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Financial instruments (Tables)
 9 Months Ended
May 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts, Fair Value and Balance Sheet Presentation of Derivative Instruments Outstanding
The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):

May 31, 2025Notional Fair
Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards$79 $1 Other current assets
Cross currency interest rate swaps51 1 Accrued expenses and other liabilities
Foreign currency forwards1,356 15 Accrued expenses and other liabilities
Cross currency interest rate swaps259 6 Other non-current liabilities
Foreign currency forwards2 — Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards$236 $1 Other current assets
Total return swaps195 6 Other current assets
Foreign currency forwards3,343 24 Accrued expenses and other liabilities
Variable prepaid forward contracts1,792 2,404 Accrued expenses and other liabilities
Variable prepaid forward contracts 106 131 Other non-current liabilities

August 31, 2024NotionalFair
Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps$50 $1 Other current assets
Foreign currency forwards7— Other current assets
Cross currency interest rate swaps253 5 Other non-current assets
Foreign currency forwards4 — Other non-current assets
Foreign currency forwards923 15 Accrued expenses and other liabilities
Cross currency interest rate swaps356 5 Accrued expenses and other liabilities
Foreign currency forwards2 — Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards$534 $3 Other current assets
Total return swaps211 11 Other current assets
Foreign currency forwards3,606 52 Accrued expenses and other liabilities
Variable prepaid forward contracts1,185 1,332 Accrued expenses and other liabilities
Variable prepaid forward contracts 2,541 2,587 Other non-current liabilities
Schedule of Derivative Instruments
The terms of the VPF derivative contracts were as follows (in millions):
Transaction datePrepayment amountRemaining shares pledged and maximum shares subject to forward sale as of May 31, 2025Forward settlement date
May 11, 2023$644 4.6Fourth quarter, fiscal 2025
June 15, 2023325— 
Third quarter, fiscal 2025 1
August 3, 20238015.3First quarter, fiscal 2026
August 4, 2023797— 
Third quarter, fiscal 2026 2
November 9, 20234240.5
Fourth quarter, fiscal 2026 2
$2,991 10.4

1.During the three months ended May 31, 2025, the Company settled certain VPF derivative contracts through the delivery of an aggregate of 2.2 million shares of Cencora common stock to financial institutions and recognized a pre-tax gain of $378 million within Other income (expense), net, as a result of the settlement. See Note 4. Equity method investments for further information.
2.During the three months ended February 28, 2025, the Company early settled certain VPF derivative contracts. These contracts, originally scheduled to mature in the third and fourth quarter of fiscal 2026, were net share settled early through the delivery of an aggregate 6.1 million shares of Cencora common stock to financial institutions, with the Company retaining 1.3 million unencumbered shares. As part of the settlement, the Company paid an aggregate cash payment of $20 million to fulfill its obligations under the contracts. The Company recognized a pre-tax gain of $955 million within Other income (expense), net as a result of the settlement. See Note 4. Equity method and other investments for further information.
Gains and (Losses) due to Changes in Fair Value Recognized in Earnings
The income (expense) due to changes in fair value of derivative instruments was recognized in the Consolidated Condensed Statements of Earnings as follows (in millions):
  Three months ended May 31,Nine months ended May 31,
 
Location in Consolidated Condensed Statements of Earnings 1
2025202420252024
Total return swapSelling, general and administrative expenses$(2)$2 $3 $19 
Foreign currency forwards
Other income (expense), net
(170)(14)(87)19 
Variable prepaid forward 2
Other income (expense), net
(11)155 766 (733)

1.Excludes remeasurement gains and losses on economically hedged assets and liabilities.
2.Includes $378 million and $1.3 billion of settlement gains in the three and nine months ended May 31, 2025.