XML 32 R21.htm IDEA: XBRL DOCUMENT v3.24.2
Business Segment Information
 9 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
    The Company is organized geographically based upon the products and services it provides to its customers and reports its results under two reportable segments: U.S. Healthcare Solutions and International Healthcare Solutions.
The following illustrates reportable and operating segment disaggregated revenue as required by Accounting Standards Codification 606, "Revenue from Contracts with Customer," for the periods indicated:
Three months ended
June 30,		Nine months ended
June 30,
(in thousands)2024202320242023
U.S. Healthcare Solutions:
Human Health$65,821,863 $58,583,385 $189,704,387 $169,113,962 
Animal Health1,369,735 1,316,814 3,963,910 3,716,272 
Total U.S. Healthcare Solutions67,191,598 59,900,199 193,668,297 172,830,234 
International Healthcare Solutions:
Alliance Healthcare5,641,912 5,698,635 17,122,456 16,720,262 
Other Healthcare Solutions1,409,964 1,349,142 4,123,032 3,703,728 
Total International Healthcare Solutions7,051,876 7,047,777 21,245,488 20,423,990 
Intersegment eliminations(2,121)(933)(5,292)(3,144)
Revenue$74,241,353 $66,947,043 $214,908,493 $193,251,080 
The following illustrates reportable segment operating income information for the periods indicated:
Three months ended
June 30,		Nine months ended
June 30,
(in thousands)2024202320242023
U.S. Healthcare Solutions$698,305 $635,176 $2,237,493 $1,963,729 
International Healthcare Solutions179,391 187,132 559,706 524,405 
Total segment operating income$877,696 $822,308 $2,797,199 $2,488,134 
The following reconciles total segment operating income to income before income taxes for the periods indicated:
Three months ended
June 30,		Nine months ended
June 30,
(in thousands)2024202320242023
Total segment operating income$877,696 $822,308 $2,797,199 $2,488,134 
Gains from antitrust litigation settlements51,605 118,611 108,567 168,510 
LIFO (expense) credit(6,839)(34,952)64,441 (114,272)
Turkey highly inflationary impact(3,636)(50,580)(43,915)(59,019)
Acquisition-related intangibles amortization(163,850)(169,154)(494,373)(381,146)
Litigation and opioid-related (expenses) credit, net(14,485)67,102 (161,553)38,583 
Acquisition-related deal and integration expenses(25,758)(19,283)(69,431)(99,392)
Restructuring and other expenses(42,257)(63,924)(152,325)(177,608)
Operating income672,476 670,128 2,048,610 1,863,790 
Other loss (income), net12,814 3,436 33,790 (18,612)
Interest expense, net31,328 57,864 136,022 167,989 
Income before income taxes$628,334 $608,828 $1,878,798 $1,714,413 
Segment operating income is evaluated by the Chief Operating Decision Maker of the Company before gains from antitrust litigation settlements; LIFO (expense) credit; Turkey highly inflationary impact; acquisition-related intangibles amortization; litigation and opioid-related (expenses) credit, net; acquisition-related deal and integration expenses; and restructuring and other expenses. All corporate office expenses are allocated to the operating segment level.
Litigation and opioid-related (expenses) credit, net in the nine months ended June 30, 2024 includes a $214.0 million litigation accrual for ongoing litigation related to the distribution of prescription opioid medications (see Note 10). The nine-month period ended June 30, 2024 also includes a net $92.2 million opioid litigation settlement accrual reduction primarily as a result of the Company's prepayment of the net present value of a future obligation as permitted under its settlement agreements.
Litigation and opioid-related (expenses) credit, net in the three and nine months ended June 30, 2023 includes the receipt of $83.4 million from the H.D. Smith opioid litigation indemnity escrow.