XML 30 R19.htm IDEA: XBRL DOCUMENT

Income taxes	6 Months Ended
Income taxes	Feb. 28, 2021
Income Tax Disclosure [Abstract]
Income taxes	Income taxesThe effective tax rate for the three months ended February 28, 2021 was 4.4%, compared to 14.8% for the three months ended February 29, 2020. The decrease in the effective tax rate for the three months ended February 28, 2021 was primarily due to discrete tax benefits recorded from the reduction of a valuation allowance on net deferred tax assets and tax benefits from internal restructuring. The effective tax rate for the six months ended February 28, 2021 was a benefit of 48.6%, primarily due to the discrete tax effect of equity losses in AmerisourceBergen. The effective tax rate for the six months ended February 29, 2020 was an expense of 9.5%, primarily due to discrete tax benefits recorded from the reduction of a valuation allowance on net deferred tax assets. Income taxes paid for the six months ended February 28, 2021 were $175 million, compared to $592 million for the six months ended February 29, 2020. During the next twelve months, based on current knowledge, it is reasonably possible the amount of unrecognized tax benefits could decrease by up to $110 million due to anticipated U.S. federal income tax audit settlements. During the three months ended February 28, 2021, the Company recognized an increase in uncertain tax benefits, resulting in a reduction in deferred tax asset for capital loss carryforwards and corresponding valuation allowance.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details