Discontinued operations (Tables)

12 Months Ended

Aug. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedules of discontinued operations

The following table shows the fair value of proceeds from the Alliance Healthcare Sale and net carrying value of the assets disposed (in billions):

	2021
Fair value of proceeds from disposition 1	$	6.9
Net assets disposed	5.8
Gain before currency translation adjustments	1.1
Currency translation loss released due to disposition	(0.8)
Net gain on disposal of discontinued operation 2	$	0.3

1.Includes base consideration of $6.275 billion adjusted for net working capital and net cash adjustments as set forth in the Share Purchase Agreement.

2.The Company recorded insignificant amount of tax expense due to utilization of capital losses.

Results of discontinued operations for prior period were as follows (in millions):

	2021
Sales	$	16,070
Cost of sales	14,486
Gross profit	1,584
Selling, general and administrative expense 1	1,254
Operating income from discontinued operations	329
Other income, net 2	314
Interest expense, net	(23)
Earnings before income tax – discontinued operations	621
Income tax provision	78
Post-tax earnings from other equity method investments	15
Net earnings from discontinued operations	$	557

1.Includes $44 million of divestiture related costs incurred post completion of the Alliance Healthcare Sale.

2.Includes $322 million of gain on sale of discontinued operations.

Sales in prior years from the Disposal Group to the Company's continuing operations aggregate to (in millions):

	2021 1
Sales	$	1,385

1.Sales in fiscal 2021 until date of disposal.

The following table presents cash flows for discontinued operations in prior periods (in millions):

	2021
Cash used for operating activities - discontinued operations	$	(132)
Cash used for investing activities - discontinued operations	(58)