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Debt (Tables)
 12 Months Ended
Aug. 31, 2022
Debt Disclosure [Abstract]  
Schedule of short-term borrowings Debt consists 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):
 August 31, 2022August 31, 2021
Short-term debt  
Credit facilities
Unsecured credit facility due 2023$1,000 $— 
$8 billion note issuance 1
3.300% unsecured notes due 2021 2
— 1,250 
Other 3
59 56 
Total short-term debt$1,059 $1,305 
Schedule of Long-term Debt Instruments
Long-term debt  
Credit facilities
Unsecured credit facility due 2023
$1,998 $— 
Unsecured credit facility due 2024
999 — 
$850 million note issuance 1
0.9500% unsecured notes due 2023
848 — 
$1.5 billion note issuance 1
3.200% unsecured notes due 2030
498 497 
4.100% unsecured notes due 2050 5
792 792 
$6 billion note issuance 1
3.450% unsecured notes due 2026 5
1,443 1,442 
4.650% unsecured notes due 2046 5
318 318 
$8 billion note issuance 1
3.800% unsecured notes due 2024 5
1,155 1,154 
4.500% unsecured notes due 2034 5
301 301 
4.800% unsecured notes due 2044 5
869 868 
£700 million note issuance 1
3.600% unsecured Pound Sterling notes due 2025
354 408 
€750 million note issuance 1
2.125% unsecured Euro notes due 2026
752 873 
$4 billion note issuance 4
3.100% unsecured notes due 2022 5
— 731 
4.400% unsecured notes due 2042 5
263 263 
Other 3
26 29 
Total long-term debt, less current portion$10,615 $7,675 
1.Notes are unsubordinated debt obligations of the Company and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of the Company from time to time outstanding.
2.On September 18, 2021, the Company redeemed in full the $1.25 billion aggregate principal amount outstanding of its 3.300% unsecured notes due 2021 issued by the Company on November 18, 2014.
3.Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.
4.Notes are senior debt obligations of Walgreen Co. and rank equally with all other unsecured and unsubordinated indebtedness of Walgreen Co. On December 31, 2014, the Company 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 the Company and will rank equally in right of payment with all other unsecured and unsubordinated indebtedness of the Company. On June 3, 2022, a notice of redemption was given to holders of the 3.100% notes due 2022. As a result, on July 5, 2022, the notes with aggregate principal amount of $731 million were redeemed in full.
5.On April 26, 2021, the Company entered into a cash tender offer to partially purchase and retire $3.3 billion of long term U.S. dollar denominated notes with a weighted average interest rate of 4.02%. The Company recognized a loss of $414 million related to the early extinguishment of debt, within Interest expense, which includes $386 million of redemption premium paid in cash. The cash payments related to the early extinguishment of debt are classified as cash outflows from financing activities in the Consolidated Statement of Cash Flows.
Schedule of future maturities of long-term debt At August 31, 2022, the future maturities of short-term and long-term debt, excluding debt discounts and issuance costs and finance lease obligations (See Note 5. Leases, for the future lease payments), consisted of the following (in millions):
Amount
2023$1,059 
20242,850 
20252,161 
20261,803 
2027754 
Later3,081 
Total estimated future maturities$11,708