Analysis of Debt

Walgreens Boots Alliance Inc., balance sheet: debt

US$ in millions

	Aug 31, 2019	Aug 31, 2018	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014
Short-term debt	5,738)	1,966)	251)	323)	1,068)	774)
Long-term debt	11,098)	12,431)	12,684)	18,705)	13,315)	3,736)
Total borrowings (carrying amount)	16,836)	14,397)	12,935)	19,028)	14,383)	4,510)

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Debt item	Description	The company
Total borrowings (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Walgreens Boots Alliance Inc. total debt increased from 2017 to 2018 and from 2018 to 2019.

	Aug 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings	4,488)
Unsecured Pound Sterling variable rate term loan due 2019	—)
$6 Billion Note Issuance	2,600)
$8 Billion Note Issuance	6,800)
£700 Million Note Issuance	900)
€750 Million Note Issuance	900)
$4 Billion Note Issuance	1,700)
$1 Billion Note Issuance	—)
Other	25)
Total borrowings (fair value)	17,413)
Financial Ratio
Debt, fair value to carrying amount ratio	1.03

Weighted-average interest rate on debt: 3.49%

Interest rate	Debt amount¹	Interest rate × Debt amount
3.45%	1,890)	65)
4.65%	591)	27)
3.30%	1,247)	41)
3.80%	1,992)	76)
4.50%	495)	22)
4.80%	1,492)	72)
2.88%	488)	14)
3.60%	365)	13)
2.13%	824)	18)
3.10%	1,197)	37)
4.40%	493)	22)
3.07%	2,400)	74)
2.70%	1,250)	34)
Total	14,724)	514)
3.49%

¹ US$ in millions

² Weighted-average interest rate = 100 × 514 ÷ 14,724 = 3.49%

Walgreens Boots Alliance Inc. (NASDAQ:WBA)