CENCORA, INC., 10-Q filed on 5/7/2025
Quarterly Report
v3.25.1
Cover - shares
 6 Months Ended
Mar. 31, 2025
Apr. 30, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 1-16671  
Entity Registrant Name CENCORA, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 23-3079390  
Entity Address, Address Line One 1 West First Avenue  
Entity Address, City or Town Conshohocken,  
Entity Address, State or Province PA  
Entity Address, Postal Zip Code 19428-1800  
City Area Code 610  
Local Phone Number 727-7000  
Title of 12(b) Security Common stock, par value $0.01 per share  
Trading Symbol COR  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   193,823,487
Entity Central Index Key 0001140859  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Current Fiscal Year End Date --09-30  
v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Sep. 30, 2024
Current assets:    
Cash and cash equivalents $ 1,978,061 $ 3,132,648
Accounts receivable, less allowances for returns and credit losses: $1,437,659 as of March 31, 2025 and $1,308,018 as of September 30, 2024 23,715,008 23,871,815
Inventories 18,965,502 18,998,833
Right to recover assets 1,301,531 1,175,871
Prepaid expenses and other 574,871 538,646
Total current assets 46,534,973 47,717,813
Property and equipment, net 2,302,809 2,181,410
Goodwill 14,091,412 9,318,027
Other intangible assets 3,862,835 4,001,046
Deferred income taxes 233,700 246,348
Other assets 4,168,145 3,637,023
TOTAL ASSETS 71,193,874 67,101,667
Current liabilities:    
Accounts payable 50,110,563 50,942,162
Accrued expenses and other 2,447,498 2,758,560
Short-term debt 770,321 576,331
Total current liabilities 53,328,382 54,277,053
Long-term debt 7,085,886 3,811,745
Accrued income taxes 277,738 291,796
Deferred income taxes 1,615,752 1,643,746
Accrued litigation liability 4,284,602 4,296,902
Other liabilities 3,421,715 1,993,683
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock, $0.01 par value - authorized, issued, and outstanding: 600,000,000 shares, 297,247,152 shares, and 193,783,768 shares as of March 31, 2025, respectively, and 600,000,000 shares, 296,169,781 shares, and 194,943,968 shares as of September 30, 2024, respectively 2,972 2,962
Additional paid-in capital 6,142,056 6,030,790
Retained earnings 6,401,534 5,417,139
Accumulated other comprehensive loss (1,201,838) (989,118)
Treasury stock, at cost: 103,463,384 shares as of March 31, 2025 and 101,225,813 shares as of September 30, 2024 (10,331,887) (9,815,835)
Total Cencora, Inc. stockholders' equity 1,012,837 645,938
Noncontrolling interests 166,962 140,804
Total stockholders' equity 1,179,799 786,742
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 71,193,874 $ 67,101,667
v3.25.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Sep. 30, 2024
Statement of Financial Position [Abstract]    
Allowances for returns and credit losses $ 1,437,659 $ 1,308,018
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 600,000,000 600,000,000
Common stock, issued (in shares) 297,247,152 296,169,781
Common stock, outstanding (in shares) 193,783,768 194,943,968
Treasury stock (in shares) 103,463,384 101,225,813
v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]        
Revenue $ 75,453,673 $ 68,414,307 $ 156,940,733 $ 140,667,140
Cost of goods sold 72,393,864 65,876,284 151,322,886 135,660,305
Gross profit 3,059,809 2,538,023 5,617,847 5,006,835
Operating expenses:        
Distribution, selling, and administrative 1,600,040 1,388,810 3,072,095 2,787,557
Depreciation 121,815 106,230 234,527 210,408
Amortization 138,003 165,502 303,783 331,927
Litigation and opioid-related expenses, net 11,524 225,985 28,289 147,068
Acquisition-related deal and integration expenses 99,380 22,610 138,092 43,673
Restructuring and other expenses 52,857 75,627 98,617 110,068
Operating income 1,036,190 553,259 1,742,444 1,376,134
Other loss, net 3,546 22,063 61,420 20,976
Interest expense, net 103,988 64,130 131,921 104,694
Income before income taxes 928,656 467,066 1,549,103 1,250,464
Income tax expense 211,239 45,861 337,967 226,251
Net income 717,417 421,205 1,211,136 1,024,213
Net loss (income) attributable to noncontrolling interests 454 (430) (4,665) (1,938)
Net income attributable to Cencora, Inc. $ 717,871 $ 420,775 $ 1,206,471 $ 1,022,275
Earnings per share:        
Basic (in usd per share) $ 3.70 $ 2.11 $ 6.23 $ 5.12
Diluted (in usd per share) $ 3.68 $ 2.09 $ 6.18 $ 5.07
Weighted average common shares outstanding:        
Basic (in shares) 193,796 199,406 193,780 199,747
Diluted (in shares) 195,094 201,177 195,144 201,510
Cash dividends declared per share of common stock (in usd per share) $ 0.550 $ 0.510 $ 1.10 $ 1.02
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 717,417 $ 421,205 $ 1,211,136 $ 1,024,213
Other comprehensive income (loss)        
Foreign currency translation adjustments 206,123 (128,675) (218,428) 142,847
Other, net 200 15 3,813 (73)
Total other comprehensive income (loss) 206,323 (128,660) (214,615) 142,774
Total comprehensive income 923,740 292,545 996,521 1,166,987
Comprehensive (income) loss attributable to noncontrolling interests (8,083) 4,427 (2,770) (2,393)
Comprehensive income attributable to Cencora, Inc. $ 915,657 $ 296,972 $ 993,751 $ 1,164,594
v3.25.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Noncontrolling Interests
Beginning balance at Sep. 30, 2023 $ 666,287 $ 2,948 $ 5,844,578 $ 4,324,187 $ (1,402,607) $ (8,247,103) $ 144,284
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 1,024,213     1,022,275     1,938
Other comprehensive income (loss) 142,774       142,319   455
Cash dividends (212,692)     (212,692)      
Exercises of stock options 18,629 2 18,627        
Share-based compensation expense 91,232   91,232        
Purchases of common stock (439,752)         (439,752)  
Employee tax withholdings related to restricted share vesting (60,086)         (60,086)  
Other, net (3,583) 9 (795)       (2,797)
Ending balance at Mar. 31, 2024 1,227,022 2,959 5,953,642 5,133,770 (1,260,288) (8,746,941) 143,880
Beginning balance at Dec. 31, 2023 1,061,256 2,957 5,917,058 4,819,997 (1,136,485) (8,691,824) 149,553
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 421,205     420,775     430
Other comprehensive income (loss) (128,660)       (123,803)   (4,857)
Cash dividends (107,002)     (107,002)      
Exercises of stock options 7,703 1 7,702        
Share-based compensation expense 28,156   28,156        
Purchases of common stock (51,279)         (51,279)  
Employee tax withholdings related to restricted share vesting (3,838)         (3,838)  
Other, net (519) 1 726       (1,246)
Ending balance at Mar. 31, 2024 1,227,022 2,959 5,953,642 5,133,770 (1,260,288) (8,746,941) 143,880
Beginning balance at Sep. 30, 2024 786,742 2,962 6,030,790 5,417,139 (989,118) (9,815,835) 140,804
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 1,211,136     1,206,471     4,665
Other comprehensive income (loss) (214,615)       (212,720)   (1,895)
Cash dividends (222,076)     (222,076)      
Exercises of stock options 15,778 2 15,776        
Share-based compensation expense 98,836   98,836        
Purchases of common stock (438,494)         (438,494)  
Employee tax withholdings related to restricted share vesting (77,558)         (77,558)  
Acquisitions 23,557           23,557
Other, net (3,507) 8 (3,346)       (169)
Ending balance at Mar. 31, 2025 1,179,799 2,972 6,142,056 6,401,534 (1,201,838) (10,331,887) 166,962
Beginning balance at Dec. 31, 2024 361,902 2,971 6,106,291 5,794,851 (1,399,624) (10,277,909) 135,322
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 717,417     717,871     (454)
Other comprehensive income (loss) 206,323       197,786   8,537
Cash dividends (111,188)     (111,188)      
Exercises of stock options 7,670 1 7,669        
Share-based compensation expense 28,452   28,452        
Purchases of common stock (50,383)         (50,383)  
Employee tax withholdings related to restricted share vesting (3,595)         (3,595)  
Acquisitions 23,557           23,557
Other, net (356)   (356)        
Ending balance at Mar. 31, 2025 $ 1,179,799 $ 2,972 $ 6,142,056 $ 6,401,534 $ (1,201,838) $ (10,331,887) $ 166,962
v3.25.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]        
Cash dividends (in usd per share) $ 0.550 $ 0.510 $ 1.10 $ 1.02
v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net income $ 1,211,136 $ 1,024,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, including amounts charged to cost of goods sold 237,226 222,678
Amortization, including amounts charged to interest expense 308,219 335,523
Provision for credit losses 12,355 27,597
Provision (benefit) for deferred income taxes 21,133 (36,144)
Share-based compensation expense 98,836 91,232
LIFO expense (credit) 32,145 (71,280)
Turkey highly inflationary impact 26,060 40,129
Adjustments to RCA equity units (Note 2) 37,460 0
Loss on divestiture of businesses 35,539 0
(Gain) loss on remeasurement of equity investment (3,300) 11,431
Other, net 9,814 14,158
Changes in operating assets and liabilities, excluding the effects of acquisitions and divestitures:    
Accounts receivable (218,043) (1,682,145)
Inventories 34,252 (119,023)
Prepaid expenses and other assets 94,273 20,396
Accounts payable (669,479) 497,670
Accrued expenses (489,470) (234,547)
Income taxes payable and other liabilities (145,700) (43,000)
Long-term accrued litigation liability 0 (92,174)
NET CASH PROVIDED BY OPERATING ACTIVITIES 632,456 6,714
INVESTING ACTIVITIES    
Capital expenditures (234,953) (186,970)
Cost of acquired companies, net of cash acquired (3,947,761) (2,310)
Cost of equity investments (192,576) (8,021)
Non-customer note receivable (34,814) (50,000)
Other, net (10,558) 15,014
NET CASH USED IN INVESTING ACTIVITIES (4,420,662) (232,287)
FINANCING ACTIVITIES    
Senior notes and loan borrowings 3,320,674 634,946
Senior notes and loan repayments (548,565) (119,857)
Borrowings under revolving and securitization credit facilities 43,631,727 47,936,041
Repayments under revolving and securitization credit facilities (42,948,335) (47,978,721)
Purchases of common stock (435,471) (436,378)
Exercises of stock options 15,778 18,629
Cash dividends on common stock (222,076) (212,692)
Employee tax withholdings related to restricted share vesting (77,558) (60,086)
Other, net (18,762) (10,381)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,717,412 (228,499)
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (48,520) (13,671)
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (1,119,314) (467,743)
Cash, cash equivalents, and restricted cash at beginning of period 3,297,880 2,752,889
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 2,178,566 $ 2,285,146
v3.25.1
Summary of Significant Accounting Policies
 6 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation
The accompanying financial statements present the consolidated financial position, results of operations, and cash flows of Cencora, Inc. and its subsidiaries, including less-than-wholly-owned subsidiaries in which Cencora, Inc. has a controlling financial interest (the "Company"), as of the dates and for the periods indicated. All significant intercompany accounts and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring accruals, except as otherwise disclosed herein) considered necessary to present fairly the financial position as of March 31, 2025 and the results of operations and cash flows for the interim periods ended March 31, 2025 and 2024 have been included. Certain information and disclosures normally included in financial statements presented in accordance with U.S. GAAP, but which are not required for interim reporting purposes, have been omitted. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024.
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ from these estimated amounts. Certain reclassifications have been made to prior-period amounts in order to conform to the current year presentation.
Restricted Cash
The Company is required to maintain certain cash deposits with banks mainly consisting of deposits restricted under contractual agency agreements and cash restricted by law and other obligations.
The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to cash, cash equivalents, and restricted cash in the Consolidated Statements of Cash Flows:
(amounts in thousands)March 31,
2025		September 30,
2024		March 31,
2024		September 30,
2023
(unaudited)(unaudited)
Cash and cash equivalents$1,978,061 $3,132,648 $2,068,858 $2,592,051 
Restricted cash (included in Prepaid Expenses and Other)132,298 98,596 151,446 97,722 
Restricted cash (included in Other Assets)68,207 66,636 64,842 63,116 
Cash, cash equivalents, and restricted cash$2,178,566 $3,297,880 $2,285,146 $2,752,889 
Recently Adopted Accounting Pronouncements
As of March 31, 2025, there were no recently-adopted accounting standards that had a material impact on the Company’s financial position, results of operations, cash flows, or notes to the financial statements upon their adoption.
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07")." ASU 2023-07 requires public entities to disclose significant segment expenses on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss that are currently required annually. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance should be applied retrospectively to all periods presented in the financial statements. The Company is evaluating the impact of adopting this new accounting guidance.
In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09")." ASU 2023-09 requires entities to provide additional information in their tax rate reconciliation and additional disclosures about income taxes paid by jurisdiction. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The guidance should be applied prospectively, but entities have the option to apply it retrospectively for each period presented. The Company is evaluating the impact of adopting this new accounting guidance.
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03")." ASU 2024-03 requires disaggregated disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. Expense captions should be disaggregated to include expenses related to purchases of inventory, employee compensation, depreciation, and intangible asset amortization. ASU 2024-03 applies to public entities and is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The guidance should be applied prospectively with the option for retrospective application. The Company is evaluating the impact of adopting this new accounting guidance.
v3.25.1
Acquisition
 6 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisition Acquisition
On January 2, 2025, the Company acquired an 85% interest in Retina Consultants of America ("RCA") for $4,036.1 million in cash (subject to customary post-closing adjustments), $694.4 million of contingent consideration related to equity units for certain RCA physicians and members of management that retained the remaining 15% interest in RCA, $556.0 million for the settlement of a receivable resulting from a pre-existing commercial relationship between the Company and RCA, and $393.1 million for contingent consideration payable to the sellers associated with RCA's achievement of certain predefined business objectives in fiscal 2027 and fiscal 2028. The Company funded the cash purchase price through a combination of cash on hand and new debt financing (see Note 6). The Company believes the acquisition of RCA will allow it to broaden its relationships with community providers and to build on its leadership in specialty pharmaceuticals within its U.S. Healthcare Solutions reportable segment.
The purchase price has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of the acquisition in the table that follows. The allocation as of March 31, 2025 is pending the finalization of the third-party appraisals of intangible assets and corresponding deferred taxes, the finalization of working capital and related account balances, and the lease right-of-use assets and liabilities. There can be no assurance that the estimated amounts recorded will represent the final purchase price allocation.
(in thousands)
Consideration
Cash$4,036,055 
Total estimated contingent consideration1,087,450 
Settlement of a receivable resulting from a pre-existing commercial relationship556,042 
Estimated fair value of total consideration$5,679,547 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$143,312 
Accounts receivable449,897 
Inventories110,564 
Prepaid expenses and other12,866 
Property and equipment173,098 
Goodwill4,799,490 
Other intangible assets178,000 
Deferred income taxes37,911 
Other assets222,283 
Total assets acquired$6,127,421 
Accounts payable$72,385 
Accrued expenses and other162,854 
Accrued income taxes2,859 
Other liabilities209,441 
Total liabilities assumed$447,539 
Net assets acquired$5,679,882 
Total estimated contingent consideration(1,087,450)
Settlement of a receivable resulting from a pre-existing commercial relationship(556,042)
Noncontrolling interest(335)
Total cash paid4,036,055 
Cash acquired(143,312)
Net cash paid$3,892,743 
As part of the acquisition, certain RCA physicians and members of management retained equity in RCA. The Company evaluated the equity unit arrangements to determine if the contingent payments were part of the purchase price or post-acquisition compensation expense, which would be recognized over any future service period. The $694.4 million of contingent consideration for the retained equity units was concluded to be a part of the purchase price and initially recorded at its fair value at the time of the acquisition based on the unit price that the Company paid to acquire RCA times the number of equity units retained by RCA physicians and members of management, and represents a Level 3 fair value measurement. The equity units retained by RCA physicians have an embedded option feature that is a liability classified compensation arrangement. The estimated initial fair value of this embedded option feature is approximately $211 million and will be expensed ratably over a period of 1.5 years. The fair value of the embedded option feature was determined using a Black-Scholes model that included assumptions for expected life and volatility, and represents a Level 3 fair value measurement. During the three months ended March 31, 2025, the Company recognized an additional liability and expense of $37.5 million related to this embedded option feature and other incentive units granted in conjunction with the acquisition of RCA in Acquisition-Related Deal and Integration Expenses in its Consolidated Statement of Operations. The liability and associated future expenses may vary based on the change in the estimated fair value. There was no change in the estimated fair value of the liability related to the equity units, which is recorded in Other Liabilities on the Company's Consolidated Balance Sheet, as of March 31, 2025, from the estimated initial fair value.
The $393.1 million of contingent consideration represents an estimate for RCA's achievement of certain predefined business objectives in fiscal 2027 and fiscal 2028 and provides for the potential payment to the sellers of up to $500 million in the aggregate. The fair value of this liability was determined based on a weighted probability of the achievement of these objectives, and represents a Level 3 fair value measurement. There was no change in the estimated fair value of the liability related to the achievement of the predetermined business objectives, which is recorded in Other Liabilities on the Company's Consolidated Balance Sheet, as of March 31, 2025.
The estimated fair value of the trade name acquired is $178.0 million and the estimated useful life is 15 years.
Approximately $1,055 million of goodwill resulting from this acquisition is expected to be deductible for income tax purposes.
The Company incurred $65.1 million of acquisition-related costs in connection with this acquisition in the six months ended March 31, 2025. These costs are included in Acquisition-Related Deal and Integration Expenses in the Company's Consolidated Statements of Operations.
The Company's consolidated results of operations since the acquisition date include RCA revenue of $672.4 million. RCA's results of operations are included in the U.S. Healthcare Solutions reportable segment within the Company's business segment information (see Note 12).
v3.25.1
Variable Interest Entity
 6 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entity Variable Interest Entity
The Company has substantial governance rights over Profarma Distribuidora de Produtos Farmacêuticos S.A. ("Profarma") that allow it to direct the activities that significantly impact Profarma’s economic performance. As such, the Company consolidates the operating results of Profarma in its consolidated financial statements. The Company is not obligated to provide future financial support to Profarma.
The following assets and liabilities of Profarma are included in the Company's Consolidated Balance Sheets:
(in thousands)March 31,
2025		September 30,
2024
Cash and cash equivalents$14,888 $58,082 
Accounts receivables, net245,532 236,930 
Inventories266,783 259,299 
Prepaid expenses and other57,810 68,612 
Property and equipment, net54,317 49,869 
Other intangible assets55,988 58,116 
Other long-term assets90,115 83,765 
Total assets$785,433 $814,673 
Accounts payable$323,562 $307,201 
Accrued expenses and other53,236 56,597 
Short-term debt55,196 76,308 
Long-term debt77,080 91,246 
Deferred income taxes15,545 19,227 
Other long-term liabilities66,577 61,690 
Total liabilities$591,196 $612,269 
Profarma's assets can only be used to settle its obligations, and its creditors do not have recourse to the general credit of the Company.
v3.25.1
Income Taxes
 6 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company files income tax returns in U.S. federal, state, and various foreign jurisdictions. As of March 31, 2025, the Company had unrecognized tax benefits, defined as the aggregate tax effect of differences between tax return positions and the benefits recognized in the Company’s financial statements, of $571.0 million ($519.6 million, net of federal benefit). If recognized, $509.7 million of these tax benefits would have reduced income tax expense and the effective tax rate. Included in this amount is $55.7 million of interest and penalties, which the Company records in Income Tax Expense in its Consolidated Statements of Operations. In the six months ended March 31, 2025, unrecognized tax benefits increased by $26.0 million. Over the next 12 months, tax authority audit resolutions and the expiration of statutes of limitations could result in a reduction of unrecognized tax benefits by approximately $13.1 million.
The Company's effective tax rates were 22.7% and 21.8% for the three and six months ended March 31, 2025 respectively. The Company's effective tax rates were 9.8% and 18.1% for the three and six months ended March 31, 2024, respectively. The effective tax rates for the three and six months ended March 31, 2025 were higher than the U.S. statutory rate primarily due to U.S. state income taxes, offset in part by the benefit of non-U.S. income taxed at rates lower than the U.S. statutory rate and benefits associated with equity compensation. The effective tax rates for the three and six months ended March 31, 2024 were lower than the U.S. statutory rate primarily due to discrete tax benefits associated with foreign valuation allowance adjustments, non-U.S. income taxed at rates lower than the U.S. statutory rate, and tax benefits associated with equity compensation, offset in part by U.S. state income taxes.
v3.25.1
Goodwill and Other Intangible Assets
 6 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The following is a summary of the changes in the carrying value of goodwill, by reportable segment, for the six months ended March 31, 2025:
(in thousands)U. S. Healthcare SolutionsInternational Healthcare SolutionsTotal
Goodwill as of September 30, 2024$6,208,522 $3,109,505 $9,318,027 
Goodwill recognized in connection with acquisitions4,799,490 47,763 4,847,253 
Foreign currency translation(1,093)(72,775)(73,868)
Goodwill as of March 31, 2025$11,006,919 $3,084,493 $14,091,412 
The following is a summary of other intangible assets:
 March 31, 2025September 30, 2024
(in thousands)Weighted Average Remaining Useful LifeGross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Indefinite-lived trade names$17,000 $— $17,000 $17,000 $— $17,000 
Finite-lived:
   Customer relationships13 years5,063,277 (1,671,219)3,392,058 5,090,864 (1,536,081)3,554,783 
   Trade names and other9 years1,433,730 (979,953)453,777 1,259,954 (830,691)429,263 
Total other intangible assets$6,514,007 $(2,651,172)$3,862,835 $6,367,818 $(2,366,772)$4,001,046 
Amortization expense for finite-lived intangible assets was $138.0 million and $165.5 million in the three months ended March 31, 2025 and 2024, respectively. Amortization expense for finite-lived intangible assets was $303.8 million and $331.9 million in the six months ended March 31, 2025 and 2024, respectively. Amortization expense for finite-lived intangible assets is estimated to be $552.7 million in fiscal 2025, $385.4 million in fiscal 2026, $326.9 million in fiscal 2027, $315.1 million in fiscal 2028, $303.0 million in fiscal 2029, and $2,266.5 million thereafter.
v3.25.1
Debt
 6 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
Debt consisted of the following:
(in thousands)March 31,
2025		September 30,
2024
Multi-currency revolving credit facility due in 2029$708,000 $— 
Receivables securitization facility due in 2027— — 
Term loan due in 20271,498,953 — 
364-day revolving credit facility due in 2025
— — 
Money market facility due in 2027— — 
$500,000, 3.250% senior notes due 2025
— 499,738 
$750,000, 3.450% senior notes due 2027
747,728 747,308 
$500,000, 4.625% senior notes due 2027
496,696 — 
$600,000, 4.850% senior notes due 2029
596,199 — 
$500,000, 2.800% senior notes due 2030
496,870 496,564 
$1,000,000, 2.700% senior notes due 2031
993,278 992,718 
$500,000, 5.125% senior notes due 2034
494,810 494,514 
$700,000, 5.150% senior notes due 2035
694,633 — 
$500,000, 4.250% senior notes due 2045
495,685 495,574 
$500,000, 4.300% senior notes due 2047
493,954 493,821 
Alliance Healthcare debt7,125 286 
Nonrecourse debt132,276 167,553 
Total debt7,856,207 4,388,076 
Less current portion of senior notes— 499,738 
Less borrowings outstanding under multi-currency revolving credit facility708,000 — 
Less Alliance Healthcare current portion7,125 286 
Less nonrecourse current portion55,196 76,307 
Long-term debt$7,085,886 $3,811,745 
Multi-Currency Revolving Credit Facility
    The Company has a $2.4 billion multi-currency senior unsecured revolving credit facility ("Multi-Currency Revolving Credit Facility") with a syndicate of lenders, which is scheduled to expire in October 2029. Interest on borrowings under the Multi-Currency Revolving Credit Facility accrues at specified rates based upon the Company’s debt ratings. The Company pays facility fees to maintain the availability under the Multi-Currency Revolving Credit Facility at specified rates based on its debt rating. The Company may choose to repay or reduce its commitments under the Multi-Currency Revolving Credit Facility at any time. The Multi-Currency Revolving Credit Facility contains covenants, including compliance with a financial leverage ratio test, as well as others that impose limitations on, among other things, indebtedness of subsidiaries and asset sales, with which the Company was compliant as of March 31, 2025.
364-Day Revolving Credit Facility
In November 2024, the Company entered into an agreement pursuant to which it obtained a $1.0 billion senior unsecured revolving credit facility (the "364-Day Revolving Credit Facility") with a syndicate of lenders, which is scheduled to expire 364 days after the January 2, 2025 closing of the RCA acquisition, the date on which borrowings under this facility became available to the Company. Interest on borrowings under the 364-Day Revolving Credit Facility will accrue at a rate equal to either an adjusted SOFR plus an applicable margin or an alternate base rate plus an applicable margin, in each case based on the Company’s public debt ratings. The Company may choose to reduce its commitment under the 364-Day Revolving Credit Facility at any time. The Company also has the right to prepay borrowings under the 364-Day Revolving Credit Facility at any time, in whole or in part and without premium or penalty, provided that the amount of any such prepayment meets certain minimum thresholds.
Commercial Paper Program
    The Company has a $3.4 billion commercial paper program, which does not increase its borrowing capacity, that is fully backed by its Multi-Currency Revolving Credit Facility and the 364-Day Revolving Credit Facility. The Company may, from time to time, issue short-term promissory notes in an aggregate amount of up to $3.4 billion at any one time. Amounts available under the program may be borrowed, repaid, and re-borrowed from time to time. The maturities on the notes will vary but may not exceed 365 days from the date of issuance. The notes will bear interest, if interest bearing, or will be sold at a discount from their face amounts. There were $708.0 million of borrowings outstanding under the commercial paper program as of March 31, 2025 and none outstanding as of September 30, 2024.
Receivables Securitization Facility
The Company has a $1,450 million receivables securitization facility ("Receivables Securitization Facility"), which is scheduled to expire in October 2027. The Company has available to it an accordion feature whereby the commitment on the Receivables Securitization Facility may be increased by up to $250 million, subject to lender approval, for seasonal needs during the December and March quarters. Interest rates are based on prevailing market rates for short-term commercial paper or 30-day Term SOFR, plus a program fee. The Company pays a customary unused fee at prevailing market rates, monthly, to maintain the availability under the Receivables Securitization Facility. The Receivables Securitization Facility contains similar covenants to the Multi-Currency Revolving Credit Facility, with which the Company was compliant as of March 31, 2025. There were no borrowings outstanding under the Receivables Securitization Facility as of March 31, 2025 and September 30, 2024.
Money Market Facility
    The Company has an uncommitted, unsecured line of credit available to it pursuant to a money market credit agreement (the "Money Market Facility"). The Money Market Facility provides the Company with the ability to request short-term, unsecured revolving credit loans from time to time in a principal amount not to exceed $100 million. In February 2025, the Company entered into an amendment to the Money Market Facility pursuant to which it may request short-term unsecured revolving credit loans in a principal amount not to exceed $750 million until June 30, 2025, after which date the facility limit will revert to $100 million. The Money Market Facility may be decreased or terminated by the bank or the Company at any time without prior notice.
Term Loan
In January 2025, the Company borrowed $1.5 billion on a variable-rate term loan ("Term Loan") that matures in December 2027. The Term Loan was used to finance a portion of the acquisition of RCA (see Note 2). The Term Loan bears interest at a rate equal to either an adjusted SOFR plus an applicable margin or an alternate base rate plus an applicable margin. The margins are based on the Company's public debt ratings. The Term Loan contains similar covenants to the Multi-Currency Revolving Credit Facility. The Company has the right to prepay the borrowings under the Term Loan at any time, in whole or in part and without premium or penalty. On May 5, 2025, the Company elected to make an early principal payment of $100 million on the Term Loan.
Senior Notes
In December 2024, the Company issued $500 million of 4.625% senior notes due in December 2027 (the "2027 Notes"), $600 million of 4.850% senior notes due in December 2029 (the "2029 Notes"), and $700 million of 5.150% senior notes due in February 2035 (the "2035 Notes"). The 2027 Notes were sold at 99.815% of the principal amount with an effective yield of 4.634%. The 2029 Notes were sold at 99.968% of the principal amount with an effective yield of 4.852%. The 2035 Notes were sold at 99.945% of the principal amount with an effective yield of 5.153%. Interest on the 2027 Notes and the 2029 Notes is payable semi-annually in arrears on June 15 and December 15 beginning on June 15, 2025. Interest on the 2035 Notes is payable semi-annually in arrears on February 15 and August 15 beginning on February 15, 2025. The Company used the proceeds from the 2027 Notes, the 2029 Notes, and the 2035 Notes to finance a portion of the acquisition of RCA.
The senior notes discussed above and also illustrated in the above debt table are collectively referred to as the "Notes." Interest on the Notes is payable semiannually in arrears. Most of the Notes were sold at small discounts to the principal amounts and, therefore, have effective yields that are greater than the stated interest rates in the table above. Costs incurred in connection with the issuance of the Notes were deferred and are being amortized over the terms of the Notes. The indentures governing the Notes contain restrictions and covenants, which include limitations on additional indebtedness; distributions to stockholders; the repurchase of stock and the making of other restricted payments; issuance of preferred stock; creation of certain liens; transactions with subsidiaries and other affiliates; and certain corporate acts such as mergers, consolidations, and the sale of substantially all assets. An additional covenant requires compliance with a financial leverage ratio test. The Company was compliant with all covenants as of March 31, 2025.
In March 2025, the Company's $500 million of 3.250% senior notes matured and was repaid.
Alliance Healthcare Debt
Alliance Healthcare debt is comprised of uncommitted revolving credit facilities in various currencies with various rates. These facilities are used to fund its working capital needs.
Nonrecourse Debt
Nonrecourse debt is comprised of short-term and long-term debt belonging to the Brazil subsidiaries and is repaid solely from the Brazil subsidiary's cash flows, and such debt agreements provide that the repayment of the loans (and interest thereon) is secured solely by the capital stock, physical assets, contracts, and cash flows of the Brazil subsidiaries.
v3.25.1
Stockholders' Equity and Earnings per Share
 6 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity and Earnings per Share Stockholders’ Equity and Earnings per Share
In March 2024, the Company's Board of Directors authorized a share repurchase program allowing the Company to purchase up to $2.0 billion of its outstanding shares of common stock, subject to market conditions. In the six months ended March 31, 2025, the Company purchased 1.9 million shares of its common stock for a total of $435.4 million. As of March 31, 2025, the Company had $882.2 million of availability under this program.
    Basic earnings per share is computed by dividing net income attributable to Cencora, Inc. by the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed by dividing net income attributable to Cencora, Inc. by the weighted average number of shares of common stock outstanding, plus the dilutive effect of restricted stock units and stock options during the periods presented.
    The following illustrates the components of diluted weighted average shares outstanding for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Weighted average common shares outstanding - basic193,796 199,406 193,780 199,747 
Dilutive effect of restricted stock units and stock options1,298 1,771 1,364 1,763 
Weighted average common shares outstanding - diluted195,094 201,177 195,144 201,510 
The potentially dilutive restricted stock units that were antidilutive for the three months ended March 31, 2025 and 2024 were 2 thousand and 10 thousand, respectively. The potentially dilutive restricted stock units that were antidilutive for the six months ended March 31, 2025 and 2024 were 137 thousand and 165 thousand, respectively.
v3.25.1
Restructuring and Other Expenses
 6 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Expenses Restructuring and Other Expenses
    The following illustrates expenses incurred by the Company relating to Restructuring and Other Expenses for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Restructuring and employee severance costs$25,103 $11,731 $44,658 $23,025 
Business transformation efforts26,046 33,728 51,120 58,450 
Other, net1,708 30,168 2,839 28,593 
    Total restructuring and other expenses$52,857 $75,627 $98,617 $110,068 
Restructuring and employee severance costs in the three and six months ended March 31, 2025 primarily included workforce reductions in both of the Company's reportable segments. Restructuring and employee severance costs in the three and six months ended March 31, 2024 primarily included expenses incurred related to facility closures in connection with the Company's office optimization plan and workforce reductions in both of its reportable segments.
Business transformation efforts in the three and six months ended March 31, 2025 and 2024 included rebranding costs associated with the Company's name change to Cencora and non-recurring expenses related to significant strategic initiatives to improve operational efficiency, including certain technology initiatives. The majority of these costs are related to services provided by third-party consultants.
In February 2024, Company experienced a cybersecurity event where data from its information systems was exfiltrated. In connection with this event, the Company incurred costs that were recorded in Other, net in the above table. The majority of the costs included in Other, net in the three and six months ended March 31, 2024 related to this cybersecurity event.
v3.25.1
Legal Matters and Contingencies
 6 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters and Contingencies Legal Matters and Contingencies
In the ordinary course of its business, the Company becomes involved in lawsuits, administrative proceedings, government subpoenas, government investigations, stockholder demands, and other disputes, including antitrust, commercial, data privacy and security, employment discrimination, intellectual property, product liability, regulatory, and other matters. Significant damages or penalties may be sought from the Company in some matters, and some matters may require years for the Company to resolve. The Company records a reserve for these matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
For those matters for which the Company has not recognized a liability, the Company cannot predict the outcome of their impact on the Company as uncertainty remains, including with regard to whether such matters will proceed to trial, whether settlements will be reached, and the amount and terms of any such settlements. Outcomes may include settlements in significant amounts that are not currently estimable, limitations on the Company's conduct, the imposition of corporate integrity agreement obligations, consent decrees, and/or other civil and criminal penalties. From time to time, the Company is also involved in disputes with its customers, which the Company generally seeks to resolve through commercial negotiations. If negotiations are unsuccessful, the parties may litigate the dispute or otherwise attempt to settle the matter.
With respect to the specific legal proceedings and claims described below, unless otherwise noted, the amount or range of possible losses is not reasonably estimable. There can be no assurance that the settlement, resolution, or other outcome of one or more matters, including the matters set forth below, during any subsequent reporting period will not have a material adverse effect on the Company’s results of operations or cash flows for that period or on the Company's financial condition.
Opioid Lawsuits and Investigations
A significant number of counties, municipalities, and other governmental entities in a majority of U.S. states and Puerto Rico, as well as numerous states and tribes, filed lawsuits in various federal, state and other courts against pharmaceutical wholesale distributors (including the Company and certain subsidiaries, such as AmerisourceBergen Drug Corporation ("ABDC") and H.D. Smith, LLC ("H.D. Smith")), pharmaceutical manufacturers, retail pharmacy chains, medical practices, and physicians relating to the distribution of prescription opioid pain medications.
Starting in December 2017, more than 2,000 cases were transferred to Multidistrict Litigation ("MDL") proceedings before the United States District Court for the Northern District of Ohio (the "MDL Court"). Since then, several cases filed by government and tribal plaintiffs that were selected as bellwether cases in the MDL have been resolved through trial or settlement. Following trial in two consolidated cases in West Virginia federal court, the court entered judgment in favor of the defendants, including the Company. The plaintiffs filed an appeal of the court’s decision on August 2, 2022, which remains pending.
On July 21, 2021, the Company announced that it and the two other national pharmaceutical distributors had negotiated a Distributor Settlement Agreement that, if all conditions were satisfied, would result in the resolution of a substantial majority of opioid lawsuits filed by state and local governmental entities. The Distributor Settlement Agreement became effective on April 2, 2022, and as of March 31, 2025, it included 48 of 49 eligible states (the "Settling States") as well as 99% by population of the eligible political subdivisions in the Settling States. The Distributor Settlement Agreement requires the Company to comply with certain requirements, including the establishment of a clearinghouse that will consolidate data from all three national pharmaceutical distributors. The States of Alabama and West Virginia and their subdivisions and Native American tribes are not a part of the Distributor Settlement Agreement, and the Company has reached separate agreements with those groups. In Maryland, a trial commenced on September 16, 2024 in a case filed by the Mayor and City Council of Baltimore. On November 12, 2024, the jury returned a verdict finding ABDC (and another national distributor) liable for public nuisance and assessing approximately $274 million total in compensatory damages, approximately $74 million of which was assessed against ABDC. A second phase of the trial began on December 11, 2024 related to the City of Baltimore's request for an abatement remedy and proceeded as a bench trial. The Court has not yet issued its ruling from the abatement phase. While the judgment is not yet final, the Company is evaluating next steps, including a possible appeal. The $74 million is a component of the Company's $4.7 billion litigation liability as of March 31, 2025 as described below.

The MDL Court selected four cases filed by third-party payors to serve as additional litigation bellwethers. On May 31, 2024, the MDL Court severed and stayed these four cases against the Company and the two other national pharmaceutical distributors, pursuant to ongoing settlement discussions to resolve litigation filed by a putative class of third-party payors. On August 29, 2024, the Company and two other national pharmaceutical distributors entered into a proposed class action
settlement agreement to resolve the opioid-related claims of a proposed settlement class of third-party payors. Pursuant to the agreement, the Company recorded a $93.0 million litigation expense accrual in its fiscal 2024 Consolidated Statement of Operations. The MDL Court granted a motion for preliminary approval of the proposed class action settlement on September 3, 2024. Following a time period for submission of any objections or requests to be excluded from the settlement, the MDL granted final approval of the settlement during a fairness hearing held on January 13, 2025 and entered a final approval order on January 15, 2025. On February 13, 2025, the sole objector to the settlement filed a notice of appeal of the final approval order. That appeal remains pending before the United States Court of Appeals for the Sixth Circuit.
On September 26, 2024, the Company and two other national pharmaceutical distributors entered into a proposed class action settlement agreement to resolve the opioid-related claims of a proposed settlement class of hospitals. The Company recorded a $120.9 million litigation expense accrual in its fiscal 2024 Consolidated Statement of Operations, representing the Company's expected share of the potential class action settlement. Pursuant to these settlement discussions, a case in Alabama that involved up to eight plaintiff hospitals, and that was scheduled to begin trial on July 8, 2024, was severed and stayed as to the Company. On October 30, 2024, the United States District Court for the District of New Mexico granted a motion for preliminary approval of the proposed class action settlement. Following notice to class members, a time period for submission of any objections to the settlement or requests to be excluded from the settlement, and a fairness hearing on March 4, 2025, the court granted final approval of the settlement and entered a final approval order. The settlement became effective on April 4, 2025.
The Company’s accrued litigation liability related to the Distributor Settlement Agreement, including the State of Alabama and an estimate for non-participating government subdivisions (with whom the Company has not reached a settlement agreement), as well as other opioid-related litigation for which it has reached settlement agreements, as described above, was $4.7 billion as of March 31, 2025 and $4.9 billion as of September 30, 2024. The $4.7 billion liability will be paid over 14 years. The Company currently estimates that $416.5 million will be paid prior to March 31, 2026, which is recorded in Accrued Expenses and Other on the Company’s Consolidated Balance Sheet. The remaining long-term liability of $4.3 billion is recorded in Accrued Litigation Liability on the Company’s Consolidated Balance Sheet. While the Company has accrued its estimated liability for opioid litigation, it is unable to estimate the range of possible loss associated with the matters that are not included in the accrual. Because loss contingencies are inherently unpredictable and unfavorable developments or resolutions can occur, the assessment is highly subjective and requires judgments about future events. The Company regularly reviews opioid litigation matters to determine whether its accrual is adequate. The amount of ultimate loss may differ materially from the amount accrued to date. Until such time as otherwise resolved, the Company will continue to litigate and prepare for trial and to vigorously defend itself in all such matters. Since these matters are still developing, the Company is unable to predict the outcome, but the result of these lawsuits could include excessive monetary verdicts and/or injunctive relief that may affect the Company’s operations. Additional lawsuits regarding the distribution of prescription opioid pain medications have been filed and may continue to be filed by a variety of types of plaintiffs, including lawsuits filed by non-governmental or non-political entities and individuals, among others. The Company is vigorously defending itself in the pending lawsuits and intends to vigorously defend itself against any threatened lawsuits or enforcement proceedings.
Since July 2017, the Company has received subpoenas from several U.S. Attorney’s Offices, including grand jury subpoenas from the U.S. Attorney's Office for the District of New Jersey ("USAO-NJ") and the U.S. Attorney's Office for the Eastern District of New York ("USAO-EDNY"). Those subpoenas requested the production of a broad range of documents pertaining to the Company’s distribution of controlled substances through its various subsidiaries, including ABDC, and its diversion control programs. The Company produced documents in response to the subpoenas and engaged in discussions with the various U.S. Attorney’s Offices, including the Health Care and Government Fraud Unit of the Criminal Division of the USAO-NJ, the U.S. Department of Justice Consumer Protection Branch and the U.S. Drug Enforcement Administration, in an attempt to resolve these matters. On December 29, 2022, the Department of Justice filed a civil complaint (the "Complaint") against the Company, ABDC, and Integrated Commercialization Services, LLC ("ICS"), a subsidiary of the Company, alleging violations of the Controlled Substances Act. Specifically, the Complaint alleges that the Company negligently failed to report suspicious orders to the Drug Enforcement Administration. In the Complaint, the Department of Justice seeks civil penalties and injunctive relief. This Complaint relates to the aforementioned and previously-disclosed investigations. On March 30, 2023, the Company filed a motion to dismiss the Complaint in its entirety on behalf of itself, ABDC, and ICS. On November 6, 2023, the United States District Court for the Eastern District of Pennsylvania granted in part and denied in part the motion, dismissing with prejudice all claims for civil penalties for Defendants’ alleged violations of the suspicious order reporting requirement prior to October 24, 2018, but otherwise denying the motion. On December 18, 2023, the Company, ABDC and ICS filed an Answer and Affirmative Defenses to the Complaint. On January 23, 2024, the Court entered a Scheduling Order setting the fact discovery deadline as January 9, 2026 and the expert discovery deadline as September 18, 2026. The Company denies the allegations in the Complaint and intends to defend itself vigorously in the litigation.
Shareholder Securities Litigation
On December 30, 2021, Lebanon County Employees' Retirement Fund and Teamsters Local 443 Health Services & Insurance Plan filed a complaint for a purported derivative action in the Delaware Court of Chancery against the Company and certain of its current officers and directors. The complaint alleges claims for breach of fiduciary duty allegedly arising from the Board’s and certain officers' oversight of the Company’s controlled substance diversion control programs. The defendants moved to dismiss the complaint on March 29, 2022. On December 22, 2022, the Delaware Court of Chancery granted the motion to dismiss. On January 9, 2023, the Plaintiffs filed a Motion for Relief from Judgment and Order Pursuant to Rule 60(b) from the Delaware Chancery Court’s judgment. On January 20, 2023, the Plaintiffs also appealed the ruling to the Delaware Supreme Court. On March 21, 2023, the Delaware Court of Chancery denied the Plaintiffs' Motion for Relief from Judgement and Order Pursuant to Rule 60(b). On December 18, 2023, the Delaware Supreme Court reversed the dismissal and remanded the case to the Delaware Court of Chancery for further proceedings. On January 12, 2024, the Company's Board of Directors established a Special Litigation Committee ("SLC") and delegated to the SLC the Board's full authority with respect to the litigation. On March 4, 2024, the Delaware Court of Chancery granted the SLC’s consented-to motion to stay the action pending its investigation of the allegations of the complaint, and the litigation remains stayed.
Subpoenas, Ongoing Investigations, and Other Contingencies
From time to time, the Company receives subpoenas or requests for information from various government agencies relating to the Company’s business or to the business of a customer, supplier, or other industry participant. The Company’s responses often require time and effort and can result in considerable costs being incurred. Most of these matters are resolved without incident; however, such subpoenas or requests can lead to the assertion of claims or the commencement of civil or criminal legal proceedings against the Company and other members of the healthcare industry, as well as to substantial settlements.
In January 2017, U.S. Bioservices Corporation, a former subsidiary of the Company, received a subpoena for information from the USAO-EDNY relating to its activities in connection with billing for products and making returns of potential overpayments to government payers. A filed qui tam complaint related to the investigation was unsealed in April 2019 and the relator filed an amended complaint under seal in the U.S. District Court for the Eastern District of New York. In December 2019, the government filed a notice that it was declining to intervene. The court ordered that the relator's complaint against the Company and other defendants, including AmerisourceBergen Specialty Group, LLC, be unsealed. The relator's complaint alleged violations of the federal False Claims Act and the false claims acts of various states. The relator filed a second amended complaint, removing one state false claims act count. The Company filed a motion to dismiss the second amended complaint and all briefs on the motion were filed with the court on October 9, 2020. The motion to dismiss was granted on December 22, 2022. The False Claims Act claims were dismissed with prejudice, and the state claims were dismissed without prejudice. On January 24, 2023, the relator filed Motions to Reconsider Dismissal and For Leave to Amend the Complaint. Response briefs on those motions were filed by the Company and all briefing was completed on February 15, 2023.
In December 2019, Reliable Pharmacy, together with other retail pharmacies and North Sunflower Medical Center, filed a civil antitrust complaint against multiple generic drug manufacturers, and also included claims against ABDC and H.D. Smith, and other drug distributors and industry participants. The case is filed as a putative class action and plaintiffs purport to represent a class of drug purchasers including other retail pharmacies and healthcare providers. The case has been consolidated for multidistrict litigation proceedings before the United States District Court for the Eastern District of Pennsylvania. The complaint alleges that ABDC, H.D. Smith, and others in the industry participated in a conspiracy to fix prices, allocate markets and rig bids regarding generic drugs. In March 2020, the plaintiffs filed a further amended complaint. On July 15, 2020, the defendants filed a motion to dismiss the complaint. On May 25, 2022, the Court granted the motion to dismiss without prejudice. On July 1, 2022, the plaintiffs filed an amended complaint, again including claims against ABDC, H.D. Smith, and other drug distributors and industry participants. On August 21, 2022, the Company and other industry participants filed a motion to dismiss the amended complaint. All briefs on the motion were filed with the court on November 22, 2022. On February 3, 2025, the Court granted the motion to dismiss the amended complaint with prejudice.
On March 3, 2022, the United States Attorney’s Office for the Western District of Virginia notified the Company of the existence of a criminal investigation into MWI Veterinary Supply Co. ("MWI"), the Company’s animal health subsidiary, in connection with grand jury subpoenas to which MWI previously responded relating to compliance with state and federal regulatory requirements governing wholesale shipments of animal health products to customers. In October 2024, the Company reached an agreement in principle to resolve these claims. While negotiations are still ongoing and no agreement has been finalized, pursuant to the agreement in principle the Company recorded a $49.1 million litigation expense accrual in its fiscal 2024 Consolidated Statement of Operations. This liability is included in Accrued Expenses and Other on the Company's Consolidated Balance Sheet as of March 31, 2025.
v3.25.1
Antitrust Settlements
 6 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Antitrust Settlements Antitrust Settlements
Numerous lawsuits have been filed against certain brand pharmaceutical manufacturers alleging that the manufacturer, by itself or in concert with others, took improper actions to delay or prevent generic drugs from entering the market. These lawsuits are generally brought as class actions. The Company has not been named as a plaintiff in these lawsuits but has been a member of the direct purchasers' class (i.e., those purchasers who purchase directly from these pharmaceutical manufacturers). None of the lawsuits has gone to trial, but some have settled in the past with the Company receiving proceeds from the settlement funds. The Company recognized gains related to these lawsuits of $198.6 million and $8.7 million in the three months ended March 31, 2025 and 2024, respectively. The Company recognized gains related to these lawsuits of $221.5 million and $57.0 million in the six months ended March 31, 2025 and 2024, respectively. These gains, which are net of attorney fees and estimated payments due to other parties, were recorded as reductions to cost of goods sold in the Company’s Consolidated Statements of Operations.
v3.25.1
Fair Value of Financial Instruments
 6 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The recorded amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable as of March 31, 2025 and September 30, 2024 approximate fair value based upon the relatively short-term nature of these financial instruments. Within Cash and Cash Equivalents, the Company had no investments in money market accounts as of March 31, 2025 and had $1,190.0 million of investments in money market accounts as of September 30, 2024. The fair value of the money market accounts was determined based upon unadjusted quoted prices in active markets for identical assets, otherwise known as Level 1 inputs.
The recorded amount of long-term debt (see Note 6) and the corresponding fair value as of March 31, 2025 were $7,085.9 million and $6,829.6 million, respectively. The recorded amount of long-term debt and the corresponding fair value as of September 30, 2024 were $3,811.7 million and $3,588.0 million, respectively. The fair value of long-term debt was determined based upon inputs other than quoted prices, otherwise known as Level 2 inputs.
v3.25.1
Business Segment Information
 6 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
    The Company is organized geographically based upon the products and services it provides to its customers and reports its results under two reportable segments: U.S. Healthcare Solutions and International Healthcare Solutions.
The following illustrates reportable and operating segment disaggregated revenue as required by Accounting Standards Codification 606, "Revenue from Contracts with Customer," for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
U.S. Healthcare Solutions:
Human Health$66,920,799 $59,984,359 $139,573,942 $123,882,524 
Animal Health1,363,032 1,308,538 2,743,017 2,594,175 
Total U.S. Healthcare Solutions68,283,831 61,292,897 142,316,959 126,476,699 
International Healthcare Solutions:
Alliance Healthcare5,771,990 5,754,980 11,771,190 11,480,544 
Other Healthcare Solutions1,401,566 1,368,405 2,859,707 2,713,068 
Total International Healthcare Solutions7,173,556 7,123,385 14,630,897 14,193,612 
Intersegment eliminations(3,714)(1,975)(7,123)(3,171)
Revenue$75,453,673 $68,414,307 $156,940,733 $140,667,140 
The following illustrates reportable segment operating income information for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
U.S. Healthcare Solutions$1,033,150 $841,064 $1,800,494 $1,539,188 
International Healthcare Solutions159,301 192,720 341,394 380,315 
Intersegment eliminations(187)— (316)— 
Total segment operating income$1,192,264 $1,033,784 $2,141,572 $1,919,503 
The following reconciles total segment operating income to income before income taxes for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Total segment operating income$1,192,264 $1,033,784 $2,141,572 $1,919,503 
Gains from antitrust litigation settlements198,646 8,714 221,516 56,962 
LIFO (expense) credit(39,469)22,835 (32,145)71,280 
Turkey highly inflationary impact(14,479)(23,053)(21,634)(40,279)
Acquisition-related intangibles amortization(137,011)(164,799)(301,867)(330,523)
Litigation and opioid-related expenses, net(11,524)(225,985)(28,289)(147,068)
Acquisition-related deal and integration expenses(99,380)(22,610)(138,092)(43,673)
Restructuring and other expenses(52,857)(75,627)(98,617)(110,068)
Operating income1,036,190 553,259 1,742,444 1,376,134 
Other loss, net3,546 22,063 61,420 20,976 
Interest expense, net103,988 64,130 131,921 104,694 
Income before income taxes$928,656 $467,066 $1,549,103 $1,250,464 
Segment operating income is evaluated by the Chief Operating Decision Maker of the Company before gains from antitrust litigation settlements; LIFO (expense) credit; Turkey highly inflationary impact; acquisition-related intangibles amortization; litigation and opioid-related expenses, net; acquisition-related deal and integration expenses; and restructuring and other expenses. All corporate office expenses are allocated to the operating segment level.
Litigation and opioid-related expenses, net in the three and six months ended March 31, 2024 includes a $214.0 million litigation accrual for ongoing litigation related to the distribution of prescription opioid medications (see Note 9). The six-month period ended March 31, 2024 also includes a net $92.2 million opioid litigation settlement accrual reduction primarily as a result of the Company's prepayment of the net present value of a future obligation as permitted under its opioid settlement agreements.
The Company recorded a $35.5 million loss on the divestiture of non-core businesses in the six months ended March 31, 2025 in other loss, net.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure        
Net Income (Loss) Attributable to Parent $ 717,871 $ 420,775 $ 1,206,471 $ 1,022,275
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 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
v3.25.1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying financial statements present the consolidated financial position, results of operations, and cash flows of Cencora, Inc. and its subsidiaries, including less-than-wholly-owned subsidiaries in which Cencora, Inc. has a controlling financial interest (the "Company"), as of the dates and for the periods indicated. All significant intercompany accounts and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring accruals, except as otherwise disclosed herein) considered necessary to present fairly the financial position as of March 31, 2025 and the results of operations and cash flows for the interim periods ended March 31, 2025 and 2024 have been included. Certain information and disclosures normally included in financial statements presented in accordance with U.S. GAAP, but which are not required for interim reporting purposes, have been omitted. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ from these estimated amounts. Certain reclassifications have been made to prior-period amounts in order to conform to the current year presentation.
Restricted Cash
Restricted Cash
The Company is required to maintain certain cash deposits with banks mainly consisting of deposits restricted under contractual agency agreements and cash restricted by law and other obligations.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements
As of March 31, 2025, there were no recently-adopted accounting standards that had a material impact on the Company’s financial position, results of operations, cash flows, or notes to the financial statements upon their adoption.
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07")." ASU 2023-07 requires public entities to disclose significant segment expenses on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss that are currently required annually. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance should be applied retrospectively to all periods presented in the financial statements. The Company is evaluating the impact of adopting this new accounting guidance.
In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09")." ASU 2023-09 requires entities to provide additional information in their tax rate reconciliation and additional disclosures about income taxes paid by jurisdiction. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The guidance should be applied prospectively, but entities have the option to apply it retrospectively for each period presented. The Company is evaluating the impact of adopting this new accounting guidance.
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03")." ASU 2024-03 requires disaggregated disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. Expense captions should be disaggregated to include expenses related to purchases of inventory, employee compensation, depreciation, and intangible asset amortization. ASU 2024-03 applies to public entities and is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The guidance should be applied prospectively with the option for retrospective application. The Company is evaluating the impact of adopting this new accounting guidance.
v3.25.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to cash, cash equivalents, and restricted cash in the Consolidated Statements of Cash Flows:
(amounts in thousands)March 31,
2025		September 30,
2024		March 31,
2024		September 30,
2023
(unaudited)(unaudited)
Cash and cash equivalents$1,978,061 $3,132,648 $2,068,858 $2,592,051 
Restricted cash (included in Prepaid Expenses and Other)132,298 98,596 151,446 97,722 
Restricted cash (included in Other Assets)68,207 66,636 64,842 63,116 
Cash, cash equivalents, and restricted cash$2,178,566 $3,297,880 $2,285,146 $2,752,889 
Schedule of Restrictions on Cash and Cash Equivalents
The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to cash, cash equivalents, and restricted cash in the Consolidated Statements of Cash Flows:
(amounts in thousands)March 31,
2025		September 30,
2024		March 31,
2024		September 30,
2023
(unaudited)(unaudited)
Cash and cash equivalents$1,978,061 $3,132,648 $2,068,858 $2,592,051 
Restricted cash (included in Prepaid Expenses and Other)132,298 98,596 151,446 97,722 
Restricted cash (included in Other Assets)68,207 66,636 64,842 63,116 
Cash, cash equivalents, and restricted cash$2,178,566 $3,297,880 $2,285,146 $2,752,889 
v3.25.1
Acquisition (Tables)
 6 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed
The purchase price has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of the acquisition in the table that follows. The allocation as of March 31, 2025 is pending the finalization of the third-party appraisals of intangible assets and corresponding deferred taxes, the finalization of working capital and related account balances, and the lease right-of-use assets and liabilities. There can be no assurance that the estimated amounts recorded will represent the final purchase price allocation.
(in thousands)
Consideration
Cash$4,036,055 
Total estimated contingent consideration1,087,450 
Settlement of a receivable resulting from a pre-existing commercial relationship556,042 
Estimated fair value of total consideration$5,679,547 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$143,312 
Accounts receivable449,897 
Inventories110,564 
Prepaid expenses and other12,866 
Property and equipment173,098 
Goodwill4,799,490 
Other intangible assets178,000 
Deferred income taxes37,911 
Other assets222,283 
Total assets acquired$6,127,421 
Accounts payable$72,385 
Accrued expenses and other162,854 
Accrued income taxes2,859 
Other liabilities209,441 
Total liabilities assumed$447,539 
Net assets acquired$5,679,882 
Total estimated contingent consideration(1,087,450)
Settlement of a receivable resulting from a pre-existing commercial relationship(556,042)
Noncontrolling interest(335)
Total cash paid4,036,055 
Cash acquired(143,312)
Net cash paid$3,892,743 
v3.25.1
Variable Interest Entity (Tables)
 6 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of VIE's Assets and Liabilities
The following assets and liabilities of Profarma are included in the Company's Consolidated Balance Sheets:
(in thousands)March 31,
2025		September 30,
2024
Cash and cash equivalents$14,888 $58,082 
Accounts receivables, net245,532 236,930 
Inventories266,783 259,299 
Prepaid expenses and other57,810 68,612 
Property and equipment, net54,317 49,869 
Other intangible assets55,988 58,116 
Other long-term assets90,115 83,765 
Total assets$785,433 $814,673 
Accounts payable$323,562 $307,201 
Accrued expenses and other53,236 56,597 
Short-term debt55,196 76,308 
Long-term debt77,080 91,246 
Deferred income taxes15,545 19,227 
Other long-term liabilities66,577 61,690 
Total liabilities$591,196 $612,269 
v3.25.1
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in the Carrying Value of Goodwill by Reportable Segment
The following is a summary of the changes in the carrying value of goodwill, by reportable segment, for the six months ended March 31, 2025:
(in thousands)U. S. Healthcare SolutionsInternational Healthcare SolutionsTotal
Goodwill as of September 30, 2024$6,208,522 $3,109,505 $9,318,027 
Goodwill recognized in connection with acquisitions4,799,490 47,763 4,847,253 
Foreign currency translation(1,093)(72,775)(73,868)
Goodwill as of March 31, 2025$11,006,919 $3,084,493 $14,091,412 
Schedule of Indefinite-lived Intangible Assets
The following is a summary of other intangible assets:
 March 31, 2025September 30, 2024
(in thousands)Weighted Average Remaining Useful LifeGross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Indefinite-lived trade names$17,000 $— $17,000 $17,000 $— $17,000 
Finite-lived:
   Customer relationships13 years5,063,277 (1,671,219)3,392,058 5,090,864 (1,536,081)3,554,783 
   Trade names and other9 years1,433,730 (979,953)453,777 1,259,954 (830,691)429,263 
Total other intangible assets$6,514,007 $(2,651,172)$3,862,835 $6,367,818 $(2,366,772)$4,001,046 
Schedule of Finite-lived Intangible Assets
The following is a summary of other intangible assets:
 March 31, 2025September 30, 2024
(in thousands)Weighted Average Remaining Useful LifeGross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Indefinite-lived trade names$17,000 $— $17,000 $17,000 $— $17,000 
Finite-lived:
   Customer relationships13 years5,063,277 (1,671,219)3,392,058 5,090,864 (1,536,081)3,554,783 
   Trade names and other9 years1,433,730 (979,953)453,777 1,259,954 (830,691)429,263 
Total other intangible assets$6,514,007 $(2,651,172)$3,862,835 $6,367,818 $(2,366,772)$4,001,046 
v3.25.1
Debt (Tables)
 6 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Instruments
Debt consisted of the following:
(in thousands)March 31,
2025		September 30,
2024
Multi-currency revolving credit facility due in 2029$708,000 $— 
Receivables securitization facility due in 2027— — 
Term loan due in 20271,498,953 — 
364-day revolving credit facility due in 2025
— — 
Money market facility due in 2027— — 
$500,000, 3.250% senior notes due 2025
— 499,738 
$750,000, 3.450% senior notes due 2027
747,728 747,308 
$500,000, 4.625% senior notes due 2027
496,696 — 
$600,000, 4.850% senior notes due 2029
596,199 — 
$500,000, 2.800% senior notes due 2030
496,870 496,564 
$1,000,000, 2.700% senior notes due 2031
993,278 992,718 
$500,000, 5.125% senior notes due 2034
494,810 494,514 
$700,000, 5.150% senior notes due 2035
694,633 — 
$500,000, 4.250% senior notes due 2045
495,685 495,574 
$500,000, 4.300% senior notes due 2047
493,954 493,821 
Alliance Healthcare debt7,125 286 
Nonrecourse debt132,276 167,553 
Total debt7,856,207 4,388,076 
Less current portion of senior notes— 499,738 
Less borrowings outstanding under multi-currency revolving credit facility708,000 — 
Less Alliance Healthcare current portion7,125 286 
Less nonrecourse current portion55,196 76,307 
Long-term debt$7,085,886 $3,811,745 
v3.25.1
Stockholders' Equity and Earnings per Share (Tables)
 6 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Weighted Average Number of Common Shares Outstanding The following illustrates the components of diluted weighted average shares outstanding for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Weighted average common shares outstanding - basic193,796 199,406 193,780 199,747 
Dilutive effect of restricted stock units and stock options1,298 1,771 1,364 1,763 
Weighted average common shares outstanding - diluted195,094 201,177 195,144 201,510 
v3.25.1
Restructuring and Other Expenses (Tables)
 6 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Other Expenses The following illustrates expenses incurred by the Company relating to Restructuring and Other Expenses for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Restructuring and employee severance costs$25,103 $11,731 $44,658 $23,025 
Business transformation efforts26,046 33,728 51,120 58,450 
Other, net1,708 30,168 2,839 28,593 
    Total restructuring and other expenses$52,857 $75,627 $98,617 $110,068 
v3.25.1
Business Segment Information (Tables)
 6 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule Reportable and Operating Segment Disaggregated Revenue
The following illustrates reportable and operating segment disaggregated revenue as required by Accounting Standards Codification 606, "Revenue from Contracts with Customer," for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
U.S. Healthcare Solutions:
Human Health$66,920,799 $59,984,359 $139,573,942 $123,882,524 
Animal Health1,363,032 1,308,538 2,743,017 2,594,175 
Total U.S. Healthcare Solutions68,283,831 61,292,897 142,316,959 126,476,699 
International Healthcare Solutions:
Alliance Healthcare5,771,990 5,754,980 11,771,190 11,480,544 
Other Healthcare Solutions1,401,566 1,368,405 2,859,707 2,713,068 
Total International Healthcare Solutions7,173,556 7,123,385 14,630,897 14,193,612 
Intersegment eliminations(3,714)(1,975)(7,123)(3,171)
Revenue$75,453,673 $68,414,307 $156,940,733 $140,667,140 
Schedule of Reportable Segment Operating Income
The following illustrates reportable segment operating income information for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
U.S. Healthcare Solutions$1,033,150 $841,064 $1,800,494 $1,539,188 
International Healthcare Solutions159,301 192,720 341,394 380,315 
Intersegment eliminations(187)— (316)— 
Total segment operating income$1,192,264 $1,033,784 $2,141,572 $1,919,503 
Schedule of Reconciliation of Total Segment Operating Income to Income Before Income Taxes
The following reconciles total segment operating income to income before income taxes for the periods indicated:
Three months ended
March 31,		Six months ended
March 31,
(in thousands)2025202420252024
Total segment operating income$1,192,264 $1,033,784 $2,141,572 $1,919,503 
Gains from antitrust litigation settlements198,646 8,714 221,516 56,962 
LIFO (expense) credit(39,469)22,835 (32,145)71,280 
Turkey highly inflationary impact(14,479)(23,053)(21,634)(40,279)
Acquisition-related intangibles amortization(137,011)(164,799)(301,867)(330,523)
Litigation and opioid-related expenses, net(11,524)(225,985)(28,289)(147,068)
Acquisition-related deal and integration expenses(99,380)(22,610)(138,092)(43,673)
Restructuring and other expenses(52,857)(75,627)(98,617)(110,068)
Operating income1,036,190 553,259 1,742,444 1,376,134 
Other loss, net3,546 22,063 61,420 20,976 
Interest expense, net103,988 64,130 131,921 104,694 
Income before income taxes$928,656 $467,066 $1,549,103 $1,250,464 
v3.25.1
Summary of Significant Accounting Policies - Schedule of Restrictions on Cash and Cash Equivalents (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 1,978,061 $ 3,132,648 $ 2,068,858 $ 2,592,051
Cash, cash equivalents, and restricted cash 2,178,566 3,297,880 2,285,146 2,752,889
Restricted cash (included in Prepaid Expenses and Other)        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 132,298 98,596 151,446 97,722
Restricted cash (included in Other Assets)        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash $ 68,207 $ 66,636 $ 64,842 $ 63,116
v3.25.1
Acquisition - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jan. 02, 2025
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Business Acquisition [Line Items]          
Additional liability       $ 37,460 $ 0
Acquisition-related deal and integration expenses   $ 99,380 $ 22,610 138,092 $ 43,673
RCA          
Business Acquisition [Line Items]          
Retained ownership 15.00%        
RCA          
Business Acquisition [Line Items]          
Ownership acquired 85.00%        
Cash $ 4,036,055        
Settlement of a receivable resulting from a pre-existing commercial relationship 556,042        
Potential payment 500,000        
Other intangible assets $ 178,000        
Acquisition-related deal and integration expenses       65,100  
Goodwill expected to be deductible   $ 1,055,000   1,055,000  
RCA revenue       $ 672,400  
RCA | Measurement Input, Expected Term          
Business Acquisition [Line Items]          
Expense period 1 year 6 months        
RCA | Equity units          
Business Acquisition [Line Items]          
Contingent consideration $ 694,400        
RCA | Predefined business objective          
Business Acquisition [Line Items]          
Contingent consideration 393,100        
RCA | Contingent Consideration, Embedded Option Feature          
Business Acquisition [Line Items]          
Contingent consideration 211,000        
Additional liability 37,500        
RCA | Trade Names          
Business Acquisition [Line Items]          
Other intangible assets $ 178,000        
Estimated useful life (in years) 15 years        
v3.25.1
Acquisition - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jan. 02, 2025
Mar. 31, 2025
Mar. 31, 2024
Sep. 30, 2024
Recognized amounts of identifiable assets acquired and liabilities assumed        
Goodwill   $ 14,091,412   $ 9,318,027
Net cash paid   $ 3,947,761 $ 2,310  
RCA        
Business Acquisition [Line Items]        
Cash $ 4,036,055      
Total estimated contingent consideration 1,087,450      
Business Combination, Consideration Transferred, Other 556,042      
Estimated fair value of total consideration 5,679,547      
Recognized amounts of identifiable assets acquired and liabilities assumed        
Cash and cash equivalents 143,312      
Accounts receivable 449,897      
Inventories 110,564      
Prepaid expenses and other 12,866      
Property and equipment 173,098      
Goodwill 4,799,490      
Other intangible assets 178,000      
Deferred income taxes 37,911      
Other assets 222,283      
Total assets acquired 6,127,421      
Accounts payable 72,385      
Accrued expenses and other 162,854      
Accrued income taxes 2,859      
Other liabilities 209,441      
Total liabilities assumed 447,539      
Net assets acquired 5,679,882      
Total estimated contingent consideration (1,087,450)      
Settlement of a receivable resulting from a pre-existing commercial relationship (556,042)      
Noncontrolling interest (335)      
Cash acquired (143,312)      
Net cash paid $ 3,892,743      
v3.25.1
Variable Interest Entity (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Variable Interest Entity [Line Items]        
Cash and cash equivalents $ 2,178,566 $ 3,297,880 $ 2,285,146 $ 2,752,889
Inventories 18,965,502 18,998,833    
Property and equipment, net 2,302,809 2,181,410    
Other long-term assets 4,168,145 3,637,023    
TOTAL ASSETS 71,193,874 67,101,667    
Long-term debt 7,856,207 4,388,076    
Deferred income taxes 1,615,752 1,643,746    
Other long-term liabilities 3,421,715 1,993,683    
Profarma        
Variable Interest Entity [Line Items]        
Cash and cash equivalents 14,888 58,082    
Accounts receivables, net 245,532 236,930    
Inventories 266,783 259,299    
Prepaid expenses and other 57,810 68,612    
Property and equipment, net 54,317 49,869    
Other intangible assets 55,988 58,116    
Other long-term assets 90,115 83,765    
TOTAL ASSETS 785,433 814,673    
Accounts payable 323,562 307,201    
Accrued expenses and other 53,236 56,597    
Short-term debt 55,196 76,308    
Long-term debt 77,080 91,246    
Deferred income taxes 15,545 19,227    
Other long-term liabilities 66,577 61,690    
Total liabilities $ 591,196 $ 612,269    
v3.25.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]        
Unrecognized tax benefits $ 571.0   $ 571.0  
Unrecognized tax benefits, net of federal benefit 519.6   519.6  
Tax benefits that would reduce income tax expense and effective tax rate 509.7   509.7  
Unrecognized tax benefits - interest and penalties 55.7   55.7  
Unrecognized tax benefits increase     26.0  
Reasonably possible reduction of unrecognized tax benefits $ 13.1   $ 13.1  
Effective tax rate 22.70% 9.80% 21.80% 18.10%
v3.25.1
Goodwill and Other Intangible Assets - Schedule of Change in the Carrying Value of Goodwill by Reportable Segment (Details)
$ in Thousands
 6 Months Ended
Mar. 31, 2025
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 9,318,027
Goodwill recognized in connection with acquisitions 4,847,253
Foreign currency translation (73,868)
Goodwill, ending balance 14,091,412
U. S. Healthcare Solutions  
Goodwill [Roll Forward]  
Goodwill, beginning balance 6,208,522
Goodwill recognized in connection with acquisitions 4,799,490
Foreign currency translation (1,093)
Goodwill, ending balance 11,006,919
International Healthcare Solutions  
Goodwill [Roll Forward]  
Goodwill, beginning balance 3,109,505
Goodwill recognized in connection with acquisitions 47,763
Foreign currency translation (72,775)
Goodwill, ending balance $ 3,084,493
v3.25.1
Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Sep. 30, 2024
Finite-lived    
Accumulated Amortization $ (2,651,172) $ (2,366,772)
Intangible Assets    
Gross Carrying Amount 6,514,007 6,367,818
Net Carrying Amount 3,862,835 4,001,046
Trade Names    
Indefinite-lived intangibles    
Indefinite-lived trade names $ 17,000 17,000
   Customer relationships    
Finite-lived    
Estimated useful life 13 years  
Gross Carrying Amount $ 5,063,277 5,090,864
Accumulated Amortization (1,671,219) (1,536,081)
Net Carrying Amount $ 3,392,058 3,554,783
Trade names and other    
Finite-lived    
Estimated useful life 9 years  
Gross Carrying Amount $ 1,433,730 1,259,954
Accumulated Amortization (979,953) (830,691)
Net Carrying Amount $ 453,777 $ 429,263
v3.25.1
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization expense $ 138,003 $ 165,502 $ 303,783 $ 331,927
2025 552,700   552,700  
2026 385,400   385,400  
2027 326,900   326,900  
2028 315,100   315,100  
2029 303,000   303,000  
Thereafter $ 2,266,500   $ 2,266,500  
v3.25.1
Debt - Schedule of Debt Instruments (Details) - USD ($)
 1 Months Ended 6 Months Ended
Nov. 30, 2024
Mar. 31, 2025
Sep. 30, 2024
Debt Instrument [Line Items]      
Long-term debt   $ 7,856,207,000 $ 4,388,076,000
Long-term debt   7,085,886,000 3,811,745,000
Senior Notes      
Debt Instrument [Line Items]      
Less current portion   0 499,738,000
Multi-currency revolving credit facility due in 2029      
Debt Instrument [Line Items]      
Long-term debt   708,000,000 0
Less current portion   708,000,000 0
Receivables securitization facility due in 2027      
Debt Instrument [Line Items]      
Long-term debt   0 0
Term loan due in 2027      
Debt Instrument [Line Items]      
Long-term debt   $ 1,498,953,000 0
364-day revolving credit facility due in 2025      
Debt Instrument [Line Items]      
Debt term 364 days 364 days  
Long-term debt   $ 0 0
Money market facility due in 2027      
Debt Instrument [Line Items]      
Long-term debt   0 0
$500,000, 3.250% senior notes due 2025      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   3.25%  
Long-term debt   $ 0 499,738,000
$750,000, 3.450% senior notes due 2027      
Debt Instrument [Line Items]      
Principal amount   $ 750,000,000  
Interest rate   3.45%  
Long-term debt   $ 747,728,000 747,308,000
$500,000, 4.625% senior notes due 2027      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   4.625%  
Long-term debt   $ 496,696,000 0
$600,000, 4.850% senior notes due 2029      
Debt Instrument [Line Items]      
Principal amount   $ 600,000,000  
Interest rate   4.85%  
Long-term debt   $ 596,199,000 0
$500,000, 2.800% senior notes due 2030      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   2.80%  
Long-term debt   $ 496,870,000 496,564,000
$1,000,000, 2.700% senior notes due 2031      
Debt Instrument [Line Items]      
Principal amount   $ 1,000,000,000  
Interest rate   2.70%  
Long-term debt   $ 993,278,000 992,718,000
$500,000, 5.125% senior notes due 2034      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   5.125%  
Long-term debt   $ 494,810,000 494,514,000
$700,000, 5.150% senior notes due 2035      
Debt Instrument [Line Items]      
Principal amount   $ 700,000,000  
Interest rate   5.15%  
Long-term debt   $ 694,633,000 0
$500,000, 4.250% senior notes due 2045      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   4.25%  
Long-term debt   $ 495,685,000 495,574,000
$500,000, 4.300% senior notes due 2047      
Debt Instrument [Line Items]      
Principal amount   $ 500,000,000  
Interest rate   4.30%  
Long-term debt   $ 493,954,000 493,821,000
Alliance Healthcare debt      
Debt Instrument [Line Items]      
Long-term debt   7,125,000 286,000
Less current portion   7,125,000 286,000
Nonrecourse debt      
Debt Instrument [Line Items]      
Long-term debt   132,276,000 167,553,000
Less current portion   $ 55,196,000 $ 76,307,000
Commercial Paper Program      
Debt Instrument [Line Items]      
Debt term   365 days  
v3.25.1
Debt - Additional information (Details) - USD ($)
 1 Months Ended 6 Months Ended
May 05, 2025
Mar. 31, 2025
Nov. 30, 2024
Mar. 31, 2025
Feb. 28, 2025
Jan. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Multi-currency revolving credit facility due in 2029                
Debt Instrument [Line Items]                
Maximum borrowing capacity   $ 2,400,000,000   $ 2,400,000,000        
364-day revolving credit facility due in 2025                
Debt Instrument [Line Items]                
Maximum borrowing capacity     $ 1,000,000,000          
Debt term     364 days 364 days        
Commercial Paper Program                
Debt Instrument [Line Items]                
Maximum borrowing capacity   3,400,000,000   $ 3,400,000,000        
Debt term       365 days        
Short-term debt   708,000,000.0   $ 708,000,000.0       $ 0
Receivables securitization facility due in 2027                
Debt Instrument [Line Items]                
Maximum borrowing capacity   1,450,000,000   1,450,000,000        
Potential increase in receivables securitization facility   250,000,000   250,000,000        
Borrowings outstanding   0   0       $ 0
Money market facility due in 2027                
Debt Instrument [Line Items]                
Maximum borrowing capacity   100,000,000   100,000,000        
Potential increase in receivables securitization facility         $ 750,000,000      
Term loan due in 2027                
Debt Instrument [Line Items]                
Maximum borrowing capacity           $ 1,500,000,000    
Term loan due in 2027 | Subsequent Event                
Debt Instrument [Line Items]                
Principal repaid $ 100,000,000              
$500,000, 4.625% senior notes due 2027                
Debt Instrument [Line Items]                
Principal amount   $ 500,000,000   $ 500,000,000        
Interest rate   4.625%   4.625%        
$500,000, 4.625% senior notes due 2027 | Senior notes                
Debt Instrument [Line Items]                
Principal amount             $ 500,000,000  
Interest rate             4.625%  
Percentage of principal amount             99.815%  
Effective yield percentage             4.634%  
$600,000, 4.850% senior notes due 2029                
Debt Instrument [Line Items]                
Principal amount   $ 600,000,000   $ 600,000,000        
Interest rate   4.85%   4.85%        
$600,000, 4.850% senior notes due 2029 | Senior notes                
Debt Instrument [Line Items]                
Principal amount             $ 600,000,000  
Interest rate             4.85%  
Percentage of principal amount             99.968%  
Effective yield percentage             4.852%  
$700,000, 5.150% senior notes due 2035                
Debt Instrument [Line Items]                
Principal amount   $ 700,000,000   $ 700,000,000        
Interest rate   5.15%   5.15%        
$700,000, 5.150% senior notes due 2035 | Senior notes                
Debt Instrument [Line Items]                
Principal amount             $ 700,000,000  
Interest rate             5.15%  
$500,000, 5.125% senior notes due 2034                
Debt Instrument [Line Items]                
Principal amount   $ 500,000,000   $ 500,000,000        
Interest rate   5.125%   5.125%        
$500,000, 5.125% senior notes due 2034 | Senior notes                
Debt Instrument [Line Items]                
Percentage of principal amount             99.945%  
Effective yield percentage             5.153%  
$500,000, 3.250% senior notes due 2025                
Debt Instrument [Line Items]                
Principal amount   $ 500,000,000   $ 500,000,000        
Interest rate   3.25%   3.25%        
$500,000, 3.250% senior notes due 2025 | Senior notes                
Debt Instrument [Line Items]                
Principal repaid   $ 500,000,000            
Interest rate   3.25%   3.25%        
v3.25.1
Stockholders' Equity and Earnings per Share - Additional Information (Details) - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Purchases of common stock     $ 435,400,000  
Antidilutive securities excluded from earnings per share computation (in shares) 2 10 137 165
March 2024 Share Repurchase Program        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Authorized amount under share repurchase program   $ 2,000,000,000.0   $ 2,000,000,000.0
Repurchase of common stock (in shares)     1,900  
Availability remaining under program $ 882,200,000   $ 882,200,000  
v3.25.1
Stockholders' Equity and Earnings per Share - Weighted Average Number of Common Shares Outstanding (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Stockholders' Equity Note [Abstract]        
Weighted average common shares outstanding - basic (in shares) 193,796 199,406 193,780 199,747
Dilutive effect of stock options and restricted stock units (in shares) 1,298 1,771 1,364 1,763
Weighted average common shares outstanding - diluted (in shares) 195,094 201,177 195,144 201,510
v3.25.1
Restructuring and Other Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Restructuring and Related Activities [Abstract]        
Restructuring and employee severance costs $ 25,103 $ 11,731 $ 44,658 $ 23,025
Business transformation efforts 26,046 33,728 51,120 58,450
Other, net 1,708 30,168 2,839 28,593
Total restructuring and other expenses $ 52,857 $ 75,627 $ 98,617 $ 110,068
v3.25.1
Legal Matters and Contingencies (Details)
$ in Thousands
 6 Months Ended
Nov. 12, 2024
USD ($)
Sep. 26, 2024
USD ($)
hospital
Aug. 29, 2024
USD ($)
Mar. 31, 2025
USD ($)
claim
state
distributor
Sep. 30, 2024
USD ($)
May 31, 2024
claim
Loss Contingencies [Line Items]            
Accrued litigation liability       $ 4,284,602 $ 4,296,902  
Multidistrict Litigation (MDL) | Pending litigation            
Loss Contingencies [Line Items]            
Number of pending claims | claim       2,000    
MDL and Other Related State Court Litigation | Pending litigation            
Loss Contingencies [Line Items]            
Number of pending claims | claim       4   4
Recorded charge     $ 93,000      
MDL and Other Related State Court Litigation | Settled litigation            
Loss Contingencies [Line Items]            
Number of distributors | distributor       3    
Legal settlement term (in years)       14 years    
MDL and Other Related State Court Litigation | Settled litigation | Three Largest National Distributors            
Loss Contingencies [Line Items]            
Settling states | state       48    
Settlement percent of population       99.00%    
Public Nuisance | Settled litigation            
Loss Contingencies [Line Items]            
Damages awarded $ 74,000          
Public Nuisance | Settled litigation | AmerisourceBergen Drug Corporation And Another National Distributor            
Loss Contingencies [Line Items]            
Damages awarded $ 274,000          
Opioid Lawsuits and Investigations            
Loss Contingencies [Line Items]            
Total liability accrual       $ 4,700,000 4,900,000  
Current estimate recorded in accrued expenses and other       416,500    
Accrued litigation liability       $ 4,300,000    
Litigation and Opioid-Related Expenses (Credit) | Pending litigation            
Loss Contingencies [Line Items]            
Total liability accrual         $ 49,100  
Recorded charge   $ 120,900        
Opioid Lawsuits and Investigations, Alabama Hospitals            
Loss Contingencies [Line Items]            
Number of plaintiff hospitals (up to) | hospital   8        
v3.25.1
Antitrust Settlements (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]        
Gains from antitrust litigation settlements $ 198.6 $ 8.7 $ 221.5 $ 57.0
v3.25.1
Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Sep. 30, 2024
Recorded Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 7,085.9 $ 3,811.7
Level 1 Inputs | Fair Value | Money Market    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 0.0 1,190.0
Level 2 Inputs | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 6,829.6 $ 3,588.0
v3.25.1
Business Segment Information - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2025
USD ($)
segment
Mar. 31, 2024
USD ($)
Segment Reporting Information [Line Items]      
Reportable segments | segment   2  
Settlement accrual reduction $ 214,000    
Loss on divestiture of businesses   $ 35,539 $ 0
Segment Reconciling Items | Distribution of prescription opioid medications      
Segment Reporting Information [Line Items]      
Settlement accrual reduction   $ 92,200 $ 214,000
v3.25.1
Business Segment Information - Schedule Reportable and Operating Segment Disaggregated Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue $ 75,453,673 $ 68,414,307 $ 156,940,733 $ 140,667,140
Operating Segments | U.S. Healthcare Solutions        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 68,283,831 61,292,897 142,316,959 126,476,699
Operating Segments | U.S. Healthcare Solutions | Human Health        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 66,920,799 59,984,359 139,573,942 123,882,524
Operating Segments | U.S. Healthcare Solutions | Animal Health        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 1,363,032 1,308,538 2,743,017 2,594,175
Operating Segments | International Healthcare Solutions        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 7,173,556 7,123,385 14,630,897 14,193,612
Operating Segments | International Healthcare Solutions | Alliance Healthcare        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 5,771,990 5,754,980 11,771,190 11,480,544
Operating Segments | International Healthcare Solutions | Other Healthcare Solutions        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue 1,401,566 1,368,405 2,859,707 2,713,068
Intersegment eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Revenue $ (3,714) $ (1,975) $ (7,123) $ (3,171)
v3.25.1
Business Segment Information - Schedule of Reportable Segment Operating Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]        
Total segment operating income $ 1,036,190 $ 553,259 $ 1,742,444 $ 1,376,134
Operating Segments        
Segment Reporting Information [Line Items]        
Total segment operating income 1,192,264 1,033,784 2,141,572 1,919,503
Operating Segments | U. S. Healthcare Solutions        
Segment Reporting Information [Line Items]        
Total segment operating income 1,033,150 841,064 1,800,494 1,539,188
Operating Segments | International Healthcare Solutions        
Segment Reporting Information [Line Items]        
Total segment operating income 159,301 192,720 341,394 380,315
Intersegment eliminations        
Segment Reporting Information [Line Items]        
Total segment operating income $ (187) $ 0 $ (316) $ 0
v3.25.1
Business Segment Information - Schedule of Reconciliation of Total Segment Operating Income to Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total segment operating income $ 1,036,190 $ 553,259 $ 1,742,444 $ 1,376,134
Gains from antitrust litigation settlements 198,600 8,700 221,500 57,000
LIFO (expense) credit     (32,145) 71,280
Litigation and opioid-related expenses, net (11,524) (225,985) (28,289) (147,068)
Acquisition-related deal and integration expenses (99,380) (22,610) (138,092) (43,673)
Restructuring and other expenses (52,857) (75,627) (98,617) (110,068)
Other loss, net 3,546 22,063 61,420 20,976
Interest expense, net 103,988 64,130 131,921 104,694
Income before income taxes 928,656 467,066 1,549,103 1,250,464
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total segment operating income 1,192,264 1,033,784 2,141,572 1,919,503
Segment Reconciling Items        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Gains from antitrust litigation settlements 198,646 8,714 221,516 56,962
LIFO (expense) credit (39,469) 22,835 (32,145) 71,280
Turkey highly inflationary impact (14,479) (23,053) (21,634) (40,279)
Acquisition-related intangibles amortization (137,011) (164,799) (301,867) (330,523)
Litigation and opioid-related expenses, net (11,524) (225,985) (28,289) (147,068)
Acquisition-related deal and integration expenses (99,380) (22,610) (138,092) (43,673)
Restructuring and other expenses $ (52,857) $ (75,627) $ (98,617) $ (110,068)