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Walgreens Boots Alliance, Inc.
Annual Report on Form 10-K
Table of Contents
Part I Page
Item 1. Business 1
Item 1A. Risk Factors 9
Item 1B. Unresolved Staff Comments 29
Item 2. Properties 30
Item 3. Legal Proceedings 30
Item 4. Mine Safety Disclosures 31
Executive Officers of the Registrant 31
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities 34
Item 6. Selected Financial Data 35
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 36
Item 7A. Qualitative and Quantitative Disclosures about Market Risk 59
Item 8. Financial Statements and Supplementary Data 61
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 123
Item 9A. Controls and Procedures 123
Item 9B. Other Information 124
Part III
Item 10. Directors, Executive Officers and Corporate Governance 125
Item 11. Executive Compensation 125
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
Matters 125
Item 13. Certain Relationships and Related Transactions and Director Independence 125
Item 14. Principal Accounting Fees and Services 125
Part IV
Item 15. Exhibits and Financial Statement Schedules 126
Signatures 140
On December 31, 2014, Walgreens Boots Alliance, Inc. became the successor of Walgreen Co. (“Walgreens”)
pursuant to a merger to effect a reorganization of Walgreens into a holding company structure (the
“Reorganization”), with Walgreens Boots Alliance, Inc. becoming the parent holding company.
References in this Annual Report on Form 10-K (this “Form 10-K”) to the “Company,” “we,” “us” or “our” refer
to Walgreens Boots Alliance, Inc. and its subsidiaries from and after the effective time of the Reorganization on
December 31, 2014 and, prior to that time, to the predecessor registrant Walgreens and its subsidiaries, and in
each case do not include unconsolidated partially-owned entities, except as otherwise indicated or the context
otherwise requires. Our fiscal year ends on August 31, and references herein to “fiscal 2015” refer to our fiscal
year ended August 31, 2015.
This Form 10-K includes forward-looking statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. See “Cautionary Note Regarding Forward-Looking Statements” in
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7
below.
All trademarks, trade names and service marks used herein are the property of their respective owners.