Mckesson Corp (MCK) 10-Q Quarterly Report February 2020

Cover Page	9 Months Ended
Cover Page	Dec. 31, 2019 shares
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-13252
Entity Registrant Name	McKESSON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3207296
Entity Address, Address Line One	6555 State Hwy 161
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	972
Local Phone Number	446-4800
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	MCK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	176,930,430
Entity Central Index Key	0000927653
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--03-31

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Inside Mckesson Corp's 10-Q Quarterly Report:

Financial - Earnings Highlight
Operating profit and operating profit margin for 2020 was favorably impacted by higher compensation from branded pharmaceutical manufacturers and higher LIFO credits.

Financial - Earnings Highlight
Additionally, operating profit and operating profit margin in 2019 includes higher net cash proceeds representing our share of antitrust legal settlements and a reversal of the previously accrued estimated liability under the New York State OSA in the third quarter of 2019, partially offset by a $60 million charge in the third quarter of 2019 related to a customer bankruptcy.
Financial - Earnings Highlight
Operating profit for 2020 was favorably impacted by market growth, including growth in our specialty business.
Revenue - Geography Highlight
European Pharmaceutical Solutions: European Pharmaceutical Solutions revenues remained flat for the three months ended December 31, 2019 and decreased 1% for the nine months ended December 31, 2019 compared to the same prior year periods primarily due to unfavorable effects of foreign currency exchange fluctuations of 3% and 4%, partially offset by market growth in our distribution businesses.
Financial - Expense Highlight
However, other risks, expenses and future developments, such as additional government actions and material changes in key market assumptions that we were unable to anticipate as of the 2019 testing date may require us to revise the projected cash flows, which could adversely affect the fair value of our McKesson Canada reporting unit in Other in future periods.
Financial - Earnings
Operating loss and operating loss...Read more
Financial - Earnings
Restructuring Initiatives During 2019, we...Read more
Financial - Earnings
Gross profit increased for the...Read more
Financial - Shares
Upon the effectiveness of the...Read more
Financial - Earnings
Gross profit for the nine...Read more
Financial - Shares
The Company's Board has authorized...Read more
M & A - Other
Our 2019 first quarter acquisition...Read more
Other - Other
In addition, certain states have...Read more
Legal - Other
We are subject to legal...Read more
Other - Other
During the nine months ended...Read more
Other - Other
Changes to any of the...Read more
Revenue - Product
U.S. Pharmaceutical and Specialty Solutions:...Read more
Financial - Cash Flow
Although we are not able...Read more
Financial - Earnings
LIFO inventory credits were $66...Read more
Financial - Shares
On July 1, 2019, upon...Read more
Other - Other
The reader should not consider...Read more
Other - Other
Changes in the Canadian healthcare...Read more
Revenue - Product
During the three and nine...Read more
Other - Other
This change was not material...Read more
Revenue - Product
bp - basis points NM...Read more
Financial - Expense
However, there can be no...Read more
Revenue - Product
The State of New York...Read more
Other - Other
The redemption value is the...Read more
Financial - Expense
Transaction-related expenses and adjustments were...Read more
Other - Other
Tax legislation initiatives or challenges...Read more
Other - Other
We could experience losses or...Read more
Other - Other
Financing activities for the nine...Read more
Financial - Expense
Interest Expense: Interest expense decreased...Read more
Other - Other
We could face significant liability...Read more
Other - Other
Our future results could be...Read more
Financial - Cash Flow
We believe that our operating...Read more
Other - Other
Changes in accounting standards issued...Read more
Revenue - Product
Medical-Surgical Solutions: Medical-Surgical Solutions revenues...Read more
Revenue - Product
Other: Revenues in Other for...Read more
Other - Other
Financing activities for the nine...Read more
Financial - Expense
In addition to the aforementioned...Read more
Revenue - Geography
Changes in the foreign regulatory...Read more
Other - Other
New accounting pronouncements that we...Read more
Financial - Debt
Our debt to capital ratio...Read more
Financial - Debt
In addition, from time to...Read more
Financial - Income
During the nine months ended...Read more
Other - Other
Additionally, we committed to certain...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Mckesson Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Certification Of Chief Executive Officer Pursuant To Section 302

Exhibit 31.2: Certification Of Chief Financial Officer Pursuant To Section 302

Exhibit 32: Certification Pursuant To 18 U.S.C.Section 1350

Ticker: MCK
CIK: 927653
Form Type: 10-Q Quarterly Report
Accession Number: 0000927653-20-000016
Submitted to the SEC: Tue Feb 04 2020 4:08:50 PM EST
Accepted by the SEC: Tue Feb 04 2020
Period: Tuesday, December 31, 2019
Industry: Wholesale Drugs Proprietaries And Druggists Sundries