What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to formally announce and detail a change in Cencora's (formerly AmerisourceBergen) reportable business segments, effective from the beginning of fiscal year 2022. It provides recast financial information to reflect this new structure, ensuring historical data is consistent with the updated reporting segments.

Why did Cencora change its reporting segments?

The change in reporting segments was a strategic decision made to better reflect the company's expanded international presence, particularly following the significant acquisition of Alliance Healthcare in June 2021. The new structure aims to provide a clearer view of its U.S. and International healthcare operations.

What are the new reporting segments?

Cencora's operations are now reported under two main segments: U.S. Healthcare Solutions and International Healthcare Solutions. The former includes a range of U.S.-based services and businesses, while the latter consolidates its international operations, including those acquired through Alliance Healthcare.

Does this filing restate the company's financial statements?

No, this 8-K filing is not an amendment to the 2021 Form 10-K or a restatement of the financial statements included therein. It serves to provide recast financial information for prior periods to reflect the new segment reporting structure, ensuring comparability. For updated financial information and subsequent events, investors should refer to the company's subsequent SEC filings, such as their Form 10-Q reports.

COR 8-K SEC Disclosure

Summary

Cencora, Inc. (formerly AmerisourceBergen) filed this 8-K on November 7, 2022, to formally announce and detail a change in its reportable segments, effective at the start of its fiscal year 2022. This strategic realignment was driven by the company's expanded international presence, particularly following the June 2021 acquisition of Alliance Healthcare. The new structure consolidates its operations into two primary segments: U.S. Healthcare Solutions and International Healthcare Solutions. This filing is important for investors as it provides recast financial information to reflect this new segment structure. All prior period financial data, as presented in the 2021 Form 10-K and subsequent quarterly filings, has been adjusted retrospectively to align with the 'U.S. Healthcare Solutions' and 'International Healthcare Solutions' reporting. This ensures consistency and comparability for financial analysis, allowing stakeholders to better understand the performance and composition of the company's businesses across different geographies. The filing also includes updated auditor consents related to the Alliance Healthcare acquisition and updated portions of the 2021 Form 10-K.

Key Highlights

1Company renamed Cencora, Inc. (formerly AmerisourceBergen).
2Effective beginning fiscal year 2022, Cencora realigned its reporting structure into two new reportable segments: U.S. Healthcare Solutions and International Healthcare Solutions.
3The segment change was driven by the strategic evaluation of its reporting structure to reflect expanded international presence, notably after the June 2021 acquisition of Alliance Healthcare.
4Prior period financial information has been recast to reflect this new segment reporting structure, ensuring historical comparability.
5The U.S. Healthcare Solutions segment includes legacy Pharmaceutical Distribution Services (excluding Profarma), MWI Animal Health, Xcenda, Lash Group, and ICS 3PL.
6The International Healthcare Solutions segment comprises Alliance Healthcare, World Courier, Innomar, Profarma, and Profarma Specialty (until its divestiture in June 2022).
7The filing includes updated auditor consents related to the Alliance Healthcare acquisition and updated components of the 2021 Form 10-K.

Cencora, Inc. 8-K Report, Corporate Update (Nov 7, 2022)

Summary

Key Highlights

Frequently Asked Questions