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August 2022
July 2022
May 2022
April 2022
April 2022
February 2022
February 2022
February 2022
January 2022
November 2021
• | Total revenues of $58.5 billion, reflecting 12% growth. |
• | Earnings per diluted share increased by $9.99 to $5.82. |
• | Adjusted Earnings per diluted share of $4.27, an increase of 16%. |
• | Total revenues of $231.1 billion, reflecting 8% growth. |
• | Earnings per diluted share increased by $4.82 to $4.99. |
• | Adjusted Earnings per diluted share of $14.95, an increase of 10%. |
• | Cash flow from operations of $4.4 billion and free cash flow of $3.9 billion. |
• | Returned $2.2 billion of cash to shareholders through share repurchases and dividends. |
• | Adjusted Earnings per diluted share guidance range of $13.95 to $14.75. |
• | Fiscal 2021 guidance reflects impacts from the COVID-19 pandemic and investments. |
• | McKesson expects Adjusted Earnings per diluted share growth in the second half of fiscal 2021. |
• | Long-term fundamentals remain solid; continuing to execute strategic growth initiatives. |
Fourth-Quarter | Year-to-Date | |||||||||||||||||||||
($ in millions, except per share amounts) | FY20 | FY19 | Change | FY20 | FY19 | Change | ||||||||||||||||
Revenues | $ | 58,535 | $ | 52,429 | 12 | % | $ | 231,051 | $ | 214,319 | 8 | % | ||||||||||
Income (loss) from continuing operations1 | 1,015 | (796 | ) | 228 | 906 | 33 | NM | |||||||||||||||
Adjusted Earnings1,2 | 745 | 707 | 5 | 2,716 | 2,674 | 2 | ||||||||||||||||
Earnings (loss) per diluted share1 | 5.82 | (4.17 | ) | 240 | 4.99 | 0.17 | NM | |||||||||||||||
Adjusted Earnings per diluted share1,2 | 4.27 | 3.69 | 16 | 14.95 | 13.57 | 10 | ||||||||||||||||
1Reflects continuing operations attributable to McKesson, net of tax 2Represents a non-GAAP financial measure; refer to the reconciliations of non-GAAP financial measures included in accompanying schedules |
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Operating profit and operating profit margin for 2019 benefited from the net cash proceeds of $202 million representing our share of antitrust legal settlements and higher LIFO credits of $210 million in 2019 compared to $99 million in 2018, partially offset by a $61 million charge related to a customer bankruptcy.
We consider an accounting estimate to be critical if the estimate requires us to make assumptions about matters that were uncertain at the time the accounting estimate was made and if different estimates that we reasonably could have used in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, could have a material impact on our financial condition or results from operations.
Any material changes in key assumptions, including failure to meet business plans, negative changes in government reimbursement rates, deterioration in the U.S. and global financial markets, an increase in interest rates or an increase in the cost of equity financing by market participants within the industry or other unanticipated events and circumstances, may decrease the projected cash flows or increase the discount rates and could potentially result in an impairment charge.
The increase in gross profit and gross profit margin for 2019 was also due to the receipt of net cash proceeds representing our share of antitrust legal settlements of $202 million, higher LIFO credits and our business acquisitions.
Operating profit and operating profit margin were unfavorably impacted by customer mix and lower net cash proceeds received of $22 million in 2020 compared to $202 million in 2019 representing our share of antitrust legal settlements.
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Mckesson Corp provided additional information to their SEC Filing as exhibits
Ticker: MCK
CIK: 927653
Form Type: 10-K Annual Report
Accession Number: 0000927653-20-000033
Submitted to the SEC: Fri May 22 2020 8:38:58 AM EST
Accepted by the SEC: Fri May 22 2020
Period: Tuesday, March 31, 2020
Industry: Wholesale Drugs Proprietaries And Druggists Sundries