Cardinal Health Files 2024 10-K

TL;DR

Cardinal Health filed its 2024 10-K, detailing FY24 financials. All systems go.

AI Summary

Cardinal Health Inc. filed its 10-K for the fiscal year ending June 30, 2024. The company, headquartered in Dublin, Ohio, operates in the wholesale distribution of drugs and sundries. The filing details its financial performance and business operations, including assets, liabilities, and expenses such as interest expense.

Why It Matters

This annual report provides investors and stakeholders with a comprehensive overview of Cardinal Health's financial health and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 20240630 — Fiscal Year End (The report covers the period up to this date.)

Key Players & Entities

• CARDINAL HEALTH INC (company) — Filer
• 20240630 (date) — Fiscal Year End
• DUBLIN, OH (location) — Company Headquarters
• 7000 CARDINAL PLACE (address) — Business and Mail Address
• 6147573033 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $226.8 billion — evenue Revenue increased 11 percent to $226.8 billion for fiscal 2024 and 13 percent to $205.
• $205.0 billion — llion for fiscal 2024 and 13 percent to $205.0 billion for fiscal 2023 compared to their respe
• $1.2 billion — ts. We had GAAP operating earnings of $1.2 billion and $752 million during fiscal 2024 and
• $752 million — operating earnings of $1.2 billion and $752 million during fiscal 2024 and 2023, respective
• $675 million — and 2023, respectively, which included $675 million and $1.2 billion pre-tax non-cash goodw
• $607 million — ents." We had a GAAP operating loss of $607 million during fiscal 2022, which included $2.1
• $2.1 billion — lion during fiscal 2022, which included $2.1 billion pre-tax non-cash goodwill impairment ch
• $675 m — pre-tax goodwill impairment charges of $675 million, $1.2 billion and $2.1 billion re
• $58 m — ax benefit related to these charges was $58 million, $92 million and $140 million, re
• $92 million — lated to these charges was $58 million, $92 million and $140 million, respectively, and wer
• $140 m — harges was $58 million, $92 million and $140 million, respectively, and were included
• $7.53 — AAP diluted EPS increased 29 percent to $7.53 due to the factors impacting non-GAAP o
• $5.85 — AAP diluted EPS increased 15 percent to $5.85 due to a lower share count, the factors
• $5.1 billion — Our cash and equivalents balance was $5.1 billion at June 30, 2024 compared to $4.1 billi
• $4.1 billion — .1 billion at June 30, 2024 compared to $4.1 billion at June 30, 2023. During fiscal 2024, n

Filing Documents

• cah-20240630.htm (10-K) — 3294KB
• a24q4_10kx63024xex10110.htm (EX-10.1 10) — 83KB
• a24q4_10kx63024xex10111.htm (EX-10.1 11) — 66KB
• a24q4_10kx63024xexhibit1094.htm (EX-10.9 4) — 29KB
• a24q4_10kx63024xexhibit1095.htm (EX-10.9 5) — 31KB
• a24q4_10kx63024xexhibit19.htm (EX-19) — 50KB
• a24q4_10kx63024xexhibit2111.htm (EX-21.1) — 76KB
• a24q4_10kx63024xexhibit2311.htm (EX-23.1) — 22KB
• a24q4_10kx063024xex3111.htm (EX-31.1) — 10KB
• a24q4_10kx063024xex3121.htm (EX-31.2) — 10KB
• a24q4_10kx063024xex3211.htm (EX-32.1) — 6KB
• a24q4_10kx63024xexhibit97.htm (EX-97) — 33KB
• a24q4_10kx063024xex9911.htm (EX-99.1) — 40KB
• cah-20240630_g1.jpg (GRAPHIC) — 24KB
• cah-20240630_g2.jpg (GRAPHIC) — 23KB
• cah-20240630_g3.jpg (GRAPHIC) — 19KB
• cah-20240630_g4.jpg (GRAPHIC) — 19KB
• cah-20240630_g5.jpg (GRAPHIC) — 29KB
• cah-20240630_g6.jpg (GRAPHIC) — 119KB
• 0000721371-24-000056.txt ( ) — 19908KB
• cah-20240630.xsd (EX-101.SCH) — 99KB
• cah-20240630_cal.xml (EX-101.CAL) — 92KB
• cah-20240630_def.xml (EX-101.DEF) — 696KB
• cah-20240630_lab.xml (EX-101.LAB) — 1084KB
• cah-20240630_pre.xml (EX-101.PRE) — 1021KB
• cah-20240630_htm.xml (XML) — 3878KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 3 Explanation and Reconciliation of Non-GAAP Financial Measures 22

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 25

Risk Factors

Risk Factors 34 Cybersecurity 43

Legal Proceedings

Legal Proceedings 44 Market for Registrant's Common Equity 45 Reports 47

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Directors, Executive Officers and Corporate Governance 87 Exhibits 89 Form 10-K Cross Reference Index 94

Signatures

Signatures 95 1 Cardinal Health | Fiscal 2024 Form 10-K Introduction Introduction References to Cardinal Health and Fiscal Years As used in this report, "we," "our," "us," "Cardinal Health" and similar pronouns refer to Cardinal Health, Inc. and its majority-owned and consolidated subsidiaries, unless the context requires otherwise. Our fiscal year ends on June 30. References to fiscal 2025, 2024, 2023, 2022, 2021 and 2020 are to the fiscal years ended June 30, 2025, 2024, 2023, 2022, 2021 and 2020, respectively. Except as otherwise specified, information in this report is provided as of June 30, 2024. Non-GAAP Financial Measures In this report, we use financial measures that are derived from consolidated financial data but are not presented in our financial statements that are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). These measures are considered "non-GAAP financial measures" under the Securities and Exchange Commission ("SEC") rules. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in the "Explanation and Reconciliation of Non-GAAP Financial Measures" section following MD&A in this report.

Management's Discussion and Analysis ("MD&A") of Financial Condition and Results of Operations

Management's Discussion and Analysis ("MD&A") of Financial Condition and Results of Operations Our MD&A within this Form 10-K generally discusses fiscal 2024 and fiscal 2023 items and year-over-year comparisons between fiscal 2024 and fiscal 2023. This Form 10-K also includes fiscal 2022 items and discussions of year-over-year comparisons between fiscal 2023 and fiscal 2022. The periods discussed in this Form 10-K have been revised herein to correct an error identified during the preparation of this Form 10-K, as well as to correct other unrelated immaterial errors. The revisions ensure comparability across all periods reflected herein. Please refer to Note 1 of the "Notes to the Consolidated Financial Statements" for additional information about these corrections. Important Information Regarding Forward-Looking Statements This report (including information incorporated by reference) includes forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. Many forward-looking statements appear in MD&A and Risk Factors, but there are others throughout this report, which may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and expense accruals. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these risks and uncertainties are described in "Risk Factors" in this report and in Exhibit 99.1 to the Form 10-K included in this report. Forward-looking statements in this report speak only as of the date of this document. Except to the extent required by applicable law, we undertake no obligation to update or revise any forward-looking statement. Available In

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations About Cardinal Health Cardinal Health, Inc., an Ohio corporation formed in 1979, is a global healthcare services and products company providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and patients in the home. We provide pharmaceuticals and medical products and cost-effective solutions that enhance supply chain efficiency. We connect patients, providers, payers, pharmacists and manufacturers for integrated care coordination. Effective January 1, 2024, we began operating under an updated organizational structure and re-aligned our financial reporting structure under two reportable segments: Pharmaceutical and Specialty Solutions ("Pharma") segment and Global Medical Products and Distribution ("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. Pharmaceutical and Specialty Solutions Segment 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; and repackages generic pharmaceuticals and over-the-counter healthcare products. Global Medical Products and Distribution Segment Our GMPD segment manufactures, sources and distributes Cardinal Health brand medical, surgical and laboratory products, which are sold in the United States, Canada, Europe, Asia and othe

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View this 10-K filing on SEC EDGAR