XML 37 R17.htm IDEA: XBRL DOCUMENT v3.21.2
Shareholders' Equity
 12 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Shareholders' Equity
11. Shareholders' Equity
At June 30, 2021 and 2020, authorized capital shares consisted of the following: 750 million Class A common shares, without par value; 5 million Class B common shares, without par value; and 500 thousand non-voting preferred shares, without par value. The Class A common shares and Class B common shares are collectively referred to below as “common shares”. Holders of common shares are entitled to share equally in any dividends declared by the Board of Directors and to participate equally in all distributions of assets upon liquidation. Generally, the holders of Class A common shares are entitled to one vote per share, and the holders of Class B common shares are entitled to one-fifth of one vote per share on proposals presented to shareholders for vote. Under certain circumstances, the holders of Class B common
shares are entitled to vote as a separate class. Only Class A common shares were outstanding at June 30, 2021 and 2020.
We repurchased $1.15 billion of our common shares, in the aggregate, through share repurchase programs during fiscal 2021, 2020 and 2019, as described below. We funded the repurchases with available cash and short term borrowings. The common shares repurchased are held in treasury to be used for general corporate purposes.
During fiscal 2021, we repurchased 3.7 million common shares having an aggregate cost of $200 million. The average price paid per common share was $54.40. These repurchases were made under an accelerated share repurchase ("ASR") program, which began on February 9, 2021 and was completed on March 31, 2021.
During fiscal 2020, we repurchased 7.3 million common shares having an aggregate cost of $350 million. The average price paid per common share was $48.00. These repurchases were made under an ASR program, which began on August 20, 2019 and was completed on December 4, 2019.
During fiscal 2019, we repurchased 11.5 million common shares having an aggregate cost of $600 million. The average price paid per common share was $52.32. These repurchases were made under an ASR program, which began on August 16, 2018 and was completed on October 25, 2018.
Accumulated Other Comprehensive Loss
The following table summarizes the changes in the balance of accumulated other comprehensive loss by component and in total:
(in millions)Foreign
Currency
Translation
Adjustments and other		Unrealized
Gain/(Loss) on
Derivatives,
net of tax		Accumulated Other
Comprehensive
Loss
Balance at June 30, 2019$(95)$16 $(79)
Other comprehensive income/(loss), net before reclassifications3 (23)(20)
Amounts reclassified to earnings— (5)(5)
Total other comprehensive income/(loss) attributable to Cardinal Health, Inc., net of tax of $4 million3 (28)(25)
Balance at June 30, 2020(92)(12)(104)
Other comprehensive income, before reclassifications46 22 68 
Amounts reclassified to earnings— 2 2 
Total other comprehensive income/(loss) attributable to Cardinal Health, Inc., net of tax of $4 million46 24 70 
Balance at June 30, 2021$(46)$12 $(34)