Equity Method Investments (Tables)

12 Months Ended

Aug. 31, 2015

Equity Method Investments [Abstract]

Equity Method Investment

Equity method investments as of August 31, 2015 and 2014 were as follows (in millions, except percentages):

	2015				2014
	Carrying Value		Ownership Percentage		Carrying Value		Ownership Percentage
Alliance Boots	$	NA		100%	$	7,336		45%
Other		1,242		12% - 50%		74		30% - 50%
Total	$	1,242			$	7,410

NA Not applicable

Summarized Financial Information of Equity Method Investees

Summarized financial information for the Company’s equity method investees is as follows:

Balance Sheets (in millions)

	At August 31,
	2015(1)		2014(1)
Current assets	$	5,015	$	9,074
Non-current assets		1,548		22,363
Current liabilities		3,936		9,372
Non-current liabilities		837		10,608
Shareholders’ equity (2)		1,790		11,457

Statements of Earnings (in millions)

	Year Ended August 31,
	2015(3)		2014(3)		2013(3)
Net sales	$	20,905	$	37,624	$	36,482
Gross Profit		3,794		8,109		7,632
Net Earnings		791		1,446		1,363
Share of earnings from equity method investments(3)		339		618		496

⁽¹⁾Net assets in foreign equity method investments are translated at their respective August 31, 2015 and 2014 spot rates.

⁽²⁾ Shareholders’ equity at August 31, 2015 and 2014 includes $163 million and $283 million respectively, related to noncontrolling interests.

⁽³⁾ Earnings in foreign equity method investments are translated at their respective average exchange rates.