Debt (Tables)

12 Months Ended

Aug. 31, 2023

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, 2023		August 31, 2022
Short-term debt
Credit facilities 1
November 2021 DDTL due February 2023	$	—	$	1,000
$850 million note issuance 1
0.9500% unsecured notes due 2023	850		—
Other 2	68		59
Total short-term debt	$	917	$	1,059

Schedule of Long-term Debt Instruments

Long-term debt
Credit facilities 1
November 2021 DDTL due November 2023	$	—	$	1,998
November 2021 DDTL due November 2024	289		999
December 2022 DDTL due January 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	793		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	1,156		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	381		354
€750 million note issuance 1
2.125% unsecured Euro notes due 2026	814		752
$4 billion note issuance 3
4.400% unsecured notes due 2042	263		263
Other 2	20		26
Total long-term debt, less current portion	$	8,145	$	10,615

1.Notes and borrowings under credit facilities 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.

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

3.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.

Schedule of future maturities of long-term debt

At August 31, 2023, the future maturities of short-term and long-term debt, excluding debt discounts, issuance costs and finance lease obligations (See Note 5. Leases, for the future lease payments), consisted of the following (in millions):

	Amount
2024	$	918
2025	1,451
2026	2,830
2027	815
2028	3
Later	3,074
Total estimated future maturities	$	9,092