v3.26.1
Segment Information
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
13. Segment Information
We operate under two reportable segments: Pharma and GMPD. 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®. 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 Pharma 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 platforms for physician offices.
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 other markets. 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 non-reportable 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 table presents revenue for the two reportable segments and disaggregated revenue within the remaining operating segments, included in Other, and Corporate:
(in millions)202620252024
Pharmaceutical and Specialty Solutions$234,833 $204,644 $210,019 
Global Medical Products and Distribution12,719 12,636 12,381 
Nuclear and Precision Health Solutions1,851 1,578 1,369 
at-Home Solutions4,536 3,480 2,869 
OptiFreight® Logistics
405 324 274 
Other6,792 5,382 4,512 
Total segment revenue254,344 222,662 226,912 
Corporate (1)
(96)(84)(85)
Total revenue$254,248 $222,578 $226,827 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.

The following table presents revenue by geographic area:
(in millions)202620252024
United States$252,639 $220,993 $225,231 
International1,705 1,669 1,681 
Total segment revenue254,344 222,662 226,912 
Corporate (1)
(96)(84)(85)
Total revenue$254,248 $222,578 $226,827 
(1)Corporate revenue consists of the elimination of inter-segment revenue and other revenue not allocated to the segments.
Segment Profit
The Company’s Chief Executive Officer, the chief operating decision maker ("CODM"), evaluates segment performance based on segment profit, among other measures. Segment profit is segment revenue less segment cost of products sold, less segment SG&A expenses. Segment SG&A expenses include share-based compensation expense as well as allocated corporate technology and shared functions 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 operating 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;
•restructuring and employee severance;
•amortization and other acquisition-related costs;
•acquisition-related cash and share-based compensation costs;
•impairments and (gain)/loss on disposal of assets, net;
•litigation (recoveries)/charges, net;
•other (income)/expense, net;
•interest expense, net;
•impairment of equity interest in Outcomes; or
•provision for 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 $68 million, $72 million, and $59 million for fiscal 2026, 2025, and 2024, respectively.

The following tables present revenue, expenses, and segment profit for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
2026
(in millions)PharmaGMPDOther Total
Segment revenue
$234,833 $12,719 $6,792 $254,344 
Cost of products sold
229,141 10,383 5,044 244,568 
SG&A2,909 2,078 1,041 6,028 
Total segment expenses
232,050 12,461 6,085 250,596 
Segment profit$2,783 $258 $707 $3,748 
Corporate (1)
(1,135)
Consolidated operating earnings$2,613 
2025
(in millions)PharmaGMPDOther Total
Segment revenue
$204,644 $12,636 $5,382 $222,662 
Cost of products sold
199,999 10,470 4,023 214,492 
SG&A2,387 2,031 843 5,261 
Total segment expenses
202,386 12,501 4,866 219,753 
Segment profit$2,258 $135 $516 $2,909 
Corporate (1)
(634)
Consolidated operating earnings$2,275 
2024
(in millions)PharmaGMPDOther Total
Segment revenue$210,019 $12,381 $4,512 $226,912 
Cost of products sold205,864 10,264 3,367 219,495 
SG&A2,140 2,025 722 4,887 
Total segment expenses208,004 12,289 4,089 224,382 
Segment profit$2,015 $92 $423 $2,530 
Corporate (1)
(1,287)
Consolidated operating earnings$1,243 
(1)Corporate revenue and expenses consists of the elimination of inter-segment revenue and other revenue and expenses not allocated to the segments.

Segment Assets
The following table presents total assets for the two reportable segments and the remaining operating segments, included in Other, and Corporate at June 30:
(in millions)20262025
Pharmaceutical and Specialty Solutions$40,777 $37,313 
Global Medical Products and Distribution
6,651 6,889 
Other4,098 4,045 
Corporate5,773 4,875 
Total assets$57,299 $53,122 
The following tables present depreciation and amortization and additions to property and equipment for the two reportable segments and the remaining operating segments, included in Other, and Corporate:
(in millions)202620252024
Pharmaceutical and Specialty Solutions$257 $185 $184 
Global Medical Products and Distribution219 212 205 
Other112 88 79 
Corporate368 305 242 
Total depreciation and amortization$956 $790 $710 

(in millions)202620252024
Pharmaceutical and Specialty Solutions$160 $118 $76 
Global Medical Products and Distribution134 133 136 
Other111 88 81 
Corporate244 208 218 
Total additions to property and equipment$649 $547 $511 

The following table presents property and equipment, net by geographic area at June 30:
(in millions)20262025
United States$2,607 $2,422 
International424 436 
Property and equipment, net$3,031 $2,858