Borrowings (Tables)

3 Months Ended

Nov. 30, 2016

Borrowings [Abstract]

Short-Term Borrowings

Borrowings consist of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted)

	November 30, 2016		August 31, 2016
Short-Term Borrowings(1)
1.750% unsecured notes due 2017(5)(7)	$	748	$	-
Unsecured Pound Sterling variable rate term loan due 2019		68		63
Other(2)		279		260
Total short-term borrowings	$	1,095	$	323

Long-Term Debt

Long-Term Debt(1)
Unsecured Pound Sterling variable rate term loan due 2019	$	1,735	$	1,833
$6 Billion Note Issuance(5)(7)
1.750% unsecured notes due 2018		1,247		1,246
2.600% unsecured notes due 2021		1,493		1,493
3.100% unsecured notes due 2023		745		744
3.450% unsecured notes due 2026		1,886		1,885
4.650% unsecured notes due 2046		590		590
$8 Billion Note Issuance(5)(7)
1.750% unsecured notes due 2017		-		746
2.700% unsecured notes due 2019		1,245		1,244
3.300% unsecured notes due 2021		1,242		1,242
3.800% unsecured notes due 2024		1,987		1,987
4.500% unsecured notes due 2034		494		494
4.800% unsecured notes due 2044		1,492		1,492
£700 Million Note Issuance(1)(5)(7)
2.875% unsecured Pound Sterling notes due 2020		495		521
3.600% unsecured Pound Sterling notes due 2025		371		391
€750 Million Note Issuance(1)(5)(7)
2.125% unsecured Euro notes due 2026		790		830
$4 Billion Note Issuance(6)(7)
3.100% unsecured notes due 2022		1,194		1,194
4.400% unsecured notes due 2042		492		492
$1 Billion Note Issuance(6)(7)
5.250% unsecured notes due 2019(3)		249		249
Other(4)		30		32
Total long-term debt, less current portion	$	17,777	$	18,705

⁽¹⁾ All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively.

⁽²⁾ Other short-term borrowings represent a mix of fixed and variable rate borrowings with various maturities and working capital facilities denominated in various foreign currencies.

⁽³⁾ Includes interest rate swap fair market value adjustments. See Note 8, Fair Value Measurements for additional fair value disclosures.

⁽⁴⁾ Other long-term debt represents a mix of fixed and variable rate borrowings in various foreign currencies with various maturities.

⁽⁵⁾ Notes are unsubordinated debt obligations of Walgreens Boots Alliance and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance from time to time outstanding.

⁽⁶⁾ Notes are senior debt obligations of Walgreens and rank equally with all other unsecured and unsubordinated indebtedness of Walgreens. On December 31, 2014, Walgreens Boots Alliance fully and unconditionally guaranteed the outstanding notes on an unsecured and unsubordinated basis. The guarantee, for so long as it is in place, is an unsecured, unsubordinated debt obligation of Walgreens Boots Alliance and will rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance.

⁽⁷⁾ The fair value & carrying value of the $6 billion, $8 billion, £0.7 billion, €0.75 billion, $4 billion and $1 billion note issuances as of November 30, 2016 was $5.9 billion & $6.0 billion, $7.3 billion & $7.2 billion, $0.9 billion & $0.9 billion, $0.8 billion & $0.8 billion, $1.7 billion & $1.7 billion and $0.3 billion & $0.2 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the November 30, 2016 spot rate, as applicable.