XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Restructuring, Impairment, and Related Charges, Net | 6 Months Ended
--- | ---
Sep. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring, Impairment, and Related Charges | Restructuring, Impairment, and Related Charges, NetThe Company recorded restructuring, impairment, and related charges, net of $30 million and $32 million for the three months ended September 30, 2022 and 2021, respectively, and $53 million and $190 million for the six months ended September 30, 2022 and 2021, respectively. These charges were included in “Restructuring, impairment, and related charges, net” in the Condensed Consolidated Statements of Operations. Restructuring Initiatives During the first quarter of fiscal 2022, the Company approved an initiative to increase operational efficiencies and flexibility by transitioning to a partial remote work model for certain employees. This initiative primarily included the rationalization of the Company’s office space in North America. Where the Company ceased using office space, it exited the portion of the facility no longer used. It also retained and repurposed certain other office locations. The Company recorded charges of $15 million and $110 million for the three and six months ended September 30, 2021, respectively, primarily related to lease right-of-use and other long-lived asset impairments, lease exit costs, and accelerated depreciation and amortization. This initiative was substantially complete in fiscal 2022 and remaining costs the Company recorded and expects to record under this initiative are not material. Restructuring, impairment, and related charges, net, for the three months ended September 30, 2022 and 2021 consisted of the following:
| Three Months Ended September 30, 2022
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Severance and employee-related costs, net | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | (5) |  |  | $ | (3) |
Exit and other-related costs (1) | — |  |  | 1 |  |  | 1 |  |  | 6 |  |  | 14 |  |  | 22 |
Asset impairments and accelerated depreciation | 3 |  |  | 6 |  |  | — |  |  | 1 |  |  | 1 |  |  | 11 |
Total | $ | 3 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | 9 |  |  | $ | 10 |  |  | $ | 30 |
(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
| Three Months Ended September 30, 2021
(In millions) | U.S. Pharmaceutical (1) |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate (1) |  | Total
Severance and employee-related costs, net | $ | — |  |  | $ | (1) |  |  | $ | 1 |  |  | $ | (2) |  |  | $ | 1 |  |  | $ | (1) |
Exit and other-related costs (2) | 2 |  |  | 1 |  |  | — |  |  | 1 |  |  | 6 |  |  | 10 |
Asset impairments and accelerated depreciation | 8 |  |  | — |  |  | 1 |  |  | 2 |  |  | 12 |  |  | 23 |
Total | $ | 10 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | 32 |
(1)Includes costs related to the transition to a partial remote work model described above. (2)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. Restructuring, impairment, and related charges, net, for the six months ended September 30, 2022 and 2021 consisted of the following:
| Six Months Ended September 30, 2022
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Severance and employee-related costs, net | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | (6) |  |  | $ | (1) |
Exit and other-related costs (1) | 1 |  |  | 3 |  |  | 2 |  |  | 8 |  |  | 29 |  |  | 43 |
Asset impairments and accelerated depreciation | 3 |  |  | 11 |  |  | — |  |  | 1 |  |  | (4) |  |  | 11 |
Total | $ | 7 |  |  | $ | 14 |  |  | $ | 2 |  |  | $ | 11 |  |  | $ | 19 |  |  | $ | 53 |
(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
| Six Months Ended September 30, 2021
(In millions) | U.S. Pharmaceutical (1) |  | Prescription Technology Solutions (1) |  | Medical-Surgical Solutions (1) |  | International (2) |  | Corporate (1) |  | Total
Severance and employee-related costs, net | $ | 2 |  |  | $ | (1) |  |  | $ | 1 |  |  | $ | 10 |  |  | $ | 1 |  |  | $ | 13 |
Exit and other-related costs (3) | 4 |  |  | 2 |  |  | 2 |  |  | 15 |  |  | 27 |  |  | 50 |
Asset impairments and accelerated depreciation | 16 |  |  | 17 |  |  | 5 |  |  | 36 |  |  | 53 |  |  | 127 |
Total | $ | 22 |  |  | $ | 18 |  |  | $ | 8 |  |  | $ | 61 |  |  | $ | 81 |  |  | $ | 190 |
(1)Includes costs related to the transition to a partial remote work model described above. (2)Includes costs related to the transition to a partial remote work model described above, U.K. operating model and cost optimization efforts, and costs for optimization programs in Canada. (3)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the six months ended September 30, 2022:
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Balance, March 31, 2022 (1) | $ | 11 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 56 |  |  | $ | 59 |  |  | $ | 130 |
Restructuring, impairment, and related charges, net | 7 |  |  | 14 |  |  | 2 |  |  | 11 |  |  | 19 |  |  | 53 |
Non-cash charges | (3) |  |  | (11) |  |  | — |  |  | (1) |  |  | 4 |  |  | (11) |
Cash payments | (3) |  |  | (3) |  |  | (2) |  |  | (6) |  |  | (25) |  |  | (39) |
Other (2) | (1) |  |  | — |  |  | — |  |  | (24) |  |  | 1 |  |  | (24) |
Balance, September 30, 2022 (3) | $ | 11 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 36 |  |  | $ | 58 |  |  | $ | 109 |
(1)As of March 31, 2022, the total reserve balance was $130 million, of which $58 million was recorded in “Other accrued liabilities,” $36 million was recorded in “Liabilities held for sale,” and $36 million was recorded in “Other non-current liabilities” in the Condensed Consolidated Balance Sheet. (2)Other primarily includes cumulative translation adjustments and transfers to certain other liabilities. For the Company’s International segment, other also includes a reduction of the liability related to the sale of the U.K. disposal group in April 2022, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.” (3)As of September 30, 2022, the total reserve balance was $109 million, of which $60 million was recorded in “Other accrued liabilities,” $22 million was recorded in “Liabilities held for sale,” and $27 million was recorded in “Other non-current liabilities” in the Condensed Consolidated Balance Sheet.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration