v3.26.1
Debt
 9 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
Debt consisted of the following:
(in thousands)June 30,
2026		September 30,
2025
Multi-currency revolving credit facility due in 2030$17,611 $— 
Receivables securitization facility due in 2028— — 
Term loan due in 2027399,423 799,043 
Term loan due in 2029999,156 — 
Money market facility due in 2027— — 
Working capital credit facility due in 2027— — 
$750,000, 3.450% senior notes due 2027
748,781 748,150 
$500,000, 4.625% senior notes due 2027
498,227 497,309 
€500,000, 2.875% senior notes due 2028
567,484 583,903 
$500,000, 3.950% senior notes due 2029
497,247 — 
$600,000, 4.850% senior notes due 2029
597,208 596,603 
$500,000, 2.800% senior notes due 2030
497,633 497,174 
$500,000, 4.250% senior notes due 2030
496,319 — 
$1,000,000, 2.700% senior notes due 2031
994,678 993,838 
€500,000, 3.625% senior notes due 2032
565,036 581,685 
$500,000, 4.600% senior notes due 2033
496,629 — 
$500,000, 5.125% senior notes due 2034
495,545 495,104 
$700,000, 5.150% senior notes due 2035
695,324 694,909 
$1,000,000, 4.900% senior notes due 2036
989,938 — 
$500,000, 4.250% senior notes due 2045
495,955 495,792 
$500,000, 4.300% senior notes due 2047
494,287 494,088 
$500,000, 5.650% senior notes due 2056
491,713 — 
Alliance Healthcare debt87,990 1,424 
OneOncology physician notes365,163 — 
Nonrecourse debt231,894 181,751 
Total debt11,723,241 7,660,773 
Less borrowings outstanding under the multi-currency revolving credit facility17,611 — 
Less Alliance Healthcare current portion87,990 1,424 
Less OneOncology physician notes current portion58,200 — 
Less nonrecourse current portion115,354 116,361 
Long-term debt$11,444,086 $7,542,988 
Multi-Currency Revolving Credit Facility and Commercial Paper Program
The Company had a $5.5 billion multi-currency senior unsecured revolving credit facility (the “Multi-Currency Revolving Credit Facility”) with a syndicate of lenders, which was scheduled to expire in June 2030. In July 2026, the Company amended and restated the Multi-Currency Revolving Credit Facility to, among other things, extend the expiration to July 2031 and increase the aggregate amount of the commitments under the facility to $7.0 billion. Interest on borrowings under the Multi-Currency Revolving Credit Facility accrues at specified rates based upon the Company’s debt rating. The Company pays facility fees to maintain the availability under the Multi-Currency Revolving Credit Facility at specified rates based on its debt rating. The Company may choose to repay or reduce its commitments under the Multi-Currency Revolving Credit Facility at any time. The Multi-Currency Revolving Credit Facility contains covenants, including compliance with a financial leverage ratio test, as well as others that impose limitations on, among other things, indebtedness of subsidiaries and asset sales, with which the Company was compliant as of June 30, 2026. There were $17.6 million of borrowings outstanding under the Multi-Currency Revolving Credit Facility as of June 30, 2026 and none outstanding as of September 30, 2025.
The Company has a $4.5 billion commercial paper program. The commercial paper program does not increase the Company’s borrowing capacity, and it is fully backed by its Multi-Currency Revolving Credit Facility. The Company may, from time to time, issue short-term promissory notes in an aggregate amount of up to $4.5 billion at any one time. Amounts available under the program may be borrowed, repaid, and re-borrowed from time to time. The maturities on the notes will vary but may not exceed 365 days from the date of issuance. The notes will bear interest, if interest bearing, or will be sold at a discount from their face amounts. There were no borrowings outstanding under the commercial paper program as of June 30, 2026 and September 30, 2025.
Receivables Securitization Facility
The Company had a $1.5 billion receivables securitization facility (the “Receivables Securitization Facility”). In July 2026, the Company amended the Receivables Securitization Facility to, among other things, reduce the size of the facility to $1.0 billion and increase the accordion feature from $500 million to $1.0 billion. The accordion feature allows the Company to increase the commitment on the Receivables Securitization Facility by up to $1.0 billion, subject to lender approval. The Receivables Securitization Facility is scheduled to expire in June 2028. Interest rates are based on prevailing market rates for short-term commercial paper or 30-day Term SOFR (as defined in the Receivables Securitization Facility), plus a program fee. The Company pays a customary unused fee at prevailing market rates, monthly, to maintain the availability under the Receivables Securitization Facility. The Receivables Securitization Facility contains similar covenants to the Multi-Currency Revolving Credit Facility, with which the Company was compliant as of June 30, 2026. There were no borrowings outstanding under the Receivables Securitization Facility as of June 30, 2026 and September 30, 2025.
In connection with the Receivables Securitization Facility, AmerisourceBergen Drug Corporation and a specialty distribution subsidiary sell on a revolving basis certain accounts receivable to Amerisource Receivables Financial Corporation, a wholly-owned special purpose entity, which in turn sells a percentage ownership interest in the receivables to financial institutions and commercial paper conduits sponsored by financial institutions. AmerisourceBergen Drug Corporation is the servicer of the accounts receivable under the Receivables Securitization Facility. As sold receivables are collected, additional receivables may be sold up to the maximum amount available under the facility. The Company uses the facility as a financing vehicle because it generally offers an attractive interest rate relative to other financing sources. The Company securitizes its trade accounts, which are generally non-interest bearing, in transactions that are accounted for as borrowings.
Money Market Facility
The Company has an uncommitted, unsecured line of credit available to it pursuant to a money market credit agreement (the “Money Market Facility”) that allows the Company to request short-term unsecured revolving credit loans in a principal amount not to exceed $500 million on or after April 1 and before December 1 of any year and increases to $750 million on or after December 1 and before March 31 of any year. The Money Market Facility may be decreased or terminated by the bank or the Company at any time without prior notice. There were no borrowings outstanding under the Money Market Facility as of June 30, 2026 and September 30, 2025.
Working Capital Credit Facility
The Company has an uncommitted, unsecured line of credit to support its working capital needs (the “Working Capital Credit Facility”). The Working Capital Credit Facility provides the Company with the ability to request short-term, unsecured revolving credit loans from time to time in a principal amount not to exceed $500 million. The Working Capital Credit Facility was scheduled to expire in July 2026. In May 2026, the Company extended the expiration to May 2027. The Working Capital Credit Facility may be decreased or terminated by the bank or the Company at any time without prior notice. There were no borrowings outstanding under the Working Capital Credit Facility as of June 30, 2026 and September 30, 2025.
Term Loans
In January 2026, the Company entered into an agreement pursuant to which it obtained a $1.5 billion delayed draw multi-year senior unsecured term loan facility. In connection with this facility, in February 2026, the Company borrowed $500 million on a variable-rate term loan that was scheduled to mature in February 2028 (the “2028 Term Loan”) and $1.0 billion on a variable-rate term loan that matures in February 2029 (the “2029 Term Loan”) to finance a portion of the acquisition of OneOncology (see Note 2). The Company elected to make principal payments of $200 million in March 2026 and $300 million in April 2026 to repay the 2028 Term Loan.
The above term loans bear interest at a rate equal to either a Term SOFR rate or a Daily Simple SOFR rate, plus an applicable margin, or an alternate base rate, plus an applicable margin, in each case based on the Company’s public debt ratings. The Company has the right to prepay the term loans at any time, in whole or in part and without premium or penalty.
In the three months ended June 30, 2026, the Company elected to make principal payments of $400 million on the term loan due in 2027 that was originally borrowed to finance a portion of the RCA acquisition. In July 2026, the Company elected to make a principal payment of $400 million to repay this term loan in full.
364-Day Term Loan Facility
In February 2026, the Company borrowed $3.0 billion under a senior unsecured term loan facility (the “364-Day Term Loan Facility”) with a syndicate of lenders. The 364-Day Term Loan Facility was used to finance a portion of the acquisition of OneOncology. In February 2026, the Company repaid the 364-Day Term Loan Facility with the issuance of senior notes (see below) and terminated the 364-Day Term Loan Facility.
Senior Notes
In February 2026, the Company issued the following senior notes (in thousands except for interest rates):
DescriptionPrincipalInterest RateMaturity DateDiscountEffective Yield
2029 Notes$500,000 3.950%February 202999.880%3.955%
2030 Notes$500,000 4.250%November 203099.810%4.258%
2033 Notes$500,000 4.600%February 203399.947%4.602%
2036 Notes$1,000,000 4.900%February 203699.664%4.917%
2056 Notes$500,000 5.650%February 205699.456%5.681%
Interest on the 2029 Notes, the 2033 Notes, the 2036 Notes, and the 2056 Notes is payable semi-annually in arrears on August 13 and February 13 beginning on August 13, 2026. Interest on the 2030 Notes is payable semi-annually in arrears on May 15 and November 15 beginning on May 15, 2026. The Company used the proceeds from these notes to repay the 364-Day Term Loan Facility.
The senior notes discussed and illustrated in the debt table above are collectively referred to as the “Notes.” Interest on the Notes is payable semiannually in arrears, with the exception of the 2028 Notes and the 2032 Notes, which are paid annually in arrears. Most of the Notes were sold at small discounts to the principal amounts and, therefore, have effective yields that are greater than the stated interest rates in the table above. Costs incurred in connection with the issuance of the Notes were deferred and are being amortized over the terms of the Notes. The indentures governing the Notes contain restrictions and covenants, which include limitations on additional indebtedness; distributions to stockholders; the repurchase of stock and the making of other restricted payments; issuance of preferred stock; creation of certain liens; transactions with subsidiaries and other affiliates; and certain corporate acts such as mergers, consolidations, and the sale of substantially all assets. An additional covenant requires compliance with a financial leverage ratio test. The Company was compliant with all covenants as of June 30, 2026.
Alliance Healthcare Debt
Alliance Healthcare debt is comprised of uncommitted revolving credit facilities in various currencies with various rates. A substantial majority of the outstanding borrowings as of June 30, 2026 were held in Türkiye. These facilities are used to fund its working capital needs.
OneOncology Physician Notes
OneOncology has promissory notes outstanding with physician practices at various rates and maturities.
Nonrecourse Debt
Nonrecourse debt is comprised of short-term and long-term debt belonging to the Brazil subsidiaries and is repaid solely from the Brazil subsidiaries’ cash flows and such debt agreements provide that the repayment of the loans (and interest thereon) is secured solely by the capital stock, physical assets, contracts, and cash flows of the Brazil subsidiaries.