Walgreens Boots Alliance (WBA) 10-Q 30 Dec 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Nov. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Walgreens Boots Alliance, Inc.
Entity Central Index Key	1618921
Current Fiscal Year End Date	-23
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	100
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Nov-14

BALANCE_SHEET_UNAUDITED

BALANCE SHEET (UNAUDITED) (USD $)	Nov. 30, 2014
In Millions, unless otherwise specified
Current Assets:
Cash and cash equivalents	$9,962
Non-Current Assets:
Other non-current assets	68
Total Assets	10,030
Current Liabilities:
Accrued expenses and other liabilities	24
Due to parent	73
Total Current Liabilities	97
Non-Current Liabilities:
Long-term debt	10,010	[1]
Equity:
Preferred stock $.01 par value; authorized 32 million shares, none issued or outstanding	0
Common stock $.01 par value; authorized 3.2 billion shares, 100 issued and outstanding at November 30, 2014	0
Paid-in capital	0
Accumulated deficit	-14
Accumulated other comprehensive loss	-63
Total Equity	-77
Total Liabilities & Equity	$10,030
[1]	All notes are presented net of unamortized discount.

BALANCE_SHEET_UNAUDITED_Parent

BALANCE SHEET (UNAUDITED) (Parenthetical) (USD $)	Nov. 30, 2014
Equity:
Preferred stock, par value (in dollars per share)	$0.01
Preferred stock, authorized (in shares)	32,000,000
Preferred stock, issued (in shares)	0
Preferred stock, outstanding (in shares)	0
Common stock, par value (in dollars per share)	$0.01
Common stock, authorized (in shares)	3,200,000,000
Common stock, issued (in shares)	100
Common stock, outstanding (in shares)	100

STATEMENT_OF_EQUITY_UNAUDITED

STATEMENT OF EQUITY (UNAUDITED) (USD $)	Common Stock [Member]	Pain-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
In Millions, except Share data
Beginning Balance at Aug. 31, 2014	$0	$0	$0	$0	$0
Beginning Balance (in shares) at Aug. 31, 2014	0
Net Loss	0	0	0	-14	-14
Share issuance	0	0	0	0	0
Share issuance (in shares)	100
Other Comprehensive loss	0	0	-63	0	-63
Ending Balance at Nov. 30, 2014	$0	$0	($63)	($14)	($77)
Ending Balance (in shares) at Nov. 30, 2014	100				100

STATEMENT_OF_OPERATIONS_UNAUDI

STATEMENT OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2014
STATEMENT OF OPERATIONS (UNAUDITED) [Abstract]
Net sales	$0
Cost of sales	0
Gross Profit	0
Selling, general and administrative expenses	0
Operating Income	0
Interest expense, net	14
Loss Before Income Tax Provision	14
Income tax benefit	0
Net Loss	$14

STATEMENT_OF_COMPREHENSIVE_LOS

STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2014
STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED) [Abstract]
Net Loss	($14)
Other comprehensive loss, net of tax:
Unrealized loss on cash flow hedges	-63
Total Comprehensive Loss	($77)

STATEMENT_OF_CASH_FLOWS_UNAUDI

STATEMENT OF CASH FLOWS (UNAUDITED) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2014
Cash Flows from Operating Activities:
Net Loss	($14)
Changes in operating assets and liabilities -
Accrued expenses and other liabilities	14
Net cash provided by operating activities	0
Cash Flows from Investing Activities:
Net cash used for investing activities	0
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	10,020
Payment of debt issuance costs	-48
Net cash provided by financing activities	9,972
Effect of exchange rate changes on cash and cash equivalents	-10
Changes in Cash and Cash Equivalents:
Net increase in cash and cash equivalents	9,962
Cash and cash equivalents at beginning of year	0
Cash and cash equivalents at end of year	$9,962

Organization

Organization	3 Months Ended
	Nov. 30, 2014
Organization [Abstract]
Organization	Note 1.	Organization
	Walgreens Boots Alliance, Inc. (WBA or the Company) is a new corporation incorporated on September 2, 2014 under the laws of Delaware and is currently a direct 100% owned finance subsidiary of Walgreen Co. (Walgreens).  Walgreens Boots Alliance, Inc. is the issuer of several series of unsecured, unsubordinated notes in connection with the financing of a portion of the cash consideration payable in connection with the pending second step transaction, as described below, the refinancing of substantially all of Alliance Boots' total borrowings in connection with the second step transaction and/or the payment of related fees and expenses.  Following the completion of the second step transaction, a portion of the net proceeds from the issuance of the notes may also be used for general corporate purposes, including the repayment and/or refinancing of existing WBA or Walgreen Co. obligations.  Upon initial issuance, Walgreen Co. issued a full and unconditional guarantee on an unsecured and unsubordinated basis with respect to the notes.
	In connection with the pending reorganization discussed below, WBA will become the holding company operated through its direct and indirect operating subsidiaries and will initially consist of the combined assets and operations of Walgreens and Alliance Boots GmbH (Alliance Boots).  The reorganization is conditioned upon the second step transaction being completed immediately following the completion of the reorganization.
	Pending Alliance Boots GmbH Acquisition
	On August 2, 2012, pursuant to a Purchase and Option Agreement dated June 18, 2012, by and among Walgreen Co., Alliance Boots GmbH and AB Acquisitions Holdings Limited (as amended, the Purchase and Option Agreement), Walgreen Co. acquired 45% of the issued and outstanding share capital of Alliance Boots in exchange for $4.025 billion in cash and approximately 83.4 million shares of common stock.  The Purchase and Option Agreement provided, subject to the satisfaction or waiver of specified conditions, a call option that gives Walgreen Co. the right, but not the obligation, to acquire the remaining 55% of Alliance Boots (the second step transaction) in exchange for an additional £3.1 billion in cash (approximately $4.9 billion using November 30, 2014 exchange rates) as well as an additional 144.3 million shares, subject to certain potential adjustments (the call option).  On August 5, 2014, the Purchase and Option Agreement was amended to permit the exercise of the call option beginning on that date, and Walgreens, through an indirectly wholly-owned subsidiary to which Walgreens previously assigned its rights to the call option, exercised the call option on August 5, 2014.
	Reorganization
	On October 17, 2014, Walgreens entered into an Agreement and Plan of Merger (the Reorganization Merger Agreement) by and among Walgreens, Ontario Merger Sub, Inc., an Illinois corporation and indirect wholly owned subsidiary of Walgreens (Merger Sub), and WBA. The Reorganization Merger Agreement provides that Merger Sub will merge with and into Walgreens (the Reorg Merger), with Walgreens surviving the Reorg Merger as a wholly owned subsidiary of WBA. At the effective time of the Reorg Merger, issued and outstanding shares of Walgreens common stock will be converted automatically into the right to receive shares of WBA common stock, on a one-for-one basis. Walgreens shareholders will own the same number of shares of WBA common stock as they own of Walgreens common stock immediately prior to the completion of the Reorg Merger, and, after taking into account the completion of the second step transaction, such shares will represent the same ownership percentage of WBA as they would have of Walgreens immediately following the completion of the second step transaction without the Reorg Merger.  The completion of the Reorg Merger depends on the satisfaction or waiver of several conditions.  Walgreens may terminate the Reorganization Merger Agreement at any time, even after adoption and approval by Walgreens shareholders, if Walgreens board of directors determines to do so. In addition, the Reorganization Merger Agreement will automatically terminate upon the termination of the Purchase and Option Agreement prior to the completion of the second step transaction.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Nov. 30, 2014
Basis of Presentation [Abstract]
Basis of Presentation	Note 2.	Basis of Presentation
	The financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting.  The Balance Sheet and the Statement of Equity as of November 30, 2014, the Statement of Operations, Statement of Comprehensive Loss and Statement of Cash Flows for the period beginning September 2, 2014 and ending November 30, 2014, have been prepared without audit.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.
	In the opinion of the Company, the financial statements for the unaudited interim period presented include all adjustments (consisting only of normal recurring adjustments) necessary to present a fair statement of the results for such interim period.
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to use judgment in the application of accounting policies, including making estimates and assumptions.  The Company bases its estimates on the information available at the time, its experience and on various other assumptions believed to be reasonable under the circumstances.  Adjustments may be made in subsequent periods to reflect more current estimates and assumptions about matters that are inherently uncertain.  Actual results may differ.

ShortTerm_Borrowings_and_LongT

Short-Term Borrowings and Long-Term Debt	3 Months Ended
	Nov. 30, 2014
Short-Term Borrowings and Long-Term Debt [Abstract]
Short-Term Borrowings and Long-Term Debt	Note 3.	Short-Term Borrowings and Long-Term Debt
	Short-term borrowings and long-term debt consist of the following (all amounts are presented in millions of U.S. Dollars.  Debt issuances are denominated in U.S. Dollars, unless otherwise noted):
			November 30,
			2014
	Long-Term Debt(1)
	Unsecured variable rate notes due 2016		$	750
	1.750% unsecured notes due 2017			749
	2.700% unsecured notes due 2019			1,248
	2.875% unsecured Pound Sterling notes due 2020(2)			624
	3.300% unsecured notes due 2021			1,247
	3.800% unsecured notes due 2024			1,995
	3.600% unsecured Pound Sterling notes due 2025(2)			469
	2.125% unsecured Euro notes due 2026(2)			931
	4.500% unsecured notes due 2034			497
	4.800% unsecured notes due 2044			1,500
				10,010
	Less current maturities			-
	Total long-term debt		$	10,010
		-1	All notes are presented net of unamortized discount.
		-2	Pound Sterling denominated debt is translated at the November 30, 2014 spot rate of $1.56/£.  Euro denominated debt is translated at the November 30, 2014 spot rate of $1.24/€.
	$8.0 Billion Note Issuance
	On November 18, 2014, the Company received net proceeds from a public offering of $7.9 billion of U.S. denominated notes with varying maturities and interest rates, the majority of which are fixed rate.  The notes are unsecured, unsubordinated debt obligations of the Company and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of the Company from time to time outstanding.  The notes are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Walgreen Co. and its successors.  Total issuance costs relating to the notes, including underwriting discounts and fees, were $44 million.  The fair value of the notes as of November 30, 2014 was $8.2 billion.  Fair value for these notes was determined based upon quoted market prices.
	The following table details each tranche of notes issued:
	Notes Issued			Maturity Date	Interest Rate	Interest Payment Dates
	(In millions)
	$	750		18-May-16	Variable; three-month U.S. Dollar LIBOR, reset quarterly, plus 45 basis points	February 18, May 18, August 18, and November 18; commencing on February 18, 2015.
		750		17-Nov-17	Fixed 1.750%	May 17 and November 17; commencing on May 17, 2015
		1,250		18-Nov-19	Fixed 2.700%	May 18 and November 18; commencing on May 18, 2015
		1,250		18-Nov-21	Fixed 3.300%	May 18 and November 18; commencing on May 18, 2015
		2,000		18-Nov-24	Fixed 3.800%	May 18 and November 18; commencing on May 18, 2015
		500		18-Nov-34	Fixed 4.500%	May 18 and November 18; commencing on May 18, 2015
		1,500		18-Nov-44	Fixed 4.800%	May 18 and November 18; commencing on May 18, 2015
	$	8,000
	Redemption Option
	The Company may redeem (i) the notes due 2017, at any time in whole or from time to time in part, (ii) the notes due 2019, at any time prior to October 18, 2019 in whole or from time to time prior to October 18, 2019 in part, (iii) the notes due 2021, at any time prior to September 18, 2021 in whole or from time to time prior to September 18, 2021 in part, (iv) the notes due 2024, at any time prior to August 18, 2024 in whole or from time to time prior to August 18, 2024 in part, (v) the notes due 2034, at any time prior to May 18, 2034 in whole or from time to time prior to May 18, 2034 in part, and (vi) the notes due 2044, at any time prior to May 18, 2044 in whole or from time to time prior to May 18, 2044 in part, in each case, at the Company’s option, for an amount equal to the sum of accrued and unpaid interest plus a redemption price equal to the greater of :
	(1) 100% of the principal amount of the fixed rate notes being redeemed; and
	(2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the redemption date), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the applicable series of notes), plus 15 basis points for the notes due 2017, 15 basis points for the notes due 2019, 20 basis points for the notes due 2021, 20 basis points for the notes due 2024, 20 basis points for the notes due 2034 and 25 basis points for the notes due 2044.
	In addition, at any time on or after October 18, 2019 with respect to the notes due 2019, September 18, 2021 with respect to the notes due 2021, August 18, 2024 with respect to the notes due 2024, May 18, 2034 with respect to the notes due 2034, or May 18, 2044 with respect to the notes due 2044, the Company may redeem some or all of the applicable series of fixed rate notes at its option, at a redemption price equal to 100% of the principal amount of the applicable fixed rate notes being redeemed plus accrued and unpaid interest on the fixed rate notes being redeemed to, but excluding, the redemption date.
	Special Mandatory Redemption and Change in Control
	The terms of the notes will require the Company to retain the proceeds of the notes until the date on which the second step transaction is consummated (the Second Step Closing Date).  In the event that the Second Step Closing Date does not occur on or prior to August 19, 2015 or if the Purchase and Option Agreement is terminated at any time on or prior to August 19, 2015 (each of such events being a Special Mandatory Redemption Trigger), then the Company will redeem in whole and not in part the aggregate principal amount of the notes outstanding at a redemption price equal to 101% of the aggregate principal amount of the notes plus accrued and unpaid interest from and including the date of the initial issuance, or the most recent date to which interest has been paid, whichever is later. Upon the occurrence of the Second Step Closing Date, the provisions described in this paragraph will cease to apply.
	If the Company experiences a change of control triggering event, unless the Company has exercised its option to redeem the fixed rate notes or has defeased the notes as described in the indenture, the Company will be required to offer payment of cash equal to 101% of the aggregate principal amount of the notes plus accrued and unpaid interest.
	£700 Million and €750 Million Notes Issuance
	On November 20, 2014, the Company issued three series of debt securities denominated in Euro and Pound Sterling, with varying maturities and interest rates.  Interest on all notes is payable annually on November 20, commencing on November 20, 2015.  The notes are unsecured, unsubordinated debt obligations and rank equally in right of payment with all of the Company’s other unsecured and unsubordinated debt from time to time outstanding.  The notes are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Walgreen Co. and its successors.  Total issuance costs relating to the notes, including underwriting discounts and fees, were $11 million.  The fair value of the notes as of November 30, 2014 was $2.0 billion.  Fair value for these notes was determined based upon quoted market prices.
	The following table details each tranche of Euro and Pound Sterling notes issued:
	Notes Issued			Maturity Date	Interest Rate
	(In millions)
	Euro Notes:
	€	750		20-Nov-26	Fixed 2.125%
	Pound Sterling Notes:
	£	400		20-Nov-20	Fixed 2.875%
		300		20-Nov-25	Fixed 3.600%
	£	700
	Redemption Option
	The Company may redeem (i) the Euro notes, at any time prior to August 20, 2026 in whole or from time to time prior to August 20, 2026 in part, (ii) the Pound Sterling notes due 2020, at any time prior to October 20, 2020 in whole or from time to time prior to October 20, 2020 in part, and (iii) the Pound Sterling notes due 2025, at any time prior to August 20, 2025 in whole or from time to time prior to August 20, 2025 in part, in each case, at the Company’s option, for an amount equal to the sum of accrued and unpaid interest plus at a redemption price equal to the greater of:
	(1) 100% of the principal amount of the notes to be redeemed; and
	(2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the redemption date), discounted to the redemption date on an annual basis at the applicable Comparable Government Bond Rate (as defined in the applicable series of notes), plus 20 basis points for the Euro notes, 20 basis points for the Pound Sterling notes due 2020 and 20 basis points for the Pound Sterling notes due 2025.
	In addition, at any time on or after August 20, 2026 with respect to the Euro notes, October 20, 2020 with respect to the Pound Sterling notes due 2020, or August 20, 2025 with respect to the Pound Sterling notes due 2025, the Company may redeem some or all of the applicable series of notes at its option, at a redemption price equal to 100% of the principal amount of the applicable notes to be redeemed, plus, in every case, accrued and unpaid interest on the notes to be redeemed to, but excluding, the redemption date.
	Special Mandatory Redemption and Change in Control
	The terms of the notes will require the Company to retain the proceeds of the notes until the Second Step Closing Date.  In the event that the Second Step Closing Date does not occur on or prior to August 19, 2015 or if the Purchase and Option Agreement is terminated at any time on or prior to August 19, 2015 (each of such events being a Special Mandatory Redemption Trigger), then the Company will redeem in whole and not in part the aggregate principal amount of the notes outstanding at a redemption price equal to 101% of the aggregate principal amount of the notes plus accrued and unpaid interest from and including the date of the initial issuance, or the most recent date to which interest has been paid, whichever is later.  Upon the occurrence of the Second Step Closing Date, the provisions described in this paragraph will cease to apply.
	If the Company experiences a change of control triggering event, unless the Company has exercised its option to redeem the fixed rate notes or has defeased the notes as described in the indenture, the Company will be required to offer payment of cash equal to 101% of the aggregate principal amount of the notes plus accrued and unpaid interest.
	Other Borrowings
	On November 10, 2014, the Company, along with its parent, Walgreens, entered into a Term Loan Credit Agreement (the Term Loan Agreement) providing Walgreens or, to the extent the Holdco Reorganization (as defined in the Term Loan Agreement) is consummated on or prior to the Alliance Boots Acquisition Closing Date (as defined in the Term Loan Agreement), the Company (Walgreens or the Company, as applicable, the Borrower), with the ability to borrow up to £1.45 billion on an unsecured basis to finance a portion of the Alliance Boots second step transaction, repay or refinance certain indebtedness of Walgreens, Alliance Boots GmbH and their respective subsidiaries and to pay related transaction costs.  Borrowings under the Term Loan Agreement will bear interest at a fluctuating rate per annum equal to the reserve adjusted Eurocurrency rate plus an applicable margin based on the Borrower’s credit ratings.
	On November 10, 2014, the Company, along with its parent, Walgreens, entered into a five-year unsecured, multicurrency revolving credit agreement (the Revolving Credit Agreement), replacing Walgreens prior agreements dated July 20, 2011 and July 23, 2012. Walgreens will be the initial borrower under the Revolving Credit Agreement.  To the extent that the Holdco Reorganization (as defined in the Revolving Credit Agreement) is consummated on or prior to the Alliance Boots Acquisition Closing Date (as defined in the Revolving Credit Agreement) (and subject to the satisfaction (or waiver) of certain other conditions set forth therein), the Company will also be a borrower under the Revolving Credit Agreement. The new unsecured revolving credit agreement totals $2.25 billion, of which $375 million will be available for the issuance of letters of credit.  The total availability under the facility will increase to $3.0 billion, of which $500 million will be available for the issuance of letters of credit, upon the affirmative vote of the majority of common shares of Walgreens represented and entitled to vote at a Walgreens shareholder meeting to approve the issuance of the necessary shares to complete the second step acquisition of Alliance Boots.  The issuance of letters of credit reduces the aggregate amount otherwise available under the revolving credit agreement for the making of revolving loans  Borrowings under the Revolving Credit Agreement will bear interest at a fluctuating rate per annum equal to, at the applicable borrower’s option, the alternate base rate or the reserve adjusted Eurocurrency rate, in each case, plus an applicable margin calculated based on Walgreens’ or, to the extent the Holdco Reorganization is consummated on or prior to the Alliance Boots Acquisition Closing Date, the Company’s credit ratings. The Company’s ability to access these facilities is subject to compliance with the terms and conditions of the credit facilities, including financial covenants.  The covenants require the Company to maintain certain financial ratios related to the proportion of consolidated debt to total capitalization and priority debt, along with limitations on the sale of assets and purchases of investments.   At November 30, 2014, the Company was in compliance with all such covenants.  Total upfront fees related to the term loan and revolving credit agreement were $14 million.  The Company pays a facility fee to the financing banks to keep these lines of credit active.  At November 30, 2014, there were no letters of credit issued against these credit facilities.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 2014
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 4.	Fair Value Measurements
	The Company measures its assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures.  ASC Topic 820 defines fair value as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.  In addition, it establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels:
	Level 1 -	Quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.
	Level 2 -	Observable inputs other than quoted prices in active markets.
	Level 3 -	Unobservable inputs for which there is little or no market data available. The fair value hierarchy gives the lowest priority to Level 3 inputs.
	Assets measured at fair value on a recurring basis were as follows (In millions):
			30-Nov-14		Level 1		Level 2		Level 3
	Assets:
	Money market and commercial paper		$	9,782	$	9,782	$	-	$	-
	The Company reports its debt instruments under the guidance of ASC Topic 825, Financial Instruments, which requires disclosure of the fair value of the Company’s debt in the footnotes to the financial statements.  See Note 3 for further details.

Related_Party

Related Party	3 Months Ended
	Nov. 30, 2014
Related Party [Abstract]
Related Party	Note 5.	Related Party
	Walgreen Co., on behalf of Walgreens Boots Alliance, Inc., entered into a series of forward starting interest rate swap transactions locking in the then current three-month LIBOR interest rate on $1.75 billion of anticipated debt issuance, with maturity tenures of 10 and 30 years.  The swap transactions were designated as cash flow hedges where the changes in fair value were recorded in other comprehensive income.  The cash flow hedges were terminated upon issuance of the hedged debt in November 2014, resulting in $63 million of unrecognized loss that was transferred from Walgreens to WBA and recorded within other comprehensive income.  The loss is amortized through interest expense over the period of the related debt using the effective interest method.  The related tax benefit is presented as an offset to “due to parent” on the Company’s Balance Sheet as the underlying tax asset was not transferred to WBA.  Additionally, certain debt issuance costs incurred by WBA were paid by Walgreens.

Subsequent_Events

Subsequent Events	3 Months Ended
	Nov. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	Note 6.	Subsequent Events
	On December 19, 2014, Walgreens and WBA, entered into a Revolving Credit Agreement (the 364-Day Credit Agreement) with the lenders party thereto and Mizuho Bank, Ltd., as administrative agent.  The 364-Day Credit Agreement is a 364-day unsecured, multicurrency revolving facility.  The aggregate commitment of all lenders under the 364-Day Credit Agreement will be equal to $750 million.  Walgreens will be the initial borrower under the 364-Day Credit Agreement.  To the extent that the Reorg Merger is consummated on or prior to the date of the consummation of the second step transaction (and subject to the satisfaction (or waiver) of certain other conditions set forth therein), WBA will also be a borrower under the 364-Day Credit Agreement.  To the extent the Reorg Merger is consummated on or prior to the date of the consummation of the second step transaction, Walgreens will guarantee the punctual payment when due, whether at stated maturity, by acceleration or otherwise, of all obligations of WBA under the 364-Day Credit Agreement, which guarantee shall remain in full force and effect until certain conditions are met.
	On December 29, 2014, Walgreens shareholders voted to approve all proposals related to the second step transaction and the Reorg Merger.  WBA currently expects that the second step transaction and the Reorg Merger will be completed on December 31, subject to the satisfaction of customary closing conditions.

ShortTerm_Borrowings_and_LongT1

Short-Term Borrowings and Long-Term Debt (Tables)	3 Months Ended
	Nov. 30, 2014
Debt Instrument [Line Items]
Long-Term Debt	Short-term borrowings and long-term debt consist of the following (all amounts are presented in millions of U.S. Dollars.  Debt issuances are denominated in U.S. Dollars, unless otherwise noted):
			November 30,
			2014
	Long-Term Debt(1)
	Unsecured variable rate notes due 2016		$	750
	1.750% unsecured notes due 2017			749
	2.700% unsecured notes due 2019			1,248
	2.875% unsecured Pound Sterling notes due 2020(2)			624
	3.300% unsecured notes due 2021			1,247
	3.800% unsecured notes due 2024			1,995
	3.600% unsecured Pound Sterling notes due 2025(2)			469
	2.125% unsecured Euro notes due 2026(2)			931
	4.500% unsecured notes due 2034			497
	4.800% unsecured notes due 2044			1,500
				10,010
	Less current maturities			-
	Total long-term debt		$	10,010
		-1	All notes are presented net of unamortized discount.
		-2	Pound Sterling denominated debt is translated at the November 30, 2014 spot rate of $1.56/£.  Euro denominated debt is translated at the November 30, 2014 spot rate of $1.24/€.
US Dollar Notes [Member]
Debt Instrument [Line Items]
Details of each tranche of notes issued	The following table details each tranche of notes issued:
	Notes Issued			Maturity Date	Interest Rate	Interest Payment Dates
	(In millions)
	$	750		18-May-16	Variable; three-month U.S. Dollar LIBOR, reset quarterly, plus 45 basis points	February 18, May 18, August 18, and November 18; commencing on February 18, 2015.
		750		17-Nov-17	Fixed 1.750%	May 17 and November 17; commencing on May 17, 2015
		1,250		18-Nov-19	Fixed 2.700%	May 18 and November 18; commencing on May 18, 2015
		1,250		18-Nov-21	Fixed 3.300%	May 18 and November 18; commencing on May 18, 2015
		2,000		18-Nov-24	Fixed 3.800%	May 18 and November 18; commencing on May 18, 2015
		500		18-Nov-34	Fixed 4.500%	May 18 and November 18; commencing on May 18, 2015
		1,500		18-Nov-44	Fixed 4.800%	May 18 and November 18; commencing on May 18, 2015
	$	8,000
Euro and Pound Sterling Notes [Member]
Debt Instrument [Line Items]
Details of each tranche of notes issued	The following table details each tranche of Euro and Pound Sterling notes issued:
	Notes Issued			Maturity Date	Interest Rate
	(In millions)
	Euro Notes:
	€	750		20-Nov-26	Fixed 2.125%
	Pound Sterling Notes:
	£	400		20-Nov-20	Fixed 2.875%
		300		20-Nov-25	Fixed 3.600%
	£	700

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2014
Fair Value Measurements [Abstract]
Assets measured at fair value on a recurring basis	Assets measured at fair value on a recurring basis were as follows (In millions):
		30-Nov-14		Level 1		Level 2		Level 3
	Assets:
	Money market and commercial paper	$	9,782	$	9,782	$	-	$	-

Organization_Details

Organization (Details) (Walgreen Co. [Member])	3 Months Ended
Share data in Millions, unless otherwise specified	Nov. 30, 2014	Nov. 30, 2014
	USD ($)	GBP (£)
Business Acquisition [Line Items]
Percentage of ownership by parent company (in hundredths)	100.00%
Percentage of direct ownership by parent company (in hundredths)	45.00%
Cash paid by parent company to acquire investment	$4,025,000,000
Shares issued for investment by parent compant (in shares)	83.4
Remaining ownership subject to call option (in hundredths)	55.00%
Cash price to exercise call option by parent	$4,900,000,000	£ 3,100,000,000
Shares to be issued by parent upon exercise of call option (in shares)	144.3

ShortTerm_Borrowings_and_LongT2

Short-Term Borrowings and Long-Term Debt (Details) (USD $)	Nov. 30, 2014
In Millions, unless otherwise specified
Debt Instrument [Line Items]
Total long-term debt including current maturities	$10,010	[1]
Less current maturities	0	[1]
Total long term debt	10,010	[1]
Unsecured variable rate notes due 2016 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	750	[1]
1.750% unsecured notes due 2017 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	749	[1]
2.700% unsecured notes due 2019 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	1,248	[1]
2.875% unsecured Pound Sterling notes due 2020 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	624	[1],[2]
3.300% unsecured notes due 2021 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	1,247	[1]
3.800% unsecured notes due 2024 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	1,995	[1]
3.600% unsecured Pound Sterling notes due 2025 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	469	[1],[2]
2.125% unsecured Euro notes due 2026 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	931	[1],[2]
Spot rate	1.24
4.500% unsecured notes due 2034 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	497	[1]
4.800% unsecured notes due 2044 [Member]
Debt Instrument [Line Items]
Total long-term debt including current maturities	$1,500	[1]
Pound Sterling Notes [Member]
Debt Instrument [Line Items]
Spot rate	1.56
[1]	All notes are presented net of unamortized discount.
[2]	Pound Sterling denominated debt is translated at the November 30, 2014 spot rate of $1.56/Pound Sterling. Euro denominated debt is translated at the November 30, 2014 spot rate of $1.24/Euro.

ShortTerm_Borrowings_and_LongT3

Short-Term Borrowings and Long-Term Debt, Long-Term Debt (Details)

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Nov. 30, 2014

Term loan [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Letter of Credit [Member]

Letter of Credit [Member]

Term loan and revolving credit agreement [Member]

Unsecured variable rate notes due 2016 [Member]

1.750% unsecured notes due 2017 [Member]

2.700% unsecured notes due 2019 [Member]

2.875% unsecured Pound Sterling notes due 2020 [Member]

3.300% unsecured notes due 2021 [Member]

3.800% unsecured notes due 2024 [Member]

3.600% unsecured Pound Sterling notes due 2025 [Member]

2.125% unsecured Euro notes due 2026 [Member]

4.500% unsecured notes due 2034 [Member]

4.800% unsecured notes due 2044 [Member]

US Dollar Notes [Member]

Pound Sterling Notes [Member]

Euro and Pound Sterling Notes [Member]

GBP (£)

USD ($)

Upon the affirmative vote [Member]

USD ($)

Upon the affirmative vote [Member]

USD ($)

USD ($)

USD ($)

USD ($)

GBP (£)

USD ($)

USD ($)

GBP (£)

EUR (€)

USD ($)

USD ($)

USD ($)

GBP (£)

USD ($)

USD ($)

USD ($)

Long-Term Debt [Abstract]

Notes Issued

$750,000,000

$750,000,000

$1,250,000,000

£ 400,000,000

$1,250,000,000

$2,000,000,000

£ 300,000,000

€ 750,000,000

$500,000,000

$1,500,000,000

$8,000,000,000

£ 700,000,000

Maturity Date

18-May-16

17-Nov-17

18-Nov-19

20-Nov-20

18-Nov-21

18-Nov-24

20-Nov-25

20-Nov-26

18-Nov-34

18-Nov-44

Interest Rate

Variable; three-month U.S. Dollar LIBOR, reset quarterly, plus 45 basis points

Fixed 1.750%

Fixed 2.700%

Fixed 2.875%

Fixed 3.300%

Fixed 3.800%

Fixed 3.600%

Fixed 2.125%

Fixed 4.500%

Fixed 4.800%

Interest Payment Dates

February 18, May 18, August 18, and November 18; commencing on February 18, 2015.

May 17 and November 17; commencing on May 17, 2015

May 18 and November 18; commencing on May 18, 2015

May 18 and November 18; commencing on May 18, 2015

May 18 and November 18; commencing on May 18, 2015

May 18 and November 18; commencing on May 18, 2015

May 18 and November 18; commencing on May 18, 2015

Debt instrument, description of variable rate basis

Three-month U.S. Dollar LIBOR

Basis spread on variable rate (in hundredths)

0.45%

Fixed interest rate (in hundredths)

1.75%

2.70%

3.30%

3.80%

4.50%

4.80%

Net proceeds from notes payable

7,900,000,000

Total issuance costs

44,000,000

11,000,000

Fair value of the notes

8,200,000,000

2,000,000,000

Maturity date description

At any time in whole or from time to time in part

At any time prior to October 18, 2019 in whole or from time to time prior to October 18, 2019 in part

at any time prior to September 18, 2021 in whole or from time to time prior to September 18, 2021 in part

At any time prior to August 18, 2024 in whole or from time to time prior to August 18, 2024 in part

At any time prior to May 18, 2034 in whole or from time to time prior to May 18, 2034 in part

At any time prior to May 18, 2044 in whole or from time to time prior to May 18, 2044 in part

Percentage of principal amount of fixed rate notes can be redeemed (in hundredths)

100.00%

Redemption of notes description

Redemption price equal to the greater of : (1) 100% of the principal amount of the fixed rate notes being redeemed; and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the redemption date), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the applicable series of notes), plus 15 basis points for the notes due 2017, 15 basis points for the notes due 2019, 20 basis points for the notes due 2021, 20 basis points for the notes due 2024, 20 basis points for the notes due 2034 and 25 basis points for the notes due 2044.

(1) 100% of the principal amount of the notes to be redeemed; and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the redemption date), discounted to the redemption date on an annual basis at the applicable Comparable Government Bond Rate (as defined in the applicable series of notes), plus 20 basis points for the Euro notes, 20 basis points for the Pound Sterling notes due 2020 and 20 basis points for the Pound Sterling notes due 2025.

Basis points added to treasury rate to calculate redemption rate

15

15

20

20

20

25

20

Percentage of redemption price (in hundredths)

100.00%

100.00%

Percentage of principal amount required on triggering event to repurchase notes (in hundredths)

101.00%

101.00%

Line of Credit Facility [Line Items]

Maximum borrowing capacity

1,450,000,000

2,250,000,000

3,000,000,000

375,000,000

500,000,000

Term of facility

5 years

Fees related to borrowings

$14,000,000

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Recurring [Member], USD $)	Nov. 30, 2014
In Millions, unless otherwise specified
Assets [Abstract]
Money market and commercial paper	$9,782
Level 1 [Member]
Assets [Abstract]
Money market and commercial paper	9,782
Level 2 [Member]
Assets [Abstract]
Money market and commercial paper	0
Level 3 [Member]
Assets [Abstract]
Money market and commercial paper	$0

Related_Party_Details

Related Party (Details) (USD $)	3 Months Ended
	Nov. 30, 2014
Related Party [Abstract]
Description of variable rate spread basis	three-month LIBOR
Notional amount	$1,750,000,000
Maturity years minimum	10 years
Maturity years maximum	30 years
Unrealized loss on cash flow hedges	($63,000,000)

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Dec. 19, 2014
Subsequent Event [Member]
Subsequent Event [Line Items]
Term of credit agreement	364 days
Aggregate commitment amount of all lenders	$750