Walgreens Boots Alliance, Inc. is an American holding company headquartered in Deerfield, Illinois that owns Walgreens, Boots, and a number of pharmaceutical manufacturing, wholesale and distribution companies. The company was formed on December 31, 2014 after Walgreens purchased the 55% stake in UK & Switzerland-based Alliance Boots that it did not already own. Walgreens had previously purchased 45% of the company in 2012 with an option to purchase the remaining shares within three years. Under the terms of the merger, the new company was organized into three divisions: Retail Pharmacy USA (Walgreens), Retail Pharmacy International (Boots), and Pharmaceutical Wholesale, incorporating Alliance Healthcare. The new holding company began trading on the NASDAQ on December 31, 2014. The combined business has operations in over 25 countries. Walgreens had formerly operated solely within the United States and its territories, while Alliance Boots operated a more international business. In October 2016, Walgreens Boots Alliance published its fourth quarter earnings report. Fiscal year 2016 totaled sales were $117.35 billion, up 13.4% from $103.44 in fiscal 2015, and GAAP net earnings decreased to $4.17 billion.