COR · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

Cencora, Inc. · 2026-08-05 · Importance 38 · Surprise 24 · No source text

Cencora had $1.6 billion of variable-rate debt outstanding as of June 30, 2026, exposing interest expense to fluctuations in short-term rates. The company held $2.8 billion in cash and cash equivalents on the same date, providing liquidity that exceeded its variable-rate debt balance. Cencora had no interest-rate management instruments in effect as of June 30, 2026. For every $100 million of cash invested in excess of variable-rate debt, a 10-basis-point decrease in interest rates would increase annual net interest expense by $0.1 million.

Key facts

• We had a $5.5 billion Multi-Currency Revolving Credit Facility scheduled to expire in June 2030 which in July 2026 was amended and restated to extend expiration to July 2031 and increase commitments to $7.0 billion. source
• We had a $1.5 billion Receivables Securitization Facility which in July 2026 was amended to reduce the size to $1.0 billion and increase the accordion feature from $500 million to $1.0 billion; no borrowings were outstanding under the facility as of June 30, 2026 and September 30, 2025. source
• We had $83.8 billion and $86.1 billion of cumulative intra-period borrowings that were repaid under our credit facilities during the nine months ended June 30, 2026 and 2025, respectively. source
• Operating lease minimum payments were $432,526 thousand within 1 year, $781,202 thousand in 1-3 years, $591,024 thousand in 4-5 years, and $935,055 thousand after 5 years; total operating leases $2,739,807 thousand. source
• The largest amount of intra-period borrowings outstanding at any one time under our revolving and securitization credit facilities during the nine months ended June 30, 2026 and 2025 was $6.8 billion and $5.1 billion, respectively. source
• We have a Working Capital Credit Facility up to $500 million, which had no borrowings outstanding as of June 30, 2026 and September 30, 2025, and its expiration was extended in May 2026 to May 2027. source
• We have a $4.5 billion commercial paper program that is fully backed by the Multi-Currency Revolving Credit Facility and had no borrowings outstanding as of June 30, 2026 and September 30, 2025. source
• Other commitments minimum payments were $234,350 thousand within 1 year, $475,713 thousand in 1-3 years, $368,082 thousand in 4-5 years, and $301,763 thousand after 5 years; total other commitments $1,379,908 thousand. source

Impact estimates