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Supplemental information
 9 Months Ended
May 31, 2024
Supplemental Cash Flow Elements [Abstract]  
Supplemental information Supplemental information
Accounts receivable
Accounts receivable are stated net of allowances for doubtful accounts. Accounts receivable balances primarily consist of trade receivables due from customers, including amounts due from third party payors (e.g., pharmacy benefit managers, insurance companies and governmental agencies). Trade receivables were $4.8 billion and $4.3 billion at May 31, 2024 and August 31, 2023, respectively. Other accounts receivable balances, which consist primarily of receivables from vendors and manufacturers, including receivables from Cencora, were $1.2 billion and $1.1 billion at May 31, 2024 and August 31, 2023, respectively. See Note 16. Related parties for further information.

Depreciation and amortization
The Company has recorded the following depreciation and amortization expense in the Consolidated Condensed Statements of Earnings (in millions):
Three months ended May 31,Nine months ended May 31,
2024202320242023
Depreciation expense$369 $372 $1,120 $1,068 
Intangible assets amortization238 226 717 583 
Total depreciation and amortization expense$607 $598 $1,837 $1,652 

Accumulated depreciation and amortization on property, plant and equipment was $13.5 billion and $13.0 billion as at May 31, 2024 and August 31, 2023, respectively.

Restricted cash
The Company is required to maintain cash deposits with certain banks which consist of deposits restricted under contractual agency agreements and cash restricted by law and other obligations. The following represents a reconciliation of Cash and cash equivalents in the Consolidated Condensed Balance Sheets to total Cash, cash equivalents and restricted cash in the Consolidated Condensed Statements of Cash Flows as of May 31, 2024 and August 31, 2023, respectively (in millions):

May 31, 2024August 31, 2023
Cash and cash equivalents$703 $739 
Cash and cash equivalents - assets held for sale (included in other current assets)— 24 
Restricted cash - (included in other current and non-current assets)37 93 
Cash, cash equivalents and restricted cash$740 $856 

Redeemable non-controlling interests
The following represents a roll forward of the redeemable non-controlling interests in the Consolidated Condensed Balance Sheets (in millions):
Three months ended May 31,Nine months ended May 31,
2024202320242023
Opening balance$172 $158 $167 $1,042 
Net (loss) income attributable to Redeemable non-controlling interests(1)— 1 (24)
Redemption price adjustments and other 1
1 2 5 456 
Reclassifications to Accrued expenses and other liabilities 2
— — — (1,314)
Ending balance$173 $160 $173 $160 

1.Remeasurement of non-controlling interests, probable of redemption but not currently redeemable, to their redemption value, is recorded in Paid in capital within the Consolidated Condensed Balance Sheets. During the three months ended
November 30, 2022, Shields and CareCentrix redeemable non-controlling interests were recorded to redemption value as the Company announced the acceleration of its plans for their full ownership.
2.Represents the reclassification of the Shields and CareCentrix redeemable non-controlling interests to Accrued expenses and other liabilities within the Consolidated Condensed Balance Sheets, resulting from the Company's full acquisition of Shields and CareCentrix.

Earnings per share
The dilutive effect of outstanding stock options on earnings per share is calculated using the treasury stock method. Stock options are anti-dilutive and excluded from the earnings per share calculation if the exercise price exceeds the average market price of the common shares. There were 13.6 million and 14.3 million weighted outstanding options to purchase common shares that were anti-dilutive and excluded from the earnings per share calculation for the three and nine months ended May 31, 2024, respectively, compared to 17.4 million and 17.8 million for the three and nine months ended May 31, 2023, respectively.

Due to the anti-dilutive effect resulting from the reported net loss, an incremental 7.0 million and 3.3 million shares of potentially dilutive securities were omitted from the calculation of weighted-average common shares outstanding for the nine months ended May 31, 2024 and May 31, 2023, respectively.

Cash dividends declared per common share
Cash dividends per common share declared were as follows:

Quarter ended20242023
November$0.4800 $0.4800 
February$0.2500 $0.4800 
May$0.2500 $0.4800 
Total$0.9800 $1.4400