2012 Q2 Form 10-Q Financial Statement

#000119312512316890 Filed on July 26, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q2
Revenue $30.70B $31.70B $29.98B
YoY Change 2.4% 9.86% 9.22%
Cost Of Revenue $29.14B $29.85B $28.47B
YoY Change 2.34% 10.14% 9.26%
Gross Profit $1.561B $1.845B $1.509B
YoY Change 3.45% 5.37% 8.41%
Gross Profit Margin 5.08% 5.82% 5.03%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $125.0M $85.00M $135.0M
YoY Change -7.41% -40.97% 12.5%
% of Gross Profit 8.01% 4.61% 8.95%
Operating Expenses $985.0M $1.130B $1.037B
YoY Change -5.01% 0.18% 12.96%
Operating Profit $576.0M $715.0M $472.0M
YoY Change 22.03% 14.77% -0.42%
Interest Expense -$56.00M -$59.00M -$64.00M
YoY Change -12.5% -28.05% 48.84%
% of Operating Profit -9.72% -8.25% -13.56%
Other Income/Expense, Net $8.000M $9.000M $8.000M
YoY Change 0.0% -47.06% -11.11%
Pretax Income $528.0M $657.0M $416.0M
YoY Change 26.92% 17.74% -5.45%
Income Tax $149.0M $136.0M $130.0M
% Of Pretax Income 28.22% 20.7% 31.25%
Net Earnings $380.0M $521.0M $286.0M
YoY Change 32.87% 23.46% -4.03%
Net Earnings / Revenue 1.24% 1.64% 0.95%
Basic Earnings Per Share $1.61 $2.14 $1.15
Diluted Earnings Per Share $1.58 $2.09 $1.13
COMMON SHARES
Basic Shares Outstanding 236.0M shares 249.0M shares
Diluted Shares Outstanding 240.0M shares 254.0M shares

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.013B $3.149B $3.116B
YoY Change -35.4% -12.82% -4.56%
Cash & Equivalents $2.013B $3.149B $3.116B
Short-Term Investments
Other Short-Term Assets $418.0M $404.0M $356.0M
YoY Change 17.42% 21.32% 34.34%
Inventory $10.06B $10.07B $9.530B
Prepaid Expenses
Receivables $9.564B $9.977B $9.372B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.05B $23.60B $22.37B
YoY Change -1.43% 5.57% 7.61%
LONG-TERM ASSETS
Property, Plant & Equipment $1.221B $1.043B $988.0M
YoY Change 23.58% 5.25% 14.35%
Goodwill $5.025B $5.032B
YoY Change 15.31%
Intangibles $1.678B $1.750B
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.770B $1.665B $1.649B
YoY Change 7.34% 6.32% 12.02%
Total Long-Term Assets $9.694B $9.490B $8.643B
YoY Change 12.16% 11.27% 30.8%
TOTAL ASSETS
Total Short-Term Assets $22.05B $23.60B $22.37B
Total Long-Term Assets $9.694B $9.490B $8.643B
Total Assets $31.75B $33.09B $31.02B
YoY Change 2.36% 7.15% 13.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.15B $16.11B $14.55B
YoY Change 4.15% 14.36% 9.41%
Accrued Expenses $1.587B $2.149B $1.820B
YoY Change -12.8% 15.48% -25.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $400.0M $0.00
YoY Change
Long-Term Debt Due $508.0M $508.0M $414.0M
YoY Change 22.71% 21.82%
Total Short-Term Liabilities $20.10B $21.69B $19.14B
YoY Change 4.99% 15.81% 13.33%
LONG-TERM LIABILITIES
Long-Term Debt $3.072B $3.072B $3.575B
YoY Change -14.07% -14.36% 56.94%
Other Long-Term Liabilities $1.376B $1.504B $1.383B
YoY Change -0.51% 11.16% 2.29%
Total Long-Term Liabilities $1.376B $1.504B $4.958B
YoY Change -72.25% -69.55% 36.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.10B $21.69B $19.14B
Total Long-Term Liabilities $1.376B $1.504B $4.958B
Total Liabilities $21.47B $23.19B $24.10B
YoY Change -10.9% -2.01% 17.45%
SHAREHOLDERS EQUITY
Retained Earnings $9.783B $9.451B
YoY Change
Common Stock $4.000M $4.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.375B $8.204B
YoY Change
Treasury Stock Shares 139.0M shares 138.0M shares
Shareholders Equity $7.203B $6.831B $6.917B
YoY Change
Total Liabilities & Shareholders Equity $31.75B $33.09B $31.02B
YoY Change 2.36% 7.15% 13.2%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q2
OPERATING ACTIVITIES
Net Income $380.0M $521.0M $286.0M
YoY Change 32.87% 23.46% -4.03%
Depreciation, Depletion And Amortization $125.0M $85.00M $135.0M
YoY Change -7.41% -40.97% 12.5%
Cash From Operating Activities -$552.0M $1.234B $326.0M
YoY Change -269.33% 23.4% -38.26%
INVESTING ACTIVITIES
Capital Expenditures $45.00M -$91.00M $58.00M
YoY Change -22.41% -24.17% -166.67%
Acquisitions $108.0M $106.0M
YoY Change 1.89%
Other Investing Activities -$36.00M -$981.0M -$61.00M
YoY Change -40.98% 2481.58% -862.5%
Cash From Investing Activities -$150.0M -$1.072B -$154.0M
YoY Change -2.6% 578.48% 94.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.00M $621.0M
YoY Change -98.39%
Debt Paid & Issued, Net $0.00 $16.00M
YoY Change -100.0%
Cash From Financing Activities -$425.0M -1.208B -$668.0M
YoY Change -36.38% 171.46% -26.02%
NET CHANGE
Cash From Operating Activities -$552.0M 1.234B $326.0M
Cash From Investing Activities -$150.0M -1.072B -$154.0M
Cash From Financing Activities -$425.0M -1.208B -$668.0M
Net Change In Cash -$1.127B -1.046B -$496.0M
YoY Change 127.22% -363.48% 9.25%
FREE CASH FLOW
Cash From Operating Activities -$552.0M $1.234B $326.0M
Capital Expenditures $45.00M -$91.00M $58.00M
Free Cash Flow -$597.0M $1.325B $268.0M
YoY Change -322.76% 18.3% -56.42%

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38000000 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1043000000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1221000000 USD
CY2012Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
9564000000 USD
CY2012Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
9977000000 USD
CY2011Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
16000000 USD
CY2012Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2011Q2 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2012Q2 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
400000000 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9451000000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9783000000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
30798000000 USD
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
29980000000 USD
CY2011Q2 us-gaap Share Based Compensation
ShareBasedCompensation
39000000 USD
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
42000000 USD
CY2012Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
149000000 USD
CY2012Q2 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
700000000 USD
CY2012Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
1000000000 USD
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7203000000 USD
CY2012Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6831000000 USD
CY2012Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
139000000 shares
CY2012Q1 us-gaap Treasury Stock Value
TreasuryStockValue
8204000000 USD
CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
8375000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
519000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
82000000 USD
CY2012Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
138000000 shares
CY2012Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
120000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
393000000 USD
CY2012Q2 mck Deferred Income Tax Expense Benefit On Litigation Charges
DeferredIncomeTaxExpenseBenefitOnLitigationCharges
100000000 USD
CY2011Q2 mck Deferred Income Tax Expense Benefit On Litigation Charges
DeferredIncomeTaxExpenseBenefitOnLitigationCharges
2000000 USD
CY2012Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To prepare the financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of these financial statements and income and expenses during the reporting period. Actual amounts may differ from these estimated amounts. In our opinion, the accompanying unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods presented. </font></div></div>
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
240000000 shares
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
254000000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
249000000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000 shares
CY2012Q2 mck Operating Expenses Excluding Certain Other Charges
OperatingExpensesExcludingCertainOtherCharges
1086000000 USD
CY2011Q2 mck Operating Expenses Excluding Certain Other Charges
OperatingExpensesExcludingCertainOtherCharges
1037000000 USD
CY2012Q2 mck Other Comprehensive Income Tax
OtherComprehensiveIncomeTax
3000000 USD
CY2011Q2 mck Other Comprehensive Income Tax
OtherComprehensiveIncomeTax
3000000 USD
CY2011Q2 mck Payments For Computer Software
PaymentsForComputerSoftware
51000000 USD
CY2012Q2 mck Payments For Computer Software
PaymentsForComputerSoftware
38000000 USD
CY2012Q2 dei Amendment Flag
AmendmentFlag
false
CY2012Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2012Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2012Q2 dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
CY2012Q2 dei Document Type
DocumentType
10-Q
CY2012Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000927653
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
236008795 shares
CY2012Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q2 dei Entity Registrant Name
EntityRegistrantName
MCKESSON CORP

Files In Submission

Name View Source Status
0001193125-12-316890-index-headers.html Edgar Link pending
0001193125-12-316890-index.html Edgar Link pending
0001193125-12-316890.txt Edgar Link pending
0001193125-12-316890-xbrl.zip Edgar Link pending
d371102d10q.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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mck-20120630.xml Edgar Link completed
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mck-20120630_cal.xml Edgar Link unprocessable
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mck-20120630_lab.xml Edgar Link unprocessable
mck-20120630_pre.xml Edgar Link unprocessable
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