inventories

The Company values inventories on a lower of cost and net realizable value or market basis. Inventories include product costs, inbound freight, direct labor, warehousing costs for retail pharmacy operations, and distribution costs of products, and are reduced by vendor allowances not classified as a reduction of advertising expense.

The Company’s U.S. Retail Pharmacy segment inventory is accounted for using the last-in-first-out (“LIFO”) method. The total carrying value of the segment inventory accounted for under the LIFO method was $6.3 billion and $6.2 billion at August 31, 2024 and 2023, respectively. At August 31, 2024 and 2023, U.S. Retail Pharmacy segment inventory would have been greater by $3.7 billion and $3.6 billion, respectively, if it had been valued on a lower of first-in-first-out (“FIFO”) cost and net realizable value.

The Company’s International segment inventory is accounted for using average cost and the FIFO method.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation. Major repairs, which extend the useful life of an asset, are capitalized; routine maintenance and repairs are charged against earnings. Depreciation is provided on a straight-line basis over the estimated useful lives of owned assets. Leasehold improvements, equipment under finance lease and finance lease properties are amortized over their respective estimated useful life or over the term of the lease, whichever is shorter.

The following table summarizes the Company’s property, plant and equipment (in millions) and estimated useful lives (in years):


	Estimated useful life	2024		2023
Land and land improvements 1	20	$	1,455	$	1,778
Buildings and building improvements	3 to 50	6,117		6,683
Fixtures and equipment	3 to 20	9,720		9,782
Capitalized system development costs and software	3 to 10	3,528		3,821
Assets under construction		673		1,400
Finance lease properties		1,143		1,075
		$	22,636	$	24,540
Less: accumulated depreciation and amortization		12,863		12,953
Balance at end of year		$	9,772	$	11,587

1.Land is not depreciated.

The Company capitalizes application development stage costs for internally developed software.

Leases

The Company leases certain retail stores, clinics, warehouses, distribution centers, office space, land and equipment. Initial terms for leased premises in the United States 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.

The lease term of real estate leases includes renewal options that are reasonably certain of being exercised. Options to extend are considered reasonably certain of being exercised based on evaluation if there are significant investments within the leased property which have useful lives greater than the non-cancelable lease term, performance of the underlying store and the Company’s economic and strategic initiatives. Short-term leases with an initial term of 12 months or less are not recorded on the balance sheets.

The Company determines if an arrangement contains a lease at the inception of a contract. The lease classification is determined at the commencement date. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease during the lease term. Right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of the remaining future minimum lease payments during the lease term. Lease commencement is the date the Company has the right to control the property. The Company utilizes its incremental borrowing rate to discount the lease payments. The incremental borrowing rate is based on the Company’s estimated rate of interest for a collateralized borrowing over a similar term as the lease term. The operating lease right-of-use assets also include lease payments made before lease commencement date and lease incentives, and are recorded net of impairment. Operating leases are expensed on a straight line basis over the lease term.

The Company accounts for lease components and non-lease components as a single lease component. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the right-of-use assets or lease liabilities. These are expensed as incurred. The Company has real estate leases that require additional payments based on sales volume, as well as reimbursement for real estate taxes, common area maintenance and insurance, which are expensed as incurred as variable lease costs and hence are not included in the lease payments used to calculate lease liability. Other real estate leases contain one fixed lease payment that includes real estate taxes, common area maintenance and insurance. These fixed payments are considered part of the lease payment and included in the right-of-use assets and lease liabilities. The Company does not separately account for the land portion of the leases involving land and building.

Finance leases are recognized within property, plant and equipment and as a finance lease liability within accrued expenses and other liabilities and other non-current liabilities.

Business combinations

The Company allocates the fair value of purchase consideration to the tangible and intangible assets purchased and the liabilities assumed on the basis of their fair values at the date of acquisition. The determination of fair values of assets acquired and liabilities assumed requires estimates and the use of valuation techniques when a market value is not readily available. Any excess of purchase price over the fair value of net tangible and intangible assets acquired is allocated to goodwill. If the Company obtains new information about facts and circumstances that existed as of the acquisition date during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to fair value of the purchase consideration and the allocation of purchase consideration to all tangible and intangible assets acquired and identified and liabilities assumed.

Variable interest entities

The Company consolidates certain subsidiaries of Village Practice Management Company Holdings, LLC through its principal subsidiary Village Practice Management Company, LLC (“VillageMD”), which are clinical entities and managed services organizations (collectively, the “Entities”) where VillageMD has a controlling financial interest. The Entities were established to employ healthcare providers, contract with payors, or to deliver healthcare services to patients and are designed to comply with certain regulatory and legal requirements.

VillageMD generally has no equity interests in the Entities. The Entities are variable interest entities because there is insufficient equity at-risk in the Entities to finance their operations without additional financial support and the equity holders of the Entities generally lack the characteristics of a controlling financial interest. VillageMD’s service agreements (“SAs”) are variable interests in the Entities because they transfer substantially all the residual risks and rewards of ownership in the Entities to VillageMD.

VillageMD has the power to direct the activities of the Entities that most significantly impact their economic performance through the SAs. The activities that most significantly impact the economic performance of the Entities pertain to establishing the scope of services provided, fees charged for clinical services, negotiation and execution of contracts and managing policies and procedures related to management of VillageMD’s patient population.

The SAs generally provide VillageMD with rights to substantially all the earnings of the Entities and obligate VillageMD to fund losses of the Entities. As a result, VillageMD is the primary beneficiary of the Entities and consolidates the Entities. The assets and liabilities of the Entities and the Entities’ results of operations are presented in the Company’s consolidated financial statements.

The Entities’ revenues consist of amounts recognized for services provided to patients. Cost of sales and Selling, general and administrative expenses consist primarily of provider compensation expenses as well as clinical operating and support costs. VillageMD is also exposed to the risk of loss from certain Entities’ involvement with risk-based arrangements.

There are generally no restrictions on the Entities’ assets or on the settlement of its liabilities. The assets of the Entities can be used to settle obligations of VillageMD and creditors of Entities have recourse to the general credit of the Company.

Goodwill and indefinite-lived intangible assets

Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in business combinations. Goodwill is assigned to reporting units. Reporting units are aggregated and deemed a single reporting unit if the components have similar economic characteristics. Acquired intangible assets are recorded at fair value.

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 could more likely than not reduce the fair value of a reporting unit or intangible asset below its carrying value. As part of the Company’s impairment analysis, fair value of a reporting unit is generally determined using the income and market approaches. The income approach requires management to estimate a number of factors for each reporting unit, including 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 with respect 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 we compete, discount rates, terminal growth rates, forecasts of revenue, operating income, depreciation, amortization, working capital requirements and capital expenditures.

The Company also compares the sum of estimated fair values of reporting units to the Company’s fair value as implied by the market value of its equity securities. This comparison provides an indication that, in total, assumptions and estimates are reasonable. Future declines in the overall market value of the Company’s equity securities may provide an indication that the fair value of one or more reporting units has declined below its carrying value.

Indefinite-lived intangible assets are tested for impairment by comparing the estimated fair value of the asset to its carrying value. If the carrying value of the asset exceeds its estimated fair value, an impairment loss is recognized and the asset is written down to its estimated fair value. Indefinite-lived intangible assets fair values are estimated using the relief from royalty method and multi-period excess earnings method of the income approach. The determination of the fair value of the indefinite-lived intangibles requires the Company to make significant estimates and assumptions. These estimates and assumptions primarily include, but are not limited to forecasts of revenues and expenses, the selection of appropriate royalty rate and discount rates.

Equity method investments

The Company uses the equity method of accounting for equity investments if the investment provides the ability to exercise significant influence, but not control, over operating and financial policies of the investee. The Company’s proportionate share of the net income or loss of these investees is included in consolidated net earnings. Judgment regarding the level of influence over each equity method investment includes considering key factors such as the Company’s ownership interest, legal form of the investee (e.g. limited liability partnership), representation on the board of directors, participation in policy-making decisions and material intra-entity transactions.

The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified.

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. Additionally, the Company economically hedges a portion of its exposure to equity price risk related to its investment in Cencora through variable prepaid forward (“VPF”) derivative contracts. In accordance with its risk management policies, the Company does not hold or issue derivative instruments for trading or speculative purposes.

Derivatives are recognized on the Consolidated Balance Sheets at their fair values. When the Company becomes a party to a derivative instrument and intends to apply hedge accounting, it formally documents the hedge relationship and the risk management objective and strategy for undertaking the hedge, which includes designating the instrument for financial reporting purposes as a fair value hedge, a cash flow hedge, or a net investment hedge. The accounting for changes in fair value of a derivative instrument depends on whether the Company had designated it in a qualifying hedging relationship and on the type of hedging relationship. The Company applies the following accounting policies:

•Changes in the fair value of a derivative designated as a fair value hedge, along with the gain or loss on the hedged asset or liability attributable to the hedged risk, are recorded in the Consolidated Statements of Earnings in the same line item, generally interest expense, net.

•Changes in the fair value of a derivative designated as a cash flow hedge are recorded in accumulated other comprehensive loss in the Consolidated Statements of Comprehensive Income and reclassified into earnings in the period or periods during which the hedged item affects earnings and is presented in the same line item as the earnings effect of the hedged item.

•Changes in the fair value of a derivative designated as a hedge of a net investment in a foreign operation are recorded in cumulative translation adjustments within accumulated other comprehensive loss in the Consolidated Statements of Comprehensive Income. Recognition in earnings of amounts previously recorded in cumulative translation adjustments is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged investments in foreign operations.

•Changes in the fair value of a derivative not designated in a hedging relationship are recognized in the Consolidated Statements of Earnings.

Cash receipts or payments on a settlement of a derivative contract are reported in the Consolidated Statements of Cash Flows consistent with the nature of the underlying hedged item.

For derivative instruments designated as hedges, the Company assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Highly effective means that cumulative changes in the fair value of the derivative are between 80% and 125% of the cumulative changes in the fair value of the hedged item. In addition, when the Company determines that a derivative is not highly effective as a hedge, hedge accounting is discontinued. When it is probable that a hedged forecasted transaction will not occur, the Company discontinues hedge accounting for the affected portion of the forecasted transaction and reclassifies any gains or losses in accumulated other comprehensive loss to earnings in the Consolidated Statements of Earnings. When a derivative in a hedge relationship is terminated or the hedged item is sold, extinguished or terminated, hedge accounting is discontinued prospectively.

Pension and postretirement benefits

Pension and post-retirement benefits

The Company has various defined benefit pension plans that cover some of its non-U.S. employees. The Company also has a post-retirement healthcare plan that covers qualifying U.S. employees. Eligibility and the level of benefits for these plans vary depending on participants’ status, date of hire and or length of service. Pension and post-retirement healthcare plan expenses and valuations are dependent on assumptions used by third-party actuaries in calculating those amounts. These assumptions include discount rates, healthcare cost trends, long-term return on plan assets, retirement rates, mortality rates and other factors.

The Company funds its pension plans in accordance with applicable regulations. The Company records the service cost component of net pension cost and net post-retirement healthcare benefit cost in Selling, general and administrative expenses in the Consolidated Statements of Earnings. The Company records all other net cost components of net pension cost and net post-retirement benefit cost in Other income, net in the Consolidated Statements of Earnings. The post-retirement healthcare plan is not funded.

Redeemable noncontrolling interest

Redeemable non-controlling interests

The Company presents non-controlling interests in temporary equity within its Consolidated Balance Sheets if it is redeemable at a fixed or determinable price on a fixed or determinable date on the option of the holder, or upon the occurrence of an event that is not solely within the control of the Company.

The carrying amount of the redeemable non-controlling interests is equal to the greater of the carrying value of non-controlling interests adjusted each reporting period for income or loss attributable to the non-controlling interests as well as any applicable distributions made or the redemption value. Re-measurements to the redemption value of the redeemable non-controlling interests are recognized in Paid-in capital within the Consolidated Balance Sheets. The Company reports the portion of its earnings or loss for redeemable non-controlling interest as Net loss attributable to non-controlling interests, in the Consolidated Statements of Earnings.

Noncontrolling interests

Non-controlling interests

The Company presents non-controlling interests as a component of equity on its Consolidated Balance Sheets and reports the portion of earnings or losses for non-controlling interests as Net loss attributable to non-controlling interests in the Consolidated Statements of Earnings.

Non-controlling interests primarily relates to VillageMD. As of August 31, 2024 and 2023, VillageMD non-controlling interests comprise 16.0 million and 16.0 million preferred units and 6.7 million and 6.5 million common units, including incentive units, respectively.

Preferred units non-controlling interests have an aggregate liquidation preference of $4.9 billion. All preferred units are convertible into VillageMD common units and certain preferred units are also subject to redemption features controlled by the Company. All preferred units participate in dividends declared by the VillageMD board in the ordinary course of business and in distributions upon a winding-up or change in control of VillageMD. Certain preferred units also participate in cumulative compounding dividends that accumulate at a rate of 5.5% per annum based on the adjusted issue price of the preferred unit and may be settled in cash or shares at the option of the preferred unit holder.

Currency

Assets and liabilities of non-U.S. dollar functional currency operations are translated into U.S. dollars at end-of-period exchange rates while revenues, expenses and cash flows are translated at average monthly exchange rates over the period. Equity is translated primarily at historical exchange rates and the resulting cumulative translation adjustments are included as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets.

Assets and liabilities not denominated in the functional currency are remeasured into the functional currency at end-of-period exchange rates, except for non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Revenues and expenses are recorded at average monthly exchange rates over the period, except for those expenses related to non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are generally included in Other income, net within the Consolidated Statements of Earnings.

Commitments and contingencies

The Company assesses its liabilities and contingencies for outstanding legal proceedings, and reserves are established on a case-by-case basis for those legal claims for which management concludes that it is probable that a loss will be incurred and that the amount of such loss can be reasonably estimated. Substantially all of these contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. With respect to litigation and other legal proceedings where the Company has determined that a loss is reasonably possible, the Company may be unable to estimate the amount or range of reasonably possible loss due to the inherent difficulty of predicting the outcome of and uncertainties regarding such litigation and legal proceedings. The Company’s assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause the Company to change those estimates and assumptions. Therefore, it is possible that an unfavorable resolution of one or more pending litigation or other contingencies could have a material adverse effect on the Company’s Consolidated Financial Statements in a future fiscal period. Management’s assessment of current litigation and other legal proceedings, including the corresponding accruals, could change because of the discovery of facts with respect to legal actions or other proceedings pending against the Company that are not presently known. Adverse rulings or determinations by judges, juries, governmental authorities or other parties could also result in changes to management’s assessment of current liabilities and contingencies. Accordingly, the ultimate costs of resolving these claims may be substantially higher or lower than the amounts reserved.

Revenue recognition, Cost of sales

Revenue recognition

Sales are recognized at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring control of goods or services to the customer. Sales are reported on the gross amount billed to a customer less discounts if it has earned revenue as a principal from the sale of goods and services. Sales are reported on the net amount retained (i.e., the amount billed to the customer less the amount paid to a vendor) if the Company has earned a commission or a fee as an agent.

Retail and Pharmacy

The Company recognizes revenue, net of taxes and expected returns, at the time it sells merchandise, provides services or dispenses prescription drugs to the customer. The Company estimates revenue based on expected reimbursements from third-party payors (e.g., pharmacy benefit managers, insurance companies and governmental agencies) for dispensing prescription drugs. The estimates are based on all available information including historical experience and are updated to actual reimbursement amounts.

The Company’s loyalty rewards programs represent separate performance obligations and are accounted for using the deferred revenue approach. When goods are sold, the transaction price is allocated between goods sold and loyalty points or Walgreens cash awarded based upon the relative standalone selling price. The revenue allocated to the loyalty points is recognized upon redemption. Loyalty programs breakage is recognized as revenue based on the redemption pattern. Customer purchases of the Company’s own gift cards are not recognized as revenue until the card is redeemed. Gift card breakage (i.e., unused gift card) is recognized as revenue based on the redemption pattern.

The Company recognizes contract liabilities to record the Company’s obligation to transfer additional goods or services to a customer for which the Company has received consideration, for example the Company’s myWalgreens and Boots Advantage Card loyalty programs. Under such programs, customers earn Walgreens Cash or reward points on purchases for redemption at a later date.

Wholesale

Wholesale revenue is recognized, net of taxes and expected returns, upon shipment of goods, which is generally also the day of delivery.

Healthcare services

The Company provides healthcare services under fee-for-service and value-based arrangements. Fee-for-service revenues are recognized at the point-in-time medical care is provided. Revenues are reported based on expected net collection rates, which are calculated based on historical collection rates in relation to amounts billed at the time of service. Most of the Company’s value-based arrangements are Medicare Advantage (“MA”) contracts or direct contracting arrangements under the Centers for Medicare and Medicaid Services (“CMS”) Accountable Care Organization Realizing Equity, Access, and Community Health (“ACO REACH”) Model. Revenues from value-based arrangements (“risk-based revenues”) are primarily earned from contracts in which the Company has full or shared risk for the healthcare payor’s eligible members (“value-based patients”). Risk-based revenues are recognized ratably over the term of the contract (generally, one year or less) as the Company’s stand-ready obligation to provide healthcare services is satisfied. The Company receives fees from payors that are generally based on a fixed monthly percentage of the premium received by the payor from the payor’s members, or a portion of the payor’s savings relative to an agreed-upon financial benchmark. The Company estimates transaction price based on historical data and data from the payors. Estimates are adjusted to the final settlement amount received from the payor. The Company evaluates whether it is a principal or agent in an arrangement based on the Company’s exposure to financial risk under the arrangement and the Company’s control over the provision of services. The Company has determined that it acts as a principal in the vast majority of its arrangements.

Cost of sales

Retail, Pharmacy and Wholesale

Cost of sales includes the purchase price of goods and cost of services rendered, store and warehouse inventory loss, inventory obsolescence, warehousing costs for retail operations, purchasing costs, freight costs, cash discounts, vendor allowances and supplier rebates. Cost of sales is derived based upon point-of-sale scanning information with an estimate for shrinkage and is adjusted based on periodic inventory counts.

Vendor allowances are principally received as a result of purchases, sales or promotion of vendors’ products. Allowances are generally recorded as a reduction of inventory and are recognized as a reduction of cost of sales when the related merchandise is sold. Allowances received for promoting vendors’ products, if received for a specific, incremental, identifiable cost, are offset against advertising expense and result in a reduction of Selling, general and administrative expenses to the extent of advertising costs incurred, with the excess treated as a reduction of inventory costs. Rebates or refunds received by the Company from its suppliers, mostly in cash, are considered as an adjustment of the prices of the supplier’s products purchased by the Company.

Healthcare services

For operations and activities related to the provision of healthcare, cost of services includes activities that are directly related to the provision of care, including medical claims expense, cost of care, clinic operating and support costs, and allocated depreciation and amortization.

Medical claims expense represents medical claims expenses related to fee-for-service and value-based arrangements and primarily includes costs for third-party healthcare service providers, including contracted providers, that provide medical care to patients. Medical claims expense and the liability for unpaid claims include estimates of the Company’s obligations for medical care services that have been rendered by third parties for which the Company is contractually obligated to pay, but for which claims have either not yet been received, processed or paid. The Company develops estimates for medical care services incurred but not reported (“IBNR”) utilizing actuarial models when a sufficient amount of medical claims history is available from the third-party healthcare service providers. In developing its unpaid claims liability estimates, the Company applies different estimation methods depending on which incurred claims are being estimated.

Cost of care represents the cost of employed providers and certain affiliated providers, including base compensation, quality incentive bonuses, provider benefits and share-based compensation. Clinic operating and support costs include costs incurred to operate clinics, including clinical care support staff, patient support staff, population health management employees, rent, utilities and supplies.

Selling, general and administrative expenses

Selling, general and administrative expenses mainly consist of salaries and employee costs, occupancy costs, depreciation and amortization, credit and debit card fees and expenses directly related to stores. In addition, other costs included are headquarters’ expenses, advertising costs (net of vendor advertising allowances), wholesale warehousing costs and insurance.

Advertising costs

Advertising costs are reduced by the portion funded by vendors, if reimbursement represents a specific, incremental, identifiable cost, and expensed as incurred or when services have been received. Net advertising expenses, which are included in Selling, general and administrative expenses in the Consolidated Statements of Earnings, were $694 million, $775 million and $862 million for fiscal 2024, 2023, and 2022, respectively.

Impairment of long-lived assets

The Company evaluates the recoverability of long-lived assets whenever events or changes in circumstances indicate that the carrying value of such an asset may not be recoverable. Long-lived assets related to the Company’s retail, pharmacy and healthcare operations include property, plant and equipment, definite lived intangibles, and right of use assets. The evaluation of long-lived assets is performed at the lowest level of identifiable cash flows, typically at the store level for retail pharmacy operations. If the asset group fails the recoverability test, then an impairment charge is determined based on the difference between the fair value of the asset group compared to its carrying value. Fair value of the asset group is generally determined using a market or an income approach based on cash flows expected from the use and eventual disposal of the asset group.

Stock compensation plans

Stock based compensation is measured at fair value at the grant date. The Company grants, performance shares and restricted units, and has historically granted stock options, to the Company’s non-employee directors, officers and employees. The Company recognizes compensation expense on a straight-line basis over the requisite service period. The fair value of each performance share granted assumes that performance goals will be achieved at 100 percent. Subsequently, the Company reassesses the probability of achieving the performance goals and vesting and adjusts compensation expense accordingly, including the reversal of previously recognized compensation expense if it is no longer probable that the awards will vest. Certain performance shares are also subject to market conditions based on total shareholder return. Such conditions are included in the fair-value-based measure of the award at the grant date. See Note 12. Stock compensation plans, for further information on the Company’s stock-based compensation plans.

Insurance

The Company obtains insurance coverage for catastrophic exposures as well as those risks required by law to be insured. In general, the Company’s U.S. subsidiaries retain a significant portion of losses related to workers’ compensation, property, comprehensive general, pharmacist, and vehicle liability and full-risk value-based arrangements, while non-U.S. subsidiaries manage their exposures through insurance coverage with third-party carriers. The U.S. Healthcare segment also maintains medical malpractice insurance including professional liability insurance. Management regularly reviews the probable outcome of claims and proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage and the established accruals for liabilities. Liabilities for losses are recorded based upon the Company’s estimates for both claims incurred and claims incurred but not reported. The provisions are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions.

Income taxes

The Company accounts for income taxes according to the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based upon the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured pursuant to tax laws using rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized.

In determining the provision for income taxes, the Company uses income, permanent differences between book and tax income, the relative proportion of foreign and domestic income, enacted statutory income tax rates, projections of income subject to Subpart F rules and unrecognized tax benefits related to current period results. Discrete events such as the assessment of the ultimate outcome of tax audits, audit settlements, recognizing previously unrecognized tax benefits due to lapsing of the applicable statute of limitations, recognizing or de-recognizing benefits of deferred tax assets due to future year financial statement projections and changes in tax laws are recognized in the period in which they occur.

The Company is subject to routine income tax audits that occur periodically in the normal course of business. U.S. federal, state, local and foreign tax authorities raise questions regarding the Company’s tax filing positions, including the timing and amount of deductions and the allocation of income among various tax jurisdictions. In evaluating the tax benefits associated with the various tax filing positions, the Company records a tax benefit for uncertain tax positions using the highest cumulative tax benefit that is more likely than not to be realized. Adjustments are made to the liability for unrecognized tax benefits in the period in which the Company determines the issue is effectively settled with the tax authorities, the statute of limitations expires for the return containing the tax position or when more information becomes available.

Earnings per share

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 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 has evaluated the effect of adopting this new accounting guidance and does not expect adoption will have a material impact on the Company’s results of operations, cash flows, or financial position.

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 requires the Company to disclose significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and are included within each reported measure of segment operating results. The ASU also requires the Company to disclose the total amount of any other items included in segment operating results that were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items. In addition, the ASU requires disclosure of the CODM’s title and position, as well as detail on how the CODM uses the reported measure of segment operating results to evaluate segment performance and allocate resources. The ASU also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. 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 has evaluated the effect of adopting this new accounting guidance. While the standard requires additional disclosures related to the Company’s reportable segments, the standard will not have any impact on the Company’s consolidated operating results, financial condition, or cash flows.

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.

Summary of major accounting policies - reconciliation of cash, cash equivalents and restricted cash (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,319	$ 728	$ 1,358
Marketable securities	1,790	11	1,114
Cash and cash equivalents - assets held for sale (included in other current assets)	0	24	0
Restricted cash (included in other current and non-current assets)	110	93	86
Cash, cash equivalents, marketable securities and restricted cash	$ 3,218	$ 856	$ 2,558	$ 1,270

Leases - Narrative (Details) $ in Millions	Aug. 31, 2024 USD ($)
Leases [Abstract]
Undiscounted minimum lease payments, payments associated with options to extend lease terms	$ 3,500
Lessor, operating lease, payments to be received	$ 592

Acquisitions and other Investments - schedule of purchase price allocation and identifiable assets acquired and liabilities assumed - Care Centrix (Details) - USD ($) $ in Millions	Aug. 31, 2022	Aug. 31, 2024	Aug. 31, 2023
Identifiable assets acquired and liabilities assumed:
Goodwill	$ 22,280	$ 15,506	$ 28,187
CareCentrix, Inc.
Purchase price allocation:
Cash consideration	327
Contingent consideration	4
Fair value of equity consideration	66
Fair value of non-controlling interest	217
Total	614
Identifiable assets acquired and liabilities assumed:
Tangible assets	358
Intangible assets	426
Liabilities	(680)
Total identifiable net assets	104
Goodwill	$ 509

Retirement benefits - accumulated benefit obligations in excess of plan assets (Details) - Pension Plan - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 5,433	$ 5,515
Accumulated benefit obligation	5,423	5,503
Fair value of plan assets	$ 5,994	$ 5,594

Related parties (Tables)

12 Months Ended

Aug. 31, 2024

Schedule of related party transactions

Related party transactions with Cencora (in millions):


	2024		2023		2022
Purchases, net	$	73,918	$	65,173	$	62,174

Trade accounts payable, net of receivables	$	9,259	$	7,814	$	6,915

Exit and disposal activities (Tables)

12 Months Ended

Aug. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring costs and reserves

Costs related to exit and disposal activities under the Transformational Cost Management Program for fiscal 2024, 2023 and 2022, respectively, were as follows (in millions):


Fiscal 2024	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	535	$	—	$	—	$	—	$	535
Asset impairments	104		16		8		—		128
Employee severance and business transition costs	93		(3)		6		6		102
Information technology transformation and other exit costs	39		19		13		—		70
Total pre-tax exit and disposal charges	$	770	$	32	$	26	$	6	$	835


Fiscal 2023	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	492	$	23	$	—	$	1	$	516
Asset impairments	183		149		109		—		441
Employee severance and business transition costs	111		20		6		13		150
Information technology transformation and other exit costs	30		21		—		—		51
Total pre-tax exit and disposal charges	$	816	$	213	$	115	$	14	$	1,158


Fiscal 2022	U.S. Retail Pharmacy		International		U.S. Healthcare		Corporate and Other		Walgreens Boots Alliance, Inc.
Lease obligations and other real estate costs	$	247	$	2	$	—	$	—	$	249
Asset impairments	132		58		—		—		190
Employee severance and business transition costs	156		29		—		25		210
Information technology transformation and other exit costs	12		29		—		—		40
Total pre-tax exit and disposal charges	$	546	$	118	$	—	$	25	$	690

Schedule of restructuring reserve by type of cost

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, 2022	$	10	$	—	$	76	$	27	$	113
Costs	516		441		150		51		1,158
Payments	(105)		—		(160)		(55)		(320)
Other	(411)		(441)		2		—		(849)
Balance at August 31, 2023	$	10	$	—	$	70	$	22	$	102
Costs	535		128		102		70		835
Payments	(223)		—		(145)		(62)		(430)
Other	(315)		(128)		—		(28)		(471)
Balance at August 31, 2024	$	8	$	—	$	26	$	2	$	36

Capital stock	12 Months Ended
Capital stock	Aug. 31, 2024
Capital Stock [Abstract]
Capital stock	Capital stock In June 2018, Walgreens Boots Alliance authorized a stock repurchase program (the “June 2018 stock repurchase program”), which authorized the repurchase of up to $10.0 billion of the Company’s common stock, which program has no specified expiration date. In July 2020, the Company announced that it had suspended activities under this program and no shares were repurchased in fiscal 2023 or 2024. As of August 31, 2024, the Company had approximately $2.0 billion remaining under the June 2018 stock repurchase program. The Company determines the timing and amount of repurchases based on its assessment of various factors including prevailing market conditions, alternate uses of capital, liquidity, the economic environment and other factors. The timing and amount of these purchases may change at any time and from time to time. The Company has repurchased, and may from time to time in the future repurchase, shares on the open market through Rule 10b5-1 plans, which enable a company to repurchase shares at times when it otherwise might be precluded from doing so under insider trading laws. In addition, the Company continued to repurchase shares to support the needs of the employee stock plans. Shares totaling $69 million, $150 million and $187 million were purchased to support the needs of the employee stock plans during fiscal 2024, 2023 and 2022, respectively. As of August 31, 2024, 45 million shares of common stock were reserved for future issuances under the Company’s various employee benefit plans.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,319	$ 728
Marketable securities	1,790	11
Accounts receivable, net	5,851	5,381
Inventories	8,320	8,257
Other current assets	1,055	1,127
Total current assets	18,335	15,503
Non-current assets:
Property, plant and equipment, net	9,772	11,587
Operating lease right-of-use assets	20,335	21,667
Goodwill	15,506	28,187
Intangible assets, net	12,973	13,635
Equity method investments (see Note 5)	2,269	3,497
Other non-current assets	1,846	2,550
Total non-current assets	62,702	81,125
Total assets	81,037	96,628
Current liabilities:
Short-term debt	1,505	917
Trade accounts payable (see Note 17)	14,082	12,635
Operating lease obligations	2,382	2,347
Accrued expenses and other liabilities	8,673	8,426
Income taxes	312	209
Total current liabilities	26,953	24,535
Non-current liabilities:
Long-term debt	8,044	8,145
Operating lease obligations	20,921	22,124
Deferred income taxes	1,195	1,318
Accrued litigation obligations	6,008	6,261
Other non-current liabilities	5,736	5,757
Total non-current liabilities	41,905	43,605
Commitments and contingencies (see Note 10)
Total liabilities	68,858	68,140
Redeemable non-controlling interests	174	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 August 31, 2024 and August 31, 2023	12	12
Paid-in capital	10,645	10,661
Retained earnings	23,348	33,058
Accumulated other comprehensive loss	(2,897)	(2,993)
Treasury stock, at cost; 308,513,185 shares at August 31, 2024 and 308,839,832 shares at August 31, 2023	(20,662)	(20,717)
Total Walgreens Boots Alliance, Inc. shareholders’ equity	10,445	20,020
Non-controlling interests	1,561	8,302
Total equity	12,005	28,322
Total liabilities, redeemable non-controlling interests and equity	$ 81,037	$ 96,628

Acquisitions and other Investments - schedule of purchase price allocation and identifiable assets acquired and liabilities assumed - Village MD (Details) - USD ($) $ in Millions	Nov. 24, 2021	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Identifiable assets acquired and liabilities assumed:
Goodwill		$ 15,506	$ 28,187	$ 22,280
VillageMD
Purchase price allocation:
Total purchase price	$ 5,200
Less: purchase price for issuance of new preferred units at fair value	(2,300)
Net consideration	2,900
Fair value of equity consideration	683
Fair value of previously held equity and debt	3,211
Fair value of non-controlling interest	3,257
Total	10,051
Identifiable assets acquired and liabilities assumed:
Tangible assets	634
Intangible assets	1,621
Liabilities	(370)
Total identifiable net assets	1,885
Goodwill	$ 8,166

Equity method investments - carrying value (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 2,269	$ 3,497
Cencora
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 1,563	$ 2,534
Ownership percentage	10.20%	15.90%
Others
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 705	$ 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%

- 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

Segment reporting - results of operations of reportable segments (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	$ 147,658	$ 139,081	$ 132,703
Adjusted operating income:	2,624	3,871	5,133
Depreciation and amortization	2,459	2,257	1,990
Capital expenditures:	1,381	2,117	1,734
Impairment of goodwill, intangibles and long-lived assets	(13,422)	(299)	(783)
Acquisition-related amortization	(1,075)	(1,126)	(855)
Transformational cost management	(891)	(1,181)	(763)
Acquisition-related costs	(542)	(323)	(223)
Certain legal and regulatory accruals and settlements	(561)	(7,466)	(768)
Adjustments to equity earnings in Cencora	(162)	(211)	(218)
LIFO provision	(47)	(187)	(135)
Store damage and inventory loss insurance recovery	0	40	0
Operating (loss) income	(14,076)	(6,882)	1,387
Reportable Segments \| U.S. Retail Pharmacy
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	115,778	110,314	109,078
Adjusted operating income:	2,167	3,689	5,029
Depreciation and amortization	1,422	1,362	1,415
Capital expenditures:	(1,041)	1,421	(1,207)
Reportable Segments \| U.S. Retail Pharmacy \| Pharmacy
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	88,867	82,118	80,434
Reportable Segments \| U.S. Retail Pharmacy \| Retail
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	26,911	28,195	28,643
Reportable Segments \| International
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	23,552	22,198	21,830
Adjusted operating income:	793	935	726
Depreciation and amortization	370	328	355
Capital expenditures:	(247)	308	(295)
Reportable Segments \| International \| Pharmacy
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	3,598	3,664	3,727
Reportable Segments \| International \| Retail
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	7,887	7,324	6,924
Reportable Segments \| International \| Wholesale
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	12,067	11,211	11,178
Reportable Segments \| U.S. Healthcare
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	8,345	6,570	1,795
Adjusted operating income:	(134)	(566)	(370)
Depreciation and amortization	651	560	211
Capital expenditures:	91	375	218
Corporate and Other
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	(16)	0	0
Adjusted operating income:	(202)	(187)	(251)
Depreciation and amortization	16	8	9
Capital expenditures:	$ 2	$ 13	$ 15

Retirement benefits

12 Months Ended

Aug. 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 the payment of approximately $210 million. 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 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.

The following tables present classes of defined benefit pension plan assets by fair value hierarchy (in millions):


	August 31, 2024		Level 1		Level 2		Level 3



Annuities:
Annuity policies, less deferred premium 1	$	5,487	$	—	$	—	$	5,487

Debt securities:


Corporate bonds 2	10		—		10		—

Real estate:
Real estate 3	81		—		—		81

Other:
Other investments, net 4	416		7		409		—

Total	$	5,994	$	7	$	419	$	5,568


	August 31, 2023		Level 1		Level 2		Level 3
Equity securities:
Equity securities 5	$	264	$	—	$	264	$	—

Debt securities:
Fixed interest government bonds 6	1,044		848		196		—
Index linked government bonds 6	1,364		1,364		—		—
Corporate bonds 2	1,214		—		1,214		—

Real estate:
Real estate 3	466		—		—		466

Other:
Other investments, net 4	1,242		142		338		761

Total	$	5,594	$	2,354	$	2,012	$	1,228

1Includes a bulk annuity policy acquired as part of the Buy-In from Legal & General, net of $860 million of deferred premiums. The fair market value of the annuity assets have been calculated based on the price paid for the annuity contracts, updated to reflect changes in market conditions, views on insurer pricing and the most recently available membership data at the balance sheet date. The value of the deferred premiums are the amounts agreed under the Deferred Premium Agreements as part of the Buy-In.

2Includes bonds issued by corporations in both segregated and commingled funds and are valued using recently executed transactions, or quoted market prices for similar assets and liabilities in active markets, or for identical assets and liabilities in markets that are not active. If there have been no market transactions in a particular fixed income security, its fair value is calculated by pricing models that benchmark the security against other securities with actual market prices.

3Includes investments in certain property funds which are valued based on the underlying properties. These properties are valued using a number of standard industry techniques such as cost, discounted cash flows, independent appraisals and market based comparable data. Real estate investments are categorized as Level 3 investments.

4Includes net receivable (payable) amounts for unsettled transactions, cash and cash equivalents, derivatives, insurance linked securities and direct private placements. Cash is categorized as a Level 1 investment and cash in commingled funds is categorized as a Level 2 investment. Amounts receivable (payable) are categorized as level 2 investments. Cash equivalents are valued using observable yield curves, discounting and interest rates and are categorized as Level 2 investments. Derivatives which are exchange-traded and for which market quotations are readily available are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market, or exchange on which they are traded, and are categorized as Level 1 investments. Over-the-counter derivatives typically are valued by independent pricing services and are categorized as Level 2 investments. Insurance linked securities are categorized as Level 2. Direct private placements are typically bonds valued by reference to comparable bonds and are categorized as Level 3 investments.

5Includes investments in commingled funds, are valued based on quoted prices and are primarily exchange-traded. Securities for which official close or last trade pricing on an active exchange is available are classified as Level 1 investments. If closing prices are not available, or the investments are in a commingled fund, securities are valued at the last quoted bid price and typically are categorized as Level 2 investments.

6Includes government bonds comprising fixed interest and index linked bonds issued by central governments and are valued based on quotes received from independent pricing services or from dealers who make markets in such securities. Pricing services utilize pricing which considers readily available inputs such as the yield or price of bonds of comparable quality, coupon, maturity and type, as well as dealer-supplied prices.

The following table summarizes the changes of Level 3 assets, reconciled by asset class, held during fiscal 2024 (in millions):


	August 31, 2023		Net realized and unrealized gains/(losses)		Net purchases, issuances and settlements		August 31, 2024
Annuity policies, less deferred premium 1	$	48	$	355	$	5,084	$	5,487
Real estate 2	466		(52)		(334)		81
Other investments, net 3	713		(55)		(659)		—
Total 4	$	1,228	$	248	$	4,092	$	5,568

1.As part of the Buy-In with Legal & General, the Trustee exchanged substantially all of the Boots Plan assets that existed prior to the Buy-In for a bulk annuity policy, held as a Boots Plan asset as of August 31, 2024. Net purchases, issuances, and settlements primarily includes the $6.0 billion initial purchase price for the annuity policy, less $860 million remaining deferred premiums and $229 million of annuity payments received in fiscal 2024. Net gains primarily include unrealized gains on fair market value adjustment of the annuity, less interest accruals and other adjustments related to the the deferred premium.

2.Net purchases, issuances and settlements primarily include disposals of property funds or capital distributions related to disposals of property fund assets. Net losses are realized.

3.Net purchases, issuances and settlements include the disposal of various directly held investments. Net losses are realized.

4.There were no transfers in and out of Level 3 in fiscal 2024.

Components of net periodic pension income for the defined benefit pension plans and cumulative pre-tax amounts recognized in comprehensive loss are as follows (in millions):


	Boots and other pension plans
	2024		2023		2022
Service costs (Selling, general and administrative expenses)	$	4	$	4	$	5
Interest costs (Other income, net)	276		264		149
Expected returns on plan assets/other (Other income, net)	(284)		(340)		(280)
Total net periodic pension income	$	(4)	$	(72)	$	(126)

Net actuarial loss (gain)	$	262	$	730	$	(251)
Prior service cost	(273)		(1)		(1)
Total pre-tax comprehensive loss (income)	$	(11)	$	729	$	(252)

Change in benefit obligations for the defined benefit pension plans (in millions):


	2024		2023
Benefit obligation at beginning of year	$	5,515	$	5,967
Service costs	4		4
Interest costs	276		264
Amendments	(281)		—
Net actuarial loss (gain)	104		(897)
Benefits paid	(309)		(286)
Currency translation adjustments	125		463
Benefit obligation at end of year	$	5,433	$	5,515

Change in plan assets for the defined benefit pension plans (in millions):


	2024		2023
Plan assets at fair value at beginning of year	$	5,594	$	6,603
Employer contributions	435		40
Benefits paid	(309)		(286)
Return on assets	138		(1,275)
Currency translation adjustments	136		511
Plan assets at fair value at end of year	$	5,994	$	5,594

Amounts recognized in the Consolidated Balance Sheets (in millions):


	August 31, 2024		August 31, 2023
Other non-current assets	$	795	$	306
Accrued expenses and other liabilities	(11)		(10)
Other non-current liabilities	(223)		(216)
Net asset recognized at end of year	$	561	$	80

The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for all pension plans, including accumulated benefit obligations in excess of plan assets, were as follows (in millions):


	August 31, 2024		August 31, 2023
Projected benefit obligation	$	5,433	$	5,515
Accumulated benefit obligation	5,423		5,503
Fair value of plan assets 1	5,994		5,594

1 Represents plan assets of The Boots plan, the Company’s only funded defined benefit pension plan.

Estimated future benefit payments for the next 10 years from defined benefit pension plans to participants are as follows (in millions):


	Estimated future benefit payments
2025	$	312
2026	325
2027	334
2028	344
2029	356
2030-2034	1,855

The assumptions used in accounting for the defined benefit pension plans were as follows:


	2024		2023
Weighted-average assumptions used to determine benefit obligations
Discount rate	4.90	%	5.22	%
Rate of compensation increase	3.63	%	3.73	%

Weighted-average assumptions used to determine net periodic benefit cost1
Discount rate	5.40	%	4.20	%
Expected long-term return on plan assets	6.00	%	4.90	%
Rate of compensation increase	3.73	%	3.04	%

1.The assumptions shown are at the beginning of each fiscal year. As part of the BPA, the UK plan assumptions were remeasured on November 23, 2023.

In determining the rate of return on plan assets assumption, the Company considers the market pricing for buy-in policy annuities and the expected market return for residual assets. A change in any of these assumptions would have an effect on its net periodic pension income. A 25 basis point increase in the discount rate would result in a decline of $149 million to the Company’s pension benefit obligation. A 25 basis point decrease on the expected return on plan assets assumption would decrease the Company’s net periodic pension income by $15 million.

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 $223 million, $239 million and $234 million in fiscal 2024, 2023 and 2022, respectively. The Company’s contributions were $223 million, $241 million and $236 million in fiscal 2024, 2023 and 2022, 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 Statements of Earnings was $101 million, $83 million and $90 million in fiscal 2024, 2023 and 2022, respectively.

Post-retirement healthcare plan

The Company provides certain health insurance benefits to retired U.S. employees who meet eligibility requirements, including age, years of service and date of hire. The costs of these benefits are accrued over the service life of the employee.

The Company’s post-retirement health benefit plan obligation was $114 million and $113 million in fiscal 2024 and 2023, respectively and is not funded. The Company expects to make contributions of $7 million in fiscal 2025.

Goodwill and other intangible assets - schedule of finite-lived intangible assets, future amortization expense (Details) $ in Millions	Aug. 31, 2024 USD ($)
Estimated annual amortization expense
2025	$ 974
2026	930
2027	840
2028	756
2029	$ 688

Acquisitions and other Investments (Tables)

12 Months Ended

Aug. 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 that 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 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:
Total purchase price	$	5,200
Less: purchase price for issuance of new preferred units at fair value 1	(2,300)
Net consideration	2,900
Fair value of share-based compensation awards attributable to pre-combination services 2	683
Fair value of previously held equity and debt	3,211
Fair value of non-controlling interest	3,257
Total	$	10,051

Identifiable assets acquired and liabilities assumed:
Tangible assets 1	$	634
Intangible assets 3	1,621
Liabilities	(370)
Total identifiable net assets	$	1,885

Goodwill	$	8,166

2.Primarily related to vested share-based compensation awards.

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	$	969
Fair value of share-based compensation awards attributable to pre-combination services	13
Fair value of previously held equity interests	502
Fair value of non-controlling interests	589
Total	$	2,074

Identifiable assets acquired and liabilities assumed:
Tangible assets	$	84
Intangible assets 1	1,060
Liabilities	(600)
Total identifiable net assets	$	544

Goodwill	$	1,529

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	327
Contingent consideration	4
Fair value of share-based compensation awards attributable to pre-combination services	66
Fair value of non-controlling interests	217
Total	$	614

Identifiable assets acquired and liabilities assumed:
Tangible assets	$	358
Intangible assets 2	426
Liabilities	(680)
Total identifiable net assets	$	104

Goodwill	$	509

1.Excludes $12 million of cash paid to employees, which was recognized as compensation expense by the Company.

Schedule of pro forma information and actual sales


(Unaudited, in millions)	2023		2022
Sales	$	140,039	$	135,379

Actual sales of Summit, from the acquisition date, for the year ended August 31, 2023, included in the Consolidated Statements of Earnings are as follows (in millions):


	2023
Sales	$	1,896

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 acquisitions occurred at the beginning of the period presented or results which may occur in the future.


(Unaudited, in millions)	2022
Sales	$	134,314

Actual sales of the acquisitions for the year ended August 31, 2022 included in the Consolidated Statements of Earnings are as follows (in millions):


	2022
Sales	$	1,795

Retirement benefits - changes in benefit obligations (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year	$ 5,515	$ 5,967
Service costs	4	4	$ 5
Interest costs	276	264	149
Amendments	(281)	0
Net actuarial loss (gain)	104	(897)
Benefits paid	(309)	(286)
Currency translation adjustments	125	463
Benefit obligation at end of year	$ 5,433	$ 5,515	$ 5,967

Equity method investments - summarized financial information of equity method investees (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Financial Position [Abstract]
Current assets	$ 18,335	$ 15,503
Non-current assets	62,702	81,125
Current liabilities	26,953	24,535
Non-current liabilities	41,905	43,605
Shareholders' equity	12,005	28,322	$ 29,366	$ 23,822
Non-controlling interests	1,561	8,302
Income Statement [Abstract]
Sales	147,658	139,081	132,703
Gross profit	26,524	27,072	28,265
Net earnings	(15,448)	(3,528)	4,065
Share of earnings from equity method investments	230	286	468
Equity Method Investment
Statement of Financial Position [Abstract]
Current assets	54,470	48,185
Non-current assets	25,044	25,618
Current liabilities	58,231	52,093
Non-current liabilities	16,470	17,999
Shareholders' equity	4,813	3,711
Non-controlling interests	432	520
Income Statement [Abstract]
Sales	304,895	279,118	268,189
Gross profit	12,466	12,457	13,248
Net earnings	$ 1,922	$ 1,799	$ 1,988

Debt - long-term debt by future maturity (Details) $ in Millions	Aug. 31, 2024 USD ($)
Long Term Debt by Future Maturity [Abstract]
2025	$ 1,505
2026	2,838
2027	1,835
2028	1
2029	751
Later	2,651
Total estimated future maturities	$ 9,581

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Debt (Tables)

12 Months Ended

Aug. 31, 2024

Debt Disclosure [Abstract]

Schedule of 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):


	August 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	1,157		—
Other 2	58		68
Total short-term debt	$	1,505	$	917

Schedule of Long-term Debt Instruments


Long-term debt
Credit facilities 1

November 2021 DDTL due November 2024	$	—	$	289
December 2022 DDTL due January 2026	1,000		999
August 2023 DDTL due November 2026	1,000		—




$1.5 billion note issuance 1
3.200% unsecured notes due 2030	498		498
4.100% unsecured notes due 2050	635		793
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,445		1,444
4.650% unsecured notes due 2046	295		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	657		869
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025	391		381
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	833		814
$4 billion note issuance 3
4.400% unsecured notes due 2042	236		263
$750 million note issuance 1
8.125% unsecured notes due 2029	740		—
Other 2	13		20
Total long-term debt, less current portion	$	8,044	$	8,145

1.Notes, borrowings under credit facilities and commercial paper are unsecured 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.

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

3.Notes are senior debt obligations of Walgreen Co.

Schedule of future maturities of long-term debt

At August 31, 2024, the future maturities of short-term and long-term debt, excluding debt discounts, issuance costs and finance lease obligations (See Note 4. Leases, for further information on the future lease payments), consisted of the following (in millions):


	Amount
2025	$	1,505
2026	2,838
2027	1,835
2028	1
2029	751
Later	2,651
Total estimated future maturities	$	9,581

- 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

+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Aug. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Acquisitions and other Investments - schedule of purchase price allocation and identifiable assets acquired and liabilities assumed - Summit (Details) - USD ($) $ in Millions	Jan. 03, 2023	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Identifiable assets acquired and liabilities assumed:
Goodwill		$ 15,506	$ 28,187	$ 22,280
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 interest	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

Equity method investments

12 Months Ended

Aug. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

Equity method investments as of August 31, 2024 and 2023 were as follows (in millions, except percentages):


	2024			2023
	Carrying value		Ownership percentage	Carrying value		Ownership percentage
Cencora	$	1,563	10%	$	2,534	16%
Others	705		8% - 50%	963		8% - 50%
Total	$	2,269		$	3,497

Cencora investment

As of August 31, 2024 and 2023, the Company owned 20.0 million and 31.8 million shares of Cencora common stock, respectively, representing approximately 10.2% 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. The Company has the ability to exercise significant influence in Cencora through the Company’s board representation.

In fiscal 2024, 2023 and 2022, the Company sold shares of Cencora common stock for total consideration of approximately $2.7 billion, $3.4 billion and $900 million respectively. These transactions resulted in the Company recording pre-tax gains, inclusive of equity method basis difference adjustments, of $1.5 billion, $1.6 billion and $417 million, respectively, in Other income, net in the Consolidated Statements of Earnings, including $63 million, $160 million and $32 million of losses, respectively, reclassified from within Accumulated other comprehensive loss in the Consolidated Balance Sheets. As part of the Company’s sale of Cencora common stock during the third quarter of fiscal 2024, the Company recognized a cumulative equity method basis difference adjustment, of which an immaterial amount pertained to fiscal 2023.

As of August 31, 2024 and 2023, the Company has pledged 20.0 million and 17.3 million shares of Cencora common stock, respectively, as collateral upon entering into VPF derivative contracts. 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 in Cencora are reported as a separate line in the Consolidated Statements of Earnings.

The Level 1 fair market value of the Company’s equity investment in Cencora common stock at August 31, 2024 and 2023 was $4.8 billion and $5.6 billion, respectively. As of August 31, 2024, the carrying value of the Company’s investment in Cencora exceeded its proportionate share of the net assets of Cencora by $1.5 billion. This premium of $1.5 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 August 31, 2024, the Company’s other equity method investments primarily include its U.S. investment in BrightSpring Health Services (“BrightSpring”), and the Company’s investments in China in Sinopharm Medicine Holding Guoda Drugstores Co., Ltd (“Guoda”), and Nanjing Pharmaceutical Company Limited (“Nanjing”). As of August 31, 2024, the Company owned approximately 18% and 11% of common stock outstanding in its investments in BrightSpring and Nanjing, respectively. The Company has the ability to exercise significant influence over the investees through the Company’s board representation. As such, the Company accounts for its equity investments in BrightSpring and Nanjing using the equity method of accounting. On September 11, 2024, the Company sold shares of BrightSpring common stock for total consideration of approximately $129 million, reducing the Company’s ownership percentage to approximately 12%. The Company will continue to account for its remaining investment in BrightSpring under the equity method of accounting. In fiscal 2024 and 2022, the Company recognized other-than-temporary impairments of $364 million and $124 million, respectively, related to equity method investments in China. The impairments were derived using Level 3 inputs, including financial projections and market multiples of comparable companies. The Company did not recognize any significant equity method investment impairments in fiscal 2023.

In fiscal 2022, the Company acquired majority equity interests in VillageMD and Shields, both formerly accounted for as equity method investments. The Company accounted for these acquisitions as business combinations resulting in the remeasurement of its previously held minority equity interests and convertible debt securities at fair value resulting in pre-tax gains of $2.2 billion and $402 million for VillageMD and Shields, respectively, recognized in Other income, net in the Consolidated Statements of Earnings. As a result of these transactions, the Company consolidated VillageMD and Shields within the U.S. Healthcare segment in its financial statements. In addition, in fiscal 2022 the Company sold its ownership interest in Guangzhou Pharmaceutical Corporation (“GP Corp”) for total consideration of approximately $150 million.

Option Care Health investment

During fiscal 2022, the Company sold shares of Option Care Health common stock for total consideration of approximately $363 million. During fiscal 2023, the Company sold its remaining investment in Option Care Health for total consideration of approximately $798 million. These transactions resulted in the Company recording pre-tax gains of $186 million and $145 million, respectively, in Other income, net in the Consolidated Statements of Earnings. As of May 31, 2023, the Company no longer exercised significant influence over the operating and financial policies of Option Care Health and reclassified its investment from an equity method investment to an investment in equity securities at fair value, recognizing a pre-tax gain of $76 million included in Other income, net within the Consolidated Statements of Earnings.

Summarized financial information

Summarized financial information for the Company’s equity method investments in aggregate is as follows:

Balance sheet (in millions)


	August 31,
	2024		2023
Current assets	$	54,470	$	48,185
Non-current assets	25,044		25,618
Current liabilities	58,231		52,093
Non-current liabilities	16,470		17,999
Shareholders’ equity 1	4,813		3,711

1Shareholders’ equity at August 31, 2024 and 2023 includes $432 million and $520 million, respectively, related to non-controlling interests.

Statements of earnings (in millions)



	2024		2023		2022
Sales	$	304,895	$	279,118	$	268,189
Gross profit	12,466		12,457		13,248
Net earnings	1,922		1,799		1,988
Share of earnings from equity method investments	230		286		468

The summarized financial information for equity method investments has been included on an aggregated basis for all investments as reported at the end of each fiscal year end.

Segment reporting - geographic data (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 147,658	$ 139,081	$ 132,703
Total long-lived assets	30,108	33,254
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	124,176	116,883	110,873
Total long-lived assets	25,873	28,951
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	12,067	11,211	11,178
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	9,550	8,984	8,894
Total long-lived assets	3,538	3,622
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	1,864	2,003	$ 1,757
Total long-lived assets	$ 697	$ 681

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Related parties

12 Months Ended

Aug. 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):


	2024		2023		2022
Purchases, net	$	73,918	$	65,173	$	62,174

Trade accounts payable, net of receivables	$	9,259	$	7,814	$	6,915

- 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
-SubTopic 10
-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

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Cash flows from operating activities:
Net earnings (loss)	$ (15,448)	$ (3,528)	$ 4,065
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	2,459	2,257	1,990
Deferred income taxes	917	(2,371)	(366)
Stock compensation expense	182	385	391
Earnings from equity method investments	(230)	(286)	(468)
Impairment of goodwill, intangibles and long-lived assets	14,370	1,293	1,214
Gain on previously held investment interests	0	0	(2,576)
Gain on sale of equity method investments	(1,520)	(1,855)	(559)
Impairment of equity method investments and investments in equity and debt securities	364	36	233
Gain on sale-leaseback transactions	(295)	(925)	(619)
Loss (gain) on variable prepaid forward contracts	946	(19)	0
Other	(242)	(173)	99
Changes in operating assets and liabilities:
Accounts receivable, net	(464)	72	808
Inventories	(31)	287	(433)
Other current assets	82	(188)	(72)
Trade accounts payable	1,409	1,243	244
Accrued expenses and other liabilities	(536)	(561)	(138)
Income taxes	30	441	(51)
Accrued litigation obligations	(333)	6,378	0
Other non-current assets and liabilities	(643)	(228)	137
Net cash provided by operating activities	1,018	2,258	3,899
Cash flows from investing activities:
Additions to property, plant and equipment	(1,381)	(2,117)	(1,734)
Proceeds from sale-leaseback transactions	898	1,767	1,308
Proceeds from sale of other assets	2,860	4,495	1,334
Business, investment and asset acquisitions, net of cash acquired	(402)	(7,313)	(2,189)
Other	(97)	75	216
Net cash provided by (used for) investing activities	1,878	(3,094)	(1,064)
Cash flows from financing activities:
Net change in short-term debt with maturities of 3 months or less	(2)	(1)	(11)
Proceeds from debt	31,365	6,276	11,958
Payments of debt	(30,474)	(8,978)	(8,360)
Acquisition of non-controlling interests	0	(1,316)	(2,108)
Proceeds from issuance of non-controlling interests	0	2,725	0
Proceeds from variable prepaid forwards	424	2,568	0
Treasury stock purchases	(69)	(150)	(187)
Cash dividends paid	(1,260)	(1,659)	(1,659)
Early debt extinguishment	(318)	0	(1,591)
Other	(203)	(351)	459
Net cash used for financing activities	(538)	(887)	(1,499)
Effect of exchange rate changes on cash, cash equivalents, marketable securities and restricted cash	4	20	(47)
Changes in cash, cash equivalents, marketable securities and restricted cash
Net increase (decrease) in cash, cash equivalents, marketable securities and restricted cash	2,362	(1,702)	1,288
Cash, cash equivalents, marketable securities and restricted cash at beginning of period	856	2,558	1,270
Cash, cash equivalents, marketable securities and restricted cash at end of period	$ 3,218	$ 856	$ 2,558

Equity method investments - narrative (Details) - USD ($) $ in Millions			3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 11, 2024	Dec. 15, 2022	May 31, 2024	Feb. 28, 2022	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investment					$ 1,520	$ 1,855	$ 559
Equity earnings (loss)					230	286	468
Share of OCI of equity method investments
Schedule of Equity Method Investments [Line Items]
Other comprehensive income (loss) before reclassification adjustments					$ (6)	$ 6	(326)
Cencora
Schedule of Equity Method Investments [Line Items]
Investment owned (in shares)					20,000,000.0	31,800,000
Ownership percentage					10.20%	15.90%
Proceeds from sale of equity method investments					$ 2,700	$ 3,400	900
Gain on sale of equity method investment					1,500	1,600	417
Other comprehensive income (loss) before reclassification adjustments					$ (63)	(160)	32
Time period of reporting lag					2 months
Equity investment, exceeded its proportionate share of net assets					$ 1,500
Cencora \| Level 1
Schedule of Equity Method Investments [Line Items]
Fair value of assets					$ 4,800	5,600
Option Care Health
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments						798	363
Gain on sale of equity method investment			$ 76			$ 186	145
Guangzhou Pharmaceuticals
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments		$ 150
BrightSpring Health Services
Schedule of Equity Method Investments [Line Items]
Ownership percentage					18.00%
BrightSpring Health Services \| Subsequent event
Schedule of Equity Method Investments [Line Items]
Ownership percentage	12.00%
Proceeds from sale of equity method investments	$ 129
Nanjing Pharmaceutical Company
Schedule of Equity Method Investments [Line Items]
Ownership percentage					11.00%
Guoda
Schedule of Equity Method Investments [Line Items]
Impairment of equity method investments and investments in equity and debt securities				$ 124	$ 364
VillageMD
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investment							2,200
Shields Health Solutions
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investment							$ 402

Fair value measurements (Details) $ in Millions	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)
Liabilities [Abstract]
Carrying value of long-term notes outstanding	$ 9,581
Carrying Value
Liabilities [Abstract]
Carrying value of long-term notes outstanding	7,200
Estimate of Fair Value Measurement
Liabilities [Abstract]
Fair value of long-term notes outstanding	$ 6,400
Level 3 \| Measurement Input, Price Volatility \| Minimum \| Lower Strike Price
Liabilities [Abstract]
Derivative liability, measurement input	0.245	0.232
Level 3 \| Measurement Input, Price Volatility \| Minimum \| Upper Strike Price
Liabilities [Abstract]
Derivative liability, measurement input	0.196	0.181
Level 3 \| Measurement Input, Price Volatility \| Maximum \| Lower Strike Price
Liabilities [Abstract]
Derivative liability, measurement input	0.345	0.247
Level 3 \| Measurement Input, Price Volatility \| Maximum \| Upper Strike Price
Liabilities [Abstract]
Derivative liability, measurement input	0.227	0.191
Recurring
Assets [Abstract]
Money market funds	$ 1,790	$ 11
Investment in equity securities	19	17
Investments in debt securities	98	15
Recurring \| Level 1
Assets [Abstract]
Money market funds	1,790	11
Investment in equity securities	19	17
Investments in debt securities	0	0
Recurring \| Level 2
Assets [Abstract]
Money market funds	0	0
Investment in equity securities	0	0
Investments in debt securities	98	15
Recurring \| Level 3
Assets [Abstract]
Money market funds	0	0
Investment in equity securities	0	0
Investments in debt securities	0	0
Recurring \| Cross currency interest rate swaps
Assets [Abstract]
Derivative asset	6	28
Liabilities [Abstract]
Derivative liability	5	2
Recurring \| Cross currency interest rate swaps \| Level 1
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Cross currency interest rate swaps \| Level 2
Assets [Abstract]
Derivative asset	6	28
Liabilities [Abstract]
Derivative liability	5	2
Recurring \| Cross currency interest rate swaps \| Level 3
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Foreign currency forwards
Assets [Abstract]
Derivative asset	3	6
Liabilities [Abstract]
Derivative liability	67	5
Recurring \| Foreign currency forwards \| Level 1
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Foreign currency forwards \| Level 2
Assets [Abstract]
Derivative asset	3	6
Liabilities [Abstract]
Derivative liability	67	5
Recurring \| Foreign currency forwards \| Level 3
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Total return swaps
Assets [Abstract]
Derivative asset	11	1
Liabilities [Abstract]
Derivative liability		1
Recurring \| Total return swaps \| Level 1
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability		0
Recurring \| Total return swaps \| Level 2
Assets [Abstract]
Derivative asset	11	1
Liabilities [Abstract]
Derivative liability		1
Recurring \| Total return swaps \| Level 3
Assets [Abstract]
Derivative asset	0	0
Liabilities [Abstract]
Derivative liability		0
Recurring \| Variable prepaid forward
Liabilities [Abstract]
Derivative liability	3,919	2,548
Recurring \| Variable prepaid forward \| Level 1
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Variable prepaid forward \| Level 2
Liabilities [Abstract]
Derivative liability	0	0
Recurring \| Variable prepaid forward \| Level 3
Liabilities [Abstract]
Derivative liability	$ 3,919	$ 2,548

Equity method investments (Tables)

12 Months Ended

Aug. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity method investment

Equity method investments as of August 31, 2024 and 2023 were as follows (in millions, except percentages):


	2024			2023
	Carrying value		Ownership percentage	Carrying value		Ownership percentage
Cencora	$	1,563	10%	$	2,534	16%
Others	705		8% - 50%	963		8% - 50%
Total	$	2,269		$	3,497

Summarized financial information of equity method investees

Summarized financial information for the Company’s equity method investments in aggregate is as follows:

Balance sheet (in millions)


	August 31,
	2024		2023
Current assets	$	54,470	$	48,185
Non-current assets	25,044		25,618
Current liabilities	58,231		52,093
Non-current liabilities	16,470		17,999
Shareholders’ equity 1	4,813		3,711

1Shareholders’ equity at August 31, 2024 and 2023 includes $432 million and $520 million, respectively, related to non-controlling interests.

Statements of earnings (in millions)



	2024		2023		2022
Sales	$	304,895	$	279,118	$	268,189
Gross profit	12,466		12,457		13,248
Net earnings	1,922		1,799		1,988
Share of earnings from equity method investments	230		286		468

The summarized financial information for equity method investments has been included on an aggregated basis for all investments as reported at the end of each fiscal year end.

Retirement benefits (Tables)

12 Months Ended

Aug. 31, 2024

Retirement Benefits [Abstract]

Schedule of defined benefit plans using fair value hierarchy

The following tables present classes of defined benefit pension plan assets by fair value hierarchy (in millions):


	August 31, 2024		Level 1		Level 2		Level 3



Annuities:
Annuity policies, less deferred premium 1	$	5,487	$	—	$	—	$	5,487

Debt securities:


Corporate bonds 2	10		—		10		—

Real estate:
Real estate 3	81		—		—		81

Other:
Other investments, net 4	416		7		409		—

Total	$	5,994	$	7	$	419	$	5,568


	August 31, 2023		Level 1		Level 2		Level 3
Equity securities:
Equity securities 5	$	264	$	—	$	264	$	—

Debt securities:
Fixed interest government bonds 6	1,044		848		196		—
Index linked government bonds 6	1,364		1,364		—		—
Corporate bonds 2	1,214		—		1,214		—

Real estate:
Real estate 3	466		—		—		466

Other:
Other investments, net 4	1,242		142		338		761

Total	$	5,594	$	2,354	$	2,012	$	1,228

The following table summarizes the changes of Level 3 assets, reconciled by asset class, held during fiscal 2024 (in millions):


	August 31, 2023		Net realized and unrealized gains/(losses)		Net purchases, issuances and settlements		August 31, 2024
Annuity policies, less deferred premium 1	$	48	$	355	$	5,084	$	5,487
Real estate 2	466		(52)		(334)		81
Other investments, net 3	713		(55)		(659)		—
Total 4	$	1,228	$	248	$	4,092	$	5,568

2.Net purchases, issuances and settlements primarily include disposals of property funds or capital distributions related to disposals of property fund assets. Net losses are realized.

3.Net purchases, issuances and settlements include the disposal of various directly held investments. Net losses are realized.

4.There were no transfers in and out of Level 3 in fiscal 2024.

Components of net periodic benefit costs

Components of net periodic pension income for the defined benefit pension plans and cumulative pre-tax amounts recognized in comprehensive loss are as follows (in millions):


	Boots and other pension plans
	2024		2023		2022
Service costs (Selling, general and administrative expenses)	$	4	$	4	$	5
Interest costs (Other income, net)	276		264		149
Expected returns on plan assets/other (Other income, net)	(284)		(340)		(280)
Total net periodic pension income	$	(4)	$	(72)	$	(126)

Net actuarial loss (gain)	$	262	$	730	$	(251)
Prior service cost	(273)		(1)		(1)
Total pre-tax comprehensive loss (income)	$	(11)	$	729	$	(252)

Accumulated and projected benefit obligations

Change in benefit obligations for the defined benefit pension plans (in millions):


	2024		2023
Benefit obligation at beginning of year	$	5,515	$	5,967
Service costs	4		4
Interest costs	276		264
Amendments	(281)		—
Net actuarial loss (gain)	104		(897)
Benefits paid	(309)		(286)
Currency translation adjustments	125		463
Benefit obligation at end of year	$	5,433	$	5,515

Changes in fair value of plan assets

Change in plan assets for the defined benefit pension plans (in millions):


	2024		2023
Plan assets at fair value at beginning of year	$	5,594	$	6,603
Employer contributions	435		40
Benefits paid	(309)		(286)
Return on assets	138		(1,275)
Currency translation adjustments	136		511
Plan assets at fair value at end of year	$	5,994	$	5,594

Amounts recognized in balance sheet

Amounts recognized in the Consolidated Balance Sheets (in millions):


	August 31, 2024		August 31, 2023
Other non-current assets	$	795	$	306
Accrued expenses and other liabilities	(11)		(10)
Other non-current liabilities	(223)		(216)
Net asset recognized at end of year	$	561	$	80

Schedule of projected benefit obligation

The following tables present classes of defined benefit pension plan assets by fair value hierarchy (in millions):


	August 31, 2024		Level 1		Level 2		Level 3



Annuities:
Annuity policies, less deferred premium 1	$	5,487	$	—	$	—	$	5,487

Debt securities:


Corporate bonds 2	10		—		10		—

Real estate:
Real estate 3	81		—		—		81

Other:
Other investments, net 4	416		7		409		—

Total	$	5,994	$	7	$	419	$	5,568


	August 31, 2023		Level 1		Level 2		Level 3
Equity securities:
Equity securities 5	$	264	$	—	$	264	$	—

Debt securities:
Fixed interest government bonds 6	1,044		848		196		—
Index linked government bonds 6	1,364		1,364		—		—
Corporate bonds 2	1,214		—		1,214		—

Real estate:
Real estate 3	466		—		—		466

Other:
Other investments, net 4	1,242		142		338		761

Total	$	5,594	$	2,354	$	2,012	$	1,228

The following table summarizes the changes of Level 3 assets, reconciled by asset class, held during fiscal 2024 (in millions):


	August 31, 2023		Net realized and unrealized gains/(losses)		Net purchases, issuances and settlements		August 31, 2024
Annuity policies, less deferred premium 1	$	48	$	355	$	5,084	$	5,487
Real estate 2	466		(52)		(334)		81
Other investments, net 3	713		(55)		(659)		—
Total 4	$	1,228	$	248	$	4,092	$	5,568

2.Net purchases, issuances and settlements primarily include disposals of property funds or capital distributions related to disposals of property fund assets. Net losses are realized.

3.Net purchases, issuances and settlements include the disposal of various directly held investments. Net losses are realized.

4.There were no transfers in and out of Level 3 in fiscal 2024.

Schedule of projected and accumulated benefit obligation and fair value of plan assets


	August 31, 2024		August 31, 2023
Projected benefit obligation	$	5,433	$	5,515
Accumulated benefit obligation	5,423		5,503
Fair value of plan assets 1	5,994		5,594

1 Represents plan assets of The Boots plan, the Company’s only funded defined benefit pension plan.

Estimated future benefit payments

Estimated future benefit payments for the next 10 years from defined benefit pension plans to participants are as follows (in millions):


	Estimated future benefit payments
2025	$	312
2026	325
2027	334
2028	344
2029	356
2030-2034	1,855

Schedule of assumptions used

The assumptions used in accounting for the defined benefit pension plans were as follows:


	2024		2023
Weighted-average assumptions used to determine benefit obligations
Discount rate	4.90	%	5.22	%
Rate of compensation increase	3.63	%	3.73	%

Weighted-average assumptions used to determine net periodic benefit cost1
Discount rate	5.40	%	4.20	%
Expected long-term return on plan assets	6.00	%	4.90	%
Rate of compensation increase	3.73	%	3.04	%

1.The assumptions shown are at the beginning of each fiscal year. As part of the BPA, the UK plan assumptions were remeasured on November 23, 2023.

Financial instruments - derivative instruments (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Cross currency interest rate swaps \| Derivatives designated as hedges: \| Other current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 50
Fair value, assets	$ 1
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets
Cross currency interest rate swaps \| Derivatives designated as hedges: \| Other non-current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 253	$ 650
Fair value, assets	$ 5	$ 28
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Cross currency interest rate swaps \| Derivatives designated as hedges: \| Other current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 356	$ 102
Fair value, liabilities	$ 5	$ 2
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Foreign currency forwards \| Derivatives designated as hedges: \| Other current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 7	$ 31
Fair value, assets	$ 0	$ 1
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Foreign currency forwards \| Derivatives designated as hedges: \| Other non-current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 4
Fair value, assets	$ 0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets
Foreign currency forwards \| Derivatives designated as hedges: \| Other current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 923	$ 805
Fair value, liabilities	$ 15	$ 2
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Foreign currency forwards \| Derivatives designated as hedges: \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 2	$ 4
Fair value, liabilities	$ 0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Foreign currency forwards \| Derivatives not designated as hedges: \| Other current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 534	$ 3,139
Fair value, assets	$ 3	$ 6
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Foreign currency forwards \| Derivatives not designated as hedges: \| Other current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 3,606	$ 817
Fair value, liabilities	$ 52	$ 2
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Total return swaps \| Derivatives not designated as hedges: \| Other current assets
Derivatives, Fair Value [Line Items]
Notional amount, assets	$ 211
Fair value, assets	$ 11
Notional amount, liabilities		$ 168
Fair value, liabilities		$ 1
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Total return swaps \| Derivatives not designated as hedges: \| Other current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities		$ 26
Fair value, liabilities		$ 1
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Accrued expenses and other liabilities
Variable prepaid forward \| Derivatives not designated as hedges: \| Other current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 1,185
Fair value, liabilities	$ 1,332
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities
Variable prepaid forward \| Derivatives not designated as hedges: \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liabilities	$ 2,541	$ 3,195
Fair value, liabilities	$ 2,587	$ 2,548
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities

Retirement benefits - balance sheet (Details) - Pension Plan - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	$ 795	$ 306
Accrued expenses and other liabilities	(11)	(10)
Other non-current liabilities	(223)	(216)
Net asset recognized at end of year	$ 561	$ 80

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Accumulated other comprehensive loss (Tables)

12 Months Ended

Aug. 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 loss (“AOCI”) by component and net of tax for fiscal 2024, 2023 and 2022 (in millions):


	Pension/post-retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges (loss) gain		Unrealized gain (loss) on available for sale debt securities		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2021	$	(359)	$	(10)	$	(35)	$	96	$	(29)	$	(1,772)	$	(2,109)
Other comprehensive income (loss) before reclassification adjustments	278		6		327		451		(326)		(833)		(97)
Amounts reclassified from AOCI	(22)		3		—		(577)		31		—		(565)

Other	(6)		—		—		—		—		—		(6)
Tax (provision) benefit	(48)		(2)		(79)		32		70		—		(27)
Net change in other comprehensive income (loss)	203		7		248		(95)		(226)		(833)		(696)
Balance at August 31, 2022	$	(157)	$	(3)	$	213	$	1	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	(705)		(7)		(172)		(2)		6		379		(500)
Amounts reclassified from AOCI	(26)		4		—		—		158		(14)		121

Tax benefit (provision)	190		—		42		1		(42)		—		190
Net change in other comprehensive (loss) income	(541)		(2)		(130)		(2)		122		364		(189)
Balance at August 31, 2023	$	(698)	$	(5)	$	83	$	—	$	(132)	$	(2,240)	$	(2,993)
Other comprehensive income (loss) before reclassification adjustments	14		—		(65)		—		(6)		124		68
Amounts reclassified from AOCI	(14)		8		(4)		—		63		(2)		51
Tax (provision) benefit	(8)		(3)		1		1		(13)		—		(23)
Net change in other comprehensive (loss) income	(8)		5		(68)		1		45		122		96
Balance at August 31, 2024	$	(706)	$	(1)	$	15	$	—	$	(88)	$	(2,118)	$	(2,897)

Goodwill and other intangible assets - narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2024 USD ($)	Feb. 29, 2024 USD ($) clinic	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Jun. 01, 2024
Goodwill [Line Items]
Impairment of goodwill			$ 12,701	$ 0	$ 0
Goodwill	$ 15,506		15,506	$ 28,187	22,280
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]				Selling, general and administrative expenses
Indefinite lived intangible assets	5,607		5,607	$ 5,477
Impairment of definite-lived intangible assets				0	0
Amortization expense for intangible assets			963	815	639
U.S. Healthcare
Goodwill [Line Items]
Impairment of goodwill, intangibles and long-lived assets		$ 266
International
Goodwill [Line Items]
Impairment of goodwill					1,700
Transformational cost management program
Goodwill [Line Items]
Number of clinics closed \| clinic		90
Minimum
Goodwill [Line Items]
Percentage of reporting unit fair value in excess of carrying amount						18.00%
Maximum
Goodwill [Line Items]
Percentage of reporting unit fair value in excess of carrying amount						124.00%
Pharmacy licenses
Goodwill [Line Items]
Indefinite lived intangible assets	848		848	828
VillageMD
Goodwill [Line Items]
Impairment of goodwill		$ 12,400
Goodwill	1,500		1,500
CareCentrix, Inc.
Goodwill [Line Items]
Impairment of goodwill	332
Goodwill	178		178
Boots Reporting Unit
Goodwill [Line Items]
Impairment of intangible assets				431	$ 783
Indefinite lived intangible assets	$ 5,600		$ 5,600	$ 5,500
Boots Reporting Unit \| Minimum
Goodwill [Line Items]
Percentage of reporting unit fair value in excess of carrying amount	6.00%		6.00%
Boots Reporting Unit \| Maximum
Goodwill [Line Items]
Percentage of reporting unit fair value in excess of carrying amount	73.00%		73.00%

Financial instruments - warrants (Details) - Derivatives not designated as hedges: - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Foreign currency forwards \| Other income (expense)
Warrants [Abstract]
Gains (losses) due to changes in fair value of derivative instruments	$ (39)	$ (273)	$ 523
Total return swaps \| Selling, general and administrative expense
Warrants [Abstract]
Gains (losses) due to changes in fair value of derivative instruments	29	12	(33)
Variable prepaid forward \| Other income (expense)
Warrants [Abstract]
Gains (losses) due to changes in fair value of derivative instruments	$ (946)	$ 19	$ 0

Income taxes - components of earnings before income tax provision (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
U.S.	$ (15,599)	$ (7,553)	$ 2,998
Non–U.S.	1,380	2,134	987
(Loss) earnings before income tax provision (benefit)	$ (14,219)	$ (5,419)	$ 3,985

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Aug. 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, the Company accrues 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, as applicable, 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 alleged that the Company and certain of its officers made false or misleading statements regarding the transactions. 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 in which Defendants admitted no liability. The settlement of approximately $193 million was approved by the court on October 23, 2023, has been fully paid and the lawsuit has been dismissed with prejudice. 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 and 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 to resolve this matter subject to court approvals. Claims Relating to Opioid Abuse On December 9, 2022, the Company entered into a Multistate Settlement Agreement (the “Multistate Agreement”) which 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 Multistate Agreement, 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 Multistate Agreement provided for the payment of up to approximately $754 million in attorneys’ fees and costs over six years beginning in year two of the Multistate Agreement. The Multistate Agreement, which became effective on August 7, 2023, included no admission of wrongdoing or liability by the Company. In the first quarter of fiscal 2023, the Company recorded a $6.5 billion liability associated with the Multistate Agreement and other opioid-related claims and litigation settlements which was reflected in the Consolidated Statements of Earnings within Selling, general and administrative expenses as part of the U.S. Retail Pharmacy segment. The Company has now resolved its litigation with all states, territories, tribes and 99.7% of litigating subdivisions within Settling States 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 Company will continue to vigorously defend against any litigation not covered by the Multistate 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 August 31, 2024, the Company has accrued a total of $6.6 billion liability associated with the Multistate Agreement and other opioid-related claims and litigation settlements, including $623 million and $6.0 billion of the estimated settlement liability in Accrued expenses and other liabilities, and Accrued litigation obligations, respectively, in the Consolidated 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. A trial date has been set in the following case pending in state court: •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 plaintiffs in these matters includes compensatory, abatement, restitution and punitive damages, as well as injunctive relief. Additionally, the Company has received from the DOJ and the Attorneys General of numerous states subpoenas, civil investigative demands, and other requests concerning opioid-related matters. The Company and the DOJ are in active negotiations for potential settlement of 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. There are no assurances that a settlement acceptable to both parties will be reached. 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. After an initial dismissal, 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). The court granted final approval of a settlement on June 18, 2024 which 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 alleging 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 $339 million for all usual and customary pricing litigation in Accrued expenses and other liabilities within the Consolidated 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 was stayed pending the outcome of settlement discussions. The parties reached an agreement to settle this matter, subject to court approvals. 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. The matter was dismissed with prejudice on February 20, 2024, and on May 7, 2024, the 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 services previously performed by Everly/PWN related to 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, 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 in Accrued expenses and other liabilities within the Consolidated Balance Sheets. Securities Claims Relating Decrease in to Share Price On July 12, 2024, a purported shareholder filed a putative class action lawsuit in the United States District Court for the Northern District of Illinois (Bhaila v. Walgreens Boots Alliance, Inc., 24-cv-05907) against the Company and certain of its executives (together, “Defendants”) alleging that Defendants violated securities laws by disseminating materially false and misleading statements and/or concealing material adverse facts concerning the Company’s pharmacy division. In addition, on September 17, 2024, a purported shareholder filed a putative class action lawsuit in the United States District Court for the Northern District of Illinois (Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Walgreens Boots Alliance, Inc., 24-cv-08559) alleging that the Company and certain current and former executives violated securities laws by disseminating materially false and misleading statements and/or concealing material adverse facts relating to the Company’s U.S. Healthcare segment. The complaints seek monetary damages for alleged losses caused by decreases in the Company’s share price following disclosure of the Company’s performance and business outlook. Defendants expect the cases to be consolidated. Defendants intend to vigorously defend against the lawsuits. Shareholder Derivative Action Relating to Decrease in Share Price Three purported shareholders have filed derivative suits in the United States District Court for the Northern District of Illinois (Tobias v. Wentworth et al., 24-cv-07755 (Aug. 27, 2024); Hollin v. Wentworth et al., 24-cv-08244 (Sept. 10, 2024); Lovoi v. Wentworth et al., 24-cv-09110 (Sept. 27, 2024)) against the Company’s directors and certain of the Company’s officers, and against the Company as a nominal defendant (together, “Defendants”), alleging that the individual Defendants breached their fiduciary duties to the Company by willfully or recklessly making and/or causing the Company to make false and misleading statements related to the Company’s internal controls and overall expected performance, thereby artificially inflating the Company’s stock price. The complaints seek damages based on alleged overstatements of the Company’s expected revenue for fiscal 2024, as well as equitable relief including the institution of certain corporate governance measures. The plaintiffs’ allegations in these derivative suits generally concern the same issues and time period (October 12, 2023 to June 26, 2024) as alleged in the Bhaila putative class action.

Financial instruments (Tables)

12 Months Ended

Aug. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amounts of derivative instruments outstanding

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


August 31, 2024	Notional		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	50	$	1	Other current assets
Foreign currency forwards	7		—		Other current assets
Cross currency interest rate swaps	253		5		Other non-current assets
Foreign currency forwards	4		—		Other non-current assets
Foreign currency forwards	923		15		Accrued expenses and other liabilities
Cross currency interest rate swaps	356		5		Accrued expenses and other liabilities
Foreign currency forwards	2		—		Other non-current liabilities


Derivatives not designated as hedges:
Foreign currency forwards	$	534	$	3	Other current assets
Total return swap	211		11		Other current assets
Foreign currency forwards	3,606		52		Accrued expenses and other liabilities

Variable prepaid forward contracts	1,185		1,332		Accrued expenses and other liabilities
Variable prepaid forward contracts	2,541		2,587		Other non-current liabilities


August 31, 2023	Notional		Fair value		Location in Consolidated 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		Accrued expenses and other liabilities
Cross currency interest rate swaps	102		2		Accrued expenses and other 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 swap	168		1		Other current assets
Foreign currency forwards	817		2		Accrued expenses and other liabilities
Total return swap	26		1		Accrued expenses and other liabilities

Variable prepaid forward contracts	3,195		2,548		Other non-current liabilities

Schedule of variable prepaid forward transactions

The terms of the VPF derivative contracts 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 Statements of Earnings as follows (in millions):


	Location in Consolidated Statements of Earnings	2024	2023	2022
Total return swaps	Selling, general and administrative expenses	29	12	(33)
Foreign currency forwards	Other income, net 1	(39)	(273)	523
Variable prepaid forward	Other income, net	(946)	19	—

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

Income taxes

12 Months Ended

Aug. 31, 2024

Income Tax Disclosure [Abstract]

Income taxes

The components of (Loss) earnings before income tax provision (benefit) were (in millions):


	2024		2023		2022
U.S.	$	(15,599)	$	(7,553)	$	2,998
Non–U.S.	1,380		2,134		987
Total	$	(14,219)	$	(5,419)	$	3,985

The Income tax provision (benefit) consists of the following (in millions):


	2024		2023		2022
Current provision
Federal	$	91	$	242	$	39
State	52		(13)		37
Non–U.S.	185		283		260
	$	328	$	512	$	336
Deferred provision

Federal	$	910	$	(1,886)	$	(78)
State	259		(364)		(20)

Non–U.S.	(251)		(120)		(268)
	918		(2,370)		(366)
Income tax provision (benefit)	$	1,246	$	(1,858)	$	(30)

The Company’s effective tax rate for fiscal 2024 was an expense of 8.8% due to the impact of a non-cash expense to record a valuation allowance on certain U.S. federal and state deferred tax assets primarily related to opioid liabilities recognized in prior periods, VillageMD earnings not taxable to the Company, and goodwill impairment, which is primarily not deductible for tax purposes.

The Company’s effective tax rate for fiscal 2023 was a benefit of 34.3%. due to a reduction in the valuation allowance held against capital loss carryforwards, changes to deferred taxes as a result of internal legal entity restructuring, and tax benefits related to a measurement change in prior year tax positions. These benefits were partially offset by the impact of certain nondeductible charges for opioid related claims and litigation settlements recorded during fiscal 2023.

The difference between the statutory federal income tax rate and the effective tax rate is as follows:


	2024		2023		2022
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	(1.8)		5.8		0.4
Foreign income taxed at non-U.S. rates	(0.3)		(3.0)		(3.0)
Non-taxable income	0.3		2.5		(2.7)
Non-deductible expenses	(0.9)		(4.9)		3.0

Change in valuation allowance 1	(13.2)		6.0		(9.0)
Tax benefits from restructuring	—		1.1		—

Uncertain tax positions	(0.4)		(0.5)		1.3
Non-controlling interest	(10.1)		(2.9)		1.2
Goodwill impairment	(7.2)		—		—
Tax credits	0.5		2.8		(1.0)
Conversion of equity investment	—		—		(11.8)
Change in tax basis in foreign assets2	2.2		—		—
Change in outside basis difference	1.4		1.9		—
Change in measurement of prior year tax positions	—		3.5		—
Other	(0.3)		1.0		(0.2)
Effective income tax rate 3	(8.8)	%	34.3	%	(0.8)	%

1Net of changes in related tax attributes and tax benefits from capital losses generated and utilized.

2Represents the initial recognition of tax basis in intangible assets in foreign jurisdiction and the related valuation allowance.

3Effective tax rate for fiscal 2024 represents a tax expense on a pre-tax loss.

The deferred tax assets and liabilities included in the Consolidated Balance Sheets consist of the following (in millions):


	August 31, 2024		August 31, 2023
Deferred tax assets:

Compensation and benefits	$	100	$	98

Insurance	125		131
Accrued rent & lease obligations	4,969		5,265

Legal liability	1,477		1,551
Allowance for doubtful accounts	36		23
Tax attributes	7,894		7,784
Stock compensation	62		74
Derivatives	225		—
Deferred income	5		8
Equity method investment	29		76
Intangible assets	499		—
Post retirement benefit	91		—
Other	86		143
Total deferred tax assets	$	15,598	$	15,153
Less: valuation allowance	9,642		7,360
Total deferred tax assets, net	$	5,956	$	7,793

Deferred tax liabilities:
Accelerated depreciation	$	341	$	254
Inventory	371		403
Intangible assets	1,008		1,024

Lease right-of-use asset	4,392		4,690
Outside basis difference	340		1,045
Post retirement benefit	196		—
Other	82		180
Total deferred tax liabilities	$	6,730	$	7,596

Net deferred tax (liabilities) assets	$	(774)	$	197

As of August 31, 2024, the Company has recorded deferred tax assets for tax attributes of $7.9 billion, primarily reflecting the benefit of $2.5 billion in U.S. federal, $1.2 billion in state and $28.1 billion in non-U.S. ordinary and capital losses. In addition, these deferred tax assets include $189 million of income tax credits. Of these deferred tax assets, $6.9 billion will expire at various dates from 2025 through 2041. The residual deferred tax assets of $1.0 billion have no expiration date.

The Company believes it is more likely than not that the benefit from certain deferred tax assets will not be realized. The assessment of realization of deferred tax assets is performed based on the weight of the positive and negative evidence available to indicate whether the asset is recoverable, including tax planning strategies that are prudent and feasible. In recognition of this risk, the Company has recorded a valuation allowance of $9.6 billion against those deferred tax assets as of August 31, 2024.

As a result of cumulative losses in the U.S., the Company increased its valuation allowance by $2.3 billion, of which $2.2 billion pertained to certain U.S. and state deferred tax assets, primarily related to opioid settlements reached in fiscal 2023 (see Note 10. Commitments and contingencies for further information). The amount of the deferred tax asset considered realizable, however, could be adjusted if verifiable evidence of future taxable income, such as recognition of gains from the monetization of non-strategic assets, success of strategic initiatives, or the identification of tax planning strategies, becomes available, or if operational results improve, offering positive evidence of taxable income that outweighs historical negative evidence of cumulative losses.

Income taxes paid, net of refunds were $297 million, $64 million and $387 million for fiscal 2024, 2023 and 2022, respectively.

ASC Topic 740, Income Taxes, provides guidance regarding the recognition, measurement, presentation and disclosure in the financial statement of tax positions taken or expected to be taken on a tax return, including the decision whether to file in a particular jurisdiction. As of August 31, 2024 and 2023, unrecognized tax benefits of $725 million and $703 million were reported within Other non-current liabilities, respectively; $394 million and $413 million were reported against deferred taxes, respectively; and $75 million and $116 million were reported against related tax receivables in Other non-current assets, respectively, on the Consolidated Balance Sheets. These amounts include interest and penalties, when applicable.

The following table provides a reconciliation of the total amounts of unrecognized tax benefits (in millions):


	2024		2023		2022
Balance at beginning of year	$	1,106	$	1,110	$	1,098
Gross increases related to tax positions in a prior period	91		12		63
Gross decreases related to tax positions in a prior period	(443)		(19)		(51)
Gross increases related to tax positions in the current period	273		12		21
Settlements with taxing authorities	(12)		(7)		(19)

Lapse of statute of limitations	(3)		(2)		(2)
Balance at end of year	$	1,012	$	1,106	$	1,110

At August 31, 2024, 2023 and 2022, $618 million, $588 million and $529 million, respectively, of unrecognized tax benefits would favorably impact the effective tax rate if recognized. During the next twelve months, based on current knowledge, it is reasonably possible the amount of unrecognized tax benefits could decrease by up to $45 million due to anticipated federal and state tax audit settlements and the expirations of statutes of limitations associated with tax positions related to multiple state tax jurisdictions.

The Company recognizes interest and penalties in the income tax provision in its Consolidated Statements of Earnings. At August 31, 2024 and 2023, the Company had accrued interest and penalties of $182 million and $125 million, respectively. For the years ended August 31, 2024, 2023 and 2022, the amounts reported in income tax expense related to interest and penalties were $57 million, $29 million and $13 million, respectively.

The Company files a consolidated U.S. federal income tax return as well as income tax returns in various states and multiple foreign jurisdictions. It is generally no longer under audit examinations for U.S. federal income tax purposes for any years prior to fiscal 2014. With few exceptions, it is no longer subject to state and local income tax examinations by tax authorities for years before fiscal 2010. In foreign tax jurisdictions, the Company is generally no longer subject to examination by the tax authorities in the UK prior to 2015, Luxembourg prior to 2019 and in Germany prior to 2017.

During the fiscal 2024, the Internal Revenue Service (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, 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 and immediate exercise of the call option, the Company was required to compare the fair value of the amended option with the book value of the original option. The fair value of the amended option was estimated to be zero. 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 option was transferred to a foreign subsidiary during the fiscal year ended August 31, 2015. As the transferred option was worthless, no income was recognized for U.S. tax purposes. The IRS disagrees with the Company’s conclusion regarding the value of the option 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.

The Company has received tax holidays from Swiss cantonal income taxes relative to certain of its Swiss operations. The income tax holidays expired in September 2022. A reduced tax rate was effective through August 2024. The holidays had a beneficial impact of $9 million and $104 million (inclusive of capital GILTI tax cost) during fiscal 2023 and 2022, respectively. This benefit is primarily included as part of the foreign income taxed at non-U.S. rates line in the effective tax rate reconciliation table above.

At August 31, 2024, it is not practicable for the Company to determine the amount of the unrecognized deferred tax liability it has with respect to temporary differences related to investments in foreign subsidiaries and foreign corporate joint ventures that are essentially permanent in duration.

U.S. tax law changes

On August 16, 2022, the United States government enacted the IRA. The IRA establishes a new corporate alternative minimum tax based on financial statement income adjusted for certain items. The new minimum tax is effective for fiscal 2024. The enactment of the IRA did not have a material impact to the Company’s financial statements.

During 2019, the U.S. Treasury Department issued regulations to apply retroactively covering certain components of the Tax Cuts and Jobs Act of 2017. Certain guidance included in these regulations is inconsistent with the Company’s interpretation that led to the recognition of $247 million of tax benefits in prior periods. The tax benefits relate to the Company’s one-time transition tax on certain un-repatriated earnings of foreign subsidiaries, which was enacted as part of the 2017 U.S. tax law changes. Despite this guidance, the Company remains confident in its interpretation of the U.S. tax law changes and intends to defend this position through litigation, if necessary. However, if the Company is ultimately unsuccessful in defending its position, it may be required to reverse all or a portion of the benefits previously recorded.

Non - U.S. tax law changes

The Organization for Economic Co-operation and Development (“OECD”) has announced an Inclusive Framework on Base Erosion and Profit Shifting including Pillar Two Model Rules (“Pillar Two”) for a new 15% global minimum tax applicable to large multinational corporations. Certain jurisdictions in which the group operates, including the United Kingdom and Ireland, have enacted Pillar Two legislation that will be effective from fiscal 2025. The OECD and its member countries continue to release new guidance and legislation on Pillar Two and we continue to evaluate the impact on our financial position of the global implementation of these rules. Based on enacted laws, Pillar Two is not expected to materially impact our effective tax rate or cash flows in the next fiscal year. New legislation or guidance could change our current assessment.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Goodwill and other intangible assets

12 Months Ended

Aug. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

In the second quarter of fiscal 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 Statements of Earnings. The impairment charges reflect 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 August 31, 2024, the Company believes the carrying value of the VillageMD reporting unit approximates its fair value. As of August 31, 2024, the carrying value of goodwill within the VillageMD reporting unit was $1.5 billion.

In the fourth quarter of fiscal 2024, the Company completed its annual quantitative impairment analysis for goodwill and recognized an impairment charge of $332 million related to its CareCentrix reporting unit within the U.S. Healthcare segment due to downward revisions to its longer term forecasts received during the fourth quarter. As of August 31, 2024, the Company believes the carrying value of the CareCentrix reporting unit approximates its fair value. As of August 31, 2024, the carrying value of goodwill within the CareCentrix reporting unit was $178 million.

Based on the analysis completed as of the June 1, 2024 valuation date, the fair values of the Company’s other reporting units exceeded their carrying amounts ranging from approximately 18% to approximately 124%.

As part of the Company’s impairment analyses, fair value of the reporting units were 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.

Changes in the carrying amount of goodwill by reportable segment consist of the following activity (in millions):


Goodwill roll forward:	U.S. Retail Pharmacy		International 1		U.S. Healthcare		Walgreens Boots Alliance, Inc.
August 31, 2022	$	10,947	$	1,293	$	10,040	$	22,280
Acquisitions 2	—		—		5,588		5,588
Measurement period adjustments	—		—		252		252
Currency translation adjustments and other	—		85		(18)		67
August 31, 2023	$	10,947	$	1,378	$	15,863	$	28,187
Measurement period adjustments	—		—		19		19
Impairments	—		—		(12,701)		(12,701)
Currency translation adjustments and other	—		9		(8)		1
August 31, 2024	$	10,947	$	1,388	$	3,173	$	15,506

1.As of fiscal 2022, prior period goodwill impairment charges of $1.7 billion were recognized in the International Segment.

2.In fiscal 2023, additions to goodwill primarily relate to VillageMD’s acquisition of Summit.

The fair values of indefinite-lived intangibles within the Boots reporting unit, as part of the International segment, exceeded their carrying value amounts ranging from approximately 6% to approximately 73%. As of August 31, 2024 and 2023, the carrying value of the indefinite-lived intangibles within the Boots reporting unit was $5.6 billion and $5.5 billion, respectively. There were no impairments of indefinite-lived intangibles in fiscal 2024.

In fiscal 2023 and 2022, the Company recorded impairment losses of $431 million and $783 million, respectively, related to certain pharmacy license and trade name indefinite-lived intangible assets in the Boots reporting unit within the International segment. The impairments were recorded within Selling, general and administrative expenses within the Consolidated Statements of Earnings.

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 second quarter of fiscal 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, including a charge related to certain provider network intangibles. The charge was recognized primarily within the U.S. Healthcare segment as a component of Selling, general, and administrative expenses within the Consolidated Statements of Earnings. As part of this impairment analysis, the fair values of asset groups and intangible assets were determined using the income approach.

No material impairment was recorded for definite-lived intangibles in fiscal 2023 or 2022.

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


Intangible assets:	August 31, 2024		August 31, 2023
Gross amortizable intangible assets
Customer relationships and loyalty card holders 1	$	4,868	$	4,658
Provider networks	2,957		3,202
Trade names and trademarks	2,294		2,300
Developed technology	469		469
Others	156		137
Total gross amortizable intangible assets	$	10,745	$	10,767

Accumulated amortization
Customer relationships and loyalty card holders 1	$	2,127	$	1,784
Provider networks	411		233
Trade names and trademarks	558		401
Developed technology	221		143
Others	62		48
Total accumulated amortization	3,379		2,609
Total amortizable intangible assets, net	$	7,367	$	8,158

Indefinite-lived intangible assets
Trade names and trademarks	$	4,759	$	4,650
Pharmacy licenses	848		828
Total indefinite-lived intangible assets	$	5,607	$	5,477

Total intangible assets, net	$	12,973	$	13,635

1Includes purchased prescription files.

Amortization expense for intangible assets was $963 million, $815 million and $639 million in fiscal 2024, 2023 and 2022, respectively.

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


	2025		2026		2027		2028		2029
Estimated annual amortization expense	$	974	$	930	$	840	$	756	$	688

Audit Information	12 Months Ended
Audit Information	Aug. 31, 2024
Audit Information [Abstract]
Auditor Location	Chicago, Illinois
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34

Subsequent events (Details) - Subsequent event - Footprint Optimization Program	Oct. 14, 2024 store
Minimum
Subsequent Event [Line Items]
Number of stores expected to close	900
Maximum
Subsequent Event [Line Items]
Number of stores expected to close	1,000

Goodwill and other intangible assets - schedule of goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 28,187	$ 22,280
Acquisitions		5,588
Measurement period adjustments	19	252
Impairment of goodwill	(12,701)	0	$ 0
Currency translation adjustments and other	1	67
Ending balance	15,506	28,187	22,280
VillageMD
Goodwill [Roll Forward]
Measurement period adjustments	125
Shields Health Solutions
Goodwill [Roll Forward]
Measurement period adjustments	72
CareCentrix, Inc.
Goodwill [Roll Forward]
Beginning balance		509
Measurement period adjustments		56
Ending balance			509
International
Goodwill [Roll Forward]
Impairment of goodwill			(1,700)
Reportable Segments \| U.S. Retail Pharmacy
Goodwill [Roll Forward]
Beginning balance	10,947	10,947
Acquisitions		0
Measurement period adjustments	0	0
Impairment of goodwill	0
Currency translation adjustments and other	0	0
Ending balance	10,947	10,947	10,947
Reportable Segments \| International
Goodwill [Roll Forward]
Beginning balance	1,378	1,293
Acquisitions		0
Measurement period adjustments	0	0
Impairment of goodwill	0
Currency translation adjustments and other	9	85
Ending balance	1,388	1,378	1,293
Reportable Segments \| U.S. Healthcare
Goodwill [Roll Forward]
Beginning balance	15,863	10,040
Acquisitions		5,588
Measurement period adjustments	19	252
Impairment of goodwill	(12,701)
Currency translation adjustments and other	(8)	(18)
Ending balance	$ 3,173	$ 15,863	$ 10,040

Leases - supplemental income statement information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Operating lease cost
Fixed	$ 3,473	$ 3,404	$ 3,240
Variable	909	850	825
Finance lease cost
Amortization	68	47	44
Interest	53	51	50
Sublease income	111	115	105
Impairment of right-of-use assets	526	495	218
Gain on sale-leaseback transactions	295	925	619
U.S. Retail Pharmacy
Finance lease cost
Gain on sale-leaseback transactions	295	747	558
International
Finance lease cost
Gain on sale-leaseback transactions	$ 0	178	61
International \| Germany
Finance lease cost
Gain on sale-leaseback transactions		178
International \| Germany \| Fiscal Year 2023 Acquisitions
Finance lease cost
Gain on sale-leaseback transactions		$ 47
International \| United Kingdom
Finance lease cost
Gain on sale-leaseback transactions			$ 61

Accumulated other comprehensive loss (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 28,322	$ 29,366	$ 23,822
Total other comprehensive income (loss)	100	(176)	(728)
Ending balance	12,005	28,322	29,366
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,993)	(2,805)	(2,109)
Other comprehensive income (loss) before reclassification adjustments	68	(500)	(97)
Amounts reclassified from AOCI	51	121	(565)
Other			(6)
Tax (provision) benefit	(23)	190	(27)
Total other comprehensive income (loss)	96	(189)	(696)
Ending balance	(2,897)	(2,993)	(2,805)
Pension/post-retirement obligations
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(698)	(157)	(359)
Other comprehensive income (loss) before reclassification adjustments	14	(705)	278
Amounts reclassified from AOCI	(14)	(26)	(22)
Other			(6)
Tax (provision) benefit	(8)	190	(48)
Total other comprehensive income (loss)	(8)	(541)	203
Ending balance	(706)	(698)	(157)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(5)	(3)	(10)
Other comprehensive income (loss) before reclassification adjustments	0	(7)	6
Amounts reclassified from AOCI	8	4	3
Other			0
Tax (provision) benefit	(3)	0	(2)
Total other comprehensive income (loss)	5	(2)	7
Ending balance	(1)	(5)	(3)
Net investment hedges (loss) gain
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	83	213	(35)
Other comprehensive income (loss) before reclassification adjustments	(65)	(172)	327
Amounts reclassified from AOCI	(4)	0	0
Other			0
Tax (provision) benefit	1	42	(79)
Total other comprehensive income (loss)	(68)	(130)	248
Ending balance	15	83	213
Unrealized gain (loss) on available for sale debt securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	1	96
Other comprehensive income (loss) before reclassification adjustments	0	(2)	451
Amounts reclassified from AOCI	0	0	(577)
Other			0
Tax (provision) benefit	1	1	32
Total other comprehensive income (loss)	1	(2)	(95)
Ending balance	0	0	1
Share of OCI of equity method investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(132)	(254)	(29)
Other comprehensive income (loss) before reclassification adjustments	(6)	6	(326)
Amounts reclassified from AOCI	63	158	31
Other			0
Tax (provision) benefit	(13)	(42)	70
Total other comprehensive income (loss)	45	122	(226)
Ending balance	(88)	(132)	(254)
Cumulative translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,240)	(2,605)	(1,772)
Other comprehensive income (loss) before reclassification adjustments	124	379	(833)
Amounts reclassified from AOCI	(2)	(14)	0
Other			0
Tax (provision) benefit	0	0	0
Total other comprehensive income (loss)	122	364	(833)
Ending balance	$ (2,118)	$ (2,240)	$ (2,605)

Fair value measurements

12 Months Ended

Aug. 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):


	August 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	1,790	$	1,790	$	—	$	—
Cross currency interest rate swaps 2	6		—		6		—
Foreign currency forwards 3	3		—		3		—
Investments in equity securities 4	19		19		—		—
Investment in debt securities 5	98		—		98		—
Total return swaps	11		—		11		—
Liabilities:
Variable prepaid forward 6	$	3,919	$	—	$	—	$	3,919
Foreign currency forwards 3	67		—		67		—
Cross currency interest rate swaps 2	5		—		5		—


	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		—

1.Money market funds are valued at the closing price reported by the fund sponsor and classified as Marketable securities on the Consolidated Balance Sheets.

2.The 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 further information.

3.The 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 further information.

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

5.Includes investments in Treasury debt securities.

6.The 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 24.5% - 34.5% for the lower strike and 19.6% - 22.7% for the upper strike as of August 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. See Note 8. Financial instruments, for further information.

There were no transfers between Levels in fiscal 2024 or 2023.

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, for fiscal 2024 and 2023 is as follows (in millions):


	2024		2023
Opening balance	$	(2,548)	$	—
VPF derivative additions	(424)		(2,568)
Unrealized (losses) gains recorded in Other income, net	(946)		19
Ending balance	$	(3,919)	$	(2,548)

The carrying value of the Company’s credit facilities approximated their respective fair values due to their short-term nature.

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 Financial Statements. As of August 31, 2024, the carrying amounts and estimated fair values of long term notes outstanding including the current portion were $7.2 billion and $6.4 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 August 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 August 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
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-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
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-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

Acquisitions and other Investments - schedule of purchase price allocation and identifiable assets acquired and liabilities assumed - Shields (Details) - USD ($) $ in Millions	Oct. 29, 2021	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Identifiable assets acquired and liabilities assumed:
Goodwill		$ 15,506	$ 28,187	$ 22,280
Shields Health Solutions
Purchase price allocation:
Cash consideration	$ 969
Fair value of equity consideration	13
Fair value of previously held equity and debt	502
Fair value of non-controlling interest	589
Total	2,074
Identifiable assets acquired and liabilities assumed:
Tangible assets	84
Intangible assets	1,060
Liabilities	(600)
Total identifiable net assets	544
Goodwill	$ 1,529

Summary of major accounting policies

12 Months Ended

Aug. 31, 2024

Accounting Policies [Abstract]

Summary of major accounting policies

Organization

Walgreens Boots Alliance Inc. and its subsidiaries (the “Company”), is an integrated healthcare, pharmacy and retail leader with a 170-year heritage of caring for customers and patients. Its operations are conducted through three reportable segments: U.S. Retail Pharmacy, International and U.S. Healthcare. See Note 16. Segment reporting, for further information.

Basis of presentation

Cash and cash equivalents

Restricted cash and other cash flows from operating activities

Restricted cash

The Company is required to maintain cash deposits with certain banks that consist of deposits restricted under contractual agreements and cash restricted by law and other obligations.


	August 31, 2024		August 31, 2023		August 31, 2022
Cash and cash equivalents	$	1,319	$	728	$	1,358
Marketable securities	1,790		11		1,114
Cash and cash equivalents - assets held for sale (included in other current assets)	—		24		—
Restricted cash (included in other current and non-current assets)	110		93		86
Cash, cash equivalents, marketable securities and restricted cash	$	3,218	$	856	$	2,558

Other cash flows from operating activities

Other cash outflows from operating activities primarily include non-cash adjustments. For fiscal 2024, the adjustment of $242 million primarily includes a $131 million pre-tax gain on early termination of leases and a pre-tax gain of $102 million related to the early extinguishment of debt. For fiscal 2023, the adjustment of $173 million primarily includes a pre-tax gain of $83 million from the reclassification of Option Care Health from an equity method investment to an investment in equity securities at fair value. For fiscal 2022, the adjustment of $99 million primarily includes $46 million of dividends from the Company’s equity method investments.

Accounts receivable

Inventories

The Company’s International segment inventory is accounted for using average cost and the FIFO method. The total carrying value of the inventory for International segment was $2.0 billion at August 31, 2024 and 2023.

Property, plant and equipment

The following table summarizes the Company’s property, plant and equipment (in millions) and estimated useful lives (in years):


	Estimated useful life	2024		2023
Land and land improvements 1	20	$	1,455	$	1,778
Buildings and building improvements	3 to 50	6,117		6,683
Fixtures and equipment	3 to 20	9,720		9,782
Capitalized system development costs and software	3 to 10	3,528		3,821
Assets under construction		673		1,400
Finance lease properties		1,143		1,075
		$	22,636	$	24,540
Less: accumulated depreciation and amortization		12,863		12,953
Balance at end of year		$	9,772	$	11,587

1.Land is not depreciated.

The Company capitalizes application development stage costs for internally developed software. Amortization expense for capitalized system development costs and software was $414 million, $371 million and $307 million in fiscal 2024, 2023 and 2022, respectively. Unamortized costs were $1.4 billion and $1.5 billion at August 31, 2024 and 2023, respectively.

Depreciation and amortization expense for property, plant and equipment, including capitalized system development costs and software was $1.5 billion, $1.4 billion and $1.4 billion for fiscal 2024, 2023 and 2022, respectively.

Leases

Finance leases are recognized within property, plant and equipment and as a finance lease liability within accrued expenses and other liabilities and other non-current liabilities.

See Note 4. Leases, for further information.

Business combinations

Variable interest entities

The following table summarizes the Entities’ assets and liabilities (in millions) as of August 31, 2024 and 2023, respectively.


	August 31, 2024		August 31, 2023
Total assets	$	928	$	881
Total liabilities	540		486

Goodwill and indefinite-lived intangible assets

See Note 6. Goodwill and other intangible assets, for further information regarding the Company’s intangible assets.

Equity method investments

See Note 5. Equity method investments, for further information.

Financial instruments

•Changes in the fair value of a derivative not designated in a hedging relationship are recognized in the Consolidated Statements of Earnings.

Cash receipts or payments on a settlement of a derivative contract are reported in the Consolidated Statements of Cash Flows consistent with the nature of the underlying hedged item.

Pension and post-retirement benefits

See Note 13. Retirement benefits, for further information.

Redeemable non-controlling interests

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


	2024		2023		2022
Opening balance	$	167	$	1,042	$	319
Recognition upon acquisition of subsidiary 1	—		—		2,684
Acquisition of non-controlling interests 2	—		—		(2,047)
Net income (loss) attributable to Redeemable non-controlling interests	1		(21)		(73)
Redemption price adjustments and other 3	6		460		159
Reclassifications to Accrued expenses and other liabilities 4	—		(1,314)		—
Ending balance	$	174	$	167	$	1,042

See Note 2. Acquisitions and other investments, for further information.

Non-controlling interests

Currency

Commitments and contingencies

Revenue recognition

Retail and Pharmacy

Wholesale

Wholesale revenue is recognized, net of taxes and expected returns, upon shipment of goods, which is generally also the day of delivery.

Healthcare services

Cost of sales

Retail, Pharmacy and Wholesale

Healthcare services

Selling, general and administrative expenses

Advertising costs

Impairment of long-lived assets

Impairment charges for long-lived assets included in Selling, general and administrative expenses in the Consolidated Statements of Earnings were $1.7 billion, $863 million and $380 million for fiscal 2024, 2023 and 2022 respectively.

The determination of the fair value of the asset group requires management to estimate a number of factors including anticipated future cash flows and discount rates. Although we believe these estimates are reasonable, actual results could differ from those estimates due to the inherent uncertainty involved in making such estimates.

Stock compensation plans

Insurance

Income taxes

Earnings per share

The dilutive effect of outstanding stock options and restricted stock units 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 14.1 million, 17.8 million and 17.1 million weighted outstanding options to purchase common shares that were anti-dilutive and excluded from the earnings per share calculation for fiscal 2024, 2023 and 2022, respectively.

Due to the anti-dilutive effect resulting from the reported net loss, an incremental 7.5 million and 3.0 million of potentially dilutive securities were omitted from the calculation of weighted-average common shares outstanding for fiscal 2024 and 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
August	$	0.2500	$	0.4800
Total	$	1.2300	$	1.9200

New accounting pronouncements

Adoption of new accounting pronouncements

Acquired contract assets and contract liabilities in a business combination

Liabilities — Supplier Finance Programs

New accounting pronouncements not yet adopted

Leases — Common Control Arrangements

Segment Reporting - Improvements to Reportable Segment Disclosures

Improvements to Income Tax Disclosures

Stock compensation plans	12 Months Ended
Stock compensation plans	Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock compensation plans	Stock compensation plans In fiscal 2021, the Company’s Board of Directors approved the Walgreens Boots Alliance, Inc. 2021 Omnibus Incentive Plan (the “2021 Omnibus Plan”). The 2021 Omnibus Plan replaced the Walgreens Boots Alliance, Inc. 2013 Omnibus Incentive Plan and provides incentive compensation to the Company’s non-employee directors, officers and other eligible employees. The Company may grant performance shares, restricted stock units, and stock options under the 2021 Omnibus Plan. Performance shares issued under the 2021 Omnibus Plan offer performance-based incentive equity awards to certain employees. Restricted stock units and stock options are also equity-based awards with vesting requirements that are granted to employees. These awards are subject to restrictions as to continuous employment except in the case of death, normal retirement or total and permanent disability. Stock-based compensation expense associated with such plans for fiscal 2024, 2023 and 2022 was $73 million, $58 million and $133 million, respectively. Certain majority-owned subsidiaries within the U.S. Healthcare segment maintain standalone stock-based compensation plans. Stock-based compensation expense associated with such plans for fiscal 2024, 2023 and 2022 was $110 million, $327 million and $269 million, respectively, including the impact of fair value adjustments resulting from acquisitions. Awards granted under standalone stock-based compensation plans include subsidiary units, profits interests, and options. Awards generally vest over time or subject to achievement of certain subsidiary performance targets. Certain awards accelerate vesting upon a change in control or upon the Company’s acquisition of additional subsidiary equity above a certain threshold. Unrecognized compensation cost related to non-vested awards, inclusive of awards issued under the 2021 Omnibus Plan and the standalone subsidiary stock compensation plans, was $276 million at August 31, 2024, which will be fully recognized over the next three years.

Financial instruments

12 Months Ended

Aug. 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):


August 31, 2024	Notional		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	50	$	1	Other current assets
Foreign currency forwards	7		—		Other current assets
Cross currency interest rate swaps	253		5		Other non-current assets
Foreign currency forwards	4		—		Other non-current assets
Foreign currency forwards	923		15		Accrued expenses and other liabilities
Cross currency interest rate swaps	356		5		Accrued expenses and other liabilities
Foreign currency forwards	2		—		Other non-current liabilities


Derivatives not designated as hedges:
Foreign currency forwards	$	534	$	3	Other current assets
Total return swap	211		11		Other current assets
Foreign currency forwards	3,606		52		Accrued expenses and other liabilities

Variable prepaid forward contracts	1,185		1,332		Accrued expenses and other liabilities
Variable prepaid forward contracts	2,541		2,587		Other non-current liabilities


August 31, 2023	Notional		Fair value		Location in Consolidated 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		Accrued expenses and other liabilities
Cross currency interest rate swaps	102		2		Accrued expenses and other 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 swap	168		1		Other current assets
Foreign currency forwards	817		2		Accrued expenses and other liabilities
Total return swap	26		1		Accrued expenses and other 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 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 Balance Sheets, and released to the Consolidated 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 2024 and 2023, the Company entered into VPF derivative contracts 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 Accrued expenses and other liabilities and Other non-current liabilities in the Consolidated Balance Sheets as derivatives. The Company has pledged shares of Cencora common stock as collateral upon entering into the VPF derivative contracts. The VPF derivative contracts 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 derivative contracts 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 derivative contracts will not exceed the shares subject to forward sale.

The terms of the VPF derivative contracts 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 Statements of Earnings as follows (in millions):


	Location in Consolidated Statements of Earnings	2024	2023	2022
Total return swaps	Selling, general and administrative expenses	29	12	(33)
Foreign currency forwards	Other income, net 1	(39)	(273)	523
Variable prepaid forward	Other income, net	(946)	19	—

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 Balance Sheets.

Debt - short and long-term debt (Details)	12 Months Ended
Debt - short and long-term debt (Details)	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2024 GBP (£)	Aug. 31, 2024 EUR (€)	Aug. 12, 2024 USD ($)	Nov. 17, 2021 USD ($)	Nov. 15, 2021 USD ($)
Debt Instrument [Line Items]
Total short-term debt	$ 1,505,000,000	$ 917,000,000
Other	13,000,000	20,000,000
Total long-term debt, less current portion	8,044,000,000	8,145,000,000
Long-term debt purchased and retired	30,474,000,000	8,978,000,000	$ 8,360,000,000
Loss on early extinguishment of debt	(102,000,000)
3.800% unsecured notes due 2024
Debt Instrument [Line Items]
Total short-term debt	1,157,000,000	0
Other
Debt Instrument [Line Items]
Total short-term debt	58,000,000	68,000,000
Unsecured notes \| 0.9500% notes payable, due 2023
Debt Instrument [Line Items]
Face amount							$ 850,000,000
Stated interest rate (as a percent)							95.00%
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 (as a percent)	3.80%			3.80%	3.80%
Long-term debt	$ 0	1,156,000,000
Unsecured notes \| $1.5 billion debt 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 (as a percent)	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 (as a percent)	4.10%			4.10%	4.10%
Long-term debt	$ 635,000,000	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 (as a percent)	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 (as a percent)	4.65%			4.65%	4.65%
Long-term debt	$ 295,000,000	318,000,000
Unsecured notes \| 4.500% unsecured notes due 2034
Debt Instrument [Line Items]
Stated interest rate (as a percent)	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 (as a percent)	4.80%			4.80%	4.80%
Long-term debt	$ 657,000,000	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 (as a percent)	3.60%			3.60%	3.60%
Long-term debt	$ 391,000,000	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 (as a percent)	2.125%			2.125%	2.125%
Long-term debt	$ 833,000,000	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 (as a percent)	4.40%			4.40%	4.40%
Long-term debt	$ 236,000,000	263,000,000
Unsecured notes \| $750 million note issuance
Debt Instrument [Line Items]
Face amount	$ 750,000,000
Unsecured notes \| 8.125% Notes Payable, Due 2029
Debt Instrument [Line Items]
Face amount						$ 750,000,000
Stated interest rate (as a percent)	8.125%			8.125%	8.125%	8.125%
Long-term debt	$ 740,000,000	0
Term loan \| Credit facilities
Debt Instrument [Line Items]
Face amount								$ 3,000,000,000
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	1,000,000,000	999,000,000
Credit facilities \| August 2023 DDTL due November 2026
Debt Instrument [Line Items]
Long-term debt	1,000,000,000	0
Credit facilities \| November 2021 DDTL due November 2024
Debt Instrument [Line Items]
Total short-term debt	290,000,000	0
Unsecured notes \| $850 million note issuance
Debt Instrument [Line Items]
Face amount	$ 850,000,000
Unsecured notes \| 0.9500% notes payable, due 2023
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.95%			0.95%	0.95%
Total short-term debt	$ 0	$ 850,000,000
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 (as a percent)	3.80%			3.80%	3.80%

Debt - narrative (Details) - USD ($) $ in Millions							12 Months Ended
Debt - narrative (Details) - USD ($) $ in Millions	Aug. 12, 2024	Aug. 09, 2023	Dec. 19, 2022	Jun. 17, 2022	Nov. 17, 2021	Nov. 15, 2021	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Line of Credit Facility [Line Items]
Interest paid, net of capitalized interest							$ 578	$ 606	$ 420
Loss on early extinguishment of debt							(102)
Commercial paper
Line of Credit Facility [Line Items]
Commercial paper, amount outstanding							$ 0	0
Maximum
Line of Credit Facility [Line Items]
Debt to total capitalization ratio							0.60
Unsecured notes \| 8.125% Notes Payable, Due 2029
Line of Credit Facility [Line Items]
Face amount	$ 750
Stated interest rate (as a percent)	8.125%						8.125%
Long term debt							$ 740	$ 0
Unsecured notes \| 0.9500% notes payable, due 2023
Line of Credit Facility [Line Items]
Face amount					$ 850
Stated interest rate (as a percent)					95.00%
Debt instrument, redemption price, percentage					100.00%
Credit facilities
Line of Credit Facility [Line Items]
Borrowings outstanding							0
Remaining borrowing capacity							5,800
Credit facilities \| Unsecured credit facility, due August 2026
Line of Credit Facility [Line Items]
Face amount		$ 2,250
Debt term		3 years
Borrowings outstanding							0
Credit facilities \| Unsecured credit facility, due August 2026 \| Minimum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Credit facilities \| Unsecured credit facility, due August 2026 \| Maximum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Credit facilities \| Unsecured credit facility, due August 2023
Line of Credit Facility [Line Items]
Face amount		$ 1,000
Borrowings outstanding							1,000
Credit facilities \| Unsecured credit facility, due August 2023 \| Minimum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Credit facilities \| Unsecured credit facility, due August 2023 \| Maximum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Credit facilities \| Unsecured credit facility, 3 year term, due 2026
Line of Credit Facility [Line Items]
Face amount			$ 1,000
Borrowings outstanding							1,000
Credit facilities \| Unsecured credit facility, 3 year term, due 2026 \| Minimum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate			0.875%
Credit facilities \| Unsecured credit facility, 3 year term, due 2026 \| Maximum \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate			1.50%
Credit facilities \| June 17, 2022 revolving credit facility, five-year facility
Line of Credit Facility [Line Items]
Face amount				$ 3,500
Debt term				5 years
Credit facilities \| June 17, 2022 revolving credit facility, 18-month facility
Line of Credit Facility [Line Items]
Face amount				$ 1,500
Debt term				18 months
Borrowings outstanding							$ 0
Credit facilities \| June 17, 2022 revolving credit facility, 18-month facility \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				0.80%
Credit facilities \| June 17, 2022 revolving credit facility, 18-month facility \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.50%
Credit facilities \| Delayed draw term loan credit facility
Line of Credit Facility [Line Items]
Face amount						$ 5,000
Credit facilities \| Delayed draw term loan credit facility, 364-day facility \| Term loan
Line of Credit Facility [Line Items]
Face amount						$ 2,000
Debt term						364 days
Credit facilities \| Delayed draw term loan credit facility, 364-day facility \| Term loan \| Eurodollar
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate						0.75%
Credit facilities \| Delayed draw term loan credit facility, two-year facility \| Term loan
Line of Credit Facility [Line Items]
Debt term						2 years
Credit facilities \| Term loan
Line of Credit Facility [Line Items]
Face amount						$ 3,000
Credit facilities \| Term loan \| June 17, 2022 revolving credit facility, five-year facility
Line of Credit Facility [Line Items]
Debt term				5 years
Credit facilities \| Term loan \| June 17, 2022 revolving credit facility, 18-month facility
Line of Credit Facility [Line Items]
Debt term				18 months
Credit facilities \| Term loan \| Delayed draw term loan credit facility, two-year facility
Line of Credit Facility [Line Items]
Face amount						$ 2,000
Debt term						2 years
Credit facilities \| Term loan \| Delayed draw term loan credit facility, two-year facility \| Eurodollar
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate						0.88%
Credit facilities \| Term loan \| Delayed draw term loan credit facility, three-year facility
Line of Credit Facility [Line Items]
Face amount						$ 1,000
Debt term						3 years
Credit facilities \| Term loan \| Delayed draw term loan credit facility, three-year facility \| SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate						1.05%
Unsecured notes \| 8.125% Notes Payable, Due 2029 \| August 15, 2026
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage	104.00%
Unsecured notes \| 8.125% Notes Payable, Due 2029 \| August 15, 2027
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage	102.00%
Unsecured notes \| 8.125% Notes Payable, Due 2029 \| August 15, 2028
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage	100.00%

Retirement benefits - assumptions (Details) - Pension Plan	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	4.90%	5.22%
Rate of compensation increase	3.63%	3.73%
Weighted-average assumptions used to determine net periodic benefit cost1
Discount rate	5.40%	4.20%
Expected long-term return on plan assets	6.00%	4.90%
Rate of compensation increase	3.73%	3.04%

Supplemental information - schedule of redeemable non-controlling interest (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 167	$ 1,042	$ 319
Recognition upon acquisition of subsidiary	0	0	2,684
Acquisitions of non-controlling interests	0	0	(2,047)
Net income (loss) attributable to Redeemable non-controlling interests	1	(21)	(73)
Redemption price adjustments	6	460	159
Reclassifications to accrued expenses and other liabilities	0	(1,314)	0
Ending balance	174	167	1,042
Conversion of Stock [Line Items]
Recognition upon acquisition of subsidiary	$ 0	$ 0	2,684
VillageMD
Increase (Decrease) in Temporary Equity [Roll Forward]
Recognition upon acquisition of subsidiary			1,900
Conversion of Stock [Line Items]
Recognition upon acquisition of subsidiary			$ 1,900
McKesson Corporation, GEHE Pharma Handel
Conversion of Stock [Line Items]
Outstanding equity interest percentage			30.00%

Financial instruments - variable prepaid forward transactions (Details) - USD ($) shares in Thousands, $ in Millions						12 Months Ended
	Nov. 09, 2023	Aug. 04, 2023	Aug. 03, 2023	Jun. 15, 2023	May 11, 2023	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Derivatives, Fair Value [Line Items]
Proceeds from variable prepaid forwards						$ 424	$ 2,568	$ 0
Derivatives not designated as hedges:
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)						20,000	17,300
Proceeds from variable prepaid forwards						$ 2,991
Derivatives not designated as hedges: \| Variable Prepaid Forward Due Fourth Quarter Fiscal 2025
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)					4,600
Proceeds from variable prepaid forwards					$ 644
Derivatives not designated as hedges: \| Variable Prepaid Forward Due Third Quarter Fiscal 2025
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)				2,200
Proceeds from variable prepaid forwards				$ 325
Derivatives not designated as hedges: \| Variable Prepaid Forward Due First Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)			5,300
Proceeds from variable prepaid forwards			$ 801
Derivatives not designated as hedges: \| Variable Prepaid Forward Due Third Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)		5,300
Proceeds from variable prepaid forwards		$ 797
Derivatives not designated as hedges: \| Variable Prepaid Forward Due Fourth Quarter Fiscal 2026
Derivatives, Fair Value [Line Items]
Pledged collateral (in shares)	2,700
Proceeds from variable prepaid forwards	$ 424

Income taxes - unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Reconciliation of Unrecognized Tax Benefits
Balance at beginning of year	$ 1,106	$ 1,110	$ 1,098
Gross increases related to tax positions in a prior period	91	12	63
Gross decreases related to tax positions in a prior period	(443)	(19)	(51)
Gross increases related to tax positions in the current period	273	12	21
Settlements with taxing authorities	(12)	(7)	(19)
Lapse of statute of limitations	(3)	(2)	(2)
Balance at end of year	$ 1,012	$ 1,106	$ 1,110

Commitments and contingencies (Details) $ in Millions				1 Months Ended			12 Months Ended
Commitments and contingencies (Details) $ in Millions	Jun. 18, 2024 USD ($)	Mar. 19, 2024 USD ($)	Nov. 02, 2022 USD ($)	Aug. 31, 2022 USD ($)	Dec. 31, 2020 case	Dec. 31, 2017 case	Aug. 31, 2024 USD ($)	Dec. 29, 2023 USD ($)	Aug. 31, 2023 USD ($)	Jun. 08, 2023	Nov. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Accrued litigation obligations							$ 6,008		$ 6,261
Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party		$ 988
Estimated litigation liability		79
Damages limit		$ 79
Rite Aid Merger
Loss Contingencies [Line Items]
Number of cases \| case					2
Rite Aid Merger \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability							193
Settlement Frameworks \| Pending Litigation
Loss Contingencies [Line Items]
Accrued litigation obligations			$ 754
Litigation settlement, period			6 years
Estimated litigation liability											$ 6,500
Settlement Frameworks \| Settled Litigation
Loss Contingencies [Line Items]
Accrued litigation obligations							6,000
Estimated litigation liability, current							623
Estimated litigation liability							6,600
Percentage of litigating subdivisions										99.70%
Settling States \| Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, period			15 years
Estimated litigation liability			$ 4,800
Settling States \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, period			15 years
Settling Tribes \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability			$ 155
Ohio Combined Cases \| Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party				$ 651
Litigation settlement, period				15 years
Number of cases \| case						2
Ohio Combined Cases \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 28
Usual and Customary Pricing \| Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability							339
Humana \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party							$ 642
Accrued litigation obligations								$ 360

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,636)	$ (3,080)	$ 4,337

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Income taxes - deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Deferred tax assets:
Compensation and benefits	$ 100	$ 98
Insurance	125	131
Accrued rent & lease obligations	4,969	5,265
Legal liability	1,477	1,551
Allowance for doubtful accounts	36	23
Tax attributes	7,894	7,784
Stock compensation	62	74
Derivatives	225	0
Deferred income	5	8
Equity method investment	29	76
Intangible assets	499	0
Post-retirement benefits	91	0
Other	86	143
Subtotal deferred tax assets	15,598	15,153
Less: valuation allowance	9,642	7,360
Total deferred tax assets, net	5,956	7,793
Deferred tax liabilities:
Accelerated depreciation	341	254
Inventory	371	403
Intangible assets	1,008	1,024
Lease right-of-use asset	4,392	4,690
Outside basis difference	340	1,045
Post retirement benefit	196	0
Other	82	180
Total deferred tax liabilities	6,730	7,596
Net deferred tax assets		$ 197
Net deferred tax (liabilities) assets	$ (774)

Income taxes - narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income taxes - narrative (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 02, 2012
Operating Loss Carryforwards [Line Items]
Effective income tax rate	8.80%	(34.30%)	(0.80%)
Deferred tax assets, tax attributes	$ 7,894	$ 7,784
Income tax credits	189
Deferred tax assets operating loss carryforwards subject to expiration	6,900
Deferred tax assets operating loss carryforwards not subject to expiration	1,000
Valuation allowance	9,642	7,360
Increase in valuation allowance	2,300
Income taxes paid	297	64	$ 387
Unrecognized tax benefits	1,012	1,106	1,110	$ 1,098
Unrecognized tax benefits reported against deferred taxes	394	413
Unrecognized tax benefits reported against tax receivables	75	116
Unrecognized tax benefits would favorably impact the effective tax rate if recognized	618	588	529
Decrease in unrecognized tax benefits is reasonably possible	45
Accrued interest and penalties in income tax provision	182	125
Interest and penalties included in income tax expense	57	29	13
Estimate of possible loss	2,700
Unrecorded deferred tax liability for temporary differences related to foreign subsidiaries		9	104
Tax cuts and jobs act, measurement period adjustment, income tax expense (benefit)			$ (247)
Alliance Boots
Operating Loss Carryforwards [Line Items]
Outstanding equity interest percentage					45.00%
Option to acquire outstanding equity percentage					55.00%
Option to acquire outstanding equity, value					$ 866
Long-term liabilities
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	725	$ 703
U.S. Federal
Operating Loss Carryforwards [Line Items]
Deferred tax assets, operating loss carryforwards	2,500
State
Operating Loss Carryforwards [Line Items]
Deferred tax assets, operating loss carryforwards	1,200
Non-U.S.
Operating Loss Carryforwards [Line Items]
Deferred tax assets, operating loss carryforwards	28,100
U.S. Federal And State
Operating Loss Carryforwards [Line Items]
Increase in valuation allowance	$ 2,200

Retirement benefits - narrative (Details) $ in Millions			12 Months Ended
Retirement benefits - narrative (Details) $ in Millions	Dec. 07, 2023 USD ($)	Nov. 23, 2023 USD ($) member	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accelerated future employer contributions		$ 210
Contributions by employer	$ 375
Plan assets, period increase			$ 124
Annuity			6,000
Annuity deferred premiums			860
Annuity payments			229
Reduction in benefit obligation due to potential discount rate decrease			149
Reduction in benefit obligation due to potential expected return decrease			15
Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions		760
Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions		$ 820
Postretirement Health Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan obligation			114	$ 113
Expected benefit to be paid next fiscal year			7
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Number of members \| member		53,000
Contributions by employer			435	40
Defined benefit plan obligation			5,433	5,515	$ 5,967
Expected benefit to be paid next fiscal year			312
United States
Defined Benefit Plan Disclosure [Line Items]
Profit sharing provision expense			223	239	234
Contributions to profit sharing			223	241	236
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Cost recognized in the consolidated condensed statements of earnings			$ 101	$ 83	$ 90

Acquisitions and other Investments - narrative (Details) - USD ($) $ in Millions								3 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 03, 2023	Jan. 03, 2023	Dec. 28, 2022	Aug. 31, 2022	Nov. 24, 2021	Oct. 29, 2021	Nov. 30, 2022	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022	Oct. 28, 2021
Business Acquisition [Line Items]
Measurement period adjustments									$ 19	$ 252
Gain on sale of equity method investment									1,520	1,855	$ 559
Goodwill					$ 22,280				15,506	28,187	$ 22,280
VillageMD
Business Acquisition [Line Items]
Fair value of equity consideration			$ 1,750
Noncontrolling interest, ownership percentage by parent			53.00%
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
Summit Heath-CityMD
Business Acquisition [Line Items]
Cash consideration			7,000
Total 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
Tax deductible goodwill			416
Intangible assets			3,359
Goodwill			5,454
Summit Heath-CityMD \| Partnership Interest
Business Acquisition [Line Items]
Fair value of equity consideration			2,050
Summit Heath-CityMD \| Primary Care Provider Network
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]
Total purchase price						$ 5,200
Fair value of equity consideration						683
Measurement period adjustments									125
Business combination, consideration transferred, gross						4,000
Business combination, consideration transferred, other						1,200
Business combination, consideration transferred to existing stockholders						2,900
Business acquisition, value of common stock shares acquired						1,900
Business combination, cash transferred for preferred units						1,100
Gain on sale of equity method investment								$ 1,600
Other comprehensive income (loss), reclassification adjustment from AOCI for investment transferred from available-for-sale to equity method, after tax								$ 577
Intangible assets						1,621
Goodwill						8,166
VillageMD \| Primary Care Provider Network
Business Acquisition [Line Items]
Intangible assets						$ 1,200
Useful life of capitalized software costs						15 years
VillageMD \| Trade Names
Business Acquisition [Line Items]
Intangible assets						$ 295
Useful life of capitalized software costs						13 years
VillageMD \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets						$ 76
Useful life of capitalized software costs						5 years
VillageMD \| Minimum
Business Acquisition [Line Items]
Outstanding equity interest percentage						30.00%
VillageMD \| Maximum
Business Acquisition [Line Items]
Outstanding equity interest percentage						63.00%
Shields Health Solutions
Business Acquisition [Line Items]
Cash consideration							$ 969
Total purchase price				$ 1,400
Fair value of equity consideration							$ 13
Measurement period adjustments									72
Outstanding equity interest percentage				30.00%			70.00%					25.00%
Gain on sale of equity method investment										402
Intangible assets							$ 1,060
Goodwill							1,529
Shields Health Solutions \| Trade Names
Business Acquisition [Line Items]
Intangible assets							$ 47
Useful life of capitalized software costs							13 years
Shields Health Solutions \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets							$ 117
Useful life of capitalized software costs							5 years
Shields Health Solutions \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets							$ 896
Useful life of capitalized software costs							13 years
CareCentrix, Inc.
Business Acquisition [Line Items]
Cash consideration					327
Total purchase price	$ 378
Fair value of equity consideration					66
Business combination, consideration transferred, employees					$ 12
Measurement period adjustments										56
Outstanding equity interest percentage	45.00%				55.00%						55.00%
Business combination, consideration transferred, gross					$ 339
Intangible assets					426						$ 426
Goodwill					$ 509						$ 509
CareCentrix, Inc. \| Trade Names
Business Acquisition [Line Items]
Intangible assets										$ 93
Useful life of capitalized software costs										13 years
CareCentrix, Inc. \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets										$ 86
Useful life of capitalized software costs										5 years
CareCentrix, Inc. \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets										$ 247
Useful life of capitalized software costs										13 years
Other Acquisitions
Business Acquisition [Line Items]
Total purchase price									533	$ 324
Starling MSO Holdings, LLC
Business Acquisition [Line Items]
Cash consideration		$ 284
Total purchase price		222
Fair value of equity consideration		$ 62
Intangible assets									128
Goodwill									$ 103

Segment reporting (Tables)

12 Months Ended

Aug. 31, 2024

Segment Reporting [Abstract]

Reconciliation of revenue from segments to consolidated

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


	2024		2023		2022
Sales:
U.S. Retail Pharmacy
Pharmacy	$	88,867	$	82,118	$	80,434
Retail	26,911		28,195		28,643
Total	$	115,778	$	110,314	$	109,078

International
Pharmacy	$	3,598	$	3,664	$	3,727
Retail	7,887		7,324		6,924
Wholesale	12,067		11,211		11,178
Total	$	23,552	$	22,198	$	21,830

U.S. Healthcare	$	8,345	$	6,570	$	1,795

Corporate and Other 1	$	(16)	$	—	$	—

Walgreens Boots Alliance, Inc.	$	147,658	$	139,081	$	132,703

Adjusted operating income:
U.S. Retail Pharmacy	$	2,167	$	3,689	$	5,029
International	793		935		726
U.S. Healthcare	(134)		(566)		(370)
Corporate and Other	(202)		(187)		(251)
Walgreens Boots Alliance, Inc.	$	2,624	$	3,871	$	5,133

Depreciation and amortization:
U.S. Retail Pharmacy	$	1,422	$	1,362	$	1,415
International	370		328		355
U.S. Healthcare	651		560		211
Corporate and Other	16		8		9
Walgreens Boots Alliance, Inc.	$	2,459	$	2,257	$	1,990

Capital expenditures:
U.S. Retail Pharmacy	$	1,041	$	1,421	$	1,207
International	247		308		295
U.S. Healthcare	91		375		218
Corporate and Other	2		13		15
Walgreens Boots Alliance, Inc.	$	1,381	$	2,117	$	1,734

1.Includes certain eliminations.

Reconciliation of operating profit (loss) from segments to consolidated

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


	2024		2023		2022
Adjusted operating income (Non-GAAP measure):	$	2,624	$	3,871	$	5,133
Impairment of goodwill, intangibles and long-lived assets	(13,422)		(299)		(783)
Acquisition-related amortization	(1,075)		(1,126)		(855)
Transformational cost management	(891)		(1,181)		(763)
Acquisition-related costs	(542)		(323)		(223)
Certain legal and regulatory accruals and settlements	(561)		(7,466)		(768)
Adjustments to equity earnings in Cencora	(162)		(211)		(218)
LIFO provision	(47)		(187)		(135)

Store damage and inventory loss insurance recovery	—		40		—
Operating (loss) income (GAAP measure)	$	(14,076)	$	(6,882)	$	1,387

Geographic data for net sales

Geographic data for sales is as follows (in millions):


	2024		2023		2022
United States	$	124,176	$	116,883	$	110,873
Germany	12,067		11,211		11,178
United Kingdom	9,550		8,984		8,894
Other	1,864		2,003		1,757
Sales	$	147,658	$	139,081	$	132,703

Geographic data for long-lived assets

Geographic data for long-lived assets, defined as operating lease right-of-use assets and property, plant and equipment, is as follows (in millions):


	2024		2023
United States	$	25,873	$	28,951
United Kingdom	3,538		3,622
Other	697		681
Total long-lived assets	$	30,108	$	33,254

Retirement benefits - expected future benefit payments (Details) - Pension Plan $ in Millions	Aug. 31, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2025	$ 312
2026	325
2027	334
2028	344
2029	356
2030-2034	$ 1,855

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Income Statement [Abstract]
Sales	$ 147,658	$ 139,081	$ 132,703
Cost of sales	121,134	112,009	104,437
Gross profit	26,524	27,072	28,265
Selling, general and administrative expenses	28,113	34,205	27,295
Impairment of goodwill	12,701	0	0
Equity earnings in Cencora	213	252	418
Operating (loss) income	(14,076)	(6,882)	1,387
Other income, net	340	2,043	2,998
(Loss) earnings before interest and income tax provision (benefit)	(13,736)	(4,839)	4,385
Interest expense, net	482	580	400
(Loss) earnings before income tax provision (benefit)	(14,219)	(5,419)	3,985
Income tax provision (benefit)	1,246	(1,858)	(30)
Post-tax earnings from other equity method investments	17	33	50
Net earnings (loss)	(15,448)	(3,528)	4,065
Net loss attributable to non-controlling interests	(6,812)	(448)	(271)
Net (loss) earnings attributable to Walgreens Boots Alliance, Inc.	$ (8,636)	$ (3,080)	$ 4,337
Net (loss) earnings per common share:
Total (in dollars per share)	$ (10.01)	$ (3.57)	$ 5.02
Earnings Per Share, Diluted [Abstract]
Total (in dollars per share)	$ (10.01)	$ (3.57)	$ 5.01
Weighted average common shares outstanding:
Basic (in shares)	863.1	863.2	864.4
Diluted (in shares)	863.1	863.2	865.9

Income taxes (Tables)

12 Months Ended

Aug. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The components of (Loss) earnings before income tax provision (benefit) were (in millions):


	2024		2023		2022
U.S.	$	(15,599)	$	(7,553)	$	2,998
Non–U.S.	1,380		2,134		987
Total	$	(14,219)	$	(5,419)	$	3,985

Provisions for income taxes

The Income tax provision (benefit) consists of the following (in millions):


	2024		2023		2022
Current provision
Federal	$	91	$	242	$	39
State	52		(13)		37
Non–U.S.	185		283		260
	$	328	$	512	$	336
Deferred provision

Federal	$	910	$	(1,886)	$	(78)
State	259		(364)		(20)

Non–U.S.	(251)		(120)		(268)
	918		(2,370)		(366)
Income tax provision (benefit)	$	1,246	$	(1,858)	$	(30)

Difference between the statutory federal income tax rate and the effective tax rate

The difference between the statutory federal income tax rate and the effective tax rate is as follows:


	2024		2023		2022
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	(1.8)		5.8		0.4
Foreign income taxed at non-U.S. rates	(0.3)		(3.0)		(3.0)
Non-taxable income	0.3		2.5		(2.7)
Non-deductible expenses	(0.9)		(4.9)		3.0

Change in valuation allowance 1	(13.2)		6.0		(9.0)
Tax benefits from restructuring	—		1.1		—

Uncertain tax positions	(0.4)		(0.5)		1.3
Non-controlling interest	(10.1)		(2.9)		1.2
Goodwill impairment	(7.2)		—		—
Tax credits	0.5		2.8		(1.0)
Conversion of equity investment	—		—		(11.8)
Change in tax basis in foreign assets2	2.2		—		—
Change in outside basis difference	1.4		1.9		—
Change in measurement of prior year tax positions	—		3.5		—
Other	(0.3)		1.0		(0.2)
Effective income tax rate 3	(8.8)	%	34.3	%	(0.8)	%

1Net of changes in related tax attributes and tax benefits from capital losses generated and utilized.

2Represents the initial recognition of tax basis in intangible assets in foreign jurisdiction and the related valuation allowance.

3Effective tax rate for fiscal 2024 represents a tax expense on a pre-tax loss.

Deferred tax assets and liabilities included in the consolidated balance sheet

The deferred tax assets and liabilities included in the Consolidated Balance Sheets consist of the following (in millions):


	August 31, 2024		August 31, 2023
Deferred tax assets:

Compensation and benefits	$	100	$	98

Insurance	125		131
Accrued rent & lease obligations	4,969		5,265

Legal liability	1,477		1,551
Allowance for doubtful accounts	36		23
Tax attributes	7,894		7,784
Stock compensation	62		74
Derivatives	225		—
Deferred income	5		8
Equity method investment	29		76
Intangible assets	499		—
Post retirement benefit	91		—
Other	86		143
Total deferred tax assets	$	15,598	$	15,153
Less: valuation allowance	9,642		7,360
Total deferred tax assets, net	$	5,956	$	7,793

Deferred tax liabilities:
Accelerated depreciation	$	341	$	254
Inventory	371		403
Intangible assets	1,008		1,024

Lease right-of-use asset	4,392		4,690
Outside basis difference	340		1,045
Post retirement benefit	196		—
Other	82		180
Total deferred tax liabilities	$	6,730	$	7,596

Net deferred tax (liabilities) assets	$	(774)	$	197

Schedule of Unrecognized Tax Benefits Roll Forward

The following table provides a reconciliation of the total amounts of unrecognized tax benefits (in millions):


	2024		2023		2022
Balance at beginning of year	$	1,106	$	1,110	$	1,098
Gross increases related to tax positions in a prior period	91		12		63
Gross decreases related to tax positions in a prior period	(443)		(19)		(51)
Gross increases related to tax positions in the current period	273		12		21
Settlements with taxing authorities	(12)		(7)		(19)

Lapse of statute of limitations	(3)		(2)		(2)
Balance at end of year	$	1,012	$	1,106	$	1,110

Leases - future lease payments for operating and finance leases (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Finance lease
2025	$ 128
2026	123
2027	121
2028	99
2029	88
Later	892
Total undiscounted minimum lease payments	1,451
Less: Present value discount	(460)
Lease liability	991	$ 976
Operating lease 1,2
2025	3,668
2026	3,599
2027	3,519
2028	3,383
2029	3,162
Later	12,792
Total undiscounted minimum lease payments	30,123
Less: Present value discount	(6,820)
Lease liability	$ 23,303	$ 24,472

Related parties (Details) - Related Party - Cencora - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Related Party Transaction [Line Items]
Purchases, net	$ 73,918	$ 65,173	$ 62,174
Trade accounts payable, net of receivables	$ 9,259	$ 7,814	$ 6,915

Stock compensation plans (Details) - USD ($) $ in Millions	12 Months Ended
Stock compensation plans (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 182	$ 385	$ 391
Unrecognized compensation cost related to non-vested awards	$ 276
Compensation cost not yet recognized period for recognition	3 years
2021 Omnibus Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 73	58	133
Walgreens health
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 110	$ 327	$ 269

- 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/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Exit and disposal activities - narrative (Details) $ in Millions		3 Months Ended	12 Months Ended
	Dec. 20, 2018 USD ($)	Feb. 29, 2024 clinic	Aug. 31, 2024 USD ($) store clinic	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Sep. 01, 2019 USD ($)
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings			$ (12,005)	$ (28,322)	$ (29,366)	$ (23,822)
Capitalized system development costs and software
Restructuring Cost and Reserve [Line Items]
Impairment of goodwill, intangibles and long-lived assets			455
Retained earnings
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings			(23,348)	(33,058)	$ (37,801)	$ (35,121)
Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Expected annual cost savings of restructuring plan			4,500	$ 3,500
Expected restructuring costs			$ 4,300
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			624
Transformational cost management program \| United States
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close \| store			950
Number of stores closed \| store			676
Transformational cost management program \| Retained earnings \| Cumulative Effect, Period of Adoption, Adjustment
Restructuring Cost and Reserve [Line Items]
Cumulative effect adjustment to decrease retained earnings							$ 508
Exit and disposal costs \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 4,000
Lease obligations and other real estate costs \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Costs incurred			1,700
Asset impairments \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Costs incurred			1,000
Employee severance and business transition costs \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Costs incurred			1,000
Information technology transformation and other exit costs \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Costs incurred			$ 300
Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Number of clinics closed \| clinic		90
Transformational cost management program \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Number of clinics closed \| clinic			160
Impairment			$ 303
Minimum \| Transformational cost management program
Restructuring Cost and Reserve [Line Items]
Expected annual cost savings of restructuring plan	$ 2,000

Exit and disposal activities - restructuring reserve activity (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative expenses
Transformational cost management program
Restructuring Reserve [Roll Forward]
Beginning balance	$ 102	$ 113
Costs	835	1,158
Payments	(430)	(320)
Other - non cash	(471)	(849)
Ending balance	36	102
Transformational cost management program \| Lease obligations and other real estate costs
Restructuring Reserve [Roll Forward]
Beginning balance	10	10
Costs	535	516
Payments	(223)	(105)
Other - non cash	(315)	(411)
Ending balance	8	10
Transformational cost management program \| Asset impairments
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Costs	128	441
Payments	0	0
Other - non cash	(128)	(441)
Ending balance	0	0
Transformational cost management program \| Employee severance and business transition costs
Restructuring Reserve [Roll Forward]
Beginning balance	70	76
Costs	102	150
Payments	(145)	(160)
Other - non cash	0	2
Ending balance	26	70
Transformational cost management program \| Information technology transformation and other exit costs
Restructuring Reserve [Roll Forward]
Beginning balance	22	27
Costs	70	51
Payments	(62)	(55)
Other - non cash	(28)	0
Ending balance	$ 2	$ 22

Goodwill and other intangible assets - schedule of finite-lived intangible assets by major class (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	$ 10,745	$ 10,767
Total accumulated amortization	3,379	2,609
Total amortizable intangible assets, net	7,367	8,158
Total indefinite-lived intangible assets	5,607	5,477
Total intangible assets, net	12,973	13,635
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets	4,759	4,650
Pharmacy licenses
Finite-Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets	848	828
Customer relationships and loyalty card holders
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	4,868	4,658
Total accumulated amortization	2,127	1,784
Primary Care Provider Network
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	2,957	3,202
Total accumulated amortization	411	233
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	2,294	2,300
Total accumulated amortization	558	401
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	469	469
Total accumulated amortization	221	143
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Total gross amortizable intangible assets	156	137
Total accumulated amortization	$ 62	$ 48

Leases

12 Months Ended

Aug. 31, 2024

Leases [Abstract]

Leases

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


Balance sheet supplemental information:	August 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	20,335	$	21,667

Operating lease obligations - current	$	2,382	$	2,347
Operating lease obligations - non-current	20,921		22,124
Total operating lease obligations	$	23,303	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	680	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	74	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	991	$	976

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


Statement of earnings supplemental information:	2024		2023		2022
Operating lease cost
Fixed	$	3,473	$	3,404	$	3,240
Variable 1	909		850		825
Finance lease cost
Amortization	$	68	$	47	$	44
Interest	53		51		50

Sublease income 2	$	111	$	115	$	105
Impairment of right-of-use assets	526		495		218


Gains on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	295	$	747	$	558
International 3	—		178		61
Total gain on sale-leaseback 2	$	295	$	925	$	619

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 Statements of Earnings.

3Includes gain on sale-leaseback related to the Germany wholesale business of $178 million for fiscal 2023, and $61 million for Boots UK for fiscal 2022. The gain for fiscal 2023 includes $47 million related to the optimization of the Germany warehouse locations as part of acquisition integration activities.

Other supplemental information was as follows (in millions):


Other supplemental information:	2024		2023		2022
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	3,684	$	3,579	$	3,351
Operating cash flows from finance leases	51		47		47
Financing cash flows from finance leases	71		52		43
Total	$	3,807	$	3,679	$	3,441

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,457	$	2,323	$	2,078
Finance leases	80		30		11
Total	$	1,536	$	2,352	$	2,089

Weighted average lease term and discount rate for real estate leases as of August 31, 2024 were as follows:


Weighted average lease terms and discount rates:	August 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.2		9.6
Finance leases	17.6		17.4

Weighted average discount rate
Operating leases	5.60	%	5.35	%
Finance leases	5.18	%	5.25	%

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


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2

2025	$	128	$	3,668
2026	123		3,599
2027	121		3,519
2028	99		3,383
2029	88		3,162
Later	892		12,792
Total undiscounted minimum lease payments	$	1,451	$	30,123
Less: Present value discount	460		6,820
Lease liability	$	991	$	23,303

1.Total undiscounted minimum lease payments include approximately $3.5 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 $592 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:	August 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	20,335	$	21,667

Operating lease obligations - current	$	2,382	$	2,347
Operating lease obligations - non-current	20,921		22,124
Total operating lease obligations	$	23,303	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	680	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	74	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	991	$	976

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


Statement of earnings supplemental information:	2024		2023		2022
Operating lease cost
Fixed	$	3,473	$	3,404	$	3,240
Variable 1	909		850		825
Finance lease cost
Amortization	$	68	$	47	$	44
Interest	53		51		50

Sublease income 2	$	111	$	115	$	105
Impairment of right-of-use assets	526		495		218


Gains on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	295	$	747	$	558
International 3	—		178		61
Total gain on sale-leaseback 2	$	295	$	925	$	619

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 Statements of Earnings.

Other supplemental information was as follows (in millions):


Other supplemental information:	2024		2023		2022
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	3,684	$	3,579	$	3,351
Operating cash flows from finance leases	51		47		47
Financing cash flows from finance leases	71		52		43
Total	$	3,807	$	3,679	$	3,441

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,457	$	2,323	$	2,078
Finance leases	80		30		11
Total	$	1,536	$	2,352	$	2,089

Weighted average lease term and discount rate for real estate leases as of August 31, 2024 were as follows:


Weighted average lease terms and discount rates:	August 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.2		9.6
Finance leases	17.6		17.4

Weighted average discount rate
Operating leases	5.60	%	5.35	%
Finance leases	5.18	%	5.25	%

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


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2

2025	$	128	$	3,668
2026	123		3,599
2027	121		3,519
2028	99		3,383
2029	88		3,162
Later	892		12,792
Total undiscounted minimum lease payments	$	1,451	$	30,123
Less: Present value discount	460		6,820
Lease liability	$	991	$	23,303

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $592 million due to the Company under non-cancelable sublease terms.

Subsequent events	12 Months Ended
Subsequent events	Aug. 31, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events Footprint Optimization Program On October 14, 2024, the Company’s Board of Directors approved a plan to optimize its footprint and close underperforming stores, primarily within the Company’s U.S. Retail Pharmacy segment (the “Footprint Optimization Program”). The Footprint Optimization Program includes plans to close approximately 900 to 1,000 stores primarily across the U.S. Hurricane Helene and Milton In September and October 2024, Hurricane Helene and Hurricane Milton struck the Southeast region of the U.S. The Company has significant store locations in this region and these hurricanes have caused business disruptions, including store closures in the affected areas. The Company is assessing the extent of the damage resulting from these hurricanes

Summary of major accounting policies - property plant and equipment (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Property, Plant and Equipment [Line Items]
Finance lease properties	$ 1,143	$ 1,075
Property, plant, and equipment and finance lease right-of-use asset, before accumulated depreciation and amortization	22,636	24,540
Property, plant, and equipment and finance lease right-of-use asset, accumulated depreciation and amortization	12,863	12,953
Property and equipment, net	$ 9,772	11,587
Land and land improvements 1
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Property and equipment	$ 1,455	1,778
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 6,117	6,683
Buildings and building improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Buildings and building improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	50 years
Fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 9,720	9,782
Fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Capitalized system development costs and software
Property, Plant and Equipment [Line Items]
Property and equipment	$ 3,528	3,821
Capitalized system development costs and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Capitalized system development costs and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Asset under construction
Property, Plant and Equipment [Line Items]
Property and equipment	$ 673	$ 1,400

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Aug. 31, 2024	Oct. 08, 2024	Feb. 29, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2024
Current Fiscal Year End Date	--08-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 15.2
Entity Common Stock, Shares Outstanding (in shares)		864,617,130
Documents Incorporated by Reference	Portions of the definitive proxy statement for our Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year ended August 31, 2024 are incorporated by reference into Part III of this Form 10-K as indicated herein.
Entity Central Index Key	0001618921
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
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

Summary of major accounting policies - variable interest entities (Details) - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 81,037	$ 96,628
Liabilities	68,858	68,140
Variable interest entity, primary beneficiary
Variable Interest Entity [Line Items]
Assets	928	881
Liabilities	$ 540	$ 486

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25

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(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 30: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

- Definition

Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.

+ 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
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(26))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(14))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

- 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 + Details

Fair value measurements (Tables)

12 Months Ended

Aug. 31, 2024

Fair Value Disclosures [Abstract]

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):


	August 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds 1	$	1,790	$	1,790	$	—	$	—
Cross currency interest rate swaps 2	6		—		6		—
Foreign currency forwards 3	3		—		3		—
Investments in equity securities 4	19		19		—		—
Investment in debt securities 5	98		—		98		—
Total return swaps	11		—		11		—
Liabilities:
Variable prepaid forward 6	$	3,919	$	—	$	—	$	3,919
Foreign currency forwards 3	67		—		67		—
Cross currency interest rate swaps 2	5		—		5		—


	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		—

1.Money market funds are valued at the closing price reported by the fund sponsor and classified as Marketable securities on the Consolidated Balance Sheets.

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

5.Includes investments in Treasury debt securities.

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


	2024		2023
Opening balance	$	(2,548)	$	—
VPF derivative additions	(424)		(2,568)
Unrealized (losses) gains recorded in Other income, net	(946)		19
Ending balance	$	(3,919)	$	(2,548)

Leases (Tables)

12 Months Ended

Aug. 31, 2024

Leases [Abstract]

Schedule of supplemental balance sheet information

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


Balance sheet supplemental information:	August 31, 2024		August 31, 2023
Operating leases:
Operating lease right-of-use assets	$	20,335	$	21,667

Operating lease obligations - current	$	2,382	$	2,347
Operating lease obligations - non-current	20,921		22,124
Total operating lease obligations	$	23,303	$	24,472

Finance leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	680	$	678

Lease obligations included in:
Accrued expenses and other liabilities	$	74	$	57
Other non-current liabilities	917		919
Total finance lease obligations	$	991	$	976

Schedule of supplemental income statement and other information

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


Statement of earnings supplemental information:	2024		2023		2022
Operating lease cost
Fixed	$	3,473	$	3,404	$	3,240
Variable 1	909		850		825
Finance lease cost
Amortization	$	68	$	47	$	44
Interest	53		51		50

Sublease income 2	$	111	$	115	$	105
Impairment of right-of-use assets	526		495		218


Gains on sale-leaseback transactions 2
U.S. Retail Pharmacy	$	295	$	747	$	558
International 3	—		178		61
Total gain on sale-leaseback 2	$	295	$	925	$	619

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 Statements of Earnings.

Other supplemental information was as follows (in millions):


Other supplemental information:	2024		2023		2022
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	3,684	$	3,579	$	3,351
Operating cash flows from finance leases	51		47		47
Financing cash flows from finance leases	71		52		43
Total	$	3,807	$	3,679	$	3,441

Right-of-use assets obtained in exchange for new lease obligations
Operating leases	$	1,457	$	2,323	$	2,078
Finance leases	80		30		11
Total	$	1,536	$	2,352	$	2,089

Weighted average lease term and discount rate for real estate leases as of August 31, 2024 were as follows:


Weighted average lease terms and discount rates:	August 31, 2024		August 31, 2023
Weighted average remaining lease term in years
Operating leases	9.2		9.6
Finance leases	17.6		17.4

Weighted average discount rate
Operating leases	5.60	%	5.35	%
Finance leases	5.18	%	5.25	%

Schedule of future lease payments under operating leases

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


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2

2025	$	128	$	3,668
2026	123		3,599
2027	121		3,519
2028	99		3,383
2029	88		3,162
Later	892		12,792
Total undiscounted minimum lease payments	$	1,451	$	30,123
Less: Present value discount	460		6,820
Lease liability	$	991	$	23,303

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $592 million due to the Company under non-cancelable sublease terms.

Schedule of future lease payments under finance leases

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


Future lease payments (fiscal years):	Finance lease		Operating lease 1,2

2025	$	128	$	3,668
2026	123		3,599
2027	121		3,519
2028	99		3,383
2029	88		3,162
Later	892		12,792
Total undiscounted minimum lease payments	$	1,451	$	30,123
Less: Present value discount	460		6,820
Lease liability	$	991	$	23,303

2.Total undiscounted minimum lease payments exclude sublease rental income of approximately $592 million due to the Company under non-cancelable sublease terms.

Leases - other supplemental information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$ 3,684	$ 3,579	$ 3,351
Operating cash flows from finance leases	51	47	47
Financing cash flows from finance leases	71	52	43
Total	3,807	3,679	3,441
Right-of-use assets obtained in exchange for new lease obligations
Operating leases	1,457	2,323	2,078
Finance leases	80	30	11
Total	$ 1,536	$ 2,352	$ 2,089

Retirement benefits - accumulated other comprehensive income (Details) - Pension Plan - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 262	$ 730	$ (251)
Prior service cost	(273)	(1)	(1)
Total pre-tax comprehensive loss (income)	$ (11)	$ 729	$ (252)

Debt

12 Months Ended

Aug. 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):


	August 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	1,157		—
Other 2	58		68
Total short-term debt	$	1,505	$	917


Long-term debt
Credit facilities 1

November 2021 DDTL due November 2024	$	—	$	289
December 2022 DDTL due January 2026	1,000		999
August 2023 DDTL due November 2026	1,000		—




$1.5 billion note issuance 1
3.200% unsecured notes due 2030	498		498
4.100% unsecured notes due 2050	635		793
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,445		1,444
4.650% unsecured notes due 2046	295		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	657		869
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025	391		381
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	833		814
$4 billion note issuance 3
4.400% unsecured notes due 2042	236		263
$750 million note issuance 1
8.125% unsecured notes due 2029	740		—
Other 2	13		20
Total long-term debt, less current portion	$	8,044	$	8,145

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

3.Notes are senior debt obligations of Walgreen Co.


	Amount
2025	$	1,505
2026	2,838
2027	1,835
2028	1
2029	751
Later	2,651
Total estimated future maturities	$	9,581

$750 million Note Issuance

On August 12, 2024, the Company issued, in an underwritten public offering, $750 million of 8.125% notes due 2029. The notes contain a call option which allows for the notes to be repaid, in full or in part, at 104%, 102% and 100% of the principal amount of the notes to be redeemed, in each case plus accrued and unpaid interest at August 15, 2026, August 15, 2027 and August 15, 2028 respectively.

$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 that 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 Standard and Poor (“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 August 31, 2024, there were no 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 August 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 August 31, 2024, there was $1.0 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 Moody’s or S&P and ranges from 80 basis points to 150 basis points over specified benchmark rates for eurocurrency rate and 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 August 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 August 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 August 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 August 31, 2024 and 2023, the Company had no borrowings outstanding under the commercial paper program.

Interest

Interest paid by the Company was $578 million, $606 million and $420 million in fiscal 2024, 2023 and 2022, respectively.

In fiscal 2024, the Company recognized a gain of $102 million related to the early extinguishment of debt within Interest expense, net in the Consolidated Statements of Earnings. The cash payments related to the early extinguishment of debt are classified as cash outflows from financing activities in the Consolidated Statements of Cash Flows.

Credit ratings

In fiscal 2024, the Company’s long-term ratings were downgraded below investment grade to BB with a negative outlook by Standard and Poor’s and Ba3 with a stable outlook by Moody’s (with respect to the Company’s Corporate Family Rating). 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, has and may continue to increase the cost of new financing for the Company, and may decrease access to credit and debt capital markets. As of August 31, 2024, the Company had an aggregate borrowing capacity under committed revolving credit facilities of $5.8 billion, with no 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
-SubTopic 20
-Name Accounting Standards Codification
-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
-SubTopic 20
-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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

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

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

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

+ Details

Acquisitions and other Investments - pro forma information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Business Acquisition [Line Items]
Pro forma sales		$ 134,314
Sales, actual		1,795
Summit Heath-CityMD
Business Acquisition [Line Items]
Pro forma sales	$ 140,039	$ 135,379
Sales, actual	$ 1,896

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 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 STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Common stock	Treasury stock	Paid-in capital	Accumulated other comprehensive loss	Retained earnings	Non-controlling interests
Beginning balance (in shares) at Aug. 31, 2021		865,373,636
Beginning balance at Aug. 31, 2021	$ 23,822	$ 12	$ (20,593)	$ 10,988	$ (2,109)	$ 35,121	$ 402
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	4,138					4,337	(199)
Other comprehensive income, net of tax	(728)				(696)		(32)
Dividends declared and distributions	(1,664)					(1,657)	(7)
Treasury stock purchases (in shares)		(3,910,000)
Treasury stock purchases	(187)		(187)
Employee stock purchase and option plans (in shares)		3,175,821
Employee stock purchase and option plans	27		97	(70)
Stock-based compensation	228			133			95
Acquisition of non-controlling interests	(44)			74			(118)
Business combination	3,944						3,944
Redeemable non-controlling interests redemption price adjustments and other	(170)			(175)			5
Ending balance (in shares) at Aug. 31, 2022		864,639,457
Ending 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)	(3,507)					(3,080)	(427)
Other comprehensive income, net of tax	(176)				(189)		13
Dividends declared and distributions	(1,714)					(1,663)	(51)
Treasury stock purchases (in shares)		(4,438,228)
Treasury stock purchases	(150)		(150)
Employee stock purchase and option plans (in shares)		3,472,557
Employee stock purchase and option plans	45		116	(71)
Stock-based compensation	191			58			133
Acquisition of non-controlling interests	184			171			13
Business combination	4,518			(16)			4,534
Redeemable non-controlling interests redemption price adjustments and other	(435)			(431)			(4)
Ending balance (in shares) at Aug. 31, 2023		863,673,786
Ending 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)	(15,449)					(8,636)	(6,813)
Other comprehensive income, net of tax	100				96		4
Dividends declared and distributions	(1,081)					(1,074)	(7)
Treasury stock purchases (in shares)		(3,100,000)
Treasury stock purchases	(69)		(69)
Employee stock purchase and option plans (in shares)		3,426,647
Employee stock purchase and option plans	25		124	(100)
Stock-based compensation	160			73			87
Redeemable non-controlling interests redemption price adjustments and other	(1)			11			(13)
Ending balance (in shares) at Aug. 31, 2024		864,000,433
Ending balance at Aug. 31, 2024	$ 12,005	$ 12	$ (20,662)	$ 10,645	$ (2,897)	$ 23,348	$ 1,561

Summary of major accounting policies - narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								6 Months Ended	12 Months Ended
	Aug. 31, 2024 USD ($) $ / shares shares	May 31, 2024 $ / shares	Feb. 29, 2024 $ / shares	Nov. 30, 2023 $ / shares	Aug. 31, 2023 USD ($) $ / shares shares	May 31, 2023 $ / shares	Feb. 28, 2023 $ / shares	Nov. 30, 2022 $ / shares	Feb. 28, 2022 USD ($)	Aug. 31, 2024 USD ($) segment $ / shares shares	Aug. 31, 2023 USD ($) $ / shares shares	Aug. 31, 2022 USD ($) shares
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of reportable segments \| segment										3
Minimum number of days for settlement of credit and debit charges										1 day
Maximum number of days for settlement of credit and debit charges										7 days
Credit and debit card receivables	$ 235				$ 122					$ 235	$ 122
Other cash flows from operating activities										(242)	(173)	$ 99
Gain on termination of lease										131
Gain on reclassification of equity method investment to equity security											83
Proceeds from Equity Method Investment, Distribution												46
Equity earnings (loss)										230	286	468
Allowance for doubtful accounts	110				110					110	110
Inventories	$ 8,320				$ 8,257					8,320	8,257
Depreciation and amortization expense										$ 1,500	1,400	1,400
Term of renewal contract	5 years									5 years
Advertising expense										$ 694	$ 775	$ 862
Expected performance goal achievement rate										100.00%
Dividends declared (in dollars per share) \| $ / shares	$ 0.2500	$ 0.2500	$ 0.2500	$ 0.4800	$ 0.4800	$ 0.4800	$ 0.4800	$ 0.4800		$ 1.2300	$ 1.9200
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 4,800				$ 4,300					$ 4,800	$ 4,300
Other Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	1,000				$ 1,100					$ 1,000	$ 1,100
Potentially Dilutive Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding options to purchase common shares excluded from earnings per share calculations (in shares) \| shares										7.5	3.0
Share-Based Payment Arrangement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding options to purchase common shares excluded from earnings per share calculations (in shares) \| shares										14.1	17.8	17.1
Guoda
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment of equity method investments and investments in equity and debt securities									$ 124	$ 364
VillageMD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate liquidation preference	$ 4,900									$ 4,900
VillageMD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-controlling interests, preferred units (in shares) \| shares	16.0				16.0					16.0	16.0
Non-controlling interests, common units (in shares) \| shares	6.7				6.5					6.7	6.5
Dividend rate	5.50%									5.50%
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of lease	10 years									10 years
Highly effective hedging percentage	80.00%									80.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of lease	25 years									25 years
Highly effective hedging percentage	125.00%									125.00%
Capitalized system development costs and software
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of capitalized system development costs and software										$ 414	$ 371	$ 307
Unamortized capitalized software costs	$ 1,400				$ 1,500					1,400	1,500
Impairment of definite-lived assets										455
Selling, general and administrative expense
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment of definite-lived assets										1,700	863	$ 380
U.S. Retail Pharmacy \| Reportable Segments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Inventories	6,300				6,200					6,300	6,200
LIFO reserve	3,700				3,600					3,700	3,600
International \| Reportable Segments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Inventories	$ 2,000				$ 2,000					$ 2,000	$ 2,000

Accumulated other comprehensive loss

12 Months Ended

Aug. 31, 2024

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

Accumulated other comprehensive loss

The following is a summary of net changes in accumulated other comprehensive loss (“AOCI”) by component and net of tax for fiscal 2024, 2023 and 2022 (in millions):


	Pension/post-retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges (loss) gain		Unrealized gain (loss) on available for sale debt securities		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2021	$	(359)	$	(10)	$	(35)	$	96	$	(29)	$	(1,772)	$	(2,109)
Other comprehensive income (loss) before reclassification adjustments	278		6		327		451		(326)		(833)		(97)
Amounts reclassified from AOCI	(22)		3		—		(577)		31		—		(565)

Other	(6)		—		—		—		—		—		(6)
Tax (provision) benefit	(48)		(2)		(79)		32		70		—		(27)
Net change in other comprehensive income (loss)	203		7		248		(95)		(226)		(833)		(696)
Balance at August 31, 2022	$	(157)	$	(3)	$	213	$	1	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	(705)		(7)		(172)		(2)		6		379		(500)
Amounts reclassified from AOCI	(26)		4		—		—		158		(14)		121

Tax benefit (provision)	190		—		42		1		(42)		—		190
Net change in other comprehensive (loss) income	(541)		(2)		(130)		(2)		122		364		(189)
Balance at August 31, 2023	$	(698)	$	(5)	$	83	$	—	$	(132)	$	(2,240)	$	(2,993)
Other comprehensive income (loss) before reclassification adjustments	14		—		(65)		—		(6)		124		68
Amounts reclassified from AOCI	(14)		8		(4)		—		63		(2)		51
Tax (provision) benefit	(8)		(3)		1		1		(13)		—		(23)
Net change in other comprehensive (loss) income	(8)		5		(68)		1		45		122		96
Balance at August 31, 2024	$	(706)	$	(1)	$	15	$	—	$	(88)	$	(2,118)	$	(2,897)

Retirement benefits - components of net periodic pension costs (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income, net	Other income, net	Other income, net
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	Other income, net
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service costs (Selling, general and administrative expenses)	$ 4	$ 4	$ 5
Interest costs (Other income, net)	276	264	149
Expected returns on plan assets/other (Other income, net)	(284)	(340)	(280)
Total net periodic pension income	(4)	(72)	(126)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	262	730	(251)
Prior service cost	(273)	(1)	(1)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	$ (11)	$ 729	$ (252)

Retirement benefits - fair value hierarchy (Details) - Pension Plan - USD ($) $ in Millions	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	$ 5,994	$ 5,594	$ 6,603
Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	7	2,354
Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	419	2,012
Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	5,568	1,228
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		264
Equity securities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		0
Equity securities \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		264
Equity securities \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		0
Fixed interest government bonds
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		1,044
Fixed interest government bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		848
Fixed interest government bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		196
Fixed interest government bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		0
Index linked government bonds
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		1,364
Index linked government bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		1,364
Index linked government bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		0
Index linked government bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value		0
Annuity policies, less deferred premium 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	5,487
Annuity policies, less deferred premium 1 \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0
Annuity policies, less deferred premium 1 \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0
Annuity policies, less deferred premium 1 \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	5,487	48
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	10	1,214
Corporate bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0	0
Corporate bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	10	1,214
Corporate bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0	0
Real estate 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	81	466
Real estate 2 \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0	0
Real estate 2 \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	0	0
Real estate 2 \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	81	466
Other investments, net
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	416	1,242
Other investments, net \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	7	142
Other investments, net \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	409	338
Other investments, net \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Amount of defined benefit pension plan assets investment of fair market value	$ 0	$ 761