CARDINAL HEALTH INC, 10-Q filed on 2/5/2026
Quarterly Report
v3.25.4
Cover Page - shares
 6 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2025  
Document Transition Report false  
Entity File Number 1-11373  
Entity Registrant Name Cardinal Health, Inc.  
Entity Central Index Key 0000721371  
Current Fiscal Year End Date --06-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Entity Incorporation, State or Country Code OH  
Entity Tax Identification Number 31-0958666  
Entity Address, Address Line One 7000 Cardinal Place  
Entity Address, City or Town Dublin  
Entity Address, State or Province OH  
Entity Address, Postal Zip Code 43017  
City Area Code 614  
Local Phone Number 757-5000  
Title of 12(b) Security Common shares (without par value)  
Trading Symbol CAH  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   235,316,016
v3.25.4
Condensed Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]        
Revenue $ 65,627 $ 55,264 $ 129,636 $ 107,541
Cost of products sold 63,230 53,323 124,920 103,698
Gross margin 2,397 1,941 4,716 3,843
Operating expenses:        
Distribution, selling, general and administrative expenses 1,504 1,306 2,965 2,583
Restructuring and employee severance 21 9 41 33
Amortization and other acquisition-related costs 130 105 234 179
Acquisition-related cash and share-based compensation costs 67   131  
Impairments and (gain)/loss on disposal of assets, net (14) 3 (12) 2
Litigation (recoveries)/charges, net (18) (31) (18) (71)
Operating earnings 707 549 1,375 1,117
Other (income)/expense, net (11) 3 (21) (2)
Interest expense, net 88 35 168 67
Earnings/(loss) before income taxes 630 511 1,228 1,052
Provision for income taxes 159 110 303 234
Net earnings/(loss) 471 401 925 818
Less: Net earnings attributable to noncontrolling interests (4) (1) (8) (2)
Net earnings attributable to Cardinal Health, Inc. $ 467 $ 400 $ 917 $ 816
Earnings per common share attributable to Cardinal Health, Inc.:        
Basic (in shares) $ 1.98 $ 1.65 $ 3.87 $ 3.37
Diluted (in shares) $ 1.97 $ 1.65 $ 3.85 $ 3.35
Weighted-average number of common shares outstanding:        
Basic (in shares) 236 242 237 242
Diluted (in shares) 237 243 238 243
Cash dividends declared per common share $ 0.5107 $ 0.5056 $ 1.0214 $ 1.0112
Acquisition-related cash and share-based compensation costs $ 67   $ 131  
v3.25.4
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net earnings/(loss) $ 471 $ 401 $ 925 $ 818
Other comprehensive income/(loss):        
Foreign currency translation adjustments and other 9 (16) 5 (11)
Net unrealized loss on derivative instruments, net of tax (3) (9) (3) (2)
Total other comprehensive income/(loss), net of tax 6 (25) 2 (13)
Total comprehensive income 477 376 927 805
Less: Net earnings attributable to noncontrolling interests (4) (1) (8) (2)
Total comprehensive income attributable to Cardinal Health, Inc. $ 473 $ 375 $ 919 $ 803
v3.25.4
Condensed Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Millions
Dec. 31, 2025
Jun. 30, 2025
Current assets:    
Cash and equivalents $ 2,777 $ 3,874
Trade receivables, net 13,662 13,242
Inventories, net 20,116 16,831
Prepaid expenses and other 2,675 2,414
Assets held for sale 0 12
Total current assets 39,230 36,373
Property and equipment, net 2,877 2,858
Goodwill and other intangibles, net 13,978 12,177
Other assets 1,998 1,714
Total assets 58,083 53,122
Current liabilities:    
Accounts payable 38,996 34,713
Current portion of long-term obligations and other short-term borrowings 680 550
Other accrued liabilities 3,638 3,634
Total current liabilities 43,314 38,897
Long-term obligations, less current portion 8,347 7,977
Deferred income taxes and other liabilities 9,122 8,882
Preferred shares, without par value:    
Authorized—500 thousand shares, Issued—none 0 0
Common shares, without par value:    
Authorized—755 million shares, Issued—271 million shares at December 31, 2025 and June 30, 2025 2,847 2,956
Retained earnings 1,455 783
Common shares in treasury, at cost: 35 million shares and 32 million shares at December 31, 2025 and June 30, 2025, respectively (7,033) (6,365)
Accumulated other comprehensive loss (153) (155)
Total Cardinal Health, Inc. shareholders' deficit (2,884) (2,781)
Noncontrolling interests 184 147
Total shareholders’ deficit (2,700) (2,634)
Total liabilities and shareholders’ deficit $ 58,083 $ 53,122
Preferred shares, authorized 500 500
Preferred shares, issued 0 0
Common shares, authorized 755,000 755,000
Common shares, issued 271,000  
Common shares in treasury 35,000 32,000
v3.25.4
Condensed Consolidated Balance Sheets (Parenthetical) - shares
shares in Thousands
Dec. 31, 2025
Jun. 30, 2025
Statement of Financial Position [Abstract]    
Preferred shares, authorized 500 500
Preferred shares, issued 0 0
Common shares, authorized 755,000 755,000
Common shares, issued 271,000  
Common shares in treasury 35,000 32,000
v3.25.4
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
GIA Common Units
Retained Earnings
Treasury Stock, Common
Accumulated Other Comprehensive Income/(Loss)
Noncontrolling Interest
GIA [Member]
Common shares in treasury       83,000      
Balance at beginning of period (in shares) at Jun. 30, 2024   327,000          
Balance at beginning of period at Jun. 30, 2024 $ (3,212) $ 2,917 $ (286)   $ (167) $ 1  
Treasury, balance at beginning of period (in shares) at Jun. 30, 2024       (83,000)      
Treasury, balance at beginning of period at Jun. 30, 2024 (5,677)            
Balance at end of period (in shares) at Sep. 30, 2024   327,000          
Balance at end of period at Sep. 30, 2024 (3,276) $ 2,827 14   (155) 1  
Treasury, balance at end of period (in shares) at Sep. 30, 2024       (85,000)      
Treasury, balance at end of period at Sep. 30, 2024 (5,963)            
Balance at beginning of period (in shares) at Jun. 30, 2024   327,000          
Balance at beginning of period at Jun. 30, 2024 (3,212) $ 2,917 (286)   (167) 1  
Treasury, balance at beginning of period (in shares) at Jun. 30, 2024       (83,000)      
Treasury, balance at beginning of period at Jun. 30, 2024 (5,677)            
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 818         2  
Net Income (Loss) Attributable to Parent 816            
Other Comprehensive Income (Loss), Net of Tax (13)            
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (13)       (13)    
Noncontrolling Interest, Increase from Business Combination 72         72  
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture   0   1,000      
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture (45) $ (15)   $ (30)      
Purchase of treasury shares, net $ (390)   $ (375)      
Treasury shares acquired (in shares)       (3,000)      
Retirement of treasury stock 0 (56,000)   (56,000)      
Dividends $ (247)   (247)        
Stockholders' Equity, Other Shares          
Other 1       1  
Balance at end of period (in shares) at Dec. 31, 2024   271,000          
Balance at end of period at Dec. 31, 2024 (2,921) $ 2,932 283   (180) 70  
Treasury, balance at end of period (in shares) at Dec. 31, 2024       (29,000)      
Treasury, balance at end of period at Dec. 31, 2024 (6,026)            
Treasury Stock, Value, Acquired, Cost Method (379)     $ (379)      
Payments to Noncontrolling Interests 4           $ (4)
Balance at beginning of period (in shares) at Jun. 30, 2024   327,000          
Balance at beginning of period at Jun. 30, 2024 (3,212) $ 2,917 (286)   (167) 1  
Treasury, balance at beginning of period (in shares) at Jun. 30, 2024       (83,000)      
Treasury, balance at beginning of period at Jun. 30, 2024 (5,677)            
Payments to Noncontrolling Interests 12            
Balance at end of period (in shares) at Jun. 30, 2025   271,000          
Balance at end of period at Jun. 30, 2025 $ (2,634) $ 2,956 783   (155) 147  
Treasury, balance at end of period (in shares) at Jun. 30, 2025 (32,000)     32,000      
Treasury, balance at end of period at Jun. 30, 2025 $ (6,365)            
Common shares in treasury       85,000      
Balance at beginning of period (in shares) at Sep. 30, 2024   327,000          
Balance at beginning of period at Sep. 30, 2024 (3,276) $ 2,827 14   (155) 1  
Treasury, balance at beginning of period (in shares) at Sep. 30, 2024       (85,000)      
Treasury, balance at beginning of period at Sep. 30, 2024 (5,963)            
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 401         1  
Net Income (Loss) Attributable to Parent 400            
Other Comprehensive Income (Loss), Net of Tax (25)            
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (25)       (25)    
Noncontrolling Interest, Increase from Business Combination 72         72  
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture   0   0      
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture $ (43) $ (30)   $ (13)      
Purchase of treasury shares, net   $ (75)          
Treasury shares acquired (in shares)       0      
Retirement of treasury stock 0 (56,000)   (56,000)      
Dividends $ (128)   (128)        
Stockholders' Equity, Other Shares            
Other 3 (3)      
Balance at end of period (in shares) at Dec. 31, 2024   271,000          
Balance at end of period at Dec. 31, 2024 (2,921) $ 2,932 283   (180) 70  
Treasury, balance at end of period (in shares) at Dec. 31, 2024       (29,000)      
Treasury, balance at end of period at Dec. 31, 2024 (6,026)            
Treasury Stock, Value, Acquired, Cost Method $ (1)     $ (76)      
Payments to Noncontrolling Interests             $ (4)
Common shares in treasury       29,000      
Common shares in treasury 32,000     (32,000)      
Balance at beginning of period (in shares) at Jun. 30, 2025   271,000          
Balance at beginning of period at Jun. 30, 2025 $ (2,634) $ 2,956 783   (155) 147  
Treasury, balance at beginning of period (in shares) at Jun. 30, 2025 (32,000)     32,000      
Treasury, balance at beginning of period at Jun. 30, 2025 $ (6,365)            
Balance at end of period (in shares) at Sep. 30, 2025   271,000          
Balance at end of period at Sep. 30, 2025 (2,731) $ 2,746 1,116   (159) 148  
Treasury, balance at end of period (in shares) at Sep. 30, 2025       33,000      
Treasury, balance at end of period at Sep. 30, 2025 (6,582)            
Balance at beginning of period (in shares) at Jun. 30, 2025   271,000          
Balance at beginning of period at Jun. 30, 2025 $ (2,634) $ 2,956 783   (155) 147  
Treasury, balance at beginning of period (in shares) at Jun. 30, 2025 (32,000)     32,000      
Treasury, balance at beginning of period at Jun. 30, 2025 $ (6,365)            
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 925         8  
Net Income (Loss) Attributable to Parent 917            
Other Comprehensive Income (Loss), Net of Tax 2            
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 2       2    
Noncontrolling Interest, Increase from Business Combination $ 32         32  
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture 1,000 0          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture $ (20) $ (109)   $ (89)      
Purchase of treasury shares, net (758)   $ (750)      
Treasury shares acquired (in shares)       (4,000)      
Dividends (245)   (245)        
Payments to Noncontrolling Interests 4         4  
Stockholders' Equity, Other Shares   0        
Other $ (1)       (1)  
Balance at end of period (in shares) at Dec. 31, 2025 271,000 271,000          
Balance at end of period at Dec. 31, 2025 $ (2,700) $ 2,847 1,455   (153) 184  
Treasury, balance at end of period (in shares) at Dec. 31, 2025 (35,000)     (35,000)      
Treasury, balance at end of period at Dec. 31, 2025 $ (7,033)            
Treasury Stock, Value, Acquired, Cost Method (757)     $ (757)      
Payments to Noncontrolling Interests 4            
Common shares in treasury       (33,000)      
Balance at beginning of period (in shares) at Sep. 30, 2025   271,000          
Balance at beginning of period at Sep. 30, 2025 (2,731) $ 2,746 1,116   (159) 148  
Treasury, balance at beginning of period (in shares) at Sep. 30, 2025       33,000      
Treasury, balance at beginning of period at Sep. 30, 2025 (6,582)            
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 471         4  
Net Income (Loss) Attributable to Parent 467            
Other Comprehensive Income (Loss), Net of Tax 6            
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 6            
Noncontrolling Interest, Increase from Business Combination 33         33  
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture   0   0      
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture (29) $ (26)   $ (3)      
Purchase of treasury shares, net   $ (75)          
Treasury shares acquired (in shares)       (2,000)      
Retirement of treasury stock       (56,000)      
Dividends (128)   (128)        
Payments to Noncontrolling Interests $ 1         1  
Balance at end of period (in shares) at Dec. 31, 2025 271,000 271,000          
Balance at end of period at Dec. 31, 2025 $ (2,700) $ 2,847 $ 1,455   $ (153) $ 184  
Treasury, balance at end of period (in shares) at Dec. 31, 2025 (35,000)     (35,000)      
Treasury, balance at end of period at Dec. 31, 2025 $ (7,033)            
Treasury Stock, Value, Acquired, Cost Method $ (379)     $ (454)      
Common shares in treasury 35,000     35,000      
v3.25.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net earnings/(loss) $ 925 $ 818
Adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:    
Depreciation and amortization 467 374
Impairments and (gain)/loss on disposal of assets, net (12) 2
Impairments and loss on sale of other investments (5) (2)
Share-based compensation 180 60
Provision for bad debts 27 28
Change in operating assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in trade receivables (198) (253)
Increase in inventories (3,279) (1,967)
Increase/(decrease) in accounts payable 4,176 (470)
Repurchases of liability-classified units (22) 0
Other accrued liabilities and operating items, net (610) (637)
Net cash provided by/(used in) operating activities 1,659 (2,043)
Cash flows from investing activities:    
Acquisition of subsidiaries, net of cash acquired 1,925 1,076
Additions to property and equipment (239) (189)
Proceeds from disposal of property and equipment 31 0
Proceeds from short-term investment in time deposit 0 200
Net cash used in investing activities (2,122) (1,064)
Cash flows from financing activities:    
Proceeds from long-term obligations, net of issuance costs 989 2,869
Reduction of long-term obligations (524) (423)
Payments to Noncontrolling Interests 4 4
Net tax withholding from share-based compensation (81) (15)
Dividends on common shares (251) (250)
Purchase of treasury shares, net (758) (390)
Net cash provided by/(used in) financing activities (629) 1,787
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation (5) (3)
Net decrease in cash and equivalents (1,097) (1,323)
Cash and equivalents at beginning of period 3,874 5,133
Cash and equivalents at end of period 2,777 3,810
Payments to Noncontrolling Interests (4) (4)
Increase (decrease) in other investing items, net $ 11 $ 1
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies
1. Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation
Our condensed consolidated financial statements include the accounts of all majority-owned or consolidated subsidiaries, and all significant intercompany transactions and amounts have been eliminated. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of the acquisition or up to the date of disposal, respectively.
We report our financial results in two reportable segments: Pharmaceutical and Specialty Solutions ("Pharma") segment and Global Medical Products and Distribution ("GMPD") segment. All remaining operating segments that are not significant enough to require separate reportable segment disclosures are included in Other, which is comprised of Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight® Logistics.
References to "we," "our," and similar pronouns in this Quarterly Report on Form 10-Q for the quarter ended December 31, 2025 (this "Form 10-Q") are to Cardinal Health, Inc. and its majority-owned or consolidated subsidiaries unless the context requires otherwise.
Our fiscal year ends on June 30. References to fiscal 2026 and 2025 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2026 and June 30, 2025, respectively.
Our condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission ("SEC") instructions to Quarterly Reports on Form 10-Q and include the information and disclosures required by accounting principles generally accepted in the United States ("GAAP") for interim financial reporting. The preparation of financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. Actual amounts may differ from these estimated amounts.
In our opinion, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included, all such adjustments are of a normal and recurring nature. In addition, financial results presented for this fiscal 2026 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2026. These condensed consolidated financial statements are unaudited and, accordingly, should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (the "2025 Form 10-K").
Variable Interest Entities
We evaluate our ownership, contractual, and other interests in entities to determine if they are a variable interest entity (“VIE”), if we have a variable interest in those entities, and the nature and extent of those interests. These evaluations may involve management judgment and the use of estimates and assumptions based on available historical information, among other factors. Based on our evaluations, if we determine we are the primary beneficiary of such VIEs, we consolidate such entities into our financial statements.
Consolidated Variable Interest Entities
We consolidate a VIE when we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE and, as a result, are considered the primary beneficiary of the VIE.
In relation to the acquisition of The Specialty Alliance, we concluded that the The Specialty Alliance management services organization ("MSO") is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. Additionally, in relation to the acquisition of Integrated Oncology Network ("ION"), we concluded that ION is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. The Specialty Alliance and ION VIEs do not have a material impact on our condensed consolidated statements of earnings or condensed consolidated statements of cash flows. Total assets and liabilities included in the consolidated balance sheets for The Specialty Alliance and ION VIEs were $1.2 billion and $960 million, respectively, as of December 31, 2025.
Noncontrolling Interests
Noncontrolling interests represent the portion of net earnings, comprehensive income, and net assets that is not attributable to Cardinal Health, Inc. Noncontrolling interests as of December 31, 2025 primarily represents third-party equity interests in ION. See Note 2, for additional information on the acquisition of ION.
Recently Issued Financial Accounting Standards
and Disclosure Rules Not Yet Adopted
We assess the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board ("FASB") on our consolidated financial statements as well as material updates to previous assessments, if any, from the 2025 Form 10-K.
Income Tax Disclosure
In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This guidance also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be
effective for us in fiscal 2026 Form 10-K and will be applied on a prospective basis. Adoption will require enhancements to our income tax disclosures but is not expected to have a significant impact on our financial reporting, or on our operational processes, controls and governance in support of the new guidance.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), which requires disaggregated disclosures of certain categories of expenses which are included in any relevant income statement expense caption on an annual and interim basis. Additionally, the guidance requires the disclosure of total selling expenses and, in annual reporting periods, an entity's definition of selling expenses. This guidance will be effective for us in fiscal 2028 Form 10-K and should be applied on a prospective basis, with retrospective application permitted. We are currently evaluating the impact of adoption of this guidance on our disclosures.
Recently Adopted Financial Accounting Standards
There were no new material accounting standards adopted during the six months ended December 31, 2025.
v3.25.4
Business Combinations and Asset Acquisitions
 6 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
2. Acquisitions
Solaris Health
On November 3, 2025, we, through The Specialty Alliance, completed the acquisition of Solaris Health, a urology MSO, for a purchase price of approximately $1.9 billion in cash, subject to certain adjustments. In connection with the closing of this transaction, we issued common units in The Specialty Alliance to certain physicians and members of management which are estimated to have a grant date fair value of approximately $500 million, a portion of which will be recognized as post-combination expense within acquisition-related cash and share-based compensation costs. We have accounted for the acquisition of the ownership interest in Solaris as a business combination in accordance with ASC 805.
Solaris Health includes more than 750 providers across more than 250 practice locations in 14 states. Solaris Health is part of The Specialty Alliance, our multi-specialty MSO platform, and their results are reported within our Pharma segment. With the closing of this transaction, we own approximately 76% of The Specialty Alliance.
Transaction and integration costs associated with the Solaris acquisition were $37 million and $40 million during the three and six months ended December 31, 2025, respectively.
Advanced Diabetes Supply Group ("ADS")
On April 1, 2025, we completed the acquisition of ADS for a purchase price of approximately $1.0 billion in cash, subject to certain adjustments.
Transaction and integration costs associated with the ADS acquisition were $3 million and $7 million during the three and six months ended December 31, 2025, respectively.
GI Alliance ("GIA")
On January 30, 2025, we completed the acquisition of 73% ownership interest in GIA for a purchase price of approximately $2.8 billion in cash. Beginning on the third anniversary of the closing, we have the ability to exercise a call right to purchase up to 100 percent of the remaining outstanding interests.
Additionally, on May 30, 2025, we, through The Specialty Alliance, completed the acquisition of Urology America for a purchase price of $381 million in cash and equity in The Specialty Alliance.
Transaction and integration costs associated with the GIA and Urology America acquisitions were $2 million and $7 million during the three and six months ended December 31, 2025, respectively.
Integrated Oncology Network ("ION")
On December 2, 2024, we completed the acquisition of ION for a purchase price of $1.1 billion in cash.
Transaction and integration costs associated with the ION acquisition were $1 million and $18 million for the three months ended December 31, 2025 and 2024, respectively, and $2 million and $20 million during the six months ended December 31, 2025 and 2024, respectively.
Fair Value of Assets Acquired and Liabilities Assumed
The allocation of the purchase price for the acquisitions of Solaris Health, Urology America, ADS, and GIA are not yet finalized and are subject to adjustment as we complete the valuation analysis of these acquisitions. The purchase prices are also subject to adjustment based on working capital requirements as set forth in the acquisition agreements.
The allocation of the fair value of assets acquired and liabilities assumed for the ION acquisition was finalized during the six months ended December 31, 2025, resulting in goodwill of $1.1 billion and the noncontrolling interest for ION was recognized at the acquisition-date fair value of $157 million.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date for Solaris Health, Urology America, ADS, GIA and ION:
(in millions)
Solaris Health
Urology
America		ADSGIA
ION
Identifiable intangible assets:
Customer intangibles (1)
$— $— $472 $— $— 
Trade names (2)
239 33 28 200 73 
Non-competition agreements (3)
39 — — 23 — 
Total identifiable intangible assets acquired
278 33 500 223 73 
Identifiable net assets/(liabilities):
Cash and equivalents
55 4 14 53 10 
Trade receivables, net
249 23 100 175 58 
Inventories
23 3 78 21 20 
Prepaid expenses and other
73 3 7 13 7 
Property and equipment, net
54 28 1 67 39 
Other assets
191 41 377 319 45 
Accounts payable(105)(20)(104)(89)(10)
Current portion of long-term obligations and other short-term borrowings— — — (1)(3)
Other accrued liabilities(195)(12)(397)(176)(41)
Long-term obligations, less current portion— (6)— (15)(14)
Deferred income taxes and other liabilities(164)(45)(105)(889)(50)
Total identifiable net assets/(liabilities) acquired459 52 471 (299)134 
Noncontrolling interest— (9)— — (157)
Goodwill
1,681 338 578 3,084 1,092 
Total net assets acquired
$2,140 $381 $1,049 $2,785 $1,069 
(1)    The weighted-average useful life of customer intangibles is 10 years.
(2)    The weighted-average useful life of trade names ranges from 2 years to 10 years.
(3)    The weighted-average useful life of non-competition agreements is 5 years.
The valuation of identifiable intangible assets utilizes significant unobservable inputs and thus represents a Level 3 nonrecurring fair value measurement. The discount rates used to arrive at the present values of the identifiable intangible assets for Solaris Health, Urology America, ADS, GIA, and ION ranged from 7 to 20 percent and reflect their internal rates of return and uncertainty in the cash flow projections, which is reflective of market participant assumptions.
The estimated fair value of ADS customer intangibles (payor contracts) were determined using a multi-period excess earnings method, which estimates an intangible asset's value based on the present value of the incremental after-tax cash flows (or “excess earnings”) attributable only to the intangible asset.
The fair value of the Solaris Health, Urology America, ADS, GIA and ION trademark intangible assets were determined utilizing the relief from royalty method, an income-based approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.
The fair value of the non-compete intangibles acquired from Solaris Health and GIA were determined by applying the differential cash flow method which compares the present value of cash flows with and without the non-compete agreements in place.
The vested Specialty Alliance Units, formerly referred to as GIA Units, issued in relation to the GIA acquisition were recognized at their acquisition date fair value of $739 million and are included in deferred income taxes and other liabilities in the consolidated balance sheet. The Specialty Alliance Units issued and included in the purchase price of the Solaris acquisition were recognized at their acquisition date fair value of $210 million and are included in deferred income taxes and other liabilities in the consolidated balance sheet. The valuation of The Specialty Alliance Units utilizes significant unobservable inputs and thus represents a recurring Level 3 fair value measurement. The fair value of The Specialty Alliance Units in relation to the GIA acquisition was determined using a discount rate of 9.5% and an estimated weighted average service period two years. The fair value of The Specialty Alliance Units in relation to the Solaris acquisition was determined using a discount rate of 7.5% and an estimated service period of five years.
v3.25.4
Restructuring and Employee Severance
 6 Months Ended
Dec. 31, 2025
Restructuring Charges [Abstract]  
Restructuring and Employee Severance
3. Restructuring and Employee Severance
The following tables summarize restructuring and employee severance costs:
Three Months Ended December 31,
(in millions)20252024
Employee-related$15 $3 
Facility exit and other6 6 
Total restructuring and employee severance$21 $9 
Six Months Ended December 31,
(in millions)20252024
Employee-related$30 $19 
Facility exit and other11 14 
Total restructuring and employee severance$41 $33 

Employee-related costs primarily consist of termination benefits provided to employees who have been involuntarily terminated, duplicate payroll costs, and retention bonuses incurred during transition periods. Facility exit and other costs primarily consist of project consulting fees, accelerated depreciation, professional project management, and costs associated with vacant facilities.
During the three and six months ended December 31, 2025 and 2024, restructuring and employee severance costs were primarily related to the implementation of certain enterprise-wide cost-savings measures and certain initiatives to rationalize our manufacturing operations.
The following table summarizes activity related to liabilities associated with restructuring and employee severance:
(in millions)Employee-
Related Costs		Facility Exit
and Other Costs		Total
Balance at June 30, 2025$79 $— $79 
Additions19 — 19 
Payments and other adjustments(22)— (22)
Balance at December 31, 2025$76 $— $76 
v3.25.4
Goodwill and Other Intangible Assets
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
4. Goodwill and Other Intangible Assets
Goodwill
The following table summarizes the changes in the carrying amount of goodwill by segment and in total:
(in millions)Pharmaceutical and Specialty SolutionsGlobal Medical Products and DistributionOther (1)Total
Balance at June 30, 2025
$7,943 $— $1,748 $9,691 
Goodwill acquired, net of purchase price adjustments1,918 — — 1,918 
Balance at December 31, 2025$9,861 $— $1,748 $11,609 
(1) Comprised of the remaining operating segments, Nuclear and Precision Health Solutions, at-Home Solutions and OptiFreight® Logistics.
Goodwill increased in the six months ended December 31, 2025 primarily due to the Solaris acquisition in the Pharma segment. Goodwill recognized in connection with the acquisition primarily represent the expected benefits from the expected growth from new customers, the assembled workforce of the acquired entities and synergies of integrating these businesses. Substantially all of the goodwill recorded is expected to be non-deductible for income tax purposes.
Purchased goodwill is tested for impairment annually or when indicators of impairment exist. Goodwill impairment testing involves a comparison of the estimated fair value of reporting units to the respective carrying amount.
As described in Note 2, the purchase price and assumed fair value of acquisitions is allocated to specific assets, resulting in the carrying amount approximating the fair value as of the acquisition date. Accordingly, we expect minimal excess of estimated fair value over carrying value for recent acquisitions. We will continue to evaluate acquisitions and the related reporting units for indicators of impairment.


Other Intangible Assets
The following tables summarize other intangible assets by class at:
December 31, 2025
(in millions)Gross
Intangible		Accumulated
Amortization		Net
Intangible		Weighted- Average Remaining Amortization Period (Years)
Indefinite-life intangibles:
Trademarks and patents$14 $— $14 N/A
Total indefinite-life intangibles14 — 14 N/A
Definite-life intangibles:
Customer intangibles
3,632 2,720 912 10
Trademarks, trade names and patents1,583 503 1,080 8
Developed technology and other1,030 752 278 6
Non-Competition Agreements
111 26 85 4
Total definite-life intangibles6,356 4,001 2,355 9
Total other intangible assets$6,370 $4,001 $2,369 N/A
June 30, 2025
(in millions)Gross
Intangible		Accumulated
Amortization		Net
Intangible
Indefinite-life intangibles:
Trademarks and patents$13 $— $13 
Total indefinite-life intangibles13 — 13 
Definite-life intangibles:
Customer intangibles
3,876 2,639 1,237 
Trademarks, trade names and patents1,340 459 881 
Developed technology and other1,030 726 304 
Non-Competition Agreements
72 21 51 
Total definite-life intangibles6,318 3,845 2,473 
Total other intangible assets$6,331 $3,845 $2,486 

Total amortization of intangible assets was $84 million and $69 million for the three months ended December 31, 2025 and 2024, respectively, and $171 million and $137 million for the six months ended December 31, 2025 and 2024, respectively.

The following table summarizes the estimated amortization expense for the remainder of fiscal 2026 through fiscal 2030:
(in millions)
Estimated Amortization Expense
2026
$193 
2027382 
2028349 
2029327 
2030306 
v3.25.4
Commitments, Contingent Liabilities and Litigation
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments, Contingent Liabilities and Litigation
6. Commitments, Contingent Liabilities and Litigation
Commitments
Generic Sourcing Venture with CVS Health
In July 2014, we established Red Oak Sourcing, LLC ("Red Oak Sourcing"), a U.S.-based generic pharmaceutical sourcing venture with CVS Health for an initial term of 10 years. Red Oak Sourcing negotiates generic pharmaceutical supply contracts on behalf of its participants. In August 2021, we amended our agreement to extend the term through June 2029. We are required to make quarterly payments to CVS Health for the term of the arrangement.
Contingencies
New York Opioid Stewardship Act
In 2018, the State of New York adopted the Opioid Stewardship Act (the "OSA"), which created an aggregate $100 million annual assessment on all manufacturers and distributors that was assessed based on each manufacturer or distributor's share of the total morphine milligram equivalents sold or distributed in New York, the applicability of which was ultimately limited to two years (2017 and 2018).
Since fiscal 2021, we have made certain payments to New York State for our portion of the assessment. However, we, and other distributors, challenged the OSA as unconstitutional. In May 2024, the New York Appellate Division held that the 2017 assessment was unconstitutionally retroactive, directing a refund of assessments paid for calendar year 2017, but upheld the 2018 assessment. In fiscal 2025, both parties agreed to a final settlement and in December 2025, we received payment and recognized a gain of $17 million in distribution, selling, general and administrative expenses in our condensed consolidated statements of earnings.
Legal Proceedings
We become involved from time to time in disputes, litigation and regulatory matters.
From time to time, we determine that products we distribute, source, manufacture or market do not meet our specifications, regulatory requirements, or published standards. When we or a regulatory agency identify a potential quality or regulatory issue, we investigate and take appropriate corrective action. Such actions
have led to product recalls, costs to repair or replace affected products, temporary interruptions in product sales, restrictions on importation, product liability claims and lawsuits and can lead to action by regulators. Even absent an identified regulatory or quality issue or product recall, we can become subject to product liability claims and lawsuits.
From time to time, we become aware through employees, internal audits or other parties of possible compliance matters, such as complaints or concerns relating to accounting, internal accounting controls, financial reporting, auditing, or other ethical matters or relating to compliance with laws such as healthcare fraud and abuse, anti-corruption or anti-bribery laws. When we become aware of such possible compliance matters, we investigate internally and take appropriate corrective action. In addition, from time to time, we receive subpoenas or requests for information from various federal or state agencies relating to our business or to the business of a customer, supplier or other industry participants. Internal investigations, subpoenas or requests for information could directly or indirectly lead to the assertion of claims or the commencement of legal proceedings against us or result in sanctions.
We have been named from time to time in qui tam actions initiated by private third parties. In such actions, the private parties purport to act on behalf of federal or state governments, allege that false claims have been submitted for payment by the government and may receive an award if their 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 his or her own purporting to act on behalf of the government.
We accrue for contingencies related to disputes, litigation and regulatory matters if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because these matters are inherently unpredictable and unfavorable developments or resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. We regularly review contingencies to determine whether our accruals and related disclosures are adequate. The amount of ultimate loss may differ from these estimates.
We recognize income from the favorable outcome of litigation when we receive the associated cash or assets.
We recognize estimated loss contingencies for certain litigation and regulatory matters and income from favorable resolution of litigation in litigation (recoveries)/charges, net in our condensed consolidated statements of earnings; however, losses and recoveries of lost profits from disputes that occur in the ordinary course of business are included within segment profit.
Opioid Lawsuits and Investigations
As of December 31, 2025, we have $4.3 billion accrued for the opioid-related matters described below, of which $477 million is included in other accrued liabilities and the remainder is included in deferred income taxes and other liabilities in our condensed consolidated balance sheets. During the six months ended December 31, 2025 and fiscal year 2025, we made payments totaling $403 million and $798 million, respectively, which included our annual payments under the agreement to settle the vast majority of the opioid lawsuits filed by states and local governmental entities and payments related to the settlement agreement with the City of Baltimore and classes of third-party payors and acute care hospitals.
During the six months ended December 31, 2025 and fiscal year 2025, there were no material expenses recognized for these matters.
States & Political Subdivisions
In April 2022, we along with two other national distributors (collectively, the "Distributors"), without admitting liability or wrongdoing, became parties to National Opioid Settlement Agreement ("the NOSA") to settle the vast majority lawsuits and claims brought by states and political subdivisions related to the distribution of opioid pain medications. In addition to the Distributors, parties to the NOSA include 48 states, the District of Columbia and 5 U.S. territories. The NOSA also resulted in the resolution of the opioid-related claims of over 99 percent of political subdivisions in settling states (together with settling states and territories, the "Settling Governmental Entities").
To date, we have paid the Settling Governmental Entities approximately $2.2 billion and we expect to pay the Settling Governmental Entities additional amounts up to $4.1 billion through 2038. As required under the NOSA, a monitor is overseeing compliance with the Injunctive Relief provisions of the NOSA until 2027 and the distributors have engaged a third-party vendor to act as a clearinghouse for data aggregation and reporting, which distributors will fund until 2032.
West Virginia subdivisions and Native American tribes were not a part of the NOSA. In July 2022, we entered into separate agreements to settle the opioid-related claims of the majority of remaining West Virginia subdivisions and Native American Tribes for approximately $124 million over eleven years and $136 million over five years, respectively.
We have now resolved the opioid-related claims of all 50 states and the District of Columbia; however, lawsuits brought by certain subdivisions remain outstanding.
In July 2022, a judgment in favor of the Distributors was entered in a bench trial before a federal judge in West Virginia in a case brought by Cabell County and City of Huntington. In October 2025, the United States Court of Appeals for the Fourth Circuit vacated the district court's judgment and remanded the case for further proceedings. A hearing is scheduled for March, 2026. We intend to vigorously defend ourselves in this matter.
Private Plaintiffs
The NOSA does not address claims by private parties, which includes unions and other health and welfare funds, hospital systems and other healthcare providers, businesses, and individuals alleging personal injury. To date, there are approximately 193 lawsuits brought by private plaintiffs pending. Of these, approximately 51 are purported class actions. The causes of action asserted by these plaintiffs are similar to those asserted by public plaintiffs. We are vigorously defending ourselves in all of these matters.
Following resolution discussions with certain private plaintiffs, during the six months ended December 31, 2024, Distributors finalized agreements with classes of third-party payors and acute care hospitals. Our portion of these settlements totaled $213 million. The settlement with the class of third-party payors was approved by the court in January 2025 and was finalized in August 2025. The settlement with the class of acute care hospitals was approved by the court in March 2025 and became final in April 2025.
Insurance Litigation
We are involved in lawsuits in Ohio State court with insurers related to their obligations to reimburse us for defense and indemnity costs in connection with the lawsuits described above. A hearing in one of these matters is scheduled for February 5, 2026. An unfavorable outcome in this matter may result in a change in loss reserves related to opioid litigation recorded by our captive insurance company, which would negatively impact cash flow.
During the six months ended December 31, 2025, we received $5 million in insurance recoveries related to opioid matters, which were recorded in the Pharma segment. During fiscal 2025, we received $25 million in insurance recoveries related to opioid matters. $12 million of the recoveries from our insurers were recorded in the Pharma segment. We have not recorded a receivable for any additional recoveries related to these insurance litigation matters as of December 31, 2025.
Department of Justice Civil Investigative Demand
In November 2023, we received a Civil Investigative Demand ("CID") from the Department of Justice focused on potential violations of the Anti-Kickback Statute and False Claims Act in connection with a 2022 transaction in which we purchased a minority ownership interest in a rheumatology managed services organization and a group purchasing organization. We are cooperating with this investigation.
Cordis IVC Filter Matters
We have been named as a defendant in product liability lawsuits involving claims by plaintiffs that allege personal injuries associated with the use of inferior vena cava ("IVC") filter products. These lawsuits sought a variety of remedies, including unspecified monetary damages. The divestiture of the Cordis business did not include product liability related to the IVC filters in the U.S. and Canada, which we retained.
In April 2023, we executed a settlement agreement that will resolve approximately 4,375 claims for $275 million, which we have paid into a qualified settlement fund. Payments to qualified implantees are being made out of the qualified settlement fund and we expect continued payments as additional plaintiffs meet the procedural requirements.
We have also entered into other agreements, which, in addition to the settlement discussed above, resolved the vast majority of IVC filter product liability claims. These settlements did not resolve all IVC filter product liability claims, and we intend to continue to vigorously defend ourselves in the remaining lawsuits.
At December 31, 2025, we had a total of $36 million accrued for losses and legal defense costs, related to the IVC filter product liability lawsuits in our condensed consolidated balance sheets, which includes the $35 million in the qualified settlement fund.
Tax Contingency
On February 2, 2026, we received a Notice of Proposed Adjustment (NOPA) from the Internal Revenue Service (IRS), as part of our ongoing FY15-FY20 audit cycle, related to a restructuring in connection with our July 2017 acquisition of the Patient Recovery business. The IRS is asserting that the transaction should be recharacterized in a manner that could create additional federal income tax liability of approximately $160 million, plus interest. We routinely assess the likelihood of adverse outcomes resulting from audits and examinations to determine the adequacy of our tax reserves and we believe we have adequate reserves for all tax matters; however, the ultimate outcome of disputes of this nature is uncertain and if the IRS were to prevail on its assertions in connection with this matter, the assessed tax and deficiency interest would impact our financial results and cash flow.
Antitrust Litigation Proceeds
We recognized income for net recoveries in class action antitrust lawsuits in which we were a class member or plaintiff of $19 million during both the three and six months ended December 31, 2025 and $16 million and $59 million during the three and six months ended December 31, 2024, respectively.
v3.25.4
Income Taxes
 6 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
7. Income Taxes
Fluctuations in our provision for income taxes as a percentage of pre-tax earnings (“effective tax rate”) are due to changes in international and U.S. state effective tax rates resulting from our business mix and discrete items.
Effective Tax Rate
During the three and six months ended December 31, 2025, the effective tax rate was 25.2 percent and 24.7 percent, respectively.
During the three and six months ended December 31, 2024, the effective tax rate was 21.4 percent and 22.2 percent, respectively.
Unrecognized Tax Benefits
We had $903 million and $879 million of unrecognized tax benefits, at December 31, 2025 and June 30, 2025, respectively. The December 31, 2025 and June 30, 2025 balances include $877 million and $871 million of unrecognized tax benefits, respectively, that if recognized, would have an impact on the effective tax rate.
At December 31, 2025 and June 30, 2025, we had $77 million and $65 million, respectively, accrued for the payment of interest and penalties related to unrecognized tax benefits, which we recognize in the provision for income taxes in the condensed consolidated statements of earnings. These balances are gross amounts before any tax benefits and are included in deferred income taxes and other liabilities in the condensed consolidated balance sheets.
It is reasonably possible that there could be a change in the amount of unrecognized tax benefits within the next 12 months due to activities of the U.S. Internal Revenue Service ("IRS") or other taxing authorities, possible settlement of IRS and other audit issues, reassessment of existing unrecognized tax benefits or the expiration of statutes of limitations.
Other Tax Matters
We file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions, and various foreign jurisdictions. With few exceptions, we are subject to audit by taxing authorities for fiscal years 2015 through the current fiscal year.
On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law, which includes a broad range of tax reform provisions. The OBBBA includes changes to existing tax law, including extending or making permanent certain business and international tax measures initially established under the 2017 Tax Cuts and Jobs Act ("Tax Act"). We have evaluated the impact of the OBBBA and determined that it did not have a material effect on the Company’s financial statements for the three and six months ended December 31, 2025. We will continue to assess the implications of the OBBBA as further guidance becomes available but do not expect the legislation to have a material impact on the effective tax rate in future periods.
v3.25.4
Fair Value Measurements
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring
8. Fair Value Measurements
Assets and Liabilities Measured on a Recurring Basis
The following tables present the fair values for assets and (liabilities) measured on a recurring basis at:
December 31, 2025
(in millions)Level 1Level 2Level 3Total
Assets:
Cash equivalents$266 $— $— $266 
Other investments (1)112 — — 112 
Liabilities:
Forward contracts (2)— (25)— (25)
Share-based awards (3)
— — (1,173)(1,173)
June 30, 2025
(in millions)Level 1Level 2Level 3Total
Assets:
Cash equivalents$1,672 $— $— $1,672 
Other investments (1)108 — — 108 
Liabilities:
Forward contracts (2)— (48)— (48)
Share-based awards (3)
— — (843)(843)
(1)The other investments balance includes investments in mutual funds, which offset fluctuations in deferred compensation liabilities. These mutual funds invest in the equity securities of companies with both large and small market capitalization and high quality fixed income debt securities. The fair value of these investments is determined using quoted market prices.
(2)The fair value of interest rate swaps, foreign currency contracts, and net investment hedges is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. The fair value of these derivative contracts, which are subject to master netting arrangements under certain circumstances, is presented on a gross basis in prepaid expenses and other, other assets, other accrued liabilities, and deferred income taxes and other liabilities within the condensed consolidated balance sheets.
(3)The shared-based awards are liability-classified awards, as defined under ASC 718, resulting from acquisitions by The Specialty Alliance. These are presented in deferred income taxes and other liabilities within the condensed consolidated balance sheets. The fair value of The Specialty Alliance Units is determined using the discounted cash flow method which utilizes significant unobservable inputs, including the discount rate of 7.5%. Significant changes to assumptions used in the valuation may have a material impact on the fair value of The Specialty Alliance Units.

Changes in Level 3 Recurring Fair Value Measurements
The following tables reconcile the changes in fair value for the liabilities classified within Level 3 of the fair value hierarchy for the three and six months ended December 31, 2025:
(in millions)
The Specialty Alliance Units
Fair Value at September 30, 2025
$910 
Acquisitions
213 
Vesting (1)
66 
Fair Value Adjustment (1)
(10)
Repurchases
(6)
Fair Value at December 31, 2025
$1,173 

(in millions)
The Specialty Alliance Units
Fair Value at June 30, 2025
$843 
Acquisitions
233 
Vesting (1)
119 
Fair Value Adjustment (1)
— 
Repurchases
(22)
Fair Value at December 31, 2025
$1,173 
(1)For the three and six months ended December 31, 2025, there was $56 million and $119 million of expense, respectively, recorded to acquisition-related cash and share-based compensation costs in the condensed consolidated statements of earnings.
v3.25.4
Financial Instruments
 6 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments
9. Financial Instruments
We utilize derivative financial instruments to manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative instruments include interest rate risk and currency exchange risk. We do not use derivative instruments for trading or speculative purposes. While the majority of our derivative instruments are designated as hedging instruments, we also enter into derivative instruments that are designed to hedge a risk but are not designated as hedging instruments. These derivative instruments are adjusted to current fair value through earnings at the end of each period. We are exposed to counterparty credit risk on all of our derivative instruments. Accordingly, we have established and maintain strict counterparty credit guidelines and only enter into derivative instruments with major financial institutions that are rated investment grade or better. We do not have significant exposure to any one counterparty and we believe the risk of loss is remote. Additionally, we do not require collateral under these agreements.
Interest Rate Risk Management
We are exposed to the impact of interest rate changes. Our objective is to manage the impact of interest rate changes on cash flows and the market value of our borrowings. We utilize a mix of debt maturities on our fixed-rate debt to manage changes in interest rates. In addition, we enter into interest rate swaps to further manage our exposure to interest rate variations related to our borrowings and to lower our overall borrowing costs.
Currency Exchange Risk Management
We conduct business in several major international currencies and are subject to risks associated with changing foreign exchange rates. Our objective is to reduce earnings and cash flow volatility associated with foreign exchange rate changes to allow management to focus its attention on business operations. Accordingly, we enter into various contracts that change in value as foreign exchange rates change to protect the value of existing foreign currency assets and liabilities, commitments, and anticipated foreign currency revenue and expenses.
Fair Value Hedges
We enter into pay-floating interest rate swaps to hedge the changes in the fair value of fixed-rate debt resulting from fluctuations in interest rates. These contracts are designated and qualify as fair value hedges. Accordingly, the gain or loss recorded on the pay-floating interest rate swaps is directly offset by the change in fair value of the underlying debt. Both the derivative instrument and the underlying debt are adjusted to market value at the end of each period with any resulting gain or loss recorded in interest expense, net in the condensed consolidated statements of earnings. For the three and six months ended December 31, 2025 and 2024, there were no gains or losses recorded to interest expense as changes in the market value of our derivative instruments offset changes in the market value of the underlying debt.
During the six months ended December 31, 2025, we entered into pay-floating interest rate swaps with total notional amounts of $300 million. These swaps have been designated as fair value hedges of our fixed rate debt and are included in deferred income taxes and other liabilities in our condensed consolidated balance sheets.
Cash Flow Hedges
We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rate and foreign currency fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings.
Gains and losses recognized in other comprehensive income were immaterial for both the three and six months ended December 31, 2025 and 2024, respectively. Gains and losses recognized in accumulated other comprehensive loss and reclassified into earnings were immaterial for both the three and six months ended December 31, 2025 and 2024, respectively. Gains currently included within accumulated other comprehensive loss associated with our cash flow hedges to be reclassified into net earnings within the next 12 months are immaterial.
Net Investment Hedges
We hedge the foreign currency risk associated with certain net investment positions in foreign subsidiaries. To accomplish this, we enter into cross-currency swaps that are designated as hedges of net investments.
In September 2025, we entered into ¥18 billion ($120 million) cross-currency swaps maturing in September 2027.
In September 2025, we terminated the ¥18 billion ($120 million) cross-currency swaps entered into in September 2023 and received settlement in cash of $3 million, recorded in our condensed consolidated statements of cash flows.
In December 2025, we partially terminated the €32 million ($37 million) cross-currency swaps entered into in March 2023 and paid a settlement in cash of $3 million, recorded in our condensed consolidated statements of cash flows.
Cross-currency swaps designated as net investment hedges are marked to market using the current spot exchange rate as of the end of the period, with gains and losses included in the foreign currency translation component of accumulated other comprehensive loss until the sale or substantial liquidation of the underlying net investments. To the extent the cross-currency swaps designated as net investment hedges are not highly effective, changes in carrying value attributable to the change in spot rates are recorded in earnings.
Pre-tax gains and losses from net investment hedges recorded in the foreign currency translation component of accumulated other comprehensive loss were immaterial during both the three and six months ended December 31, 2025 and 2024, respectively. Gains recognized in interest expense, net in the condensed consolidated statements of earnings for the portion of the net investment hedges excluded from the assessment of hedge effectiveness were immaterial during both the three and six months ended December 31, 2025 and 2024, respectively.
Economic (Non-Designated) Hedges
We enter into foreign currency contracts to manage our foreign exchange exposure related to sales transactions, intercompany financing transactions and other balance sheet items subject to revaluation that do not meet the requirements for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings. The gain or loss recorded on these instruments is substantially offset by the remeasurement adjustment on the foreign currency denominated asset or liability. The settlement of the derivative instrument and the remeasurement adjustment on the foreign currency denominated asset or liability are both recorded in other income, net. We recorded immaterial gains and losses during both the three and six months ended December 31, 2025 and 2024, respectively. The principal currencies managed through foreign currency contracts are Canadian dollar, Mexican peso, Chinese renminbi, Thai baht and Philippine peso.
Fair Value of Financial Instruments
The carrying amounts of cash and equivalents, trade receivables, accounts payable, and other accrued liabilities at December 31, 2025 and June 30, 2025 approximate fair value due to their short-term maturities.
The following table summarizes the estimated fair value of our long-term obligations and other short-term borrowings compared to the respective carrying amounts at:
(in millions)December 31, 2025June 30, 2025
Estimated fair value$8,208 $8,388 
Carrying amount9,027 8,527 
The fair value of our long-term obligations and other short-term borrowings is estimated based on either the quoted market prices for the same or similar issues or other inputs derived from available market information, which represents a Level 2 measurement.
v3.25.4
Shareholders' Equity
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Shareholders' Equity
10. Shareholders' Deficit
We repurchased $750 million and $375 million of our common shares, in the aggregate, through share repurchase programs during the six months ended December 31, 2025 and 2024, respectively. We funded the repurchases with available cash. The common shares repurchased are held in treasury to be used for general corporate purposes.
The following table presents the share repurchase programs executed during the six months ended December 31, 2025 and 2024:
Quarter Entered
Date Concluded
Aggregate Purchase Price
(in millions)
Initial Shares
(in millions)
Reference Price
Final Shares
(in millions)
Weighted Average Price per Common Share
Q1 FY26
10/31/2025$3752.0$148.120.4$151.88
Q2 FY26
12/15/2025$3751.6$190.220.3$200.00
Q1 FY25
10/30/2024$3752.7$109.650.7$110.10
During the six months ended December 31, 2025 and 2024, we paid $8 million and $15 million for excise taxes, respectively, related to the completion of prior Accelerated Share Repurchase programs.
During the three months ended December 31, 2024, we retired 56 million of common stock shares without par value.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in the balance of accumulated other comprehensive loss by component and in total:
(in millions)Foreign
Currency
Translation
Adjustments		Unrealized
Gain/(Loss) on
Derivatives,
net of tax		Accumulated Other
Comprehensive
Loss
Balance at June 30, 2025$(141)$(14)$(155)
Other comprehensive income, before reclassifications
5 3 8 
Amounts reclassified to earnings— (6)(6)
Total other comprehensive income/(loss) attributable to Cardinal Health, Inc., net of tax expense of $4 million
5 (3)2 
Balance at December 31, 2025$(136)$(17)$(153)
(in millions)Foreign
Currency
Translation
Adjustments		Unrealized
Gain/(Loss) on
Derivatives,
net of tax		Accumulated Other
Comprehensive
Loss
Balance at June 30, 2024$(138)$(29)$(167)
Other comprehensive income/(loss), before reclassifications(11)2 (9)
Amounts reclassified to earnings— (4)(4)
Total other comprehensive loss attributable to Cardinal Health, Inc., net of tax expense of $2 million
(11)(2)(13)
Balance at December 31, 2024$(149)$(31)$(180)
v3.25.4
Earnings Per Share Attributable to Cardinal Health, Inc.
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
11. Earnings Per Share Attributable to Cardinal Health, Inc.
The following tables reconcile the number of common shares used to compute basic and diluted earnings per share attributable to Cardinal Health, Inc. ("EPS"):
Three Months Ended December 31,
(in millions)20252024
Weighted-average common shares–basic236 242 
Effect of dilutive securities:
Employee stock options, restricted share units and performance share units1 1 
Weighted-average common shares–diluted237 243 
Six Months Ended December 31,
(in millions)20252024
Weighted-average common shares–basic237 242 
Effect of dilutive securities:
Employee stock options, restricted share units and performance share units1 1 
Weighted-average common shares–diluted238 243 
For the three and six months ended December 31, 2025 and 2024, immaterial restricted share units and performance share units were excluded from the computation of diluted EPS, as they were anti-dilutive.
v3.25.4
Segment Information
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information
12. Segment Information
We operate under two reportable segments: Pharmaceutical and Specialty Solutions ("Pharma") and Global Medical Products and Distribution ("GMPD"). All remaining operating segments that are not significant enough to require separate reportable segment disclosures are included in Other, which is comprised of Nuclear and Precision Health Solutions, at-Home Solutions and OptiFreight® Logistics. The factors for determining the reportable segments include the manner in which management evaluates performance for purposes of allocating resources and assessing performance combined with the nature of the individual business activities.
Our Pharma segment distributes branded and generic pharmaceutical, specialty pharmaceutical and over-the-counter healthcare and consumer products in the United States. This segment also provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products; provides pharmacy management services to hospitals and operates a limited number of pharmacies, including pharmacies in community health centers; repackages generic pharmaceuticals and over-the-counter healthcare products; and includes our managed services organization platforms for physician offices.
Our GMPD segment manufactures, sources and distributes Cardinal Health branded medical, surgical and laboratory products, which are sold in the United States, Canada, Europe, Asia and other markets. This segment also distributes a broad range of medical, surgical, and laboratory products known as national brand products to hospitals, ambulatory surgery centers, clinical laboratories and other healthcare providers in the United States and Canada.
The remaining three non-reportable operating segments included in Other are Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight® Logistics. These operating segments respectively operate nuclear pharmacies and radiopharmaceutical manufacturing facilities, distribute medical products to patients' homes in the United States, and provide supply chain services and solutions to our customers.
Revenue
The following tables present revenue for the two reportable segments and disaggregated revenue within the remaining operating segments, included in Other, and Corporate:
Three Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$60,669 $50,849 
Global Medical Products and Distribution3,259 3,154 
Nuclear and Precision Health Solutions440 372 
at-Home Solutions
1,185 835 
OptiFreight® Logistics
99 76 
Other
1,724 1,283 
Total segment revenue65,652 55,286 
Corporate (1)
(25)(22)
Total revenue$65,627 $55,264 
Six Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$119,874 $98,839 
Global Medical Products and Distribution6,443 6,277 
Nuclear and Precision Health Solutions876 745 
at-Home Solutions
2,300 1,574 
OptiFreight® Logistics
189 150 
Other
3,365 2,469 
Total segment revenue129,682 107,585 
Corporate (1)
(46)(44)
Total revenue$129,636 $107,541 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.

The following tables present revenue by geographic area:
Three Months Ended December 31,
(in millions)20252024
United States$65,217 $54,858 
International435 428 
 Total segment revenue65,652 55,286 
Corporate (1)(25)(22)
Total revenue$65,627 $55,264 
Six Months Ended December 31,
(in millions)20252024
United States$128,828 $106,749 
International854 836 
Total segment revenue129,682 107,585 
Corporate (1)(46)(44)
Total revenue$129,636 $107,541 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.
Segment Profit
The Company's Chief Executive Officer, the chief operating decision maker ("CODM"), evaluates segment performance based on segment profit, among other measures. Segment profit is segment revenue, less segment cost of products sold, less segment distribution, selling, general and administrative ("SG&A") expenses. Segment SG&A expenses include share-based compensation expense as well as allocated corporate technology and shared function expenses, including corporate management, corporate finance, financial and customer care shared services, human resources, information technology and legal and compliance, including certain litigation defense costs. Corporate expenses are allocated to the operating segments based on headcount, level of benefit provided and other ratable allocation methodologies. The results attributable to noncontrolling interests are recorded within segment profit.
We do not allocate the following items to our segments:
•last-in first-out, or ("LIFO"), inventory charges/(credits);
•state opioid assessment related to prior fiscal years;
•restructuring and employee severance;
•amortization and other acquisition-related costs;
•acquisition-related cash and share-based compensation costs;
•impairments and (gain)/loss on disposal of assets, net;
•litigation (recoveries)/charges, net;
•other (income)/expense, net;
•interest expense, net;
•provision for/(benefit from) income taxes
In addition, certain investment spending, certain portions of enterprise-wide incentive compensation and other spending are not allocated to the segments. Investment spending generally includes the first-year spend for certain projects that require incremental investments in the form of additional operating expenses. Because approval for these projects is dependent on executive management, we retain these expenses at Corporate. Investment spending within Corporate was $15 million for both the three months ended December 31, 2025 and 2024, respectively, and $31 million and $27 million for the six months ended December 31, 2025 and 2024, respectively.
The following tables present segment profit for the two reportable segments and the remaining operating segments, included in Other:
Three Months Ended December 31, 2025
(in millions)PharmaGMPDOtherTotal
Segment revenue$60,669 $3,259 $1,724 $65,652 
Cost of product sold59,243 2,720 1,291 63,254 
SG&A739 502 254 1,495 
Total segment expenses59,982 3,222 1,545 64,749 
Segment profit$687 $37 $179 $903 
Corporate (1)(196)
Consolidated operating earnings$707 
Three Months Ended December 31, 2024
(in millions)PharmaGMPDOtherTotal
Segment revenue
$50,849 $3,154 $1,283 $55,286 
Cost of product sold
49,750 2,624 969 53,343 
SG&A
568 512 196 1,276 
Total segment expenses
50,318 3,136 1,165 54,619 
Segment profit
$531 $18 $118 $667 
Corporate (1)
(118)
Consolidated operating earnings$549 
Six Months Ended December 31, 2025
(in millions)
Pharma
GMPD
Other
Total
Segment revenue
$119,874 $6,443 $3,365 $129,682 
Cost of product sold
117,100 5,353 2,512 124,965 
SG&A
1,420 1,007 508 2,935 
Total segment expenses
118,520 6,360 3,020 127,900 
Segment profit
$1,354 $83 $345 $1,782 
Corporate (1)
(407)
Consolidated operating earnings
$1,375 

Six Months Ended December 31, 2024
(in millions)PharmaGMPDOtherTotal
Segment revenue$98,839 $6,277 $2,469 $107,585 
Cost of product sold96,659 5,228 1,853 103,740 
SG&A1,119 1,023 394 2,536 
Total segment expenses97,778 6,251 2,247 106,276 
Segment profit$1,061 $26 $222 $1,309 
Corporate (1)(192)
Consolidated operating earnings$1,117 
(1)Corporate consists of the elimination of inter-segment revenue and other revenue and expenses not allocated to the segments.
Segment Assets
The following table presents total assets for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
(in millions)December 31,
2025		June 30,
2025
Pharmaceutical and Specialty Solutions
$43,405 $37,313 
Global Medical Products and Distribution
6,993 6,889 
Other
4,073 4,045 
Corporate 3,612 4,875 
Total assets$58,083 $53,122 
v3.25.4
Share-Based Compensation
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation
13. Share-Based Compensation
We maintain Cardinal Health Inc. corporate stock incentive plans (collectively, the “Plans”) for the benefit of certain of our officers, directors, and employees. As of December 31, 2025, we have 16 million shares authorized for issuance under the Plans. Upon vesting these units convert to common shares without restrictions or future service requirements.
The following tables provide total share-based compensation expense by type of award:
Three Months Ended December 31,
(in millions)20252024
Restricted share unit expense$16 $18 
Performance share unit expense15 12 
Total share-based compensation
$31 $30 
Six Months Ended December 31,
(in millions)20252024
Restricted share unit expense$34 $37 
Performance share unit expense27 23 
Total share-based compensation
$61 $60 
The total tax benefit related to share-based compensation was $4 million for both the three months ended December 31, 2025
and 2024, respectively, and $7 million and for both the six months ended December 31, 2025 and 2024, respectively. Share-based compensation expense is included in selling, general, and administrative expenses in the condensed consolidated statements of earnings. Our condensed consolidated statements of cash flows present our share-based compensation expense as a reconciling adjustment between net income and net cash provided by operating activities for all periods presented.
Restricted Share Units
Restricted share units granted under the Plans generally vest in equal annual installments over three years. Restricted share units accrue cash dividend equivalents that are payable upon vesting of the awards.
The following table summarizes all transactions related to restricted share units under the Plans:
(in millions, except per share amounts)Restricted Share UnitsWeighted-Average
Grant Date Fair
Value per Share
Nonvested at June 30, 20251.4 $86.30 
Granted0.4 151.37 
Vested(0.7)89.23 
Canceled and forfeited— 121.81 
Nonvested at December 31, 20251.1 $110.11 
The total fair value of units vested during both the three months ended December 31, 2025 and 2024 were $3 million. The total fair value of units vested during both the six months ended December 31, 2025 and 2024 were $56 million.
At December 31, 2025, the total pre-tax compensation cost, net of estimated forfeitures, related to nonvested restricted share units not yet recognized was $98 million, which is expected to be recognized over a weighted-average period of two years.
Performance Share Units
Performance share units vest over a three-year performance period based on achievement of specific performance goals. Based on the extent to which the targets are achieved and our total shareholder return relative to the S&P 500 Health Care Index, vested shares may range from zero to 240 percent of the target award amount. Performance share units accrue cash dividend equivalents that are payable upon vesting of the awards.
The following table summarizes all transactions related to performance share units under the Plans (based on target award amounts):
(in millions, except per share amounts)Performance
Share Units		Weighted-Average
Grant Date Fair
Value per Share
Nonvested at June 30, 20251.5 $99.45 
Granted0.5 153.66 
Vested(0.7)92.71 
Canceled and forfeited— — 
Nonvested at December 31, 20251.3 $117.36 
No performance share units vested during the three months ended December 31, 2025 and 2024. The total fair value of units vested during the six months ended December 31, 2025 and 2024 were $108 million and $49 million, respectively.
At December 31, 2025, the total pre-tax compensation cost, net of estimated forfeitures, related to nonvested performance share units not yet recognized was $63 million, which is expected to be recognized over a weighted-average period of two years if the performance goals are achieved.
The Specialty Alliance Share-Based Compensation
The Specialty Alliance, a majority-owned subsidiary of Cardinal Health, maintains standalone share-based compensation plans. Share-based compensation expense associated with these awards of $56 million and $119 million was recognized during the three and six months ended December 31, 2025 respectively. Of the expense recognized for the three and six months ended December 31, 2025, $54 million and $115 million is included in acquisition-related cash and share-based compensation costs and $2 million and $4 million is included in selling, general, and administrative expenses in the condensed consolidated statements of earnings, respectively. The liability and associated future expenses may vary based on the changes in the estimated fair value.
The following table summarizes the fair market value of The Specialty Alliance Units as of December 31, 2025:
(in millions, except per share amounts)
The Specialty Alliance Share Units
Fair Value
per Share
Nonvested at June 30, 2025206 $1.54 
Granted217 1.54 
Vested(77)1.54 
Canceled and forfeited(1)1.54 
Nonvested at December 31, 2025345 $1.54 
Vested at December 31, 2025760 $1.54 
The total fair value of The Specialty Alliance Units vested during the three and six months ended December 31, 2025 was $66 million and $119 million, respectively. During the three months ended December 31, 2025, we recognized a decrease in the fair value of the liability, resulting in income of $10 million related to the vested Specialty Alliance Units, which is recognized in acquisition-
related cash and share-based compensation costs. There was no change in the fair value of the liability during the six months ended December 31, 2025.
At December 31, 2025, the total pre-tax compensation cost related to nonvested Specialty Alliance Units not yet recognized was $531 million, which is expected to be recognized over a weighted-average period of approximately three years.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
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
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
Our condensed consolidated financial statements include the accounts of all majority-owned or consolidated subsidiaries, and all significant intercompany transactions and amounts have been eliminated. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of the acquisition or up to the date of disposal, respectively.
We report our financial results in two reportable segments: Pharmaceutical and Specialty Solutions ("Pharma") segment and Global Medical Products and Distribution ("GMPD") segment. All remaining operating segments that are not significant enough to require separate reportable segment disclosures are included in Other, which is comprised of Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight® Logistics.
References to "we," "our," and similar pronouns in this Quarterly Report on Form 10-Q for the quarter ended December 31, 2025 (this "Form 10-Q") are to Cardinal Health, Inc. and its majority-owned or consolidated subsidiaries unless the context requires otherwise.
Our fiscal year ends on June 30. References to fiscal 2026 and 2025 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2026 and June 30, 2025, respectively.
Our condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission ("SEC") instructions to Quarterly Reports on Form 10-Q and include the information and disclosures required by accounting principles generally accepted in the United States ("GAAP") for interim financial reporting. The preparation of financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. Actual amounts may differ from these estimated amounts.
In our opinion, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included, all such adjustments are of a normal and recurring nature. In addition, financial results presented for this fiscal 2026 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2026. These condensed consolidated financial statements are unaudited and, accordingly, should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (the "2025 Form 10-K").
Recent Financial Accounting Standards
Recently Issued Financial Accounting Standards
and Disclosure Rules Not Yet Adopted
We assess the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board ("FASB") on our consolidated financial statements as well as material updates to previous assessments, if any, from the 2025 Form 10-K.
Income Tax Disclosure
In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This guidance also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be
effective for us in fiscal 2026 Form 10-K and will be applied on a prospective basis. Adoption will require enhancements to our income tax disclosures but is not expected to have a significant impact on our financial reporting, or on our operational processes, controls and governance in support of the new guidance.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), which requires disaggregated disclosures of certain categories of expenses which are included in any relevant income statement expense caption on an annual and interim basis. Additionally, the guidance requires the disclosure of total selling expenses and, in annual reporting periods, an entity's definition of selling expenses. This guidance will be effective for us in fiscal 2028 Form 10-K and should be applied on a prospective basis, with retrospective application permitted. We are currently evaluating the impact of adoption of this guidance on our disclosures.
Recently Adopted Financial Accounting Standards
There were no new material accounting standards adopted during the six months ended December 31, 2025.
Consolidation, Variable Interest Entity, Policy
Variable Interest Entities
We evaluate our ownership, contractual, and other interests in entities to determine if they are a variable interest entity (“VIE”), if we have a variable interest in those entities, and the nature and extent of those interests. These evaluations may involve management judgment and the use of estimates and assumptions based on available historical information, among other factors. Based on our evaluations, if we determine we are the primary beneficiary of such VIEs, we consolidate such entities into our financial statements.
Consolidated Variable Interest Entities
We consolidate a VIE when we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE and, as a result, are considered the primary beneficiary of the VIE.
In relation to the acquisition of The Specialty Alliance, we concluded that the The Specialty Alliance management services organization ("MSO") is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. Additionally, in relation to the acquisition of Integrated Oncology Network ("ION"), we concluded that ION is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. The Specialty Alliance and ION VIEs do not have a material impact on our condensed consolidated statements of earnings or condensed consolidated statements of cash flows. Total assets and liabilities included in the consolidated balance sheets for The Specialty Alliance and ION VIEs were $1.2 billion and $960 million, respectively, as of December 31, 2025.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy
Noncontrolling Interests
Noncontrolling interests represent the portion of net earnings, comprehensive income, and net assets that is not attributable to Cardinal Health, Inc. Noncontrolling interests as of December 31, 2025 primarily represents third-party equity interests in ION. See Note 2, for additional information on the acquisition of ION.
v3.25.4
Business Combinations, Asset Acquisitions, and Joint Venture Formation (Tables)
 6 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date for Solaris Health, Urology America, ADS, GIA and ION:
(in millions)
Solaris Health
Urology
America		ADSGIA
ION
Identifiable intangible assets:
Customer intangibles (1)
$— $— $472 $— $— 
Trade names (2)
239 33 28 200 73 
Non-competition agreements (3)
39 — — 23 — 
Total identifiable intangible assets acquired
278 33 500 223 73 
Identifiable net assets/(liabilities):
Cash and equivalents
55 4 14 53 10 
Trade receivables, net
249 23 100 175 58 
Inventories
23 3 78 21 20 
Prepaid expenses and other
73 3 7 13 7 
Property and equipment, net
54 28 1 67 39 
Other assets
191 41 377 319 45 
Accounts payable(105)(20)(104)(89)(10)
Current portion of long-term obligations and other short-term borrowings— — — (1)(3)
Other accrued liabilities(195)(12)(397)(176)(41)
Long-term obligations, less current portion— (6)— (15)(14)
Deferred income taxes and other liabilities(164)(45)(105)(889)(50)
Total identifiable net assets/(liabilities) acquired459 52 471 (299)134 
Noncontrolling interest— (9)— — (157)
Goodwill
1,681 338 578 3,084 1,092 
Total net assets acquired
$2,140 $381 $1,049 $2,785 $1,069 
(1)    The weighted-average useful life of customer intangibles is 10 years.
(2)    The weighted-average useful life of trade names ranges from 2 years to 10 years.
(3)    The weighted-average useful life of non-competition agreements is 5 years.
v3.25.4
Restructuring and Employee Severance (Tables)
 6 Months Ended
Dec. 31, 2025
Restructuring Charges [Abstract]  
Summary of Restructuring and Employee Severance
The following tables summarize restructuring and employee severance costs:
Three Months Ended December 31,
(in millions)20252024
Employee-related$15 $3 
Facility exit and other6 6 
Total restructuring and employee severance$21 $9 
Six Months Ended December 31,
(in millions)20252024
Employee-related$30 $19 
Facility exit and other11 14 
Total restructuring and employee severance$41 $33 
Schedule of Activity Related to Liabilities Associated with Restructuring and Employee Severance
The following table summarizes activity related to liabilities associated with restructuring and employee severance:
(in millions)Employee-
Related Costs		Facility Exit
and Other Costs		Total
Balance at June 30, 2025$79 $— $79 
Additions19 — 19 
Payments and other adjustments(22)— (22)
Balance at December 31, 2025$76 $— $76 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Reportable Segment
The following table summarizes the changes in the carrying amount of goodwill by segment and in total:
(in millions)Pharmaceutical and Specialty SolutionsGlobal Medical Products and DistributionOther (1)Total
Balance at June 30, 2025
$7,943 $— $1,748 $9,691 
Goodwill acquired, net of purchase price adjustments1,918 — — 1,918 
Balance at December 31, 2025$9,861 $— $1,748 $11,609 
(1) Comprised of the remaining operating segments, Nuclear and Precision Health Solutions, at-Home Solutions and OptiFreight® Logistics.
Schedule of Definite and Indefinite-Lived Intangible Assets
The following tables summarize other intangible assets by class at:
December 31, 2025
(in millions)Gross
Intangible		Accumulated
Amortization		Net
Intangible		Weighted- Average Remaining Amortization Period (Years)
Indefinite-life intangibles:
Trademarks and patents$14 $— $14 N/A
Total indefinite-life intangibles14 — 14 N/A
Definite-life intangibles:
Customer intangibles
3,632 2,720 912 10
Trademarks, trade names and patents1,583 503 1,080 8
Developed technology and other1,030 752 278 6
Non-Competition Agreements
111 26 85 4
Total definite-life intangibles6,356 4,001 2,355 9
Total other intangible assets$6,370 $4,001 $2,369 N/A
June 30, 2025
(in millions)Gross
Intangible		Accumulated
Amortization		Net
Intangible
Indefinite-life intangibles:
Trademarks and patents$13 $— $13 
Total indefinite-life intangibles13 — 13 
Definite-life intangibles:
Customer intangibles
3,876 2,639 1,237 
Trademarks, trade names and patents1,340 459 881 
Developed technology and other1,030 726 304 
Non-Competition Agreements
72 21 51 
Total definite-life intangibles6,318 3,845 2,473 
Total other intangible assets$6,331 $3,845 $2,486 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table summarizes the estimated amortization expense for the remainder of fiscal 2026 through fiscal 2030:
(in millions)
Estimated Amortization Expense
2026
$193 
2027382 
2028349 
2029327 
2030306 
v3.25.4
Debt (Tables)
 6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
The following table summarizes long-term obligations and other short-term borrowings at:
(in millions) (1)December 31, 2025June 30, 2025
3.75% Notes due 2025$— $501 
4.7% Notes due 2026499 498 
3.41% Notes due 20271,210 1,206 
5.125% Notes due 2029646 645 
5.0% Notes due 2029745 745 
4.5% Notes due 2030594 — 
5.45% Notes due 2034501 501 
5.35% Notes due 2034990 989 
5.15% Notes due 2035393 — 
4.6% Notes due 2043326 323 
4.5% Notes due 2044339 338 
4.9% Notes due 2045439 438 
4.368% Notes due 2047566 566 
5.75% Notes due 2054641 641 
7.0% Debentures due 2026124 124 
Floating Rate Term Loan due 2028799 799 
Other Obligations215 213 
Total9,027 8,527 
Less: current portion of long-term obligations and other short-term borrowings680 550 
Long-term obligations, less current portion$8,347 $7,977 
(1)    Maturities are presented on a calendar year basis.
Schedule of Maturities of Long-Term Debt
Maturities of existing long-term obligations and other short-term borrowings for the remainder of fiscal 2026 through fiscal 2030 and thereafter are as follows:
(in millions)
Debt maturities
2026$27 
20271,882 
2028839 
2029674 
2030766 
Thereafter4,839 
Total debt and finance lease obligations
$9,027 
v3.25.4
Fair Value Measurements (Tables)
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present the fair values for assets and (liabilities) measured on a recurring basis at:
December 31, 2025
(in millions)Level 1Level 2Level 3Total
Assets:
Cash equivalents$266 $— $— $266 
Other investments (1)112 — — 112 
Liabilities:
Forward contracts (2)— (25)— (25)
Share-based awards (3)
— — (1,173)(1,173)
June 30, 2025
(in millions)Level 1Level 2Level 3Total
Assets:
Cash equivalents$1,672 $— $— $1,672 
Other investments (1)108 — — 108 
Liabilities:
Forward contracts (2)— (48)— (48)
Share-based awards (3)
— — (843)(843)
(1)The other investments balance includes investments in mutual funds, which offset fluctuations in deferred compensation liabilities. These mutual funds invest in the equity securities of companies with both large and small market capitalization and high quality fixed income debt securities. The fair value of these investments is determined using quoted market prices.
(2)The fair value of interest rate swaps, foreign currency contracts, and net investment hedges is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. The fair value of these derivative contracts, which are subject to master netting arrangements under certain circumstances, is presented on a gross basis in prepaid expenses and other, other assets, other accrued liabilities, and deferred income taxes and other liabilities within the condensed consolidated balance sheets.
(3)The shared-based awards are liability-classified awards, as defined under ASC 718, resulting from acquisitions by The Specialty Alliance. These are presented in deferred income taxes and other liabilities within the condensed consolidated balance sheets. The fair value of The Specialty Alliance Units is determined using the discounted cash flow method which utilizes significant unobservable inputs, including the discount rate of 7.5%. Significant changes to assumptions used in the valuation may have a material impact on the fair value of The Specialty Alliance Units.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables reconcile the changes in fair value for the liabilities classified within Level 3 of the fair value hierarchy for the three and six months ended December 31, 2025:
(in millions)
The Specialty Alliance Units
Fair Value at September 30, 2025
$910 
Acquisitions
213 
Vesting (1)
66 
Fair Value Adjustment (1)
(10)
Repurchases
(6)
Fair Value at December 31, 2025
$1,173 

(in millions)
The Specialty Alliance Units
Fair Value at June 30, 2025
$843 
Acquisitions
233 
Vesting (1)
119 
Fair Value Adjustment (1)
— 
Repurchases
(22)
Fair Value at December 31, 2025
$1,173 
(1)For the three and six months ended December 31, 2025, there was $56 million and $119 million of expense, respectively, recorded to acquisition-related cash and share-based compensation costs in the condensed consolidated statements of earnings.
v3.25.4
Financial Instruments (Tables)
 6 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Estimated Fair Value of Long-term Obligations and Other Short-term Borrowings Compared to the Respective Carrying Amount
The following table summarizes the estimated fair value of our long-term obligations and other short-term borrowings compared to the respective carrying amounts at:
(in millions)December 31, 2025June 30, 2025
Estimated fair value$8,208 $8,388 
Carrying amount9,027 8,527 
v3.25.4
Shareholders' Equity (Tables)
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Changes in the Balance of Accumulated Other Comprehensive Loss by Component and in Total
The following tables summarize the changes in the balance of accumulated other comprehensive loss by component and in total:
(in millions)Foreign
Currency
Translation
Adjustments		Unrealized
Gain/(Loss) on
Derivatives,
net of tax		Accumulated Other
Comprehensive
Loss
Balance at June 30, 2025$(141)$(14)$(155)
Other comprehensive income, before reclassifications
5 3 8 
Amounts reclassified to earnings— (6)(6)
Total other comprehensive income/(loss) attributable to Cardinal Health, Inc., net of tax expense of $4 million
5 (3)2 
Balance at December 31, 2025$(136)$(17)$(153)
(in millions)Foreign
Currency
Translation
Adjustments		Unrealized
Gain/(Loss) on
Derivatives,
net of tax		Accumulated Other
Comprehensive
Loss
Balance at June 30, 2024$(138)$(29)$(167)
Other comprehensive income/(loss), before reclassifications(11)2 (9)
Amounts reclassified to earnings— (4)(4)
Total other comprehensive loss attributable to Cardinal Health, Inc., net of tax expense of $2 million
(11)(2)(13)
Balance at December 31, 2024$(149)$(31)$(180)
v3.25.4
Earnings Per Share Attributable to Cardinal Health, Inc. (Tables)
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Reconciliation of Common Shares Used to Compute Basic and Diluted Earnings Per Share
The following tables reconcile the number of common shares used to compute basic and diluted earnings per share attributable to Cardinal Health, Inc. ("EPS"):
Three Months Ended December 31,
(in millions)20252024
Weighted-average common shares–basic236 242 
Effect of dilutive securities:
Employee stock options, restricted share units and performance share units1 1 
Weighted-average common shares–diluted237 243 
Six Months Ended December 31,
(in millions)20252024
Weighted-average common shares–basic237 242 
Effect of dilutive securities:
Employee stock options, restricted share units and performance share units1 1 
Weighted-average common shares–diluted238 243 
v3.25.4
Segment Information (Tables)
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following tables present revenue for the two reportable segments and disaggregated revenue within the remaining operating segments, included in Other, and Corporate:
Three Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$60,669 $50,849 
Global Medical Products and Distribution3,259 3,154 
Nuclear and Precision Health Solutions440 372 
at-Home Solutions
1,185 835 
OptiFreight® Logistics
99 76 
Other
1,724 1,283 
Total segment revenue65,652 55,286 
Corporate (1)
(25)(22)
Total revenue$65,627 $55,264 
Six Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$119,874 $98,839 
Global Medical Products and Distribution6,443 6,277 
Nuclear and Precision Health Solutions876 745 
at-Home Solutions
2,300 1,574 
OptiFreight® Logistics
189 150 
Other
3,365 2,469 
Total segment revenue129,682 107,585 
Corporate (1)
(46)(44)
Total revenue$129,636 $107,541 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.
Revenue from External Customers by Geographic Areas [Table Text Block]
The following tables present revenue by geographic area:
Three Months Ended December 31,
(in millions)20252024
United States$65,217 $54,858 
International435 428 
 Total segment revenue65,652 55,286 
Corporate (1)(25)(22)
Total revenue$65,627 $55,264 
Six Months Ended December 31,
(in millions)20252024
United States$128,828 $106,749 
International854 836 
Total segment revenue129,682 107,585 
Corporate (1)(46)(44)
Total revenue$129,636 $107,541 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.
Segment Profit by Reportable Segment
The following tables present segment profit for the two reportable segments and the remaining operating segments, included in Other:
Three Months Ended December 31, 2025
(in millions)PharmaGMPDOtherTotal
Segment revenue$60,669 $3,259 $1,724 $65,652 
Cost of product sold59,243 2,720 1,291 63,254 
SG&A739 502 254 1,495 
Total segment expenses59,982 3,222 1,545 64,749 
Segment profit$687 $37 $179 $903 
Corporate (1)(196)
Consolidated operating earnings$707 
Three Months Ended December 31, 2024
(in millions)PharmaGMPDOtherTotal
Segment revenue
$50,849 $3,154 $1,283 $55,286 
Cost of product sold
49,750 2,624 969 53,343 
SG&A
568 512 196 1,276 
Total segment expenses
50,318 3,136 1,165 54,619 
Segment profit
$531 $18 $118 $667 
Corporate (1)
(118)
Consolidated operating earnings$549 
Six Months Ended December 31, 2025
(in millions)
Pharma
GMPD
Other
Total
Segment revenue
$119,874 $6,443 $3,365 $129,682 
Cost of product sold
117,100 5,353 2,512 124,965 
SG&A
1,420 1,007 508 2,935 
Total segment expenses
118,520 6,360 3,020 127,900 
Segment profit
$1,354 $83 $345 $1,782 
Corporate (1)
(407)
Consolidated operating earnings
$1,375 

Six Months Ended December 31, 2024
(in millions)PharmaGMPDOtherTotal
Segment revenue$98,839 $6,277 $2,469 $107,585 
Cost of product sold96,659 5,228 1,853 103,740 
SG&A1,119 1,023 394 2,536 
Total segment expenses97,778 6,251 2,247 106,276 
Segment profit$1,061 $26 $222 $1,309 
Corporate (1)(192)
Consolidated operating earnings$1,117 
(1)Corporate consists of the elimination of inter-segment revenue and other revenue and expenses not allocated to the segments.
Assets by Reportable Segment
The following table presents total assets for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
(in millions)December 31,
2025		June 30,
2025
Pharmaceutical and Specialty Solutions
$43,405 $37,313 
Global Medical Products and Distribution
6,993 6,889 
Other
4,073 4,045 
Corporate 3,612 4,875 
Total assets$58,083 $53,122 
Segment, Reconciliation of Other Items from Segments to Consolidated
The following tables present depreciation and amortization for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
Three Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$64 $46 
Global Medical Products and Distribution55 60 
Other30 40 
Corporate
85 46 
Total depreciation and amortization$234 $192 
Six Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$125 $73 
Global Medical Products and Distribution110 109 
Other59 58 
Corporate
173 134 
Total depreciation and amortization$467 $374 
The following tables present additions to property and equipment for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
Three Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$23 $12 
Global Medical Products and Distribution23 21 
Other23 22 
Corporate
62 44 
Total additions to property and equipment
$131 $99 
Six Months Ended December 31,
(in millions)20252024
Pharmaceutical and Specialty Solutions$55 $23 
Global Medical Products and Distribution42 44 
Other38 34 
Corporate
104 88 
Total additions to property and equipment
$239 $189 
Long-Lived Assets by Geographic Areas
The following table presents property and equipment, net by geographic area:
(in millions)December 31, 2025June 30,
2025
United States
$2,445 $2,422 
International
432 436 
Total property and equipment, net$2,877 $2,858 
v3.25.4
Share-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Total Share-based Compensation Expense by Type of Award
The following tables provide total share-based compensation expense by type of award:
Three Months Ended December 31,
(in millions)20252024
Restricted share unit expense$16 $18 
Performance share unit expense15 12 
Total share-based compensation
$31 $30 
Six Months Ended December 31,
(in millions)20252024
Restricted share unit expense$34 $37 
Performance share unit expense27 23 
Total share-based compensation
$61 $60 
Schedule of Transactions Related to Restricted Share Units Under the Plans
The following table summarizes all transactions related to restricted share units under the Plans:
(in millions, except per share amounts)Restricted Share UnitsWeighted-Average
Grant Date Fair
Value per Share
Nonvested at June 30, 20251.4 $86.30 
Granted0.4 151.37 
Vested(0.7)89.23 
Canceled and forfeited— 121.81 
Nonvested at December 31, 20251.1 $110.11 
Schedule of Transactions Related to Performance Share Units Under the Plans
The following table summarizes all transactions related to performance share units under the Plans (based on target award amounts):
(in millions, except per share amounts)Performance
Share Units		Weighted-Average
Grant Date Fair
Value per Share
Nonvested at June 30, 20251.5 $99.45 
Granted0.5 153.66 
Vested(0.7)92.71 
Canceled and forfeited— — 
Nonvested at December 31, 20251.3 $117.36 
Schedule of Transactions Related to GIA Units
The following table summarizes the fair market value of The Specialty Alliance Units as of December 31, 2025:
(in millions, except per share amounts)
The Specialty Alliance Share Units
Fair Value
per Share
Nonvested at June 30, 2025206 $1.54 
Granted217 1.54 
Vested(77)1.54 
Canceled and forfeited(1)1.54 
Nonvested at December 31, 2025345 $1.54 
Vested at December 31, 2025760 $1.54 
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies (Narrative, Recent Financial Accounting Standards) (Details) - USD ($)
$ in Millions
 6 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Variable Interest Entity [Line Items]    
Total assets $ 58,083 $ 53,122
Consolidation, Variable Interest Entity, Policy
Variable Interest Entities
We evaluate our ownership, contractual, and other interests in entities to determine if they are a variable interest entity (“VIE”), if we have a variable interest in those entities, and the nature and extent of those interests. These evaluations may involve management judgment and the use of estimates and assumptions based on available historical information, among other factors. Based on our evaluations, if we determine we are the primary beneficiary of such VIEs, we consolidate such entities into our financial statements.
Consolidated Variable Interest Entities
We consolidate a VIE when we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE and, as a result, are considered the primary beneficiary of the VIE.
In relation to the acquisition of The Specialty Alliance, we concluded that the The Specialty Alliance management services organization ("MSO") is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. Additionally, in relation to the acquisition of Integrated Oncology Network ("ION"), we concluded that ION is the primary beneficiary of certain physician practices and therefore the practices are consolidated as VIEs. The Specialty Alliance and ION VIEs do not have a material impact on our condensed consolidated statements of earnings or condensed consolidated statements of cash flows. Total assets and liabilities included in the consolidated balance sheets for The Specialty Alliance and ION VIEs were $1.2 billion and $960 million, respectively, as of December 31, 2025. 		 
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Total assets $ 1,200  
Liabilities $ (960)  
v3.25.4
Business Combinations and Asset Acquisitions (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Nov. 03, 2025
May 30, 2025
Apr. 01, 2025
Jan. 30, 2025
Dec. 02, 2024
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net $ 2,355 $ 2,473     $ 2,355   $ 2,473          
Goodwill 11,609 9,691     11,609   9,691          
Goodwill $ 11,609 $ 9,691     $ 11,609   $ 9,691          
Finite-Lived Intangible Assets, Remaining Amortization Period 9 years       9 years              
Solaris Health                        
Business Combination [Line Items]                        
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition 5 years                      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 500                      
GIA Common Stock                        
Business Combination [Line Items]                        
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition         3 years   2 years          
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested 66                      
ION                        
Business Combination [Line Items]                        
Payments to Acquire Businesses, Gross       $ 1,100                
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived                       $ 73
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent                       10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                       (3)
Business Combination, Recognized Asset Acquired, Receivable, Current                       58
Business Combination, Recognized Asset Acquired, Inventory, Current                       20
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current                       7
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment                       39
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent                       45
Business Combination, Recognized Liability Assumed, Accounts Payable, Current                       (10)
Business Combination, Recognized Liability Assumed, Other Liability, Current                       (41)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities                       (14)
Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent                       (50)
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less)                       134
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value                       (157)
Goodwill                       1,092
Goodwill                       1,092
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                       $ 1,069
Business Combination, Acquisition-Related Cost, Expense $ 1     $ 18 $ 2 $ 20            
ION | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow                        
Business Combination [Line Items]                        
Intangible Assets Measurement Input 7.00%                      
GIA [Member]                        
Business Combination [Line Items]                        
Payments to Acquire Businesses, Gross     $ 2,800                  
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived                     $ 223  
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent                     53  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                     (1)  
Business Combination, Recognized Asset Acquired, Receivable, Current                     175  
Business Combination, Recognized Asset Acquired, Inventory, Current                     21  
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current                     13  
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment                     67  
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent                     319  
Business Combination, Recognized Liability Assumed, Accounts Payable, Current                     (89)  
Business Combination, Recognized Liability Assumed, Other Liability, Current                     (176)  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities                     (15)  
Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent                     (889)  
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less)                     (299)  
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value                     0  
Goodwill                     3,084  
Goodwill                     3,084  
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                     $ 2,785  
Business Combination, Acquisition-Related Cost, Expense $ 2       7              
Business Combination, Voting Equity Interest Acquired, Percentage                     73.00%  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value             $ 739          
Discount Rate, fair value inputs   9.50%         9.50%          
GIA [Member] | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow                        
Business Combination [Line Items]                        
Intangible Assets Measurement Input 20.00%                      
Urology America                        
Business Combination [Line Items]                        
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived                 $ 33      
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent                 4      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                 0      
Business Combination, Recognized Asset Acquired, Receivable, Current                 23      
Business Combination, Recognized Asset Acquired, Inventory, Current                 3      
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current                 3      
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment                 28      
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent                 41      
Business Combination, Recognized Liability Assumed, Accounts Payable, Current                 (20)      
Business Combination, Recognized Liability Assumed, Other Liability, Current                 (12)      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities                 (6)      
Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent                 (45)      
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less)                 52      
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value                 (9)      
Goodwill                 (338)      
Goodwill                 (338)      
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                 $ 381      
ADS                        
Business Combination [Line Items]                        
Payments to Acquire Businesses, Gross   $ 1,000                    
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived                   $ 500    
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent                   14    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                   0    
Business Combination, Recognized Asset Acquired, Receivable, Current                   100    
Business Combination, Recognized Asset Acquired, Inventory, Current                   78    
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current                   7    
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment                   1    
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent                   377    
Business Combination, Recognized Liability Assumed, Accounts Payable, Current                   (104)    
Business Combination, Recognized Liability Assumed, Other Liability, Current                   (397)    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities                   0    
Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent                   (105)    
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less)                   471    
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value                   0    
Goodwill                   578    
Goodwill                   578    
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                   1,049    
Business Combination, Acquisition-Related Cost, Expense $ 3       7              
Solaris Health                        
Business Combination [Line Items]                        
Payments to Acquire Businesses, Gross 1,900                      
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived               $ 278        
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent               55        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities               0        
Business Combination, Recognized Asset Acquired, Receivable, Current               249        
Business Combination, Recognized Asset Acquired, Inventory, Current               23        
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current               73        
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment               54        
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent               191        
Business Combination, Recognized Liability Assumed, Accounts Payable, Current               (105)        
Business Combination, Recognized Liability Assumed, Other Liability, Current               (195)        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities               0        
Business Combination, Recognized Liability Assumed, Other Liability, Noncurrent               (164)        
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less)               459        
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value               0        
Goodwill               1,681        
Goodwill               1,681        
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net               2,140        
Business Combination, Acquisition-Related Cost, Expense 37       $ 40              
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 210                      
Discount Rate, fair value inputs 7.50%       7.50%              
Specialty Alliance                        
Business Combination [Line Items]                        
Business Combination, Voting Equity Interest Acquired, Percentage 76.00%       76.00%              
Customer Contracts | GIA [Member]                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                     $ 0  
Customer Contracts | Solaris Health                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net               0        
Trademarks and Trade Names | ION                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Remaining Amortization Period                       10 years
Trademarks and Trade Names | GIA [Member]                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                     $ 23  
Finite-Lived Intangible Assets, Remaining Amortization Period                     10 years  
Trademarks and Trade Names | Urology America                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Remaining Amortization Period                 10 years      
Trademarks and Trade Names | Solaris Health                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net               $ 239        
Finite-Lived Intangible Assets, Remaining Amortization Period               10 years        
Noncompete Agreements                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net $ 85 51     $ 85   $ 51          
Finite-Lived Intangible Assets, Remaining Amortization Period 4 years       4 years              
Noncompete Agreements | ION                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                       $ 0
Noncompete Agreements | GIA [Member]                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Remaining Amortization Period                     5 years  
Noncompete Agreements | Urology America                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                 $ 0      
Noncompete Agreements | ADS                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                   0    
Noncompete Agreements | Solaris Health                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net               $ 39        
Finite-Lived Intangible Assets, Remaining Amortization Period               5 years        
Customer-Related Intangible Assets                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net $ 912 1,237     $ 912   1,237          
Finite-Lived Intangible Assets, Remaining Amortization Period 10 years       10 years              
Customer-Related Intangible Assets | ION                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                       0
Customer-Related Intangible Assets | Urology America                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                 0      
Customer-Related Intangible Assets | ADS                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                   472    
Customer-Related Intangible Assets | ADS | Minimum                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Remaining Amortization Period 10 years       10 years              
Trademarks And Patents Member                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net $ 1,080 $ 881     $ 1,080   $ 881          
Finite-Lived Intangible Assets, Remaining Amortization Period 8 years       8 years              
Trademarks And Patents Member | ION                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                       $ 73
Trademarks And Patents Member | GIA [Member]                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                     $ 200  
Trademarks And Patents Member | Urology America                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                 $ 33      
Trademarks And Patents Member | ADS                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Net                   $ 28    
Trademarks And Patents Member | ADS | Minimum                        
Business Combination [Line Items]                        
Finite-Lived Intangible Assets, Remaining Amortization Period 2 years       2 years              
v3.25.4
Restructuring and Employee Severance (Activity Related to Restructuring and Employee Severance Costs) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring Charges [Abstract]        
Employee-related costs $ 15 $ 3 $ 30 $ 19
Facility Exit and Other Costs 6 6 11 14
Total restructuring and employee severance $ 21 $ 9 $ 41 $ 33
v3.25.4
Restructuring and Employee Severance (Liabilities Associated with Restructuring and Employee Severance Activities) (Details)
$ in Millions
 6 Months Ended
Dec. 31, 2025
USD ($)
Restructuring Reserve [Roll Forward]  
Beginning Balance $ 79
Additions 19
Payments and other adjustments (22)
Ending Balance 76
Employee- Related Costs  
Restructuring Reserve [Roll Forward]  
Beginning Balance 79
Additions 19
Payments and other adjustments (22)
Ending Balance 76
Facility Exit and Other Costs  
Restructuring Reserve [Roll Forward]  
Beginning Balance 0
Additions 0
Payments and other adjustments 0
Ending Balance $ 0
v3.25.4
Restructuring and Employee Severance Narative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]        
Employee-related costs $ 15 $ 3 $ 30 $ 19
Facility Exit and Other Costs $ 6 $ 6 $ 11 $ 14
v3.25.4
Goodwill and Other Intangible Assets (Schedule of Goodwill by Reportable Segment) (Details)
$ in Millions
 6 Months Ended
Dec. 31, 2025
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 9,691
Ending balance 11,609
Goodwill, Acquired During Period 1,918
Pharmaceutical and Specialty Solutions  
Goodwill [Roll Forward]  
Beginning balance 7,943
Ending balance 9,861
Goodwill, Acquired During Period 1,918
Cost of product sold  
Goodwill [Roll Forward]  
Beginning balance 0
Ending balance 0
Goodwill, Acquired During Period 0
Other Segments  
Goodwill [Roll Forward]  
Beginning balance 1,748
Ending balance 1,748
Goodwill, Acquired During Period $ 0
v3.25.4
Goodwill and Other Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-Lived Intangible Assets (Excluding Goodwill) $ 14 $ 13
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross 6,356 6,318
Finite-Lived Intangible Assets, Accumulated Amortization 4,001 3,845
Finite-Lived Intangible Assets, Net $ 2,355 2,473
Finite-Lived Intangible Assets, Remaining Amortization Period 9 years  
Gross Intangible, Total other intangible assets $ 6,370 6,331
Net Intangible, Total other intangible assets 2,369 2,486
Gross Intangible, Total other intangible assets 6,370 6,331
Net Intangible, Total other intangible assets 2,369 2,486
IPR&D,TrademarksandOther [Member]    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-Lived Intangible Assets (Excluding Goodwill) 14 13
Customer-Related Intangible Assets    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross 3,632 3,876
Finite-Lived Intangible Assets, Accumulated Amortization 2,720 2,639
Finite-Lived Intangible Assets, Net $ 912 1,237
Finite-Lived Intangible Assets, Remaining Amortization Period 10 years  
Developed Technology Rights [Member]    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross $ 1,030 1,030
Finite-Lived Intangible Assets, Accumulated Amortization 752 726
Finite-Lived Intangible Assets, Net $ 278 304
Finite-Lived Intangible Assets, Remaining Amortization Period 6 years  
Trademarks And Patents Member    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross $ 1,583 1,340
Finite-Lived Intangible Assets, Accumulated Amortization 503 459
Finite-Lived Intangible Assets, Net $ 1,080 881
Finite-Lived Intangible Assets, Remaining Amortization Period 8 years  
Noncompete Agreements    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross $ 111 72
Finite-Lived Intangible Assets, Accumulated Amortization 26 21
Finite-Lived Intangible Assets, Net $ 85 $ 51
Finite-Lived Intangible Assets, Remaining Amortization Period 4 years  
v3.25.4
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization of intangible assets $ 84 $ 69 $ 171 $ 137
Estimated annual amortization of intangible assets - Remainder of Fiscal Year 193   193  
Estimated annual amortization of intangible assets - Year One 382   382  
Estimated annual amortization of intangible assets - Year Two 349   349  
Estimated annual amortization of intangible assets - Year Three 327   327  
Estimated annual amortization of intangible assets - Year Four $ 306   $ 306  
v3.25.4
Long-Term Obligations and Other Short-Term Borrowings (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Oct. 06, 2026
Jun. 30, 2025
Debt Disclosure [Abstract]      
Long-Term Obligations and Other Short-Term Borrowings
5. Long-Term Obligations and Other Short-Term Borrowings
The following table summarizes long-term obligations and other short-term borrowings at:
(in millions) (1)December 31, 2025June 30, 2025
3.75% Notes due 2025$— $501 
4.7% Notes due 2026499 498 
3.41% Notes due 20271,210 1,206 
5.125% Notes due 2029646 645 
5.0% Notes due 2029745 745 
4.5% Notes due 2030594 — 
5.45% Notes due 2034501 501 
5.35% Notes due 2034990 989 
5.15% Notes due 2035393 — 
4.6% Notes due 2043326 323 
4.5% Notes due 2044339 338 
4.9% Notes due 2045439 438 
4.368% Notes due 2047566 566 
5.75% Notes due 2054641 641 
7.0% Debentures due 2026124 124 
Floating Rate Term Loan due 2028799 799 
Other Obligations215 213 
Total9,027 8,527 
Less: current portion of long-term obligations and other short-term borrowings680 550 
Long-term obligations, less current portion$8,347 $7,977 
(1)    Maturities are presented on a calendar year basis.
Maturities of existing long-term obligations and other short-term borrowings for the remainder of fiscal 2026 through fiscal 2030 and thereafter are as follows:
(in millions)
Debt maturities
2026$27 
20271,882 
2028839 
2029674 
2030766 
Thereafter4,839 
Total debt and finance lease obligations
$9,027 
Long-Term Debt
We had total long-term obligations, including the current portion and other short-term borrowings, of $9.0 billion and $8.5 billion at December 31, 2025 and June 30, 2025, respectively. All the notes represent unsecured obligations of Cardinal Health, Inc. and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness. Interest is paid pursuant to the terms of the obligations. These notes are effectively subordinated to the liabilities of our subsidiaries, including trade payables of $39.0 billion and $34.7 billion at December 31, 2025 and June 30, 2025, respectively.
In August 2025, we issued additional debt, with the aggregate principal amount of $1.0 billion, to fund a portion of the consideration payable in connection with the Solaris Health acquisition and for general purposes. The notes issued are $600 million aggregate principal amount of 4.5% Notes that mature on September 15, 2030 and $400 million aggregate principal amount of 5.15% Notes that mature on September 15, 2035. The proceeds of the notes issued, net of discounts, premiums, and debt issuance costs, were approximately $1.0 billion.
During the three months ended September 30, 2025, we repaid the full principal of $500 million of the 3.75% Notes due 2025 at maturity with available cash.
If we undergo a change of control, as defined in the notes, and if the notes receive specified ratings below investment grade by each of Standard & Poor's Ratings Services, Moody's Investors Services, and Fitch Ratings, any holder of the notes, excluding the debentures, can require with respect to the notes owned by such holder, or we can offer, to repurchase the notes at 101% of the principal amount plus accrued and unpaid interest.
Other Financing Arrangements
In addition to cash and equivalents and operating cash flow, other sources of liquidity at December 31, 2025 include a $3.0 billion commercial paper program backed by a $2.0 billion revolving credit facility that expires in February 2028 and a $1.0 billion 364-Day revolving credit facility that expires in October 2026. We also had a $1.0 billion committed receivables sales facility through September 2028. At December 31, 2025, we had no amounts outstanding under our commercial paper program, revolving credit facility, or our committed receivables sales facility.
In September 2025, we renewed our committed receivables sales facility program through Cardinal Health 23 Funding, LLC (“CHF”) through September 28, 2028.
In October 2025, we renewed the 364-Day revolving credit facility, under which we have access to $1.0 billion of committed liquidity through October 6, 2026.
Our revolving credit and committed receivables sales facilities require us to maintain a consolidated net leverage ratio of no more than 3.75-to-1. As of December 31, 2025, we were in compliance with this financial covenant.
    
Total Long-Term and Short-Term Obligations $ 9,000   $ 8,500
Debt Instrument [Line Items]      
Other Borrowings 215   213
Debt and Lease Obligation 9,027   8,527
Current portion of long-term obligations and other short-term borrowings 680   550
Long-term obligations, less current portion 8,347   7,977
Debt Instrument, Issued, Principal 1,000    
Proceeds from Issuance of Long-Term Debt $ 1,000    
Offer As Percentage Of Principal Amount 101.00%    
Long-Term Debt, Maturity, after Year Five $ 4,839    
Long-Term Debt, Maturity, Year Five 766    
Long-Term Debt, Maturity, Year Four 674    
Long-Term Debt, Maturity, Year Three 839    
Long-Term Debt, Maturity, Year Two 1,882    
Long-Term Debt, Maturity, Year One 27    
Accounts Payable 39,000   34,700
Commercial Paper [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 3,000    
Committed Receivables Sales Facility Program [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 1,000    
Short Term Credit Facilities Member      
Debt Instrument [Line Items]      
Other Short-term Borrowings 0    
Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 2,000    
364-Day Revolving Credit Facility | Backstop Credit Facility      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 1,000    
364-Day Revolving Credit Facility | Backstop Credit Facility | Forecast [Member]      
Debt Instrument [Line Items]      
Debt Instrument, Term   364 days  
364-Day Revolving Credit Facility | Backstop Credit Facility | Subsequent Event      
Debt Instrument [Line Items]      
Line of Credit Facility, Increase (Decrease), Net   $ 1,000  
3.75% Notes due 2025      
Debt Instrument [Line Items]      
Notes Payable 0   501
Notes Payable Repurchased 500    
4.7% Notes due 2026      
Debt Instrument [Line Items]      
Notes Payable 499   498
3.41% Notes due 2027      
Debt Instrument [Line Items]      
Notes Payable 1,210   1,206
5.125% Notes due 2029      
Debt Instrument [Line Items]      
Notes Payable 646   645
5.0% Notes due 2029      
Debt Instrument [Line Items]      
Notes Payable 745   745
4.5% Notes due 2030      
Debt Instrument [Line Items]      
Notes Payable 594   0
Debt Instrument, Issued, Principal 600    
5.45% Notes due 2034      
Debt Instrument [Line Items]      
Notes Payable 501   501
5.35% Notes due 2034      
Debt Instrument [Line Items]      
Notes Payable 990   989
5.15% Notes due 2035      
Debt Instrument [Line Items]      
Notes Payable 393   0
Debt Instrument, Issued, Principal 400    
4.6% Notes due 2043      
Debt Instrument [Line Items]      
Notes Payable 326   323
4.5% Notes due 2044      
Debt Instrument [Line Items]      
Notes Payable 339   338
4.9% Notes due 2045      
Debt Instrument [Line Items]      
Notes Payable 439   438
4.368% Notes due 2047      
Debt Instrument [Line Items]      
Notes Payable 566   566
5.75% Notes due 2054      
Debt Instrument [Line Items]      
Notes Payable 641   641
7.0% Debentures due fiscal 2027      
Debt Instrument [Line Items]      
Notes Payable 124   124
Floating Rate Term Loan due fiscal 2028      
Debt Instrument [Line Items]      
Notes Payable $ 799   $ 799
v3.25.4
Commitments, Contingent Liabilities and Litigation (Details)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended 40 Months Ended 176 Months Ended
Apr. 30, 2023
USD ($)
lawsuit
Jul. 31, 2014
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
numberOfUSTerritories
states
Dec. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2023
USD ($)
Oct. 31, 2024
USD ($)
Dec. 31, 2038
USD ($)
Feb. 04, 2026
lawsuit
Feb. 02, 2026
USD ($)
Oct. 31, 2022
USD ($)
Jul. 31, 2022
USD ($)
Apr. 30, 2018
USD ($)
Loss Contingencies [Line Items]                            
Income from Settlements of Class Action Lawsuits     $ 16 $ 19 $ 59                  
Subsequent Event                            
Loss Contingencies [Line Items]                            
Loss Contingency, Estimate of Possible Loss                     $ 160      
Product Liability Lawsuits | IVC April 2023 Agreement                            
Loss Contingencies [Line Items]                            
Loss Contingency, Claims Settled, Number | lawsuit 4,375                          
Product Liability Lawsuits | Minimum                            
Loss Contingencies [Line Items]                            
Loss Contingency Accrual       36                    
Total Opioid Litigation [Member]                            
Loss Contingencies [Line Items]                            
Estimated Litigation Liability       4,300                    
Estimated Litigation Liability, Current       477                    
Litigation Settlement, Loss       403   $ 798                
New York Opioid Stewardship Act [Member]                            
Loss Contingencies [Line Items]                            
Aggregate Annual Assessment                           $ 100
Loss Contingency, Receivable, Proceeds       $ 17                    
Opioid Lawsuits [Member]                            
Loss Contingencies [Line Items]                            
Settling States | states       48                    
Settling U.S Territories | numberOfUSTerritories       5                    
Payments for Legal Settlements               $ 2,200            
Insurance Recoveries       $ 5   $ 25                
Opioid Lawsuits [Member] | Subsequent Event                            
Loss Contingencies [Line Items]                            
Payments for Legal Settlements                 $ 4,100          
Opioid Lawsuits [Member] | WEST VIRGINIA                            
Loss Contingencies [Line Items]                            
Loss Contingency, Estimate of Possible Loss                         $ 124  
Opioid Lawsuits [Member] | Native American tribes                            
Loss Contingencies [Line Items]                            
Loss Contingency, Estimate of Possible Loss                       $ 136    
Opioid Lawsuits [Member] | Private Parties [Member] | Subsequent Event                            
Loss Contingencies [Line Items]                            
Loss Contingency, Lawsuits, Number | lawsuit                   193        
Opioid Lawsuits [Member] | Class Action Lawsuits [Member] | Private Parties [Member]                            
Loss Contingencies [Line Items]                            
Estimated Litigation Liability       $ 213                    
Opioid Lawsuits [Member] | Class Action Lawsuits [Member] | Private Parties [Member] | Subsequent Event                            
Loss Contingencies [Line Items]                            
Loss Contingency, Lawsuits, Number | lawsuit                   51        
Product Liability Lawsuits | IVC April 2023 Agreement                            
Loss Contingencies [Line Items]                            
Loss Contingency, Estimate of Possible Loss $ 275                          
Payments for Legal Settlements             $ 35              
CVS Health                            
Loss Contingencies [Line Items]                            
Long-term Purchase Commitment, Period   10 years                        
v3.25.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Income Tax Disclosure [Abstract]          
Effective Income Tax Rate Reconciliation, Percent 25.20% 21.40% 24.70% 22.20%  
Unrecognized tax benefits $ 903   $ 903   $ 879
Unrecognized tax benefits that would impact effective tax rate 877   877   871
Unrecognized tax benefits, interest and penalties accrued $ 77   $ 77   $ 65
v3.25.4
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Sep. 30, 2025
Jun. 30, 2025
Liabilities:            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases $ 213.0   $ 233.0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Vesting 66.0   119.0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Change in Estimated Fair Value (10.0)   0.0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements (6.0)   (22.0)      
Total share-based compensation 31.0 $ 30.0 61.0 $ 60.0    
The Specialty Alliance Units            
Liabilities:            
Total share-based compensation $ 56.0   $ 119.0      
Level 3            
Liabilities:            
Discount Rate, fair value inputs 7.50%   7.50%      
Recurring            
Assets:            
Cash equivalents $ 266.0   $ 266.0     $ 1,672.0
Other investments 112.0   112.0     108.0
Forward Contract (25.0)   (25.0)     (48.0)
Liabilities:            
Forward Contract (25.0)   (25.0)     (48.0)
Equity Securities, FV-NI 1,173.0   1,173.0   $ 910.0 843.0
Recurring | Level 1            
Assets:            
Cash equivalents 266.0   266.0     1,672.0
Other investments 112.0   112.0     108.0
Forward Contract 0.0   0.0     0.0
Liabilities:            
Forward Contract 0.0   0.0     0.0
Equity Securities, FV-NI 0.0   0.0     0.0
Recurring | Level 2            
Assets:            
Cash equivalents 0.0   0.0     0.0
Other investments 0.0   0.0     0.0
Forward Contract (25.0)   (25.0)     (48.0)
Liabilities:            
Forward Contract (25.0)   (25.0)     (48.0)
Equity Securities, FV-NI 0.0   0.0     0.0
Recurring | Level 3            
Assets:            
Cash equivalents 0.0   0.0     0.0
Other investments 0.0   0.0     0.0
Forward Contract 0.0   0.0     0.0
Liabilities:            
Forward Contract 0.0   0.0     0.0
Equity Securities, FV-NI $ 1,173.0   $ 1,173.0     $ 843.0
v3.25.4
Financial Instruments (Narrative) (Details)
€ in Millions, ¥ in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
JPY (¥)
Dec. 31, 2025
EUR (€)
Derivative [Line Items]            
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments $ 0 $ 0 $ 0 $ 0    
September 2023            
Derivative [Line Items]            
[Proceeds from net investment hedge terminations]     3      
March 2023            
Derivative [Line Items]            
Payments for Hedge, Investing Activities     (3)      
Fair Value Hedging | Interest Rate Swap | Designated as Hedging Instrument            
Derivative [Line Items]            
Derivative Liability, Notional Amount   $ 300   $ 300    
Net Investment Hedging [Member] | Currency Swap [Member] | September 2023 | Designated as Hedging Instrument            
Derivative [Line Items]            
Derivatives, Hedge Discontinuances, Termination of Hedging Instrument, Notional Amount 120   120   ¥ 18,000  
Net Investment Hedging [Member] | Currency Swap [Member] | March 2023 | Designated as Hedging Instrument            
Derivative [Line Items]            
Derivatives, Hedge Discontinuances, Termination of Hedging Instrument, Notional Amount 37   37     € 32
Net Investment Hedging [Member] | Currency Swap [Member] | September 2027 | Designated as Hedging Instrument            
Derivative [Line Items]            
Derivative, Notional Amount $ 120   $ 120   ¥ 18,000  
v3.25.4
Financial Instruments Summary of Estimated Fair Value of Long-term Obligations and Other Short-term Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying Amount of Long-Term and other Short-Term Borrowings $ 9,027 $ 8,527
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Estimated fair value $ 8,208 $ 8,388
v3.25.4
Shareholders' Equity (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 15, 2025
Oct. 31, 2025
Oct. 30, 2024
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Class of Stock [Line Items]                  
Purchase of treasury shares               $ 758 $ 390
Retirement of treasury stock           0     0
$375 million share repurchase program                  
Class of Stock [Line Items]                  
Purchase of treasury shares       $ 375 $ 375   $ 375    
Share Repurchase Programs                  
Class of Stock [Line Items]                  
Share Repurchase Program, Excise Tax               8 $ 15
Share Repurchase Program, Excise Tax               8 15
Treasury Stock, Common                  
Class of Stock [Line Items]                  
Purchase of treasury shares               $ 750 $ 375
Treasury Stock, Shares, Acquired       (2,000,000)   0   (4,000,000) (3,000,000)
Retirement of treasury stock       56,000,000   56,000,000     56,000,000
Treasury Stock, Common | $375 million share repurchase program                  
Class of Stock [Line Items]                  
Treasury shares acquired, average price per share (in usd per share) $ 200.00 $ 151.88 $ 110.10 $ 190.22 $ 148.12   $ 109.65    
Treasury Stock, Common | $375 million share repurchase program                  
Class of Stock [Line Items]                  
Treasury Stock, Shares, Acquired (300,000) (400,000) (700,000) (1,600,000) (2,000,000.0)   (2,700,000)    
v3.25.4
Shareholders' Equity (Changes in the Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
AOCI, Net of Tax [Roll Forward]        
Balance at beginning of period $ (2,731) $ (3,276) $ (2,634) $ (3,212)
Other Comprehensive Income (Loss), Tax     4 (2)
Total other comprehensive income/(loss), net of tax 6 (25) 2 (13)
Balance at end of period (2,700) (2,921) (2,700) (2,921)
Foreign Currency Translation Adjustments        
AOCI, Net of Tax [Roll Forward]        
Balance at beginning of period     (141) (138)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax     5 (11)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax     0 0
Total other comprehensive income/(loss), net of tax     5 (11)
Balance at end of period (136) (149) (136) (149)
Accumulated Other Comprehensive Loss        
AOCI, Net of Tax [Roll Forward]        
Balance at beginning of period     (155) (167)
Total other comprehensive income/(loss), net of tax     2 (13)
Balance at end of period (153) (180) (153) (180)
AOCI Attributable to Parent        
AOCI, Net of Tax [Roll Forward]        
Balance at beginning of period (159) (155) (155) (167)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax     8 (9)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax     (6) (4)
Balance at end of period (153) (180) (153) (180)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Noncontrolling Interest        
AOCI, Net of Tax [Roll Forward]        
Balance at beginning of period     (14) (29)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax     3 2
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax     (6) (4)
Total other comprehensive income/(loss), net of tax     (3) (2)
Balance at end of period $ (17) $ (31) $ (17) $ (31)
v3.25.4
Earnings Per Share Attributable to Cardinal Health, Inc. (Reconciliation of Common Shares Used to Compute Basic and Diluted EPS) (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Earnings Per Share [Abstract]        
Weighted-average common shares–basic (in shares) 236 242 237 242
Effect of dilutive securities:        
Employee stock options, restricted share units, and performance share units (in shares) 1 1 1 1
Weighted-average common shares–diluted (in shares) 237 243 238 243
v3.25.4
Segment Information (Narrative) (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
segment
Segments
Dec. 31, 2024
USD ($)
Segment Reporting Information [Line Items]        
Number of reportable segments | segment     2  
Project costs on investment and other spending $ 15   $ 31 $ 27
Depreciation and amortization 234 $ 192 467 374
Corporate        
Segment Reporting Information [Line Items]        
Depreciation and amortization 85 46 173 134
Cost of product sold | Operating Segments        
Segment Reporting Information [Line Items]        
Depreciation and amortization 55 60 $ 110 109
Other Segments        
Segment Reporting Information [Line Items]        
Number of operating segments | Segments     3  
Other Segments | Operating Segments        
Segment Reporting Information [Line Items]        
Depreciation and amortization 30 40 $ 59 58
Pharmaceutical and Specialty Solutions | Operating Segments        
Segment Reporting Information [Line Items]        
Depreciation and amortization $ 64 $ 46 $ 125 $ 73
v3.25.4
Segment Information (Revenue by Reportable Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]        
Total revenue $ 65,627 $ 55,264 $ 129,636 $ 107,541
Operating Segments        
Segment Reporting Information [Line Items]        
Total revenue 65,652 55,286 129,682 107,585
Operating Segments | Pharmaceutical and Specialty Solutions        
Segment Reporting Information [Line Items]        
Total revenue 60,669 50,849 119,874 98,839
Operating Segments | Cost of product sold        
Segment Reporting Information [Line Items]        
Total revenue 3,259 3,154 6,443 6,277
Operating Segments | Other Segments        
Segment Reporting Information [Line Items]        
Total revenue 1,724 1,283 3,365 2,469
Corporate        
Segment Reporting Information [Line Items]        
Total revenue (25) (22) (46) (44)
Nuclear Precision Health Services [Member] | Operating Segments | Other Segments        
Segment Reporting Information [Line Items]        
Total revenue 440 372 876 745
OptiFreight Logistics [Member] | Operating Segments | Other Segments        
Segment Reporting Information [Line Items]        
Total revenue 99 76 189 150
at-Home Solutions [Member] | Operating Segments | Other Segments        
Segment Reporting Information [Line Items]        
Total revenue $ 1,185 $ 835 $ 2,300 $ 1,574
v3.25.4
Segment Information Revenue From External Customers By Geographic Areas (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Revenue from External Customers by Geographic Area [Line Items]        
Revenue $ 65,627 $ 55,264 $ 129,636 $ 107,541
UNITED STATES        
Segment Revenue from External Customers by Geographic Area [Line Items]        
Revenue 65,217 54,858 128,828 106,749
Non-US [Member]        
Segment Revenue from External Customers by Geographic Area [Line Items]        
Revenue 435 428 854 836
Operating Segments        
Segment Revenue from External Customers by Geographic Area [Line Items]        
Revenue 65,652 55,286 129,682 107,585
Corporate        
Segment Revenue from External Customers by Geographic Area [Line Items]        
Revenue $ (25) $ (22) $ (46) $ (44)
v3.25.4
Segment Information (Segment Profit by Reportable Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings $ 707 $ 549 $ 1,375 $ 1,117
Cost of products sold 63,230 53,323 124,920 103,698
Distribution, selling, general and administrative expenses 1,504 1,306 2,965 2,583
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings 903 667 1,782 1,309
Cost of products sold 63,254 53,343 124,965 103,740
Distribution, selling, general and administrative expenses 1,495 1,276 2,935 2,536
Costs and Expenses 64,749 54,619 127,900 106,276
Operating Segments | Pharmaceutical and Specialty Solutions        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings 687 531 1,354 1,061
Cost of products sold 59,243 49,750 117,100 96,659
Distribution, selling, general and administrative expenses 739 568 1,420 1,119
Costs and Expenses 59,982 50,318 118,520 97,778
Operating Segments | Cost of product sold        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings 37 18 83 26
Cost of products sold 2,720 2,624 5,353 5,228
Distribution, selling, general and administrative expenses 502 512 1,007 1,023
Costs and Expenses 3,222 3,136 6,360 6,251
Operating Segments | Other Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings 179 118 345 222
Cost of products sold 1,291 969 2,512 1,853
Distribution, selling, general and administrative expenses 254 196 508 394
Costs and Expenses 1,545 1,165 3,020 2,247
Corporate        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total operating earnings $ (196) $ (118) $ (407) $ (192)
v3.25.4
Segment Information (Assets by Reportable Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2025
Segment Reporting Information [Line Items]            
Total assets $ 58,083   $ 58,083     $ 53,122
Property and equipment, net 2,877   2,877     2,858
Segment, Expenditure, Addition to Long-Lived Assets 131 $ 99 239   $ 189  
Depreciation and amortization 234 192 467 $ 374    
UNITED STATES            
Segment Reporting Information [Line Items]            
Property and equipment, net 2,445   2,445     2,422
Non-US [Member]            
Segment Reporting Information [Line Items]            
Property and equipment, net 432   432     436
Operating Segments | Pharmaceutical and Specialty Solutions            
Segment Reporting Information [Line Items]            
Total assets 43,405   43,405     37,313
Segment, Expenditure, Addition to Long-Lived Assets 23 12 55   23  
Depreciation and amortization 64 46 125 73    
Operating Segments | Cost of product sold            
Segment Reporting Information [Line Items]            
Total assets 6,993   6,993     6,889
Segment, Expenditure, Addition to Long-Lived Assets 23 21 42   44  
Depreciation and amortization 55 60 110 109    
Operating Segments | Other Segments            
Segment Reporting Information [Line Items]            
Total assets 4,073   4,073     4,045
Segment, Expenditure, Addition to Long-Lived Assets 23 22 38   34  
Depreciation and amortization 30 40 59 58    
Corporate            
Segment Reporting Information [Line Items]            
Total assets 3,612   3,612     $ 4,875
Segment, Expenditure, Addition to Long-Lived Assets 62 44 104   $ 88  
Depreciation and amortization $ 85 $ 46 $ 173 $ 134    
v3.25.4
Share-Based Compensation (Narrative) (Details)
shares in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
yr
shares
Dec. 31, 2024
USD ($)
Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Tax benefit related to share-based compensation $ 4,000,000 $ 4,000,000 $ 7,000,000 $ 7,000,000  
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | shares 16,000   16,000    
Total share-based compensation $ 31,000,000 30,000,000 $ 61,000,000 60,000,000  
Restricted Share Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period (in years)     3 years    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 98,000,000   $ 98,000,000    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years    
Total share-based compensation 16,000,000 18,000,000 $ 34,000,000 37,000,000  
Performance Share Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 63,000,000   $ 63,000,000    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years    
Vesting Period in years for Shares | yr     3    
Total share-based compensation 15,000,000 $ 12,000,000 $ 27,000,000 $ 23,000,000  
Performance Share Units | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Target performance goal (as a percent)     0.00% 0.00%  
Performance Share Units | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Target performance goal (as a percent)     240.00% 240.00%  
GIA Common Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 531,000,000   $ 531,000,000    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     3 years   2 years
Total share-based compensation     $ 119,000,000    
Share-Based Payment Arrangement, Income, Decrease in Fair Value of Liabilities     (10,000,000)    
Share-Based Payment Arrangement, Acquisition Related Expense 54,000,000   115,000,000    
Share-Based Payment Arrangement, Non-Acquisition-Related Expense $ 2,000,000   $ 4,000,000    
v3.25.4
Share-Based Compensation (Schedule of Total Share-Based Compensation Expense by Type of Award) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation $ 31.0 $ 30.0 $ 61.0 $ 60.0
Tax benefit related to share-based compensation 4.0 4.0 7.0 7.0
Restricted Share Unit        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation 16.0 18.0 34.0 37.0
Performance Share Unit        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation $ 15.0 $ 12.0 27.0 $ 23.0
GIA Common Stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation     $ 119.0  
v3.25.4
Share-Based Compensation (Schedule of All Transactions Related to Restricted Share Units Under the Plans) (Details) - Restricted Share Units - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 3.0 $ 3.0 $ 56.0 $ 56.0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 98.0   $ 98.0  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years  
Restricted Share Units        
Nonvested at beginning of period (in shares)     1.4  
Granted (in shares)     0.4  
Vested (in shares)     (0.7)  
Canceled and forfeited (in shares)     0.0  
Nonvested at end of period (in shares) 1.1   1.1  
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 86.30  
Granted (in usd per share)     151.37  
Vested (in usd per share)     89.23  
Canceled and forfeited (in usd per share)     121.81  
Nonvested at end of period (in usd per share) $ 110.11   $ 110.11  
v3.25.4
Share-Based Compensation (Schedule of All Transactions Related to Performance Share Units Under the Plans) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Weighted-Average Grant Date Fair Value per Share        
Tax benefit related to share-based compensation $ 4.0 $ 4.0 $ 7.0 $ 7.0
Performance Share Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested     $ 108.0 49.0
Performance Share Units        
Nonvested at beginning of period (in shares)     1.5  
Granted (in shares)     0.5  
Vested (in shares)     (0.7)  
Canceled and forfeited (in shares)     0.0  
Nonvested at end of period (in shares) 1.3   1.3  
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 99.45  
Granted (in usd per share)     153.66  
Vested (in usd per share)     92.71  
Canceled and forfeited (in usd per share)     0  
Nonvested at end of period (in usd per share) $ 117.36   $ 117.36  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 63.0   $ 63.0  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years  
Restricted Share Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 3.0 $ 3.0 $ 56.0 $ 56.0
Performance Share Units        
Nonvested at beginning of period (in shares)     1.4  
Granted (in shares)     0.4  
Vested (in shares)     (0.7)  
Canceled and forfeited (in shares)     0.0  
Nonvested at end of period (in shares) 1.1   1.1  
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 86.30  
Granted (in usd per share)     151.37  
Vested (in usd per share)     89.23  
Canceled and forfeited (in usd per share)     121.81  
Nonvested at end of period (in usd per share) $ 110.11   $ 110.11  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 98.0   $ 98.0  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years  
Award vesting period (in years)     3 years  
v3.25.4
Share-Based Compensation GIA (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation $ 31.0 $ 30.0 $ 61.0 $ 60.0
GIA Common Units        
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 1.54  
Nonvested at end of period (in usd per share)        
Performance Share Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation 15.0 12.0 $ 27.0 23.0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested     108.0 49.0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 63.0   $ 63.0  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years  
GIA Common Units        
Nonvested at beginning of period (in shares)     1,500  
Granted (in shares)     500  
Vested (in shares)     (700)  
Canceled and forfeited (in shares)     0  
Nonvested at end of period (in shares) 1,300   1,300  
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 99.45  
Granted (in usd per share)     153.66  
Vested (in usd per share)     92.71  
Canceled and forfeited (in usd per share)     0  
Nonvested at end of period (in usd per share) $ 117.36   $ 117.36  
Restricted Share Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation $ 16.0 18.0 $ 34.0 37.0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested 3.0 $ 3.0 56.0 $ 56.0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 98.0   $ 98.0  
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition     2 years  
GIA Common Units        
Nonvested at beginning of period (in shares)     1,400  
Granted (in shares)     400  
Vested (in shares)     (700)  
Canceled and forfeited (in shares)     0  
Nonvested at end of period (in shares) 1,100   1,100  
Weighted-Average Grant Date Fair Value per Share        
Nonvested at beginning of period (in usd per share)     $ 86.30  
Granted (in usd per share)     151.37  
Vested (in usd per share)     89.23  
Canceled and forfeited (in usd per share)     121.81  
Nonvested at end of period (in usd per share) $ 110.11   $ 110.11  
GIA Units        
GIA Common Units        
Nonvested at beginning of period (in shares)     206,000  
Granted (in shares)     217,000  
Vested (in shares)     (77,000)  
Canceled and forfeited (in shares)     (1,000)  
Nonvested at end of period (in shares) 345,000   345,000  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Number 760,000   760,000  
Weighted-Average Grant Date Fair Value per Share        
Granted (in usd per share)     $ 1.54  
Vested (in usd per share)     1.54  
Canceled and forfeited (in usd per share)     1.54  
Nonvested at end of period (in usd per share) $ 1.54   1.54  
Vested at end of period (in usd per share) $ 1.54   $ 1.54