Debt (Tables)

9 Months Ended

May 31, 2023

Debt Disclosure [Abstract]

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):

	May 31, 2023		August 31, 2022
Short-term debt
Commercial paper 1	$	147	$	—
Credit facilities 1
Unsecured 364-day credit facility due 2023	—		1,000
Unsecured two-year credit facility due 2023	1,999		—
$850 million note issuance 1
0.9500% unsecured notes due 2023	849		—
Other 2	66		59
Total short-term debt	$	3,061	$	1,059
Long-term debt
Credit facilities 1
Unsecured two-year credit facility due 2023	$	—	$	1,998
Unsecured three-year credit facility due 2024	999		999
Unsecured three-year credit facility due 2026	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		498
4.100% unsecured notes due 2050	792		792
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,444		1,443
4.650% unsecured notes due 2046	318		318
$8 billion note issuance 1
3.800% unsecured notes due 2024	1,155		1,155
4.500% unsecured notes due 2034	301		301
4.800% unsecured notes due 2044	869		869
£700 million note issuance 1
3.600% unsecured pound sterling notes due 2025	373		354
€750 million note issuance 1
2.125% unsecured euro notes due 2026	808		752
$4 billion note issuance 3
4.400% unsecured notes due 2042	263		263
Other 2	22		26
Total long-term debt, less current portion	$	8,841	$	10,615

1Notes, borrowings under credit facilities and commercial paper are unsecured and 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.

2Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.

3Notes 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.

Long-Term Debt

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):

	May 31, 2023		August 31, 2022
Short-term debt
Commercial paper 1	$	147	$	—
Credit facilities 1
Unsecured 364-day credit facility due 2023	—		1,000
Unsecured two-year credit facility due 2023	1,999		—
$850 million note issuance 1
0.9500% unsecured notes due 2023	849		—
Other 2	66		59
Total short-term debt	$	3,061	$	1,059
Long-term debt
Credit facilities 1
Unsecured two-year credit facility due 2023	$	—	$	1,998
Unsecured three-year credit facility due 2024	999		999
Unsecured three-year credit facility due 2026	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		498
4.100% unsecured notes due 2050	792		792
$6 billion note issuance 1
3.450% unsecured notes due 2026	1,444		1,443
4.650% unsecured notes due 2046	318		318
$8 billion note issuance 1
3.800% unsecured notes due 2024	1,155		1,155
4.500% unsecured notes due 2034	301		301
4.800% unsecured notes due 2044	869		869
£700 million note issuance 1
3.600% unsecured pound sterling notes due 2025	373		354
€750 million note issuance 1
2.125% unsecured euro notes due 2026	808		752
$4 billion note issuance 3
4.400% unsecured notes due 2042	263		263
Other 2	22		26
Total long-term debt, less current portion	$	8,841	$	10,615

1Notes, borrowings under credit facilities and commercial paper are unsecured and 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.

2Other debt represents a mix of fixed and variable rate debt with various maturities and working capital facilities denominated in various currencies.

3Notes 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.