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Mckesson Corp (MCK) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, March 31, 2022

SEC Filings

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

mckessonlogoa03a.jpg

McKESSON REPORTS FISCAL 2022 THIRD-QUARTER RESULTS

Third-Quarter Highlights, Year-over-Year:
Total revenues of $68.6 billion increased 10%.
Loss per diluted share from continuing operations of ($0.04), an increase of $38.99 due to a prior year pre-tax charge of $8.1 billion related to opioid litigation.
Adjusted Earnings per Diluted Share of $6.15 increased 34%.
As part of the ongoing leadership refreshment of our Board of Directors, James H. Hinton and Kathleen Wilson-Thompson joined the company’s Board of Directors on January 13, 2022.
Our Board elected Donald R. Knauss as independent chair effective April 1, 2022, following a planned transition led by current independent chair Edward A. Mueller.

Fiscal 2022 Outlook:
Increased fiscal 2022 Adjusted Earnings per Diluted Share guidance range to $23.55 to $23.95, from the previous range of $22.35 to $22.95, representing 37% to 39% growth compared to prior year.
Fiscal 2022 Adjusted Earnings per Diluted Share guidance includes approximately $2.99 to $3.59 of impacts attributable to the following:
$1.75 to $2.15 related to the U.S. government's COVID-19 vaccine distribution, kitting, and storage programs;
$0.75 to $0.95 related to the COVID-19 tests and impairments for personal protective equipment and related products, increased from the previous range of $0.50 to $0.75;
$0.49 related to year-to-date gains and losses associated with McKesson Ventures’ equity investments.
Excluding the impacts of the above items from both fiscal 2022 guidance and fiscal 2021 results indicate 27% to 33% forecasted growth compared to prior year.

IRVING, Texas, February 2, 2022 - McKesson Corporation (NYSE:MCK) today reported third-quarter results for the period ended December 31, 2021.
Fiscal 2022 Third-Quarter Result Summary
Third-Quarter
Year-to-Date
($ in millions, except per share amounts)FY22FY21ChangeFY22FY21Change
Revenues$68,614 $62,599 10 %$197,864 $179,086 10 %
Income (loss) from Continuing Operations 1
(7)(6,226)(100)749 (5,204)114 
Adjusted Earnings 1,2
944 741 27 2,782 1,978 41 
Earnings (loss) per Diluted Share 1
(0.04)(39.03)(100)4.81 (32.28)115 
Adjusted Earnings per Diluted Share 1,2
6.15 4.60 34 17.86 12.17 47 
1 Reflects continuing operations attributable to McKesson, net of tax
2 Represents a non-GAAP financial measure; refer to the reconciliations of non-GAAP financial measures included in accompanying schedules


The following information was filed by Mckesson Corp (MCK) on Wednesday, February 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Mckesson Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders??? Equity
Consolidated Statements Of Stockholders??? Equity (Parentheticals)
Business Acquisitions And Divestitures
Business Acquisitions And Divestitures (Details)
Business Acquisitions And Divestitures (Tables)
Business Acquisitions And Divestitures - Net Gain On Split-Off Of Change Healthcare Jv (Details)
Commitment And Contingencies (Tables)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Details)
Commitments And Contingent Liabilities - Estimated Accrual Liability (Details)
Debt And Financing Activities
Debt And Financing Activities (Tables)
Debt And Financing Activities - Commercial Paper (Details)
Debt And Financing Activities - Long-Term Debt (Details)
Debt And Financing Activities - Revolving Credit Facilities (Details)
Debt And Financing Activities - Schedule Of Long-Term Debt (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Narrative (Details)
Earnings Per Common Share - Schedule Of Basic And Diluted Earnings Per Common Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments (Details)
Financial Guarantees And Warranties
Financial Guarantees And Warranties (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Goodwill Narrative (Details)
Goodwill And Intangible Assets, Net - Intangible Assets Narrative (Details)
Goodwill And Intangible Assets, Net - Schedule Of Changes In The Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets, Net - Schedule Of Information Regarding Intangible Assets (Details)
Hedging Activities
Hedging Activities (Tables)
Hedging Activities - Narrative (Details)
Hedging Activities - Schedule Of Information Regarding Fair Value Of Derivatives On A Gross Basis (Details)
Held For Sale
Held For Sale (Tables)
Held For Sale - Assets And Liabilities Held For Sale (E.U. Disposal Group) (Details)
Held For Sale - Assets And Liabilities Held For Sale (U.K. Disposal Group) (Details)
Held For Sale - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Tax Balances (Details)
Income Taxes - Components Of Provision For Income Taxes Related To Continuing Operations (Details)
Income Taxes - Gross Unrecognized Tax Benefits (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Between Effective Tax Rate On Income From Continuing Operations And Statutory Tax Rate (Details)
Income Taxes - Schedule Of Income From Continuing Operations Before Income Taxes (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Costs (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Other Income, Net
Other Income, Net (Tables)
Other Income, Net - Narrative (Details)
Other Income, Net - Schedule Of Other Income, Net (Details)
Pension Benefits
Pension Benefits (Tables)
Pension Benefits - Narrative (Details)
Pension Benefits - Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss (Details)
Pension Benefits - Schedule Of Changes In Benefit Obligations And Plan Assets (Details)
Pension Benefits - Schedule Of Investments Measured At Fair Value (Details)
Pension Benefits - Schedule Of Net Periodic Expense For Pension Plans (Details)
Pension Benefits - Schedule Of Other Changes In Accumulated Other Comprehensive Income (Details)
Pension Benefits - Schedule Of Projected Benefit Obligation, Accumulated Benefit Obligation And Fair Value Of Plan Assets For Pension Plans (Details)
Pension Benefits - Schedule Of Weighted-Average Assumptions Used To Estimate Net Periodic Pension Expense And Actuarial Present Value Of Benefit Obligations (Details)
Pension Benefits - Summary Of Pension Plan Assets Using Fair Value Hierarchy By Asset Class (Details)
Redeemable Noncontrolling Interests And Noncontrolling Interests
Redeemable Noncontrolling Interests And Noncontrolling Interests (Tables)
Redeemable Noncontrolling Interests And Noncontrolling Interests - Narrative (Details)
Redeemable Noncontrolling Interests And Noncontrolling Interests - Schedule Of Changes In Noncontrolling Interests And Redeemable Noncontrolling Interest (Details)
Related Party Balances And Transactions
Related Party Balances And Transactions (Details)
Restructuring, Impairment, And Related Charges
Restructuring, Impairment, And Related Charges (Tables)
Restructuring, Impairment, And Related Charges - Narrative (Details)
Restructuring, Impairment, And Related Charges - Summary Of Activity Related To Restructuring Liability (Details)
Restructuring, Impairment, And Related Charges - Summary Of Details For Charges Recorded (Details)
Segments Of Business
Segments Of Business (Tables)
Segments Of Business - Narrative (Details)
Segments Of Business - Schedule Of Segment Information (Details)
Segments Of Business - Segment Assets And Long-Lived Assets By Geographical Areas (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Components Of Share-Based Compensation Expense (Details)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Schedule Of Data Related To Stock Option Activity (Details)
Share-Based Compensation - Schedule Of Rsus And Psus Award Activity (Details)
Share-Based Compensation - Schedule Of Stock Option Activity (Details)
Share-Based Compensation - Schedule Of Weighted-Average Assumptions Used To Estimate Fair Value Of Rsus And Psus (Details)
Share-Based Compensation - Summary Of Data Related To Rsus And Psus Award Activity (Details)
Share-Based Compensation - Summary Of Options Outstanding (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Property, Plant And Equipment, Net (Details)
Significant Accounting Policies - Receivables, Net (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Changes In Accumulated Other Comprehensive Income By Component (Details)
Stockholders' Equity - Schedule Of Share Repurchases (Details)
Supplementary Consolidated Financial Statement Schedule Valuation And Qualifying Accounts
Supplementary Consolidated Financial Statement Schedule Valuation And Qualifying Accounts (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Ticker: MCK
CIK: 927653
Form Type: 10-K Annual Report
Accession Number: 0000927653-22-000051
Submitted to the SEC: Mon May 09 2022 8:15:36 AM EST
Accepted by the SEC: Mon May 09 2022
Period: Thursday, March 31, 2022
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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