CENCORA, INC., 10-K filed on 11/21/2023
Annual Report
v3.23.3
Cover - USD ($)
 12 Months Ended
Sep. 30, 2023
Oct. 31, 2023
Mar. 31, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Sep. 30, 2023    
Current Fiscal Year End Date --09-30    
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    
Trading Symbol COR    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 20,845,049,311
Entity Common Stock, Shares Outstanding   200,712,338  
Documents Incorporated by Reference Portions of the registrant's Proxy Statement for the 2024 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K.    
Entity Central Index Key 0001140859    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY) FY    
Amendment Flag false    
v3.23.3
Audit Information
 12 Months Ended
Sep. 30, 2023
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Philadelphia, Pennsylvania
Auditor Firm ID 42
v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Current assets:    
Cash and cash equivalents $ 2,592,051 $ 3,388,189
Accounts receivable, less allowances for returns and credit losses: 2023 — $1,433,396; 2022 — $1,626,729 20,911,081 18,452,675
Inventories 17,454,768 15,556,394
Right to recover assets 1,314,857 1,532,061
Income tax receivable 77,120 172,568
Prepaid expenses and other 448,949 487,871
Total current assets 42,798,826 39,589,758
Property and equipment, net 2,135,171 2,135,003
Goodwill 9,574,117 8,503,886
Other intangible assets 4,431,783 4,332,737
Deferred income taxes 200,667 237,571
Other assets 3,418,182 1,761,661
TOTAL ASSETS 62,558,746 56,560,616
Current liabilities:    
Accounts payable 45,836,037 40,192,890
Accrued expenses and other 2,353,817 2,214,592
Short-term debt 641,344 1,070,473
Total current liabilities 48,831,198 43,477,955
Long-term debt 4,146,113 4,632,360
Accrued income taxes 310,676 320,274
Deferred income taxes 1,657,944 1,620,413
Accrued litigation liability 5,061,795 5,461,758
Other liabilities 1,884,733 976,583
Commitments and contingencies (Note 13)
Stockholders' equity:    
Common stock, $0.01 par value — authorized, issued, and outstanding: 2023 — 600,000,000 shares, 294,822,962 shares and 200,814,804 shares; 2022 — 600,000,000 shares, 292,700,490 shares and 206,203,817 shares 2,948 2,927
Additional paid-in capital 5,844,578 5,658,733
Retained earnings 4,324,187 2,977,646
Accumulated other comprehensive loss (1,402,607) (1,830,970)
Treasury stock, at cost: 2023 — 94,008,158 shares; 2022 — 86,496,673 shares (8,247,103) (7,019,895)
Total Cencora, Inc. stockholders' equity (deficit) 522,003 (211,559)
Noncontrolling interests 144,284 282,832
Total stockholders' equity 666,287 71,273
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 62,558,746 $ 56,560,616
v3.23.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Statement of Financial Position [Abstract]    
Allowances for returns and credit losses $ 1,433,396 $ 1,626,729
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) 294,822,962 292,700,490
Common stock, outstanding (in shares) 200,814,804 206,203,817
Treasury stock (in shares) 94,008,158 86,496,673
v3.23.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]      
Revenue $ 262,173,411,000 $ 238,587,006,000 $ 213,988,843,000
Cost of goods sold 253,213,918,000 230,290,639,000 207,045,615,000
Gross profit 8,959,493,000 8,296,367,000 6,943,228,000
Operating expenses:      
Distribution, selling, and administrative 5,309,984,000 4,848,962,000 3,594,251,000
Depreciation 410,341,000 386,595,000 326,824,000
Amortization 553,563,000 307,300,000 178,348,000
Litigation and opioid-related (credit) expenses (24,693,000) 123,191,000 272,623,000
Acquisition-related deal and integration expenses 139,683,000 119,561,000 116,969,000
Restructuring and other expenses 229,884,000 63,498,000 82,319,000
Goodwill impairment 0 75,936,000 6,373,000
Impairment of assets 0 4,946,000 11,324,000
Operating income 2,340,731,000 2,366,378,000 2,354,197,000
Other income, net (49,036,000) (27,352,000) (41,736,000)
Interest expense, net 228,931,000 210,673,000 174,074,000
Income before income taxes 2,160,836,000 2,183,057,000 2,221,859,000
Income tax expense 428,260,000 516,517,000 677,251,000
Net income 1,732,576,000 1,666,540,000 1,544,608,000
Net loss (income) attributable to noncontrolling interests 12,717,000 32,280,000 (4,676,000)
Net income attributable to Cencora, Inc. $ 1,745,293,000 $ 1,698,820,000 $ 1,539,932,000
Earnings per share:      
Basic (in usd per share) $ 8.62 $ 8.15 $ 7.48
Diluted (in usd per share) $ 8.53 $ 8.04 $ 7.39
Weighted average common shares outstanding:      
Basic (in shares) 202,511 208,472 205,919
Diluted (in shares) 204,591 211,210 208,465
v3.23.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Statement of Comprehensive Income [Abstract]      
Net income $ 1,732,576 $ 1,666,540 $ 1,544,608
Other comprehensive income (loss):      
Foreign currency translation adjustments 353,439 (1,426,741) (334,522)
Other, net 33,395 4,910 10
Total other comprehensive income (loss) 386,834 (1,421,831) (334,512)
Total comprehensive income 2,119,410 244,709 1,210,096
Comprehensive loss (income) attributable to noncontrolling interests 54,246 68,583 (6,776)
Comprehensive income attributable to Cencora, Inc. $ 2,173,656 $ 313,292 $ 1,203,320
v3.23.3
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Adoption ASC
Common Stock
Additional Paid-in Capital
Retained Earnings
Retained Earnings
Adoption ASC
Accumulated Other Comprehensive Loss
Treasury Stock
Non-controlling Interest
Non-controlling Interest
Adoption ASC
Balance, beginning of period at Sep. 30, 2020 $ (839,636) $ (24,094) $ 2,878 $ 5,081,776 $ 518,335 $ (21,106) $ (108,830) $ (6,513,083) $ 179,288 $ (2,988)
Increase (decrease) in stockholders' equity                    
Net income (loss) 1,544,608       1,539,932       4,676  
Other comprehensive income (loss) (334,512)           (336,612)   2,100  
Cash dividends (366,648)       (366,648)          
Exercises of stock options 198,750   23 198,727            
Share-based compensation expense 99,594     99,594            
Purchases of common stock (82,150)             (82,150)    
Employee tax withholdings related to restricted share vesting (23,547)             (23,547)    
Equity consideration issued for acquisition of Alliance Healthcare (Note 2) 235,141     86,089       149,052    
Acquisition of Alliance Healthcare (Note 2) 178,264               178,264  
Other, net (1,359)   6 (1,082)         (283)  
Balance, end of period at Sep. 30, 2021 584,411   2,907 5,465,104 1,670,513   (445,442) (6,469,728) 361,057  
Increase (decrease) in stockholders' equity                    
Net income (loss) 1,666,540       1,698,820       (32,280)  
Other comprehensive income (loss) (1,421,831)           (1,385,528)   (36,303)  
Cash dividends (391,687)       (391,687)          
Exercises of stock options 93,912   10 93,902            
Share-based compensation expense 93,400     93,400            
Purchases of common stock (512,091)             (512,091)    
Employee tax withholdings related to restricted share vesting (38,076)             (38,076)    
Divestiture of business (3,544)               (3,544)  
Other, net 239   10 6,327         (6,098)  
Balance, end of period at Sep. 30, 2022 71,273   2,927 5,658,733 2,977,646   (1,830,970) (7,019,895) 282,832  
Increase (decrease) in stockholders' equity                    
Net income (loss) 1,732,576       1,745,293       (12,717)  
Other comprehensive income (loss) 386,834           428,363   (41,529)  
Cash dividends (398,752)       (398,752)          
Exercises of stock options 61,152   8 61,144            
Share-based compensation expense 124,624     124,624            
Purchases of common stock (1,155,929)             (1,155,929)    
Employee tax withholdings related to restricted share vesting (71,279)             (71,279)    
Divestiture of business (76,957)               (76,957)  
Other, net (7,255)   13 77         (7,345)  
Balance, end of period at Sep. 30, 2023 $ 666,287   $ 2,948 $ 5,844,578 $ 4,324,187   $ (1,402,607) $ (8,247,103) $ 144,284  
v3.23.3
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]        
Accounting Standards Update [Extensible List]       ASU 2016-13
Cash dividends (in usd per share) $ 1.94 $ 1.84 $ 1.76  
v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES      
Net income $ 1,732,576 $ 1,666,540 $ 1,544,608
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, including amounts charged to cost of goods sold 418,830 390,643 326,713
Amortization, including amounts charged to interest expense 562,018 319,192 188,073
Provision for credit losses 54,389 26,053 12,101
(Benefit) provision for deferred income taxes (118,864) 196,184 334,866
Share-based compensation expense 124,624 93,400 99,594
LIFO expense (credit) 204,595 67,171 (203,028)
Impairment of assets, including goodwill 0 80,882 31,697
Gain on divestiture of businesses (40,665) (56,228) 0
Turkey highly inflationary impact 95,938 51,966 0
Gain on remeasurement of equity investment (242) (4,834) (64,721)
Other, net 3,593 11,781 29,361
Changes in operating assets and liabilities, excluding the effects of acquisitions and divestitures:      
Accounts receivable (2,711,786) (1,659,525) (930,078)
Inventories (2,183,368) (665,370) (1,116,344)
Income tax receivable 102,201 49,307 266,552
Prepaid expenses and other assets 109,041 102,708 141,057
Accounts payable 6,103,451 3,320,725 2,049,167
Accrued expenses 51,112 (457,233) 372,078
Income taxes payable and other liabilities (196,146) (330,079) (178,120)
Long-term accrued litigation liability (399,963) (500,195) (236,990)
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,911,334 2,703,088 2,666,586
INVESTING ACTIVITIES      
Capital expenditures (458,359) (496,318) (438,217)
Cost of acquired companies, net of cash acquired (1,409,835) (133,814) (5,563,040)
Cost of equity investments (743,275) (18,491) (162,620)
Proceeds from divestiture of businesses 0 272,586 0
Other, net 9,004 7,600 22,300
NET CASH USED IN INVESTING ACTIVITIES (2,602,465) (368,437) (6,141,577)
FINANCING ACTIVITIES      
Senior notes and other loan borrowings 157,547 155,189 3,166,980
Senior notes and other loan repayments (811,353) (1,238,954) (835,313)
Borrowings under revolving and securitization credit facilities 78,218,439 4,832,605 4,968,815
Repayments under revolving and securitization credit facilities (78,187,891) (4,671,943) (5,083,930)
Purchases of common stock (1,180,728) (483,704) (82,150)
Exercises of stock options 61,152 93,912 198,750
Cash dividends on common stock (398,752) (391,687) (366,648)
Employee tax withholdings related to restricted share vesting (71,279) (38,076) (23,547)
Other, net (9,413) (10,122) 9,892
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (2,222,278) (1,752,780) 1,952,849
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 72,759 (57,850) (3,725)
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, INCLUDING CASH CLASSIFIED WITHIN ASSETS HELD FOR SALE (840,650) 524,021 (1,525,867)
LESS: INCREASE IN CASH CLASSIFIED WITHIN ASSETS HELD FOR SALE 0 (610) (1,751)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (840,650) 523,411 (1,527,618)
Cash, cash equivalents, and restricted cash at beginning of year 3,593,539 3,070,128 4,597,746
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR $ 2,752,889 $ 3,593,539 $ 3,070,128
v3.23.3
Summary of Significant Accounting Policies
 12 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
On August 30, 2023, AmerisourceBergen Corporation changed its name to Cencora, Inc.
Cencora, Inc. and its subsidiaries, including less-than-wholly-owned subsidiaries in which Cencora, Inc. has a controlling financial interest (the "Company"), is one of the largest global pharmaceutical sourcing and distribution services companies, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. The Company delivers innovative programs and services designed to improve the effectiveness and efficiency of the pharmaceutical supply chain in both human and animal health.
Basis of Presentation
The accompanying financial statements present the consolidated financial position, results of operations, and cash flows of the Company as of the dates and for the periods indicated. All significant intercompany accounts and transactions have been eliminated in consolidation.
The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("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 due to uncertainties inherent in such estimates. Management periodically evaluates estimates used in the preparation of the financial statements for continued reasonableness.
Recently Adopted Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). ASU 2016-13 requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amounts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. ASU 2016-13 was effective for annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years, and a modified retrospective approach was required, with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance was effective.
The Company adopted ASU 2016-13 as of October 1, 2020. In connection with the adoption of ASU 2016-13, the Company recognized a $21.1 million, net of tax of $6.1 million, cumulative adjustment to retained earnings.
For the Company's credit loss policy, refer to the "Concentrations of Credit Risk and Allowance for Credit Losses" section of Note 1.
Recently Issued Accounting Pronouncements Not Yet Adopted
As of September 30, 2023, there were no recently issued accounting standards that may have a material impact on the Company's financial position, results of operations, or cash flows upon their adoption.
Business Combinations
The assets acquired and liabilities assumed from an acquired business are recorded at estimated fair value, with the residual of the purchase price recorded as goodwill. The results of operations of an acquired businesses are included in the Company's operating results from the date of acquisition.
Cash, Cash Equivalents, and Restricted Cash
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The carrying value of cash equivalents approximates fair value.
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, including opioid-related legal settlements.
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:
September 30,
(amounts in thousands)202320222021
Cash and cash equivalents$2,592,051 $3,388,189 $2,547,142 
Restricted cash (included in Prepaid Expenses and Other)97,722 144,980 462,986 
Restricted cash (included in Other Assets)63,116 60,370 60,000 
Cash, cash equivalents, and restricted cash$2,752,889 $3,593,539 $3,070,128 
Concentrations of Credit Risk and Allowance for Credit Losses
    The Company has sales to a large number of customers in the healthcare industry that include institutional and retail healthcare providers. Institutional healthcare providers include acute care hospitals, health systems, mail order pharmacies, long-term care and other alternate care pharmacies and providers of pharmacy services to such facilities, and physician offices. Retail healthcare providers include national and regional retail drugstore chains, independent community pharmacies, pharmacy departments of supermarkets and mass merchandisers, and veterinarians. The financial condition of the Company's customers can be affected by changes in government reimbursement policies as well as by other economic pressures in the healthcare industry.
The Company's trade accounts receivables are exposed to credit risk. Revenue from the various agreements and arrangements with the Company's largest customer in the fiscal year ended September 30, 2023, Walgreens Boots Alliance, Inc. ("WBA"), accounted for approximately 26% of revenue and represented approximately 38% of accounts receivable, net of incentives, as of September 30, 2023. Express Scripts, Inc., the Company's second largest customer in the fiscal year ended September 30, 2023, accounted for approximately 14% of revenue and represented approximately 7% of accounts receivable as of September 30, 2023. The Company generally does not require collateral for trade receivables. The Company evaluates its receivables for risk of loss by grouping its receivables with similar risk characteristics. Expected losses are determined based on a combination of historical loss trends, current economic conditions, and forward-looking risk factors. Changes in these factors, among others, may lead to adjustments in the Company's allowance for credit losses. The calculation of the required allowance requires judgment by Company management as to the impact of those and other factors on the ultimate realization of its trade receivables. The Company performs ongoing credit evaluations of its customers' financial condition and maintains reserves for expected credit losses for specific credit problems when they arise. There were no significant changes to this process during the fiscal years ended September 30, 2023, 2022, and 2021, and bad debt expense was computed in a consistent manner during these periods.
The Company maintains cash, cash equivalents, and restricted cash with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and, therefore, bear minimal credit risk. The Company seeks to mitigate such risks by monitoring the risk profiles of these counterparties. The Company also seeks to mitigate risk by monitoring the investment strategy of money market accounts in which it is invested, which are classified as cash equivalents.
Contingencies
Loss 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, product liability, intellectual property, regulatory, employment discrimination, 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 liability when it is both probable that a loss has been incurred and the amount can be reasonably estimated. The Company also performs an assessment of the materiality of loss contingencies where a loss is either not probable or it is reasonably possible that a loss could be incurred in excess of amounts accrued. If a loss or an additional loss has at least a reasonable possibility of occurring and the impact on the financial statements would be material, the Company provides disclosure of the loss contingency in the notes to its financial statements. The Company reviews all contingencies at least quarterly to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or the range of the loss can be made. Among the loss contingencies that the Company considered in accordance with the foregoing in connection with the preparation of the accompanying financial statements were the opioid matters described in Note 13.
Gain Contingencies: The Company records gain contingencies when they are realized. Gains from antitrust litigation settlements are realized upon the receipt of cash and recorded as a reduction to cost of goods sold because they represent a
recovery of amounts historically paid to manufacturers to originally acquire the pharmaceuticals that were the subject of the antitrust litigation settlements (see Note 14).
Derivative Financial Instruments
The Company utilizes derivative financial instruments to manage exposures to foreign currency. The Company records all derivative financial instruments on the balance sheet at fair value and complies with established criteria for designation and effectiveness of hedging relationships. The Company's policy prohibits it from entering into derivative financial instruments for speculative or trading purposes.
Foreign Currency
When the functional currency of the Company's foreign operations is the applicable local currency, assets and liabilities are translated into U.S. dollars using the current exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates for the period. The resulting asset and liability translation adjustments are recorded as a component of Accumulated Other Comprehensive Loss within Stockholders' Equity.
During the quarter ended March 31, 2022, Turkey became a highly inflationary economy, as defined under U.S. GAAP. As a result, effective April 1, 2022, and until such time as the applicable economy is no longer considered highly inflationary, Turkish Lira-denominated assets and liabilities are remeasured using the Company's reporting currency in accordance with ASC 830, "Foreign Currency Matters." Turkish Lira denominated monetary assets and liabilities (primarily cash, accounts receivables, and accounts payables) are remeasured at each balance sheet date using the currency exchange rate then in effect, with currency remeasurement gains and losses recognized in Other Income in the Statement of Operations. Turkish Lira-denominated nonmonetary assets and liabilities (primarily inventories, goodwill, and other intangible assets) are translated at the currency exchange rate in effect prior to highly inflation accounting commencement or at the exchange rate in effect at their date of acquisition if subsequent to April 1, 2022. As such, nonmonetary assets and liabilities retain a higher historical basis when currencies are devalued. This higher historical basis results in incremental expense being recognized when nonmonetary assets are consumed (i.e., sale of inventory). During the fiscal years ended September 30, 2023 and 2022, the Company recorded incremental expenses of $87.0 million and $40.0 million, respectively, in Cost of Goods Sold related to the consumption of inventory and expenses of $9.0 million and $11.9 million, respectively, within Other Income, Net related to the currency remeasurement of monetary assets and liabilities.
Goodwill and Other Intangible Assets
Goodwill arises from acquisitions or consolidations of specific operating companies and is assigned to the reporting unit in which a particular operating company resides. The Company identifies its reporting units based upon the Company's management reporting structure, beginning with its operating segments. The Company aggregates two or more components within an operating segment that have similar economic characteristics. The Company evaluates whether the components within its operating segments have similar economic characteristics, which include the similarity of long-term gross margins, the nature of the components' products, services, and production processes, the types of customers and the methods by which products or services are delivered to customers, and the components' regulatory environment. As of September 30, 2023, the Company’s reporting units include U.S. Pharmaceutical Distribution Services, U.S. Consulting Services, MWI Animal Health, Alliance Healthcare, Innomar, World Courier, PharmaLex, and Profarma.
Goodwill and other intangible assets with indefinite lives, such as certain trademarks and trade names, are not amortized; rather, they are tested for impairment at least annually. For the purpose of these impairment tests, the Company can elect to perform a qualitative assessment to determine if it is more likely than not that the fair values of its reporting units and indefinite-lived intangible assets are less than the respective carrying values of those reporting units and indefinite-lived intangible assets, respectively. Such qualitative factors can include, among others, industry and market conditions, overall financial performance, and relevant entity-specific events. If the Company concludes based on its qualitative assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying value, it performs a quantitative analysis. The Company elected to perform a quantitative impairment assessment of goodwill for its reporting units in fiscal 2023 and 2022 with the exception of its PharmaLex reporting unit, which was recently acquired. The Company elected to perform a qualitative impairment assessment of indefinite-lived intangible assets in fiscal 2023 and a quantitative impairment assessment of indefinite-lived intangible assets in fiscal 2022. The Company elected to perform a qualitative impairment assessment of goodwill and indefinite-lived intangible assets in fiscal 2021, with the exception of its testing of goodwill in the AmerisourceBergen Consulting Services (the sum of U.S. Consulting Service and Innomar reporting units, under the Company’s prior reporting structure) and Profarma reporting units.
The quantitative goodwill impairment test requires the Company to compare the carrying value of the reporting unit's net assets to the fair value of the reporting unit. If the fair value exceeds the carrying value, no further evaluation is required, and no impairment loss is recognized. If the carrying amount exceeds the fair value, the difference between the carrying value
and the fair value is recorded as an impairment loss, the amount of which may not exceed the total amount of goodwill allocated to the reporting unit.
When performing a quantitative impairment assessment, the Company utilizes an income approach or a weighted-average of an income and market approach to value its reporting units. The income approach relies on a discounted cash flow analysis, which considers forecasted cash flows discounted at an appropriate discount rate, to determine the fair value of each reporting unit. The Company generally believes that market participants would use a discounted cash flow analysis to determine the fair value of the Company's reporting units in a sale transaction. The annual goodwill impairment test requires the Company to make a number of assumptions and estimates concerning future levels of revenue growth, operating margins, depreciation, amortization, capital expenditures, and working capital requirements, which are based upon the Company's long-range plan. The discount rate is an estimate of the overall after-tax rate of return required by a market participant whose weighted average cost of capital includes both debt and equity, including a risk premium. While the Company uses the best available information to prepare its forecasted cash flows and discount rate assumptions, actual future cash flows and/or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances. While there are always changes in assumptions to reflect changing business and market conditions, the Company's overall methodology and the population of assumptions used have remained unchanged.
The quantitative impairment test for indefinite-lived intangibles other than goodwill (certain trademarks and trade names) consists of a comparison of the fair value of the indefinite-lived intangible asset to the carrying value of the asset as of the impairment testing date. The Company estimates the fair value of its indefinite-lived intangibles using the relief from royalty method, which is a widely used valuation technique for such assets. The fair value derived from the relief from royalty method is measured as the discounted cash flow savings realized from owning such indefinite-lived trademarks and trade names and not having to pay a royalty for their use.
The Company completed its required annual impairment tests relating to goodwill and indefinite-lived intangible assets in the fiscal years ended September 30, 2023, 2022, and 2021. The Company recorded goodwill impairments of $75.9 million and $6.4 million in its Profarma reporting unit in connection with its fiscal 2022 and 2021 impairment tests (see Note 5), respectively. No goodwill impairments were recorded in the fiscal year ended September 30, 2023, and no indefinite-lived intangible asset impairments were recorded in the fiscal years ended September 30, 2023, 2022, or 2021.
Finite-lived intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. The Company performs a recoverability assessment of its long-lived assets when impairment indicators are present.
Income Taxes
The Company accounts for income taxes using a method that requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between tax bases and financial reporting bases of the Company's assets and liabilities (commonly known as the asset and liability method). In assessing the need to establish a valuation allowance on deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, including settlements with tax authorities or resolutions of any related appeals or litigation processes, based upon the technical merits of the position. Tax benefits associated with uncertain tax positions that have met the recognition criteria are measured and recorded based upon the highest probable outcome that is more than 50% likely to be realized after full disclosure and resolution of a tax examination.
Inventories
Inventories are stated at the lower of cost or market. Cost for approximately 66% of the Company's inventories as of September 30, 2023 and 2022 has been determined using the last-in, first-out ("LIFO") method. If the Company had used the first-in, first-out method of inventory valuation, which approximates current replacement cost, inventories would have been approximately $1,588.0 million and $1,383.4 million higher than the amounts reported as of September 30, 2023 and 2022, respectively. The Company recorded LIFO expense of $204.6 million and $67.2 million in the fiscal years ended September 30, 2023 and 2022, respectively, and a LIFO credit of $203.0 million in the fiscal year ended September 30, 2021. The annual LIFO provision is affected by manufacturer pricing practices, which may be impacted by market and other external influences, changes in inventory quantities, and product mix, many of which are difficult to predict. Changes to any of the above factors can have a material impact to the Company's annual LIFO provision.
Investments
The Company first evaluates its investments in accordance with the variable interest model to determine whether it has a controlling financial interest in an investment. This evaluation is made as of the date on which the Company makes its initial investment, and subsequent evaluations are made if the structure of the investment changes. If it has determined that an investment is a variable interest entity ("VIE"), the Company evaluates whether the VIE is required to be consolidated. When the Company holds rights that give it the power to direct the activities of an entity that most significantly impact the entity's economic performance, combined with the obligation to absorb an entity's losses and the right to receive benefits, the Company consolidates a VIE. If it is determined that an investment is not a VIE, the Company then evaluates its investments under the voting interest model and generally consolidates investments in which it holds an ownership interest of greater than 50%. When the Company consolidates less-than-wholly-owned subsidiaries, it records its noncontrolling interest in its consolidated financial statements.
    For equity securities without a readily determinable fair value, the Company uses the fair value measurement alternative and measures the securities at cost less impairment, if any, including adjustments for observable price changes in orderly transactions for an identical or similar investment of the same issuer. For investments in which the Company can exercise significant influence but does not control, it uses the equity method of accounting. The Company's share of earnings and losses of its investments is recorded in Other Income in the Consolidated Statements of Operations. The Company monitors its investments for impairment by considering factors such as the operating performance of the investment and current economic and market conditions.
Leases
At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the facts and circumstances present. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. At the lease commencement date, operating and finance lease liabilities and their corresponding right-of-use ("ROU") assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable and, as such, the Company uses its incremental borrowing rate to discount the lease liabilities, which is the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment. Certain adjustments to the ROU asset may be required for items such as incentives received. The Company does not recognize on the balance sheet leases with terms of one year or less.
    The Company has operating leases that are primarily comprised of buildings, office equipment, distribution center equipment, and vehicles. Some of the Company's leases include options to extend or early terminate the lease, which are included in the lease term when it is reasonably certain to exercise and there is a significant economic incentive to exercise that option. Certain lease agreements contain provisions for future rent increases. Lease payments included in the measurement of the lease liability comprise fixed payments. The Company combines lease and non-lease components as a single component. Operating lease cost is recognized over the expected lease term on a straight-line basis and is recorded in Distribution, Selling, and Administrative in the Company's Consolidated Statements of Operations. Variable lease payments, which are primarily comprised of maintenance, taxes, and other payments based on usage, are recognized when the expense is incurred. The Company's leases do not contain residual value guarantees.
Manufacturer Incentives
The Company considers fees and other incentives received from its suppliers relating to the purchase and distribution of inventory to represent product discounts, and, as a result, they are recognized within cost of goods sold upon the sale of the related inventory.
Property and Equipment
Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, which range from 3 to 40 years for buildings and improvements and from 3 to 10 years for machinery, equipment, and other. The costs of repairs and maintenance are charged to expense as incurred.
The Company capitalizes project costs relating to computer software developed or obtained for internal use when the activities related to the project reach the application development stage. Costs that are associated with preliminary stage activities, training, maintenance, and all other post-implementation stage activities are expensed as they are incurred. Software development costs are depreciated using the straight-line method over the estimated useful lives, which range from 3 to 10 years.
The following table summarizes the Company's property and equipment balances for the periods indicated:
September 30,
(in thousands)20232022
Property and equipment, at cost:
Land$116,465 $122,426 
Buildings and improvements836,175 840,852 
Machinery, equipment, and other3,786,449 3,424,070 
Total property and equipment4,739,089 4,387,348 
Less accumulated depreciation(2,603,918)(2,252,345)
Property and equipment, net$2,135,171 $2,135,003 
Revenue Recognition
The Company's revenues are primarily generated from the distribution of pharmaceutical products. The Company also generates revenues from global commercialization services, which include clinical trial support, post-approval and commercialization support, and global specialty transportation and logistics for the biopharmaceutical industry. See Note 15 for the Company's disaggregated revenue.
The Company recognizes revenue related to the distribution of products at a point in time when title and control transfers to customers and there is no further obligation to provide services related to such products. Service revenue is recognized over the period that services are provided to the customer. The Company is generally the principal in a transaction; therefore, revenue is primarily recorded on a gross basis. When the Company is the principal in a transaction, it has determined that it controls the ability to direct the use of the product or service prior to the transfer to a customer, it is primarily responsible for fulfilling the promise to provide the product or service to its customer, it has discretion in establishing pricing, and it controls the relationship with the customer. Revenue is recognized at the amount of consideration expected to be received. For the distribution business, revenue is primarily generated from a contract related to a confirmed purchase order with a customer in a distribution arrangement and is net of estimated sales returns and allowances, other customer incentives, and sales tax.
When the Company is the agent in a transaction, the fee received from a manufacturer customer is recognized within revenue as the service is performed.
The Company's customer sales return policy generally allows customers to return products only if the products can be resold at full value or returned to suppliers for full credit. The Company records an accrual for estimated customer sales returns at the time of sale to the customer based upon historical return trends. As of September 30, 2023 and 2022, the Company's accrual for estimated customer sales returns was $1,314.9 million and $1,532.1 million, respectively.
Share-Based Compensation
    The Company accounts for the compensation cost of all share-based payments at fair value. The fair value of restricted stock units and performance stock units is based upon the grant date market price of the Company’s common stock.
    Share-based compensation expense is recognized over the requisite service period within Distribution, Selling, and Administrative in the Consolidated Statements of Operations to correspond with the same line item as the cash compensation paid to employees. Compensation expense associated with nonvested performance stock units is dependent upon the Company's periodic assessment of the probability of the targets being achieved and its estimate of the number of shares that will ultimately be issued.
    The income tax effects of awards are recognized when the awards vest or are settled and are recognized in Income Tax Expense in the Company’s Consolidated Statements of Operations.
Shipping and Handling Costs
Shipping and handling costs include all costs to warehouse, pick, pack, and deliver inventory to customers. These costs, which were $1,200.0 million, $1,040.8 million, and $809.3 million for the fiscal years ended September 30, 2023, 2022, and 2021, respectively, are included in Distribution, Selling, and Administrative in the Company's Consolidated Statements of Operations.
Supplier Reserves
The Company establishes reserves against amounts due from its suppliers relating to various price and rebate incentives, including deductions or billings taken against payments otherwise due to them from the Company. These reserve estimates are established based upon the judgment of Company management after carefully considering the status of current outstanding claims, historical experience with the suppliers, the specific incentive programs, and any other pertinent information available to the Company. The Company evaluates the amounts due from its suppliers on a continual basis and adjusts the reserve estimates when appropriate based upon changes in factual circumstances. The ultimate outcome of any outstanding claim may be different than the Company's estimate.
v3.23.3
Acquisitions and Equity Method Investment
 12 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions and Equity Method Investment Acquisitions and Equity Method Investment
PharmaLex Acquisition
The Company acquired and assumed control of PharmaLex Holding GmbH ("PharmaLex") effective January 1, 2023 for $1.473 billion, subject to customary adjustments, including a $29.3 million cash holdback. PharmaLex is a leading provider of specialized services for the life sciences industry. PharmaLex's services include regulatory affairs, development consulting and scientific affairs, pharmacovigilance, and quality management and compliance. PharmaLex is headquartered in Germany and operates in over 30 countries. The acquisition advances the Company's role as a partner of choice for biopharmaceutical partners across the pharmaceutical development and commercialization journey. PharmaLex is a component of the Company's International Healthcare Solutions reportable segment.
The purchase price has been preliminarily allocated to the underlying assets acquired, including $37.4 million of cash and cash equivalents, and liabilities assumed based upon their estimated fair values as of the date of the acquisition. The preliminary allocation is pending the finalization of the working capital account balances and goodwill.
The purchase price exceeded the current estimated fair value of the net tangible and intangible assets acquired by $1,023.1 million, which was allocated to goodwill. Goodwill resulting from this acquisition is not deductible for income tax purposes.
The estimated fair value of the intangible assets acquired of $558.9 million, and the estimated useful lives are as follows:
(in thousands, except useful lives)Fair ValueUseful Lives
Customer relationships$522,634 12
Trade names30,931 5
Software technology5,333 6
Total$558,898 
The Company established an estimated deferred tax liability of $146.0 million primarily in connection with the intangible assets acquired.
Investment in OneOncology
In June 2023, the Company and TPG, a global alternative asset management firm, acquired OneOncology, LLC ("OneOncology"), a network of leading oncology practices. Including all direct transaction costs, the Company invested $718.4 million (representing 34.9%) in a joint venture formed to acquire OneOncology for approximately $2.1 billion, and TPG acquired the majority interest in the joint venture. The Company accounts for its interest in the joint venture as an equity method investment, which is included in Other Assets on its Consolidated Balance Sheet.
Beginning on the third anniversary of the closing of the joint venture's acquisition of OneOncology and ending on the day before the fourth anniversary of that closing, TPG will have a put option under which TPG may require the Company to purchase all of the other interests in the joint venture, including TPG's interest, at a price equal to 19 times OneOncology's adjusted earnings before interest, taxes, depreciation and amortization for the most recently ended 12-month period prior to TPG’s exercise of the put option, all of which is subject to various other adjustments and qualifications. In addition, on the date that is the third anniversary of the closing and again beginning on the fourth anniversary of the closing and ending on the day before the fifth anniversary of the closing, the Company will have a call option to purchase all of the other interests in the joint venture, including TPG's, also at the price set forth above. The fair value of the net put option, which is a Level 3 measurement, was determined using a Monte Carlo simulation, which relies on assumptions, including cash flow projections, risk-free rates, volatility, and details specific to the put and call options. In September 2023, the Company adjusted the preliminary estimated net fair value of the net put option from $807.2 million to $872.9 million, which is recorded within Other Liabilities with a
corresponding offset in Other Assets in the Company's Consolidated Balance Sheet as of September 30, 2023. Given the Company has elected to not mark the net put option to market, the fair value of the net put option will remain on the balance sheet until its final resolution.
Upon the joint venture's acquisition of OneOncology, it was determined that there was a $625.2 million difference between the carrying value of the Company's investment in OneOncology and its underlying equity in net assets, which has been allocated to intangible assets of $305.6 million, a related deferred tax liability of $20.5 million, and goodwill of $340.0 million. The intangible assets and related deferred tax liability are being amortized over a weighted-average life of 23 years.
Alliance Healthcare Acquisition
On June 1, 2021, the Company acquired a majority of Walgreens Boots Alliance, Inc.'s ("WBA") Alliance Healthcare businesses ("Alliance Healthcare") for $6,662.0 million in cash, $229.1 million of the Company's common stock (2 million shares at the Company's June 1, 2021 opening stock price of $114.54 per share), and $6.1 million of other equity consideration. The net cash payment was $5,596.7 million, as the Company acquired $922.0 million of cash and cash equivalents and $143.3 million of restricted cash. The shares issued were from the Company's treasury stock on a first-in, first-out basis and were originally purchased for $149.1 million. In the fiscal year ended September 30, 2022, the Company's previous estimate of $96.9 million of accrued consideration was settled for $60.0 million, which resulted in a $36.9 million reduction to Goodwill. The $60.0 million cash payment is included in the total $6,662.0 million cash consideration. The Company funded the cash purchase price through a combination of cash on hand and new debt financing. The acquisition expands the Company's reach and solutions in pharmaceutical distribution and adds to the Company's depth and breadth of global manufacturer services.
The Company completed the purchase price allocation as of June 1, 2022 and recorded purchase accounting adjustments that reduced working capital account balances by $102.7 million, increased the corresponding deferred tax assets by $63.0 million, and decreased other assets by $13.3 million, which resulted in a $53.0 million increase to Goodwill. There were no measurement period adjustments recorded to the previously-reported opening balance sheet that would have had a material impact on the Company's previously-reported results of operations had those adjustments been recorded in the previous reporting periods. The final purchase price has been 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:
(in thousands)
Consideration
Cash$6,662,020 
Equity (2 million shares of Cencora, Inc. common stock)
229,080 
Other equity consideration6,061 
Fair value of total consideration$6,897,161 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$921,995 
Accounts receivable3,628,056 
Inventories1,647,330 
Prepaid expenses and other355,030 
Property and equipment634,220 
Goodwill2,496,338 
Other intangible assets3,735,000 
Deferred income taxes33,922 
Other assets534,393 
Total assets acquired13,986,284 
Accounts payable(4,618,807)
Accrued expenses and other(765,463)
Short-term debt(353,420)
Deferred income taxes(760,937)
Other liabilities(405,332)
Total liabilities assumed(6,903,959)
Net assets acquired7,082,325 
Noncontrolling interest(185,164)
Equity consideration(235,141)
Cash acquired, including restricted cash of $143,308 included in Prepaid Expenses and Other
(1,065,303)
Net cash paid$5,596,717 
The estimated fair value of the intangible assets acquired of $3.7 billion and the estimated useful lives are as follows:
(in thousands, except useful lives)Fair ValueWeighted-Average Useful Life
Customer relationships$3,327,000 18
Trade names408,000 11
Total$3,735,000 
Goodwill resulting from this acquisition is not deductible for income tax purposes.
The fair value of the $185.2 million noncontrolling interest in Alliance Healthcare Egypt, a 50%-owned subsidiary, was estimated by applying income and market-based approaches. This fair value measurement is based on inputs that are not observable in the market and; therefore, represents a fair value measurement categorized within Level 3 of the fair value hierarchy.
The Company incurred $90.9 million of acquisition-related costs in connection with this acquisition. These costs are included in Acquisition-Related Deal and Integration Expenses in the Company's Statements of Operations for the fiscal year ended September 30, 2021.
See Part I. Other Information-Item 1A. Risk Factors of this Annual Report on Form 10-K for additional risk factors related to our strategic transactions with WBA.
v3.23.3
Variable Interest Entity
 12 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entity Variable Interest Entity
The Company has substantial governance rights 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 Sheet for the periods indicated:
September 30,
(in thousands)20232022
Cash and cash equivalents$33,256 $23,144 
Accounts receivables, net253,419 192,930 
Inventories255,801 207,858 
Prepaid expenses and other63,327 63,982 
Property and equipment, net42,759 35,554 
Other intangible assets62,384 66,568 
Other long-term assets77,889 71,327 
Total assets$788,835 $661,363 
Accounts payable$300,875 $215,515 
Accrued expenses and other56,280 47,952 
Short-term debt73,650 60,851 
Long-term debt74,132 64,918 
Deferred income taxes22,701 25,801 
Other long-term liabilities54,691 52,417 
Total liabilities$582,329 $467,454 
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.
v3.23.3
Income Taxes
 12 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income Before Income Taxes
The following table summarizes the Company's income before income taxes for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Domestic$1,418,457 $1,351,696 $1,495,899 
Foreign742,379 831,361 725,960 
Total$2,160,836 $2,183,057 $2,221,859 
Income Tax Expense
The components of the Company's consolidated income tax expense are summarized in the following table for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Current provision:   
Federal$259,126 $126,969 $184,375 
State and local42,933 39,282 30,659 
Foreign245,065 154,082 127,351 
Total current provision547,124 320,333 342,385 
Deferred (benefit) provision:   
Federal(15,600)150,328 111,428 
State and local19,445 31,129 47,516 
Foreign(122,709)14,727 175,922 
Total deferred (benefit) provision(118,864)196,184 334,866 
Provision for income taxes$428,260 $516,517 $677,251 
Tax Rate Reconciliation
A reconciliation of the statutory U.S. federal income tax rate to the Company's consolidated effective income tax rate is as follows for the periods indicated:
 Fiscal Year Ended September 30,
 202320222021
Statutory U.S. federal income tax rate21.0%21.0%21.0%
State and local income tax rate, net of federal tax benefit2.32.52.8
Tax effect of foreign operations(2.4)(1.9)(0.5)
Tax law changes 1
(0.5)—7.3
Other, net(0.6)2.1(0.1)
Effective income tax rate19.8%23.7%30.5%
1 Tax law changes include 5.7% related to UK Tax Reform and 1.6% related to Swiss Tax Reform in fiscal 2021.
United Kingdom Tax Reform
The United Kingdom ("UK") government delivered a Spring Budget in March 2021 that set out a plan to provide continuing support for jobs and businesses as the UK recovers from the COVID-19 pandemic. The UK government Finance Act 2021 includes a provision to increase the corporate tax rate from 19% to 25% beginning on April 1, 2023. As a result, the Company recognized a deferred tax expense of $127.6 million to increase its deferred tax liabilities for the change in the tax rate in the fiscal year ended September 30, 2021.
Swiss Tax Reform
In August 2020, the Canton of Bern enacted tax reforms to comply with requirements imposed by earlier Swiss federal tax reforms, which were retroactively effective as of January 1, 2020. A key provision of the Swiss federal tax reforms was the elimination of cantonal preferential tax regimes, which had the effect of increasing overall tax rates on Swiss income. To phase in the tax rate increase, the canton of Bern granted a tax ruling to the Company that effectively reduces the Company's Swiss tax rate for a period of 10 years.
As a result of the aforementioned Swiss tax law change and ruling, the Company recorded a deferred tax asset in the fiscal year ended September 30, 2020 that is expected to be realized over the following 10 years. As of September 30, 2023, the deferred tax asset of $425.9 million was reduced by a $235.9 million valuation allowance for the amount that more likely than not will not be realized.
In November 2020, the Canton of Bern approved its Budget 2021, which called for lowering its corporate income tax rate applicable to the Company’s Swiss operations effective October 1, 2020. As a result, the Company recognized a deferred tax expense to reduce its Swiss deferred tax asset for the change in tax rate.
Deferred Tax Liabilities and Assets
Deferred income taxes reflect the future tax consequences of differences between the tax bases of assets and liabilities and their financial reporting amounts. Significant components of the Company's deferred tax liabilities (assets) are as follows:
 September 30,
(in thousands)20232022
Inventories$1,475,467 $1,471,064 
Property and equipment145,308 149,896 
Goodwill and other intangible assets1,242,466 1,184,477 
Right-of-use assets255,221 219,616 
Other51,490 61,148 
Gross deferred tax liabilities3,169,952 3,086,201 
Net operating loss and tax credit carryforwards(532,851)(426,651)
Allowance for credit losses(18,221)(67,788)
Accrued expenses(18,108)(24,435)
Accrued litigation liability(909,256)(981,627)
Employee and retiree benefits(22,927)(22,682)
Goodwill and other intangible assets(425,898)(446,605)
Lease liabilities(280,550)(241,469)
Share-based compensation(23,087)(33,933)
Other(119,180)(75,428)
Gross deferred tax assets(2,350,078)(2,320,618)
Valuation allowance for deferred tax assets637,403 617,259 
Deferred tax assets, net of valuation allowance(1,712,675)(1,703,359)
Net deferred tax liabilities$1,457,277 $1,382,842 
As of September 30, 2023, the Company had $114.1 million of potential tax benefits from state net operating loss carryforwards and $322.0 million of potential tax benefits from foreign net operating loss carryforwards, which have varying expiration dates. The Company had $6.4 million of state tax credit carryforwards and $3.1 million in foreign alternative minimum tax credit carryforwards.
The Company assesses the available positive and negative evidence to determine whether deferred tax assets are more likely than not to be realized. As a result of this assessment, valuation allowances have been recorded on certain deferred tax assets. For the fiscal year ended September 30, 2023 and 2022, the Company increased the valuation allowance on deferred tax assets by $20.1 million and $78.7 million, respectively. The increases in the valuation allowance in the fiscal years ended September 30, 2023 and 2022 were primarily due to the increase in the valuation allowance against foreign net operating loss carryforwards.
In the fiscal years ended September 30, 2023, 2022, and 2021 tax benefits of $24.6 million, $13.4 million and $8.2 million, respectively, related to the exercise of employee stock options and lapses of restricted stock units were recorded in Income Tax Expense in the Company's Consolidated Statements of Operations. The tax benefits recognized in the fiscal years ended September 30, 2023, 2022, and 2021 are not necessarily indicative of amounts that may arise in future periods.
Income tax payments, net of refunds, were $463.1 million, $244.4 million, and $93.5 million in the fiscal years ended September 30, 2023, 2022, and 2021, respectively.
Cumulative undistributed earnings of international subsidiaries were $3.9 billion as of September 30, 2023, $2.1 billion of which is considered permanently reinvested. It is not practicable to estimate the taxes that would be due if such earnings were to be repatriated in the future.
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is currently undergoing certain state and local income tax audits for various years. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or foreign income tax examinations by tax authorities for years before 2020. The Company believes it has adequate tax reserves to cover potential federal, state or foreign tax exposures.
Unrecognized Tax Benefits
As of September 30, 2023 and 2022, 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 $551.9 million and $553.2 million, respectively ($482.7 million and $479.6 million, net of federal tax benefit, respectively). If recognized in the fiscal years ended September 30, 2023 and 2022, $464.4 million and $461.4 million, respectively, of these benefits would have reduced income tax expense and the effective tax rate. As of September 30, 2023 and 2022, included in the unrecognized tax benefits are $25.9 million and $26.7 million of interest and penalties, respectively, which the Company records in Income Tax Expense in the Company's Consolidated Statements of Operations.
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, for the periods indicated is as follows:
Fiscal Year Ended September 30,
(in thousands)202320222021
Unrecognized tax benefits at beginning of period$526,522 $500,399 $478,351 
Additions of tax positions of the current year22,646 21,074 20,515 
Additions to tax positions of the prior years11,875 5,073 17,022 
Reductions of tax positions of the prior years(31,110)— — 
Settlements and expiration of statutes of limitations(3,457)(24)(15,489)
Effects of foreign currency translation(543)— — 
Unrecognized tax benefits at end of period$525,933 $526,522 $500,399 
During the next 12 months, it is reasonably possible that tax audit resolutions and the expiration of statutes of limitations could result in a reduction of unrecognized tax benefits by approximately $9.0 million.
A significant portion of the Company's unrecognized tax benefits as of September 30, 2023 relates to the legal accrual for litigation related to the global opioid settlement, as well as other opioid-related litigation, as disclosed in Note 13. The Company has applied significant judgment in estimating the amount of the opioid settlements that will be deductible for U.S. federal and state purposes. In estimating the amount that would be deductible, the Company considered prior U.S. tax case law, the amount and character of the damages sought in litigation, and other relevant factors.
v3.23.3
Goodwill and Other Intangible Assets
 12 Months Ended
Sep. 30, 2023
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 fiscal years ended September 30, 2023 and 2022:
(in thousands)U.S. Healthcare SolutionsInternational Healthcare SolutionsTotal
Goodwill as of September 30, 2021$6,260,374 $2,770,157 $9,030,531 
Purchase accounting adjustments— 27,186 27,186 
Goodwill recognized in connection with acquisition26,143 — 26,143 
Goodwill derecognized in connection with divestiture(1,224)— (1,224)
Goodwill impairment— (75,936)(75,936)
Foreign currency translation(5,053)(497,761)(502,814)
Goodwill as of September 30, 20226,280,240 2,223,646 8,503,886 
Goodwill recognized in connection with acquisitions— 1,026,440 1,026,440 
Goodwill derecognized in connection with divestiture— (14,424)(14,424)
Foreign currency translation2,177 56,038 58,215 
Goodwill as of September 30, 2023$6,282,417 $3,291,700 $9,574,117 
As a result of a prolonged decline in Profarma’s stock price, the Company performed an impairment assessment over the Profarma reporting unit as of June 30, 2022 and recorded a goodwill impairment of $75.9 million in the fiscal year ended September 30, 2022. The Company determined the fair value of the Profarma reporting unit based upon Profarma’s publicly-traded stock price, plus an estimated control premium. This represents a level 2 nonrecurring fair value measurement.
The following is a summary of other intangible assets:
 September 30, 2023September 30, 2022
(dollars 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 $667,932 $— $667,932 
Finite-lived:
Customer relationships14 years4,845,091 (1,213,200)3,631,891 4,226,547 (931,961)3,294,586 
Trade names and other4 years1,224,795 (441,903)782,892 542,346 (172,127)370,219 
Total other intangible assets$6,086,886 $(1,655,103)$4,431,783 $5,436,825 $(1,104,088)$4,332,737 
As described in Note 1, the Company changed its name to Cencora, Inc. on August 30, 2023. In connection with the name change and gradual and planned transition away from other tradenames used, the Company reclassified $651.0 million of trade names from indefinite-lived to finite-lived. The shortened useful lives of these trade names, all of which were acquired through prior acquisitions made by the Company, range from less than one year to three years. The future amortization expense amounts below reflect the impact of the intangible assets' revised useful lives.
Amortization expense for finite-lived intangible assets was $553.6 million, $307.3 million, and $178.3 million in the fiscal years ended September 30, 2023, 2022, and 2021, respectively. Amortization expense for finite-lived intangible assets is estimated to be $669.1 million in fiscal 2024, $502.6 million in fiscal 2025, $348.7 million in fiscal 2026, $291.5 million in fiscal 2027, $281.4 million in 2028, and $2,321.3 million thereafter.
v3.23.3
Debt
 12 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Debt Debt
Debt consisted of the following:
 September 30,
(in thousands)20232022
Multi-currency revolving credit facility due 2028$— $— 
Receivables securitization facility due 2025350,000 350,000 
Revolving credit note— — 
Overdraft facility due 2024 (£10,000)
— — 
Money market facility— — 
0.737% senior notes due 2023
— 672,736 
$500,000, 3.400% senior notes due 2024
499,677 499,195 
$500,000, 3.250% senior notes due 2025
499,026 498,347 
$750,000, 3.450% senior notes due 2027
746,464 745,622 
$500,000, 2.800% senior notes due 2030
495,959 495,348 
$1,000,000, 2.700% senior notes due 2031
991,600 990,480 
$500,000, 4.250% senior notes due 2045
495,378 495,162 
$500,000, 4.300% senior notes due 2047
493,554 493,288 
Alliance Healthcare debt68,017 336,886 
Nonrecourse debt147,782 125,769 
Total debt4,787,457 5,702,833 
Less Cencora, Inc. current portion499,677 672,736 
Less Alliance Healthcare current portion68,017 336,886 
Less nonrecourse current portion73,650 60,851 
Total, net of current portion$4,146,113 $4,632,360 
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 was scheduled to expire in October 2027. In October 2023, the Company amended the Multi-Currency Revolving Credit Facility to extend the expiration to October 2028. Interest on borrowings under the Multi-Currency Revolving Credit Facility accrues at specified rates based upon the Company's debt rating and ranges from 80.5 basis points to 122.5 basis points over SOFR/EURIBOR/CDOR/RFR, as applicable (102.5 basis points over CDOR/LIBOR/EURIBOR/Bankers Acceptance Stamping Fee as of September 30, 2023) and from 0 basis points to 22.5 basis points over the alternate base rate and Canadian prime rate, as applicable. The Company pays facility fees to maintain the availability under the Multi-Currency Revolving Credit Facility at specified rates based on its debt rating, ranging from 7 basis points to 15 basis points, annually, of the total commitment (10 basis points as of September 30, 2023). 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 September 30, 2023.
Commercial Paper Program
The Company has a commercial paper program whereby it may from time to time issue short-term promissory notes in an aggregate amount of up to $2.4 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. The commercial paper program does not increase the Company's borrowing capacity as it is fully backed by the Company's Multi-Currency Revolving Credit Facility. There were no borrowings outstanding under the commercial paper program as of September 30, 2023 and 2022.
Receivables Securitization Facility
The Company has a $1,450 million receivables securitization facility ("Receivables Securitization Facility"), which is scheduled to expire in October 2025. 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, annually, to maintain the availability under the Receivables Securitization Facility.
In connection with the Receivables Securitization Facility, AmerisourceBergen Drug Corporation and a specialty distribution subsidiary sell on a revolving basis certain accounts receivable to Amerisource Receivables Financial Corporation, a wholly-owned special purpose entity, which in turn sells a percentage ownership interest in the receivables to financial institutions and commercial paper conduits sponsored by financial institutions. AmerisourceBergen Drug Corporation is the servicer of the accounts receivable under the Receivables Securitization Facility. As sold receivables are collected, additional receivables may be sold up to the maximum amount available under the facility. The facility is a financing vehicle utilized by the Company because it generally offers an attractive interest rate relative to other financing sources. The Company securitizes its trade accounts, which are generally non-interest bearing, in transactions that are accounted for as borrowings. The Receivables Securitization Facility contains similar covenants to the Multi-Currency Revolving Credit Facility, with which the Company was compliant as of September 30, 2023.
Revolving Credit Note, Overdraft Facility, and Money Market Facility
The Company has an uncommitted, unsecured line of credit available to it pursuant to a revolving credit note ("Revolving Credit Note"). The Revolving Credit Note 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 $75 million. The Revolving Credit Note may be decreased or terminated by the bank or the Company at any time without prior notice. The Company also has a £10 million uncommitted U.K. overdraft facility ("Overdraft Facility") to fund short-term normal trading cycle fluctuations related to its MWI Animal Health business, which expires in February 2024. The Company has an uncommitted, unsecured line of credit available to it pursuant to a money market credit agreement ("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. The Money Market Facility may be decreased or terminated by the bank or the Company at any time without prior notice.
Term Loans
In February 2021, the Company entered into a $1.0 billion variable-rate term loan (“February 2021 Term Loan”), which was available to be drawn on the closing date of the acquisition of Alliance Healthcare. In April 2021, the Company reduced its commitment under the February 2021 Term Loan to $500 million. In June 2021, the Company borrowed $500 million under the February 2021 Term Loan to finance a portion of the June 2021 Alliance Healthcare acquisition. The Company elected to make principal payments of $250 million in September 2021 and again in March 2022 to repay the loan that was scheduled to mature in 2023.
Senior Notes
In March 2021, the Company issued $1,525 million of 0.737% senior notes due March 15, 2023 (the "2023 Notes"). The 2023 Notes were sold at 100.00% of the principal amount. Interest on the 2023 Notes was payable semi-annually in arrears and commenced on September 15, 2021. In March 2021, the Company issued $1,000 million of 2.700% senior notes due March 15, 2031 (the "2031 Notes"). The 2031 Notes were sold at 99.79% of the principal amount and have an effective yield of 2.706%. Interest on the 2031 Notes is payable semi-annually in arrears and commenced on September 15, 2021. The 2023 Notes and 2031 Notes rank pari passu to the Company's other senior notes, the Multi-Currency Revolving Credit Facility, the Revolving Credit Note, the Overdraft Facility, and the Money Market Facility. The Company used the proceeds from the 2023 Notes and the 2031 Notes to finance a portion of the June 2021 Alliance Healthcare acquisition.
In the fiscal year ended September 30, 2022, the Company elected to repay $850 million of 2023 Notes due in March 2023. In March 2023, the remaining balance of $675 million on the original $1.5 billion of 0.737% senior notes matured and was repaid.
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 September 30, 2023.
Alliance Healthcare Debt
Alliance Healthcare debt is comprised of uncommitted revolving credit facilities in various currencies with various rates. A vast majority of the outstanding borrowings as of September 30, 2023 were held in Turkey. 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 subsidiaries' 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.
Other Information
Scheduled future principal payments of debt are $642.3 million in fiscal 2024, $535.9 million in fiscal 2025, $374.6 million in fiscal 2026, $12.1 million in fiscal 2027, $753.3 million in fiscal 2028, and $2,500.0 million thereafter.
Interest paid on the above indebtedness during the fiscal years ended September 30, 2023, 2022, and 2021 was $271.3 million, $219.8 million, and $170.9 million, respectively.
Total amortization of financing fees and the accretion of original issue discounts, which are recorded as components of Interest Expense, Net on the Consolidated Statements of Operations, were $8.5 million, $11.9 million, and $9.7 million, for the fiscal years ended September 30, 2023, 2022, and 2021, respectively.
v3.23.3
Stockholders' Equity and Weighted Average Common Shares Outstanding
 12 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders' Equity and Weighted Average Common Shares Outstanding Stockholders' Equity and Weighted Average Common Shares Outstanding
The authorized capital stock of the Company consists of 600,000,000 shares of common stock, par value $0.01 per share (the "common stock"), and 10,000,000 shares of preferred stock, par value $0.01 per share (the "preferred stock").
The holders of the Company's common stock are entitled to one vote per share and have the exclusive right to vote for the Board of Directors and for all other purposes as provided by law. Subject to the rights of holders of the Company's preferred stock, holders of common stock are entitled to receive ratably on a per share basis such dividends and other distributions in cash, stock, or property of the Company as may be declared by the Board of Directors from time to time out of the legally available assets or funds of the Company.
The following illustrates the components of Accumulated Other Comprehensive Loss, net of income taxes:
 September 30,
(in thousands)20232022
Pension and postretirement adjustments$406 $(9,038)
Foreign currency translation(1,402,245)(1,820,292)
Other(768)(1,640)
Total accumulated other comprehensive loss$(1,402,607)$(1,830,970)
The decrease in total accumulated other comprehensive loss from foreign currency translation primarily relates to the translation of the Company's Alliance Healthcare business' goodwill and intangible assets balances.
In October 2018, the Company's Board of Directors authorized a share repurchase program allowing the Company to purchase up to $1.0 billion of its outstanding shares of common stock, subject to market conditions. During the fiscal year ended September 30, 2021, the Company purchased 0.6 million shares of its common stock for a total of $55.5 million to complete its authorization under this program.
In May 2020, the Company's Board of Directors authorized a share repurchase program allowing the Company to purchase up to $500 million of its outstanding shares of common stock, subject to market conditions. During the fiscal year ended September 30, 2021, the Company purchased 0.3 million shares of its common stock for $26.6 million. During the fiscal year ended September 30, 2022, the Company purchased 3.3 million shares of its common stock for $473.4 million to complete its authorization under this program.
In May 2022, the Company's Board of Directors authorized a share repurchase program allowing the Company to purchase up to $1.0 billion of its outstanding shares of common stock, subject to market conditions. During the fiscal year ended September 30, 2022, the Company purchased 0.3 million shares of its common stock for a total of $38.7 million, which included $28.4 million of September 2022 purchases that cash settled in October 2022. During the fiscal year ended September 30, 2023, the Company purchased 6.0 million shares of its common stock for a total of $961.3 million, including 5.5 million shares from WBA for $882.5 million, to complete its authorization under this program.
In March 2023, the Company's Board of Directors authorized a new share repurchase program allowing the Company to purchase up to $1.0 billion of its outstanding shares of common stock, subject to market conditions. During the fiscal year ended September 30, 2023, the Company purchased 1.0 million shares of its common stock for a total of $191.0 million, including 0.9 million shares from WBA for $167.5 million. As of September 30, 2023, the Company had $809.0 million of availability under this program. From October 1, 2023 through November 20, 2023, the Company purchased 1.7 million shares of its common stock for a total of $325.3 million, including 1.3 million shares from WBA for $250.0 million.
Common Shares Outstanding
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 stock options and restricted stock units during the periods presented.
The following illustrates the components of diluted weighted average shares outstanding:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Weighted average common shares outstanding - basic202,511 208,472 205,919 
Effect of dilutive securities - stock options and restricted stock units
2,080 2,738 2,546 
Weighted average common shares outstanding - diluted204,591 211,210 208,465 
The potentially dilutive stock options and restricted stock units that were antidilutive were 94 thousand, 101 thousand, and 97 thousand for the fiscal years ended September 30, 2023, 2022 and 2021, respectively.
v3.23.3
Related Party Transactions
 12 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Related Party TransactionsWBA owns more than 10% of the Company's outstanding common stock and is, therefore, considered a related party. The Company operates under various agreements and arrangements with WBA, including a pharmaceutical distribution agreement pursuant to which the Company distributes pharmaceutical products to WBA and an agreement that provides the Company the ability to access favorable economic pricing and generic products through a generic purchasing services arrangement with Walgreens Boots Alliance Development GmbH (both through 2029) as well as a distribution agreement pursuant to which it will supply branded and generic pharmaceutical products to WBA’s Boots UK Ltd. subsidiary (through 2031). Revenue from the various agreements and arrangements with WBA was $68.7 billion, $64.1 billion, and $65.5 billion in the fiscal years ended September 30, 2023, 2022, and 2021, respectively. The Company's receivable from WBA, net of incentives, was $8.1 billion and $7.0 billion as of September 30, 2023 and 2022, respectively
v3.23.3
Retirement and Other Benefit Plans
 12 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Retirement and Other Benefit Plans Retirement and Other Benefit Plans
The Company sponsors various retirement benefit plans and a deferred compensation plan covering eligible employees.
The Compensation and Succession Planning Committee ("Compensation Committee") of the Company's Board of Directors has delegated the administration of the Company's retirement and other benefit plans to its Benefits Committee, an internal committee, comprised of senior finance, human resources, and legal executives. The Benefits Committee is responsible for the investment options under the Company's savings plans, as well as performance of the investment advisers and plan administrators.
Retirement Benefit Plans
The Company sponsors the AmerisourceBergen Employee Investment Plan (the "Plan"), which is a defined contribution 401(k) plan covering salaried and certain hourly employees. Eligible participants may contribute to the plan from 1% to 50% of their regular compensation before taxes. The Company contributes $1.00 for each $1.00 invested by the participant up to the first 3% of the participant's salary and $0.50 for each additional $1.00 invested by the participant of up to an additional 2% of salary. An additional discretionary contribution, in an amount not to exceed the limits established by the Internal Revenue Code ("IRC"), may also be made depending upon the Company's performance. Based on the Company's performance in fiscal 2023, 2022, and 2021, the Company recognized expenses for discretionary contributions to the Plan in the fiscal years ended September 30, 2023, 2022, and 2021. All contributions are invested at the direction of the employee in one or more funds. All contributions vest immediately except for the discretionary contributions made by the Company, which vest in full after five years of credited service.
The Company's international businesses sponsor various country-specific retirement plans.
Costs of above retirement benefit plans charged to expense for the fiscal years ended September 30, 2023, 2022, and 2021 were $89.4 million, $90.1 million, and $62.3 million, respectively.
The Company also sponsors the AmerisourceBergen Corporation Benefit Restoration Plan. This unfunded plan provides benefits to selected key management, including each of the Company's executive officers. This plan provides eligible participants with an annual amount equal to 4% of the participant's total cash compensation to the extent that his or her compensation exceeds the annual compensation limit established by Section 401(a) (17) of the IRC.
Deferred Compensation Plan
The Company sponsors the AmerisourceBergen Corporation 2001 Deferred Compensation Plan. This unfunded plan allows eligible officers, directors, and key management employees to defer a portion of their annual compensation. The amount deferred may be allocated by the employee among a selection of mutual funds. The Company's liability relating to its deferred compensation plan as of September 30, 2023 and 2022 was $39.3 million and $31.7 million, respectively.
v3.23.3
Share-Based Compensation
 12 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The Company's stockholders approved the AmerisourceBergen Corporation 2022 Omnibus Incentive Plan (the "2022 Plan"). As of September 30, 2023, there were 22.8 million shares available to be granted for employee and non-employee director stock restricted stock units, performance stock units, and stock options under the 2022 Plan.
Stock Options
The Company's employee stock option plans provide for the granting of incentive and nonqualified stock options to acquire shares of common stock to employees at a price not less than the fair market value of the common stock on the dates options are granted. Option terms and vesting periods are determined at the date of grant by the Compensation Committee of the Board of Directors. Employee stock options generally vest ratably, in equal amounts, over a four-year service period and expire in seven years. The Company's non-employee director stock option plans provide for the granting of nonqualified stock options to acquire shares of common stock to non-employee directors at the fair market value of the common stock on the date of the grant. Non-employee director options vest ratably, in equal amounts, over a three-year service period and expire in ten years.
The estimated fair value of options granted is expensed on a straight-line basis over the requisite service periods of the awards and are net of estimated forfeitures. The Company estimates the fair values of option grants using a binomial option pricing model. Expected volatilities are based upon the historical volatility of the Company's common stock and other factors, such as implied market volatility. The Company uses historical exercise data, taking into consideration the optionees' ages at grant date, to estimate the terms for which the options are expected to be outstanding. The risk-free rates during the terms of such options are based upon the U.S. Treasury yield curve in effect at the time of grant.
The Company has not granted any stock options to employees since fiscal 2020, and it does not expect to grant any stock options in fiscal 2024.
During the fiscal years ended September 30, 2022 and 2021, the Company recognized stock option expense of $2.2 million and $4.6 million, respectively.
A summary of the Company's stock option activity and related information for its option plans for the fiscal year ended September 30, 2023 is presented below:
(in thousands, except exercise price and contractual term)OptionsWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding as of September 30, 20221,932 $833 years$100,496 
Exercised(895)$81  
Outstanding as of September 30, 20231,037 $852 years$98,147 
Exercisable as of September 30, 2023941 $852 years$89,160 
Expected to vest after September 30, 202395 $863 years$8,954 
The intrinsic value of stock options exercised during the fiscal years ended September 30, 2023, 2022, and 2021 was $80.2 million, $60.3 million, and $58.7 million, respectively.
A summary of the status of the Company's nonvested options as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 is presented below:
(in thousands, except grant date fair value)OptionsWeighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 2022412 $18
Vested(316)$18
Nonvested as of September 30, 202396 $17
During the fiscal years ended September 30, 2023, 2022, and 2021, the total fair values of options vested were $5.7 million, $10.0 million, and $15.5 million, respectively.
Restricted Stock Units
Restricted stock units granted prior to fiscal 2021 vested in full after three years. The majority of the restricted stock units granted beginning in fiscal 2021 and thereafter vest ratably over a three-year period. The estimated fair value of restricted stock units under the Company's restricted stock unit plans is determined by the product of the number of shares granted and the closing grant date market price of the Company's common stock. The estimated fair value of restricted stock units is expensed on a straight-line basis over the requisite service period, net of estimated forfeitures. During the fiscal years ended September 30, 2023, 2022, and 2021, the Company recognized restricted stock unit expense of $84.3 million, $71.3 million, and $55.8 million, respectively.
A summary of the status of the Company's nonvested restricted stock units as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 are presented below:
(in thousands, except grant date fair value)Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 20221,806 $108
Granted684 $158
Vested(1,032)$100
Forfeited(163)$132
Nonvested as of September 30, 20231,295 $139
During the fiscal years ended September 30, 2023, 2022, and 2021, the total fair values of restricted stock units vested were $103.0 million, $58.1 million, and $31.1 million, respectively. Expected future compensation expense relating to the 1.3 million restricted stock units outstanding as of September 30, 2023 is $71.8 million, which will be recognized over a weighted average period of 1.4 years.
Performance Stock Units
Performance stock units are granted to certain executive employees under the Plan and represent common stock potentially issuable in the future. Performance stock units vest at the end of a three-year performance period based upon achievement of specific performance goals. Based upon the extent to which the targets are achieved, vested shares may range from 0% to 200% of the target award amount. The fair value of performance stock units is determined by the grant date market price of the Company's common stock. Compensation expense associated with nonvested performance stock units is recognized over the requisite service period and is dependent on the Company's periodic assessment of the probability of the targets being achieved and its estimate of the number of shares that will ultimately be issued. During the fiscal years ended September 30, 2023, 2022, and 2021, the Company recognized performance stock expense of $40.4 million, $19.7 million, and $38.9 million, respectively.
A summary of the status of the Company's nonvested performance stock units as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 is presented below (based upon target award amounts).
(in thousands, except grant date fair value)Performance
Stock
Units		Weighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 2022277 $117
Granted126 $158
Vested(144)$110
Forfeited(8)$129
Nonvested as of September 30, 2023251 $142
Shares that vested over the three-year performance period ended September 30, 2023 were distributed to employees in November 2023.
v3.23.3
Leases
 12 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases Leases
The Company has long-term leases for facilities and equipment. In the normal course of business, leases are generally renewed or replaced by other leases. Certain leases include escalation clauses.
The following illustrates the components of lease cost for the periods presented:
Fiscal Year Ended September 30,
(in thousands)202320222021
Operating lease cost$234,567 $220,935 $161,054 
Short-term lease cost9,799 11,257 5,901 
Variable lease cost25,598 25,108 14,208 
Total lease cost$269,964 $257,300 $181,163 
The following summarizes balance sheet information related to operating leases:
September 30,
(in thousands, except for lease term and discount rate)20232022
Right of use assets
Other assets$1,019,368 $944,974 
Lease liabilities
Accrued expenses and other$182,462 $158,184 
Other long-term liabilities924,247 864,288 
Total lease liabilities$1,106,709 $1,022,472 
Weighted-average remaining lease term7.85 years8.37 years
Weighted-average discount rate4.66%3.22%
Other cash flow information related to operating leases is as follows:
Fiscal Year Ended September 30,
(in thousands)202320222021
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cash payments$229,203 $214,793 $148,385 
Right-of-use assets obtained in exchange for lease liabilities
New operating leases$271,096 $179,214 $770,858 
Future minimum rental payments under noncancellable operating leases were as follows:
Payments Due by Fiscal Year (in thousands)As of
September 30, 2023
2024$218,139 
2025197,174 
2026176,328 
2027150,738 
2028129,808 
Thereafter441,242 
Total future undiscounted lease payments1,313,429 
Less: Future payments for leases that have not yet commenced 1
(2,839)
Less: Imputed interest(203,881)
Total lease liabilities$1,106,709 
1 The Company has certain leases that it has executed of which it does not control the underlying assets; therefore, liabilities and ROU assets related to these leases were not recorded on the Company's Consolidated Balance Sheet as of September 30, 2023.
v3.23.3
Restructuring and Other Expenses
 12 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Other Expenses Restructuring and Other Expenses
The following illustrates the expenses incurred by the Company relating to Restructuring and Other Expenses for the periods indicated:
Fiscal Year Ended September 30,
 (in thousands)202320222021
Restructuring and employee severance costs$105,220 $35,316 $46,064 
Business transformation efforts82,117 27,990 36,255 
Other expenses42,547 192 — 
Total$229,884 $63,498 $82,319 
Restructuring and employee severance costs in the fiscal year ended September 30, 2023 primarily included expenses incurred in connection with workforce reductions in both of the Company's reportable segments. Restructuring and employee severance costs in the fiscal year ended September 30, 2022 included costs primarily related to the write down of assets related to the Company's office optimization plan and restructuring activities within certain businesses in the U.S. Healthcare Solutions reportable segment. Restructuring and employee severance costs in the fiscal year ended September 30, 2021 included costs primarily related to the disposal of assets related to the Company's office optimization plan and restructuring activities primarily within one business unit in the International Healthcare Solutions reportable segment.
Business transformation efforts in the fiscal year ended September 30, 2023 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 related to services provided by third-party consultants. Business transformation efforts in the fiscal year ended September 30, 2022 and 2021 primarily related to costs associated with reorganizing the Company to further align the organization to its customers' needs, including certain technology initiatives. The majority of these costs related to services provided by third-party consultants.
In March 2023, one of the Company’s foreign business units experienced a cybersecurity event that impacted a standalone legacy information technology platform in one country and the foreign business unit's ability to operate in that country for approximately two weeks. In connection with this isolated event, the Company incurred costs to restore the foreign business unit's operations in that country, which were recorded in Other expenses in the above table. The majority of Other expenses in the fiscal year ended September 30, 2023 related to the cybersecurity event.
v3.23.3
Legal Matters and Contingencies
 12 Months Ended
Sep. 30, 2023
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, product liability, intellectual property, regulatory, employment discrimination, 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 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), 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 "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. The MDL Court is in the process of selecting four cases filed by third-party payors to serve as additional litigation bellwethers.
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 September 30, 2023, 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. Pursuant to the Distributor Settlement Agreement and related agreements with Settling States, the Company will pay up to approximately $6.4 billion over 18 years and comply with other requirements, including establishment of a clearinghouse that will consolidate data from all three national distributors. The exact payment amount will depend on several factors, including the extent to which states take action to foreclose opioid lawsuits by subdivisions (e.g., laws barring opioid lawsuits by subdivisions). West Virginia and its subdivisions and Native American tribes are not a part of the Distributor Settlement Agreement, and the Company has reached separate agreements with those groups. The State of Alabama is not participating in the Distributor Settlement Agreement and has an active case pending against the Company (and another distributor) in Alabama state court, which is scheduled to begin trial on February 26, 2024.
The Company’s accrued litigation liability related to the Distributor Settlement Agreement, including an estimate for the State of Alabama and 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 $5.5 billion as of September 30, 2023 and $6.0 billion as of September 30, 2022. The Company currently estimates that
$407.5 million will be paid prior to September 30, 2024, which is recorded in Accrued Expenses and Other on the Company’s Consolidated Balance Sheet. The remaining long-term liability of $5.1 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 are ongoing in cases filed by a variety of types of plaintiffs. In Alabama, a jury trial was scheduled to begin on July 24, 2023 in a case that involves up to eight plaintiff hospitals. That case was stayed by order of the Alabama Supreme Court on July 10, 2023, pending further order of that court, so there currently is no trial date. In Maryland, a trial is scheduled for September 16, 2024 in a case filed by the Mayor and City Council of Baltimore. Additional litigation is anticipated in cases filed by subdivisions that are not participating in the Distributor Settlement Agreement, as well as in cases filed by non-governmental or non-political entities, including hospitals, third-party payors, 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 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. The Company denies the allegations in the Complaint and intends to defend itself vigorously in the litigation.
Shareholder Securities Litigation
On October 11, 2019, Teamsters Local 443 Health Services & Insurance Plan, St. Paul Electrical Construction Pension Plan, St. Paul Electrical Construction Workers Supplemental Pension Plan (2014 Restatement), Retirement Medical Funding Plan for the St. Paul Electrical Workers, and San Antonio Fire & Police Pension Fund filed a complaint for a purported derivative action in the Delaware Court of Chancery against the Company and certain of its current and former officers and directors (collectively, “Defendants”). The complaint alleges that the Defendants breached their fiduciary duties by failing to oversee the compliance by certain of the Company’s subsidiaries (including the Company’s former subsidiary Medical Initiatives, Inc. ("MII")) with federal regulations, allegedly resulting in the payment of fines and penalties in connection with the settlements with the USAO-EDNY in fiscal 2017 and 2018 that resolved claims arising from MII's pre-filled syringe program. In December 2019, Defendants filed a motion to dismiss the complaint. After briefing and oral argument, on August 24, 2020 the Delaware Court of Chancery denied Defendants' motion to dismiss. On September 24, 2020, the Board of Directors of the Company established a Special Litigation Committee to conduct an investigation concerning the plaintiffs’ allegations, and on November 10, 2020, the Delaware Court of Chancery granted the Special Litigation Committee’s motion to stay the litigation pending its investigation. On September 22, 2021, the Special Litigation Committee filed its report under seal and moved to dismiss the case. On November 17, 2023, the Delaware Court of Chancery granted the Special Litigation Committee's motion to dismiss.
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 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 Chancery Court’s judgment. On January 20, 2023, the Plaintiffs also appealed the ruling to the Delaware Supreme Court. On March 21, 2023 the Court of Chancery denied the Plaintiffs' Motion for Relief from Judgement and Order Pursuant to Rule 60(b). On September 20, 2023, the Delaware Supreme Court heard oral argument on the appeal and took the matter under advisement.
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 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., the Company’s animal health subsidiary, in connection with grand jury subpoenas relating to compliance with state and federal regulatory requirements governing wholesale shipments of animal health products to customers. The Company is cooperating with the investigation.
v3.23.3
Litigation Settlements
 12 Months Ended
Sep. 30, 2023
Litigation Settlement [Abstract]  
Litigation Settlements Litigation 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 a named a plaintiff in any of 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. During the fiscal years ended September 30, 2023, 2022, and 2021, the Company recognized gains relating to these lawsuits of $239.1 million, $1.8 million, and $168.8 million, 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.
v3.23.3
Business Segment Information
 12 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company is organized geographically based upon the products and services it provides to its customer and reports its results under two reportable segments: U.S. Healthcare Solutions and International Healthcare Solutions reportable segments.
Effective October 1, 2022, the chief operating decision maker ("CODM") of the Company is the Executive Vice President and Chief Operating Officer of the Company, whose function is to allocate resources to, and assess the performance of, the Company's operating segments. Prior to October 1, 2022, the CODM of the Company was the Chairman, President & Chief Executive Officer of the Company.
The U.S. Healthcare Solutions reportable segment distributes a comprehensive offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers. The U.S. Healthcare Solutions reportable segment also provides pharmaceutical distribution (including plasma and other blood products, injectable pharmaceuticals, vaccines, and other specialty pharmaceutical products) and additional services to physicians who specialize in a variety of disease states, especially oncology, and to other healthcare providers, including hospitals and dialysis clinics. Additionally, the U.S. Healthcare Solutions reportable segment provides data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers. The U.S. Healthcare Solutions reportable segment also provides pharmacy management, staffing and additional consulting services, and supply management software to a variety of retail and institutional healthcare providers. It also provides a full suite of integrated manufacturer services that ranges from clinical trial support to product post-approval and commercialization support. Additionally, it delivers packaging solutions to institutional and retail healthcare providers. Through its animal health business, the U.S. Healthcare Solutions reportable segment sells pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and various other products to customers in both the companion animal and production animal markets. It also offers demand-creating sales force services to manufacturers.
The International Healthcare Solutions reportable segment consists of businesses that focus on international pharmaceutical wholesale and related service operations and global commercialization services. The International Healthcare Solutions reportable segment distributes pharmaceuticals, other healthcare products, and related services to healthcare providers, including pharmacies, doctors, health centers and hospitals primarily in Europe. It is a leading global specialty transportation and logistics provider for the biopharmaceutical industry. It also is a leading provider of specialized services, including regulatory affairs, development consulting and scientific affairs, pharmacovigilance, and quality management and compliance, for the life sciences industry. In Canada, the business drives innovative partnerships with manufacturers, providers, and pharmacies to improve product access and efficiency throughout the healthcare supply chain.
The following illustrates reportable and operating segment disaggregated revenue as required by ASC 606, "Revenue from Contracts with Customers," for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions
Human Health$229,716,669 $207,284,444 $197,777,128 
Animal Health5,042,549 4,815,758 4,684,417 
Total U.S. Healthcare Solutions234,759,218 212,100,202 202,461,545 
International Healthcare Solutions
Alliance Healthcare22,349,278 21,890,402 7,373,365 
Other Healthcare Solutions5,069,401 4,601,271 4,156,264 
Total International Healthcare Solutions27,418,679 26,491,673 11,529,629 
Intersegment eliminations(4,486)(4,869)(2,331)
Revenue$262,173,411 $238,587,006 $213,988,843 
The following illustrates reportable segment operating income information for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$2,596,559 $2,456,972 $2,257,918 
International Healthcare Solutions692,562 706,458 390,286 
Total segment operating income$3,289,121 $3,163,430 $2,648,204 
The following reconciles total segment operating income to income before income taxes for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Total segment operating income$3,289,121 $3,163,430 $2,648,204 
Gains from antitrust litigation settlements239,092 1,835 168,794 
LIFO (expense) credit(204,595)(67,171)203,028 
Turkey highly inflationary impact(86,967)(40,033)— 
Acquisition-related intangibles amortization(551,046)(304,551)(176,221)
Litigation and opioid-related credit (expenses)24,693 (123,191)(272,623)
Acquisition-related deal and integration expenses(139,683)(119,561)(116,969)
Restructuring and other expenses(229,884)(63,498)(82,319)
Goodwill impairment— (75,936)(6,373)
Impairment of assets— (4,946)(11,324)
Operating income2,340,731 2,366,378 2,354,197 
Other income, net(49,036)(27,352)(41,736)
Interest expense, net228,931 210,673 174,074 
Income before income taxes$2,160,836 $2,183,057 $2,221,859 
Segment operating income is evaluated by the CODM of the Company and excludes gains from antitrust litigation settlements; LIFO (expense) credit; Turkey highly inflationary impact; acquisition-related intangibles amortization; litigation and opioid-related credit (expenses); acquisition-related deal and integration expenses; restructuring and other expenses; goodwill impairment; and impairment of assets. All corporate office expenses are allocated to the operating segment level.
Litigation and opioid-related credit in the fiscal year ended September 30, 2023 includes the receipt of $83.4 million from the H.D. Smith opioid litigation indemnity escrow.    
Included in Other Income, Net, the Company recognized net gains of $40.7 million and $56.2 million from the divestiture of non-core businesses in the fiscal years ended September 30, 2023 and 2022, respectively. Included in Other Income, Net, the Company recorded a $64.7 million gain on the remeasurement of an equity investment in the fiscal year ended September 30, 2021.
    The following illustrates depreciation and amortization by reportable segment for the periods indicated:
Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$292,814 $274,554 $266,575 
International Healthcare Solutions120,044 114,790 62,376 
Acquisition-related intangibles amortization551,046 304,551 176,221 
Total depreciation and amortization$963,904 $693,895 $505,172 
                
Depreciation and amortization related to property and equipment and intangible assets, but excludes amortization of deferred financing costs and other debt-related items, which are included in interest expense, net.
The following illustrates capital expenditures by reportable segment for the periods indicated:
Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$268,069 $295,406 $310,525 
International Healthcare Solutions190,290 200,912 127,692 
Total capital expenditures$458,359 $496,318 $438,217 
v3.23.3
Fair Value of Financial Instruments
 12 Months Ended
Sep. 30, 2023
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 September 30, 2023 and 2022 approximate fair value based upon the relatively short-term nature of these financial instruments. Within Cash and Cash Equivalents, the Company had $1,489.0 million and $1,602.0 million of investments in money market accounts as of September 30, 2023 and 2022, respectively. 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 September 30, 2023 were $4,146.1 million and $3,572.6 million, respectively. The recorded amount of long-term debt and the corresponding fair value as of September 30, 2022 were $4,632.4 million and $4,130.3 million, respectively. The fair value of long-term debt was determined based upon inputs other than quoted prices, otherwise known as Level 2 inputs.
v3.23.3
Subsequent Event
 12 Months Ended
Sep. 30, 2023
Subsequent Events [Abstract]  
Subsequent Event Subsequent EventIn November 2023, the Company's Board of Directors increased the quarterly dividend paid on common stock by 5% and declared a regular quarterly cash dividend of $0.51 per share, payable on November 27, 2023 to shareholders of record on November 13, 2023.
v3.23.3
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Sep. 30, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS
(In thousands)Balance at
Beginning
of Period		Charged to
Costs and
Expenses (1)		Deductions (2)Balance at
End of
Period
Year Ended September 30, 2023    
Allowances for returns and credit losses$1,626,729 $4,846,067 $(5,039,400)$1,433,396 
Year Ended September 30, 2022    
Allowances for returns and credit losses$1,356,684 $5,124,081 $(4,854,036)$1,626,729 
Year Ended September 30, 2021    
Allowances for returns and credit losses$1,417,308 $3,906,776 $(3,967,400)$1,356,684 
__________________________________________________________

(1)Represents the provision for returns and credit losses.
(2)Represents reductions to the returns allowance and accounts receivable written off during year, net of recoveries.
v3.23.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Pay vs Performance Disclosure      
Net income (loss) attributable to AmerisourceBergen Corporation $ 1,745,293 $ 1,698,820 $ 1,539,932
v3.23.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2023
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
v3.23.3
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 30, 2023
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 the Company as of the dates and for the periods indicated. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("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 due to uncertainties inherent in such estimates. Management periodically evaluates estimates used in the preparation of the financial statements for continued reasonableness.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). ASU 2016-13 requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amounts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. ASU 2016-13 was effective for annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years, and a modified retrospective approach was required, with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance was effective.
The Company adopted ASU 2016-13 as of October 1, 2020. In connection with the adoption of ASU 2016-13, the Company recognized a $21.1 million, net of tax of $6.1 million, cumulative adjustment to retained earnings.
For the Company's credit loss policy, refer to the "Concentrations of Credit Risk and Allowance for Credit Losses" section of Note 1.
Recently Issued Accounting Pronouncements Not Yet Adopted
As of September 30, 2023, there were no recently issued accounting standards that may have a material impact on the Company's financial position, results of operations, or cash flows upon their adoption.
Business Combinations
Business Combinations
The assets acquired and liabilities assumed from an acquired business are recorded at estimated fair value, with the residual of the purchase price recorded as goodwill. The results of operations of an acquired businesses are included in the Company's operating results from the date of acquisition.
Cash, Cash Equivalents, and Restricted Cash
Cash, Cash Equivalents, and Restricted Cash
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The carrying value of cash equivalents approximates fair value.
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, including opioid-related legal settlements.
Concentrations of Credit Risk and Allowance for Credit Losses
Concentrations of Credit Risk and Allowance for Credit Losses
    The Company has sales to a large number of customers in the healthcare industry that include institutional and retail healthcare providers. Institutional healthcare providers include acute care hospitals, health systems, mail order pharmacies, long-term care and other alternate care pharmacies and providers of pharmacy services to such facilities, and physician offices. Retail healthcare providers include national and regional retail drugstore chains, independent community pharmacies, pharmacy departments of supermarkets and mass merchandisers, and veterinarians. The financial condition of the Company's customers can be affected by changes in government reimbursement policies as well as by other economic pressures in the healthcare industry.
The Company's trade accounts receivables are exposed to credit risk. Revenue from the various agreements and arrangements with the Company's largest customer in the fiscal year ended September 30, 2023, Walgreens Boots Alliance, Inc. ("WBA"), accounted for approximately 26% of revenue and represented approximately 38% of accounts receivable, net of incentives, as of September 30, 2023. Express Scripts, Inc., the Company's second largest customer in the fiscal year ended September 30, 2023, accounted for approximately 14% of revenue and represented approximately 7% of accounts receivable as of September 30, 2023. The Company generally does not require collateral for trade receivables. The Company evaluates its receivables for risk of loss by grouping its receivables with similar risk characteristics. Expected losses are determined based on a combination of historical loss trends, current economic conditions, and forward-looking risk factors. Changes in these factors, among others, may lead to adjustments in the Company's allowance for credit losses. The calculation of the required allowance requires judgment by Company management as to the impact of those and other factors on the ultimate realization of its trade receivables. The Company performs ongoing credit evaluations of its customers' financial condition and maintains reserves for expected credit losses for specific credit problems when they arise. There were no significant changes to this process during the fiscal years ended September 30, 2023, 2022, and 2021, and bad debt expense was computed in a consistent manner during these periods.
The Company maintains cash, cash equivalents, and restricted cash with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and, therefore, bear minimal credit risk. The Company seeks to mitigate such risks by monitoring the risk profiles of these counterparties. The Company also seeks to mitigate risk by monitoring the investment strategy of money market accounts in which it is invested, which are classified as cash equivalents.
Contingencies
Contingencies
Loss 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, product liability, intellectual property, regulatory, employment discrimination, 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 liability when it is both probable that a loss has been incurred and the amount can be reasonably estimated. The Company also performs an assessment of the materiality of loss contingencies where a loss is either not probable or it is reasonably possible that a loss could be incurred in excess of amounts accrued. If a loss or an additional loss has at least a reasonable possibility of occurring and the impact on the financial statements would be material, the Company provides disclosure of the loss contingency in the notes to its financial statements. The Company reviews all contingencies at least quarterly to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or the range of the loss can be made. Among the loss contingencies that the Company considered in accordance with the foregoing in connection with the preparation of the accompanying financial statements were the opioid matters described in Note 13.
Gain Contingencies: The Company records gain contingencies when they are realized. Gains from antitrust litigation settlements are realized upon the receipt of cash and recorded as a reduction to cost of goods sold because they represent a
recovery of amounts historically paid to manufacturers to originally acquire the pharmaceuticals that were the subject of the antitrust litigation settlements (see Note 14).
Derivative Financial Instruments
Derivative Financial Instruments
The Company utilizes derivative financial instruments to manage exposures to foreign currency. The Company records all derivative financial instruments on the balance sheet at fair value and complies with established criteria for designation and effectiveness of hedging relationships. The Company's policy prohibits it from entering into derivative financial instruments for speculative or trading purposes.
Foreign Currency
Foreign Currency
When the functional currency of the Company's foreign operations is the applicable local currency, assets and liabilities are translated into U.S. dollars using the current exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates for the period. The resulting asset and liability translation adjustments are recorded as a component of Accumulated Other Comprehensive Loss within Stockholders' Equity.
During the quarter ended March 31, 2022, Turkey became a highly inflationary economy, as defined under U.S. GAAP. As a result, effective April 1, 2022, and until such time as the applicable economy is no longer considered highly inflationary, Turkish Lira-denominated assets and liabilities are remeasured using the Company's reporting currency in accordance with ASC 830, "Foreign Currency Matters." Turkish Lira denominated monetary assets and liabilities (primarily cash, accounts receivables, and accounts payables) are remeasured at each balance sheet date using the currency exchange rate then in effect, with currency remeasurement gains and losses recognized in Other Income in the Statement of Operations. Turkish Lira-denominated nonmonetary assets and liabilities (primarily inventories, goodwill, and other intangible assets) are translated at the currency exchange rate in effect prior to highly inflation accounting commencement or at the exchange rate in effect at their date of acquisition if subsequent to April 1, 2022. As such, nonmonetary assets and liabilities retain a higher historical basis when currencies are devalued. This higher historical basis results in incremental expense being recognized when nonmonetary assets are consumed (i.e., sale of inventory). During the fiscal years ended September 30, 2023 and 2022, the Company recorded incremental expenses of $87.0 million and $40.0 million, respectively, in Cost of Goods Sold related to the consumption of inventory and expenses of $9.0 million and $11.9 million, respectively, within Other Income, Net related to the currency remeasurement of monetary assets and liabilities.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
Goodwill arises from acquisitions or consolidations of specific operating companies and is assigned to the reporting unit in which a particular operating company resides. The Company identifies its reporting units based upon the Company's management reporting structure, beginning with its operating segments. The Company aggregates two or more components within an operating segment that have similar economic characteristics. The Company evaluates whether the components within its operating segments have similar economic characteristics, which include the similarity of long-term gross margins, the nature of the components' products, services, and production processes, the types of customers and the methods by which products or services are delivered to customers, and the components' regulatory environment. As of September 30, 2023, the Company’s reporting units include U.S. Pharmaceutical Distribution Services, U.S. Consulting Services, MWI Animal Health, Alliance Healthcare, Innomar, World Courier, PharmaLex, and Profarma.
Goodwill and other intangible assets with indefinite lives, such as certain trademarks and trade names, are not amortized; rather, they are tested for impairment at least annually. For the purpose of these impairment tests, the Company can elect to perform a qualitative assessment to determine if it is more likely than not that the fair values of its reporting units and indefinite-lived intangible assets are less than the respective carrying values of those reporting units and indefinite-lived intangible assets, respectively. Such qualitative factors can include, among others, industry and market conditions, overall financial performance, and relevant entity-specific events. If the Company concludes based on its qualitative assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying value, it performs a quantitative analysis. The Company elected to perform a quantitative impairment assessment of goodwill for its reporting units in fiscal 2023 and 2022 with the exception of its PharmaLex reporting unit, which was recently acquired. The Company elected to perform a qualitative impairment assessment of indefinite-lived intangible assets in fiscal 2023 and a quantitative impairment assessment of indefinite-lived intangible assets in fiscal 2022. The Company elected to perform a qualitative impairment assessment of goodwill and indefinite-lived intangible assets in fiscal 2021, with the exception of its testing of goodwill in the AmerisourceBergen Consulting Services (the sum of U.S. Consulting Service and Innomar reporting units, under the Company’s prior reporting structure) and Profarma reporting units.
The quantitative goodwill impairment test requires the Company to compare the carrying value of the reporting unit's net assets to the fair value of the reporting unit. If the fair value exceeds the carrying value, no further evaluation is required, and no impairment loss is recognized. If the carrying amount exceeds the fair value, the difference between the carrying value
and the fair value is recorded as an impairment loss, the amount of which may not exceed the total amount of goodwill allocated to the reporting unit.
When performing a quantitative impairment assessment, the Company utilizes an income approach or a weighted-average of an income and market approach to value its reporting units. The income approach relies on a discounted cash flow analysis, which considers forecasted cash flows discounted at an appropriate discount rate, to determine the fair value of each reporting unit. The Company generally believes that market participants would use a discounted cash flow analysis to determine the fair value of the Company's reporting units in a sale transaction. The annual goodwill impairment test requires the Company to make a number of assumptions and estimates concerning future levels of revenue growth, operating margins, depreciation, amortization, capital expenditures, and working capital requirements, which are based upon the Company's long-range plan. The discount rate is an estimate of the overall after-tax rate of return required by a market participant whose weighted average cost of capital includes both debt and equity, including a risk premium. While the Company uses the best available information to prepare its forecasted cash flows and discount rate assumptions, actual future cash flows and/or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances. While there are always changes in assumptions to reflect changing business and market conditions, the Company's overall methodology and the population of assumptions used have remained unchanged.
The quantitative impairment test for indefinite-lived intangibles other than goodwill (certain trademarks and trade names) consists of a comparison of the fair value of the indefinite-lived intangible asset to the carrying value of the asset as of the impairment testing date. The Company estimates the fair value of its indefinite-lived intangibles using the relief from royalty method, which is a widely used valuation technique for such assets. The fair value derived from the relief from royalty method is measured as the discounted cash flow savings realized from owning such indefinite-lived trademarks and trade names and not having to pay a royalty for their use.
The Company completed its required annual impairment tests relating to goodwill and indefinite-lived intangible assets in the fiscal years ended September 30, 2023, 2022, and 2021. The Company recorded goodwill impairments of $75.9 million and $6.4 million in its Profarma reporting unit in connection with its fiscal 2022 and 2021 impairment tests (see Note 5), respectively. No goodwill impairments were recorded in the fiscal year ended September 30, 2023, and no indefinite-lived intangible asset impairments were recorded in the fiscal years ended September 30, 2023, 2022, or 2021.
Finite-lived intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. The Company performs a recoverability assessment of its long-lived assets when impairment indicators are present.
Income Taxes
Income Taxes
The Company accounts for income taxes using a method that requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between tax bases and financial reporting bases of the Company's assets and liabilities (commonly known as the asset and liability method). In assessing the need to establish a valuation allowance on deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, including settlements with tax authorities or resolutions of any related appeals or litigation processes, based upon the technical merits of the position. Tax benefits associated with uncertain tax positions that have met the recognition criteria are measured and recorded based upon the highest probable outcome that is more than 50% likely to be realized after full disclosure and resolution of a tax examination.
Inventories
Inventories
Inventories are stated at the lower of cost or market. Cost for approximately 66% of the Company's inventories as of September 30, 2023 and 2022 has been determined using the last-in, first-out ("LIFO") method. If the Company had used the first-in, first-out method of inventory valuation, which approximates current replacement cost, inventories would have been approximately $1,588.0 million and $1,383.4 million higher than the amounts reported as of September 30, 2023 and 2022, respectively. The Company recorded LIFO expense of $204.6 million and $67.2 million in the fiscal years ended September 30, 2023 and 2022, respectively, and a LIFO credit of $203.0 million in the fiscal year ended September 30, 2021. The annual LIFO provision is affected by manufacturer pricing practices, which may be impacted by market and other external influences, changes in inventory quantities, and product mix, many of which are difficult to predict. Changes to any of the above factors can have a material impact to the Company's annual LIFO provision.
Investments
Investments
The Company first evaluates its investments in accordance with the variable interest model to determine whether it has a controlling financial interest in an investment. This evaluation is made as of the date on which the Company makes its initial investment, and subsequent evaluations are made if the structure of the investment changes. If it has determined that an investment is a variable interest entity ("VIE"), the Company evaluates whether the VIE is required to be consolidated. When the Company holds rights that give it the power to direct the activities of an entity that most significantly impact the entity's economic performance, combined with the obligation to absorb an entity's losses and the right to receive benefits, the Company consolidates a VIE. If it is determined that an investment is not a VIE, the Company then evaluates its investments under the voting interest model and generally consolidates investments in which it holds an ownership interest of greater than 50%. When the Company consolidates less-than-wholly-owned subsidiaries, it records its noncontrolling interest in its consolidated financial statements.
Equity Securities For equity securities without a readily determinable fair value, the Company uses the fair value measurement alternative and measures the securities at cost less impairment, if any, including adjustments for observable price changes in orderly transactions for an identical or similar investment of the same issuer. For investments in which the Company can exercise significant influence but does not control, it uses the equity method of accounting. The Company's share of earnings and losses of its investments is recorded in Other Income in the Consolidated Statements of Operations. The Company monitors its investments for impairment by considering factors such as the operating performance of the investment and current economic and market conditions.
Leases
Leases
At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the facts and circumstances present. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. At the lease commencement date, operating and finance lease liabilities and their corresponding right-of-use ("ROU") assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable and, as such, the Company uses its incremental borrowing rate to discount the lease liabilities, which is the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment. Certain adjustments to the ROU asset may be required for items such as incentives received. The Company does not recognize on the balance sheet leases with terms of one year or less.
    The Company has operating leases that are primarily comprised of buildings, office equipment, distribution center equipment, and vehicles. Some of the Company's leases include options to extend or early terminate the lease, which are included in the lease term when it is reasonably certain to exercise and there is a significant economic incentive to exercise that option. Certain lease agreements contain provisions for future rent increases. Lease payments included in the measurement of the lease liability comprise fixed payments. The Company combines lease and non-lease components as a single component. Operating lease cost is recognized over the expected lease term on a straight-line basis and is recorded in Distribution, Selling, and Administrative in the Company's Consolidated Statements of Operations. Variable lease payments, which are primarily comprised of maintenance, taxes, and other payments based on usage, are recognized when the expense is incurred. The Company's leases do not contain residual value guarantees.
Manufacturer Incentives
Manufacturer Incentives
The Company considers fees and other incentives received from its suppliers relating to the purchase and distribution of inventory to represent product discounts, and, as a result, they are recognized within cost of goods sold upon the sale of the related inventory.
Property and Equipment
Property and Equipment
Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, which range from 3 to 40 years for buildings and improvements and from 3 to 10 years for machinery, equipment, and other. The costs of repairs and maintenance are charged to expense as incurred.
The Company capitalizes project costs relating to computer software developed or obtained for internal use when the activities related to the project reach the application development stage. Costs that are associated with preliminary stage activities, training, maintenance, and all other post-implementation stage activities are expensed as they are incurred. Software development costs are depreciated using the straight-line method over the estimated useful lives, which range from 3 to 10 years.
Revenue Recognition
Revenue Recognition
The Company's revenues are primarily generated from the distribution of pharmaceutical products. The Company also generates revenues from global commercialization services, which include clinical trial support, post-approval and commercialization support, and global specialty transportation and logistics for the biopharmaceutical industry. See Note 15 for the Company's disaggregated revenue.
The Company recognizes revenue related to the distribution of products at a point in time when title and control transfers to customers and there is no further obligation to provide services related to such products. Service revenue is recognized over the period that services are provided to the customer. The Company is generally the principal in a transaction; therefore, revenue is primarily recorded on a gross basis. When the Company is the principal in a transaction, it has determined that it controls the ability to direct the use of the product or service prior to the transfer to a customer, it is primarily responsible for fulfilling the promise to provide the product or service to its customer, it has discretion in establishing pricing, and it controls the relationship with the customer. Revenue is recognized at the amount of consideration expected to be received. For the distribution business, revenue is primarily generated from a contract related to a confirmed purchase order with a customer in a distribution arrangement and is net of estimated sales returns and allowances, other customer incentives, and sales tax.
When the Company is the agent in a transaction, the fee received from a manufacturer customer is recognized within revenue as the service is performed.
The Company's customer sales return policy generally allows customers to return products only if the products can be resold at full value or returned to suppliers for full credit. The Company records an accrual for estimated customer sales returns at the time of sale to the customer based upon historical return trends.
Share-Based Compensation
Share-Based Compensation
    The Company accounts for the compensation cost of all share-based payments at fair value. The fair value of restricted stock units and performance stock units is based upon the grant date market price of the Company’s common stock.
    Share-based compensation expense is recognized over the requisite service period within Distribution, Selling, and Administrative in the Consolidated Statements of Operations to correspond with the same line item as the cash compensation paid to employees. Compensation expense associated with nonvested performance stock units is dependent upon the Company's periodic assessment of the probability of the targets being achieved and its estimate of the number of shares that will ultimately be issued.
    The income tax effects of awards are recognized when the awards vest or are settled and are recognized in Income Tax Expense in the Company’s Consolidated Statements of Operations.
Shipping and Handling Costs Shipping and Handling CostsShipping and handling costs include all costs to warehouse, pick, pack, and deliver inventory to customers.
Supplier Reserves
Supplier Reserves
The Company establishes reserves against amounts due from its suppliers relating to various price and rebate incentives, including deductions or billings taken against payments otherwise due to them from the Company. These reserve estimates are established based upon the judgment of Company management after carefully considering the status of current outstanding claims, historical experience with the suppliers, the specific incentive programs, and any other pertinent information available to the Company. The Company evaluates the amounts due from its suppliers on a continual basis and adjusts the reserve estimates when appropriate based upon changes in factual circumstances. The ultimate outcome of any outstanding claim may be different than the Company's estimate.
v3.23.3
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2023
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:
September 30,
(amounts in thousands)202320222021
Cash and cash equivalents$2,592,051 $3,388,189 $2,547,142 
Restricted cash (included in Prepaid Expenses and Other)97,722 144,980 462,986 
Restricted cash (included in Other Assets)63,116 60,370 60,000 
Cash, cash equivalents, and restricted cash$2,752,889 $3,593,539 $3,070,128 
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:
September 30,
(amounts in thousands)202320222021
Cash and cash equivalents$2,592,051 $3,388,189 $2,547,142 
Restricted cash (included in Prepaid Expenses and Other)97,722 144,980 462,986 
Restricted cash (included in Other Assets)63,116 60,370 60,000 
Cash, cash equivalents, and restricted cash$2,752,889 $3,593,539 $3,070,128 
Schedule of Property and Equipment
The following table summarizes the Company's property and equipment balances for the periods indicated:
September 30,
(in thousands)20232022
Property and equipment, at cost:
Land$116,465 $122,426 
Buildings and improvements836,175 840,852 
Machinery, equipment, and other3,786,449 3,424,070 
Total property and equipment4,739,089 4,387,348 
Less accumulated depreciation(2,603,918)(2,252,345)
Property and equipment, net$2,135,171 $2,135,003 
v3.23.3
Acquisitions and Equity Method Investment (Tables)
 12 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Fair Value of the Intangible Assets Acquired
The estimated fair value of the intangible assets acquired of $558.9 million, and the estimated useful lives are as follows:
(in thousands, except useful lives)Fair ValueUseful Lives
Customer relationships$522,634 12
Trade names30,931 5
Software technology5,333 6
Total$558,898 
The estimated fair value of the intangible assets acquired of $3.7 billion and the estimated useful lives are as follows:
(in thousands, except useful lives)Fair ValueWeighted-Average Useful Life
Customer relationships$3,327,000 18
Trade names408,000 11
Total$3,735,000 
Schedule of Assets Acquired and Liabilities Assumed The Company completed the purchase price allocation as of June 1, 2022 and recorded purchase accounting adjustments that reduced working capital account balances by $102.7 million, increased the corresponding deferred tax assets by $63.0 million, and decreased other assets by $13.3 million, which resulted in a $53.0 million increase to Goodwill. There were no measurement period adjustments recorded to the previously-reported opening balance sheet that would have had a material impact on the Company's previously-reported results of operations had those adjustments been recorded in the previous reporting periods. The final purchase price has been 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:
(in thousands)
Consideration
Cash$6,662,020 
Equity (2 million shares of Cencora, Inc. common stock)
229,080 
Other equity consideration6,061 
Fair value of total consideration$6,897,161 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$921,995 
Accounts receivable3,628,056 
Inventories1,647,330 
Prepaid expenses and other355,030 
Property and equipment634,220 
Goodwill2,496,338 
Other intangible assets3,735,000 
Deferred income taxes33,922 
Other assets534,393 
Total assets acquired13,986,284 
Accounts payable(4,618,807)
Accrued expenses and other(765,463)
Short-term debt(353,420)
Deferred income taxes(760,937)
Other liabilities(405,332)
Total liabilities assumed(6,903,959)
Net assets acquired7,082,325 
Noncontrolling interest(185,164)
Equity consideration(235,141)
Cash acquired, including restricted cash of $143,308 included in Prepaid Expenses and Other
(1,065,303)
Net cash paid$5,596,717 
v3.23.3
Variable Interest Entity (Tables)
 12 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets and Liabilities of Profarma
The following assets and liabilities of Profarma are included in the Company's Consolidated Balance Sheet for the periods indicated:
September 30,
(in thousands)20232022
Cash and cash equivalents$33,256 $23,144 
Accounts receivables, net253,419 192,930 
Inventories255,801 207,858 
Prepaid expenses and other63,327 63,982 
Property and equipment, net42,759 35,554 
Other intangible assets62,384 66,568 
Other long-term assets77,889 71,327 
Total assets$788,835 $661,363 
Accounts payable$300,875 $215,515 
Accrued expenses and other56,280 47,952 
Short-term debt73,650 60,851 
Long-term debt74,132 64,918 
Deferred income taxes22,701 25,801 
Other long-term liabilities54,691 52,417 
Total liabilities$582,329 $467,454 
v3.23.3
Income Taxes (Tables)
 12 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Taxes
The following table summarizes the Company's income before income taxes for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Domestic$1,418,457 $1,351,696 $1,495,899 
Foreign742,379 831,361 725,960 
Total$2,160,836 $2,183,057 $2,221,859 
Schedule of Income Tax Expense
The components of the Company's consolidated income tax expense are summarized in the following table for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Current provision:   
Federal$259,126 $126,969 $184,375 
State and local42,933 39,282 30,659 
Foreign245,065 154,082 127,351 
Total current provision547,124 320,333 342,385 
Deferred (benefit) provision:   
Federal(15,600)150,328 111,428 
State and local19,445 31,129 47,516 
Foreign(122,709)14,727 175,922 
Total deferred (benefit) provision(118,864)196,184 334,866 
Provision for income taxes$428,260 $516,517 $677,251 
Schedule of Tax Rate Reconciliation
A reconciliation of the statutory U.S. federal income tax rate to the Company's consolidated effective income tax rate is as follows for the periods indicated:
 Fiscal Year Ended September 30,
 202320222021
Statutory U.S. federal income tax rate21.0%21.0%21.0%
State and local income tax rate, net of federal tax benefit2.32.52.8
Tax effect of foreign operations(2.4)(1.9)(0.5)
Tax law changes 1
(0.5)—7.3
Other, net(0.6)2.1(0.1)
Effective income tax rate19.8%23.7%30.5%
1 Tax law changes include 5.7% related to UK Tax Reform and 1.6% related to Swiss Tax Reform in fiscal 2021.
Schedule of Significant Components Of Deferred Tax Liabilities (Assets) Significant components of the Company's deferred tax liabilities (assets) are as follows:
 September 30,
(in thousands)20232022
Inventories$1,475,467 $1,471,064 
Property and equipment145,308 149,896 
Goodwill and other intangible assets1,242,466 1,184,477 
Right-of-use assets255,221 219,616 
Other51,490 61,148 
Gross deferred tax liabilities3,169,952 3,086,201 
Net operating loss and tax credit carryforwards(532,851)(426,651)
Allowance for credit losses(18,221)(67,788)
Accrued expenses(18,108)(24,435)
Accrued litigation liability(909,256)(981,627)
Employee and retiree benefits(22,927)(22,682)
Goodwill and other intangible assets(425,898)(446,605)
Lease liabilities(280,550)(241,469)
Share-based compensation(23,087)(33,933)
Other(119,180)(75,428)
Gross deferred tax assets(2,350,078)(2,320,618)
Valuation allowance for deferred tax assets637,403 617,259 
Deferred tax assets, net of valuation allowance(1,712,675)(1,703,359)
Net deferred tax liabilities$1,457,277 $1,382,842 
Schedule of Reconciliation Amount Of Unrecognized Tax Benefits, Excluding Interest and Penalties
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, for the periods indicated is as follows:
Fiscal Year Ended September 30,
(in thousands)202320222021
Unrecognized tax benefits at beginning of period$526,522 $500,399 $478,351 
Additions of tax positions of the current year22,646 21,074 20,515 
Additions to tax positions of the prior years11,875 5,073 17,022 
Reductions of tax positions of the prior years(31,110)— — 
Settlements and expiration of statutes of limitations(3,457)(24)(15,489)
Effects of foreign currency translation(543)— — 
Unrecognized tax benefits at end of period$525,933 $526,522 $500,399 
v3.23.3
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in the Carrying Value of Goodwill
The following is a summary of the changes in the carrying value of goodwill, by reportable segment, for the fiscal years ended September 30, 2023 and 2022:
(in thousands)U.S. Healthcare SolutionsInternational Healthcare SolutionsTotal
Goodwill as of September 30, 2021$6,260,374 $2,770,157 $9,030,531 
Purchase accounting adjustments— 27,186 27,186 
Goodwill recognized in connection with acquisition26,143 — 26,143 
Goodwill derecognized in connection with divestiture(1,224)— (1,224)
Goodwill impairment— (75,936)(75,936)
Foreign currency translation(5,053)(497,761)(502,814)
Goodwill as of September 30, 20226,280,240 2,223,646 8,503,886 
Goodwill recognized in connection with acquisitions— 1,026,440 1,026,440 
Goodwill derecognized in connection with divestiture— (14,424)(14,424)
Foreign currency translation2,177 56,038 58,215 
Goodwill as of September 30, 2023$6,282,417 $3,291,700 $9,574,117 
Schedule of Other Intangible Assets - Indefinite-lived
The following is a summary of other intangible assets:
 September 30, 2023September 30, 2022
(dollars 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 $667,932 $— $667,932 
Finite-lived:
Customer relationships14 years4,845,091 (1,213,200)3,631,891 4,226,547 (931,961)3,294,586 
Trade names and other4 years1,224,795 (441,903)782,892 542,346 (172,127)370,219 
Total other intangible assets$6,086,886 $(1,655,103)$4,431,783 $5,436,825 $(1,104,088)$4,332,737 
Schedule of Other Intangible Assets - Finite-lived
The following is a summary of other intangible assets:
 September 30, 2023September 30, 2022
(dollars 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 $667,932 $— $667,932 
Finite-lived:
Customer relationships14 years4,845,091 (1,213,200)3,631,891 4,226,547 (931,961)3,294,586 
Trade names and other4 years1,224,795 (441,903)782,892 542,346 (172,127)370,219 
Total other intangible assets$6,086,886 $(1,655,103)$4,431,783 $5,436,825 $(1,104,088)$4,332,737 
v3.23.3
Debt (Tables)
 12 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt Instruments
Debt consisted of the following:
 September 30,
(in thousands)20232022
Multi-currency revolving credit facility due 2028$— $— 
Receivables securitization facility due 2025350,000 350,000 
Revolving credit note— — 
Overdraft facility due 2024 (£10,000)
— — 
Money market facility— — 
0.737% senior notes due 2023
— 672,736 
$500,000, 3.400% senior notes due 2024
499,677 499,195 
$500,000, 3.250% senior notes due 2025
499,026 498,347 
$750,000, 3.450% senior notes due 2027
746,464 745,622 
$500,000, 2.800% senior notes due 2030
495,959 495,348 
$1,000,000, 2.700% senior notes due 2031
991,600 990,480 
$500,000, 4.250% senior notes due 2045
495,378 495,162 
$500,000, 4.300% senior notes due 2047
493,554 493,288 
Alliance Healthcare debt68,017 336,886 
Nonrecourse debt147,782 125,769 
Total debt4,787,457 5,702,833 
Less Cencora, Inc. current portion499,677 672,736 
Less Alliance Healthcare current portion68,017 336,886 
Less nonrecourse current portion73,650 60,851 
Total, net of current portion$4,146,113 $4,632,360 
v3.23.3
Stockholders' Equity and Weighted Average Common Shares Outstanding (Tables)
 12 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of Components of Accumulated Other Comprehensive Loss
The following illustrates the components of Accumulated Other Comprehensive Loss, net of income taxes:
 September 30,
(in thousands)20232022
Pension and postretirement adjustments$406 $(9,038)
Foreign currency translation(1,402,245)(1,820,292)
Other(768)(1,640)
Total accumulated other comprehensive loss$(1,402,607)$(1,830,970)
Schedule of Components of Diluted Weighted Average Shares Outstanding
The following illustrates the components of diluted weighted average shares outstanding:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Weighted average common shares outstanding - basic202,511 208,472 205,919 
Effect of dilutive securities - stock options and restricted stock units
2,080 2,738 2,546 
Weighted average common shares outstanding - diluted204,591 211,210 208,465 
v3.23.3
Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options
A summary of the Company's stock option activity and related information for its option plans for the fiscal year ended September 30, 2023 is presented below:
(in thousands, except exercise price and contractual term)OptionsWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding as of September 30, 20221,932 $833 years$100,496 
Exercised(895)$81  
Outstanding as of September 30, 20231,037 $852 years$98,147 
Exercisable as of September 30, 2023941 $852 years$89,160 
Expected to vest after September 30, 202395 $863 years$8,954 
Schedule of Nonvested Options
A summary of the status of the Company's nonvested options as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 is presented below:
(in thousands, except grant date fair value)OptionsWeighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 2022412 $18
Vested(316)$18
Nonvested as of September 30, 202396 $17
Schedule of Nonvested Restricted Stock
A summary of the status of the Company's nonvested restricted stock units as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 are presented below:
(in thousands, except grant date fair value)Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 20221,806 $108
Granted684 $158
Vested(1,032)$100
Forfeited(163)$132
Nonvested as of September 30, 20231,295 $139
Schedule of Nonvested Performance Stock Units
A summary of the status of the Company's nonvested performance stock units as of September 30, 2023 and changes during the fiscal year ended September 30, 2023 is presented below (based upon target award amounts).
(in thousands, except grant date fair value)Performance
Stock
Units		Weighted
Average
Grant Date
Fair Value
Nonvested as of September 30, 2022277 $117
Granted126 $158
Vested(144)$110
Forfeited(8)$129
Nonvested as of September 30, 2023251 $142
v3.23.3
Leases (Tables)
 12 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Cost and Other Cash Flow Information related to Operating Leases
The following illustrates the components of lease cost for the periods presented:
Fiscal Year Ended September 30,
(in thousands)202320222021
Operating lease cost$234,567 $220,935 $161,054 
Short-term lease cost9,799 11,257 5,901 
Variable lease cost25,598 25,108 14,208 
Total lease cost$269,964 $257,300 $181,163 
Other cash flow information related to operating leases is as follows:
Fiscal Year Ended September 30,
(in thousands)202320222021
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cash payments$229,203 $214,793 $148,385 
Right-of-use assets obtained in exchange for lease liabilities
New operating leases$271,096 $179,214 $770,858 
Schedule of Summarized Balance Sheet Information
The following summarizes balance sheet information related to operating leases:
September 30,
(in thousands, except for lease term and discount rate)20232022
Right of use assets
Other assets$1,019,368 $944,974 
Lease liabilities
Accrued expenses and other$182,462 $158,184 
Other long-term liabilities924,247 864,288 
Total lease liabilities$1,106,709 $1,022,472 
Weighted-average remaining lease term7.85 years8.37 years
Weighted-average discount rate4.66%3.22%
Schedule of Future Minimum Renal Payments, Operating Leases
Future minimum rental payments under noncancellable operating leases were as follows:
Payments Due by Fiscal Year (in thousands)As of
September 30, 2023
2024$218,139 
2025197,174 
2026176,328 
2027150,738 
2028129,808 
Thereafter441,242 
Total future undiscounted lease payments1,313,429 
Less: Future payments for leases that have not yet commenced 1
(2,839)
Less: Imputed interest(203,881)
Total lease liabilities$1,106,709 
1 The Company has certain leases that it has executed of which it does not control the underlying assets; therefore, liabilities and ROU assets related to these leases were not recorded on the Company's Consolidated Balance Sheet as of September 30, 2023.
v3.23.3
Restructuring and Other Expenses (Tables)
 12 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Other Expenses
The following illustrates the expenses incurred by the Company relating to Restructuring and Other Expenses for the periods indicated:
Fiscal Year Ended September 30,
 (in thousands)202320222021
Restructuring and employee severance costs$105,220 $35,316 $46,064 
Business transformation efforts82,117 27,990 36,255 
Other expenses42,547 192 — 
Total$229,884 $63,498 $82,319 
v3.23.3
Business Segment Information (Tables)
 12 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segments Revenue The following illustrates reportable and operating segment disaggregated revenue as required by ASC 606, "Revenue from Contracts with Customers," for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions
Human Health$229,716,669 $207,284,444 $197,777,128 
Animal Health5,042,549 4,815,758 4,684,417 
Total U.S. Healthcare Solutions234,759,218 212,100,202 202,461,545 
International Healthcare Solutions
Alliance Healthcare22,349,278 21,890,402 7,373,365 
Other Healthcare Solutions5,069,401 4,601,271 4,156,264 
Total International Healthcare Solutions27,418,679 26,491,673 11,529,629 
Intersegment eliminations(4,486)(4,869)(2,331)
Revenue$262,173,411 $238,587,006 $213,988,843 
Schedule of Operating Income
The following illustrates reportable segment operating income information for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$2,596,559 $2,456,972 $2,257,918 
International Healthcare Solutions692,562 706,458 390,286 
Total segment operating income$3,289,121 $3,163,430 $2,648,204 
The following illustrates depreciation and amortization by reportable segment for the periods indicated:
Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$292,814 $274,554 $266,575 
International Healthcare Solutions120,044 114,790 62,376 
Acquisition-related intangibles amortization551,046 304,551 176,221 
Total depreciation and amortization$963,904 $693,895 $505,172 
                
The following illustrates capital expenditures by reportable segment for the periods indicated:
Fiscal Year Ended September 30,
(in thousands)202320222021
U.S. Healthcare Solutions$268,069 $295,406 $310,525 
International Healthcare Solutions190,290 200,912 127,692 
Total capital expenditures$458,359 $496,318 $438,217 
Schedule of Reconciliation of Total Segment Operating Income to Income from Continuing Operations before Income Taxes
The following reconciles total segment operating income to income before income taxes for the periods indicated:
 Fiscal Year Ended September 30,
(in thousands)202320222021
Total segment operating income$3,289,121 $3,163,430 $2,648,204 
Gains from antitrust litigation settlements239,092 1,835 168,794 
LIFO (expense) credit(204,595)(67,171)203,028 
Turkey highly inflationary impact(86,967)(40,033)— 
Acquisition-related intangibles amortization(551,046)(304,551)(176,221)
Litigation and opioid-related credit (expenses)24,693 (123,191)(272,623)
Acquisition-related deal and integration expenses(139,683)(119,561)(116,969)
Restructuring and other expenses(229,884)(63,498)(82,319)
Goodwill impairment— (75,936)(6,373)
Impairment of assets— (4,946)(11,324)
Operating income2,340,731 2,366,378 2,354,197 
Other income, net(49,036)(27,352)(41,736)
Interest expense, net228,931 210,673 174,074 
Income before income taxes$2,160,836 $2,183,057 $2,221,859 
v3.23.3
Summary of Significant Accounting Policies - Recently Adopted Accounting Pronouncements (Details) - USD ($)
$ in Thousands
Oct. 01, 2020
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Cumulative adjustment to retained earnings   $ 666,287 $ 71,273 $ 584,411 $ (839,636)
ASU 2016-13          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Cumulative adjustment to retained earnings $ 21,100        
Cumulative adjustment to retained earnings, tax $ 6,100        
v3.23.3
Summary of Significant Accounting Policies - Schedule of Restricted Cash (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 2,592,051 $ 3,388,189 $ 2,547,142  
Cash, cash equivalents, and restricted cash 2,752,889 3,593,539 3,070,128 $ 4,597,746
Restricted cash (included in Prepaid Expenses and Other)        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 97,722 144,980 462,986  
Restricted cash (included in Other Assets)        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash $ 63,116 $ 60,370 $ 60,000  
v3.23.3
Summary of Significant Accounting Policies - Concentrations of Credit Risk (Details) - Customer
 12 Months Ended
Sep. 30, 2023
Revenue | WBA  
Concentration Risk [Line Items]  
Concentration percentage 26.00%
Revenue | Express Scripts, Inc.  
Concentration Risk [Line Items]  
Concentration percentage 14.00%
Accounts receivables | WBA  
Concentration Risk [Line Items]  
Concentration percentage 38.00%
Accounts receivables | Express Scripts, Inc.  
Concentration Risk [Line Items]  
Concentration percentage 7.00%
v3.23.3
Summary of Significant Accounting Policies - Foreign Currency (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cost of Sales    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Turkey highly inflationary impact $ 87.0 $ 40.0
Other (Income) Loss, Net    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Turkey highly inflationary impact $ 9.0 $ 11.9
v3.23.3
Summary of Significant Accounting Policies - Goodwill and Other Intangible Assets (Details) - USD ($)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Accounting Policies [Abstract]      
Goodwill impairment $ 0 $ 75,936,000 $ 6,373,000
Impairment loss $ 0 $ 0 $ 0
v3.23.3
Summary of Significant Accounting Policies - Inventories (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Accounting Policies [Abstract]      
Percentage of inventories, cost determined using LIFO 66.00% 66.00%  
Excess cost of inventories over LIFO, if used FIFO $ 1,588,000 $ 1,383,400  
LIFO expense (credit) $ 204,595 $ 67,171 $ (203,028)
v3.23.3
Summary of Significant Accounting Policies - Property and Equipment (Details)
Sep. 30, 2023
Buildings and improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
Buildings and improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 40 years
Machinery, equipment, and other | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
Machinery, equipment, and other | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 10 years
Software development costs | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
Software development costs | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 10 years
v3.23.3
Summary of Significant Accounting Policies - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost $ 4,739,089 $ 4,387,348
Less accumulated depreciation (2,603,918) (2,252,345)
Property and equipment, net 2,135,171 2,135,003
Land    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 116,465 122,426
Buildings and improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 836,175 840,852
Machinery, equipment, and other    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost $ 3,786,449 $ 3,424,070
v3.23.3
Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Sep. 30, 2022
Accounting Policies [Abstract]    
Accrual for estimated customer sales returns $ 1,314.9 $ 1,532.1
v3.23.3
Summary of Significant Accounting Policies - Shipping and Handling Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Shipping and Handling [Line Items]      
Distribution, selling, and administrative $ 5,309,984 $ 4,848,962 $ 3,594,251
Shipping and Handling      
Shipping and Handling [Line Items]      
Distribution, selling, and administrative $ 1,200,000 $ 1,040,800 $ 809,300
v3.23.3
Acquisitions and Equity Method Investment - Additional Information (Details)
 1 Months Ended 12 Months Ended
Jan. 02, 2023
USD ($)
Jun. 01, 2022
USD ($)
Jun. 01, 2021
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Jan. 01, 2023
USD ($)
country
Asset Acquisition, Contingent Consideration [Line Items]                
Goodwill         $ 9,574,117,000 $ 8,503,886,000 $ 9,030,531,000  
Net cash paid         1,409,835,000 133,814,000 5,563,040,000  
Purchase accounting adjustments           27,186,000    
Restructuring and employee severance costs         139,683,000 119,561,000 116,969,000  
PharmaLex Acquisition                
Asset Acquisition, Contingent Consideration [Line Items]                
Purchase price $ 1,473,000,000              
Cash holdback               $ 29,300,000
Operating countries (over) | country               30
Cash and cash equivalents               $ 37,400,000
Goodwill               1,023,100,000
Deferred tax liabilities               $ 146,000,000
OneOncology                
Asset Acquisition, Contingent Consideration [Line Items]                
Goodwill       $ 340,000,000        
Deferred tax liabilities       20,500,000        
Business acquisition, difference between carrying amount and underlying equity       625,200,000        
Intangibles assets       $ 305,600,000        
Weighted-average life       23 years        
OneOncology | OneOncology                
Asset Acquisition, Contingent Consideration [Line Items]                
Investment in specialty joint venture       $ 718,400,000        
Other liabilities       807,200,000 $ 872,900,000      
OneOncology | OneOncology | The Company and TPG                
Asset Acquisition, Contingent Consideration [Line Items]                
Investment in specialty joint venture       $ 2,100,000,000        
Share price multiplier       19        
Threshold period       12 months        
OneOncology | OneOncology | OneOncology                
Asset Acquisition, Contingent Consideration [Line Items]                
Ownership percentage       34.90%        
WBA Alliance Healthcare                
Asset Acquisition, Contingent Consideration [Line Items]                
Purchase price   $ 6,897,161,000            
Cash and cash equivalents   921,995,000            
Goodwill   2,496,338,000            
Deferred tax liabilities   760,937,000            
Cash   6,662,020,000 $ 6,662,000,000          
Equity (2 million shares of Cencora, Inc. common stock)   229,080,000 $ 229,100,000          
Equity issued (in shares) | shares     2,000,000          
Share price (in usd per share) | $ / shares     $ 114.54          
Other equity consideration   6,061,000 $ 6,100,000          
Net cash paid   5,596,717,000 5,596,700,000          
Acquired cash and cash equivalents     922,000,000          
Restricted cash acquired   143,308,000 143,300,000          
Treasury stock reissued     149,100,000          
Accrued consideration           96,900,000    
Settled           60,000,000    
Purchase accounting adjustments   53,000,000       $ (36,900,000)    
Working capital adjustments   102,700,000            
Increased in the deferred tax assets   63,000,000            
Decreased other assets   13,300,000            
Goodwill expected to be deductible     0          
Noncontrolling interest   $ 185,164,000 $ 185,200,000          
Restructuring and employee severance costs             $ 90,900,000  
Alliance Healthcare Egypt                
Asset Acquisition, Contingent Consideration [Line Items]                
Ownership percentage     50.00%          
v3.23.3
Acquisitions and Equity Method Investment - Fair Value Of Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 02, 2023
Jun. 01, 2021
PharmaLex Acquisition    
Finite-Lived Intangible Assets [Line Items]    
Fair Value $ 558,898  
PharmaLex Acquisition | Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Fair Value $ 522,634  
Weighted-Average Useful Life 12 years  
PharmaLex Acquisition | Trade names    
Finite-Lived Intangible Assets [Line Items]    
Fair Value $ 30,931  
Weighted-Average Useful Life 5 years  
PharmaLex Acquisition | Software technology    
Finite-Lived Intangible Assets [Line Items]    
Fair Value $ 5,333  
Weighted-Average Useful Life 6 years  
WBA Alliance Healthcare    
Finite-Lived Intangible Assets [Line Items]    
Fair Value   $ 3,735,000
WBA Alliance Healthcare | Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Fair Value   $ 3,327,000
Weighted-Average Useful Life   18 years
WBA Alliance Healthcare | Trade names    
Finite-Lived Intangible Assets [Line Items]    
Fair Value   $ 408,000
Weighted-Average Useful Life   11 years
v3.23.3
Acquisitions and Equity Method Investment - Assets And Liabilities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 01, 2022
Jun. 01, 2021
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Recognized amounts of identifiable assets acquired and liabilities assumed          
Goodwill     $ 9,574,117 $ 8,503,886 $ 9,030,531
Net cash paid     $ 1,409,835 $ 133,814 $ 5,563,040
WBA Alliance Healthcare          
Business Acquisition [Line Items]          
Cash $ 6,662,020 $ 6,662,000      
Equity (2 million shares of Cencora, Inc. common stock) 229,080 229,100      
Other equity consideration 6,061 6,100      
Fair value of total consideration 6,897,161        
Recognized amounts of identifiable assets acquired and liabilities assumed          
Cash and cash equivalents 921,995        
Accounts receivable 3,628,056        
Inventories 1,647,330        
Prepaid expenses and other 355,030        
Property and equipment 634,220        
Goodwill 2,496,338        
Other intangible assets 3,735,000        
Deferred income taxes 33,922        
Other assets 534,393        
Total assets acquired 13,986,284        
Accounts payable (4,618,807)        
Accrued expenses and other (765,463)        
Short-term debt (353,420)        
Deferred income taxes (760,937)        
Other liabilities (405,332)        
Total liabilities assumed (6,903,959)        
Net assets acquired 7,082,325        
Noncontrolling interest (185,164) (185,200)      
Equity consideration (235,141)        
Cash acquired, including restricted cash of $143,308 included in Prepaid Expenses and Other (1,065,303)        
Net cash paid 5,596,717 $ 5,596,700      
Equity issued (in shares)   2,000,000      
Restricted cash acquired $ 143,308 $ 143,300      
v3.23.3
Variable Interest Entity - Schedule of Assets and Liabilities of Profarma (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Variable Interest Entity [Line Items]        
Cash and cash equivalents $ 2,752,889 $ 3,593,539 $ 3,070,128 $ 4,597,746
Inventories 17,454,768 15,556,394    
Property and equipment, net 2,135,171 2,135,003    
Other long-term assets 3,418,182 1,761,661    
TOTAL ASSETS 62,558,746 56,560,616    
Long-term debt 4,787,457 5,702,833    
Deferred income taxes 1,657,944 1,620,413    
Other long-term liabilities 1,884,733 976,583    
Profarma        
Variable Interest Entity [Line Items]        
Cash and cash equivalents 33,256 23,144    
Accounts receivables, net 253,419 192,930    
Inventories 255,801 207,858    
Prepaid expenses and other 63,327 63,982    
Property and equipment, net 42,759 35,554    
Other intangible assets 62,384 66,568    
Other long-term assets 77,889 71,327    
TOTAL ASSETS 788,835 661,363    
Accounts payable 300,875 215,515    
Accrued expenses and other 56,280 47,952    
Short-term debt 73,650 60,851    
Long-term debt 74,132 64,918    
Deferred income taxes 22,701 25,801    
Other long-term liabilities 54,691 52,417    
Total liabilities $ 582,329 $ 467,454    
v3.23.3
Income Taxes - Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Income Tax Disclosure [Abstract]      
Domestic $ 1,418,457 $ 1,351,696 $ 1,495,899
Foreign 742,379 831,361 725,960
Income before income taxes $ 2,160,836 $ 2,183,057 $ 2,221,859
v3.23.3
Income Taxes - Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Current provision:      
Federal $ 259,126 $ 126,969 $ 184,375
State and local 42,933 39,282 30,659
Foreign 245,065 154,082 127,351
Total current provision 547,124 320,333 342,385
Deferred (benefit) provision:      
Federal (15,600) 150,328 111,428
State and local 19,445 31,129 47,516
Foreign (122,709) 14,727 175,922
Total deferred (benefit) provision (118,864) 196,184 334,866
Provision for income taxes $ 428,260 $ 516,517 $ 677,251
v3.23.3
Income Taxes - Tax Rate Reconciliation (Details)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Effective Income Tax Rate Reconciliation [Line Items]      
Statutory U.S. federal income tax rate 21.00% 21.00% 21.00%
State and local income tax rate, net of federal tax benefit 2.30% 2.50% 2.80%
Tax effect of foreign operations (2.40%) (1.90%) (0.50%)
Tax law changes (0.50%) 0.00% 7.30%
Other, net (0.60%) 2.10% (0.10%)
Effective income tax rate 19.80% 23.70% 30.50%
Foreign | UK      
Effective Income Tax Rate Reconciliation [Line Items]      
Tax law changes     5.70%
Foreign | Swiss      
Effective Income Tax Rate Reconciliation [Line Items]      
Tax law changes     1.60%
v3.23.3
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Operating Loss Carryforwards [Line Items]        
Deferred tax expense     $ 127,600  
Deferred tax asset $ 425,898 $ 446,605    
Valuation allowance for deferred tax assets 637,403 617,259    
Valuation allowance - increase 20,100 78,700    
Excess tax benefit from the exercise of stock options and lapses of restricted stock units 24,600 13,400 8,200  
Income tax payments, net of refunds 463,100 244,400 $ 93,500  
Undistributed earnings of international subsidiaries 3,900,000      
Permanently reinvested cumulative undistributed earnings 2,100,000      
Unrecognized tax benefits, including interest and penalties 551,900 553,200    
Unrecognized tax benefits, including interest and penalties, net of federal benefit 482,700 479,600    
Unrecognized tax benefits that would impact effective tax rate 464,400 461,400    
Unrecognized tax benefits, interest and penalties 25,900 $ 26,700    
Reduction of unrecognized tax benefits reasonably possible 9,000      
Federal        
Operating Loss Carryforwards [Line Items]        
Potential tax benefits from net operating loss carryforwards 114,100      
Foreign        
Operating Loss Carryforwards [Line Items]        
Potential tax benefits from net operating loss carryforwards 322,000      
Foreign | Alternative minimum tax credit carryforwards        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforwards 3,100      
State        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforwards 6,400      
Swiss        
Operating Loss Carryforwards [Line Items]        
Reduced tax rate for a period (in years)       10 years
Deferred tax asset 425,900      
Swiss | Swiss federal tax reforms        
Operating Loss Carryforwards [Line Items]        
Valuation allowance for deferred tax assets $ 235,900      
v3.23.3
Income Taxes - Significant Components of Deferred Tax Liabilities (Assets) (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Components of Deferred Tax Assets and Liabilities [Abstract]    
Inventories $ 1,475,467 $ 1,471,064
Property and equipment 145,308 149,896
Goodwill and other intangible assets 1,242,466 1,184,477
Right-of-use assets 255,221 219,616
Other 51,490 61,148
Gross deferred tax liabilities 3,169,952 3,086,201
Net operating loss and tax credit carryforwards (532,851) (426,651)
Allowance for credit losses (18,221) (67,788)
Accrued expenses (18,108) (24,435)
Accrued litigation liability (909,256) (981,627)
Employee and retiree benefits (22,927) (22,682)
Goodwill and other intangible assets (425,898) (446,605)
Lease liabilities (280,550) (241,469)
Share-based compensation (23,087) (33,933)
Other (119,180) (75,428)
Gross deferred tax assets (2,350,078) (2,320,618)
Valuation allowance for deferred tax assets 637,403 617,259
Deferred tax assets, net of valuation allowance (1,712,675) (1,703,359)
Net deferred tax liabilities $ 1,457,277 $ 1,382,842
v3.23.3
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits at beginning of period $ 526,522 $ 500,399 $ 478,351
Additions of tax positions of the current year 22,646 21,074 20,515
Additions to tax positions of the prior years 11,875 5,073 17,022
Reductions of tax positions of the prior years (31,110) 0 0
Settlements and expiration of statutes of limitations (3,457) (24) (15,489)
Effects of foreign currency translation (543) 0 0
Unrecognized tax benefits at end of period $ 525,933 $ 526,522 $ 500,399
v3.23.3
Goodwill and Other Intangible Assets - Changes in Carrying Value of Goodwill (Details) - USD ($)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Goodwill [Roll Forward]      
Beginning balance $ 8,503,886,000 $ 9,030,531,000  
Purchase accounting adjustments   27,186,000  
Goodwill recognized in connection with acquisitions 1,026,440,000 26,143,000  
Goodwill derecognized in connection with divestiture (14,424,000) (1,224,000)  
Goodwill impairment 0 (75,936,000) $ (6,373,000)
Foreign currency translation 58,215,000 (502,814,000)  
Ending balance 9,574,117,000 8,503,886,000 9,030,531,000
U.S. Healthcare Solutions      
Goodwill [Roll Forward]      
Beginning balance 6,280,240,000 6,260,374,000  
Purchase accounting adjustments   0  
Goodwill recognized in connection with acquisitions 0 26,143,000  
Goodwill derecognized in connection with divestiture 0 (1,224,000)  
Goodwill impairment   0  
Foreign currency translation 2,177,000 (5,053,000)  
Ending balance 6,282,417,000 6,280,240,000 6,260,374,000
International Healthcare Solutions      
Goodwill [Roll Forward]      
Beginning balance 2,223,646,000 2,770,157,000  
Purchase accounting adjustments   27,186,000  
Goodwill recognized in connection with acquisitions 1,026,440,000 0  
Goodwill derecognized in connection with divestiture (14,424,000) 0  
Goodwill impairment   (75,936,000)  
Foreign currency translation 56,038,000 (497,761,000)  
Ending balance $ 3,291,700,000 $ 2,223,646,000 $ 2,770,157,000
v3.23.3
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Aug. 30, 2023
Jan. 31, 2023
Indefinite-lived Intangible Assets [Line Items]          
Goodwill impairment $ 0 $ 75,936,000 $ 6,373,000    
Amortization expense 553,563,000 307,300,000 $ 178,348,000    
2024 669,100,000        
2025 502,600,000        
2026 348,700,000        
2027 291,500,000        
2028 281,400,000        
Thereafter 2,321,300,000        
Trade names          
Indefinite-lived Intangible Assets [Line Items]          
Indefinite-lived trade names (17,000,000) (667,932,000)      
Trade names | Reclassification, Name Change          
Indefinite-lived Intangible Assets [Line Items]          
Indefinite-lived trade names       $ 651,000,000  
Trade names and other          
Indefinite-lived Intangible Assets [Line Items]          
Finite-lived trade names $ 782,892,000 $ 370,219,000      
Trade names 4 years        
Trade names and other | Reclassification, Name Change          
Indefinite-lived Intangible Assets [Line Items]          
Finite-lived trade names         $ 651,000,000
Minimum | Trade names and other          
Indefinite-lived Intangible Assets [Line Items]          
Trade names       1 year  
Maximum | Trade names and other          
Indefinite-lived Intangible Assets [Line Items]          
Trade names       3 years  
v3.23.3
Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Finite-Lived    
Accumulated Amortization $ (1,655,103) $ (1,104,088)
Intangible Assets    
Gross Carrying Amount 6,086,886 5,436,825
Net Carrying Amount 4,431,783 4,332,737
Trade name    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived trade names $ 17,000 667,932
Customer relationships    
Finite-Lived    
Weighted Average Remaining Useful Life 14 years  
Gross Carrying Amount $ 4,845,091 4,226,547
Accumulated Amortization (1,213,200) (931,961)
Net Carrying Amount $ 3,631,891 3,294,586
Trade names and other    
Finite-Lived    
Weighted Average Remaining Useful Life 4 years  
Gross Carrying Amount $ 1,224,795 542,346
Accumulated Amortization (441,903) (172,127)
Net Carrying Amount $ 782,892 $ 370,219
v3.23.3
Debt - Debt Instruments (Details)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
GBP (£)
Mar. 31, 2023
USD ($)
Sep. 30, 2022
USD ($)
Debt Instrument [Line Items]        
Total debt $ 4,787,457,000     $ 5,702,833,000
Total, net of current portion 4,146,113,000     4,632,360,000
Cencora, Inc.        
Debt Instrument [Line Items]        
Less nonrecourse current portion 499,677,000     672,736,000
Multi-currency revolving credit facility due 2028        
Debt Instrument [Line Items]        
Maximum borrowing capacity 2,400,000,000      
Total debt 0     0
Receivables securitization facility due 2025        
Debt Instrument [Line Items]        
Maximum borrowing capacity 1,450,000,000      
Total debt 350,000,000     350,000,000
Revolving credit note        
Debt Instrument [Line Items]        
Maximum borrowing capacity 75,000,000      
Total debt 0     0
Overdraft facility due 2024 (£10,000)        
Debt Instrument [Line Items]        
Maximum borrowing capacity | £   £ 10,000,000    
Total debt 0     0
Money market facility        
Debt Instrument [Line Items]        
Maximum borrowing capacity 100,000,000      
Total debt $ 0     0
0.737% senior notes due 2023        
Debt Instrument [Line Items]        
Interest rate 0.737% 0.737% 0.737%  
Principal amount     $ 1,500,000,000  
Total debt $ 0     672,736,000
$500,000, 3.400% senior notes due 2024        
Debt Instrument [Line Items]        
Interest rate 3.40% 3.40%    
Principal amount $ 500,000,000      
Total debt $ 499,677,000     499,195,000
$500,000, 3.250% senior notes due 2025        
Debt Instrument [Line Items]        
Interest rate 3.25% 3.25%    
Principal amount $ 500,000,000      
Total debt $ 499,026,000     498,347,000
$750,000, 3.450% senior notes due 2027        
Debt Instrument [Line Items]        
Interest rate 3.45% 3.45%    
Principal amount $ 750,000,000      
Total debt $ 746,464,000     745,622,000
$500,000, 2.800% senior notes due 2030        
Debt Instrument [Line Items]        
Interest rate 2.80% 2.80%    
Principal amount $ 500,000,000      
Total debt $ 495,959,000     495,348,000
$1,000,000, 2.700% senior notes due 2031        
Debt Instrument [Line Items]        
Interest rate 0.027% 0.027%    
Principal amount $ 1,000,000,000      
Total debt $ 991,600,000     990,480,000
$500,000, 4.250% senior notes due 2045        
Debt Instrument [Line Items]        
Interest rate 4.25% 4.25%    
Principal amount $ 500,000,000      
Total debt $ 495,378,000     495,162,000
$500,000, 4.300% senior notes due 2047        
Debt Instrument [Line Items]        
Interest rate 4.30% 4.30%    
Principal amount $ 500,000,000      
Total debt 493,554,000     493,288,000
Alliance Healthcare debt        
Debt Instrument [Line Items]        
Total debt 68,017,000     336,886,000
Less nonrecourse current portion 68,017,000     336,886,000
Nonrecourse debt        
Debt Instrument [Line Items]        
Total debt 147,782,000     125,769,000
Less nonrecourse current portion $ 73,650,000     $ 60,851,000
v3.23.3
Debt - Additional Information (Details)
 1 Months Ended 12 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2023
GBP (£)
Jun. 30, 2021
USD ($)
Apr. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Feb. 28, 2021
USD ($)
Debt Instrument [Line Items]                      
Scheduled future principal payments, in fiscal 2024       $ 642,300,000              
Scheduled future principal payments, in fiscal 2025       535,900,000              
Scheduled future principal payments, in fiscal 2026       374,600,000              
Scheduled future principal payments, in fiscal 2027       12,100,000              
Scheduled future principal payments, in fiscal 2028       753,300,000              
Scheduled future principal payments, thereafter       2,500,000,000              
Interest paid       271,300,000 $ 219,800,000 $ 170,900,000          
Amortization of financing fees and accretion of original issue discounts       8,500,000 11,900,000 $ 9,700,000          
Multi-currency revolving credit facility due 2028                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity       $ 2,400,000,000              
Facility fee       0.10%              
Multi-currency revolving credit facility due 2028 | Minimum                      
Debt Instrument [Line Items]                      
Facility fee       0.07%              
Multi-currency revolving credit facility due 2028 | Maximum                      
Debt Instrument [Line Items]                      
Facility fee       0.15%              
Multi-currency revolving credit facility due 2028 | SOFR / EURIBOR / CDOR / RFR                      
Debt Instrument [Line Items]                      
Variable rate spread       1.025%              
Multi-currency revolving credit facility due 2028 | SOFR / EURIBOR / CDOR / RFR | Minimum                      
Debt Instrument [Line Items]                      
Variable rate spread       0.805%              
Multi-currency revolving credit facility due 2028 | SOFR / EURIBOR / CDOR / RFR | Maximum                      
Debt Instrument [Line Items]                      
Variable rate spread       1.225%              
Multi-currency revolving credit facility due 2028 | Alternate base rate and Canadian prime rate | Minimum                      
Debt Instrument [Line Items]                      
Variable rate spread       0.00%              
Multi-currency revolving credit facility due 2028 | Alternate base rate and Canadian prime rate | Maximum                      
Debt Instrument [Line Items]                      
Variable rate spread       0.225%              
Commercial paper                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity       $ 2,400,000,000              
Debt instrument, term       365 days              
Amount outstanding       $ 0 0            
Receivables securitization facility due 2025                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity       1,450,000,000              
Potential increase in receivables securitization facility       250,000,000              
Revolving credit note                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity       75,000,000              
Overdraft facility due 2024 (£10,000)                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity | £             £ 10,000,000        
Money market facility                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity       $ 100,000,000              
Term Loan Due February 2021                      
Debt Instrument [Line Items]                      
Maximum borrowing capacity                 $ 500,000,000   $ 1,000,000,000
Principal amount               $ 500,000,000      
Repayments of debt   $ 250,000,000 $ 250,000,000                
0.737% senior notes due 2023                      
Debt Instrument [Line Items]                      
Principal amount $ 1,500,000,000                    
Repayments of debt $ 675,000,000       $ 850,000,000            
Interest rate 0.737%     0.737%     0.737%        
0.737% senior notes due 2023 | Notes Payable to Banks                      
Debt Instrument [Line Items]                      
Principal amount                   $ 1,525,000,000  
Interest rate                   0.737%  
Percentage of principal amount                   100.00%  
$1,000,000, 2.700% senior notes due 2031                      
Debt Instrument [Line Items]                      
Principal amount       $ 1,000,000,000              
Interest rate       0.027%     0.027%        
$1,000,000, 2.700% senior notes due 2031 | Notes Payable to Banks                      
Debt Instrument [Line Items]                      
Principal amount                   $ 1,000,000,000  
Interest rate                   2.70%  
Percentage of principal amount                   99.79%  
Effective yield percentage                   2.706%  
v3.23.3
Stockholders' Equity and Weighted Average Common Shares Outstanding - Additional Information (Details)
 2 Months Ended 12 Months Ended
Nov. 20, 2023
USD ($)
shares
Sep. 30, 2023
USD ($)
vote
$ / shares
shares
Sep. 30, 2022
USD ($)
$ / shares
shares
Sep. 30, 2021
USD ($)
shares
Mar. 31, 2023
USD ($)
May 31, 2022
USD ($)
May 31, 2020
USD ($)
Oct. 31, 2018
USD ($)
Equity, Class of Treasury Stock [Line Items]                
Common stock, authorized (in shares) | shares   600,000,000 600,000,000          
Common stock, par value (in usd per share) | $ / shares   $ 0.01 $ 0.01          
Preferred stock, authorized (in shares) | shares   10,000,000            
Preferred stock, par value (in usd per share) | $ / shares   $ 0.01            
Number of votes per share | vote   1            
Repurchase of common stock   $ 1,155,929,000 $ 512,091,000 $ 82,150,000        
Antidilutive securities excluded from computation of diluted earnings per share (in shares) | shares   94,000 101,000 97,000        
October 2018 Share Repurchase Program                
Equity, Class of Treasury Stock [Line Items]                
Authorized amount under share repurchase program               $ 1,000,000,000
Repurchase of common stock (in shares) | shares       600,000        
Repurchase of common stock       $ 55,500,000        
May 2020 Share Repurchase Program                
Equity, Class of Treasury Stock [Line Items]                
Authorized amount under share repurchase program             $ 500,000,000  
Repurchase of common stock (in shares) | shares     3,300,000 300,000        
Repurchase of common stock     $ 473,400,000 $ 26,600,000        
May 2022 Share Repurchase Program                
Equity, Class of Treasury Stock [Line Items]                
Authorized amount under share repurchase program           $ 1,000,000,000    
Repurchase of common stock (in shares) | shares   6,000,000 300,000          
Repurchase of common stock   $ 961,300,000 $ 38,700,000          
Shares repurchased, cash settled     $ 28,400,000          
May 2022 Share Repurchase Program | WBA Alliance Healthcare                
Equity, Class of Treasury Stock [Line Items]                
Repurchase of common stock (in shares) | shares   5,500,000            
Repurchase of common stock   $ 882,500,000            
March 2023 Share Repurchase Program                
Equity, Class of Treasury Stock [Line Items]                
Authorized amount under share repurchase program         $ 1,000,000,000      
Repurchase of common stock (in shares) | shares   1,000,000            
Repurchase of common stock   $ 191,000,000            
Availability remaining under program   $ 809,000,000            
March 2023 Share Repurchase Program | Subsequent Event                
Equity, Class of Treasury Stock [Line Items]                
Repurchase of common stock (in shares) | shares 1,700,000              
Repurchase of common stock $ 325,300,000              
March 2023 Share Repurchase Program | WBA Alliance Healthcare                
Equity, Class of Treasury Stock [Line Items]                
Repurchase of common stock (in shares) | shares   900,000            
Repurchase of common stock   $ 167,500,000            
March 2023 Share Repurchase Program | WBA Alliance Healthcare | Subsequent Event                
Equity, Class of Treasury Stock [Line Items]                
Repurchase of common stock (in shares) | shares 1,300,000              
Repurchase of common stock $ 250,000,000              
v3.23.3
Stockholders' Equity and Weighted Average Common Shares Outstanding - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Total accumulated other comprehensive loss $ 522,003 $ (211,559)
Total accumulated other comprehensive loss    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Total accumulated other comprehensive loss (1,402,607) (1,830,970)
Pension and postretirement adjustments    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Total accumulated other comprehensive loss 406 (9,038)
Foreign currency translation    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Total accumulated other comprehensive loss (1,402,245) (1,820,292)
Other    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Total accumulated other comprehensive loss $ (768) $ (1,640)
v3.23.3
Stockholders' Equity and Weighted Average Common Shares Outstanding - Components of Diluted Weighted Average Shares Outstanding (Details) - shares
shares in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Equity [Abstract]      
Weighted average common shares outstanding - basic (in shares) 202,511 208,472 205,919
Effect of dilutive securities - stock options and restricted stock units (in shares) 2,080 2,738 2,546
Weighted average common shares outstanding - diluted (in shares) 204,591 211,210 208,465
v3.23.3
Related Party Transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Related Party Transaction [Line Items]      
Revenue $ 262,173,411 $ 238,587,006 $ 213,988,843
Receivable from WBA 20,911,081 18,452,675  
Investor | WBA Alliance Healthcare      
Related Party Transaction [Line Items]      
Revenue 68,700,000 64,100,000 $ 65,500,000
Receivable from WBA $ 8,100,000 $ 7,000,000  
Investor | AmerisourceBergen | WBA Alliance Healthcare      
Related Party Transaction [Line Items]      
Ownership percentage (more than) 10.00%    
v3.23.3
Retirement and Other Benefit Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]      
Minimum allowed employee contributions, percent of salary 1.00%    
Maximum allowed employee contributions, percent of salary 50.00%    
Credited service (in years) 5 years    
Defined contribution plans expense $ 89.4 $ 90.1 $ 62.3
Annual cash compensation 4.00%    
Deferred compensation liability $ 39.3 $ 31.7  
Employee contribution, first 3% of salary      
Defined Benefit Plan Disclosure [Line Items]      
Employer matching contribution, percent of match 100.00%    
Employer matching contribution, percent of salary 3.00%    
Employee contribution, additional 2% of salary      
Defined Benefit Plan Disclosure [Line Items]      
Employer matching contribution, percent of match 50.00%    
Employer matching contribution, percent of salary 2.00%    
v3.23.3
Share-Based Compensation - Additional Information (Details) - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock option expense (credit)   $ 2.2 $ 4.6
Intrinsic value of stock option exercises $ 80.2 60.3 58.7
Total fair values of options vested $ 5.7 10.0 15.5
2022 Omnibus      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available for grant 22,800    
Employee options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Service period (in years) 4 years    
Vesting period (in years) 4 years    
Expiration period (in years) 7 years    
Non-employee options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Service period (in years) 3 years    
Vesting period (in years) 3 years    
Expiration period (in years) 10 years    
Restricted stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock expense $ 84.3 71.3 55.8
Total fair values of restricted shares vested $ 103.0 $ 58.1 31.1
Nonvested shares outstanding (in shares) 1,295 1,806  
Expected future compensation expense relating to restricted shares outstanding $ 71.8    
Weighted average period over which expected future compensation expense relating to restricted shares outstanding will be recognized 1 year 4 months 24 days    
Restricted stock units | Granted prior to fiscal 2021      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Restricted stock units | Granted beginning in fiscal 2022      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Performance stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Stock expense $ 40.4 $ 19.7 $ 38.9
Nonvested shares outstanding (in shares) 251 277  
Performance stock units | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percentage 0.00%    
Performance stock units | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percentage 200.00%    
v3.23.3
Share-Based Compensation - Stock Options (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Options    
Outstanding, beginning of period (in shares) 1,932  
Exercised (in shares) (895)  
Outstanding, end of period (in shares) 1,037 1,932
Exercisable, end of period (in shares) 941  
Expected to vest after end of period (in shares) 95  
Weighted Average Exercise Price    
Outstanding, beginning of period (in usd per share) $ 83  
Exercised (in usd per share) 81  
Outstanding, end of period (in usd per share) 85 $ 83
Exercisable, end of period (in usd per share) 85  
Expected to vest after end of period (in usd per share) $ 86  
Weighted Average Remaining Contractual Term    
Outstanding 2 years 3 years
Exercisable 2 years  
Expected to vest after end of period 3 years  
Aggregate Intrinsic Value    
Outstanding $ 98,147 $ 100,496
Exercisable 89,160  
Expected to vest after end of period $ 8,954  
v3.23.3
Share-Based Compensation - Nonvested Options (Details)
shares in Thousands
 12 Months Ended
Sep. 30, 2023
$ / shares
shares
Options  
Nonvested, beginning of period (in shares) | shares 412
Vested (in shares) | shares (316)
Nonvested, end of period (in shares) | shares 96
Weighted Average Grant Date Fair Value  
Nonvested, beginning of period (in usd per share) | $ / shares $ 18
Vested (in usd per share) | $ / shares 18
Nonvested, end of period (in usd per share) | $ / shares $ 17
v3.23.3
Share-Based Compensation - Nonvested Restricted Stock Units (Details) - Restricted stock units
shares in Thousands
 12 Months Ended
Sep. 30, 2023
$ / shares
shares
Restricted Stock Units  
Nonvested, beginning of period (in shares) | shares 1,806
Granted (in shares) | shares 684
Vested (in shares) | shares (1,032)
Forfeited (in shares) | shares (163)
Nonvested, end of period (in shares) | shares 1,295
Weighted Average Grant Date Fair Value  
Nonvested, beginning of period (in usd per share) | $ / shares $ 108
Granted (in usd per share) | $ / shares 158
Vested (in usd per share) | $ / shares 100
Forfeited (in usd per share) | $ / shares 132
Nonvested, end of period (in usd per share) | $ / shares $ 139
v3.23.3
Share-Based Compensation - Nonvested Performance Stock Units (Details) - Performance stock units
shares in Thousands
 12 Months Ended
Sep. 30, 2023
$ / shares
shares
Performance Stock Units  
Nonvested, beginning of period (in shares) | shares 277
Granted (in shares) | shares 126
Vested (in shares) | shares (144)
Forfeited (in shares) | shares (8)
Nonvested, end of period (in shares) | shares 251
Weighted Average Grant Date Fair Value  
Nonvested, beginning of period (in usd per share) | $ / shares $ 117
Granted (in usd per share) | $ / shares 158
Vested (in usd per share) | $ / shares 110
Forfeited (in usd per share) | $ / shares 129
Nonvested, end of period (in usd per share) | $ / shares $ 142
v3.23.3
Leases - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Leases [Abstract]      
Operating lease cost $ 234,567 $ 220,935 $ 161,054
Short-term lease cost 9,799 11,257 5,901
Variable lease cost 25,598 25,108 14,208
Total lease cost $ 269,964 $ 257,300 $ 181,163
v3.23.3
Leases - Summary of Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Right of use assets    
Other assets $ 1,019,368 $ 944,974
Lease liabilities    
Accrued expenses and other 182,462 158,184
Other long-term liabilities 924,247 864,288
Total lease liabilities $ 1,106,709 $ 1,022,472
Weighted-average remaining lease term 7 years 10 months 6 days 8 years 4 months 13 days
Weighted-average discount rate 4.66% 3.22%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other long-term assets Other long-term assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued Liabilities, Current Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other long-term liabilities Other long-term liabilities
v3.23.3
Leases - Other Cash Flow Information related to Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities      
Operating lease cash payments $ 229,203 $ 214,793 $ 148,385
Right-of-use assets obtained in exchange for lease liabilities      
New operating leases $ 271,096 $ 179,214 $ 770,858
v3.23.3
Leases - Future Minimum Rental Payments Under Noncancelable Operating Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
Leases [Abstract]    
2024 $ 218,139  
2025 197,174  
2026 176,328  
2027 150,738  
2028 129,808  
Thereafter 441,242  
Total future undiscounted lease payments 1,313,429  
Less: Future payments for leases that have not yet commenced (2,839)  
Less: Imputed interest (203,881)  
Total lease liabilities $ 1,106,709 $ 1,022,472
v3.23.3
Restructuring and Other Expenses - Schedule of Restructuring and Other Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Restructuring and Related Activities [Abstract]      
Restructuring and employee severance costs $ 105,220 $ 35,316 $ 46,064
Business transformation efforts 82,117 27,990 36,255
Other expenses 42,547 192 0
Total $ 229,884 $ 63,498 $ 82,319
v3.23.3
Restructuring and Other Expenses - Additional Information (Details) - Cybersecurity Event
 1 Months Ended
Mar. 31, 2023
businessUnit
country
Loss Contingencies [Line Items]  
Number of business unit | businessUnit 1
Operating countries (over) | country 1
Impact period 14 days
v3.23.3
Legal Matters and Contingencies (Details)
$ in Thousands
 18 Months Ended
Sep. 30, 2023
USD ($)
distributor
claim
state
Sep. 30, 2022
USD ($)
Loss Contingencies [Line Items]    
Accrued litigation liability $ 5,061,795 $ 5,461,758
Multidistrict Litigation (MDL) | Pending Litigation    
Loss Contingencies [Line Items]    
Number of pending claims | claim 2,000  
Multidistrict Litigation and Other Related State Court Litigation | Settled Litigation    
Loss Contingencies [Line Items]    
Loss contingency, damages awarded, value $ 6,400,000  
Legal settlement term (in years) 18 years  
National distributors | distributor 3  
Multidistrict Litigation and Other Related State Court Litigation | Three Largest National Distributors | Settled Litigation    
Loss Contingencies [Line Items]    
Settling States | state 48  
Settlement percent of population 99.00%  
Multidistrict Litigation (MDL), Bellwether Cases | Pending Litigation    
Loss Contingencies [Line Items]    
Number of pending claims | claim 4  
Opioid Lawsuits and Investigations    
Loss Contingencies [Line Items]    
Total liability accrual $ 5,500,000 $ 6,000,000
Current estimate recorded in accrued expenses and other 407,500  
Accrued litigation liability $ 5,100,000  
v3.23.3
Litigation Settlements (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Litigation Settlement [Abstract]      
Gains from antitrust litigation settlements $ 239.1 $ 1.8 $ 168.8
v3.23.3
Business Segment Information - Additional Information (Details)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
USD ($)
segment
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | segment 2    
Litigation and opioid-related (credit) expenses $ (24,693) $ 123,191 $ 272,623
Gain (loss) on disposition of business 40,665 56,228 0
Gain on revaluation of equity investment 242 4,834 64,721
Segment reconciling items      
Segment Reporting Information [Line Items]      
Litigation and opioid-related (credit) expenses (24,693) $ 123,191 $ 272,623
Segment reconciling items | H.D. Smith Opioid Litigation Indemnity Escrow      
Segment Reporting Information [Line Items]      
Litigation and opioid-related (credit) expenses $ (83,400)    
v3.23.3
Business Segment Information - Segment Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting Information [Line Items]      
Revenue $ 262,173,411 $ 238,587,006 $ 213,988,843
Operating segments | U.S. Healthcare Solutions      
Segment Reporting Information [Line Items]      
Revenue 234,759,218 212,100,202 202,461,545
Operating segments | U.S. Healthcare Solutions | Human Health      
Segment Reporting Information [Line Items]      
Revenue 229,716,669 207,284,444 197,777,128
Operating segments | U.S. Healthcare Solutions | Animal Health      
Segment Reporting Information [Line Items]      
Revenue 5,042,549 4,815,758 4,684,417
Operating segments | International Healthcare Solutions      
Segment Reporting Information [Line Items]      
Revenue 27,418,679 26,491,673 11,529,629
Operating segments | International Healthcare Solutions | Alliance Healthcare      
Segment Reporting Information [Line Items]      
Revenue 22,349,278 21,890,402 7,373,365
Operating segments | International Healthcare Solutions | Other Healthcare Solutions      
Segment Reporting Information [Line Items]      
Revenue 5,069,401 4,601,271 4,156,264
Intersegment eliminations      
Segment Reporting Information [Line Items]      
Revenue $ (4,486) $ (4,869) $ (2,331)
v3.23.3
Business Segment Information - Segment Operating Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting Information [Line Items]      
Operating income $ 2,340,731 $ 2,366,378 $ 2,354,197
Total depreciation and amortization 963,904 693,895 505,172
Total capital expenditures 458,359 496,318 438,217
U.S. Healthcare Solutions      
Segment Reporting Information [Line Items]      
Total capital expenditures 268,069 295,406 310,525
International Healthcare Solutions      
Segment Reporting Information [Line Items]      
Total capital expenditures 190,290 200,912 127,692
Operating segments      
Segment Reporting Information [Line Items]      
Operating income 3,289,121 3,163,430 2,648,204
Operating segments | U.S. Healthcare Solutions      
Segment Reporting Information [Line Items]      
Operating income 2,596,559 2,456,972 2,257,918
Total depreciation and amortization 292,814 274,554 266,575
Operating segments | International Healthcare Solutions      
Segment Reporting Information [Line Items]      
Operating income 692,562 706,458 390,286
Total depreciation and amortization 120,044 114,790 62,376
Segment reconciling items      
Segment Reporting Information [Line Items]      
Acquisition-related intangibles amortization $ 551,046 $ 304,551 $ 176,221
v3.23.3
Business Segment Information - Reconciliation of Total Segment Operating Income to Income from Continuing Operations before Income Taxes (Details) - USD ($)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Total segment operating income $ 2,340,731,000 $ 2,366,378,000 $ 2,354,197,000
Gains from antitrust litigation settlements 239,100,000 1,800,000 168,800,000
LIFO (expense) credit (204,595,000) (67,171,000) 203,028,000
Litigation and opioid-related credit (expenses) 24,693,000 (123,191,000) (272,623,000)
Acquisition-related deal and integration expenses (139,683,000) (119,561,000) (116,969,000)
Restructuring and other expenses (229,884,000) (63,498,000) (82,319,000)
Goodwill impairment 0 (75,936,000) (6,373,000)
Impairment of assets 0 (4,946,000) (11,324,000)
Other income, net (49,036,000) (27,352,000) (41,736,000)
Interest expense, net 228,931,000 210,673,000 174,074,000
Income before income taxes 2,160,836,000 2,183,057,000 2,221,859,000
Operating segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Total segment operating income 3,289,121,000 3,163,430,000 2,648,204,000
Segment reconciling items      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Gains from antitrust litigation settlements 239,092,000 1,835,000 168,794,000
LIFO (expense) credit (204,595,000) (67,171,000) 203,028,000
Turkey highly inflationary impact (86,967,000) (40,033,000) 0
Acquisition-related intangibles amortization (551,046,000) (304,551,000) (176,221,000)
Litigation and opioid-related credit (expenses) 24,693,000 (123,191,000) (272,623,000)
Acquisition-related deal and integration expenses (139,683,000) (119,561,000) (116,969,000)
Restructuring and other expenses (229,884,000) (63,498,000) (82,319,000)
Goodwill impairment 0 (75,936,000) (6,373,000)
Impairment of assets $ 0 $ (4,946,000) $ (11,324,000)
v3.23.3
Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Sep. 30, 2022
Fair value | Level 1 | Money market accounts    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Cash and cash equivalents $ 1,489.0 $ 1,602.0
Fair value | Level 2    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Long-term debt 3,572.6 4,130.3
Carrying amount    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Long-term debt $ 4,146.1 $ 4,632.4
v3.23.3
Subsequent Event (Details) - Subsequent Event
 1 Months Ended
Nov. 21, 2023
$ / shares
Subsequent Event [Line Items]  
Dividend increase percentage 5.00%
Quarterly cash dividend declared (in usd per share) $ 0.51
v3.23.3
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowances for returns and doubtful accounts - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of period $ 1,626,729 $ 1,356,684 $ 1,417,308
Charged to costs and expenses 4,846,067 5,124,081 3,906,776
Deductions (5,039,400) (4,854,036) (3,967,400)
Balance at end of period $ 1,433,396 $ 1,626,729 $ 1,356,684