Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | ||
Jun. 30, 2014 | Jul. 31, 2014 | Mar. 31, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'AMERISOURCEBERGEN CORP | ' | ' |
Entity Central Index Key | '0001140859 | ' | ' |
Document Type | '10-Q | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $10,325,295,935 |
Entity Common Stock, Shares Outstanding | ' | 224,381,645 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $1,261,864 | $1,231,006 |
Accounts receivable, less allowances for returns and doubtful accounts: $798,202 at June 30, 2014 and $358,161 at September 30, 2013 | 6,133,228 | 6,051,920 |
Merchandise inventories | 8,421,977 | 6,981,494 |
Prepaid expenses and other | 74,317 | 129,231 |
Total current assets | 15,891,386 | 14,393,651 |
Property and equipment, at cost: | ' | ' |
Land | 37,538 | 37,538 |
Buildings and improvements | 363,737 | 324,150 |
Machinery, equipment and other | 1,259,309 | 1,109,731 |
Total property and equipment | 1,660,584 | 1,471,419 |
Less accumulated depreciation | -778,422 | -667,858 |
Property and equipment, net | 882,162 | 803,561 |
Goodwill and other intangible assets | 3,489,315 | 3,499,713 |
Other assets | 367,743 | 221,713 |
TOTAL ASSETS | 20,630,606 | 18,918,638 |
Current liabilities: | ' | ' |
Accounts payable | 14,809,789 | 13,335,792 |
Accrued expenses and other | 471,074 | 532,564 |
Deferred income taxes | 1,058,496 | 1,002,279 |
Total current liabilities | 16,339,359 | 14,870,635 |
Long-term debt | 1,995,482 | 1,396,606 |
Other liabilities | 309,410 | 331,652 |
Stockholders' equity: | ' | ' |
Common stock, $0.01 par value - authorized: 600,000,000 shares; issued and outstanding: 270,702,146 shares and 224,286,950 shares, at June 30, 2014, respectively, and 267,789,992 shares and 229,994,216 shares at September 30, 2013, respectively | 2,707 | 2,678 |
Additional paid-in capital | 2,564,387 | 2,360,992 |
Retained earnings | 1,555,538 | 1,508,414 |
Accumulated other comprehensive loss | -39,378 | -35,483 |
Treasury stock, at cost: 46,415,196 shares at June 30, 2014 and 37,795,776 shares at September 30, 2013 | -2,096,899 | -1,516,856 |
Total stockholders' equity | 1,986,355 | 2,319,745 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $20,630,606 | $18,918,638 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Allowances for returns and doubtful accounts | $798,202 | $358,161 |
Stockholders' equity: | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 600,000,000 | 600,000,000 |
Common stock, shares issued | 270,702,146 | 267,789,992 |
Common stock, shares outstanding | 224,286,950 | 229,994,216 |
Treasury stock, shares held | 46,415,196 | 37,795,776 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Consolidated Statements of Operations [Abstract] | ' | ' | ' | ' |
Revenue | $30,348,154 | $21,906,648 | $87,980,419 | $63,490,127 |
Cost of goods sold | 29,656,150 | 21,344,198 | 85,870,597 | 61,549,860 |
Gross profit | 692,004 | 562,450 | 2,109,822 | 1,940,267 |
Operating expenses: | ' | ' | ' | ' |
Distribution, selling, and administrative | 387,611 | 331,173 | 1,128,012 | 975,409 |
Depreciation | 40,880 | 34,395 | 116,167 | 99,338 |
Amortization | 6,454 | 6,743 | 19,611 | 20,352 |
Warrants | 145,040 | 35,815 | 267,000 | 39,576 |
Employee severance, litigation and other | 1,142 | 19,678 | 7,411 | 21,383 |
Operating income | 110,877 | 134,646 | 571,621 | 784,209 |
Other (income) loss | -1,312 | 525 | -5,692 | 1,251 |
Interest expense, net | 20,903 | 18,190 | 59,209 | 55,225 |
Loss on early retirement of debt | 32,954 | 0 | 32,954 | 0 |
Income from continuing operations before income taxes | 58,332 | 115,931 | 485,150 | 727,733 |
Income taxes | 71,112 | 51,821 | 268,922 | 284,859 |
(Loss) income from continuing operations | -12,780 | 64,110 | 216,228 | 442,874 |
Income (loss) from discontinued operations, net of income taxes | 0 | 104,329 | -7,546 | -60,190 |
Net (loss) income | ($12,780) | $168,439 | $208,682 | $382,684 |
Basic earnings per share: | ' | ' | ' | ' |
Continuing operations | ($0.06) | $0.28 | $0.95 | $1.91 |
Discontinued operations | $0 | $0.45 | ($0.03) | ($0.26) |
Rounding | $0 | $0 | ($0.01) | $0 |
Total | ($0.06) | $0.73 | $0.91 | $1.65 |
Diluted earnings per share: | ' | ' | ' | ' |
Continuing operations | ($0.06) | $0.27 | $0.92 | $1.88 |
Discontinued operations | $0 | $0.44 | ($0.03) | ($0.26) |
Rounding | $0 | $0 | $0 | $0.01 |
Total | ($0.06) | $0.71 | $0.89 | $1.63 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic | 225,727 | 231,002 | 228,477 | 231,273 |
Diluted | 225,727 | 235,669 | 235,532 | 235,428 |
Cash dividends declared per share of common stock | $0.24 | $0.21 | $0.71 | $0.63 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Income and Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net (loss) income | ($12,780) | $168,439 | $208,682 | $382,684 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Net change in foreign currency translation adjustments | 5,223 | 1,067 | -3,392 | -22,574 |
Other | -87 | 80 | -503 | 134 |
Total other comprehensive income (loss) | 5,136 | 1,147 | -3,895 | -22,440 |
Total comprehensive (loss) income | ($7,644) | $169,586 | $204,787 | $360,244 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net income | $208,682 | $382,684 |
Loss from discontinued operations | 7,546 | 60,190 |
Income from continuing operations | 216,228 | 442,874 |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | ' | ' |
Depreciation, including amounts charged to cost of goods sold | 118,004 | 102,737 |
Amortization, including amounts charged to interest expense | 23,214 | 23,908 |
Provision for doubtful accounts | 16,626 | 7,922 |
(Benefit) provision for deferred income taxes | -27,661 | 12,390 |
Warrants | 267,000 | 39,576 |
Share-based compensation | 32,165 | 26,900 |
Loss on early retirement of debt | 32,954 | 0 |
Other | -5,856 | -5,873 |
Changes in operating assets and liabilities, excluding the effects of acquisitions: | ' | ' |
Accounts receivable | -535,806 | -835,697 |
Merchandise inventories | -1,002,589 | -399,087 |
Prepaid expenses and other assets | 29,528 | -65,656 |
Accounts payable, accrued expenses, and income taxes | 1,475,627 | 1,380,353 |
Other liabilities | 607 | 4,692 |
Net cash provided by operating activities - continuing operations | 640,041 | 735,039 |
Net cash (used in) provided by operating activities - discontinued operations | -7,546 | 84,025 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 632,495 | 819,064 |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures | -198,670 | -137,927 |
Cost of acquired companies, net of cash acquired | -9,103 | 0 |
Cost of equity investments | -117,794 | 0 |
Proceeds from sales of businesses | 0 | 331,630 |
Other | 6,366 | 523 |
Net cash (used in) provided by investing activities - continuing operations | -319,201 | 194,226 |
Net cash used in investing activities - discontinued operations | 0 | -11,672 |
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES | -319,201 | 182,554 |
FINANCING ACTIVITIES | ' | ' |
Long-term debt borrowings | 1,097,927 | 0 |
Long term debt repayments | -531,525 | 0 |
Borrowings under revolving and securitization credit facilities | 17,584,500 | 2,330,000 |
Repayments under revolving and securitization credit facilities | -17,584,500 | -2,330,000 |
Purchases of common stock | -570,593 | -401,091 |
Exercises of stock options, including excess tax benefits of $39,843 and $35,275 in fiscal 2014 and 2013, respectively | 109,694 | 132,766 |
Cash dividends on common stock | -161,558 | -147,005 |
Purchases of capped call options | -211,397 | -27,906 |
Debt issuance costs and other | -14,984 | -6,867 |
Net cash used in financing activities - continuing operations | -282,436 | -450,103 |
Net cash used in financing activities - discontinued operations | 0 | -50,538 |
NET CASH USED IN FINANCING ACTIVITIES | -282,436 | -500,641 |
INCREASE IN CASH AND CASH EQUIVALENTS | 30,858 | 500,977 |
Cash and cash equivalents at beginning of period | 1,231,006 | 1,066,608 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $1,261,864 | $1,567,585 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
FINANCING ACTIVITIES | ' | ' |
Excess tax benefit from the exercise of stock options | $39,843 | $35,275 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies [Text Block] | ' |
Note 1. Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying financial statements present the consolidated financial position, results of operations and cash flows of AmerisourceBergen Corporation and its wholly owned subsidiaries (the “Company”) as of the dates and for the periods indicated. All intercompany accounts and transactions have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring accruals, except as otherwise disclosed herein) considered necessary to present fairly the financial position as of June 30, 2014 and the results of operations and cash flows for the interim periods ended June 30, 2014 and 2013 have been included. Certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP, but which are not required for interim reporting purposes, have been omitted. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013. | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ from these estimated amounts. | |
Certain reclassifications have been made to prior year amounts in order to conform to the current year presentation. | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, “Revenue from Contacts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 supersedes the revenue recognition requirements in Accounting Standards Codification 605 – Revenue Recognition and most industry-specific guidance throughout the Codification. ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard's core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. Early adoption is not permitted. The Company is currently evaluating the impact of adopting this new accounting guidance. | |
As of June 30, 2014, there were no other recently issued accounting standards that will have a material impact on the Company's financial position or results of operations upon their adoption. | |
Investments
Investments | 9 Months Ended |
Jun. 30, 2014 | |
Investments [Abstract] | ' |
Equity Method Investements Disclosure [Text Block] | ' |
Note 2. Investments | |
In June 2014, the Company completed the acquisition of a minority ownership interest in Profarma Distribuidora de Produtos Farmacêuticos S.A. (“Profarma”), a leading pharmacetucal wholesaler in Brazil. In addition, the Company and Profarma launched a joint venture to provide enhanced specialty distribution and services to the Brazilian marketplace. The Company invested a total of $117.8 million to acquire both a minority ownership interest in Profarma of approximately 19.9% and a 50% ownership interest in the specialty joint venture. | |
The Company accounts for its interests in both Profarma and the specialty joint venture as equity method investments, which are recorded as “Other Assets” on the consolidated balance sheet at June 30, 2014. |
Discontinued_Operations
Discontinued Operations | 9 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Discontinued Operations [Abstract] | ' | |||||||||||||
Discontinued Operations [Text Block] | ' | |||||||||||||
Note 3. Discontinued Operations | ||||||||||||||
In May 2013, the Company completed the divestiture of its packaging and clinical trials services business, AndersonBrecon (“AB”), and AmerisourceBergen Canada Corporation (“ABCC”). The Company has classified AB and ABCC's operating results, net of tax, as discontinued operations in the accompanying consolidated statements of operations for all periods presented. Prior to being classified within discontinued operations, AB was included in Other and ABCC was included in Pharmaceutical Distribution for segment reporting. AB and ABCC's revenue and loss before income taxes were as follows: | ||||||||||||||
Three months ended June 30, | Nine months ended June 30, | |||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Revenue | $ | - | $ | 265,724 | $ | - | $ | 1,181,232 | ||||||
Income (loss) before income taxes | $ | - | $ | 105,950 | $ | -7,546 | $ | -50,663 | ||||||
The loss before income taxes in the nine months ended June 30, 2014 includes the impact of a final purchase price working capital adjustment related to the divestiture of ABCC. The income before income taxes in the three months ended June 30, 2013 includes a $114.3 million gain on the sale of AB and an $8.9 million increase to the previously estimated loss on ABCC. The loss before income taxes in the nine months ended June 30, 2013 also includes a goodwill impairment charge of $26.9 million and an estimated $134.8 million loss on the sale of ABCC. |
Income_Taxes
Income Taxes | 9 Months Ended |
Jun. 30, 2014 | |
Income Taxes [Abstract] | ' |
Income Taxes [Text Block] | ' |
Note 4. Income Taxes | |
The Company files income tax returns in U.S. federal and state jurisdictions as well as various foreign jurisdictions. As of June 30, 2014, the Company had unrecognized tax benefits, defined as the aggregate tax effect of differences between tax return positions and the benefits recognized in the Company's financial statements, of $51.2 million ($36.2 million, net of federal benefit). If recognized, these tax benefits would reduce income tax expense and the effective tax rate. Included in this amount is $8.4 million of interest and penalties, which the Company records in income tax expense. During the nine months ended June 30, 2014, unrecognized tax benefits decreased by $4.2 million. During the next 12 months, it is reasonably possible that state tax audit resolutions and the expiration of statutes of limitations could result in a reduction of unrecognized tax benefits by approximately $5.4 million. | |
In March 2013, the Company issued Warrants (as defined in Note 7) in connection with various agreements and arrangements with Walgreen Co. (“Walgreens”) and Alliance Boots GmbH (“Alliance Boots”). As of the date of issuance, the Warrants were valued at $242.4 million, which approximates the amount that will be deductible for income tax purposes. The fair value of the Warrants as of June 30, 2014 was $948.5 million. The excess of the fair value of the Warrants over the initial value is not tax deductible. As a result, in periods where the fair value of the Warrants exceeds the initial value, the Company's effective income tax rate will be higher than its normal historical rate. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 9 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||
Goodwill and Other Intangible Assets [Text Block] | ' | |||||||||||||||||
Note 5. Goodwill and Other Intangible Assets | ||||||||||||||||||
Following is a summary of the changes in the carrying value of goodwill, by reportable segment, for the nine months ended June 30, 2014 (in thousands): | ||||||||||||||||||
Pharmaceutical Distribution | Other | Total | ||||||||||||||||
Goodwill at September 30, 2013 | $ | 2,400,926 | $ | 544,044 | $ | 2,944,970 | ||||||||||||
Goodwill recognized in connection with acquisition | - | 5,715 | 5,715 | |||||||||||||||
Foreign currency translation | - | -737 | -737 | |||||||||||||||
Goodwill at June 30, 2014 | $ | 2,400,926 | $ | 549,022 | $ | 2,949,948 | ||||||||||||
Following is a summary of other intangible assets (in thousands): | ||||||||||||||||||
30-Jun-14 | 30-Sep-13 | |||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||
Indefinite-lived | ||||||||||||||||||
intangibles - trade | ||||||||||||||||||
names | $ | 343,812 | $ | - | $ | 343,812 | $ | 343,892 | $ | - | $ | 343,892 | ||||||
Finite-lived | ||||||||||||||||||
intangibles: | ||||||||||||||||||
Customer | ||||||||||||||||||
relationships | 268,565 | -94,147 | 174,418 | 265,810 | -80,767 | 185,043 | ||||||||||||
Other | 70,583 | -49,446 | 21,137 | 69,350 | -43,542 | 25,808 | ||||||||||||
Total other intangible | ||||||||||||||||||
assets | $ | 682,960 | $ | -143,593 | $ | 539,367 | $ | 679,052 | $ | -124,309 | $ | 554,743 | ||||||
Amortization expense for finite-lived intangible assets was $19.6 million and $20.4 million in the nine months ended June 30, 2014 and 2013, respectively. Amortization expense for finite-lived intangible assets is estimated to be $25.9 million in fiscal 2014, $22.2 million in fiscal 2015, $21.6 million in fiscal 2016, $17.7 million in fiscal 2017, $15.5 million in fiscal 2018, and $112.3 million thereafter. |
Debt
Debt | 9 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Debt [Abstract] | ' | ||||||
Debt [Text Block] | ' | ||||||
Note 6. Debt | |||||||
Debt consisted of the following (in thousands): | |||||||
June 30, | September 30, | ||||||
2014 | 2013 | ||||||
Multi-currency revolving credit facility due 2018 | $ | - | $ | - | |||
Receivables securitization facility due 2016 | - | - | |||||
Revolving credit note | - | - | |||||
$500,000, 5.875% senior notes due 2015 | - | 499,377 | |||||
$600,000, 1.15% senior notes due 2017 | 599,363 | - | |||||
$400,000, 4.875% senior notes due 2019 | 398,041 | 397,803 | |||||
$500,000, 3.50% senior notes due 2021 | 499,479 | 499,426 | |||||
$500,000, 3.40% senior notes due 2024 | 498,599 | - | |||||
Total debt | $ | 1,995,482 | $ | 1,396,606 | |||
The Company has a $1.4 billion multi-currency senior unsecured revolving credit facility, which expires in July 2018 (the “Multi-Currency Revolving Credit Facility”), with a syndicate of lenders. Interest on borrowings under the Multi-Currency Revolving Credit Facility accrues at specified rates based on the Company's debt rating and ranges from 68 basis points to 130 basis points over LIBOR / EURIBOR / Bankers Acceptance Stamping Fee, as applicable (90 basis points over LIBOR / EURIBOR / Bankers Acceptance Stamping Fee at June 30, 2014). Additionally, interest on borrowings denominated in Canadian dollars may accrue at the greater of the Canadian prime rate or the CDOR rate. The Company pays facility fees to maintain the availability under the Multi-Currency Revolving Credit Facility at specified rates based on its debt rating, ranging from 7 basis points to 20 basis points, annually, of the total commitment (10 basis points at June 30, 2014). The Company may choose to repay or reduce its commitments under the Multi-Currency Revolving Credit Facility at any time. The Multi-Currency Revolving Credit Facility contains covenants, including compliance with a financial leverage ratio test, as well as others that impose limitations on, among other things, indebtedness of excluded subsidiaries and asset sales, with which the Company was compliant as of June 30, 2014. | |||||||
The Company has a commercial paper program whereby it may from time to time issue short-term promissory notes in an aggregate amount of up to $1.4 billion at any one time. Amounts available under the program may be borrowed, repaid, and re-borrowed from time to time. The maturities on the notes will vary, but may not exceed 365 days from the date of issuance. The notes will bear interest rates, if interest bearing, or will be sold at a discount from their face amounts. The commercial paper program does not increase the Company's borrowing capacity as it is fully backed by the Company's Multi-Currency Revolving Credit Facility. | |||||||
The Company has a $950 million receivables securitization facility (“Receivables Securitization Facility”), which expires in June 2016. The Company has available to it an accordion feature whereby the commitment on the Receivables Securitization Facility may be increased by up to $250 million, subject to lender approval, for seasonal needs during the December and March quarters. Interest rates are based on prevailing market rates for short-term commercial paper or LIBOR plus a program fee of 75 basis points. The Company pays an unused fee of 40 basis points, annually, to maintain the availability under the Receivables Securitization Facility. The Receivables Securitization Facility contains similar covenants to the Multi-Currency Revolving Credit Facility, with which the Company was compliant as of June 30, 2014. | |||||||
The Company has an uncommitted, unsecured line of credit available to it pursuant to a revolving credit note (“Revolving Credit Note”). The Revolving Credit Note provides the Company with the ability to request short-term unsecured revolving credit loans from time to time in a principal amount not to exceed $75 million. The Revolving Credit Note may be decreased or terminated by the bank or the Company at any time without prior notice. | |||||||
In May 2014, the Company issued $600 million of 1.15% senior notes due May 15, 2017 (the “2017 Notes”) and $500 million of 3.40% senior notes due May 15, 2024 (the “2024 Notes”). The 2017 Notes were sold at 99.892% of the principal amount and have an effective yield of 1.187%. The 2024 Notes were sold at 99.715% of the principal amount and have an effective yield of 3.434%. Interest on the 2017 Notes and 2024 Notes is payable semiannually in arrears, commencing on November 15, 2014. The 2017 and 2024 Notes rank pari passu to the Multi-Currency Revolving Credit Facility, the Revolving Credit Note, the $400 million 4.875% senior notes due in 2019, and the $500 million 3.50% senior notes due in 2021. Costs incurred in connection with the issuance of the 2017 Notes and the 2024 Notes were deferred and are being amortized over the terms of the notes. | |||||||
The Company used a portion of the net proceeds from the 2017 Notes and the 2024 Notes to finance the early retirement of the $500 million 5.875% senior notes due 2015 (the “2015 Notes), including the payment of $31.5 million of premiums and other costs. The Company used the remaining amount for general corporate purposes, including repurchases of shares of its common stock under its special share repurchase program authorized in May 2014. |
Stockholders_Equity_and_Earnin
Stockholders' Equity and Earnings per Share | 9 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Stockholders' Equity and Earnings per Share [Abstract] | ' | |||||||||
Stockholders' Equity and Earnings per Share | ' | |||||||||
Note 7. Stockholders' Equity and Earnings per Share | ||||||||||
In November 2013, the Company's board of directors increased the quarterly cash dividend by 12% from $0.21 per share to $0.235 per share. | ||||||||||
In November 2012, the Company's board of directors authorized a program allowing the Company to purchase up to $750 million of its outstanding shares of common stock, subject to market conditions. During the nine months ended June 30, 2014, the Company purchased 5.5 million shares of its common stock for a total of $363.0 million to complete this program. In August 2013, the Company's board of directors authorized a program allowing the Company to purchase up to an additional $750 million of its outstanding shares of common stock, subject to market conditions. During the nine months ended June 30, 2014, the Company purchased 1.0 million shares of its common stock for a total of $68.6 million under this program. The Company had $681.4 million of availability remaining under this share repurchase program as of June 30, 2014. | ||||||||||
In March 2013, the Company, Walgreens, and Alliance Boots entered into various agreements and arrangements pursuant to which Walgreens and Alliance Boots together were granted the right to purchase a minority equity position in the Company, beginning with the right, but not the obligation, to purchase up to 19,859,795 shares of the Company's common stock (approximately 7% of the Company's common stock, on a fully diluted basis as of the date of issuance, assuming the exercise in full of the Warrants, as defined below) in open market transactions. In connection with these arrangements, Walgreens Pharmacy Strategies, LLC, a wholly owned subsidiary of Walgreens, was issued (a) a warrant to purchase up to 11,348,456 shares of the Company's common stock at an exercise price of $51.50 per share exercisable during a six month period beginning in March 2016, and (b) a warrant to purchase up to 11,348,456 shares of the Company's common stock at an exercise price of $52.50 per share exercisable during a six-month period beginning in March 2017 and Alliance Boots Luxembourg S.à.r.l., a wholly owned subsidiary of Alliance Boots, was issued (a) a warrant to purchase up to 11,348,456 shares of the Company's common stock at an exercise price of $51.50 per share exercisable during a six-month period beginning in March 2016 and (b) a warrant to purchase up to 11,348,456 shares of the Company's common stock at an exercise price of $52.50 per share exercisable during a six-month period beginning in March 2017 (collectively, the “Warrants”). | ||||||||||
The Company valued these Warrants as of March 18, 2013 (date of issuance) and revised the valuation each subsequent quarter. As of June 30, 2014, the Warrants with an exercise price of $51.50 were valued at $20.78 per share and the Warrants with an exercise price of $52.50 were valued at $21.01 per share. In total, the Warrants were valued at $948.5 million as of June 30, 2014. Refer to “Critical Accounting Policies and Estimates – Warrants” in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013 for a more detailed description of the accounting for the Warrants. | ||||||||||
The Company has taken steps to mitigate the potentially dilutive effect that the exercise of the Warrants could have by hedging a portion of its future obligation to deliver common stock with a financial institution and repurchasing additional shares of its common stock for the Company's own account over time. In June 2013, the Company commenced its hedging strategy by entering into a contract with a financial institution pursuant to which it has executed a series of issuer capped call option transactions (“Capped Calls”). The Capped Calls give the Company the right to buy 60% of the shares of its common stock subject to the Warrants at specified prices at maturity, should the Warrants be exercised in 2016 and 2017 and assuming the Company's future share price does not exceed the “cap” price in the Capped Calls. If the Company's share price exceeds the “cap” price in the Capped Calls at the time the Warrants are exercised, the number of shares that will be delivered to the Company under the Capped Calls will be reduced, and accordingly, will cover less than 60% of the shares of common stock subject to the Warrants. | ||||||||||
Through September 30, 2013, the Company purchased Capped Calls on 15.3 million shares of its common stock for a total premium of $163.4 million. During the nine months ended June 30, 2014, the Company completed this hedge transaction by purchasing Capped Calls on an additional 11.9 million shares of its common stock for a total premium of $205.3 million. The Capped Calls permit the Company to acquire shares of its common stock at strike prices of $51.50 and $52.50 and have expiration dates ranging from February 2016 through October 2017. The Capped Calls permit net share settlement, which is limited by caps on the market price of the Company's common stock. The Company has accounted for the Capped Calls as equity contracts and therefore, the above premiums were recorded as a reduction to paid-in capital. | ||||||||||
In May 2014, the Company's board of directors authorized a special program allowing the Company to purchase up to $650 million of its outstanding shares of common stock, subject to market conditions, as an opportunity to further mitigate the potentially dilutive effect of the Warrants and supplements the Company's previously executed warrant hedging strategy. During the three months ended June 30, 2014, the Company purchased 2.0 million shares of its common stock for a total of $141.6 million under this program, which included $2.9 million of purchases that cash settled in July 2014. The Company has $508.4 million of availability remaining under this special share repurchase program as of June 30, 2014. | ||||||||||
Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the periods presented plus the dilutive effect of stock options, restricted stock, restricted stock units, and the Warrants. | ||||||||||
Three months ended | Nine months ended | |||||||||
June 30, | June 30, | |||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||
Weighted average common shares outstanding - basic | 225,727 | 231,002 | 228,477 | 231,273 | ||||||
Dilutive effect of stock options, restricted | ||||||||||
stock, and restricted stock units | - | 4,667 | 4,834 | 4,155 | ||||||
Dilutive effect of Warrants | - | - | 2,221 | - | ||||||
Weighted average common shares outstanding - diluted | 225,727 | 235,669 | 235,532 | 235,428 | ||||||
The potentially dilutive stock options, restricted stock, restricted stock units, and Warrants that were antidilutive for the three and nine months ended June 30, 2014 were 9.9 million and 2.0 million, respectively. There were no potentially dilutive stock options, restricted stock, or restricted stock units that were antidilutive for the three and nine months ended June 30, 2013. All of the Warrants were antidilutive for the three and nine months ended June 30, 2013. |
Legal_Matters_and_Contingencie
Legal Matters and Contingencies | 9 Months Ended |
Jun. 30, 2014 | |
Legal Matters and Contingencies [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
Note 8. Legal Matters and Contingencies | |
In the ordinary course of its business, the Company becomes involved in lawsuits, administrative proceedings, government subpoenas, and government investigations, including antitrust, commercial, environmental, product liability, intellectual property, regulatory, employment discrimination, and other matters. Significant damages or penalties may be sought from the Company in some matters, and some matters may require years for the Company to resolve. The Company establishes reserves based on its periodic assessment of estimates of probable losses. There can be no assurance that an adverse resolution of one or more matters during any subsequent reporting period will not have a material adverse effect on the Company's results of operations for that period or on the Company's financial condition. | |
Qui Tam | |
The qui tam provisions of the federal civil False Claims Act and various state and local civil False Claims Acts permit a private person, known as a "relator" or whistleblower, to file civil actions under these statutes on behalf of the federal, state and local governments. Such cases may involve allegations around the marketing, sale and/or purchase of pharmaceutical products. Qui tam complaints are initially filed by the relator under seal (or on a confidential basis) and the filing of the complaint imposes obligations on government authorities to investigate the allegations in the complaint and to determine whether or not to intervene in the action. Qui tam complaints remain sealed until the court in which the case was filed orders otherwise. | |
The Company has learned that there are filings in one or more federal district courts, including a qui tam complaint filed by one of its former employees, that are under seal and may involve allegations against the Company (and/or subsidiaries or businesses of the Company, including its group purchasing organization for oncologists and its oncology distribution business) relating to its distribution of certain pharmaceutical products to providers. The Company and AmerisourceBergen Specialty Group (“ABSG”) have also received subpoenas from the United States Attorney's Office for the Eastern District of New York ("USAO") requesting production of documents and information relating to ABSG's oncology distribution center and former pharmacy in Dothan, Alabama, its group purchasing organization for oncologists, and intercompany transfers of certain oncology products, which the Company believes could be related to one or more of the qui tam actions that remain under seal. The Company is in the process of responding to the subpoenas and is cooperating fully with the USAO. The Company cannot predict the outcome of any pending action in which any AmerisourceBergen entity is or may become a defendant. | |
Subpoenas from United States Attorney's Offices | |
In fiscal 2012, the Company's subsidiary, AmerisourceBergen Drug Corporation (“ABDC”), received a subpoena from the United States Attorney's Office in New Jersey (the "USAO") in connection with a grand jury proceeding requesting documents concerning ABDC's program for controlling and monitoring diversion of controlled substances into channels other than for legitimate medical, scientific, and industrial purposes. ABDC also received a subpoena from the Drug Enforcement Administration ("DEA") in connection with the matter. In addition to requesting information on ABDC's diversion control program generally, the subpoenas also request documents concerning specific customers' purchases of controlled substances. ABDC has responded to the subpoenas and is cooperating fully with the USAO and the DEA. On August 30, 2013, ABDC received a second subpoena from the USAO and also a second subpoena from the DEA requesting additional information related to the documents produced in response to the first subpoena, as well as information regarding additional specific customers' purchases of controlled substances. On December 31, 2013, ABDC received a third subpoena from the USAO requesting additional information related to electronically stored information. On June 20, 2014, ABDC received a fourth subpoena requesting additional information related to the documents produced in response to the first and second subpoenas. The Company cannot predict the outcome of this matter. | |
In fiscal 2013 and in 2014, the Company or ABDC has also received similar subpoenas from the United States Attorney's Office in the District of Kansas and the United States Attorney's Office in the Northern District of Ohio in connection with grand jury proceedings requesting documents concerning ABDC's program for controlling and monitoring diversion of controlled substances into channels other than for legitimate medical, scientific and industrial purposes. As in the New Jersey matter described above, in addition to requesting information on ABDC's diversion control program generally, the subpoenas also request documents concerning specific customers' purchases of controlled substances. The Company is in the process of responding to the subpoenas and cannot predict the outcome of these matters. | |
West Virginia Complaint | |
On June 26, 2012, the Attorney General of the State of West Virginia ("West Virginia") filed a complaint (the "Complaint") in the Circuit Court of Boone County, West Virginia, against a number of pharmaceutical wholesale distributors, including the Company's subsidiary, ABDC, alleging, among other things, that the distributors failed to provide effective controls and procedures to guard against diversion of controlled substances for illegitimate purposes in West Virginia. The Complaint also alleges that the distributors acted negligently by distributing controlled substances to pharmacies that serve individuals who abuse prescription pain medication and were unjustly enriched by such conduct, violated consumer credit and protection laws, created a public nuisance, and violated state antitrust laws in connection with the distribution of controlled substances. West Virginia is seeking injunctive relief to enjoin alleged violations of state regulations requiring suspicious order monitoring and reporting and to require defendants to fund a medical monitoring treatment program. The Complaint also seeks a jury trial to determine any losses and damages sustained by West Virginia as a result of the defendants' alleged conduct. On July 26, 2012, one of the defendants, J.M. Smith Corporation d/b/a Smith Drug Company, filed a Notice of Removal from the Circuit Court of Boone County, West Virginia to the United States District Court for the Southern District of West Virginia, and ABDC and all other defendants filed Consents to Removal. On August 27, 2012, West Virginia filed a Motion to Remand, to which J.M. Smith Corporate d/b/a Smith Drug Company, joined by all other defendants, filed a reply. On March 27, 2013, the Court granted West Virginia's Motion to Remand and West Virginia notified the parties that they intended to file an amended complaint. In advance of filing an amended complaint, West Virginia served discovery requests and subsequently filed a motion to compel. After responding to West Virginia's motion to compel and oral argument, defendants were ordered to provide limited responses. On January 2, 2014, West Virginia filed an amended complaint, which removed the claims for unjust enrichment, medical monitoring and antitrust violations. On February 14, 2014, the defendants filed motions to dismiss the amended complaint. The plaintiffs filed responses in opposition to the defendants' motion to dismiss on May 6, 2014, and the defendants filed reply briefs in support of their motions on May 23, 2014. The court held oral argument on June 5, 2014. The motions to dismiss are currently pending before the court. The Company cannot predict the outcome of this matter. |
Litigation_Settlements
Litigation Settlements | 9 Months Ended |
Jun. 30, 2014 | |
Litigation Settlements [Abstract] | ' |
Litigation Settlements [Text Block] | ' |
Note 9. Litigation Settlements | |
Antitrust Settlements | |
Numerous class action lawsuits have been filed against certain brand pharmaceutical manufacturers alleging that the manufacturer, by itself or in concert with others, took improper actions to delay or prevent generic drugs from entering the market. The Company has not been named a plaintiff in any of these class actions, but has been a member of the direct purchasers' class (i.e., those purchasers who purchase directly from these pharmaceutical manufacturers). None of the class actions have gone to trial, but some have settled in the past with the Company receiving proceeds from the settlement funds. During the three and nine months ended June 30, 2014, the Company recognized gains of $2.5 million and $24.4 million, respectively, relating to the above-mentioned class action lawsuits. During the three and nine months ended June 30, 2013, the Company recognized gains of $6.0 million and $21.7 million, respectively, relating to the above-mentioned class action lawsuits. These gains, which are net of attorney fees and estimated payments due to other parties, were recorded as reductions to cost of goods sold in the Company's consolidated statements of operations. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended |
Jun. 30, 2014 | |
Fair Value of Financial Instruments [Abstract] | ' |
Fair Value of Financial Instruments [Text Block] | ' |
Note 10. Fair Value of Financial Instruments | |
The recorded amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable at June 30, 2014 and September 30, 2013 approximate fair value based upon the relatively short-term nature of these financial instruments. Within cash and cash equivalents, the Company had $100.0 million of investments in money market accounts as of June 30, 2014. The Company had no investments in money market accounts as of September 30, 2013. The fair values of the money market accounts were based on unadjusted quoted prices in active markets for identical assets, otherwise known as Level 1 inputs. The recorded amount of long-term debt and the corresponding fair value as of June 30, 2014 were $1,995.5 million and $2,070.1 million, respectively. The recorded amount of long-term debt and the corresponding fair value as of September 30, 2013 were $1,396.6 million and $1,502.0 million, respectively. The fair values of debt were determined based on quoted market prices, otherwise known as Level 2 inputs. | |
Business_Segment_Information
Business Segment Information | 9 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Business Segment Information [Abstract] | ' | |||||||||||||
Business Segment Information [Text Block] | ' | |||||||||||||
Note 11. Business Segment Information | ||||||||||||||
The Company is organized based upon the products and services it provides to its customers. The Company's operations are comprised of the Pharmaceutical Distribution reportable segment and Other. The Pharmaceutical Distribution reportable segment consists of the AmerisourceBergen Drug Corporation (“ABDC”) and AmerisourceBergen Specialty Group (“ABSG”) operating segments. Other consists of the AmerisourceBergen Consulting Services (“ABCS”) and World Courier Group, Inc. (“World Courier”) operating segments. | ||||||||||||||
The following tables illustrate reportable segment information for the three and nine months ended June 30, 2014 and 2013 (in thousands): | ||||||||||||||
Revenue | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Pharmaceutical Distribution | $ | 29,812,837 | $ | 21,407,853 | $ | 86,367,923 | $ | 62,061,060 | ||||||
Other | 620,275 | 549,400 | 1,796,910 | 1,569,392 | ||||||||||
Intersegment eliminations | -84,958 | -50,605 | -184,414 | -140,325 | ||||||||||
Revenue | $ | 30,348,154 | $ | 21,906,648 | $ | 87,980,419 | $ | 63,490,127 | ||||||
Intersegment eliminations primarily represent the elimination of certain ABCS sales to the Pharmaceutical Distribution reportable segment. | ||||||||||||||
Operating Income | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Pharmaceutical Distribution | $ | 359,795 | $ | 278,728 | $ | 1,019,506 | $ | 866,482 | ||||||
Other | 33,678 | 33,600 | 113,261 | 98,260 | ||||||||||
Total segment operating income | 393,473 | 312,328 | 1,132,767 | 964,742 | ||||||||||
Gains on antitrust litigation settlements | 2,524 | 5,984 | 24,396 | 21,748 | ||||||||||
LIFO expense | -133,237 | -122,077 | -293,647 | -123,029 | ||||||||||
Acquisition related intangibles | ||||||||||||||
amortization | -5,701 | -6,096 | -17,484 | -18,293 | ||||||||||
Warrants | -145,040 | -35,815 | -267,000 | -39,576 | ||||||||||
Employee severance, litigation and other | -1,142 | -19,678 | -7,411 | -21,383 | ||||||||||
Operating income | 110,877 | 134,646 | 571,621 | 784,209 | ||||||||||
Other (income) loss | -1,312 | 525 | -5,692 | 1,251 | ||||||||||
Interest expense, net | 20,903 | 18,190 | 59,209 | 55,225 | ||||||||||
Loss on early retirement of debt | 32,954 | - | 32,954 | - | ||||||||||
Income from continuing operations | ||||||||||||||
before income taxes | $ | 58,332 | $ | 115,931 | $ | 485,150 | $ | 727,733 | ||||||
Segment operating income is evaluated by the chief operating decision maker for the Company before gains on antitrust litigation settlements; LIFO expense; acquisition related intangibles amortization; Warrants; employee severance, litigation and other; other (income) loss; interest expense, net; and loss on early retirement of debt. All corporate office expenses are allocated to ABDC and ABSG within the Pharmaceutical Distribution reportable segment and to ABCS and World Courier within Other. Management believes that evaluating segment performance excluding the above items is meaningful because it provides insight with respect to operating results of the Company. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Consolidation Policy [Policy Text Block] | ' |
The accompanying financial statements present the consolidated financial position, results of operations and cash flows of AmerisourceBergen Corporation and its wholly owned subsidiaries (the “Company”) as of the dates and for the periods indicated. All intercompany accounts and transactions have been eliminated in consolidation. | |
Basis of Accounting [Policy Text Block] | ' |
The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring accruals, except as otherwise disclosed herein) considered necessary to present fairly the financial position as of June 30, 2014 and the results of operations and cash flows for the interim periods ended June 30, 2014 and 2013 have been included. Certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP, but which are not required for interim reporting purposes, have been omitted. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013. | |
Use of Estimates, Policy [Policy Text Block] | ' |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ from these estimated amounts. | |
Reclassifications [Policy Text Block] | ' |
Certain reclassifications have been made to prior year amounts in order to conform to the current year presentation. | |
New Accounting Pronouncements Policy [Policy Text Block] | ' |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, “Revenue from Contacts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 supersedes the revenue recognition requirements in Accounting Standards Codification 605 – Revenue Recognition and most industry-specific guidance throughout the Codification. ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard's core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. Early adoption is not permitted. The Company is currently evaluating the impact of adopting this new accounting guidance. | |
As of June 30, 2014, there were no other recently issued accounting standards that will have a material impact on the Company's financial position or results of operations upon their adoption. | |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Discontinued Operations [Abstract] | ' | |||||||||||||
Schedule of Disposal Groups Inlcuding Discontinued Operations Income Statement Balance Sheet and Additional Disclosures [Text Block] | ' | |||||||||||||
Three months ended June 30, | Nine months ended June 30, | |||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Revenue | $ | - | $ | 265,724 | $ | - | $ | 1,181,232 | ||||||
Income (loss) before income taxes | $ | - | $ | 105,950 | $ | -7,546 | $ | -50,663 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||
Schedule of Goodwill [Text Block] | ' | |||||||||||||||||
Pharmaceutical Distribution | Other | Total | ||||||||||||||||
Goodwill at September 30, 2013 | $ | 2,400,926 | $ | 544,044 | $ | 2,944,970 | ||||||||||||
Goodwill recognized in connection with acquisition | - | 5,715 | 5,715 | |||||||||||||||
Foreign currency translation | - | -737 | -737 | |||||||||||||||
Goodwill at June 30, 2014 | $ | 2,400,926 | $ | 549,022 | $ | 2,949,948 | ||||||||||||
Schedule of Other Intangible Assets [Text Block] | ' | |||||||||||||||||
30-Jun-14 | 30-Sep-13 | |||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||
Indefinite-lived | ||||||||||||||||||
intangibles - trade | ||||||||||||||||||
names | $ | 343,812 | $ | - | $ | 343,812 | $ | 343,892 | $ | - | $ | 343,892 | ||||||
Finite-lived | ||||||||||||||||||
intangibles: | ||||||||||||||||||
Customer | ||||||||||||||||||
relationships | 268,565 | -94,147 | 174,418 | 265,810 | -80,767 | 185,043 | ||||||||||||
Other | 70,583 | -49,446 | 21,137 | 69,350 | -43,542 | 25,808 | ||||||||||||
Total other intangible | ||||||||||||||||||
assets | $ | 682,960 | $ | -143,593 | $ | 539,367 | $ | 679,052 | $ | -124,309 | $ | 554,743 |
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Debt [Abstract] | ' | ||||||
Schedule Of Debt Instruments Text Block | ' | ||||||
June 30, | September 30, | ||||||
2014 | 2013 | ||||||
Multi-currency revolving credit facility due 2018 | $ | - | $ | - | |||
Receivables securitization facility due 2016 | - | - | |||||
Revolving credit note | - | - | |||||
$500,000, 5.875% senior notes due 2015 | - | 499,377 | |||||
$600,000, 1.15% senior notes due 2017 | 599,363 | - | |||||
$400,000, 4.875% senior notes due 2019 | 398,041 | 397,803 | |||||
$500,000, 3.50% senior notes due 2021 | 499,479 | 499,426 | |||||
$500,000, 3.40% senior notes due 2024 | 498,599 | - | |||||
Total debt | $ | 1,995,482 | $ | 1,396,606 |
Stockholders_Equity_and_Earnin1
Stockholders' Equity and Earnings Per Share (Tables) | 9 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Stockholders' Equity and Earnings per Share [Abstract] | ' | |||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||
Three months ended | Nine months ended | |||||||||
June 30, | June 30, | |||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||
Weighted average common shares outstanding - basic | 225,727 | 231,002 | 228,477 | 231,273 | ||||||
Dilutive effect of stock options, restricted | ||||||||||
stock, and restricted stock units | - | 4,667 | 4,834 | 4,155 | ||||||
Dilutive effect of Warrants | - | - | 2,221 | - | ||||||
Weighted average common shares outstanding - diluted | 225,727 | 235,669 | 235,532 | 235,428 |
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Reconciliation from Segment Totals to Consolidated [Abstract] | ' | |||||||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | |||||||||||||
Revenue | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Pharmaceutical Distribution | $ | 29,812,837 | $ | 21,407,853 | $ | 86,367,923 | $ | 62,061,060 | ||||||
Other | 620,275 | 549,400 | 1,796,910 | 1,569,392 | ||||||||||
Intersegment eliminations | -84,958 | -50,605 | -184,414 | -140,325 | ||||||||||
Revenue | $ | 30,348,154 | $ | 21,906,648 | $ | 87,980,419 | $ | 63,490,127 | ||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||
Operating Income | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Pharmaceutical Distribution | $ | 359,795 | $ | 278,728 | $ | 1,019,506 | $ | 866,482 | ||||||
Other | 33,678 | 33,600 | 113,261 | 98,260 | ||||||||||
Total segment operating income | 393,473 | 312,328 | 1,132,767 | 964,742 | ||||||||||
Gains on antitrust litigation settlements | 2,524 | 5,984 | 24,396 | 21,748 | ||||||||||
LIFO expense | -133,237 | -122,077 | -293,647 | -123,029 | ||||||||||
Acquisition related intangibles | ||||||||||||||
amortization | -5,701 | -6,096 | -17,484 | -18,293 | ||||||||||
Warrants | -145,040 | -35,815 | -267,000 | -39,576 | ||||||||||
Employee severance, litigation and other | -1,142 | -19,678 | -7,411 | -21,383 | ||||||||||
Operating income | 110,877 | 134,646 | 571,621 | 784,209 | ||||||||||
Other (income) loss | -1,312 | 525 | -5,692 | 1,251 | ||||||||||
Interest expense, net | 20,903 | 18,190 | 59,209 | 55,225 | ||||||||||
Loss on early retirement of debt | 32,954 | - | 32,954 | - | ||||||||||
Income from continuing operations | ||||||||||||||
before income taxes | $ | 58,332 | $ | 115,931 | $ | 485,150 | $ | 727,733 |
Investments_Details
Investments (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Payments to Acquire Investments | $117,794 | $0 |
Profarma [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Equity Method Investment Ownership Percentage | 19.90% | ' |
Specialty Joint Venture [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Equity Method Investment Ownership Percentage | 50.00% | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Anderson Brecon and AmerisourceBergen Canada Corporation [Member] | ' | ' | ' | ' |
Income Statement Balance Sheet and Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
disposal group including discontinued operation revenue | $0 | $265,724,000 | $0 | $1,181,232,000 |
disposal group including discontinued operation operating income | 0 | 105,950,000 | -7,546,000 | -50,663,000 |
AmerisourceBergen Canada Corporation [Member] | ' | ' | ' | ' |
Income Statement Balance Sheet and Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Discontinued Operation Provision for Loss Gain on Disposal Net of Tax | ' | 8,900,000 | ' | 134,800,000 |
Goodwill Impairment Loss | ' | ' | ' | 26,900,000 |
Anderson Brecon [Member] | ' | ' | ' | ' |
Income Statement Balance Sheet and Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Discontinued Operation Provision for Loss Gain on Disposal Net of Tax | ' | ($114,300,000) | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Mar. 18, 2013 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' |
Unrecognized Tax Benefits | $51.20 | ' |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 36.2 | ' |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued | 8.4 | ' |
Unrecognized Tax Benefits Period Increase Decrease | -4.2 | ' |
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit | 5.4 | ' |
Full Value of Warrants | $948.50 | $242.40 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2013 | |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Goodwill at September 30, 2013 | ' | ' | $2,944,970,000 | ' | ' |
Goodwill, Acquired During Period | ' | ' | 5,715,000 | ' | ' |
Goodwill, Translation Adjustments | ' | ' | -737,000 | ' | ' |
Goodwill at June 30, 2014 | 2,949,948,000 | ' | 2,949,948,000 | ' | ' |
Indefinite-lived intangibles-trade names | 343,812,000 | ' | 343,812,000 | ' | 343,892,000 |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets Accumulated Amortization | 143,593,000 | ' | 143,593,000 | ' | 124,309,000 |
Intangible Assets Gross Excluding Goodwill | 682,960,000 | ' | 682,960,000 | ' | 679,052,000 |
Intangible Assets Net Excluding Goodwill | 539,367,000 | ' | 539,367,000 | ' | 554,743,000 |
Amortization of Intangible Assets | 6,454,000 | 6,743,000 | 19,611,000 | 20,352,000 | ' |
Future Amortization Expense Year One | 25,900,000 | ' | 25,900,000 | ' | ' |
Future Amortization Expense Year Two | 22,200,000 | ' | 22,200,000 | ' | ' |
Future Amortization Expense Year Three | 21,600,000 | ' | 21,600,000 | ' | ' |
Future Amortization Expense Year Four | 17,700,000 | ' | 17,700,000 | ' | ' |
Future Amortization Expense Year Five | 15,500,000 | ' | 15,500,000 | ' | ' |
Future Amortization Expense, after Year Five | 112,300,000 | ' | 112,300,000 | ' | ' |
Customer Relationships [Member] | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets Gross | 268,565,000 | ' | 268,565,000 | ' | 265,810,000 |
Finite Lived Intangible Assets Accumulated Amortization | 94,147,000 | ' | 94,147,000 | ' | 80,767,000 |
Finite Lived Intangible Assets Net | 174,418,000 | ' | 174,418,000 | ' | 185,043,000 |
Other Finite Lived Intangibles [Member] | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets Gross | 70,583,000 | ' | 70,583,000 | ' | 69,350,000 |
Finite Lived Intangible Assets Accumulated Amortization | 49,446,000 | ' | 49,446,000 | ' | 43,542,000 |
Finite Lived Intangible Assets Net | 21,137,000 | ' | 21,137,000 | ' | 25,808,000 |
Pharmaceutical Distribution [Member] | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Goodwill at September 30, 2013 | ' | ' | 2,400,926,000 | ' | ' |
Goodwill, Acquired During Period | ' | ' | 0 | ' | ' |
Goodwill, Translation Adjustments | ' | ' | 0 | ' | ' |
Goodwill at June 30, 2014 | 2,400,926,000 | ' | 2,400,926,000 | ' | ' |
All Other Segments [Member] | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Goodwill at September 30, 2013 | ' | ' | 544,044,000 | ' | ' |
Goodwill, Acquired During Period | ' | ' | 5,715,000 | ' | ' |
Goodwill, Translation Adjustments | ' | ' | -737,000 | ' | ' |
Goodwill at June 30, 2014 | $549,022,000 | ' | $549,022,000 | ' | ' |
Debt_Details
Debt (Details) (USD $) | 9 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | |
Receivables Securitization Facility [Member] | Receivables Securitization Facility [Member] | Receivables Securitization Facility [Member] | Multi Currency Revolving Credit Facility [Member] | Multi Currency Revolving Credit Facility [Member] | Multi Currency Revolving Credit Facility [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2017 [Member] | Senior Notes Due 2017 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2021 [Member] | Senior Notes Due 2021 [Member] | Revolving Credit Note [Member] | Revolving Credit Note [Member] | Commercial Paper [Member] | Senior Notes Due 2024 [Member] | Senior Notes Due 2024 [Member] | ||||
London Interbank Offered Rate LIBOR [Member] | LIBOR / EURIBOR / Bankers Acceptance Stamping Fee [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000,000 | $600,000,000 | ' | $400,000,000 | ' | $500,000,000 | ' | ' | ' | ' | $500,000,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 0.75% | ' | ' | 0.90% | ' | 5.88% | 1.15% | ' | 4.88% | ' | 3.50% | ' | ' | ' | ' | 3.40% | ' |
Debt Instrument, Maturity Date, Description | ' | ' | ' | 'June 2016 | ' | ' | 'July 2018 | ' | ' | ' | '2015 | 'May 15, 2017 | ' | '2019 | ' | '2021 | ' | ' | ' | '2018 | 'May 15, 2024 | ' |
Short-term debt | ' | ' | ' | 0 | 0 | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' |
Long Term Debt | 1,995,482,000 | ' | 1,396,606,000 | ' | ' | ' | ' | ' | ' | 0 | 499,377,000 | 599,363,000 | 0 | 398,041,000 | 397,803,000 | 499,479,000 | 499,426,000 | ' | ' | ' | 498,599,000 | 0 |
Debt and Capital Lease Obligations | 1,995,482,000 | ' | 1,396,606,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | 950,000,000 | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | 1,400,000,000 | ' | ' |
Line of Credit Facility, Interest Rate Description | ' | ' | ' | 'prevailing market rates for short-term commercial paper or LIBOR plus a program fee of 75 basis points | ' | ' | '68 basis points to 130 basis points over LIBOR / EURIBOR / Bankers Acceptance Stamping Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Terms | ' | ' | ' | 'The Receivables Securitization Facility contains similar covenants to the Multi-Currency Revolving Credit Facility, with which the Company was compliant as of June 30, 2014 | ' | ' | 'The Multi-Currency Revolving Credit Facility contains covenants, including compliance with a financial leverage ratio test, as well as others that impose limitations on, among other things, indebtedness of excluded subsidiaries and asset sales, with which the Company was compliant as of June 30, 2014. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Option on Canadian Borrowings | ' | ' | ' | ' | ' | ' | 'the Canadian prime rate or the CDOR rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt, Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company has a commercial paper program whereby it may from time to time issue short-term promissory notes in an aggregate amount of up to $1.4 billion at any one time. Amounts available under the program may be borrowed, repaid, and re-borrowed from time to time. The maturities on the notes will vary, but may not exceed 365 days from the date of issuance. The notes will bear interest rates, if interest bearing, or will be sold at a discount from their face amounts. The commercial paper program does not increase the Company's borrowing capacity as it is fully backed by the Company's Multi-Currency Revolving Credit Facility. | ' | ' |
Line of Credit Facility Unused Capacity Commitment Fee Percentage | ' | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | 0.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Facility Fee Rate Effective Percentage Rate Range Minimum | ' | ' | ' | ' | ' | ' | 0.07% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Facility Fee Rate Effective Percentage Rate Range Maximum | ' | ' | ' | ' | ' | ' | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Percentage Of Face Amount Received At Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.89% | ' | ' | ' | ' | ' | ' | ' | ' | 99.72% | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.19% | ' | ' | ' | ' | ' | ' | ' | ' | 3.43% | ' |
Loss on early retirement of debt | 32,954,000 | 0 | ' | ' | ' | ' | ' | ' | ' | 31,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ability to Increase Debt Commitment Under Accordion Feature in December and March Quarters | ' | ' | ' | $250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_and_Earnin2
Stockholders' Equity and Earnings per Share (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||
In Millions, except Share data, unless otherwise specified | Nov. 30, 2013 | Nov. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 18, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Nov. 30, 2012 | Jun. 30, 2014 | Aug. 31, 2013 | Jun. 30, 2014 | Jul. 31, 2014 | 31-May-14 | Jun. 30, 2014 |
First Group of Tranches [Member] | Second Group of Tranches [Member] | Walgreens Warrant 1 [Member] | Walgreens Warrant 2 [Member] | Alliance Boots Warrant 1 [Member] | Alliance Boots Warrant 2 [Member] | November 2012 Share Repurchase Program [Member] | November 2012 Share Repurchase Program [Member] | August 2013 Share Repurchase Program [Member] | August 2013 Share Repurchase Program [Member] | May 2014 Share Repurchase Program [Member] | May 2014 Share Repurchase Program [Member] | May 2014 Share Repurchase Program [Member] | ||||||||||
Stockholders' Equity and Earnings per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Increase Percentage | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Dividends, Per Share, Declared | ' | $0.24 | $0.24 | $0.21 | $0.71 | $0.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | 225,727,000 | 231,002,000 | 228,477,000 | 231,273,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable To Share Based Payment Arrangements | ' | ' | 0 | 4,667,000 | 4,834,000 | 4,155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Call Options and Warrants | ' | ' | 0 | 0 | 2,221,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted | ' | ' | 225,727,000 | 235,669,000 | 235,532,000 | 235,428,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | ' | ' | 9,900,000 | 0 | 2,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750 | ' | $750 | ' | ' | $650 | ' |
Treasury Stock Value Acquired Cost Method | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 363 | ' | 68.6 | ' | ' | 141.6 |
Treasury Stock, Shares, Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500,000 | ' | 1,000,000 | ' | ' | 2,000,000 |
Stock Repurchase Program Remaining Authorized Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 681.4 | ' | ' | 508.4 |
Treasury Stock, Value Acquired, Cost Method Settlements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.9 | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Date from which Warrants or Rights are Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Mar-16 | 1-Mar-17 | 1-Mar-16 | 1-Mar-17 | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,348,456 | 11,348,456 | 11,348,456 | 11,348,456 | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $51.50 | $52.50 | $51.50 | $52.50 | ' | ' | ' | ' | ' | ' | ' |
Shares to Which Framework Agreement Allows Open Market Purchases | ' | ' | ' | ' | ' | ' | ' | 19,859,795 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Common Stock Purchases in Open Market Granted under Framework Agreement | ' | ' | ' | ' | ' | ' | ' | 0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value per Share of First Tranche of Warrants | ' | ' | $20.78 | ' | $20.78 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value per Share of Second Tranche of Warrants | ' | ' | $21.01 | ' | $21.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Full Value of Warrants | ' | ' | 948.5 | ' | 948.5 | ' | ' | ' | 242.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Forward Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | $51.50 | $52.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Cost of Hedge | ' | ' | $205.30 | ' | ' | ' | $163.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Warrant Dilution Intended to be Hedged with Contract | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Covered Under Derviative Purchases | ' | ' | 11,900,000 | ' | 11,900,000 | ' | 15,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation_Settlements_Details
Litigation Settlements (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Litigation Settlements [Abstract] | ' | ' | ' | ' |
Gain Loss Related to Litigation Settlement | $2,524 | $5,984 | $24,396 | $21,748 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Jun. 30, 2014 | Sep. 30, 2013 |
Fair Value of Financial Instruments [Abstract] | ' | ' |
Other Assets Fair Value Disclosure | $100,000,000 | $0 |
Long Term Debt | 1,995,482,000 | 1,396,606,000 |
Debt Instrument Fair Value | $2,070,100,000 | $1,502,000,000 |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Revenues | $30,348,154 | $21,906,648 | $87,980,419 | $63,490,127 |
Operating Income (Loss) | 110,877 | 134,646 | 571,621 | 784,209 |
Gain Loss Related to Litigation Settlement | 2,524 | 5,984 | 24,396 | 21,748 |
Warrants | -145,040 | -35,815 | -267,000 | -39,576 |
Employee severance, litigation and other | -1,142 | -19,678 | -7,411 | -21,383 |
Other (income) loss | -1,312 | 525 | -5,692 | 1,251 |
Interest expense, net | 20,903 | 18,190 | 59,209 | 55,225 |
Loss on early retirement of debt | 32,954 | 0 | 32,954 | 0 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Cumulative Effects of Changes in Accounting Principles, Noncontrolling Interest | 58,332 | 115,931 | 485,150 | 727,733 |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Operating Income (Loss) | 393,473 | 312,328 | 1,132,767 | 964,742 |
Operating Segments [Member] | Pharmaceutical Distribution [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Revenues | 29,812,837 | 21,407,853 | 86,367,923 | 62,061,060 |
Operating Income (Loss) | 359,795 | 278,728 | 1,019,506 | 866,482 |
Operating Segments [Member] | All Other Segments [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Revenues | 620,275 | 549,400 | 1,796,910 | 1,569,392 |
Operating Income (Loss) | 33,678 | 33,600 | 113,261 | 98,260 |
Intersegment Elimination [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Revenues | -84,958 | -50,605 | -184,414 | -140,325 |
Material Reconciling Items [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Gain Loss Related to Litigation Settlement | 2,524 | 5,984 | 24,396 | 21,748 |
LIFO (expense) credit | -133,237 | -122,077 | -293,647 | -123,029 |
Acquisition related intangibles amortization | -5,701 | -6,096 | -17,484 | -18,293 |
Warrants | -145,040 | -35,815 | -267,000 | -39,576 |
Employee severance, litigation and other | ($1,142) | ($19,678) | ($7,411) | ($21,383) |