8-KOther EventsExhibits & Filings

Cencora, Inc. 8-K Report, Corporate Update (Jul 16, 2013)

Filed July 16, 2013For Securities:COR

Summary

This Form 8-K filing from Cencora, Inc. (formerly AmerisourceBergen Corporation) on July 16, 2013, primarily serves to provide retrospective financial adjustments to its 2012 Form 10-K. The company is formally reporting the divestiture of AmerisourceBergen Canada Corporation (ABCC), which was completed on May 31, 2013. This action was driven by a challenging economic environment in Canada. The core purpose of this filing is to reclassify ABCC's financial data. Specifically, ABCC's assets and liabilities are now presented as 'held for sale,' and its operating results have been segregated as 'discontinued operations' for all periods previously reported. Investors should note that this is a retrospective revision to historical financial statements, not an announcement of new operational changes or financial performance for the current reporting period.

Key Highlights

  • 1Cencora, Inc. (formerly AmerisourceBergen Corporation) completed the divestiture of AmerisourceBergen Canada Corporation (ABCC) on May 31, 2013.
  • 2The divestiture was undertaken due to a challenging economic environment in the Canadian pharmaceutical product distribution market.
  • 3This 8-K filing serves to retrospectively revise historical financial information in the 2012 Form 10-K.
  • 4Assets and liabilities of ABCC are now classified as 'held for sale'.
  • 5ABCC's operating results are now classified as 'discontinued operations' for all previously presented periods.
  • 6The filing incorporates updated financial data and management discussion related to this reclassification.
  • 7The company is also providing updated certifications from its CEO and CFO and consents from its auditors.

Frequently Asked Questions

This 8-K is filed to formally report the completed divestiture of AmerisourceBergen Canada Corporation (ABCC) and to retrospectively adjust historical financial statements in the 2012 Form 10-K to reflect ABCC as discontinued operations and its assets/liabilities as held for sale.

No, this filing is not announcing new operational changes or current financial performance. It is a retrospective adjustment to prior financial reporting due to a divestiture that was committed to in March 2013 and completed in May 2013.

Classifying ABCC's results as 'discontinued operations' means that its financial performance is separated from the company's ongoing, core business operations. This is done for periods prior to the sale to provide a clearer view of the continuing business performance.

The updated financial information, including Selected Financial Data, Management's Discussion and Analysis, and Financial Statements, is provided as Exhibit 99.1 to this Form 8-K filing. This exhibit revises specific items within the company's 2012 Form 10-K.