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Segments of Business (Tables) | 12 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Segment Information | Financial information relating to the Company’s reportable operating segments and reconciliations to the consolidated totals was as follows:
| Years Ended March 31,
(In millions) | 2026 |  | 2025 |  | 2024
Segment revenues (1) |  |  |  |  |
North American Pharmaceutical | $ | 336,652 |  |  | $ | 304,507 |  |  | $ | 261,368 |
Oncology & Multispecialty | 48,423 |  |  | 36,862 |  |  | 30,490 |
Prescription Technology Solutions | 5,805 |  |  | 5,216 |  |  | 4,769 |
Medical-Surgical Solutions | 11,507 |  |  | 11,380 |  |  | 11,309 |
Other | 1,043 |  |  | 1,086 |  |  | 1,015 |
Total revenues | $ | 403,430 |  |  | $ | 359,051 |  |  | $ | 308,951 |
Other segment expense, net (2) |  |  |  |  |
North American Pharmaceutical (3) | $ | 332,994 |  |  | $ | 301,562 |  |  | $ | 259,030 |
Oncology & Multispecialty (4) | 47,274 |  |  | 36,095 |  |  | 29,783 |
Prescription Technology Solutions (5) | 4,761 |  |  | 4,341 |  |  | 3,934 |
Medical-Surgical Solutions (6) | 10,569 |  |  | 10,601 |  |  | 10,354 |
Other (7) | 453 |  |  | 1,032 |  |  | 958 |
Total other expense, net | $ | 396,051 |  |  | $ | 353,631 |  |  | $ | 304,059 |
Segment operating profit |  |  |  |  |
North American Pharmaceutical | $ | 3,658 |  |  | $ | 2,945 |  |  | $ | 2,338 |
Oncology & Multispecialty | 1,149 |  |  | 767 |  |  | 707 |
Prescription Technology Solutions | 1,044 |  |  | 875 |  |  | 835 |
Medical-Surgical Solutions | 938 |  |  | 779 |  |  | 955 |
Other | 590 |  |  | 54 |  |  | 57 |
Subtotal | 7,379 |  |  | 5,420 |  |  | 4,892 |
Corporate expenses, net (8) | (931) |  |  | (796) |  |  | (851) |
Interest expense | (247) |  |  | (265) |  |  | (252) |
Income before income taxes | $ | 6,201 |  |  | $ | 4,359 |  |  | $ | 3,789 |
Segment depreciation and amortization (9) |  |  |  |  |
North American Pharmaceutical | $ | 134 |  |  | $ | 155 |  |  | $ | 197 |
Oncology & Multispecialty | 240 |  |  | 148 |  |  | 137 |
Prescription Technology Solutions | 82 |  |  | 86 |  |  | 84 |
Medical-Surgical Solutions | 96 |  |  | 91 |  |  | 82 |
Other | 4 |  |  | 18 |  |  | 14 |
Corporate | 173 |  |  | 138 |  |  | 121 |
Total segment depreciation and amortization | $ | 729 |  |  | $ | 636 |  |  | $ | 635 |
Segment expenditures for long-lived assets (10) |  |  |  |  |
North American Pharmaceutical | $ | 334 |  |  | $ | 243 |  |  | $ | 159 |
Oncology & Multispecialty | 78 |  |  | 88 |  |  | 96 |
Prescription Technology Solutions | 4 |  |  | 11 |  |  | 31 |
Medical-Surgical Solutions | 94 |  |  | 163 |  |  | 159 |
Other | 10 |  |  | 17 |  |  | 13 |
Corporate | 225 |  |  | 337 |  |  | 229 |
Total segment expenditures for long-lived assets | $ | 745 |  |  | $ | 859 |  |  | $ | 687 |
(1)Revenues from services on a disaggregated basis represent less than 1% of the North American Pharmaceutical segment’s total revenues, approximately 7% of the Oncology & Multispecialty segment’s total revenues, approximately 43% of the Prescription Technology Solutions segment’s total revenues, and less than 1% of the Medical-Surgical Solutions segment’s total revenues. The Company’s former Norwegian operations are included in Other. Revenues for the four reportable segments are derived in the U.S and Canada. (2)Other segment expense, net include cost of sales, total operating expenses, and other income, net, for the Company’s reportable segments. (3)The Company’s North American Pharmaceutical other segment expense, net includes the following: •a credit of $210 million, a charge of $82 million, and a credit of $157 million for the years ended March 31, 2026, 2025, and 2024, respectively, related to the LIFO method of accounting for inventories. These amounts were recorded within “Cost of sales” in the Company’s Consolidated Statements of Operations; •cash receipts for the Company’s share of antitrust legal settlements were $23 million, $444 million, and $244 million for the years ended March 31, 2026, 2025, and 2024, respectively. These gains were recorded within “Cost of sales” in the Company’s Consolidated Statements of Operations; •a charge of $605 million for the year ended March 31, 2025 to remeasure the assets and liabilities of the Canadian retail disposal group to fair value less costs to sell, as discussed in Financial Note 2, “Business Acquisitions and Divestitures;” •related to the bankruptcy of the Company’s customer Rite Aid Corporation (including certain of its subsidiaries, “Rite Aid”), the Company recognized a credit of $206 million for the year ended March 31, 2025 to reassess the previously reserved prepetition balance and a charge of $725 million for the year ended March 31, 2024 which primarily reflects the initial provision for bad debts. These were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statements of Operations; •restructuring charges of $59 million for the year ended March 31, 2025 for restructuring initiatives, as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net;” and •charges of $57 million and $74 million for the years ended March 31, 2025 and 2024, respectively, related to the estimated liability for opioid-related claims, as discussed in Financial Note 17, “Commitments and Contingent Liabilities." (4)The Company’s Oncology & Multispecialty other segment expense, net includes the following: •charges of $96 million for the year ended March 31, 2026 related to the acquisition and integration of PRISM Vision and Core Ventures, which were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statement of Operations; •a net gain of $51 million for the year ended March 31, 2026 related to the sale of an investment and market decisions, which was recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statement of Operations; and •a loss of $43 million for the year ended March 31, 2025 related to one of the Company’s equity method investments, which was recorded within “Other income, net” in the Company’s Consolidated Statement of Operations. (5)The Company’s Prescription Technology Solutions other segment expense, net includes gains of $78 million in fiscal 2024 resulting from fair value adjustments of the Company’s contingent consideration liability related to the RxSS acquisition, which were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statement of Operations. (6)The Company’s Medical-Surgical Solutions other segment expense, net includes the following: •charges of $25 million for the year ended March 31, 2026 related to the Company’s planned separation of its Medical‑Surgical Solutions segment, which were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statement of Operations; and •restructuring charges of $43 million and $204 million for the years ended March 31, 2026 and 2025, respectively, for restructuring initiatives, as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net.” (7)The Company’s other segment expense, net for Other for the year ended March 31, 2026 includes a net gain of $503 million related to the sale of the Norway disposal group, as discussed in Financial Note 2, “Business Acquisitions and Divestitures.” (8)Corporate expenses, net, includes the following: •charges of $52 million for the year ended March 31, 2026 related to the Company’s planned separation of its Medical‑Surgical Solutions business, which were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statement of Operations; •a net charge of $23 million for the year ended March 31, 2026 related to the sale of our Norway disposal group as discussed in Financial Note 2, “Business Acquisitions and Divestitures;” •a charge of $87 million for the year ended March 31, 2025 related to the termination of the U.K. pension plan as discussed in Financial Note 13, “Pension Benefits;” •a charge of $62 million for the year ended March 31, 2025 related to the effect of accumulated other comprehensive loss components from the Canadian retail disposal group, as discussed in Financial Note 2, “Business Acquisitions and Divestitures;” •a net gain of $101 million and a net loss of $24 million for the years ended March 31, 2025 and 2024, respectively, related to the Company’s investments in equity securities of certain U.S. growth stage companies in the healthcare industry, as discussed in Financial Note 15, “Fair Value Measurements;” •net charges of $51 million and $73 million for the years ended March 31, 2025 and 2024, respectively, related to the estimated liability for opioid-related claims, as discussed in Financial Note 17, “Commitments and Contingent Liabilities;” •restructuring charges of $158 million, $68 million, and $64 million for the years ended March 31, 2026, 2025, and 2024, respectively, for restructuring initiatives, as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net;” and •charges of $11 million, $14 million, and $35 million for the years ended March 31, 2026, 2025, and 2024, respectively, for opioid-related costs, primarily litigation expenses, which were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Consolidated Statements of Operations. (9)Amounts primarily consist of amortization of acquired intangible assets purchased in connection with business acquisitions and capitalized software for internal use as well as depreciation and amortization of property, plant, and equipment, net. (10)Long-lived assets consist of property, plant, and equipment, net and capitalized software.
Schedule of Long-lived Assets By Geographic Areas | Long-lived assets by geographic areas were as follows:
| March 31,
(In millions) | 2026 |  | 2025
Long-lived assets |  |  |
United States | $ | 3,177 |  |  | $ | 2,877 |
Foreign | 255 |  |  | 306 |
Total long-lived assets | $ | 3,432 |  |  | $ | 3,183 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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