Supplemental financial information

3 Months Ended

Nov. 30, 2017

Supplemental Cash Flow Elements [Abstract]

Supplemental financial information

Supplemental financial information

The effective tax rate for the three months ended November 30, 2017 was 21.9% compared to 17.3% for the prior year period. The increase in effective tax rate was primarily attributable to reduced discrete tax benefits in the current period. During the three months ended November 30, 2016, we recognized a discrete tax benefit of $77 million related to reducing our deferred tax liabilities, following enactment of a U.K. tax rate reduction. This benefit did not recur during the three months ended November 30, 2017. The impact of this non-recurrence was partly offset by additional net discrete tax benefits for the three months ended November 30, 2017, primarily related to our equity method investment in AmerisourceBergen. Cash paid for income taxes was $45 million and $63 million in the three months ended November 30, 2017 and 2016, respectively.

Interest paid was $217 million and $246 million for the three months ended November 30, 2017 and 2016, respectively.