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Segment Information | 6 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 13. Segment Information Effective January 1, 2024, we operated under an updated organizational structure and re-aligned our reporting structure under two reportable segments: Pharmaceutical and Specialty Solutions segment and GMPD segment. All remaining operating segments that are not significant enough to require separate reportable segment disclosures are included in Other, which is comprised of Nuclear and Precision Health Solutions, at-Home Solutions and OptiFreight® Logistics. The factors for determining the reportable segments include the manner in which management evaluates performance for purposes of allocating resources and assessing performance combined with the nature of the individual business activities. Our previously reported segment results have been recast to conform to this re-aligned reporting structure and reflect changes in the elimination of inter-segment revenue and allocated corporate technology and shared function expenses, which are driven by the reporting structure change. Our Pharmaceutical and Specialty Solutions segment distributes branded and generic pharmaceutical, specialty pharmaceutical and over-the-counter healthcare and consumer products in the United States. This segment also provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products; provides pharmacy management services to hospitals and operates a limited number of pharmacies, including pharmacies in community health centers; repackages generic pharmaceuticals and over the counter healthcare products; and includes our managed services organization for independent community oncologists. Our GMPD segment manufactures, sources and distributes Cardinal Health branded medical, surgical and laboratory products, which are sold in the United States, Canada, Europe, Asia and other markets. In addition to distributing Cardinal Health branded products, this segment also distributes a broad range of medical, surgical, and laboratory products known as national brand products to hospitals, ambulatory surgery centers, clinical laboratories and other healthcare providers in the United States and Canada. The remaining three operating segments included in Other are Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight® Logistics. These operating segments respectively operate nuclear pharmacies and radiopharmaceutical manufacturing facilities, distribute medical products to patients' homes in the United States, and provide supply chain services and solutions to our customers. Revenue The following tables present revenue for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
| Three Months Ended December 31,
(in millions) | 2024 |  | 2023
Pharmaceutical and Specialty Solutions | $ | 50,849 |  |  | $ | 53,202 |
Global Medical Products and Distribution | 3,154 |  |  | 3,127 |
Nuclear and Precision Health Solutions | 372 |  |  | 330 |
at-Home Solutions | 835 |  |  | 739 |
OptiFreight® Logistics | 76 |  |  | 66 |
Other | 1,283 |  |  | 1,135 |
Total segment revenue | 55,286 |  |  | 57,464 |
Corporate (1) | (22) |  |  | (22) |
Total revenue | $ | 55,264 |  |  | $ | 57,442 |
| Six Months Ended December 31,
(in millions) | 2024 |  | 2023
Pharmaceutical and Specialty Solutions | $ | 98,839 |  |  | $ | 103,790 |
Global Medical Products and Distribution | 6,277 |  |  | 6,159 |
Nuclear and Precision Health Solutions | 745 |  |  | 654 |
at-Home Solutions | 1,574 |  |  | 1,406 |
OptiFreight® Logistics | 150 |  |  | 126 |
Other | 2,469 |  |  | 2,186 |
Total segment revenue | 107,585 |  |  | 112,135 |
Corporate (1) | (44) |  |  | (43) |
Total revenue | $ | 107,541 |  |  | $ | 112,092 |
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments. The following tables present revenue by geographic area:
| Three Months Ended December 31,
(in millions) | 2024 |  | 2023
United States | $ | 54,858 |  |  | $ | 57,049 |
International | 428 |  |  | 415 |
Total segment revenue | 55,286 |  |  | 57,464 |
Corporate (1) | (22) |  |  | (22) |
Total revenue | $ | 55,264 |  |  | $ | 57,442 |
| Six Months Ended December 31,
(in millions) | 2024 |  | 2023
United States | $ | 106,749 |  |  | $ | 111,319 |
International | 836 |  |  | 816 |
Total segment revenue | 107,585 |  |  | 112,135 |
Corporate (1) | (44) |  |  | (43) |
Total revenue | $ | 107,541 |  |  | $ | 112,092 |
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments. Segment Profit We evaluate segment performance based on segment profit, among other measures. Segment profit is segment revenue, less segment cost of products sold, less segment distribution, selling, general and administrative ("SG&A") expenses. Segment SG&A expenses include share-based compensation expense as well as allocated corporate technology and shared function expenses, including corporate management, corporate finance, financial and customer care shared services, human resources, information technology and legal and compliance, including certain litigation defense costs. Corporate expenses are allocated to the segments based on headcount, level of benefit provided and other ratable allocation methodologies. The results attributable to noncontrolling interests are recorded within segment profit. We do not allocate the following items to our segments: •last-in first-out, or ("LIFO"), inventory charges/(credits); •state opioid assessment related to prior fiscal years; •shareholder cooperation agreement costs; •restructuring and employee severance; •amortization and other acquisition-related costs; •impairments and (gain)/loss on disposal of assets, net; we recognized a pre-tax goodwill impairment charge of $585 million during the six months ended December 31, 2023; •litigation (recoveries)/charges, net; •other (income)/expense, net; •interest expense, net; •loss on early extinguishment of debt; or •provision for/(benefit from) income taxes In addition, certain investment spending, certain portions of enterprise-wide incentive compensation and other spending are not allocated to the segments. Investment spending generally includes the first-year spend for certain projects that require incremental investments in the form of additional operating expenses. Because approval for these projects is dependent on executive management, we retain these expenses at Corporate. Investment spending within Corporate was $15 million and $27 million for the three and six months ended December 31, 2024, respectively, and $14 million and $20 million for the three and six months ended December 31, 2023, respectively. The following tables present segment profit for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
| Three Months Ended December 31,
(in millions) | 2024 |  | 2023
Pharmaceutical and Specialty Solutions | $ | 531 |  |  | $ | 495 |
Global Medical Products and Distribution | 18 |  |  | 11 |
Other (1) | 118 |  |  | 106 |
Total segment profit | 667 |  |  | 612 |
Corporate | (118) |  |  | (107) |
Total operating earnings | $ | 549 |  |  | $ | 505 |
| Six Months Ended December 31,
(in millions) | 2024 |  | 2023
Pharmaceutical and Specialty Solutions | $ | 1,061 |  |  | $ | 951 |
Global Medical Products and Distribution | 26 |  |  | 23 |
Other (1) | 222 |  |  | 202 |
Total segment profit | 1,309 |  |  | 1,176 |
Corporate | (192) |  |  | (703) |
Total operating earnings | $ | 1,117 |  |  | $ | 473 |
(1)Comprised of the remaining operating segments, Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight® Logistics. Segment Assets The following table presents total assets for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
(in millions) | December 31, 2024 |  | June 30, 2024
Pharmaceutical and Specialty Solutions | $ | 32,125 |  |  | $ | 29,149 |
Global Medical Products and Distribution | 7,055 |  |  | 7,047 |
Other | 2,720 |  |  | 2,606 |
Corporate | 5,102 |  |  | 6,319 |
Total assets | $ | 47,002 |  |  | $ | 45,121 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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