CARDINAL HEALTH INC Fair Value Disclosure
| 2025 | |||||||||||||||||||||||
| (in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Cash equivalents | $ | 1,672 | $ | — | $ | — | $ | 1,672 | |||||||||||||||
| Other investments (1) | 108 | — | — | 108 | |||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||
| Forward contracts (2) | — | (48) | — | (48) | |||||||||||||||||||
| Share-based awards (3) | — | — | (843) | (843) | |||||||||||||||||||
| 2024 | |||||||||||||||||||||||
| (in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Cash equivalents | $ | 1,442 | $ | — | $ | — | $ | 1,442 | |||||||||||||||
| Other investments (1) | 108 | — | — | 108 | |||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||
| Forward contracts (2) | — | (87) | — | (87) | |||||||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 12, 2025 | Showing above |
| 2024 | Aug 14, 2024 | |
| 2023 | Aug 15, 2023 | |
| 2022 | Aug 11, 2022 | |
| 2021 | Aug 16, 2021 | |
| 2020 | Aug 13, 2020 | |
| 2019 | Aug 20, 2019 | |
| 2018 | Aug 22, 2018 | |
| 2017 | Aug 10, 2017 | |
| 2016 | Aug 12, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.