Divestitures

6 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure

3. Divestitures

On June 5, 2023 we signed a definitive agreement to contribute the OutcomesTM business to TDS, a portfolio company of BlackRock Long Term Private Capital and GTCR, in exchange for a 16 percent equity interest in the combined entity. The transaction closed on July 10, 2023 and we recognized a pre-tax gain of $53 million during the three months ended September 30, 2023, which was included in impairments and (gain)/loss on disposal of assets, net in our condensed consolidated statements of earnings/(loss). This gain includes our initial recognition of an equity method investment in the combined entity for $147 million, which was recorded in other assets in our condensed consolidated balance sheets.

We determined that the divestiture of the OutcomesTM business did not meet the criteria to be classified as discontinued operations. The OutcomesTM business operated within our former Pharmaceutical segment and its results before the divestiture are reflected within the Pharma segment.