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Long-Term Obligations and Other Short-Term Borrowings (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2026

Oct. 06, 2026

Jun. 30, 2025

Debt Disclosure [Abstract]

Long-Term Obligations and Other Short-Term Borrowings

5. Long-Term Obligations and Other Short-Term Borrowings

The following table summarizes long-term obligations and other short-term borrowings at:


(in millions) (1)	March 31, 2026		June 30, 2025







3.75% Notes due 2025	$	—	$	501
4.7% Notes due 2026	499		498
3.41% Notes due 2027	1,214		1,206
5.125% Notes due 2029	646		645
5.0% Notes due 2029	745		745
4.5% Notes due 2030	595		—
5.45% Notes due 2034	500		501
5.35% Notes due 2034	990		989
5.15% Notes due 2035	392		—
4.6% Notes due 2043	328		323
4.5% Notes due 2044	338		338
4.9% Notes due 2045	437		438
4.368% Notes due 2047	565		566
5.75% Notes due 2054	641		641
7.0% Debentures due 2026	124		124
Floating Rate Term Loan due 2028	699		799
Other Obligations	203		213
Total	8,916		8,527
Less: current portion of long-term obligations and other short-term borrowings	671		550
Long-term obligations, less current portion	$	8,245	$	7,977

(1) Maturities are presented on a calendar year basis.

Maturities of existing long-term obligations and other short-term borrowings for the remainder of fiscal 2026 through fiscal 2030 and thereafter are as follows:


(in millions)	Debt maturities

2026	$	14
2027	1,888
2028	740
2029	676
2030	768
Thereafter	4,830



Total debt and finance lease obligations	$	8,916

Long-Term Debt

We had total long-term obligations, including the current portion and other short-term borrowings, of $8.9 billion and $8.5 billion at March 31, 2026 and June 30, 2025, respectively. All the notes represent unsecured obligations of Cardinal Health, Inc. and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness. Interest is paid pursuant to the terms of the obligations. These notes are effectively subordinated to the liabilities of our subsidiaries, including trade payables of $37.8 billion and $34.7 billion at March 31, 2026 and June 30, 2025, respectively.

In August 2025, we issued additional debt, with the aggregate principal amount of $1.0 billion, to fund a portion of the consideration payable in connection with the Solaris Health acquisition and for general purposes. The notes issued are $600 million aggregate principal amount of 4.5% Notes that mature on September 15, 2030 and $400 million aggregate principal amount of 5.15% Notes that mature on September 15, 2035. The proceeds of the notes issued, net of discounts, premiums, and debt issuance costs, were approximately $1.0 billion.

During the three months ended March 31, 2026, we made a partial principal payment of $100 million for the Floating Rate Term Loan due 2028 with available cash.

During the three months ended September 30, 2025, we repaid the full principal of $500 million of the 3.75% Notes due 2025 at maturity with available cash.

If we undergo a change of control, as defined in the notes, and if the notes receive specified ratings below investment grade by each of Standard & Poor's Ratings Services, Moody's Investors Services, and Fitch Ratings, any holder of the notes, excluding the debentures, can require with respect to the notes owned by such holder, or we can offer, to repurchase the notes at 101% of the principal amount plus accrued and unpaid interest.

Other Financing Arrangements

In addition to cash and equivalents and operating cash flow, other sources of liquidity at March 31, 2026 include a $3.0 billion commercial paper program backed by a $2.0 billion revolving credit facility that expires in February 2028 and a $1.0 billion 364-Day revolving credit facility that expires in October 2026. We also had a $1.0 billion committed receivables sales facility through September 2028. During the three months ended March 31, 2026, under our commercial paper program and our committed receivables program, we had maximum combined total daily amounts outstanding of $2.0 billion and an average combined daily amount outstanding of $179 million. At March 31, 2026, we had no amounts outstanding under our commercial paper program, revolving credit facility, or our committed receivables sales facility.

In September 2025, we renewed our committed receivables sales facility program through Cardinal Health 23 Funding, LLC (“CHF”) through September 28, 2028.

In October 2025, we renewed the 364-Day revolving credit facility, under which we have access to $1.0 billion of committed liquidity through October 6, 2026.

Our revolving credit and committed receivables sales facilities require us to maintain a consolidated net leverage ratio of no more than 3.75-to-1. As of March 31, 2026, we were in compliance with this financial covenant.

Total Long-Term and Short-Term Obligations

$ 8,900

$ 8,500