Shareholders' Equity

12 Months Ended

Jun. 30, 2025

Equity [Abstract]

Shareholders' Equity

12. Shareholders' Deficit

At June 30, 2025 and 2024, 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, 2025 and 2024.

We repurchased $3.5 billion of our common shares, in the aggregate, through share repurchase programs during fiscal 2025, 2024, and 2023, as described below. We funded the repurchases with available cash. The common shares repurchased are held in treasury to be used for general corporate purposes.

During fiscal 2025, we repurchased 6.4 million common shares having an aggregate cost of $757 million. We repurchased 3.4 million and 3.0 million common shares under multiple accelerated share repurchase ("ASR") programs with average prices paid per common share of $110.10 and $125.87, respectively. These repurchases began on August 21, 2024 and concluded on March 11, 2025.

During fiscal 2025, we paid $15 million for excise taxes related to the completion of prior ASR programs and we retired 56 million of common stock shares without par value.

During fiscal 2024, we repurchased 9.0 million common shares having an aggregate cost of $759 million. We repurchased 0.9 million, 5.7 million, and 2.4 million common shares under multiple ASR programs with average prices paid per common share of $91.15, $88.22, and $103.67, respectively. These repurchases began on August 16, 2023 and concluded on December 13, 2023.

During fiscal 2023, we repurchased 24.6 million common shares having an aggregate cost of $2.0 billion. We repurchased 13.6 million, 3.2 million, 3.2 million, and 4.6 million common shares under multiple ASR programs with average prices paid per common share of $73.36, $77.50, $77.27, and $87.18, respectively. These repurchases began on September 14, 2022 and concluded on August 16, 2023.

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, 2023	$	(137)	$	(14)	$	(151)
Other comprehensive loss, before reclassifications	(1)		(7)		(8)
Amounts reclassified to earnings	—		(8)		(8)
Total other comprehensive loss attributable to Cardinal Health, Inc., net of tax expense of $5 million	(1)		(15)		(16)
Balance at June 30, 2024	(138)		(29)		(167)
Other comprehensive income/(loss), before reclassifications	(3)		13		10
Amounts reclassified to earnings	—		2		2
Total other comprehensive income/(loss) attributable to Cardinal Health, Inc., net of tax benefit of $6 million	(3)		15		12
Balance at June 30, 2025	$	(141)	$	(14)	$	(155)