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As Of Filer Filing For·On·As Docs:Size 3/28/24 Walgreens Boots Alliance, Inc. 10-Q 2/29/24 97:12M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 2.49M 2: EX-10.1 Material Contract HTML 38K 3: EX-31.1 Certification -- §302 - SOA'02 HTML 30K 4: EX-31.2 Certification -- §302 - SOA'02 HTML 30K 5: EX-32.1 Certification -- §906 - SOA'02 HTML 26K 6: EX-32.2 Certification -- §906 - SOA'02 HTML 26K 12: R1 Cover Page HTML 84K 13: R2 Consolidated Condensed Balance Sheets HTML 182K 14: R3 Consolidated Condensed Balance Sheets HTML 42K (Parenthetical) 15: R4 Consolidated Condensed Statements of Equity HTML 96K 16: R5 Consolidated Condensed Statements of Earnings HTML 120K 17: R6 Consolidated Condensed Statements of Comprehensive HTML 69K Income 18: R7 Consolidated Condensed Statements of Cash Flows HTML 132K 19: R8 Accounting policies HTML 38K 20: R9 Acquisitions and other Investments HTML 57K 21: R10 Exit and disposal activities HTML 120K 22: R11 Leases HTML 194K 23: R12 Equity method investments HTML 42K 24: R13 Goodwill and other intangible assets HTML 82K 25: R14 Debt HTML 81K 26: R15 Financial instruments HTML 86K 27: R16 Fair value measurements HTML 91K 28: R17 Commitments and contingencies HTML 58K 29: R18 Income taxes HTML 34K 30: R19 Retirement benefits HTML 48K 31: R20 Accumulated other comprehensive income (Loss) HTML 118K 32: R21 Segment reporting HTML 92K 33: R22 Sales HTML 59K 34: R23 Related parties HTML 40K 35: R24 New accounting pronouncements HTML 38K 36: R25 Supplemental information HTML 73K 37: R26 Pay vs Performance Disclosure HTML 38K 38: R27 Insider Trading Arrangements HTML 32K 39: R28 Accounting policies (Policies) HTML 40K 40: R29 Acquisitions and other Investments (Tables) HTML 54K 41: R30 Exit and disposal activities (Tables) HTML 117K 42: R31 Leases (Tables) HTML 130K 43: R32 Equity method investments (Tables) HTML 37K 44: R33 Goodwill and other intangible assets (Tables) HTML 85K 45: R34 Debt (Tables) HTML 107K 46: R35 Financial instruments (Tables) HTML 86K 47: R36 Fair value measurements (Tables) HTML 90K 48: R37 Retirement benefits (Tables) HTML 42K 49: R38 Accumulated other comprehensive income (Loss) HTML 118K (Tables) 50: R39 Segment reporting (Tables) HTML 84K 51: R40 Sales (Tables) HTML 56K 52: R41 Related parties (Tables) HTML 36K 53: R42 Supplemental information (Tables) HTML 76K 54: R43 Acquisitions and other Investments - 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Schedule of Equity HTML 44K Method Investments (Details) 67: R56 Equity method investments - Narrative (Details) HTML 58K 68: R57 Goodwill and other intangible assets - Narrative HTML 44K (Details) 69: R58 Goodwill and other intangible assets - Schedule of HTML 52K Goodwill (Details) 70: R59 Goodwill and other intangible assets - Schedule of HTML 55K Finite-Lived Intangible Assets by Major Class (Details) 71: R60 Goodwill and other intangible assets - Schedule of HTML 39K Finite-Lived Intangible Assets, Future Amortization Expense (Details) 72: R61 Debt - Short and Long-Term Debt (Details) HTML 118K 73: R62 Debt - Narrative (Details) HTML 136K 74: R63 Financial instruments - Summary of Derivative HTML 65K Instruments (Details) 75: R64 Financial instruments - Summary of Variable HTML 50K Prepaid Forward Transactions (Details) 76: R65 Financial instruments - Summary of Derivative HTML 38K Income and Expenses Due to Fair Value Changes (Details) 77: R66 Fair value measurements- Summary of Fair Value HTML 87K Measurements (Details) 78: R67 Fair value measurements- Additional Information HTML 49K (Details) 79: R68 Fair value measurements - 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wba-20240229 |
i ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Delaware | i 47-1758322 | ||||
(State or Other Jurisdiction of Incorporation
or Organization) | (I.R.S. Employer Identification No.) | ||||
i 108 Wilmot Road, i Deerfield, i Illinois | i 60015 | ||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
i Common Stock, $0.01 par value | i WBA | i The NASDAQ Stock Market LLC | ||||||
i 3.600% Walgreens Boots Alliance, Inc. notes due 2025 | i WBA25 | i The NASDAQ Stock Market LLC | ||||||
i 2.125% Walgreens Boots Alliance, Inc. notes due 2026 | i WBA26 | i The NASDAQ Stock Market LLC | ||||||
i Large accelerated filer þ | Accelerated filer ☐ | ||||
Non-accelerated
filer ☐ | Smaller reporting company i ☐ | ||||
Emerging growth company i ☐ |
WBA Q2 2024 Form 10-Q |
Item 1. | ||||||||||||||
a) | ||||||||||||||
b) | ||||||||||||||
c) | ||||||||||||||
d) | ||||||||||||||
e) | ||||||||||||||
f) | ||||||||||||||
Item 2. | ||||||||||||||
a) | ||||||||||||||
b) | ||||||||||||||
c) | ||||||||||||||
d) | ||||||||||||||
e) | ||||||||||||||
f) | ||||||||||||||
g) | ||||||||||||||
h) | ||||||||||||||
i) | ||||||||||||||
j) | ||||||||||||||
k) | ||||||||||||||
Item 3. | ||||||||||||||
Item 4. |
Item 1. | |||||||||||
Item 1A. | |||||||||||
Item 2. | |||||||||||
Item 5. | |||||||||||
Item 6. | |||||||||||
February 29, 2024 | August 31, 2023 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | i 668 | $ | i 739 | |||||||
Accounts receivable, net | i 6,200 | i 5,381 | |||||||||
Inventories | i 8,557 | i 8,257 | |||||||||
Other current assets | i 1,136 | i 1,127 | |||||||||
Total current assets | i 16,561 | i 15,503 | |||||||||
Non-current assets: | |||||||||||
Property, plant and equipment, net | i 10,121 | i 11,587 | |||||||||
Operating lease right-of-use assets | i 21,342 | i 21,667 | |||||||||
Goodwill | i 15,814 | i 28,187 | |||||||||
Intangible assets, net | i 12,984 | i 13,635 | |||||||||
Equity method investments (see Note 5) | i 3,256 | i 3,497 | |||||||||
Other non-current assets | i 4,128 | i 2,550 | |||||||||
Total non-current assets | i 67,646 | i 81,125 | |||||||||
Total assets | $ | i 84,207 | $ | i 96,628 | |||||||
Liabilities, redeemable non-controlling interests and equity | |||||||||||
Current liabilities: | |||||||||||
Short-term debt | $ | i 1,937 | $ | i 917 | |||||||
Trade accounts payable (see Note 16) | i 12,775 | i 12,635 | |||||||||
Operating lease obligations | i 2,339 | i 2,347 | |||||||||
Accrued expenses and other liabilities | i 7,522 | i 8,426 | |||||||||
Income taxes | i 342 | i 209 | |||||||||
Total current liabilities | i 24,915 | i 24,535 | |||||||||
Non-current liabilities: | |||||||||||
Long-term debt | i 7,535 | i 8,145 | |||||||||
Operating lease obligations | i 21,812 | i 22,124 | |||||||||
Deferred income taxes | i 1,238 | i 1,318 | |||||||||
Accrued litigation obligations | i 6,123 | i 6,261 | |||||||||
Other non-current liabilities | i 7,220 | i 5,757 | |||||||||
Total non-current liabilities | i 43,928 | i 43,605 | |||||||||
Commitments and contingencies (see Note 10) | i | i | |||||||||
Total liabilities | i 68,843 | i 68,140 | |||||||||
Redeemable non-controlling interests | i 172 | i 167 | |||||||||
Equity: | |||||||||||
Preferred
stock $ i i .01 / par value; authorized i i 32 /
million shares, i i none / issued | i — | i — | |||||||||
Common
stock $ i i .01 / par value; authorized i i 3.2 /
billion shares; issued i i 1,172,513,618 / at February 29, 2024 and August
31, 2023 | i 12 | i 12 | |||||||||
Paid-in capital | i 10,627 | i 10,661 | |||||||||
Retained earnings | i 26,448 | i 33,058 | |||||||||
Accumulated other comprehensive loss | ( i 2,897) | ( i 2,993) | |||||||||
Treasury
stock, at cost; i 309,800,252 shares at February 29, 2024 and i 308,839,832 shares at August 31, 2023 | ( i 20,705) | ( i 20,717) | |||||||||
Total Walgreens Boots Alliance, Inc. shareholders’ equity | i 13,484 | i 20,020 | |||||||||
Non-controlling interests | i 1,708 | i 8,302 | |||||||||
Total equity | i 15,192 | i 28,322 | |||||||||
Total liabilities, redeemable non-controlling interests and equity | $ | i 84,207 | $ | i 96,628 |
WBA Q2 2024 Form 10-Q | 1 |
Three months ended February 29, 2024 | ||||||||||||||||||||||||||
Equity attributable to Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||
Common stock shares | Common stock amount | Treasury stock amount | Paid-in capital | Accumulated other comprehensive loss | Retained earnings | Non-controlling interests | Total equity | |||||||||||||||||||
November 30, 2023 | i 862,166,970 | $ | i 12 | $ | ( i 20,725) | $ | i 10,617 | $ | ( i 2,995) | $ | i 32,573 | $ | i 8,107 | $ | i 27,588 | |||||||||||
Net loss | — | — | — | — | — | ( i 5,908) | ( i 6,416) | ( i 12,324) | ||||||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | i 99 | — | i 2 | i 100 | ||||||||||||||||||
Dividends declared and distributions | — | — | — | — | — | ( i 218) | ( i 7) | ( i 225) | ||||||||||||||||||
Employee stock purchase and option plans | i 546,396 | — | i 20 | ( i 10) | — | — | — | i 9 | ||||||||||||||||||
Stock-based compensation | — | — | — | i 19 | — | — | i 24 | i 43 | ||||||||||||||||||
Other | — | — | — | i 2 | — | — | ( i 2) | i — | ||||||||||||||||||
February 29, 2024 | i 862,713,366 | $ | i 12 | $ | ( i 20,705) | $ | i 10,627 | $ | ( i 2,897) | $ | i 26,448 | $ | i 1,708 | $ | i 15,192 |
Six months ended February 29, 2024 | ||||||||||||||||||||||||||
Equity attributable to Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||
Common stock shares | Common stock amount | Treasury stock amount | Paid-in capital | Accumulated other comprehensive loss | Retained earnings | Non-controlling interests | Total equity | |||||||||||||||||||
August 31, 2023 | i 863,673,786 | $ | i 12 | $ | ( i 20,717) | $ | i 10,661 | $ | ( i 2,993) | $ | i 33,058 | $ | i 8,302 | $ | i 28,322 | |||||||||||
Net loss | — | — | — | — | — | ( i 5,975) | ( i 6,627) | ( i 12,602) | ||||||||||||||||||
Other comprehensive income (loss), net of tax | — | — | — | — | i 96 | — | ( i 1) | i 95 | ||||||||||||||||||
Dividends declared and distributions | — | — | — | — | — | ( i 636) | ( i 7) | ( i 643) | ||||||||||||||||||
Treasury stock purchases | ( i 3,100,000) | — | ( i 69) | — | — | — | — | ( i 69) | ||||||||||||||||||
Employee stock purchase and option plans | i 2,139,580 | — | i 81 | ( i 74) | — | — | — | i 7 | ||||||||||||||||||
Stock-based compensation | — | — | — | i 34 | — | — | i 54 | i 88 | ||||||||||||||||||
Other | — | — | — | i 7 | — | — | ( i 13) | ( i 6) | ||||||||||||||||||
February 29, 2024 | i 862,713,366 | $ | i 12 | $ | ( i 20,705) | $ | i 10,627 | $ | ( i 2,897) | $ | i 26,448 | $ | i 1,708 | $ | i 15,192 |
WBA Q2 2024 Form 10-Q | 2 |
Three
months ended February 28, 2023 | ||||||||||||||||||||||||||
Equity attributable to Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||
Common stock shares | Common stock amount | Treasury stock amount | Paid-in capital | Accumulated other comprehensive loss | Retained earnings | Non-controlling interests | Total equity | |||||||||||||||||||
November 30, 2022 | i 862,342,235 | $ | i 12 | $ | ( i 20,762) | $ | i 10,477 | $ | ( i 2,815) | $ | i 33,664 | $ | i 4,006 | $ | i 24,582 | |||||||||||
Net earnings (loss) | — | — | — | — | — | i 703 | ( i 158) | i 545 | ||||||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | i 161 | — | i 2 | i 164 | ||||||||||||||||||
Dividends declared and distributions | — | — | — | — | — | ( i 416) | ( i 6) | ( i 422) | ||||||||||||||||||
Employee stock purchase and option plans | i 453,485 | — | i 15 | — | — | — | — | i 15 | ||||||||||||||||||
Stock-based compensation | — | — | — | i 23 | — | — | i 34 | i 57 | ||||||||||||||||||
Acquisition of non-controlling interests | — | — | — | i 171 | — | — | — | i 171 | ||||||||||||||||||
Business combination | — | — | — | ( i 43) | — | — | i 4,369 | i 4,325 | ||||||||||||||||||
Redeemable non-controlling interests redemption price adjustments and other | — | — | — | i 1 | — | — | — | i 1 | ||||||||||||||||||
February 28, 2023 | i 862,795,720 | $ | i 12 | $ | ( i 20,747) | $ | i 10,629 | $ | ( i 2,654) | $ | i 33,952 | $ | i 8,247 | $ | i 29,439 |
Six months ended February 28, 2023 | ||||||||||||||||||||||||||
Equity attributable to Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||
Common stock shares | Common stock amount | Treasury stock amount | Paid-in capital | Accumulated other comprehensive loss | Retained earnings | Non-controlling interests | Total equity | |||||||||||||||||||
August 31, 2022 | i 864,639,457 | $ | i 12 | $ | ( i 20,683) | $ | i 10,950 | $ | ( i 2,805) | $ | i 37,801 | $ | i 4,091 | $ | i 29,366 | |||||||||||
Net loss | — | — | — | — | — | ( i 3,018) | ( i 230) | ( i 3,248) | ||||||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | i 151 | — | i 3 | i 153 | ||||||||||||||||||
Dividends declared and distributions | — | — | — | — | — | ( i 831) | ( i 50) | ( i 881) | ||||||||||||||||||
Treasury stock purchases | ( i 4,438,228) | — | ( i 150) | — | — | — | — | ( i 150) | ||||||||||||||||||
Employee stock purchase and option plans | i 2,594,491 | — | i 86 | ( i 64) | — | — | — | i 22 | ||||||||||||||||||
Stock-based compensation | — | — | — | i 48 | — | — | i 64 | i 112 | ||||||||||||||||||
Acquisition of non-controlling interests | — | — | — | i 171 | — | — | — | i 171 | ||||||||||||||||||
Business combination | — | — | — | ( i 43) | — | — | i 4,369 | i 4,325 | ||||||||||||||||||
Redeemable non-controlling interests redemption price adjustments and other | — | — | — | ( i 432) | — | — | — | ( i 432) | ||||||||||||||||||
February 28, 2023 | i 862,795,720 | $ | i 12 | $ | ( i 20,747) | $ | i 10,629 | $ | ( i 2,654) | $ | i 33,952 | $ | i 8,247 | $ | i 29,439 |
WBA Q2 2024 Form 10-Q | 3 |
Three months ended | Six months ended | |||||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||
Sales | $ | i 37,052 | $ | i 34,862 | $ | i 73,760 | $ | i 68,244 | ||||||||||||||||||
Cost of sales | i 30,012 | i 27,807 | i 59,948 | i 54,236 | ||||||||||||||||||||||
Gross profit | i 7,041 | i 7,055 | i 13,811 | i 14,008 | ||||||||||||||||||||||
Selling, general and administrative expenses | i 7,921 | i 6,934 | i 14,772 | i 20,091 | ||||||||||||||||||||||
Impairment of goodwill | i 12,369 | i — | i 12,369 | i — | ||||||||||||||||||||||
Equity earnings in Cencora | i 79 | i 75 | i 120 | i 129 | ||||||||||||||||||||||
Operating (loss) income | ( i 13,171) | i 197 | ( i 13,209) | ( i 5,954) | ||||||||||||||||||||||
Other income (expense), net | i 195 | i 552 | ( i 25) | i 1,544 | ||||||||||||||||||||||
(Loss) earnings before interest and income tax (benefit) provision | ( i 12,976) | i 749 | ( i 13,235) | ( i 4,410) | ||||||||||||||||||||||
Interest expense, net | i 138 | i 141 | i 237 | i 252 | ||||||||||||||||||||||
(Loss) earnings before income tax (benefit) provision | ( i 13,114) | i 607 | ( i 13,472) | ( i 4,662) | ||||||||||||||||||||||
Income tax (benefit) provision | ( i 782) | i 70 | ( i 856) | ( i 1,377) | ||||||||||||||||||||||
Post-tax earnings from other equity method investments | i 10 | i 6 | i 16 | i 13 | ||||||||||||||||||||||
Net (loss) earnings | ( i 12,322) | i 544 | ( i 12,600) | ( i 3,272) | ||||||||||||||||||||||
Net loss attributable to non-controlling interests | ( i 6,415) | ( i 159) | ( i 6,625) | ( i 253) | ||||||||||||||||||||||
Net (loss) earnings attributable to Walgreens Boots Alliance, Inc. | $ | ( i 5,908) | $ | i 703 | $ | ( i 5,975) | $ | ( i 3,018) | ||||||||||||||||||
Net (loss) earnings per common share: | ||||||||||||||||||||||||||
Basic | $ | ( i 6.85) | $ | i 0.81 | $ | ( i 6.93) | $ | ( i 3.50) | ||||||||||||||||||
Diluted | $ | ( i 6.85) | $ | i 0.81 | $ | ( i 6.93) | $ | ( i 3.50) | ||||||||||||||||||
Weighted average common shares outstanding: | ||||||||||||||||||||||||||
Basic | i 862.5 | i 862.6 | i 862.8 | i 863.1 | ||||||||||||||||||||||
Diluted | i 862.5 | i 863.4 | i 862.8 | i 863.1 |
WBA Q2 2024 Form 10-Q | 4 |
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Net (loss) earnings | $ | ( i 12,322) | $ | i 544 | $ | ( i 12,600) | $ | ( i 3,272) | |||||||||||||||
Other comprehensive income, net of tax: | |||||||||||||||||||||||
Pension/post-retirement obligations | i 34 | ( i 5) | i 90 | ( i 10) | |||||||||||||||||||
Unrealized (loss) gain on cash flow hedges and other | i — | ( i 1) | i 5 | ( i 3) | |||||||||||||||||||
Net investment hedges (loss) gain | ( i 1) | ( i 43) | i 2 | ( i 73) | |||||||||||||||||||
Share of other comprehensive income of equity method investments | i 48 | i 88 | i 33 | i 92 | |||||||||||||||||||
Cumulative translation adjustments | i 19 | i 124 | ( i 35) | i 147 | |||||||||||||||||||
Total other comprehensive income | i 100 | i 164 | i 95 | i 153 | |||||||||||||||||||
Total comprehensive (loss) income | ( i 12,222) | i 707 | ( i 12,505) | ( i 3,118) | |||||||||||||||||||
Comprehensive loss attributable to non-controlling interests | ( i 6,413) | ( i 157) | ( i 6,626) | ( i 251) | |||||||||||||||||||
Comprehensive (loss) income attributable to Walgreens Boots Alliance, Inc. | $ | ( i 5,809) | $ | i 864 | $ | ( i 5,879) | $ | ( i 2,868) |
WBA Q2 2024 Form 10-Q | 5 |
Six months ended | |||||||||||
February 29, 2024 | February 28, 2023 | ||||||||||
Cash
flows from operating activities: | |||||||||||
Net loss | $ | ( i 12,600) | $ | ( i 3,272) | |||||||
Adjustments to reconcile net loss to net cash (used for) provided by operating activities: | |||||||||||
Depreciation and amortization | i 1,230 | i 1,055 | |||||||||
Deferred income taxes | ( i 1,331) | ( i 1,600) | |||||||||
Stock compensation expense | i 99 | i 293 | |||||||||
Earnings from equity method investments | ( i 137) | ( i 143) | |||||||||
Impairment of goodwill, intangibles and long-lived assets | i 13,589 | i 196 | |||||||||
Gain on sale of equity method investments | ( i 758) | ( i 1,512) | |||||||||
Gain on sale-leaseback transactions | ( i 258) | ( i 532) | |||||||||
Loss on variable prepaid forward contracts | i 888 | i — | |||||||||
Other | ( i 121) | ( i 39) | |||||||||
Changes in certain assets and liabilities: | |||||||||||
Accounts receivable, net | ( i 850) | ( i 221) | |||||||||
Inventories | ( i 279) | ( i 237) | |||||||||
Other current assets | i 53 | ( i 107) | |||||||||
Trade accounts payable | i 142 | i 1,279 | |||||||||
Accrued expenses and other liabilities | i 20 | ( i 684) | |||||||||
Income taxes | i 256 | i 92 | |||||||||
Accrued litigation obligations | ( i 391) | i 6,795 | |||||||||
Other non-current assets and liabilities | ( i 471) | ( i 125) | |||||||||
Net cash (used for) provided by operating activities | ( i 918) | i 1,239 | |||||||||
Cash
flows from investing activities: | |||||||||||
Additions to property, plant and equipment | ( i 858) | ( i 1,108) | |||||||||
Proceeds from sale-leaseback transactions | i 727 | i 942 | |||||||||
Proceeds from sale of other assets | i 1,311 | i 3,261 | |||||||||
Business, investment and asset acquisitions, net of cash acquired | ( i 228) | ( i 6,813) | |||||||||
Other | ( i 50) | i 134 | |||||||||
Net cash provided by (used for) investing activities | i 902 | ( i 3,583) | |||||||||
Cash
flows from financing activities: | |||||||||||
Net change in short-term debt with maturities of 3 months or less | i 426 | i 1,128 | |||||||||
Proceeds from debt | i 15,001 | i 1,716 | |||||||||
Payments of debt | ( i 14,948) | ( i 1,530) | |||||||||
Acquisition of non-controlling interests | i — | ( i 1,039) | |||||||||
Proceeds from issuance of non-controlling interests | i — | i 2,523 | |||||||||
Proceeds from variable prepaid forward contracts | i 424 | i — | |||||||||
Treasury stock purchases | ( i 69) | ( i 150) | |||||||||
Cash dividends paid | ( i 828) | ( i 829) | |||||||||
Other | ( i 132) | ( i 53) | |||||||||
Net cash (used for) provided by financing activities | ( i 127) | i 1,766 | |||||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | i 2 | i 13 | |||||||||
Changes in cash, cash equivalents and restricted cash: | |||||||||||
Net decrease in cash, cash equivalents and restricted cash | ( i 142) | ( i 566) | |||||||||
Cash, cash equivalents and restricted cash at beginning of period | i 856 | i 2,558 | |||||||||
Cash, cash equivalents and restricted cash at end of period | $ | i 715 | $ | i 1,993 |
WBA Q2 2024 Form 10-Q | 6 |
WBA
Q2 2024 Form 10-Q | 7 |
Purchase price allocation | ||||||||
Cash consideration 1 | $ | i 4,778 | ||||||
Deferred consideration | i 100 | |||||||
Summit debt paid at closing | i 1,963 | |||||||
Fair
value of equity consideration 2 | i 1,971 | |||||||
Fair value of non-controlling interests | i 13 | |||||||
Total | $ | i 8,825 | ||||||
Identifiable assets acquired and liabilities assumed: | ||||||||
Cash and cash equivalents | $ | i 69 | ||||||
Accounts receivable, net | i 381 | |||||||
Property, plant and equipment | i 607 | |||||||
Intangible assets 3 | i 3,359 | |||||||
Operating lease right-of-use assets | i 756 | |||||||
Other assets | i 174 | |||||||
Operating lease obligations | ( i 773) | |||||||
Deferred tax liability | ( i 735) | |||||||
Other liabilities | ( i 466) | |||||||
Total identifiable net assets | $ | i 3,372 | ||||||
Goodwill | $ | i 5,454 |
WBA
Q2 2024 Form 10-Q | 8 |
Three months ended | Six months ended | |||||||||||||
(Unaudited, in millions) | February 28, 2023 | February 28, 2023 | ||||||||||||
Sales | $ | i 35,119 | $ | i 69,216 |
Three and six months ended | ||||||||
(in millions) | February 28, 2023 | |||||||
Sales | $ | i i 463 / |
WBA Q2
2024 Form 10-Q | 9 |
Three months ended February 29, 2024 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Lease obligations and other real estate costs | $ | i 119 | $ | i 1 | $ | i — | $ | i — | $ | i 120 | |||||||||||||||||||
Asset impairments | i 25 | i 14 | i — | i — | i 39 | ||||||||||||||||||||||||
Employee severance and business transition costs | i 29 | i — | i 3 | i 1 | i 33 | ||||||||||||||||||||||||
Information technology transformation and other exit costs | i 3 | i — | i — | i — | i 3 | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | i 175 | $ | i 16 | $ | i 3 | $ | i 1 | $ | i 195 |
Six months ended February 29, 2024 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Lease obligations and other real estate costs | $ | i 155 | $ | i 1 | $ | i — | $ | i — | $ | i 156 | |||||||||||||||||||
Asset impairments | i 28 | i 21 | i — | i — | i 49 | ||||||||||||||||||||||||
Employee severance and business transition costs | i 51 | i — | i 5 | i 5 | i 60 | ||||||||||||||||||||||||
Information technology transformation and other exit costs | i 6 | i 1 | i — | i — | i 7 | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | i 240 | $ | i 22 | $ | i 5 | $ | i 5 | $ | i 272 |
WBA
Q2 2024 Form 10-Q | 10 |
Three months ended February 28, 2023 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Lease obligations and other real estate costs | $ | i 20 | $ | i — | $ | i — | $ | i — | $ | i 20 | |||||||||||||||||||
Asset impairments | i 96 | ( i 1) | i — | i — | i 95 | ||||||||||||||||||||||||
Employee severance and business transition costs | i 11 | i 1 | i — | i 3 | i 15 | ||||||||||||||||||||||||
Information technology transformation and other exit costs | i 4 | i 5 | i — | ( i 1) | i 9 | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | i 131 | $ | i 4 | $ | i — | $ | i 2 | $ | i 138 |
Six months ended February 28, 2023 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Lease obligations and other real estate costs | $ | i 98 | $ | i — | $ | i — | $ | i — | $ | i 98 | |||||||||||||||||||
Asset impairments | i 115 | ( i 1) | i — | i — | i 113 | ||||||||||||||||||||||||
Employee severance and business transition costs | i 22 | i 2 | i — | i 7 | i 31 | ||||||||||||||||||||||||
Information technology transformation and other exit costs | i 16 | i 10 | i — | ( i 1) | i 25 | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | i 250 | $ | i 10 | $ | i — | $ | i 6 | $ | i 267 |
Lease obligations and other real estate costs | Asset impairments | Employee severance and business transition costs | Information technology transformation and other exit costs | Total | |||||||||||||||||||||||||||||||
Balance at August 31, 2023 | $ | i 10 | $ | i — | $ | i 70 | $ | i 22 | $ | i 102 | |||||||||||||||||||||||||
Costs | i 156 | i 49 | i 60 | i 7 | i 272 | ||||||||||||||||||||||||||||||
Payments | ( i 75) | i — | ( i 77) | ( i 16) | ( i 169) | ||||||||||||||||||||||||||||||
Other | ( i 77) | ( i 49) | i — | i — | ( i 126) | ||||||||||||||||||||||||||||||
Balance at February 29, 2024 | $ | i 14 | $ | i — | $ | i 52 | $ | i 14 | $ | i 80 |
WBA Q2 2024 Form 10-Q | 11 |
Balance sheet supplemental information: | February 29, 2024 | August 31, 2023 | ||||||||||||
Operating leases: | ||||||||||||||
Operating lease right-of-use assets | $ | i 21,342 | $ | i 21,667 | ||||||||||
Operating lease obligations - current | $ | i 2,339 | $ | i 2,347 | ||||||||||
Operating lease obligations - non-current | i 21,812 | i 22,124 | ||||||||||||
Total operating lease obligations | $ | i 24,151 | $ | i 24,472 | ||||||||||
Finance leases: | ||||||||||||||
Right-of-use assets included in: | ||||||||||||||
Property, plant and equipment, net | $ | i 704 | $ | i 678 | ||||||||||
Lease obligations included in: | ||||||||||||||
Accrued expenses and other liabilities | $ | i 70 | $ | i 57 | ||||||||||
Other non-current liabilities | i 934 | i 919 | ||||||||||||
Total finance lease obligations | $ | i 1,004 | $ | i 976 |
Three months ended | Six months ended | |||||||||||||||||||||||||
Statement of earnings supplemental information: | February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||||
Operating lease cost | ||||||||||||||||||||||||||
Fixed | $ | i 871 | $ | i 853 | $ | i 1,739 | $ | i 1,667 | ||||||||||||||||||
Variable
1 | i 210 | i 203 | i 424 | i 395 | ||||||||||||||||||||||
Finance lease cost | ||||||||||||||||||||||||||
Amortization | $ | i 13 | $ | i 11 | $ | i 32 | $ | i 21 | ||||||||||||||||||
Interest | i 13 | i 12 | i 25 | i 24 | ||||||||||||||||||||||
Sublease
income 2 | $ | i 27 | $ | i 28 | $ | i 55 | $ | i 57 | ||||||||||||||||||
Impairment of right-of-use assets | i 132 | i 4 | i 181 | i 71 | ||||||||||||||||||||||
Gain
on sale-leaseback transactions 2 | ||||||||||||||||||||||||||
U.S. Retail Pharmacy | $ | i 98 | $ | i 211 | $ | i 258 | $ | i 384 | ||||||||||||||||||
International
3 | i — | i 132 | i — | i 148 | ||||||||||||||||||||||
Total
gain on sale-leaseback 2 | $ | i 98 | $ | i 343 | $ | i 258 | $ | i 532 |
WBA
Q2 2024 Form 10-Q | 12 |
Six months ended | ||||||||||||||
Other supplemental information: | February 29, 2024 | February 28, 2023 | ||||||||||||
Cash paid for amounts included in the measurement of lease obligations | ||||||||||||||
Operating cash flows from operating leases | $ | i 1,849 | $ | i 1,720 | ||||||||||
Operating cash flows from finance leases | i 25 | i 22 | ||||||||||||
Financing cash flows from finance leases | i 33 | i 21 | ||||||||||||
Total | $ | i 1,906 | $ | i 1,763 | ||||||||||
Right-of-use assets obtained in exchange for new lease obligations | ||||||||||||||
Operating leases | $ | i 993 | $ | i 1,135 | ||||||||||
Finance leases | i 57 | i 18 | ||||||||||||
Total | $ | i 1,049 | $ | i 1,154 |
Weighted average lease terms and discount rates: | February 29, 2024 | August 31, 2023 | ||||||||||||
Weighted average remaining lease term in years | ||||||||||||||
Operating leases | i 9.5 | i 9.6 | ||||||||||||
Finance leases | i 17.0 | i 17.4 | ||||||||||||
Weighted average discount rate | ||||||||||||||
Operating leases | i 5.55 | % | i 5.35 | % | ||||||||||
Finance leases | i 5.26 | % | i 5.25 | % |
Future lease payments (fiscal years): | Finance lease | Operating lease 1,2 | ||||||||||||
2024 (Remaining period) | $ | i 63 | $ | i 1,836 | ||||||||||
2025 | i 122 | i 3,635 | ||||||||||||
2026 | i 119 | i 3,564 | ||||||||||||
2027 | i 116 | i 3,476 | ||||||||||||
2028 | i 95 | i 3,342 | ||||||||||||
2029 | i 85 | i 3,100 | ||||||||||||
Later | i 881 | i 12,441 | ||||||||||||
Total undiscounted minimum lease payments | $ | i 1,481 | $ | i 31,394 | ||||||||||
Less: Present value discount | i 477 | i 7,242 | ||||||||||||
Lease liability | $ | i 1,004 | $ | i 24,151 |
WBA Q2 2024 Form 10-Q | 13 |
February 29, 2024 | August 31, 2023 | ||||||||||||||||||||||
Carrying value | Ownership percentage | Carrying value | Ownership percentage | ||||||||||||||||||||
Cencora | $ | i 2,183 | i 14% | $ | i 2,534 | i 16% | |||||||||||||||||
Others | i 1,073 | i 8%
- i 50% | i 963 | i 8%
- i 50% | |||||||||||||||||||
Total | $ | i 3,256 | $ | i 3,497 |
WBA Q2 2024 Form 10-Q | 14 |
Goodwill roll forward: | U.S. Retail Pharmacy | International | U.S. Healthcare | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||
August 31, 2023 | $ | i 10,947 | $ | i 1,378 | $ | i 15,863 | $ | i 28,187 | ||||||||||||||||||
Adjustments
1 | i — | i — | i 22 | i 22 | ||||||||||||||||||||||
Impairments | i — | i — | ( i 12,369) | ( i 12,369) | ||||||||||||||||||||||
Cumulative translation adjustments and other | i — | ( i 18) | ( i 8) | ( i 26) | ||||||||||||||||||||||
February 29, 2024 | $ | i 10,947 | $ | i 1,360 | $ | i 3,508 | $ | i 15,814 |
WBA
Q2 2024 Form 10-Q | 15 |
Intangible assets: | February 29, 2024 | August 31, 2023 | |||||||||
Gross amortizable intangible assets | |||||||||||
Customer
relationships and loyalty card holders 1 | $ | i 4,671 | $ | i 4,658 | |||||||
Provider networks | i 2,966 | i 3,202 | |||||||||
Trade names and trademarks | i 2,298 | i 2,300 | |||||||||
Developed technology | i 469 | i 469 | |||||||||
Others | i 113 | i 137 | |||||||||
Total gross amortizable intangible assets | $ | i 10,518 | $ | i 10,767 | |||||||
Accumulated amortization | |||||||||||
Customer relationships and loyalty card holders 1 | $ | i 1,920 | $ | i 1,784 | |||||||
Provider networks | i 325 | i 233 | |||||||||
Trade names and trademarks | i 482 | i 401 | |||||||||
Developed technology | i 182 | i 143 | |||||||||
Others | i 55 | i 48 | |||||||||
Total accumulated amortization | i 2,964 | i 2,609 | |||||||||
Total amortizable intangible assets, net | $ | i 7,554 | $ | i 8,158 | |||||||
Indefinite-lived intangible assets | |||||||||||
Trade names and trademarks | $ | i 4,609 | $ | i 4,650 | |||||||
Pharmacy licenses | i 821 | i 828 | |||||||||
Total indefinite-lived intangible assets | $ | i 5,430 | $ | i 5,477 | |||||||
Total intangible assets, net | $ | i 12,984 | $ | i 13,635 |
2024 (Remaining period) | 2025 | 2026 | 2027 | 2028 | 2029 | ||||||||||||||||||||||||||||||
Estimated annual amortization expense | $ | i 468 | $ | i 904 | $ | i 865 | $ | i 782 | $ | i 705 | $ | i 652 |
WBA
Q2 2024 Form 10-Q | 16 |
February 29, 2024 | August 31, 2023 | ||||||||||
Short-term debt | |||||||||||
Commercial
paper 1 | $ | i 426 | $ | i — | |||||||
Credit
facilities 1 | |||||||||||
November 2021 DDTL due November 2024 | i 290 | i — | |||||||||
$ i 850
million note issuance 1 | |||||||||||
i 0.9500% unsecured notes due 2023 | i — | i 850 | |||||||||
$ i 8
billion note issuance 1 | |||||||||||
i 3.800% unsecured notes due 2024 | i 1,156 | i — | |||||||||
Other
2 | i 65 | i 68 | |||||||||
Total short-term debt | $ | i 1,937 | $ | i 917 | |||||||
Long-term debt | |||||||||||
Credit facilities 1 | |||||||||||
November 2021 DDTL due November 2024 | $ | i — | $ | i 289 | |||||||
December 2022 DDTL due January 2026 | i 999 | i 999 | |||||||||
August 2023 DDTL due November 2026 | i 999 | i — | |||||||||
August 2023 RCF due August 2026 | i 40 | i — | |||||||||
$ i 1.5
billion note issuance 1 | |||||||||||
i 3.200% unsecured notes due 2030 | i 498 | i 498 | |||||||||
i 4.100%
unsecured notes due 2050 | i 728 | i 793 | |||||||||
$ i 6
billion note issuance 1 | |||||||||||
i 3.450% unsecured notes due 2026 | i 1,445 | i 1,444 | |||||||||
i 4.650%
unsecured notes due 2046 | i 313 | i 318 | |||||||||
$ i 8
billion note issuance 1 | |||||||||||
i 3.800% unsecured notes due 2024 | i — | i 1,156 | |||||||||
i 4.500%
unsecured notes due 2034 | i 301 | i 301 | |||||||||
i 4.800%
unsecured notes due 2044 | i 756 | i 869 | |||||||||
£ i 700
million note issuance 1 | |||||||||||
i 3.600% unsecured Pound Sterling notes due 2025 | i 378 | i 381 | |||||||||
€ i 750
million note issuance 1 | |||||||||||
i 2.125% unsecured Euro notes due 2026 | i 809 | i 814 | |||||||||
$ i 4
billion note issuance 3 | |||||||||||
i 4.400% unsecured notes due 2042 | i 255 | i 263 | |||||||||
Other
2 | i 14 | i 20 | |||||||||
Total long-term debt, less current portion | $ | i 7,535 | $ | i 8,145 |
WBA Q2 2024 Form 10-Q | 17 |
WBA Q2 2024 Form 10-Q | 18 |
WBA
Q2 2024 Form 10-Q | 19 |
February 29, 2024 | Notional | Fair Value | Location in Consolidated Condensed Balance Sheets | ||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||
Cross currency interest rate swaps | $ | i 350 | $ | i 8 | Other current assets | ||||||||||||
Cross currency interest rate swaps | i 300 | i 14 | Other non-current assets | ||||||||||||||
Foreign currency forwards | i 874 | i 3 | Other current liabilities | ||||||||||||||
Derivatives not designated as hedges: | |||||||||||||||||
Foreign currency forwards | $ | i 537 | $ | i 1 | Other current assets | ||||||||||||
Total return swaps | i 174 | i 3 | Other current assets | ||||||||||||||
Foreign currency forwards | i 3,480 | i 12 | Other current liabilities | ||||||||||||||
Total return swaps | i 28 | i — | Other current liabilities | ||||||||||||||
Variable prepaid forward contracts | i 3,726 | i 3,861 | Other non-current liabilities |
August 31, 2023 | Notional | Fair Value | Location in Consolidated Condensed Balance Sheets | ||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||
Foreign currency forwards | $ | i 31 | $ | i 1 | Other current assets | ||||||||||||
Cross currency interest rate swaps | i 650 | i 28 | Other non-current assets | ||||||||||||||
Foreign currency forwards | i 805 | i 2 | Other current liabilities | ||||||||||||||
Cross currency interest rate swaps | i 102 | i 2 | Other current liabilities | ||||||||||||||
Foreign currency forwards | i 4 | i — | Other non-current liabilities | ||||||||||||||
Derivatives not designated as hedges: | |||||||||||||||||
Foreign currency forwards | $ | i 3,139 | $ | i 6 | Other current assets | ||||||||||||
Total return swaps | i 168 | i 1 | Other current assets | ||||||||||||||
Foreign currency forwards | i 817 | i 2 | Other current liabilities | ||||||||||||||
Total return swaps | i 26 | i 1 | Other current liabilities | ||||||||||||||
Variable prepaid forward contracts | i 3,195 | i 2,548 | Other non-current liabilities |
WBA Q2 2024 Form 10-Q | 20 |
Transaction date | Shares pledged and maximum shares subject to forward sale | Prepayment amount | Forward settlement date | |||||||||||||||||
May 11, 2023 | i 4.6 | $ | i 644 | Fourth quarter, fiscal 2025 | ||||||||||||||||
June 15, 2023 | i 2.2 | i 325 | Third quarter, fiscal 2025 | |||||||||||||||||
August 3, 2023 | i 5.3 | i 801 | First quarter, fiscal 2026 | |||||||||||||||||
August 4, 2023 | i 5.3 | i 797 | Third quarter, fiscal 2026 | |||||||||||||||||
November 9, 2023 | i 2.7 | i 424 | Fourth quarter, fiscal 2026 | |||||||||||||||||
i 20.0 | $ | i 2,991 |
Three months ended | Six months ended | ||||||||||||||||||||||||||||
Location in Consolidated Condensed Statements of Earnings | February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||||
Total return swap | Selling, general and administrative expenses | $ | i 18 | $ | ( i 3) | i 17 | $ | i — | |||||||||||||||||||||
Foreign currency forwards | Other income (expense), net 1 | ( i 26) | ( i 73) | i 33 | ( i 92) | ||||||||||||||||||||||||
Variable prepaid forward | Other income (expense), net | ( i 522) | i — | ( i 888) | i — |
WBA Q2 2024 Form 10-Q | 21 |
February 29, 2024 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Money
market funds 1 | $ | i 14 | $ | i 14 | $ | i — | $ | i — | |||||||||||||||
Cross
currency interest rate swaps 2 | i 22 | i — | i 22 | i — | |||||||||||||||||||
Foreign
currency forwards 3 | i 1 | i — | i 1 | i — | |||||||||||||||||||
Investments
in equity securities 4 | i 13 | i 13 | i — | i — | |||||||||||||||||||
Investments
in debt securities 5 | i 109 | i — | i 109 | i — | |||||||||||||||||||
Total return swaps | i 3 | i — | i 3 | i — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Variable
prepaid forward 6 | $ | i 3,861 | $ | i — | $ | i — | $ | i 3,861 | |||||||||||||||
Foreign
currency forwards 3 | i 15 | i — | i 15 | i — | |||||||||||||||||||
August 31, 2023 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Money market funds 1 | $ | i 11 | $ | i 11 | $ | i — | $ | i — | |||||||||||||||
Cross
currency interest rate swaps 2 | i 28 | i — | i 28 | i — | |||||||||||||||||||
Foreign
currency forwards 3 | i 6 | i — | i 6 | i — | |||||||||||||||||||
Investments
in equity securities 4 | i 17 | i 17 | i — | i — | |||||||||||||||||||
Investments
in debt securities 5 | i 15 | i — | i 15 | i — | |||||||||||||||||||
Total return swaps | i 1 | i — | i 1 | i — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Variable
prepaid forward 6 | $ | i 2,548 | $ | i — | $ | i — | $ | i 2,548 | |||||||||||||||
Foreign
currency forwards 3 | i 5 | i — | i 5 | i — | |||||||||||||||||||
Total return swaps | i 1 | i — | i 1 | i — | |||||||||||||||||||
Cross
currency interest rate swaps 2 | i 2 | i — | i 2 | i — |
WBA
Q2 2024 Form 10-Q | 22 |
Three months ended | Six months ended | ||||||||||
February 29, 2024 | February 29, 2024 | ||||||||||
Opening balance | $ | ( i 3,338) | $ | ( i 2,548) | |||||||
VPF derivative additions | i — | ( i 424) | |||||||||
Unrealized losses recorded in Other income (expense), net | ( i 522) | ( i 888) | |||||||||
Ending balance | $ | ( i 3,861) | $ | ( i 3,861) |
WBA Q2 2024 Form 10-Q | 23 |
WBA
Q2 2024 Form 10-Q | 24 |
WBA
Q2 2024 Form 10-Q | 25 |
WBA
Q2 2024 Form 10-Q | 26 |
WBA Q2 2024 Form
10-Q | 27 |
Three months ended | Six months ended | ||||||||||||||||||||||||||||
Location in Consolidated Condensed Statements of Earnings | February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||||
Service costs | Selling, general and administrative expenses | $ | i 1 | $ | i 1 | $ | i 2 | $ | i 2 | ||||||||||||||||||||
Interest costs | Other income (expense), net | i 64 | i 63 | i 134 | i 122 | ||||||||||||||||||||||||
Expected returns on plan assets/other | Other income (expense), net | ( i 63) | ( i 80) | ( i 136) | ( i 156) | ||||||||||||||||||||||||
Total net periodic pension expense (income) | $ | i 3 | $ | ( i 16) | $ | i — | $ | ( i 32) |
WBA
Q2 2024 Form 10-Q | 28 |
Pension/ post-retirement obligations | Unrealized loss on cash flow hedges and other | Net investment hedges | Share of OCI of equity method investments | Cumulative translation adjustments | Total | ||||||||||||||||||||||||||||||
Balance at November 30, 2023 | $ | ( i 642) | $ | ( i 1) | $ | i 86 | $ | ( i 147) | $ | ( i 2,291) | $ | ( i 2,995) | |||||||||||||||||||||||
Other comprehensive income (loss) before reclassification adjustments | i 51 | i — | ( i 1) | i 41 | i 17 | i 108 | |||||||||||||||||||||||||||||
Amounts reclassified from AOCI | ( i 4) | i 1 | i — | i 20 | i — | i 17 | |||||||||||||||||||||||||||||
Tax provision | ( i 12) | i — | i — | ( i 14) | i — | ( i 26) | |||||||||||||||||||||||||||||
Net change in other comprehensive income (loss) | i 34 | i — | ( i 1) | i 48 | i 17 | i 99 | |||||||||||||||||||||||||||||
Balance at February 29, 2024 | $ | ( i 608) | $ | i — | $ | i 85 | $ | ( i 100) | $ | ( i 2,274) | $ | ( i 2,897) |
Pension/ post-retirement obligations | Unrealized loss on cash flow hedges and other | Net investment hedges | Share of OCI of equity method investments | Cumulative translation adjustments | Total | ||||||||||||||||||||||||||||||
Balance at August 31, 2023 | $ | ( i 698) | $ | ( i 6) | $ | i 83 | $ | ( i 132) | $ | ( i 2,240) | $ | ( i 2,993) | |||||||||||||||||||||||
Other comprehensive income (loss) before reclassification adjustments | i 127 | i — | i 7 | i 13 | ( i 31) | i 117 | |||||||||||||||||||||||||||||
Amounts reclassified from AOCI | ( i 7) | i 5 | ( i 4) | i 28 | ( i 2) | i 20 | |||||||||||||||||||||||||||||
Tax provision | ( i 31) | i — | ( i 1) | ( i 9) | i — | ( i 40) | |||||||||||||||||||||||||||||
Net change in other comprehensive income (loss) | i 90 | i 5 | i 2 | i 33 | ( i 34) | i 96 | |||||||||||||||||||||||||||||
Balance at February 29, 2024 | $ | ( i 608) | $ | i — | $ | i 85 | $ | ( i 100) | $ | ( i 2,274) | $ | ( i 2,897) |
Pension/ post-retirement obligations | Unrealized loss on cash flow hedges and other | Net investment hedges | Share of OCI of equity method investments | Cumulative translation adjustments | Total | ||||||||||||||||||||||||||||||
Balance at November 30, 2022 | $ | ( i 162) | $ | ( i 4) | $ | i 183 | $ | ( i 250) | $ | ( i 2,583) | $ | ( i 2,815) | |||||||||||||||||||||||
Other comprehensive (loss) income before reclassification adjustments | i — | ( i 2) | ( i 57) | i 78 | i 133 | i 153 | |||||||||||||||||||||||||||||
Amounts reclassified from AOCI | ( i 7) | i 1 | i — | i 40 | ( i 11) | i 22 | |||||||||||||||||||||||||||||
Tax benefit (provision) | i 2 | i — | i 14 | ( i 30) | i — | ( i 15) | |||||||||||||||||||||||||||||
Net change in other comprehensive (loss) income | ( i 5) | ( i 1) | ( i 43) | i 88 | i 122 | i 161 | |||||||||||||||||||||||||||||
Balance at February 28, 2023 | $ | ( i 167) | $ | ( i 5) | $ | i 140 | $ | ( i 162) | $ | ( i 2,461) | $ | ( i 2,654) |
WBA
Q2 2024 Form 10-Q | 29 |
Pension/ post-retirement obligations | Unrealized loss on cash flow hedges and other | Net investment hedges | Share of OCI of equity method investments | Cumulative translation adjustments | Total | ||||||||||||||||||||||||||||||
Balance at August 31, 2022 | $ | ( i 157) | $ | ( i 2) | $ | i 213 | $ | ( i 254) | $ | ( i 2,605) | $ | ( i 2,805) | |||||||||||||||||||||||
Other comprehensive (loss) income before reclassification adjustments | i — | ( i 4) | ( i 96) | ( i 25) | i 158 | i 33 | |||||||||||||||||||||||||||||
Amounts reclassified from AOCI | ( i 13) | i — | i — | i 150 | ( i 14) | i 123 | |||||||||||||||||||||||||||||
Tax benefit (provision) | i 3 | i — | i 23 | ( i 33) | i — | ( i 6) | |||||||||||||||||||||||||||||
Net change in other comprehensive (loss) income | ( i 10) | ( i 3) | ( i 73) | i 92 | i 144 | i 151 | |||||||||||||||||||||||||||||
Balance at February 28, 2023 | $ | ( i 167) | $ | ( i 5) | $ | i 140 | $ | ( i 162) | $ | ( i 2,461) | $ | ( i 2,654) |
WBA Q2 2024 Form 10-Q | 30 |
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales: | |||||||||||||||||||||||
U.S. Retail Pharmacy | $ | i 28,861 | $ | i 27,577 | $ | i 57,805 | $ | i 54,781 | |||||||||||||||
International | i 6,022 | i 5,651 | i 11,854 | i 10,840 | |||||||||||||||||||
U.S. Healthcare | i 2,176 | i 1,634 | i 4,107 | i 2,622 | |||||||||||||||||||
Corporate
and Other 1 | ( i 6) | i — | ( i 6) | i — | |||||||||||||||||||
Walgreens Boots Alliance, Inc. | $ | i 37,052 | $ | i 34,862 | $ | i 73,760 | $ | i 68,244 | |||||||||||||||
Adjusted operating income: | |||||||||||||||||||||||
U.S. Retail Pharmacy | $ | i 752 | $ | i 1,067 | $ | i 1,446 | $ | i 2,172 | |||||||||||||||
International | i 245 | i 352 | i 387 | i 468 | |||||||||||||||||||
U.S. Healthcare | ( i 34) | ( i 159) | ( i 129) | ( i 311) | |||||||||||||||||||
Corporate
and Other 1 | ( i 63) | ( i 44) | ( i 117) | ( i 100) | |||||||||||||||||||
Walgreens Boots Alliance, Inc. | $ | i 900 | $ | i 1,215 | $ | i 1,588 | $ | i 2,229 | |||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Adjusted operating income (Non-GAAP measure) | $ | i 900 | $ | i 1,215 | $ | i 1,588 | $ | i 2,229 | |||||||||||||||
Impairment of goodwill, intangibles and long-lived assets | ( i 13,090) | i — | ( i 13,090) | i — | |||||||||||||||||||
Acquisition-related amortization | ( i 270) | ( i 247) | ( i 545) | ( i 577) | |||||||||||||||||||
Acquisition-related costs | ( i 249) | ( i 148) | ( i 412) | ( i 187) | |||||||||||||||||||
Certain legal and regulatory accruals and settlements | ( i 242) | ( i 427) | ( i 324) | ( i 6,981) | |||||||||||||||||||
Transformational cost management | ( i 197) | ( i 145) | ( i 306) | ( i 283) | |||||||||||||||||||
Adjustments to equity earnings in Cencora | ( i 22) | ( i 31) | ( i 72) | ( i 117) | |||||||||||||||||||
LIFO provision | i — | ( i 20) | ( i 48) | ( i 38) | |||||||||||||||||||
Operating (loss) income (GAAP measure) | $ | ( i 13,171) | $ | i 197 | $ | ( i 13,209) | $ | ( i 5,954) |
WBA
Q2 2024 Form 10-Q | 31 |
Three months ended | Six months ended | |||||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||
U.S. Retail Pharmacy | ||||||||||||||||||||||||||
Pharmacy | $ | i 21,508 | $ | i 19,874 | $ | i 43,892 | $ | i 40,092 | ||||||||||||||||||
Retail | i 7,353 | i 7,703 | i 13,913 | i 14,689 | ||||||||||||||||||||||
Total | i 28,861 | i 27,577 | i 57,805 | i 54,781 | ||||||||||||||||||||||
International | ||||||||||||||||||||||||||
Pharmacy | i 898 | i 898 | i 1,824 | i 1,766 | ||||||||||||||||||||||
Retail | i 2,158 | i 1,994 | i 4,090 | i 3,643 | ||||||||||||||||||||||
Wholesale | i 2,966 | i 2,759 | i 5,940 | i 5,431 | ||||||||||||||||||||||
Total | i 6,022 | i 5,651 | i 11,854 | i 10,840 | ||||||||||||||||||||||
U.S. Healthcare | i 2,176 | i 1,634 | i 4,107 | i 2,622 | ||||||||||||||||||||||
Corporate
and Other 1 | ( i 6) | i — | ( i 6) | i — | ||||||||||||||||||||||
Walgreens Boots Alliance, Inc. | $ | i 37,052 | $ | i 34,862 | $ | i 73,760 | $ | i 68,244 |
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Purchases, net | $ | i 17,804 | $ | i 15,759 | $ | i 36,114 | $ | i 31,199 |
February 29, 2024 | August 31, 2023 | ||||||||||
Trade accounts payable, net of receivables | $ | i 8,308 | $ | i 7,814 |
WBA
Q2 2024 Form 10-Q | 32 |
WBA Q2 2024 Form 10-Q | 33 |
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Depreciation expense | $ | i 374 | $ | i 361 | $ | i 751 | $ | i 697 | |||||||||||||||
Intangible assets amortization | i 239 | i 199 | i 478 | i 357 | |||||||||||||||||||
Total depreciation and amortization expense | $ | i 613 | $ | i 559 | $ | i 1,230 | $ | i 1,055 |
February 29, 2024 | August 31, 2023 | ||||||||||
Cash and cash equivalents | $ | i 668 | $ | i 739 | |||||||
Cash and cash equivalents - assets held for sale (included in other current assets) | i — | i 24 | |||||||||
Restricted cash - (included in other current and non-current assets) | i 47 | i 93 | |||||||||
Cash, cash equivalents and restricted cash | $ | i 715 | $ | i 856 |
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Opening balance | $ | i 169 | $ | i 157 | $ | i 167 | $ | i 1,042 | |||||||||||||||
Net loss attributable to Redeemable non-controlling interests | i 2 | ( i 1) | i 2 | ( i 24) | |||||||||||||||||||
Redemption
price adjustments and other 1 | i 2 | i 3 | i 4 | i 454 | |||||||||||||||||||
Reclassifications
to Accrued expenses and other liabilities 2 | i — | i — | i — | ( i 1,314) | |||||||||||||||||||
Ending balance | $ | i 172 | $ | i 158 | $ | i 172 | $ | i 158 |
WBA Q2 2024 Form 10-Q | 34 |
Quarter ended | 2024 | 2023 | ||||||||||||
November | $ | i 0.4800 | $ | i 0.4800 | ||||||||||
February | $ | i 0.2500 | $ | i 0.4800 | ||||||||||
Total | $ | i 0.7300 | $ | i 0.9600 |
WBA
Q2 2024 Form 10-Q | 35 |
WBA Q2 2024 Form 10-Q | 36 |
WBA Q2 2024 Form 10-Q | 37 |
Transformational Cost Management Program Activities | Range of Charges | ||||
Lease obligations and other real estate costs 1 | $1,600 to $1,650 million | ||||
Asset impairments 2 | $1,000 to $1,040 million | ||||
Employee severance and business transition costs | $900 to $1,000 million | ||||
Information technology transformation and other exit costs | $300 to $400 million | ||||
Total cumulative pre-tax exit and disposal charges | $3.8 to $4.1 billion | ||||
Other IT transformation costs | $300 to $330 million | ||||
Total estimated pre-tax charges | $4.1 to $4.4 billion |
Three months ended February 29, 2024 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | 175 | $ | 16 | $ | 3 | $ | 1 | $ | 195 | |||||||||||||||||||
Other IT transformation costs | 2 | — | — | — | 2 | ||||||||||||||||||||||||
Total pre-tax charges | $ | 177 | $ | 16 | $ | 3 | $ | 1 | $ | 197 |
WBA
Q2 2024 Form 10-Q | 38 |
Six months ended February 29, 2024 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | 240 | $ | 22 | $ | 5 | $ | 5 | $ | 272 | |||||||||||||||||||
Other IT transformation costs | 34 | — | — | — | 34 | ||||||||||||||||||||||||
Total pre-tax charges | $ | 274 | $ | 22 | $ | 5 | $ | 5 | $ | 306 |
Three months ended February 28, 2023 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | 131 | $ | 4 | $ | — | $ | 2 | $ | 138 | |||||||||||||||||||
Other IT transformation costs | 6 | — | — | — | 7 | ||||||||||||||||||||||||
Total pre-tax charges | $ | 138 | $ | 5 | $ | — | $ | 2 | $ | 145 |
Six months ended February 28, 2023 | U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||
Total pre-tax exit and disposal charges | $ | 250 | $ | 10 | $ | — | $ | 6 | $ | 267 | |||||||||||||||||||
Other IT transformation costs | 15 | 1 | — | — | 16 | ||||||||||||||||||||||||
Total pre-tax charges | $ | 265 | $ | 11 | $ | — | $ | 6 | $ | 283 |
WBA
Q2 2024 Form 10-Q | 39 |
(in millions, except per share amounts) | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | $ | 37,052 | $ | 34,862 | $ | 73,760 | $ | 68,244 | |||||||||||||||
Gross profit | 7,041 | 7,055 | 13,811 | 14,008 | |||||||||||||||||||
Selling, general and administrative expenses | 7,920 | 6,934 | 14,772 | 20,091 | |||||||||||||||||||
Impairment of goodwill | 12,369 | — | 12,369 | — | |||||||||||||||||||
Equity earnings in Cencora | 79 | 75 | 120 | 129 | |||||||||||||||||||
Operating (loss) income (GAAP) | (13,171) | 197 | (13,209) | (5,954) | |||||||||||||||||||
Adjusted
operating income (Non-GAAP measure) 1 | 900 | 1,215 | 1,588 | 2,229 | |||||||||||||||||||
(Loss) earnings before interest and income tax (benefit) provision | (12,976) | 749 | (13,235) | (4,410) | |||||||||||||||||||
Net (loss) earnings attributable to Walgreens Boots Alliance, Inc. (GAAP) | (5,908) | 703 | (5,975) | (3,018) | |||||||||||||||||||
Adjusted net earnings attributable to Walgreens Boots Alliance, Inc. (Non-GAAP measure) 1 | 1,036 | 1,000 | 1,607 | 2,004 | |||||||||||||||||||
Diluted net (loss) earnings per common share (GAAP) | (6.85) | 0.81 | (6.93) | (3.50) | |||||||||||||||||||
Adjusted diluted net earnings per common share (Non-GAAP measure) 1 | 1.20 | 1.16 | 1.86 | 2.32 |
Percentage increases (decreases) | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | 6.3 | 3.3 | 8.1 | 0.9 | |||||||||||||||||||
Gross profit | (0.2) | (8.5) | (1.4) | (8.3) | |||||||||||||||||||
Selling, general and administrative expenses 2 | 192.6 | 5.6 | 35.1 | 55.1 | |||||||||||||||||||
Impairment of goodwill | NM | — | NM | — | |||||||||||||||||||
Operating (loss) income (GAAP) | NM | (84.2) | 121.8 | NM | |||||||||||||||||||
Adjusted operating income (Non-GAAP measure) 1 | (25.9) | (26.7) | (28.8) | (35.1) | |||||||||||||||||||
(Loss) earnings before interest and income tax (benefit) provision | NM | (28.5) | NM | (189.2) | |||||||||||||||||||
Net (loss) earnings attributable to Walgreens Boots Alliance, Inc. (GAAP) | NM | (20.4) | 98.0 | (167.6) | |||||||||||||||||||
Adjusted net earnings attributable to Walgreens Boots Alliance, Inc. (Non-GAAP measure) 1 | 3.5 | (27.4) | (19.8) | (29.2) | |||||||||||||||||||
Diluted net (loss) earnings per common share (GAAP) | NM | (20.3) | 98.0 | (167.9) | |||||||||||||||||||
Adjusted diluted net earnings per common share (Non-GAAP measure) 1 | 3.4 | (27.2) | (19.9) | (29.0) |
WBA
Q2 2024 Form 10-Q | 40 |
Percent to sales | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Gross margin | 19.0 | 20.2 | 18.7 | 20.5 | |||||||||||||||||||
Selling,
general and administrative expenses 2 | 54.8 | 19.9 | 36.8 | 29.4 |
WBA Q2 2024 Form 10-Q | 41 |
WBA Q2 2024 Form 10-Q | 42 |
FINANCIAL PERFORMANCE | (in millions, except location amounts) | ||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | $ | 28,861 | $ | 27,577 | $ | 57,805 | $ | 54,781 | |||||||||||||||
Gross profit | 5,563 | 5,825 | 10,997 | 11,711 | |||||||||||||||||||
Selling, general and administrative expenses | 5,938 | 5,527 | 11,117 | 17,225 | |||||||||||||||||||
Equity earnings in Cencora | 79 | 75 | 120 | 129 | |||||||||||||||||||
Operating (loss) income | (297) | 373 | 1 | (5,385) | |||||||||||||||||||
Adjusted operating income 1 | 752 | 1,067 | 1,446 | 2,172 | |||||||||||||||||||
Number
of prescriptions 2 | 198.8 | 197.3 | 406.0 | 408.6 | |||||||||||||||||||
30-day equivalent prescriptions 2,3 | 305.7 | 298.0 | 617.3 | 609.6 | |||||||||||||||||||
Number of locations at period end | 8,583 | 8,779 | 8,583 | 8,779 |
Percentage increases (decreases) | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | 4.7 | (0.3) | 5.5 | (1.6) | |||||||||||||||||||
Gross profit | (4.5) | (10.2) | (6.1) | (8.7) | |||||||||||||||||||
Selling, general and administrative expenses | 7.4 | 6.3 | (35.5) | 67.4 | |||||||||||||||||||
Operating (loss) income | NM | (73.2) | NM | NM | |||||||||||||||||||
Adjusted
operating income 1 | (29.5) | (32.8) | (33.4) | (33.7) | |||||||||||||||||||
Comparable sales 4 | 4.8 | 3.1 | 6.5 | 3.5 | |||||||||||||||||||
Pharmacy sales | 8.2 | 0.3 | 9.5 | (2.0) | |||||||||||||||||||
Comparable pharmacy sales 4 | 8.7 | 4.9 | 10.9 | 4.9 | |||||||||||||||||||
Retail sales | (4.5) | (1.8) | (5.3) | (0.6) | |||||||||||||||||||
Comparable
retail sales 4 | (4.3) | (1.0) | (4.6) | 0.1 | |||||||||||||||||||
Comparable number of prescription 2,4 | 0.9 | (2.2) | 0.1 | (2.3) | |||||||||||||||||||
Comparable 30-day equivalent prescriptions 2,3,4 | 2.7 | 0.2 | 2.0 | 0.1 |
WBA
Q2 2024 Form 10-Q | 43 |
Percent to sales | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Gross margin | 19.3 | 21.1 | 19.0 | 21.4 | |||||||||||||||||||
Selling, general and administrative expenses | 20.6 | 20.0 | 19.2 | 31.4 |
WBA Q2 2024 Form 10-Q | 44 |
WBA Q2 2024 Form 10-Q | 45 |
FINANCIAL PERFORMANCE | (in millions, except location amounts) | ||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | $ | 6,022 | $ | 5,651 | $ | 11,854 | $ | 10,840 | |||||||||||||||
Gross profit | 1,287 | 1,198 | 2,498 | 2,248 | |||||||||||||||||||
Selling, general and administrative expenses | 1,078 | 846 | 2,173 | 1,789 | |||||||||||||||||||
Operating income | 209 | 353 | 325 | 459 | |||||||||||||||||||
Adjusted
operating income 1 | 245 | 352 | 387 | 468 | |||||||||||||||||||
Number of locations at period end | 3,495 | 3,975 | 3,495 | 3,975 |
Percentage increases (decreases) | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | 6.6 | 1.6 | 9.4 | (4.7) | |||||||||||||||||||
Gross profit | 7.4 | (0.7) | 11.1 | (6.8) | |||||||||||||||||||
Selling, general and administrative expenses | 27.5 | (18.2) | 21.4 | (18.2) | |||||||||||||||||||
Operating income | (40.9) | 104.0 | (29.2) | 102.2 | |||||||||||||||||||
Adjusted
operating income 1 | (30.3) | 55.8 | (17.3) | 20.2 | |||||||||||||||||||
Comparable sales in constant currency 2 | 5.0 | 10.8 | 5.8 | 8.4 | |||||||||||||||||||
Pharmacy sales | (0.1) | (6.2) | 3.3 | (10.6) | |||||||||||||||||||
Comparable pharmacy sales in constant currency 2 | 2.6 | 3.1 | 2.1 | 2.1 | |||||||||||||||||||
Retail sales | 8.3 | 6.1 | 12.3 | (0.9) | |||||||||||||||||||
Comparable
retail sales in constant currency 2 | 6.1 | 14.7 | 7.5 | 11.8 |
WBA Q2 2024 Form 10-Q | 46 |
Percent to sales | |||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Gross margin | 21.4 | 21.2 | 21.1 | 20.7 | |||||||||||||||||||
Selling, general and administrative expenses | 17.9 | 15.0 | 18.3 | 16.5 |
WBA
Q2 2024 Form 10-Q | 47 |
WBA
Q2 2024 Form 10-Q | 48 |
FINANCIAL PERFORMANCE | (in millions, except location amounts) | ||||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | ||||||||||||||||||||
Sales | $ | 2,176 | $ | 1,634 | $ | 4,107 | $ | 2,622 | |||||||||||||||
Gross profit | 191 | 32 | 316 | 49 | |||||||||||||||||||
Selling, general and administrative expenses | 880 | 504 | 1,441 | 958 | |||||||||||||||||||
Impairment of goodwill | 12,369 | — | 12,369 | — | |||||||||||||||||||
Operating loss (GAAP) | (13,059) | (472) | (13,494) | (909) | |||||||||||||||||||
Adjusted operating loss 1 | (34) | (159) | (129) | (311) | |||||||||||||||||||
Adjusted
EBITDA (Non-GAAP measure) 1 | 17 | (109) | (22) | (233) |
WBA
Q2 2024 Form 10-Q | 49 |
WBA
Q2 2024 Form 10-Q | 50 |
WBA Q2 2024 Form 10-Q | 51 |
Three months ended February 29, 2024 | ||||||||||||||||||||||||||||||||
U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||||
Operating (loss) income (GAAP) | $ | (297) | $ | 209 | $ | (13,059) | $ | (24) | $ | (13,171) | ||||||||||||||||||||||
Impairment of goodwill, intangibles and long-lived assets | 478 | — | 12,579 | 34 | 13,090 | |||||||||||||||||||||||||||
Acquisition-related amortization | 95 | 16 | 159 | — | 270 | |||||||||||||||||||||||||||
Acquisition-related costs | 34 | 5 | 285 | (74) | 249 | |||||||||||||||||||||||||||
Certain legal and regulatory accruals and settlements | 242 | — | — | — | 242 | |||||||||||||||||||||||||||
Transformational cost management | 177 | 16 | 3 | 1 | 197 | |||||||||||||||||||||||||||
Adjustments to equity earnings in Cencora | 22 | — | — | — | 22 | |||||||||||||||||||||||||||
Adjusted operating income (loss) (Non-GAAP measure) | $ | 752 | $ | 245 | $ | (34) | $ | (63) | $ | 900 |
Three months ended February 28, 2023 | ||||||||||||||||||||||||||||||||
U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||||
Operating income (loss) (GAAP) | $ | 373 | $ | 353 | $ | (472) | $ | (56) | $ | 197 | ||||||||||||||||||||||
Certain legal and regulatory accruals and settlements | 427 | — | — | — | 427 | |||||||||||||||||||||||||||
Transformational cost management | 138 | 4 | — | 2 | 145 | |||||||||||||||||||||||||||
Acquisition-related amortization | 78 | 15 | 154 | — | 247 | |||||||||||||||||||||||||||
Acquisition-related costs | — | (20) | 158 | 10 | 148 | |||||||||||||||||||||||||||
Adjustments to equity earnings in Cencora | 31 | — | — | — | 31 | |||||||||||||||||||||||||||
LIFO provision | 20 | — | — | — | 20 | |||||||||||||||||||||||||||
Adjusted operating income (loss) (Non-GAAP measure) | $ | 1,067 | $ | 352 | $ | (159) | $ | (44) | $ | 1,215 |
WBA
Q2 2024 Form 10-Q | 52 |
Six months ended February 29, 2024 | ||||||||||||||||||||||||||||||||
U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||||
Operating income (loss) (GAAP) | $ | 1 | $ | 325 | $ | (13,494) | $ | (41) | $ | (13,209) | ||||||||||||||||||||||
Impairment of goodwill, intangibles and long-lived assets | 478 | — | 12,579 | 34 | 13,090 | |||||||||||||||||||||||||||
Acquisition-related amortization | 189 | 31 | 324 | — | 545 | |||||||||||||||||||||||||||
Acquisition-related costs | 60 | 9 | 458 | (115) | 412 | |||||||||||||||||||||||||||
Certain legal and regulatory accruals and settlements | 324 | — | — | — | 324 | |||||||||||||||||||||||||||
Transformational cost management | 274 | 22 | 5 | 5 | 306 | |||||||||||||||||||||||||||
Adjustments to equity earnings in Cencora | 72 | — | — | — | 72 | |||||||||||||||||||||||||||
LIFO provision | 48 | — | — | — | 48 | |||||||||||||||||||||||||||
Adjusted operating income (loss) (Non-GAAP measure) | $ | 1,446 | $ | 387 | $ | (129) | $ | (117) | $ | 1,588 |
Six months ended February 28, 2023 | ||||||||||||||||||||||||||||||||
U.S. Retail Pharmacy | International | U.S. Healthcare | Corporate and Other | Walgreens Boots Alliance, Inc. | ||||||||||||||||||||||||||||
Operating (loss) income (GAAP) | $ | (5,385) | $ | 459 | $ | (909) | $ | (119) | $ | (5,954) | ||||||||||||||||||||||
Certain legal and regulatory accruals and settlements | 6,981 | — | — | — | 6,981 | |||||||||||||||||||||||||||
Transformational cost management | 265 | 11 | — | 7 | 283 | |||||||||||||||||||||||||||
Acquisition-related amortization | 155 | 29 | 392 | — | 577 | |||||||||||||||||||||||||||
Acquisition-related costs | 1 | (32) | 206 | 12 | 187 | |||||||||||||||||||||||||||
Adjustments to equity earnings in Cencora | 117 | — | — | — | 117 | |||||||||||||||||||||||||||
LIFO provision | 38 | — | — | — | 38 | |||||||||||||||||||||||||||
Adjusted operating income (loss) (Non-GAAP measure) | $ | 2,172 | $ | 468 | $ | (311) | $ | (100) | $ | 2,229 |
WBA
Q2 2024 Form 10-Q | 53 |
Three months ended | Six months ended | |||||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||
Net (loss) earnings attributable to Walgreens Boots Alliance, Inc. (GAAP) | $ | (5,908) | $ | 703 | $ | (5,975) | $ | (3,018) | ||||||||||||||||||
Adjustments to operating (loss) income: | ||||||||||||||||||||||||||
Acquisition-related amortization 1 | 270 | 247 | 545 | 577 | ||||||||||||||||||||||
Acquisition-related costs 2 | 249 | 148 | 412 | 187 | ||||||||||||||||||||||
Transformational
cost management 3 | 197 | 145 | 306 | 283 | ||||||||||||||||||||||
Adjustments to equity earnings in Cencora 4 | 22 | 31 | 72 | 117 | ||||||||||||||||||||||
LIFO
provision 5 | — | 20 | 48 | 38 | ||||||||||||||||||||||
Impairment of goodwill, intangibles and long-lived assets 6 | 13,090 | — | 13,090 | — | ||||||||||||||||||||||
Certain
legal and regulatory accruals and settlements 7 | 242 | 427 | 324 | 6,981 | ||||||||||||||||||||||
Total adjustments to operating (loss) income | 14,071 | 1,018 | 14,797 | 8,183 | ||||||||||||||||||||||
Adjustments to other income (expense), net: | ||||||||||||||||||||||||||
Loss on certain non-hedging derivatives 8 | 522 | — | 888 | — | ||||||||||||||||||||||
Gain
on sale of equity method investment 9 | (712) | (544) | (852) | (1,513) | ||||||||||||||||||||||
Loss on disposal of business 10 | — | — | 4 | — | ||||||||||||||||||||||
Total adjustments to other income (expense), net | (190) | (544) | 40 | (1,513) | ||||||||||||||||||||||
Adjustments to interest expense, net: | ||||||||||||||||||||||||||
Interest
expense on debt 11 | 6 | — | 6 | — | ||||||||||||||||||||||
Total adjustments to interest expense, net | 6 | — | 6 | — | ||||||||||||||||||||||
Adjustments to income tax (benefit) provision: | ||||||||||||||||||||||||||
Tax impact of adjustments 12 | (595) | (122) | (798) | (1,560) | ||||||||||||||||||||||
Equity method non-cash tax 12 | 11 | 14 | 15 | 23 | ||||||||||||||||||||||
Total adjustments to income tax (benefit) provision | (584) | (108) | (783) | (1,537) | ||||||||||||||||||||||
Adjustments to post-tax earnings from other equity method investments: | ||||||||||||||||||||||||||
Adjustments
to earnings in other equity method investments 13 | 9 | 13 | 19 | 22 | ||||||||||||||||||||||
Total adjustments to post-tax earnings from other equity method investments | 9 | 13 | 19 | 22 | ||||||||||||||||||||||
Adjustments to net loss attributable to non-controlling interests: | ||||||||||||||||||||||||||
Impairment of goodwill, intangibles and long-lived assets 6 | (6,195) | — | (6,195) | — | ||||||||||||||||||||||
Acquisition-related costs 2 | (116) | (40) | (186) | (54) | ||||||||||||||||||||||
Acquisition-related
amortization 1 | (58) | (42) | (116) | (78) | ||||||||||||||||||||||
Total adjustments to net loss attributable to non-controlling interests | (6,369) | (82) | (6,497) | (133) | ||||||||||||||||||||||
WBA
Q2 2024 Form 10-Q | 54 |
Adjusted net earnings attributable to Walgreens Boots Alliance, Inc. (Non-GAAP measure) | $ | 1,036 | $ | 1,000 | $ | 1,607 | $ | 2,004 | ||||||||||||||||||
Diluted
net (loss) earnings per common share (GAAP) 14 | $ | (6.85) | $ | 0.81 | $ | (6.93) | $ | (3.50) | ||||||||||||||||||
Adjustments to operating (loss) income | 16.27 | 1.18 | 17.12 | 9.47 | ||||||||||||||||||||||
Adjustments to other income (expense), net | (0.22) | (0.63) | 0.05 | (1.75) | ||||||||||||||||||||||
Adjustments to interest expense, net | 0.01 | — | 0.01 | — | ||||||||||||||||||||||
Adjustments to income tax (benefit) provision | (0.68) | (0.12) | (0.91) | (1.78) | ||||||||||||||||||||||
Adjustments to post-tax earnings from other equity method investments | 0.01 | 0.02 | 0.02 | 0.03 | ||||||||||||||||||||||
Adjustments to net loss attributable to non-controlling interests | (7.37) | (0.09) | (7.52) | (0.15) | ||||||||||||||||||||||
Adjusted diluted net earnings per common share (Non-GAAP measure) 15 | $ | 1.20 | $ | 1.16 | $ | 1.86 | $ | 2.32 | ||||||||||||||||||
Weighted
average common shares outstanding, diluted (in millions) 15 | 864.6 | 863.4 | 864.3 | 863.8 |
Three months ended | Six months ended | |||||||||||||||||||||||||
February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 | |||||||||||||||||||||||
Operating loss (GAAP) 16 | $ | (13,059) | $ | (472) | $ | (13,494) | $ | (909) | ||||||||||||||||||
Impairment
of goodwill, intangibles and long-lived assets 6 | 12,579 | — | 12,579 | — | ||||||||||||||||||||||
Acquisition-related amortization 1 | 159 | 154 | 324 | 392 | ||||||||||||||||||||||
Acquisition-related
costs 2 | 285 | 158 | 458 | 206 | ||||||||||||||||||||||
Transformational cost management 3 | 3 | — | 5 | — | ||||||||||||||||||||||
Adjusted operating loss | (34) | (159) | (129) | (311) | ||||||||||||||||||||||
Depreciation expense | 38 | 34 | 81 | 49 | ||||||||||||||||||||||
Stock-based
compensation expense 17 | 13 | 16 | 26 | 29 | ||||||||||||||||||||||
Adjusted EBITDA (Non-GAAP measure) | $ | 17 | $ | (109) | $ | (22) | $ | (233) |
1 | Acquisition-related amortization includes amortization of acquisition-related intangible assets, inventory valuation adjustments and stock-based compensation fair valuation adjustments. Amortization of acquisition-related intangible assets includes amortization of intangible assets such as customer relationships, trade names, trademarks, developed technology and contract intangibles. Intangible asset amortization excluded from the related non-GAAP measure represents the entire amount recorded within the Company’s GAAP financial statements. The revenue generated by the associated intangible assets has not been excluded from the related non-GAAP measures. Amortization expense, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired, or the estimated useful life of an intangible asset is revised. These charges are primarily recorded within Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. The stock-based compensation fair valuation adjustment reflects the difference between the fair value based remeasurement of awards under purchase accounting and the grant date fair valuation. Post-acquisition compensation expense recognized in excess of the original grant date fair value of acquiree awards are excluded from the related non-GAAP measures as these arise from acquisition-related accounting requirements or agreements, and are not reflective of normal operating activities. | ||||
2 | Acquisition-related costs are transaction and integration costs associated with certain merger, acquisition and divestitures related activities recorded in Operating (loss) income within the Consolidated Condensed Statement of Earnings. Examples of such costs include deal costs, severance, stock-based compensation, employee transaction success bonuses, and other integration related exit and disposal charges. These charges are primarily recorded within Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. These costs are significantly impacted by the timing and complexity of the underlying merger, acquisition and divestitures related activities and do not reflect the Company’s current operating performance. |
WBA Q2 2024 Form 10-Q | 55 |
3 | Transformational Cost Management Program charges are costs associated with a formal restructuring plan. These charges are primarily recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. These costs do not reflect current operating performance and are impacted by the timing of restructuring activity. | ||||
4 | Adjustments to equity earnings in Cencora consist of the Company’s proportionate share of non-GAAP adjustments reported by Cencora consistent with the Company’s non-GAAP measures. | ||||
5 | The Company’s U.S. Retail Pharmacy segment inventory is accounted for using the last-in-first-out (“LIFO”) method. This adjustment represents the impact on cost of sales as if the U.S. Retail Pharmacy segment inventory is accounted for using first-in first-out (“FIFO”) method. The LIFO provision is affected by changes in inventory quantities, product mix, and manufacturer pricing practices, which may be impacted by market and other external influences. Therefore, the Company cannot control the amounts recognized or timing of these items. | ||||
6 | Impairment of goodwill, intangibles and long-lived assets recognized in the three months ended February 29, 2024 resulting from the interim goodwill impairment assessment for the VillageMD reporting unit. These charges do not relate to the ordinary course of the Company’s business. The Company excludes these charges when evaluating operating performance because it does not incur such charges on a predictable basis and exclusion of such charges enables more consistent evaluation of the Company’s operating performance. These charges are recorded within Selling, general and administrative expenses and Impairment of goodwill within the Consolidated Condensed Statements of Earnings. | ||||
7 | Certain legal and regulatory accruals and settlements relate to significant charges associated with certain legal proceedings, including legal defense costs. The Company excludes these charges when evaluating operating performance because it does not incur such charges on a predictable basis and exclusion of such charges enables more consistent evaluation of the Company’s operating performance. These charges are recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. In fiscal 2023, the Company recorded charges related to the opioid litigation settlement frameworks and certain other legal matters. | ||||
8 | Includes fair value gains or losses on the VPF derivatives and certain derivative instruments used as economic hedges of the Company’s net investments in foreign subsidiaries. These charges are recorded within Other income (expense), net. The Company does not believe this volatility related to the mark-to-market adjustments on the underlying derivative instruments reflects the Company’s operational performance. | ||||
9 | Gains on the sale of equity method investments are recorded in Other income (expense), net within the Consolidated Condensed Statements of Earnings. The Company excludes these charges when evaluating operating performance because these do not relate to the ordinary course of the Company’s business. | ||||
10 | Includes losses related to the sale of businesses. These charges are recorded in Other income (expense) net, within the Consolidated Condensed Statements of Earnings. | ||||
11 | Includes interest expense on external debt to fund incremental contributions to the Boots Plan required to complete the Trustee's acquisition of a bulk annuity policy (the "Buy-In") from Legal & General. The payments and related incremental interest expense are not indicative of normal operating performance. | ||||
12 | Adjustments to income tax (benefit) provision include adjustments to the GAAP basis tax benefit commensurate with non-GAAP adjustments and certain discrete tax items including U.S. and UK tax law changes and equity method non-cash tax. These charges are recorded in Income tax (benefit) provision within the Consolidated Condensed Statements of Earnings. | ||||
13 | Adjustments to post-tax earnings from other equity method investments consist of the proportionate share of certain equity method investees’ non-cash items or unusual or infrequent items consistent with the Company’s non-GAAP adjustments. These charges are recorded in Post-tax earnings from other equity method investments within the Consolidated Condensed Statements of Earnings. Although the Company may have shareholder rights and board representation commensurate with its ownership interests in these equity method investees, adjustments relating to equity method investments are not intended to imply that the Company has direct control over their operations and resulting revenue and expenses. Moreover, these non-GAAP financial measures have limitations in that they do not reflect all revenue and expenses of these equity method investees. | ||||
14 | Due to the anti-dilutive effect resulting from periods where the Company reports a net loss, the impact of potentially dilutive securities on the per share amounts has been omitted from the calculation of weighted-average common shares outstanding for diluted net loss per common share. | ||||
15 | Includes impact of potentially dilutive securities in the calculation of weighted-average common shares, diluted for adjusted diluted net earnings per common share calculation purposes. | ||||
16 | The Company reconciles Adjusted EBITDA for the U.S. Healthcare segment to Operating loss as the closest GAAP measure for the segment profitability. The Company does not measure Net earnings attributable to Walgreens Boots Alliance, Inc. for its segments. | ||||
17 | Includes GAAP stock-based compensation expense excluding expenses related to acquisition-related amortization and acquisition-related costs. |
WBA Q2 2024 Form 10-Q | 56 |
WBA Q2 2024 Form 10-Q | 57 |
Six months ended | ||||||||||||||
February 29, 2024 | February 28, 2023 | |||||||||||||
U.S. Retail Pharmacy | $ | 661 | $ | 756 | ||||||||||
International | 138 | 143 | ||||||||||||
U.S. Healthcare | 59 | 208 | ||||||||||||
Total additions to property, plant and equipment | $ | 858 | $ | 1,108 |
WBA Q2 2024 Form 10-Q | 58 |
Rating agency | Senior unsecured debt rating | Commercial paper rating | Outlook | ||||||||
Moody’s | Ba2 | NP | Stable outlook | ||||||||
Standard & Poor’s | BBB- | A-3 | Negative outlook |
WBA Q2 2024 Form 10-Q | 59 |
WBA
Q2 2024 Form 10-Q | 60 |
WBA Q2 2024 Form 10-Q | 61 |
WBA Q2 2024 Form 10-Q | 62 |
WBA
Q2 2024 Form 10-Q | 63 |
Issuer purchases of equity securities | ||||||||||||||||||||||||||
Period | Total number of shares purchased by month | Average price paid per share | Total number of shares purchased by month as part of publicly announced plans or programs 1 | Approximate dollar value of shares that may yet be purchased under the plans or programs 1 | ||||||||||||||||||||||
12/01/23 - 12/31/23 | — | $ | — | — | $ | 2,003,419,960 | ||||||||||||||||||||
01/01/24 - 01/31/24 | — | — | — | 2,003,419,960 | ||||||||||||||||||||||
02/01/23 - 02/29/24 | — | — | — | 2,003,419,960 | ||||||||||||||||||||||
— | — |
WBA Q2 2024 Form 10-Q | 64 |
Exhibit No. | Description | SEC Document Reference | ||||||||||||
Second Amendment to Agreement and Plan of Merger, dated as of January 3, 2023, by and among WP CityMD Topco LLC, Village Practice Management Company Holdings, LLC, Village Practice Management Company, LLC and Project Teton Merger Sub LLC. | Incorporated by reference to Exhibit 2.2 to Walgreens Boots Alliance, Inc.’s Current Report on Form 8-K (File No. 1-36759) filed with the SEC on January 5, 2023. | |||||||||||||
Amended and Restated Certificate of Incorporation of Walgreens Boots Alliance, Inc. | Incorporated by reference to Exhibit 3.1 to Walgreens Boots Alliance, Inc.’s Current Report on Form 8-K12B (File No. 1-36759) filed with the SEC on December 31, 2014. | |||||||||||||
Amended and Restated Bylaws of Walgreens Boots Alliance, Inc. | Incorporated by reference to Exhibit 3.1 to Walgreens Boots Alliance, Inc.’s Current Report on Form 8-K (File No. 1-36759) filed with the SEC on January 31, 2023. | |||||||||||||
10.1* | Offer Letter agreement between Walgreens Boots Alliance, Inc. and Manmohan Mahajan, dated January 31, 2024. | |||||||||||||
Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||||||||||||||
Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | Filed herewith. | |||||||||||||
Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | Furnished herewith. | |||||||||||||
Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | Furnished herewith. | |||||||||||||
101.INS | Inline XBRL Instance Document (The following financial information from this Quarterly Report on Form 10-Q for the quarter ended February 29, 2024 formatted in Inline XBRL (Extensive Business Reporting Language) includes: (i) the Consolidated Condensed Balance Sheets; (ii) the Consolidated Condensed Statements of Equity; (iii) the Consolidated Condensed Statements of Earnings; (iv) the Consolidated Condensed Statements of Comprehensive Income; (v) the Consolidated Condensed Statements of Cash Flows; and (vi) Notes Financial Statements). | Filed herewith. | ||||||||||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | Filed herewith. | ||||||||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | Filed herewith. | ||||||||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | Filed herewith. | ||||||||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | Filed herewith. | ||||||||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | Filed herewith. | ||||||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL document and included in Exhibit 101) | Filed herewith. |
WBA Q2 2024 Form 10-Q | 65 |
WBA Q2 2024 Form 10-Q | 66 |
Walgreens Boots Alliance, Inc. | |||||
(Registrant) | |||||
Dated: March 28, 2024 | /s/ Manmohan Mahajan | ||||
Manmohan Mahajan | |||||
Executive Vice President and Global Chief Financial Officer | |||||
Principal Financial Officer | |||||
Dated: March 28, 2024 | /s/ Todd D. Heckman | ||||
Todd D. Heckman | |||||
Senior Vice President, Global Controller and Chief Accounting Officer | |||||
Principal Accounting Officer |
WBA Q2 2024 Form 10-Q | 67 |
This ‘10-Q’ Filing | Date | Other Filings | ||
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6/17/27 | ||||
11/17/26 | ||||
8/9/26 | ||||
1/3/26 | ||||
12/15/24 | ||||
11/24/24 | ||||
6/6/24 | ||||
Filed on: | 3/28/24 | 8-K | ||
3/27/24 | ||||
3/20/24 | ||||
3/19/24 | ||||
3/5/24 | 4 | |||
3/1/24 | 4 | |||
For Period end: | 2/29/24 | |||
2/20/24 | ||||
2/7/24 | 144, 4 | |||
2/6/24 | 8-K | |||
1/31/24 | 4, 8-K | |||
12/29/23 | ||||
12/15/23 | ||||
12/7/23 | ||||
11/30/23 | 10-Q | |||
11/23/23 | ||||
11/22/23 | 10-K/A | |||
11/17/23 | ||||
11/14/23 | 4, SC 13D/A | |||
11/9/23 | 144, 4 | |||
11/4/23 | ||||
10/31/23 | ||||
10/23/23 | 3 | |||
10/10/23 | 8-K, SC 13G/A | |||
9/22/23 | 8-K/A | |||
9/1/23 | 8-K | |||
8/31/23 | 10-K, 10-K/A, 8-K, 8-K/A, ARS | |||
8/23/23 | ||||
8/9/23 | 8-K | |||
8/7/23 | 3, 4, SC 13D/A | |||
8/4/23 | ||||
8/3/23 | 4 | |||
6/15/23 | 144, 4 | |||
6/8/23 | 144 | |||
5/11/23 | 144, 4 | |||
3/31/23 | 4 | |||
3/3/23 | 4, SC 13D/A | |||
2/28/23 | 10-Q | |||
1/31/23 | 8-K, SC 13G/A | |||
1/5/23 | 10-Q, 8-K | |||
1/3/23 | 8-K, 8-K/A | |||
12/28/22 | ||||
12/19/22 | 8-K | |||
12/15/22 | ||||
12/12/22 | 4, SC 13D/A | |||
12/9/22 | 144 | |||
11/30/22 | 10-Q | |||
11/2/22 | 8-K | |||
9/23/22 | ||||
8/31/22 | 10-K, 10-K/A | |||
6/17/22 | 8-K | |||
6/10/22 | ||||
5/5/22 | 8-K | |||
12/17/21 | 3, S-3ASR | |||
11/17/21 | 8-K | |||
11/15/21 | 8-K | |||
10/12/21 | ||||
10/8/21 | ||||
3/19/21 | ||||
9/1/19 | ||||
8/13/19 | ||||
12/20/18 | 10-Q, 8-K, S-3ASR | |||
6/28/18 | 10-Q, 8-K | |||
12/11/17 | ||||
3/23/17 | ||||
12/31/14 | 3, 4, 4/A, 8-K12B, POSASR, S-8, S-8 POS, SC 13D | |||
7/1/10 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/31/23 Walgreens Boots Alliance, Inc. 8-K:5,9 1/26/23 12:421K Donnelley … Solutions/FA 1/05/23 Walgreens Boots Alliance, Inc. 8-K:1,2,8,9 1/03/23 15:1.7M Donnelley … Solutions/FA 12/31/14 Walgreens Boots Alliance, Inc. 8-K12B:1,2,12/31/14 12:1.2M Donnelley … Solutions/FA |