Summary
Cardinal Health Inc. (CAH) filed an 8-K on October 19, 2005, to disclose adjustments to its historical financial reporting for reportable segments. These adjustments are primarily driven by a change in the company's methodology for allocating corporate costs, which aims to provide a more accurate reflection of segment performance by better aligning overhead expenses with the segments that benefit from them. This change will be further detailed in upcoming Form 10-Q filings.
Key Highlights
- 1Cardinal Health is restating historical segment financial data due to a change in corporate cost allocation methodology.
- 2The new methodology is intended to more accurately allocate corporate costs to segments receiving the related benefit.
- 3The Pharmaceutical Technologies and Services segment's Humacao, Puerto Rico operations are being classified as discontinued operations.
- 4This reclassification is effective from the first quarter of fiscal year 2006.
- 5More detailed information regarding these adjustments will be provided in the Form 10-Q for the quarter ended September 30, 2005.
- 6The adjusted historical segment information is furnished as Exhibit 99.01 to this 8-K filing.
- 7The company emphasizes that this information is furnished, not filed, and therefore not subject to Section 18 of the Exchange Act.