Summary by Futu AI
Walgreens Boots Alliance (WBA) reported financial figures for the first quarter ending November 30, 2023, showing an increase in trade receivables to $4.7 billion from $4.3 billion in the previous quarter. Other accounts receivable also rose to $1.3 billion from $1.1 billion. The company's depreciation expense increased to $376 million, up from $336 million in the same quarter the previous year, while intangible assets amortization jumped to $240 million from $159 million, leading to a total depreciation and amortization expense of $616 million compared to $495 million in the prior year. Cash and cash equivalents saw a slight increase to $784 million from $739 million, although total cash, cash equivalents, and restricted cash decreased marginally to $846 million from $856 million. WBA is also evaluating the impact of new FASB accounting guidance on income tax disclosures, which is set to take effect in fiscal 2026. This guidance aims to improve the transparency of income tax disclosures and will be applied on a prospective basis, with retrospective adoption permitted.