Walgreens Boots Alliance (WBA) 10-Q 5 Jan 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Nov. 30, 2016	Dec. 31, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Walgreens Boots Alliance, Inc.
Entity Central Index Key	1,618,921
Current Fiscal Year End Date	--08-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,079,409,628
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2016

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions		Nov. 30, 2016	Aug. 31, 2016
Current Assets:
Cash and cash equivalents		$ 9,598	$ 9,807
Accounts receivable, net		6,138	6,260
Inventories		10,039	8,956
Other current assets		893	860
Total Current Assets		26,668	25,883
Non-Current Assets:
Property, plant and equipment, net		13,709	14,335
Goodwill		15,203	15,527
Intangible assets, net		9,728	10,302
Equity method investments (see Note 4)		6,136	6,174
Other non-current assets		468	467
Total Non-Current Assets		45,244	46,805
Total Assets		71,912	72,688
Current Liabilities:
Short-term borrowings	[1]	1,095	323
Trade accounts payable (see Note 17)		11,372	11,000
Accrued expenses and other liabilities		4,880	5,484
Income taxes		382	206
Total Current Liabilities		17,729	17,013
Non-Current Liabilities:
Long-term debt	[1]	17,777	18,705
Deferred income taxes		2,516	2,644
Other non-current liabilities		4,198	4,045
Total Non-Current Liabilities		24,491	25,394
Commitments and Contingencies (see Note 9)
Equity:
Preferred stock $.01 par value; authorized 32 million shares, none issued		0	0
Common stock $.01 par value; authorized 3.2 billion shares; issued 1,172,513,618 at November 30, 2016 and August 31, 2016		12	12
Paid-in capital		10,132	10,111
Employee stock loan receivable		0	(1)
Retained earnings		28,332	27,684
Accumulated other comprehensive (loss) income		(3,810)	(2,992)
Treasury stock, at cost; 93,413,482 shares at November 30, 2016 and 89,527,027 at August 31, 2016		(5,341)	(4,934)
Total Walgreens Boots Alliance, Inc. Shareholders' Equity		29,325	29,880
Noncontrolling interests		367	401
Total Equity		29,692	30,281
Total Liabilities and Equity		$ 71,912	$ 72,688
[1]	All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively.

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Nov. 30, 2016	Aug. 31, 2016
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	32,000,000	32,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	3,200,000,000	3,200,000,000
Common stock, issued (in shares)	1,172,513,618	1,172,513,618
Treasury stock, at cost (in shares)	93,413,482	89,527,027

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENT OF EQUITY (UNAUDITED) - USD ($) $ in Millions	Common Stock [Member]	Treasury Stock [Member]	Paid-In Capital [Member]	Employee Stock Loan Receivable [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Retained Earnings [Member]	Noncontrolling Interests [Member]	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings								$ 1,117
Beginning Balance at Aug. 31, 2016	$ 12	$ (4,934)	$ 10,111	$ (1)	$ (2,992)	$ 27,684	$ 401	30,281
Beginning Balance (in shares) at Aug. 31, 2016	1,082,986,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 0	0	0	0	0	1,054	13	1,067
Other comprehensive income (loss), net of tax	0	0	0	0	(818)	0	(47)	(865)
Dividends declared ($0.375 per share)	0	0	0	0	0	(406)	0	(406)
Treasury stock purchases	$ 0	(457)	0	0	0	0	0	(457)
Treasury stock purchases (in shares)	(5,600,000)
Employee stock purchase and option plans	$ 0	50	(5)	1	0	0	0	46
Employee stock purchase and option plans (in shares)	1,713,545
Stock-based compensation	$ 0	0	26	0	0	0	0	26
Ending Balance at Nov. 30, 2016	$ 12	$ (5,341)	$ 10,132	$ 0	$ (3,810)	$ 28,332	$ 367	$ 29,692
Ending Balance (in shares) at Nov. 30, 2016	1,079,100,136

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENT OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
CONSOLIDATED CONDENSED STATEMENT OF EQUITY (UNAUDITED) [Abstract]
Cash dividends declared (in dollars per share)	$ 0.375	$ 0.360

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (UNAUDUITED) [Abstract]
Sales	$ 28,501	$ 29,033
Cost of sales	21,385	21,614
Gross Profit	7,116	7,419
Selling, general and administrative expenses	5,686	5,951
Equity earnings in AmerisourceBergen	17	0
Operating Income	1,447	1,468
Other income (expense)	1	(57)
Earnings Before Interest and Income Tax Provision	1,448	1,411
Interest expense, net	173	138
Earnings Before Income Tax Provision	1,275	1,273
Income tax provision	220	167
Post tax earnings from other equity method investments	12	11
Net Earnings	1,067	1,117
Net earnings attributable to noncontrolling interests	13	7
Net Earnings Attributable to Walgreens Boots Alliance, Inc.	$ 1,054	$ 1,110
Net earnings per common share:
Basic (in dollars per share)	$ 0.97	$ 1.02
Diluted (in dollars per share)	0.97	1.01
Dividends declared per share (in dollars per share)	$ 0.375	$ 0.360
Weighted average common shares outstanding:
Basic (in shares)	1,082.1	1,089
Diluted (in shares)	1,088.3	1,098.6

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Net Earnings	$ 1,067	$ 1,117
Other comprehensive income (loss), net of tax:
Pension/postretirement obligations	(9)	3
Unrealized gain on cash flow hedges	1	1
Unrecognized (loss) gain on available-for-sale investments	(1)	1
Share of other comprehensive (loss) income of equity method investments	(1)	0
Currency translation adjustments	(855)	(450)
Total Other Comprehensive Income (Loss)	(865)	(445)
Total Comprehensive Income	202	672
Comprehensive (loss) income attributable to noncontrolling interests	(34)	6
Comprehensive Income Attributable to Walgreens Boots Alliance, Inc.	$ 236	$ 666

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Cash Flows from Operating Activities:
Net earnings	$ 1,067	$ 1,117
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	419	382
Change in fair value of warrants and related amortization	0	57
Deferred income taxes	(61)	(158)
Stock compensation expense	26	31
Equity earnings from equity method investments	(29)	(11)
Other	81	115
Changes in operating assets and liabilities:
Accounts receivable, net	(259)	(166)
Inventories	(1,330)	(1,306)
Other current assets	(109)	(38)
Trade accounts payable	884	740
Accrued expenses and other liabilities	(378)	(329)
Income taxes	217	231
Other non-current assets and liabilities	(3)	67
Net cash provided by operating activities	525	732
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(378)	(340)
Proceeds from sale leaseback transactions	436	54
Proceeds from sale of businesses	0	43
Proceeds from sale of other assets	26	40
Business and intangible asset acquisitions, net of cash received	(15)	(72)
Other	20	4
Net cash provided by (used) for investing activities	89	(271)
Cash Flows from Financing Activities:
Proceeds and payments of short-term borrowings, net	49	52
Payments of long-term debt	(4)	(41)
Stock purchases	(457)	(529)
Proceeds related to employee stock plans	41	71
Cash dividends paid	(406)	(393)
Other	(1)	(13)
Net cash used for financing activities	(778)	(853)
Effect of exchange rate changes on cash and cash equivalents	(45)	(38)
Changes in Cash and Cash Equivalents:
Net decrease in cash and cash equivalents	(209)	(430)
Cash and cash equivalents at beginning of period	9,807	3,000
Cash and cash equivalents at end of period	$ 9,598	$ 2,570

Accounting Policies

Accounting Policies	3 Months Ended
	Nov. 30, 2016
Accounting Policies [Abstract]
Accounting Policies	Note 1. Accounting Policies Basis of Presentation The Consolidated Condensed Financial Statements of Walgreens Boots Alliance, Inc. (“Walgreens Boots Alliance”) included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. The Consolidated Condensed Financial Statements include all subsidiaries in which the Company holds a controlling interest. Investments in less than majority-owned subsidiaries in which the Company does not have a controlling interest, but does have significant influence, are accounted for as equity method investments. All intercompany transactions have been eliminated. The Consolidated Condensed Balance Sheet as of November 30, 2016, the Consolidated Condensed Statement of Equity for the three months ended November 30, 2016, and the Consolidated Condensed Statements of Earnings, the Consolidated Condensed Statements of Comprehensive Income and the Consolidated Condensed Statements of Cash Flows for the three months ended November 30, 2016 and 2015 are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited financial statements and the notes thereto included in the Walgreens Boots Alliance Annual Report on Form 10-K for the fiscal year ended August 31, 2016. In the opinion of the Company, the unaudited Consolidated Condensed Financial Statements for the interim periods presented include all adjustments (consisting only of normal recurring adjustments) necessary to present a fair statement of the results for such interim periods. The influence of certain holidays, seasonality, foreign currency rates, changes in vendor, payer and customer relationships and terms and other factors on the Company’s operations, net earnings for any period may not be comparable to the same period in previous years. With respect to the Company’s Retail Pharmacy USA segment, the positive impact on gross margins and gross profit dollars typically has been significant in the first several months after a generic version of a drug is first allowed to compete with the branded version, which is generally referred to as a “generic conversion.” In any given year, the number of major brand name drugs that undergo a conversion from branded to generic status can increase or decrease, which can have a significant impact on the Company’s Retail Pharmacy USA segment’s sales, gross margins and gross profit dollars making the Company’s operations or net earnings for any period incomparable. To improve comparability, certain classification changes were made to the prior period to conform to current year classifications. These reclassifications were made in the fourth quarter of fiscal 2016.

Restructuring

Restructuring	3 Months Ended
	Nov. 30, 2016
Restructuring [Abstract]
Restructuring	Note 2. Restructuring On April 8, 2015, the Walgreens Boots Alliance Board of Directors approved a plan to implement a new restructuring program (the “Cost Transformation Program”) as part of an initiative to reduce costs and increase operating efficiencies. The Cost Transformation Program implemented and built on the cost-reduction initiative previously announced by the Company on August 6, 2014 and included plans to close stores across the U.S.; reorganize corporate and field operations; drive operating efficiencies; and streamline information technology and other functions. $1.0 billion ($496 million related to asset impairment charges, $302 million in real estate costs and $249 million in severance and other business transition and exit costs) related to the Cost Transformation Program. All charges related to the Cost Transformation Program have been recorded within selling, general and administrative expenses. Restructuring costs by segment are as follows (in millions): Three Months Ended November 30, 2016 Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Walgreens Boots Alliance, Inc. Asset impairments $ 46 $ 2 $ - $ 48 Real estate costs 9 - - 9 Severance and other business transition and exit costs 17 4 3 24 Total restructuring costs $ 72 $ 6 $ 3 $ 81 Three Months Ended November 30, 2015 Asset impairments $ 25 $ - $ - $ 25 Real estate costs 52 - - 52 Severance and other business transition and exit costs 8 5 - 13 Total restructuring costs $ 85 $ 5 $ - $ 90 ________________________________ __________ __________ __________ __________ Asset Impairments Real estate costs Severance and other business transition and exit costs Total Balance at August 31, 2016 $ - $ 248 $ 27 $ 275 Costs incurred, net of expected sublease income 48 9 24 81 Payments - (12 ) (22 ) (34 ) Other - non cash (48 ) - - (48 ) Currency translation adjustments - - (2 ) (2 ) Balance at November 30, 2016 $ - $ 245 $ 27 $ 272 ________________________________ __________ __________ __________ __________

Operating Leases

Operating Leases	3 Months Ended
	Nov. 30, 2016
Operating Leases [Abstract]
Operating Leases	Note 3. Operating Leases Initial lease term for premises in the U.S. is typically 15 to 25 years, followed by additional terms containing renewal options at five-year intervals, and may include rent escalation clauses. Non-U.S. leases are typically for shorter terms and may include cancellation clauses or renewal options. The commencement date of all lease terms is the earlier of the date the Company becomes legally obligated to make rent payments or the date the Company has the right to control the property. The Company recognizes rent expense on a straight-line basis over the term of the lease. In addition to minimum fixed rentals, some leases provide for contingent rentals based upon a portion of sales. The Company continuously evaluates its real estate portfolio in conjunction with its capital needs. The Company has entered into several sale-leaseback transactions. For the three months ended November 30, 2016 and November 30, 2015, the Company recorded proceeds from sale-leaseback transactions of $436 million and $54 million, respectively. The Company has determined they no longer have continuing involvement related to these transactions and in accordance with the accounting standards related to sale-leaseback transactions has recognized any loss on sale immediately, any gain on sale was deferred and amortized over the life of the lease. Gains and losses are recorded within selling, general and administrative expenses in the Consolidated Condensed Statements of Earnings. The Company provides for future costs related to closed locations. The liability is based on the present value of future rent obligations and other related costs (net of estimated sublease rent) to the first lease option date. During the three months ended November 30, 2016, the Company recorded charges of $17 million for facilities that were closed or relocated under long-term leases, including stores closed through the Company’s restructuring activities. This compares to $66 million for the three months ended November 30, 2015. These charges are reported in selling, general and administrative expenses in the Consolidated Condensed Statements of Earnings. The changes in reserve for facility closings and related lease termination charges include the following (in millions): For the three months ended November 30, For the twelve months ended August 31, 2016 2016 Balance at beginning of period $ 466 $ 446 Provision for present value of non-cancellable lease payments on closed facilities 13 134 Assumptions about future sublease income, terminations and changes in interest rates (1 ) (34 ) Interest accretion 5 27 Cash payments, net of sublease income (27 ) (107 ) Balance at end of period $ 456 $ 466 As of November 30, 2016, the Company remains secondarily liable on 72 leases. The maximum potential undiscounted future payments are $334 million at November 30, 2016.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Nov. 30, 2016
Equity Method Investments [Abstract]
Equity Method Investments	Note 4. Equity Method Investments Equity method investments as of November 30, 2016 and August 31, 2016, are as follows (in millions, except percentages): November 30, 2016 August 31, 2016 Carrying Value Ownership Percentage Carrying Value Ownership Percentage AmerisourceBergen $ 4,968 26% $ 4,964 24% Others 1,168 12% - 50% 1,210 12% - 50% Total $ 6,136 $ 6,174 AmerisourceBergen Investment As of November 30, 2016 and August 31, 2016, the Company owned 56,854,867 AmerisourceBergen Corporation (“AmerisourceBergen”) common shares, representing approximately 26% and 24% of the outstanding AmerisourceBergen common stock, respectively. The Company accounts for its equity investment in AmerisourceBergen using the equity method of accounting, with the net earnings attributable to the Company’s investment being classified within the operating income of its Pharmaceutical Wholesale segment. Due to the timing and availability of financial information of AmerisourceBergen, the Company accounts for this equity method investment on a financial of two months. The Company’s investment in AmerisourceBergen carrying value exceeded its proportionate share of the net assets of AmerisourceBergen by $4.4 billion. This premium of $4.4 billion was recognized as part of the carrying value in the Company’s equity investment in AmerisourceBergen. The difference was primarily related to goodwill and the fair value of AmerisourceBergen intangible assets. Other Investments The Company’s other equity method investments include its investments in Guangzhou Pharmaceuticals Corporation and Nanjing Pharmaceutical Corporation Limited, the Company’s pharmaceutical wholesale investments in China; and the equity method investment retained through the sale of a majority interest in Option Care Inc. in fiscal 2015. The Company reported $12 million and $11 million of post-tax equity earnings from equity method investments other than AmerisourceBergen for the three months ended November 30, 2016 and November 30, 2015, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Nov. 30, 2016
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	Note 5. Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill by reportable segment consist of the following (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Walgreens Boots Alliance, Inc. August 31, 2016 $ 9,036 $ 3,369 $ 3,122 $ 15,527 Currency translation adjustments - (160 ) (164 ) (324 ) November 30, 2016 $ 9,036 $ 3,209 $ 2,958 $ 15,203 The carrying amount and accumulated amortization of intangible assets consist of the following (in millions): November 30, 2016 August 31, 2016 Gross Amortizable Intangible Assets Customer relationships and loyalty card holders $ 1,765 $ 1,867 Purchased prescription files 939 932 Favorable lease interests and non-compete agreements 572 619 Trade names and trademarks 508 532 Purchasing and payer contracts 94 94 Total gross amortizable intangible assets 3,878 4,044 Accumulated amortization Customer relationships and loyalty card holders $ 295 $ 275 Purchased prescription files 625 600 Favorable lease interests and non-compete agreements 358 388 Trade names and trademarks 115 105 Purchasing and payer contracts 72 71 Total accumulated amortization 1,465 1,439 Total amortizable intangible assets, net $ 2,413 $ 2,605 Indefinite lived Intangible Assets Trade names and trademarks $ 5,326 $ 5,604 Pharmacy licenses 1,989 2,093 Total indefinite lived intangible assets $ 7,315 $ 7,697 Total intangible assets, net $ 9,728 $ 10,302 Amortization expense for intangible assets was $95 million and $92 million for the three months ended November 30, 2016 and November 30, 2015, respectively. Estimated annual amortization expense for intangible assets recorded at November 30, 2016 is as follows (in millions): 2017 2018 2019 2020 2021 Estimated annual amortization expense $ 346 $ 311 $ 285 $ 225 $ 186

Borrowings

Borrowings	3 Months Ended
	Nov. 30, 2016
Borrowings [Abstract]
Borrowings	Note 6. Borrowings Borrowings consist of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted) November 30, 2016 August 31, 2016 Short-Term Borrowings ( 1 ) 1.750% unsecured notes due 2017 ( 5 )(7) $ 748 $ - Unsecured Pound Sterling variable rate term loan due 2019 68 63 Other (2) 279 260 Total short-term borrowings $ 1,095 $ 323 Long-Term Debt (1) Unsecured Pound Sterling variable rate term loan due 2019 $ 1,735 $ 1,833 $6 Billion Note Issuance (5)(7) 1.750% unsecured notes due 2018 1,247 1,246 2.600% unsecured notes due 2021 1,493 1,493 3.100% unsecured notes due 2023 745 744 3.450% unsecured notes due 2026 1,886 1,885 4.650% unsecured notes due 2046 590 590 $8 Billion Note Issuance (5)(7) 1.750% unsecured notes due 2017 - 746 2.700% unsecured notes due 2019 1,245 1,244 3.300% unsecured notes due 2021 1,242 1,242 3.800% unsecured notes due 2024 1,987 1,987 4.500% unsecured notes due 2034 494 494 4.800% unsecured notes due 2044 1,492 1,492 £700 Million Note Issuance (1)(5)(7) 2.875% unsecured Pound Sterling notes due 2020 495 521 3.600% unsecured Pound Sterling notes due 2025 371 391 €750 Million Note Issuance (1)(5)(7) 2.125% unsecured Euro notes due 2026 790 830 $4 Billion Note Issuance (6)(7) 3.100% unsecured notes due 2022 1,194 1,194 4.400% unsecured notes due 2042 492 492 $1 Billion Note Issuance (6)(7) 5.250% unsecured notes due 2019 (3) 249 249 Other (4) 30 32 Total long-term debt, less current portion $ 17,777 $ 18,705 (1) All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively. (2) Other short-term borrowings represent a mix of fixed and variable rate borrowings with various maturities and working capital facilities denominated in various foreign currencies. (3) Includes interest rate swap fair market value adjustments. See Note 8, Fair Value Measurements for additional fair value disclosures. (4) Other long-term debt represents a mix of fixed and variable rate borrowings in various foreign currencies with various maturities. (5) Notes are unsubordinated debt obligations of Walgreens Boots Alliance and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance from time to time outstanding. (6) Notes are senior debt obligations of Walgreens and rank equally with all other unsecured and unsubordinated indebtedness of Walgreens. On December 31, 2014, Walgreens Boots Alliance fully and unconditionally guaranteed the outstanding notes on an unsecured and unsubordinated basis. The guarantee, for so long as it is in place, is an unsecured, unsubordinated debt obligation of Walgreens Boots Alliance and will rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance. (7) The fair value & carrying value of the $6 billion, $8 billion, £0.7 billion, €0.75 billion, $4 billion and $1 billion note issuances as of November 30, 2016 was $5.9 billion & $6.0 billion, $7.3 billion & $7.2 billion, $0.9 billion & $0.9 billion, $0.8 billion & $0.8 billion, $1.7 billion & $1.7 billion and $0.3 billion & $0.2 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the November 30, 2016 spot rate, as applicable. $6.0 Billion Note Issuance On June 1, 2016, Walgreens Boots Alliance received net proceeds (after deducting underwriting discounts and offering expenses) of $6.0 billion from a public offering of five series of U.S. dollar notes with varying maturities and interest rates. Total issuance costs relating to the notes, including underwriting discounts and offering expenses, were $30 million. In the event that the merger contemplated by the Agreement and Plan of Merger dated as of October 27, 2015 among the Company, Rite Aid Corporation (“Rite Aid”) and Victoria Merger Sub, Inc., a wholly-owned subsidiary of the Company (the “Merger Agreement”) is not consummated on or prior to June 1, 2017 (the first anniversary of the issuance date of the notes) or if the Merger Agreement is terminated at any time on or prior to June 1, 2017, then Walgreens Boots Alliance will be required to redeem the notes due 2018, the notes due 2021 and the notes due 2023 (but not the notes due 2026 or notes due 2046) on the date described in the applicable note at a redemption price equal to 101% of the aggregate principal amount of the notes to be redeemed, plus accrued and unpaid interest from and including the date of initial issuance, or the most recent date to which interest has been paid, whichever is later, to, but excluding, the date of redemption. The notes issued on June 1, 2016 Bridge Credit Agreement, 2015 Term Loan Credit Agreement and 2016 Term Loan Credit Agreement On October 27, 2015, in connection with the pending acquisition of Rite Aid Corporation (the “Acquisition”), the Company entered into a $12.8 billion bridge credit facility commitment letter (as amended and restated, the “Bridge Commitment Letter”). On December 18, 2015, the Company entered into a Bridge Term Loan Credit Agreement with the lender party thereto (as amended, the “Bridge Credit Agreement”) and a Term Loan Credit Agreement with the lenders party thereto (as amended, the “2015 Term Loan Credit Agreement”). The Bridge Commitment Letter and the commitments contemplated thereby terminated upon the Company entering into the Bridge Credit Agreement and the 2015 Term Loan Credit Agreement. The Bridge Credit Agreement is a 364-day unsecured bridge term loan facility and had initial aggregate commitments of $7.8 billion, which may be increased by the Company prior to the funding of the loans thereunder by up to $2.0 billion in certain circumstances. As a result of the issuance of the notes and receipt of proceeds therefrom on June 1, 2016 as described above and the entry into the term loan credit agreement on August 30, 2016 as described below, the Company reduced the commitment under the Bridge Credit Agreement by approximately $6.0 billion and $1 billion, respectively, to approximately $0.8 billion. The Company can extend up to $3.0 billion of the loans under the Bridge Credit Agreement for an additional 90-day period if desired. The 2015 Term Loan Credit Agreement is a $5.0 billion unsecured term loan facility comprising two tranches with maturities three and five years following the funding date or, if earlier, three and five years after October 27, 2016. On August 30, 2016, the Company entered into a $1.0 billion senior unsecured term loan facility with the lender party thereto (the “2016 Term Loan Credit Agreement”, and together with the Bridge Term Loan Credit Agreement and the 2015 Term Loan Credit agreement the “Credit Agreements”) comprising two tranches with maturities on March 30, 2017 and one year after the funding date, respectively. Walgreens Boots Alliance will be the borrower under each of the Credit Agreements. The obligations of the lenders party to each of the Credit Agreements become effective upon the date of closing of the transactions contemplated by the Merger Agreement. The ability of the Company to request the funding of loans under each Credit Agreement is subject to the satisfaction (or waiver) of certain conditions set forth therein and will terminate upon the occurrence of certain events set forth therein. Commitments to provide loans under the Credit Agreements will expire on January 27, 2017 unless mutually extended by the parties. As of November 30, 2016, there were no borrowings under any of the Credit Agreements. Debt covenants The Company’s credit facilities contain a covenant to maintain, as of the last day of each fiscal quarter, a ratio of consolidated debt to total capitalization not to exceed 0.60:1.00. The credit facilities contain various other customary covenants. In the case of the Bridge Credit Agreement, the 2015 Term Loan Credit Agreement and the 2016 Term Loan Credit Agreement, such covenants are not in effect until the loans under each such credit facility are funded. Other Borrowings The Company periodically borrows under its commercial paper program. There were no commercial paper borrowings outstanding as of November 30, 2016 or August 31, 2016, respectively. The Company had no activity under its commercial paper program for the three months ended November 30, 2016. The Company had average daily short-term borrowings of $14 million of commercial paper outstanding at a weighted average interest rate of 0.66% for the twelve month period ended August 31, 2016.

Financial Instruments

Financial Instruments	3 Months Ended
	Nov. 30, 2016
Financial Instruments [Abstract]
Financial Instruments	Note 7. Financial Instruments The Company uses derivative instruments to manage its exposure to interest rate and foreign currency exchange risks. The notional amounts, fair value and balance sheet presentation of derivative instruments outstanding as of November 30, 2016 and August 31, 2016 are as follows (in millions): November 30, 2016 August 31, 2016 Notional (1) Fair Value Notional (1) Fair Value Location in Consolidated Condensed Balance Sheets Derivatives designated as fair value hedges Interest rate swaps $ 250 $ - $ 250 $ 3 Other non-current assets Derivatives not designated as hedges Foreign currency forwards 786 11 1,177 16 Other current assets Foreign currency forwards 304 2 41 - Other current liabilities Basis swaps 2 1 2 1 Other current liabilities (1) Amounts are presented in U.S. dollar equivalents, as applicable. The Company uses interest rate swaps to manage the interest rate exposure associated with some of its fixed-rate borrowings and designates them as fair value hedges. The Company uses forward starting interest rate swaps to hedge its interest rate exposure of some of its anticipated debt issuances. The Company utilizes foreign currency forward contracts and other foreign currency derivatives to hedge significant committed and highly probable future transactions and cash flows denominated in currencies other than the functional currency of the Company or its subsidiaries. The Company has significant non-US dollar denominated net investments and uses foreign currency denominated financial instruments, specifically foreign currency derivatives and foreign currency denominated debt, to hedge its foreign currency risk. Fair Value Hedges The Company holds interest rate swaps converting $250 million of its 5.250% fixed rate notes to a floating interest rate based on the six-month LIBOR in arrears plus a constant spread. All swap termination dates coincide with the notes maturity date, January 15, 2019. These swaps were designated as fair value hedges. The gains and losses due to changes in fair value on the swaps and on the hedged notes attributable to interest rate risk were not material. The changes in fair value of the Company’s debt that was swapped from fixed to variable rate and designated as fair value hedges are included in long-term debt on the Consolidated Condensed Balance Sheets (see Note 6, Borrowings). At November 30, 2016 and August 31, 2016, the cumulative fair value adjustments resulted in an increase in long-term debt of $1 million and $2 million, respectively. No material gains or losses were recorded from ineffectiveness during the three months ended November 30, 2016. Derivatives not Designated as Hedges The Company enters into derivative transactions that are not designated as accounting hedges. These derivative instruments are economic hedges of foreign currency risks. The gains and (losses) due to changes in fair value of these derivative instruments were recognized in earnings as follows (in millions): Three Months Ended November 30, Location in Consolidated Condensed Statements of Earnings 2016 2015 Foreign currency forwards Selling, general and administrative expense $ 50 $ (2 ) Foreign currency forwards Other income (expense) $ 1 $ - Derivatives Credit Risk Counterparties to derivative financial instruments expose the Company to credit-related losses in the event of counterparty nonperformance, and the Company regularly monitors the credit worthiness of each counterparty. Derivatives Offsetting The Company does not offset the fair value amounts of derivative instruments subject to master netting agreements in the Consolidated Condensed Balance Sheets.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements The Company measures certain assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures, which 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 and liabilities measured at fair value on a recurring basis are as follows (in millions): November 30, 2016 Level 1 Level 2 Level 3 Assets Restricted cash (1) $ 174 $ 174 $ - $ - Money market funds (2) 8,624 8,624 - - Available-for-sale investments (3) 28 28 - - Foreign currency forwards (5) 11 - 11 - Liabilities Foreign currency forwards (5) 2 - 2 - Basis swaps (5) 1 - 1 - August 31, 2016 Level 1 Level 2 Level 3 Assets Restricted cash (1) $ 185 $ 185 $ - $ - Money market funds (2) 9,133 9,133 - - Available-for-sale investments (3) 32 32 - - Interest rate swaps (4) 3 - 3 - Foreign currency forwards (5) 16 - 16 - Liabilities Basis swaps (5) 1 - 1 - (1) Restricted cash consists of deposits restricted under agency agreements and cash restricted by law and other obligations. (2) Money market funds are valued at the closing price reported by the fund sponsor. (3) Fair values of quoted investments are based on current bid prices as of the balance sheet dates. (4) The fair value of interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 7, Financial Instruments for additional information. (5) The fair value of basis swaps and forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates. There were no transfers between levels for the three months ended November 30, 2016. 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 consolidated financial statements. Unless otherwise noted, the fair value for all notes was determined based upon quoted market prices and therefore categorized as Level 1. See Note 6, Borrowings for further information. The carrying values of accounts receivable and trade accounts payable approximated their respective fair values due to their short-term nature.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9. Commitments and Contingencies The Company is involved in legal proceedings and is subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities, arising in the normal course of the Company’s business, including the matters described below. Legal proceedings, in general, and securities and class action litigation, in particular, can be expensive and disruptive. Some of these suits may purport or may be determined to be class actions and/or involve parties seeking large and/or indeterminate amounts, including punitive or exemplary damages, and may remain unresolved for several years. From time to time, the Company is also involved in legal proceedings as a plaintiff involving antitrust, tax, contract, intellectual property and other matters. Gain contingencies, if any, are recognized when they are realized. The results of legal proceedings are often uncertain and difficult to predict, and the costs incurred in litigation can be substantial, regardless of the outcome. The Company believes that its defenses and assertions in pending legal proceedings have merit, and does not believe that any of these pending matters, after consideration of applicable reserves and rights to indemnification, will have a material adverse effect on the Company’s consolidated financial position. However, substantial unanticipated verdicts, fines and rulings do sometimes occur. As a result, the Company could from time to time incur judgments, enter into settlements or revise its expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on its results of operations in the period in which the amounts are accrued and/or its cash flows in the period in which the amounts are paid. On a quarterly basis, the Company assesses its liabilities and contingencies for outstanding legal proceedings and reserves are established on a case-by-case basis for those legal claims for which management concludes that it is probable that a loss will be incurred and that the amount of such loss can be reasonably estimated. Substantially all of these contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. With respect to litigation and other legal proceedings where the Company has determined that a loss is reasonably possible, the Company is unable to estimate the amount or range of reasonably possible loss due to the inherent difficulty of predicting the outcome of and uncertainties regarding such litigation and legal proceedings. The Company’s assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause the Company to change those estimates and assumptions. Therefore, it is possible that an unfavorable resolution of one or more pending litigation or other contingencies could have a material adverse effect on the Company’s consolidated financial statements in a future fiscal period. Management’s assessment of current litigation and other legal proceedings, including the corresponding accruals, could change because of the discovery of facts with respect to legal actions or other proceedings pending against the Company which are not presently known. Adverse rulings or determinations by judges, juries, governmental authorities or other parties could also result in changes to management’s assessment of current liabilities and contingencies. Accordingly, the ultimate costs of resolving these claims may be substantially higher or lower than the amounts reserved. On December 5 and 12, 2014, putative shareholders filed class actions in federal court in the Northern District of Illinois against the Walgreens Board of Directors, Walgreen Co., and Walgreens Boots Alliance, Inc. arising out of the Company’s definitive proxy statement/prospectus filed with the SEC in connection with the special meeting of Walgreens shareholders on December 29, 2014. The actions asserted claims that the definitive proxy statement/prospectus was false or misleading in various respects. On December 23, 2014, solely to avoid the costs, risks and uncertainties inherent in litigation, and without admitting any liability or wrongdoing, Walgreens entered into a memorandum of understanding with the plaintiffs in both actions, pursuant to which Walgreens made certain supplemental disclosures. The proposed settlement was subject to, among other things, court approval. On July 8, 2015, the Court preliminarily approved the settlement, and on November 20, 2015, the Court entered an order of final approval of the settlement. On December 17, 2015, a purported class member who had objected to the settlement appealed the Court’s order. The appeal was docketed with the United States Court of Appeals for the Seventh Circuit. Oral argument was held on June 2, 2016. On August 10, 2016, the Seventh Circuit issued an order reversing the district court’s judgment approving the settlement and remanding the case for further proceedings. On December 8, 2016, plaintiffs voluntarily dismissed the consolidated actions without prejudice. On December 29, 2014, a putative shareholder filed a derivative action in federal court in the Northern District of Illinois against certain current and former directors and officers of Walgreen Co., and Walgreen Co. as a nominal defendant, arising out of certain public statements the Company made regarding its former fiscal 2016 goals. The action asserts claims for breach of fiduciary duty, waste and unjust enrichment. On April 10, 2015, the defendants filed a motion to dismiss. On May 18, 2015, the case was stayed in light of the securities class action that was filed on April 10, 2015, which is described below. On April 10, 2015, a putative shareholder filed a securities class action in federal court in the Northern District of Illinois against Walgreen Co. and certain former officers of Walgreen Co. The action asserts claims for violation of the federal securities laws arising out of certain public statements the Company made regarding its former fiscal 2016 goals. On June 16, 2015, the Court entered an order appointing a lead plaintiff. Pursuant to the Court’s order, lead plaintiff filed an amended complaint on August 17, 2015, and defendants moved to dismiss the amended complaint on October 16, 2015. Lead plaintiff filed a response to the motion to dismiss on December 22, 2015, and defendants filed a reply in support of the motion on February 5, 2016. On September 30, 2016, the Court issued an order granting in part and denying in part Walgreen Co.’s motion to dismiss. Defendants filed their answer to the amended complaint on November 4, 2016. As of November 30, 2016, the Company was aware of ten putative class action lawsuits (the “Rite Aid actions”) filed by purported Rite Aid stockholders against Rite Aid and its board of directors, Walgreens Boots Alliance and for claims arising out of the transactions contemplated by the Merger Agreement (the “Rite Aid Transactions”). Eight of the Rite Aid actions were filed in the Court of Chancery of the State of Delaware (the “Delaware actions”), one Rite Aid action was filed in the State of Pennsylvania in the Court of Common Pleas of Cumberland County (the “Pennsylvania action”), and one Rite Aid action was filed in the United States District Court for the Middle District of Pennsylvania (the “federal action”). The Delaware actions and the Pennsylvania action primarily alleged that the Rite Aid board of directors breached its fiduciary duties in connection with the Rite Aid Transactions by, among other things, agreeing to an unfair and inadequate price, agreeing to deal protection devices that preclude other bidders from making successful competing offers for Rite Aid, and failing to disclose all allegedly material information concerning the proposed merger; and also allege that Walgreens Boots Alliance and aided and abetted these alleged breaches of fiduciary duty. The federal action alleges, among other things, that Rite Aid and its board of directors disseminated an allegedly false and misleading proxy statement in connection with the Rite Aid Transactions. The Delaware actions were consolidated, and plaintiffs filed a motion for expedited proceedings and a motion for preliminary injunction seeking to enjoin the Rite Aid shareholder vote on the Rite Aid Transactions. The plaintiffs in the federal action also filed a motion for preliminary injunction seeking to enjoin the same Rite Aid shareholder vote. All such motions were denied, and the Rite Aid shareholders approved the Rite Aid Transactions at a special meeting on February 4, 2016. On April 15, 2016, the plaintiffs in the Delaware actions agreed to a settlement in principle related to this matter for an immaterial amount. In the federal action, plaintiffs agreed to stay the litigation until after the Rite Aid Transactions have closed.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Nov. 30, 2016
Retirement Benefits [Abstract]
Retirement Benefits	Note 10. Retirement Benefits The Company sponsors several retirement plans, including defined benefit plans, defined contribution plans and a postretirement health plan. Effective September 1, 2016, for UK and U.S. benefit plans previously using the yield curve approach to establish discount rates, the Company changed the method used to calculate the service cost and interest cost components of net periodic benefit costs for pension and postretirement benefit plans and will measure these costs by applying the specific spot rates along the yield curve to the plans’ projected cash flows. The Company believes the new approach provides a more precise measurement of service and interest costs by improving the correlation between projected cash flows and the corresponding spot yield curve rates. The change does not affect the measurement of the Company’s pension and other postretirement benefit obligations for those plans and is accounted for as a change in accounting estimate, which is applied prospectively. Defined Benefit Pension Plans (non-U.S. plans) The Company has various defined benefit pension plans outside the United States. The principal defined benefit pension plan is the Boots Pension Plan, which covers certain employees in the United Kingdom (the “Boots Plan”). The Boots Plan is a funded final salary defined benefit plan providing pensions and death benefits to members. The Boots Plan was closed to future accrual effective July 1, 2010, with pensions calculated based on salaries up until that date. The Boots Plan is governed by a trustee board, which is independent of the Company. The plan is subject to a full funding actuarial valuation on a triennial basis. Components of net periodic pension costs for the defined benefit pension plans (in millions): Three Months Ended November 30, 2016 2015 Service costs $ 2 $ 1 Interest costs 43 81 Expected returns on plan assets (37 ) (65 ) Total net periodic pension costs $ 8 $ 17 The Company made cash contributions to its defined benefit pension plans of $8 million for the three months ended November 30, 2016, which primarily related to committed funded payments. The Company plans to contribute an additional $62 million to its defined benefit pension plans in fiscal 2017. Defined Contribution Plans The principal retirement plan for U.S. employees is the Walgreen Profit-Sharing Retirement Trust, to which both the Company and participating employees contribute. The Company’s contribution, which has historically related to adjusted FIFO earnings before interest and taxes and a portion of which is in the form of a guaranteed match, is determined annually at the discretion of the Walgreens Boots Alliance Board of Directors (or Compensation Committee thereof). The profit-sharing provision was an expense of $57 million for the three months ended November 30, 2016 compared to expense of $58 million in the three months ended November 30, 2015. The Company also has other contract based defined contribution arrangements, including the Alliance Healthcare & Boots Retirement Savings Plan, to which both the Company and participating employees contribute. The cost recognized in the Consolidated Condensed Statements of Earnings for the three months ended November 30, 2016 was $28 million compared to a cost of $35 million in the three months ended November 30, 2015. Postretirement Healthcare Plan The Company provides certain health insurance benefits to retired U.S. employees who meet eligibility requirements, including age, years of service and date of hire. The costs of these benefits are accrued over the service life of the employee.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Nov. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share The dilutive effect of outstanding stock options on earnings per share is calculated using the treasury stock method. Stock options are anti-dilutive and excluded from the earnings per share calculation if the exercise price exceeds the average market price of the common shares. There were 4.0 million outstanding options to purchase common shares that were anti-dilutive and excluded from the first quarter earnings per share calculation as of November 30, 2016 compared to 1.1 million as of November 30, 2015.

Depreciation and Amortization

Depreciation and Amortization	3 Months Ended
	Nov. 30, 2016
Depreciation and Amortization [Abstract]
Depreciation and Amortization	Note 12. Depreciation and Amortization The Company has recorded the following depreciation and amortization expense in the Consolidated Condensed Statements of Earnings (in millions): Three Months Ended November 30, 2016 2015 Depreciation expense $ 335 $ 298 Intangible asset and other amortization 84 84 Total depreciation and amortization expense $ 419 $ 382

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	3 Months Ended
	Nov. 30, 2016
Supplemental Cash Flow Disclosures [Abstract]
Supplemental Cash Flow Disclosures	Note 13. Supplemental Cash Flow Disclosures Interest paid was $246 million and $250 million for the three months ended November 30, 2016 and November 30, 2015, respectively. three months

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Nov. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 14. Accumulated Other Comprehensive Income (Loss) The following is a summary of net changes in accumulated other comprehensive income by component and net of tax for the three months Pension/ post- retirement obligations Unrecognized gain (loss) on available-for- sale investments Unrealized gain (loss) on cash flow hedges Share of OCI of equity method investments Currency translation adjustment Total Balance at August 31, 2016 $ (212 ) $ 2 $ (37 ) $ (1 ) $ (2,744 ) $ (2,992 ) Other comprehensive income (loss) (11 ) (1 ) 1 (1 ) (808 ) (820 ) Tax benefit 2 - - - - 2 Net other comprehensive income (loss) (9 ) (1 ) 1 (1 ) (808 ) (818 ) Balance at November 30, 2016 $ (221 ) $ 1 $ (36 ) $ (2 ) $ (3,552 ) $ (3,810 ) Pension/ post- retirement obligations Unrecognized gain (loss) on available-for- sale investments Unrealized gain (loss) on cash flow hedges Share of OCI of equity method investments Currency translation adjustment Total Balance at August 31, 2015 $ 29 $ 259 $ (40 ) $ - $ (462 ) $ (214 ) Other 3 (5 ) - - (449 ) (451 ) Amounts reclassified from accumulated OCI - - 1 - - 1 Tax benefit - 6 - - - 6 Net other comprehensive income (loss) 3 1 1 - (449 ) (444 ) Balance at November 30, 2015 $ 32 $ 260 $ (39 ) $ - $ (911 ) $ (658 )

Segment Reporting

Segment Reporting	3 Months Ended
	Nov. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Note 15. Segment Reporting The Company has three reportable segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The operating segments have been identified based on the financial data utilized by the Company’s Chief Executive Officer (the chief operating decision maker) to assess segment performance and allocate resources among the Company’s operating segments, which have been aggregated as described below. The chief operating decision maker uses adjusted operating income to assess segment profitability. The chief operating decision maker does not use total assets by segment to make decisions regarding resources, therefore the total asset disclosure by segment has not been included. · The Retail Pharmacy USA segment consists of retail drugstores and convenient care clinics and the provision of specialty pharmacy services. Revenues for the segment are principally derived from the sale of prescription drugs and a wide assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards and convenience foods. · The Retail Pharmacy International segment consists primarily of pharmacy-led health and beauty stores and optical practices. Stores are located in the United Kingdom, Mexico, Chile, Thailand, Norway, the Republic of Ireland, the Netherlands and Lithuania. Revenues for the segment are principally derived from the sale of prescription drugs and retail health, beauty, toiletries and other consumer products. · The Pharmaceutical Wholesale segment consists of pharmaceutical wholesaling and distribution businesses and an equity method investment in AmerisourceBergen reported on a two-month lag. Wholesale operations are located in France, the United Kingdom, Germany, Turkey, Spain, the Netherlands, Egypt, Norway, Romania, Czech Republic and Lithuania. Revenues for the segment are principally derived from wholesaling and distribution of a comprehensive offering of brand-name pharmaceuticals (including specialty pharmaceutical products) and generic pharmaceuticals, health and beauty products, home healthcare supplies and equipment, and related services to pharmacies and other healthcare providers. Results for each reportable segment include the allocation of procurement rebates and corporate-related overhead costs. The “Eliminations” column includes intersegment sales and the profit on these intersegment sales to the extent the inventory has not been subsequently sold externally. To improve comparability, certain classification changes were made to prior period Sales, Cost of sales and Selling, general and administrative expenses. These changes had no impact on Operating Income. The reclassifications were made in the fourth quarter of fiscal 2016. The following table reflects results of operations of the Company’s reportable segments (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Eliminations Walgreens Boots Alliance, Inc. Three Months Ended November 30, 2016 Sales to external customers $ 20,659 $ 2,962 $ 4,880 $ - $ 28,501 Intersegment sales - - 537 (537 ) - Sales $ 20,659 $ 2,962 $ 5,417 $ (537 ) $ 28,501 Adjusted Operating Income $ 1,289 $ 213 $ 224 $ - $ 1,726 Three Months Ended November 30, 2015 Sales to external customers $ 20,370 $ 3,459 $ 5,204 $ - $ 29,033 Intersegment sales - - 592 (592 ) - Sales $ 20,370 $ 3,459 $ 5,796 $ (592 ) $ 29,033 Adjusted Operating Income $ 1,243 $ 315 $ 166 $ (5 ) $ 1,719 The following table reconciles adjusted operating income to operating income (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Eliminations Walgreens Boots Alliance, Inc. Three Months Ended November 30, 2016 Adjusted Operating Income $ 1,289 $ 213 $ 224 $ - $ 1,726 Acquisition-related amortization (82 ) Cost transformation (81 ) LIFO provision (58 ) Adjustments to equity earnings in AmerisourceBergen (41 ) Acquisition-related costs (17 ) Operating Income $ 1,447 Three Months Ended November 30, 2015 Adjusted Operating Income $ 1,243 $ 315 $ 166 $ (5 ) $ 1,719 Acquisition-related amortization (81 ) Cost transformation (90 ) LIFO provision (46 ) Acquisition-related costs (34 ) Operating Income $ 1,468

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Nov. 30, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Note 16. Recent Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This ASU requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017 (fiscal 2019), and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the effect this ASU will have on our consolidated statement of cash flows. In October 2016, the FASB issued ASU 2016-17, Consolidation (Topic 810) Interests Held through Related Parties That Are under Common Control. This ASU amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. Under the amendments, a single decision maker is not required to consider indirect interests held through related parties that are under common control with the single decision maker to be the equivalent of direct interests in their entirety. Instead, a single decision maker is required to include those interests on a proportionate basis consistent with indirect interests held through other related parties. This ASU is effective for fiscal years beginning after December 15, 2016 (fiscal 2018), and interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory. Topic 740, Income Taxes, prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. In addition, interpretations of this guidance have developed in practice for transfers of certain intangible and tangible assets. This prohibition on recognition is an exception to the principle of comprehensive recognition of current and deferred income taxes in GAAP. To more faithfully represent the economics of intra-entity asset transfers, the amendments in this ASU require that entities recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in this Update do not change GAAP for the pre-tax effects of an intra-entity asset transfer under Topic 810, Consolidation, or for an intra-entity transfer of inventory. This ASU is effective for fiscal years beginning after December 15, 2017 (fiscal 2019), including interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses the classification of certain specific cash flow issues including debt prepayment or extinguishment costs, settlement of certain debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of certain insurance claims and distributions received from equity method investees. This ASU is effective for fiscal years beginning after December 15, 2017 (fiscal 2019), and interim periods within those fiscal years, with early adoption permitted. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is currently evaluating the effect this ASU will have on our consolidated statement of cash flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. This ASU is effective for fiscal years beginning after December 15, 2019 (fiscal 2021), including interim periods within those fiscal years, with early adoption permitted. The Company does not expect adoption will have a material impact on the Company’s results of operations, cash flows or financial position. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This ASU simplifies the employee share-based payment accounting of stock compensation, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term must be applied prospectively. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement must be applied retrospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. This ASU is effective for annual periods after December 15, 2016 (fiscal 2018), and interim periods within those fiscal years, with early adoption permitted. The Company early adopted this guidance in the current period on a prospective basis, and the adoption did not have a material impact on the Company’s results of operations, cash flows or financial position. In March 2016, the FASB issued ASU 2016-04, Liabilities-Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products. This ASU addresses diversity in practice related to the de-recognition of a prepaid store-value product liability. The ASU amends the guidance on extinguishing financial liabilities for certain prepaid store-value products. If an entity selling prepaid store-value products expects to be entitled to an amount that will not be redeemed, the entity will recognize the expected breakage in proportion to the pattern of rights expected to be exercised by the product holder to the extent that it is probable that a significant reversal of the breakage amount will not subsequently occur. The ASU is effective for annual periods beginning after December 15, 2017 (fiscal 2019), and interim periods within those fiscal years, with early adoption permitted, including adoption before the effective date of ASU 2015-14, Revenue from Contracts with Customers (described below). The amendments in this ASU should be applied either using a modified retrospective transition method by means of a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is effective or retrospectively to each period presented. The Company is currently evaluating the effect the ASU will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes Topic 840, Leases. This ASU increases the transparency and comparability of organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. At the lease commencement date, lessee recognizes a lease liability and right-of-use asset, which is initially measured at the present value of future lease payments. There are two approaches for amortizing the right-of use asset. Under the finance lease approach, interest on the lease liability is recognized separately from amortization of the right-of-use asset. Repayments of the principal portion of the lease liability will be classified as financing activities and payments of interest on the lease liability and variable lease payments will be classified as operating activities in the statement of cash flows. Under the operating lease approach, the cost of the lease is calculated on a straight-line basis over the life of the lease term. All cash payments are classified as operating activities in the statement of cash flows. For sale and leaseback transactions, in order for a sale to occur, the transfer of the asset must meet all criteria in Topic 606. If there is no sale for the seller-lessee, the buyer-lessor does not account for a purchase. Any consideration paid for the asset is accounted for as a financing transaction. For transactions previously accounted for as a sale and leaseback, the transition guidance in Topic 842 does not require an entity to assess whether the transaction would have qualified as a sale and a leaseback in accordance with Topic 842. Additionally, gains recorded under sale and leaseback transactions are recognized at the transaction date and no longer deferred over the lease term. This ASU is effective for annual periods beginning after December 15, 2018 (fiscal 2020). In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach which includes a number of optional practical expedients that entities may elect to apply. The Company has begun evaluating and planning for the adoption and implementation of this ASU, including assessing the overall impact. This ASU will have a material impact on the Company’s financial position. The impact on the Company’s results of operations is being evaluated. The impact of this ASU is non-cash in nature and will not affect the Company’s cash position. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10). This ASU requires equity investments (except those under the equity method of accounting or those that result in the consolidation of an investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. This simplifies the impairment assessment of equity investments previous held at cost. Separate presentation of financial assets and liabilities by measurement category is required. This ASU is effective prospectively for annual periods beginning after December 15, 2017 (fiscal 2019). Early application is permitted, for fiscal years or interim periods that have not yet been issued as of the beginning of the fiscal year of adoption. The Company is evaluating the effect of adopting this new accounting guidance. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), an update to ASU 2014-09. This ASU amends ASU 2014-09 to defer the effective date by one year for annual reporting periods beginning after December 15, 2017 (fiscal 2019). Subsequently, the FASB has also issued accounting standards updates which clarify the guidance. This ASU removes inconsistencies, complexities and allows transparency and comparability of revenue transactions across entities, industries, jurisdictions and capital markets by providing a single comprehensive principles-based model with additional disclosures regarding uncertainties. The principles-based revenue recognition model has a five-step analysis of transactions to determine when and how revenue is recognized. The 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. Early adoption is permitted for annual reporting periods beginning after December 15, 2016 (fiscal 2018). In transition, the ASU may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is evaluating the effect of adopting this new accounting guidance including the transition method. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330). This ASU simplifies current accounting treatments by requiring entities to measure most inventories at “the lower of cost and net realizable value” rather than using lower of cost or market. This guidance does not apply to inventories measured using last-in, first-out method or the retail inventory method. This ASU is effective prospectively for annual periods beginning after December 15, 2016 and interim periods thereafter (fiscal 2018) with early adoption permitted. Upon transition, entities must disclose the accounting change. The Company is evaluating the effect of adopting this new accounting guidance but does not expect adoption will have a material impact on the Company’s results of operations, cash flows or financial position.

Related Parties

Related Parties	3 Months Ended
	Nov. 30, 2016
Related Parties [Abstract]
Related Parties	Note 17. Related Parties The Company has a long-term pharmaceutical distribution agreement with AmerisourceBergen pursuant to which the Company sources branded and generic pharmaceutical products from AmerisourceBergen principally for its U.S. operations. Related party transactions (in millions): Three Months Ended November 30, 2016 November 30, 2015 Purchases, net $ 10,636 $ 10,323 November 30, 2016 August 31, 2016 Trade accounts payable, net $ 3,627 $ 3,456 Additionally, AmerisourceBergen receives sourcing services for generic pharmaceutical products.

Subsequent Events

Subsequent Events	3 Months Ended
	Nov. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events On December 20, 2016, the Company and Rite Aid announced that they have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s, Inc. (“Fred’s”) for $950 million in an all-cash transaction. The transaction is subject to Federal Trade Commission (“FTC”) approval, the approval and completion of the pending acquisition of Rite Aid by Walgreens Boots Alliance pursuant to the Merger Agreement, and other customary closing conditions. If the FTC requires divestiture of more than the 865 Rite Aid stores currently contemplated by the purchase agreement and the Company agrees to sell such stores, the purchase agreement requires Fred’s to purchase such additional stores.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Nov. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Condensed Financial Statements of Walgreens Boots Alliance, Inc. (“Walgreens Boots Alliance”) included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. The Consolidated Condensed Financial Statements include all subsidiaries in which the Company holds a controlling interest. Investments in less than majority-owned subsidiaries in which the Company does not have a controlling interest, but does have significant influence, are accounted for as equity method investments. All intercompany transactions have been eliminated. The Consolidated Condensed Balance Sheet as of November 30, 2016, the Consolidated Condensed Statement of Equity for the three months ended November 30, 2016, and the Consolidated Condensed Statements of Earnings, the Consolidated Condensed Statements of Comprehensive Income and the Consolidated Condensed Statements of Cash Flows for the three months ended November 30, 2016 and 2015 are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited financial statements and the notes thereto included in the Walgreens Boots Alliance Annual Report on Form 10-K for the fiscal year ended August 31, 2016. In the opinion of the Company, the unaudited Consolidated Condensed Financial Statements for the interim periods presented include all adjustments (consisting only of normal recurring adjustments) necessary to present a fair statement of the results for such interim periods. The influence of certain holidays, seasonality, foreign currency rates, changes in vendor, payer and customer relationships and terms and other factors on the Company’s operations, net earnings for any period may not be comparable to the same period in previous years. With respect to the Company’s Retail Pharmacy USA segment, the positive impact on gross margins and gross profit dollars typically has been significant in the first several months after a generic version of a drug is first allowed to compete with the branded version, which is generally referred to as a “generic conversion.” In any given year, the number of major brand name drugs that undergo a conversion from branded to generic status can increase or decrease, which can have a significant impact on the Company’s Retail Pharmacy USA segment’s sales, gross margins and gross profit dollars making the Company’s operations or net earnings for any period incomparable. To improve comparability, certain classification changes were made to the prior period to conform to current year classifications. These reclassifications were made in the fourth quarter of fiscal 2016.

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Nov. 30, 2016
Restructuring [Abstract]
Restructuring Costs by Segment	Restructuring costs by segment are as follows (in millions): Three Months Ended November 30, 2016 Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Walgreens Boots Alliance, Inc. Asset impairments $ 46 $ 2 $ - $ 48 Real estate costs 9 - - 9 Severance and other business transition and exit costs 17 4 3 24 Total restructuring costs $ 72 $ 6 $ 3 $ 81 Three Months Ended November 30, 2015 Asset impairments $ 25 $ - $ - $ 25 Real estate costs 52 - - 52 Severance and other business transition and exit costs 8 5 - 13 Total restructuring costs $ 85 $ 5 $ - $ 90 ________________________________ __________ __________ __________ __________
Accrued Expenses Related to Cost Transformation	Asset Impairments Real estate costs Severance and other business transition and exit costs Total Balance at August 31, 2016 $ - $ 248 $ 27 $ 275 Costs incurred, net of expected sublease income 48 9 24 81 Payments - (12 ) (22 ) (34 ) Other - non cash (48 ) - - (48 ) Currency translation adjustments - - (2 ) (2 ) Balance at November 30, 2016 $ - $ 245 $ 27 $ 272 ________________________________ __________ __________ __________ __________

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
	Nov. 30, 2016
Operating Leases [Abstract]
Reserve for Facility Closings and Related Lease Termination Charges	The changes in reserve for facility closings and related lease termination charges include the following (in millions): For the three months ended November 30, For the twelve months ended August 31, 2016 2016 Balance at beginning of period $ 466 $ 446 Provision for present value of non-cancellable lease payments on closed facilities 13 134 Assumptions about future sublease income, terminations and changes in interest rates (1 ) (34 ) Interest accretion 5 27 Cash payments, net of sublease income (27 ) (107 ) Balance at end of period $ 456 $ 466

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Nov. 30, 2016
Equity Method Investments [Abstract]
Equity Method Investments	Equity method investments as of November 30, 2016 and August 31, 2016, are as follows (in millions, except percentages): November 30, 2016 August 31, 2016 Carrying Value Ownership Percentage Carrying Value Ownership Percentage AmerisourceBergen $ 4,968 26% $ 4,964 24% Others 1,168 12% - 50% 1,210 12% - 50% Total $ 6,136 $ 6,174

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Nov. 30, 2016
Goodwill and Other Intangible Assets [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill by reportable segment consist of the following (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Walgreens Boots Alliance, Inc. August 31, 2016 $ 9,036 $ 3,369 $ 3,122 $ 15,527 Currency translation adjustments - (160 ) (164 ) (324 ) November 30, 2016 $ 9,036 $ 3,209 $ 2,958 $ 15,203
Schedule of Finite-Lived Intangible Assets by Major Class	The carrying amount and accumulated amortization of intangible assets consist of the following (in millions): November 30, 2016 August 31, 2016 Gross Amortizable Intangible Assets Customer relationships and loyalty card holders $ 1,765 $ 1,867 Purchased prescription files 939 932 Favorable lease interests and non-compete agreements 572 619 Trade names and trademarks 508 532 Purchasing and payer contracts 94 94 Total gross amortizable intangible assets 3,878 4,044 Accumulated amortization Customer relationships and loyalty card holders $ 295 $ 275 Purchased prescription files 625 600 Favorable lease interests and non-compete agreements 358 388 Trade names and trademarks 115 105 Purchasing and payer contracts 72 71 Total accumulated amortization 1,465 1,439 Total amortizable intangible assets, net $ 2,413 $ 2,605 Indefinite lived Intangible Assets Trade names and trademarks $ 5,326 $ 5,604 Pharmacy licenses 1,989 2,093 Total indefinite lived intangible assets $ 7,315 $ 7,697 Total intangible assets, net $ 9,728 $ 10,302
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated annual amortization expense for intangible assets recorded at November 30, 2016 is as follows (in millions): 2017 2018 2019 2020 2021 Estimated annual amortization expense $ 346 $ 311 $ 285 $ 225 $ 186

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Nov. 30, 2016
Borrowings [Abstract]
Short-Term Borrowings	Borrowings consist of the following (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted) November 30, 2016 August 31, 2016 Short-Term Borrowings ( 1 ) 1.750% unsecured notes due 2017 ( 5 )(7) $ 748 $ - Unsecured Pound Sterling variable rate term loan due 2019 68 63 Other (2) 279 260 Total short-term borrowings $ 1,095 $ 323
Long-Term Debt	Long-Term Debt (1) Unsecured Pound Sterling variable rate term loan due 2019 $ 1,735 $ 1,833 $6 Billion Note Issuance (5)(7) 1.750% unsecured notes due 2018 1,247 1,246 2.600% unsecured notes due 2021 1,493 1,493 3.100% unsecured notes due 2023 745 744 3.450% unsecured notes due 2026 1,886 1,885 4.650% unsecured notes due 2046 590 590 $8 Billion Note Issuance (5)(7) 1.750% unsecured notes due 2017 - 746 2.700% unsecured notes due 2019 1,245 1,244 3.300% unsecured notes due 2021 1,242 1,242 3.800% unsecured notes due 2024 1,987 1,987 4.500% unsecured notes due 2034 494 494 4.800% unsecured notes due 2044 1,492 1,492 £700 Million Note Issuance (1)(5)(7) 2.875% unsecured Pound Sterling notes due 2020 495 521 3.600% unsecured Pound Sterling notes due 2025 371 391 €750 Million Note Issuance (1)(5)(7) 2.125% unsecured Euro notes due 2026 790 830 $4 Billion Note Issuance (6)(7) 3.100% unsecured notes due 2022 1,194 1,194 4.400% unsecured notes due 2042 492 492 $1 Billion Note Issuance (6)(7) 5.250% unsecured notes due 2019 (3) 249 249 Other (4) 30 32 Total long-term debt, less current portion $ 17,777 $ 18,705 (1) All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively. (2) Other short-term borrowings represent a mix of fixed and variable rate borrowings with various maturities and working capital facilities denominated in various foreign currencies. (3) Includes interest rate swap fair market value adjustments. See Note 8, Fair Value Measurements for additional fair value disclosures. (4) Other long-term debt represents a mix of fixed and variable rate borrowings in various foreign currencies with various maturities. (5) Notes are unsubordinated debt obligations of Walgreens Boots Alliance and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance from time to time outstanding. (6) Notes are senior debt obligations of Walgreens and rank equally with all other unsecured and unsubordinated indebtedness of Walgreens. On December 31, 2014, Walgreens Boots Alliance fully and unconditionally guaranteed the outstanding notes on an unsecured and unsubordinated basis. The guarantee, for so long as it is in place, is an unsecured, unsubordinated debt obligation of Walgreens Boots Alliance and will rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance. (7) The fair value & carrying value of the $6 billion, $8 billion, £0.7 billion, €0.75 billion, $4 billion and $1 billion note issuances as of November 30, 2016 was $5.9 billion & $6.0 billion, $7.3 billion & $7.2 billion, $0.9 billion & $0.9 billion, $0.8 billion & $0.8 billion, $1.7 billion & $1.7 billion and $0.3 billion & $0.2 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the November 30, 2016 spot rate, as applicable.

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Nov. 30, 2016
Financial Instruments [Abstract]
Notional Amounts of Derivative Instruments Outstanding	The notional amounts, fair value and balance sheet presentation of derivative instruments outstanding as of November 30, 2016 and August 31, 2016 are as follows (in millions): November 30, 2016 August 31, 2016 Notional (1) Fair Value Notional (1) Fair Value Location in Consolidated Condensed Balance Sheets Derivatives designated as fair value hedges Interest rate swaps $ 250 $ - $ 250 $ 3 Other non-current assets Derivatives not designated as hedges Foreign currency forwards 786 11 1,177 16 Other current assets Foreign currency forwards 304 2 41 - Other current liabilities Basis swaps 2 1 2 1 Other current liabilities (1) Amounts are presented in U.S. dollar equivalents, as applicable.
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gains and (Losses) due to Changes in Fair Value Recognized in Earnings	The gains and (losses) due to changes in fair value of these derivative instruments were recognized in earnings as follows (in millions): Three Months Ended November 30, Location in Consolidated Condensed Statements of Earnings 2016 2015 Foreign currency forwards Selling, general and administrative expense $ 50 $ (2 ) Foreign currency forwards Other income (expense) $ 1 $ -

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are as follows (in millions): November 30, 2016 Level 1 Level 2 Level 3 Assets Restricted cash (1) $ 174 $ 174 $ - $ - Money market funds (2) 8,624 8,624 - - Available-for-sale investments (3) 28 28 - - Foreign currency forwards (5) 11 - 11 - Liabilities Foreign currency forwards (5) 2 - 2 - Basis swaps (5) 1 - 1 - August 31, 2016 Level 1 Level 2 Level 3 Assets Restricted cash (1) $ 185 $ 185 $ - $ - Money market funds (2) 9,133 9,133 - - Available-for-sale investments (3) 32 32 - - Interest rate swaps (4) 3 - 3 - Foreign currency forwards (5) 16 - 16 - Liabilities Basis swaps (5) 1 - 1 - (1) Restricted cash consists of deposits restricted under agency agreements and cash restricted by law and other obligations. (2) Money market funds are valued at the closing price reported by the fund sponsor. (3) Fair values of quoted investments are based on current bid prices as of the balance sheet dates. (4) The fair value of interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 7, Financial Instruments for additional information. (5) The fair value of basis swaps and forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates.

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Nov. 30, 2016
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of net periodic pension costs for the defined benefit pension plans (in millions): Three Months Ended November 30, 2016 2015 Service costs $ 2 $ 1 Interest costs 43 81 Expected returns on plan assets (37 ) (65 ) Total net periodic pension costs $ 8 $ 17

Depreciation and Amortization (

Depreciation and Amortization (Tables)	3 Months Ended
	Nov. 30, 2016
Depreciation and Amortization [Abstract]
Depreciation and Amortization by Major Category	The Company has recorded the following depreciation and amortization expense in the Consolidated Condensed Statements of Earnings (in millions): Three Months Ended November 30, 2016 2015 Depreciation expense $ 335 $ 298 Intangible asset and other amortization 84 84 Total depreciation and amortization expense $ 419 $ 382

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Nov. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following is a summary of net changes in accumulated other comprehensive income by component and net of tax for the three months Pension/ post- retirement obligations Unrecognized gain (loss) on available-for- sale investments Unrealized gain (loss) on cash flow hedges Share of OCI of equity method investments Currency translation adjustment Total Balance at August 31, 2016 $ (212 ) $ 2 $ (37 ) $ (1 ) $ (2,744 ) $ (2,992 ) Other comprehensive income (loss) (11 ) (1 ) 1 (1 ) (808 ) (820 ) Tax benefit 2 - - - - 2 Net other comprehensive income (loss) (9 ) (1 ) 1 (1 ) (808 ) (818 ) Balance at November 30, 2016 $ (221 ) $ 1 $ (36 ) $ (2 ) $ (3,552 ) $ (3,810 ) Pension/ post- retirement obligations Unrecognized gain (loss) on available-for- sale investments Unrealized gain (loss) on cash flow hedges Share of OCI of equity method investments Currency translation adjustment Total Balance at August 31, 2015 $ 29 $ 259 $ (40 ) $ - $ (462 ) $ (214 ) Other 3 (5 ) - - (449 ) (451 ) Amounts reclassified from accumulated OCI - - 1 - - 1 Tax benefit - 6 - - - 6 Net other comprehensive income (loss) 3 1 1 - (449 ) (444 ) Balance at November 30, 2015 $ 32 $ 260 $ (39 ) $ - $ (911 ) $ (658 )

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Nov. 30, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table reflects results of operations of the Company’s reportable segments (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Eliminations Walgreens Boots Alliance, Inc. Three Months Ended November 30, 2016 Sales to external customers $ 20,659 $ 2,962 $ 4,880 $ - $ 28,501 Intersegment sales - - 537 (537 ) - Sales $ 20,659 $ 2,962 $ 5,417 $ (537 ) $ 28,501 Adjusted Operating Income $ 1,289 $ 213 $ 224 $ - $ 1,726 Three Months Ended November 30, 2015 Sales to external customers $ 20,370 $ 3,459 $ 5,204 $ - $ 29,033 Intersegment sales - - 592 (592 ) - Sales $ 20,370 $ 3,459 $ 5,796 $ (592 ) $ 29,033 Adjusted Operating Income $ 1,243 $ 315 $ 166 $ (5 ) $ 1,719
Reconciliation of Operating Income (Loss) from Segments to Consolidated	The following table reconciles adjusted operating income to operating income (in millions): Retail Pharmacy USA Retail Pharmacy International Pharmaceutical Wholesale Eliminations Walgreens Boots Alliance, Inc. Three Months Ended November 30, 2016 Adjusted Operating Income $ 1,289 $ 213 $ 224 $ - $ 1,726 Acquisition-related amortization (82 ) Cost transformation (81 ) LIFO provision (58 ) Adjustments to equity earnings in AmerisourceBergen (41 ) Acquisition-related costs (17 ) Operating Income $ 1,447 Three Months Ended November 30, 2015 Adjusted Operating Income $ 1,243 $ 315 $ 166 $ (5 ) $ 1,719 Acquisition-related amortization (81 ) Cost transformation (90 ) LIFO provision (46 ) Acquisition-related costs (34 ) Operating Income $ 1,468

Related Parties (Tables)

Related Parties (Tables)	3 Months Ended
	Nov. 30, 2016
Related Parties [Abstract]
Schedule of Related Party Transactions	Related party transactions (in millions): Three Months Ended November 30, 2016 November 30, 2015 Purchases, net $ 10,636 $ 10,323 November 30, 2016 August 31, 2016 Trade accounts payable, net $ 3,627 $ 3,456

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		27 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	$ 81	$ 90
Asset Impairments [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	48	25
Real Estate Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	9	52
Severance and Other Business Transition and Exit Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	24	13
Retail Pharmacy USA [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	72	85
Retail Pharmacy USA [Member] | Asset Impairments [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	46	25
Retail Pharmacy USA [Member] | Real Estate Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	9	52
Retail Pharmacy USA [Member] | Severance and Other Business Transition and Exit Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	17	8
Retail Pharmacy International [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	6	5
Retail Pharmacy International [Member] | Asset Impairments [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	2	0
Retail Pharmacy International [Member] | Real Estate Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	0	0
Retail Pharmacy International [Member] | Severance and Other Business Transition and Exit Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	4	5
Pharmaceutical Wholesale [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	3	0
Pharmaceutical Wholesale [Member] | Asset Impairments [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	0	0
Pharmaceutical Wholesale [Member] | Real Estate Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	0	0
Pharmaceutical Wholesale [Member] | Severance and Other Business Transition and Exit Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Total restructuring costs	3	$ 0
Cost Transformation Program [Member]
Restructuring Reserve Disclosures [Abstract]
Pre-tax charges incurred during the period			$ 1,000
Restructuring Reserve [Roll Forward]
Beginning Balance	275
Costs incurred, net of expected sublease income	81
Payments	(34)
Other - non cash	(48)
Currency translation adjustments	(2)
Ending Balance	272		272
Cost Transformation Program [Member] | Asset Impairments [Member]
Restructuring Reserve Disclosures [Abstract]
Pre-tax charges incurred during the period			496
Restructuring Reserve [Roll Forward]
Beginning Balance	0
Costs incurred, net of expected sublease income	48
Payments	0
Other - non cash	(48)
Currency translation adjustments	0
Ending Balance	0		0
Cost Transformation Program [Member] | Real Estate Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Pre-tax charges incurred during the period			302
Restructuring Reserve [Roll Forward]
Beginning Balance	248
Costs incurred, net of expected sublease income	9
Payments	(12)
Other - non cash	0
Currency translation adjustments	0
Ending Balance	245		245
Cost Transformation Program [Member] | Severance and Other Business Transition and Exit Costs [Member]
Restructuring Reserve Disclosures [Abstract]
Pre-tax charges incurred during the period			249
Restructuring Reserve [Roll Forward]
Beginning Balance	27
Costs incurred, net of expected sublease income	24
Payments	(22)
Other - non cash	0
Currency translation adjustments	(2)
Ending Balance	$ 27		$ 27

Operating Leases (Details)

Operating Leases (Details) $ in Millions	3 Months Ended		12 Months Ended
	Nov. 30, 2016USD ($)Lease	Nov. 30, 2015USD ($)	Aug. 31, 2016USD ($)
Operating Leased Assets [Line Items]
Interval period of renewal options	5 years
Proceeds from sale leaseback transactions	$ 436	$ 54
Charges related to facilities that were closed or relocated	17	66
Changes in reserve for facility closings and related lease termination charges [Roll Forward]
Balance at beginning of period	466	$ 446	$ 446
Provision for present value of non-cancellable lease payments on closed facilities	13		134
Assumptions about future sublease income, terminations and changes in interest rates	(1)		(34)
Interest accretion	5		27
Cash payments, net of sublease income	(27)		(107)
Balance at end of period	$ 456		$ 466
Number of leases | Lease	72
Minimum [Member]
Operating Leased Assets [Line Items]
Initial term of operating lease	15 years
Maximum [Member]
Operating Leased Assets [Line Items]
Initial term of operating lease	25 years
Potential undiscounted future payments	$ 334

Equity Method Investments, Equi

Equity Method Investments, Equity Method Investments (Details) - USD ($) $ in Millions	Nov. 30, 2016	Aug. 31, 2016
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 6,136	$ 6,174
AmerisourceBergen [Member]
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 4,968	$ 4,964
Equity method investment ownership interest percentage	26.00%	24.00%
Others [Member]
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 1,168	$ 1,210
Others [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership interest percentage	12.00%	12.00%
Others [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership interest percentage	50.00%	50.00%
Total [Member]
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 6,136	$ 6,174

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Schedule of Equity Method Investments [Line Items]
Equity earnings	$ 12	$ 11
AmerisourceBergen [Member]
Schedule of Equity Method Investments [Line Items]
Outstanding shares owned (in shares)	56,854,867		56,854,867
Percentage of outstanding common shares owned	26.00%		24.00%
Period of reporting lag	2 months
Equity investment, exceeded its proportionate share of net assets	$ 4,400
AmerisourceBergen [Member] | Level 1 [Member]
Schedule of Equity Method Investments [Line Items]
Fair market value of equity investment	4,400
Other Investments [Member]
Schedule of Equity Method Investments [Line Items]
Equity earnings	$ 12	$ 11

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets, Schedule of Goodwill (Details) $ in Millions	3 Months Ended
	Nov. 30, 2016USD ($)
Goodwill [Roll Forward]
Net book value - Beginning Period	$ 15,527
Currency translation adjustments	(324)
Net book value - Ending Period	15,203
Retail Pharmacy USA [Member]
Goodwill [Roll Forward]
Net book value - Beginning Period	9,036
Currency translation adjustments	0
Net book value - Ending Period	9,036
Retail Pharmacy International [Member]
Goodwill [Roll Forward]
Net book value - Beginning Period	3,369
Currency translation adjustments	(160)
Net book value - Ending Period	3,209
Pharmaceutical Wholesale [Member]
Goodwill [Roll Forward]
Net book value - Beginning Period	3,122
Currency translation adjustments	(164)
Net book value - Ending Period	$ 2,958

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets, Schedule of Finite-Lived Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Nov. 30, 2016	Aug. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	$ 3,878	$ 4,044
Accumulated amortization	1,465	1,439
Total amortizable intangible assets, net	2,413	2,605
Total indefinite lived intangible assets	7,315	7,697
Total intangible assets, net	9,728	10,302
Customer Relationships and Loyalty Card Holders [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	1,765	1,867
Accumulated amortization	295	275
Purchased Prescription Files [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	939	932
Accumulated amortization	625	600
Favorable Lease Interests and Non-compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	572	619
Accumulated amortization	358	388
Trade Names and Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	508	532
Accumulated amortization	115	105
Total indefinite lived intangible assets	5,326	5,604
Purchasing and Payer Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amortizable Intangible Assets	94	94
Accumulated amortization	72	71
Pharmacy Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Total indefinite lived intangible assets	$ 1,989	$ 2,093

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Goodwill and Other Intangible Assets [Abstract]
Amortization expense for intangible assets	$ 95	$ 92

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets, Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Millions	Nov. 30, 2016USD ($)
Estimated annual intangible assets amortization expense [Abstract]
2,017	$ 346
2,018	311
2,019	285
2,020	225
2,021	$ 186

Borrowings, Short-Term Borrowin

Borrowings, Short-Term Borrowings (Details) - USD ($) $ in Millions		3 Months Ended
		Nov. 30, 2016	Aug. 31, 2016
Short-Term Borrowings [Abstract]
Total short-term borrowings	[1]	$ 1,095	$ 323
1.750% Unsecured Notes Due 2017 [Member]
Short-Term Borrowings [Abstract]
Unsecured Notes	[1],[2],[3]	$ 748	0
Maturity year	[1],[2],[3]	2,017
Unsecured Pound Sterling Variable Rate Term Loan Due 2019 [Member]
Short-Term Borrowings [Abstract]
Unsecured Notes	[1]	$ 68	63
Maturity year	[1]	2,019
Other Short-Term Debt [Member]
Short-Term Borrowings [Abstract]
Other	[1],[4]	$ 279	$ 260
[1]	All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively.
[2]	Notes are unsubordinated debt obligations of Walgreens Boots Alliance and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance from time to time outstanding.
[3]	The fair value & carrying value of the $6 billion, $8 billion, £0.7 billion, €0.75 billion, $4 billion and $1 billion note issuances as of November 30, 2016 was $5.9 billion & $6.0 billion, $7.3 billion & $7.2 billion, $0.9 billion & $0.9 billion, $0.8 billion & $0.8 billion, $1.7 billion & $1.7 billion and $0.3 billion & $0.2 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the November 30, 2016 spot rate, as applicable.
[4]	Other short-term borrowings represent a mix of fixed and variable rate borrowings with various maturities and working capital facilities denominated in various foreign currencies.

Borrowings, Long-Term Debt (Det

Borrowings, Long-Term Debt (Details) - USD ($) $ in Millions		3 Months Ended
		Nov. 30, 2016	Aug. 31, 2016
Long-Term Debt [Abstract]
Other	[1],[2]	$ 30	$ 32
Total long term debt	[1]	17,777	18,705
Unsecured Pound Sterling Variable Rate Term Loan Due 2019 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1]	$ 1,735	1,833
Maturity year	[1]	2,019
1.750% unsecured notes due 2018 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,247	1,246
Stated interest rate	[1],[3],[4]	1.75%
Maturity year	[1],[3],[4]	2,018
2.600% unsecured notes due 2021 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,493	1,493
Stated interest rate	[1],[3],[4]	2.60%
Maturity year	[1],[3],[4]	2,021
3.100% unsecured notes due 2023 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 745	744
Stated interest rate	[1],[3],[4]	3.10%
Maturity year	[1],[3],[4]	2,023
3.450% unsecured notes due 2026 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,886	1,885
Stated interest rate	[1],[3],[4]	3.45%
Maturity year	[1],[3],[4]	2,026
4.650% unsecured notes due 2046 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 590	590
Stated interest rate	[1],[3],[4]	4.65%
Maturity year	[1],[3],[4]	2,046
1.750% Unsecured Notes Due 2017 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 0	746
Stated interest rate	[1],[3],[4]	1.75%
Maturity year	[1],[3],[4]	2,017
2.700% Unsecured Notes Due 2019 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,245	1,244
Stated interest rate	[1],[3],[4]	2.70%
Maturity year	[1],[3],[4]	2,019
3.300% Unsecured Notes Due 2021 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,242	1,242
Stated interest rate	[1],[3],[4]	3.30%
Maturity year	[1],[3],[4]	2,021
3.800% Unsecured Notes Due 2024 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,987	1,987
Stated interest rate	[1],[3],[4]	3.80%
Maturity year	[1],[3],[4]	2,024
4.500% Unsecured Notes Due 2034 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 494	494
Stated interest rate	[1],[3],[4]	4.50%
Maturity year	[1],[3],[4]	2,034
4.800% Unsecured Notes Due 2044 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 1,492	1,492
Stated interest rate	[1],[3],[4]	4.80%
Maturity year	[1],[3],[4]	2,044
2.875% Unsecured Pound Sterling Notes Due 2020 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 495	521
Stated interest rate	[1],[3],[4]	2.875%
Maturity year	[1],[3],[4]	2,020
3.600% Unsecured Pound Sterling Notes Due 2025 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 371	391
Stated interest rate	[1],[3],[4]	3.60%
Maturity year	[1],[3],[4]	2,025
2.125% Unsecured Euro Notes Due 2026 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[3],[4]	$ 790	830
Stated interest rate	[1],[3],[4]	2.125%
Maturity year	[1],[3],[4]	2,026
3.100% Unsecured Notes Due 2022 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[4],[5]	$ 1,194	1,194
Stated interest rate	[1],[4],[5]	3.10%
Maturity year	[1],[4],[5]	2,022
4.400% Unsecured Notes Due 2042 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[4],[5]	$ 492	492
Stated interest rate	[1],[4],[5]	4.40%
Maturity year	[1],[4],[5]	2,042
5.250% Unsecured Notes Due 2019 [Member]
Long-Term Debt [Abstract]
Carrying value of notes, net of unamortized discount and interest rate swap FMV adjustment	[1],[4],[5],[6]	$ 249	$ 249
Stated interest rate	[1],[4],[5],[6]	5.25%
Maturity year	[1],[4],[5],[6]	2,019
[1]	All notes are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated borrowings have been translated using the spot rates at November 30, 2016 and August 31, 2016, respectively.
[2]	Other long-term debt represents a mix of fixed and variable rate borrowings in various foreign currencies with various maturities.
[3]	Notes are unsubordinated debt obligations of Walgreens Boots Alliance and rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance from time to time outstanding.
[4]	The fair value & carrying value of the $6 billion, $8 billion, £0.7 billion, €0.75 billion, $4 billion and $1 billion note issuances as of November 30, 2016 was $5.9 billion & $6.0 billion, $7.3 billion & $7.2 billion, $0.9 billion & $0.9 billion, $0.8 billion & $0.8 billion, $1.7 billion & $1.7 billion and $0.3 billion & $0.2 billion, respectively. The fair values of the notes outstanding are Level 1 fair value measures and determined based on quoted market price and translated at the November 30, 2016 spot rate, as applicable.
[5]	Notes are senior debt obligations of Walgreens and rank equally with all other unsecured and unsubordinated indebtedness of Walgreens. On December 31, 2014, Walgreens Boots Alliance fully and unconditionally guaranteed the outstanding notes on an unsecured and unsubordinated basis. The guarantee, for so long as it is in place, is an unsecured, unsubordinated debt obligation of Walgreens Boots Alliance and will rank equally in right of payment with all other unsecured and unsubordinated indebtedness of Walgreens Boots Alliance.
[6]	Includes interest rate swap fair market value adjustments. See Note 8, Fair Value Measurements for additional fair value disclosures.

Borrowings, Note Issuances (Det

Borrowings, Note Issuances (Details) - USD ($) $ in Millions	Jun. 01, 2016	Nov. 30, 2016	Jun. 02, 2016
Total $6.0 billion debt issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		$ 5,900
Carrying value of the notes		6,000
Net proceeds from notes payable	$ 6,000
Total issuance costs			$ 30
Percentage of principal amount of fixed rate notes can be redeemed	101.00%
Total $8.0 Billion Debt Issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		7,300
Carrying value of the notes		7,200
Total 700 million Pounds Debt Issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		900
Carrying value of the notes		900
Total 750 million Euros Debt Issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		800
Carrying value of the notes		800
Total $4.0 Billion Debt Issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		1,700
Carrying value of the notes		1,700
Total $1.0 Billion Debt Issuance [Member]
Debt Instrument [Line Items]
Fair value of the notes		300
Carrying value of the notes		$ 200

Borrowings, Loan Agreements and

Borrowings, Loan Agreements and Other Borrowings (Details) $ in Millions	Aug. 30, 2016USD ($)	Jun. 01, 2016USD ($)	Nov. 30, 2016USD ($)Tranche	Aug. 31, 2016USD ($)	Dec. 18, 2015USD ($)	Oct. 27, 2015USD ($)
Line of Credit Facility [Line Items]
Senior unsecured bridge facility					$ 7,800	$ 12,800
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Balance outstanding at fiscal year-end			$ 0	$ 0
Average daily short-term borrowings				$ 14
Weighted-average interest rate				0.66%
Additional Bridge Loan [Member]
Line of Credit Facility [Line Items]
Term of credit agreement			90 days
Maximum borrowing capacity			$ 5,000
Bridge Credit Agreement [Member]
Line of Credit Facility [Line Items]
Term of credit agreement			364 days
Reduced commitment amount		$ 6,000
Reduced commitment amount after issuance of notes		$ 800
Maximum [Member]
Line of Credit Facility [Line Items]
Additional senior unsecured bridge facility					2,000
Maximum [Member] | Additional Bridge Loan [Member]
Line of Credit Facility [Line Items]
Senior unsecured bridge facility					$ 3,000
Term Loan [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt to total capitalization ratio			0.60
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 0
Term Loan Credit Agreement [Member]
Line of Credit Facility [Line Items]
Number of tranches | Tranche			2
Tranche One [Member]
Line of Credit Facility [Line Items]
Term of credit agreement			3 years
Tranche Two [Member]
Line of Credit Facility [Line Items]
Term of credit agreement			5 years
2016 Credit Agreements [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,000
Number of tranches | Tranche			2
Reduced commitment amount	$ 1,000

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions		3 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Effect of Fair Value Hedges on Results of Operations [Abstract]
Cumulative fair value adjustments resulted in increase in long-term debt		$ 1		$ 2
Interest Rate Swaps [Member] | Six-month LIBOR [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Fair Value		$ 250
Fixed interest rate percentage		5.25%
Foreign Currency Forwards [Member] | Not Designated as Hedging Instrument [Member] | Selling, General and Administrative Expenses [Member]
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gains and (losses) due to changes in fair value of derivative instruments		$ 50	$ (2)
Foreign Currency Forwards [Member] | Not Designated as Hedging Instrument [Member] | Other Income (Expense) [Member]
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gains and (losses) due to changes in fair value of derivative instruments		1	$ 0
Other Non-Current Assets [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Notional Amount	[1]	250		250
Derivatives assets, Fair Value		0		3
Other Current Assets [Member] | Basis Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Notional Amount	[1]			2
Derivatives assets, Fair Value				1
Other Current Assets [Member] | Foreign Currency Forwards [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Notional Amount	[1]	786		1,177
Derivatives assets, Fair Value		11		16
Other Current Liabilities [Member] | Basis Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Notional Amount	[1]	2
Derivatives assets, Fair Value		1
Other Current Liabilities [Member] | Foreign Currency Forwards [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivatives assets, Notional Amount	[1]	304		41
Derivatives assets, Fair Value		$ 2		$ 0
[1]	Amounts are presented in U.S. dollar equivalents, as applicable.

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Millions		Nov. 30, 2016	Aug. 31, 2016
Restricted Cash [Member]
Assets [Abstract]
Fair value of assets	[1]	$ 174	$ 185
Money Market Funds [Member]
Assets [Abstract]
Fair value of assets	[2]	8,624	9,133
Available-for-sale Investments [Member]
Assets [Abstract]
Fair value of assets	[3]	28	32
Interest Rate Swaps [Member]
Assets [Abstract]
Fair value of assets	[4]		3
Foreign Currency Forwards [Member]
Assets [Abstract]
Fair value of assets	[5]	11	16
Liabilities [Abstract]
Fair value of liabilities	[5]	2	9
Basis Swaps [Member]
Liabilities [Abstract]
Fair value of liabilities	[5]	1	1
Level 1 [Member] | Restricted Cash [Member]
Assets [Abstract]
Fair value of assets	[1]	174	185
Level 1 [Member] | Money Market Funds [Member]
Assets [Abstract]
Fair value of assets	[2]	8,624	9,133
Level 1 [Member] | Available-for-sale Investments [Member]
Assets [Abstract]
Fair value of assets	[3]	28	32
Level 1 [Member] | Interest Rate Swaps [Member]
Assets [Abstract]
Fair value of assets	[4]		0
Level 1 [Member] | Foreign Currency Forwards [Member]
Assets [Abstract]
Fair value of assets	[5]	0	0
Liabilities [Abstract]
Fair value of liabilities	[5]	0	0
Level 1 [Member] | Basis Swaps [Member]
Liabilities [Abstract]
Fair value of liabilities	[5]	0	0
Level 2 [Member] | Restricted Cash [Member]
Assets [Abstract]
Fair value of assets	[1]	0	0
Level 2 [Member] | Money Market Funds [Member]
Assets [Abstract]
Fair value of assets	[2]	0	0
Level 2 [Member] | Available-for-sale Investments [Member]
Assets [Abstract]
Fair value of assets	[3]	0	0
Level 2 [Member] | Interest Rate Swaps [Member]
Assets [Abstract]
Fair value of assets	[4]		3
Level 2 [Member] | Foreign Currency Forwards [Member]
Assets [Abstract]
Fair value of assets	[5]	11	16
Liabilities [Abstract]
Fair value of liabilities	[5]	2	9
Level 2 [Member] | Basis Swaps [Member]
Liabilities [Abstract]
Fair value of liabilities	[5]	1	1
Level 3 [Member] | Restricted Cash [Member]
Assets [Abstract]
Fair value of assets	[1]	0	0
Level 3 [Member] | Money Market Funds [Member]
Assets [Abstract]
Fair value of assets	[2]	0	0
Level 3 [Member] | Available-for-sale Investments [Member]
Assets [Abstract]
Fair value of assets	[3]	0	0
Level 3 [Member] | Interest Rate Swaps [Member]
Assets [Abstract]
Fair value of assets	[4]		0
Level 3 [Member] | Foreign Currency Forwards [Member]
Assets [Abstract]
Fair value of assets	[5]	0	0
Liabilities [Abstract]
Fair value of liabilities	[5]	0	0
Level 3 [Member] | Basis Swaps [Member]
Liabilities [Abstract]
Fair value of liabilities	[5]	$ 0	$ 0
[1]	Restricted cash consists of deposits restricted under agency agreements and cash restricted by law and other obligations.
[2]	Money market funds are valued at the closing price reported by the fund sponsor.
[3]	Fair values of quoted investments are based on current bid prices as of the balance sheet dates.
[4]	The fair value of interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 7, Financial Instruments for additional information.
[5]	The fair value of basis swaps and forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates.

Commitments and Contingencies (

Commitments and Contingencies (Details)	Nov. 30, 2016Lawsuit
Loss Contingencies [Line Items]
Number of lawsuits filed	10
Court of Chancery of the State of Delaware [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed	8
State of Pennsylvania in the Court of Common Pleas of Cumberland County [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed	1
Middle District of Pennsylvania [Member]
Loss Contingencies [Line Items]
Number of lawsuits filed	1

Retirement Benefits (Details)

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Employer cash contributions to defined benefit pension plans	$ 8
Employee expected additional contribution in current fiscal year	62
Walgreen Profit Sharing Retirement Trust [Member]
Defined Contribution Plan Disclosure [Line Items]
Profit sharing provision expense	57	$ 58
Alliance Boots Retirement Savings Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Cost recognized in the consolidated condensed statements of earnings	28	35
Boots and Other Pension Plans [Member]
Components of net periodic benefit costs [Abstract]
Service costs	2	1
Interest costs	43	81
Expected returns on plan assets	(37)	(65)
Total net periodic pension costs	$ 8	$ 17

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Earnings Per Share [Abstract]
Antidilutive securities excluded from EPS calculations (in shares)	4	1.1

Depreciation and Amortization57

Depreciation and Amortization (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Depreciation and Amortization [Abstract]
Depreciation expense	$ 335	$ 298
Intangible asset and other amortization	84	84
Total depreciation and amortization expense	$ 419	$ 382

Supplemental Cash Flow Disclo58

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Supplemental Cash Flow Disclosures [Abstract]
Interest paid	$ 246	$ 250
Cash paid for income taxes	$ 63	$ 50

Accumulated Other Comprehensi59

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 30,281
Other comprehensive income (loss) before reclassification adjustments	(820)	$ (451)
Amounts reclassified from accumulated OCI		1
Tax benefit	2	6
Net other comprehensive income (loss)	(865)	(445)
Ending Balance	29,692
Pension/Post-retirement Obligations [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(212)	29
Other comprehensive income (loss) before reclassification adjustments	(11)	3
Amounts reclassified from accumulated OCI		0
Tax benefit	2	0
Net other comprehensive income (loss)	(9)	3
Ending Balance	(221)	32
Unrecognized Gain (Loss) on Available-for-Sale Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	2	259
Other comprehensive income (loss) before reclassification adjustments	(1)	(5)
Amounts reclassified from accumulated OCI		0
Tax benefit	0	6
Net other comprehensive income (loss)	(1)	1
Ending Balance	1	260
Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(37)	(40)
Other comprehensive income (loss) before reclassification adjustments	1	0
Amounts reclassified from accumulated OCI		1
Tax benefit	0	0
Net other comprehensive income (loss)	1	1
Ending Balance	(36)	(39)
Share of OCI of Equity Method Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1)	0
Other comprehensive income (loss) before reclassification adjustments	(1)	0
Amounts reclassified from accumulated OCI		0
Tax benefit	0	0
Net other comprehensive income (loss)	1	0
Ending Balance	(2)	0
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2,744)	(462)
Other comprehensive income (loss) before reclassification adjustments	(808)	(449)
Amounts reclassified from accumulated OCI		0
Tax benefit	0	0
Net other comprehensive income (loss)	(808)	(449)
Ending Balance	(3,552)	(911)
AOCI Total [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2,992)	(214)
Net other comprehensive income (loss)	(818)	(444)
Ending Balance	$ (3,810)	$ (658)

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended
	Nov. 30, 2016USD ($)Segment	Nov. 30, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment	3
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	$ 28,501	$ 29,033
Adjusted Operating Income	1,726	1,719
Acquisition-related amortization	(82)	(81)
Cost transformation	(81)	(90)
LIFO provision	(58)	(46)
Adjustments to equity earnings in AmerisourceBergen	(41)
Acquisition-related costs	(17)	(34)
Operating Income	1,447	1,468
Retail Pharmacy USA [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	20,659	20,370
Retail Pharmacy International [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	2,962	3,459
Pharmaceutical Wholesale [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	5,417	5,796
Reportable Segments [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	28,501	29,033
Reportable Segments [Member] | Retail Pharmacy USA [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	20,659	20,370
Adjusted Operating Income	1,289	1,243
Reportable Segments [Member] | Retail Pharmacy International [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	2,962	3,459
Adjusted Operating Income	213	315
Reportable Segments [Member] | Pharmaceutical Wholesale [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	4,880	5,204
Adjusted Operating Income	224	166
Intersegment Eliminations [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	(537)	(592)
Adjusted Operating Income	0	(5)
Intersegment Eliminations [Member] | Retail Pharmacy USA [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	0	0
Intersegment Eliminations [Member] | Retail Pharmacy International [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	0	0
Intersegment Eliminations [Member] | Pharmaceutical Wholesale [Member]
Segment Reporting Information, Operating Income (Loss) [Abstract]
Sales	$ 537	$ 592

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Related Parties [Abstract]
Purchases, net	$ 10,636	$ 10,323
Trade accounts payable, net	$ 3,627	$ 3,456

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ in Millions	Dec. 20, 2016USD ($)Store
Subsequent Event [Line Items]
Number of stores sold | Store	865
Number of stores sold for cash | $	$ 950