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Mckesson Corp (MCK) SEC Filing 10-K Annual Report for the fiscal year ending Wednesday, March 31, 2021

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

mckessonlogoa031a.jpg


McKESSON REPORTS FISCAL 2021 FOURTH-QUARTER AND FULL-YEAR RESULTS

Fourth-Quarter and Full-Year Highlights:
Fourth-quarter total revenues of $59.1 billion increased 1%
Full-year total revenues of $238.2 billion increased 3%
Fourth-quarter earnings per diluted share from continuing operations of $4.15 decreased $1.67
Full-year loss per diluted share from continuing operations of ($28.26) decreased $33.25
Fourth-quarter Adjusted Earnings per diluted share of $5.05 increased 18%
Full-year Adjusted Earnings per diluted share of $17.21 increased 15%
Full-year Free Cash Flow of $3.9 billion

Fiscal 2022 Outlook:
Adjusted Earnings per diluted share guidance range of $18.85 to $19.45, representing 9.5% to 13% growth
Guidance assumes $0.50 to $0.70 of Adjusted Earnings per diluted share related to the U.S. government’s COVID-19 vaccine distribution and kitting programs

IRVING, Texas, May 6, 2021 -
McKesson Corporation (NYSE:MCK) today reported results for the fourth quarter and fiscal year ended March 31, 2021.

Fiscal 2021 Fourth-Quarter and Year-to-Date Result Summary
Fourth-QuarterYear-to-Date
($ in millions, except per share amounts)FY21FY20ChangeFY21FY20Change
Revenues$59,142 $58,535 %$238,228 $231,051 %
Income (loss) from Continuing Operations1
666 1,015 (34)(4,538)906 (601)
Adjusted Earnings1,2
810 745 2,788 2,716 
Earnings (loss) per Diluted Share1
4.15 5.82 (29)(28.26)4.99 (666)
Adjusted Earnings per Diluted Share1,2
5.05 4.27 18 17.21 14.95 15 
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

“Our notable performance in fiscal 2021 reflects the continued momentum in our businesses and is a testament to the leadership role McKesson plays in the healthcare supply chain. McKesson’s differentiated capabilities make us the partner of choice for our customers and government entities in their COVID-19 response efforts. I am proud of our employees and what we have accomplished together,” said Brian Tyler, chief executive officer. “Despite the dynamic macro environment, the business demonstrated strong execution as we grew Adjusted Earnings per diluted share by 15%. These results allowed us to generate $3.9 billion of Free Cash Flow.”
1

The following information was filed by Mckesson Corp (MCK) on Thursday, May 6, 2021 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

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 (Tables)
Business Acquisitions And Divestitures - Acquisition Of Covermymeds (Details)
Business Acquisitions And Divestitures - Acquisition Of Medical Specialties Distributors (Details)
Business Acquisitions And Divestitures - Fair Values Recognized Of Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (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 Impairment Inputs (Details)
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 (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)
Investment In Change Healthcare Joint Venture
Investment In Change Healthcare Joint Venture (Details)
Investment In Change Healthcare Joint Venture (Tables)
Investment In Change Healthcare Joint Venture - Net Gain On Split-Off Of Change Healthcare Jv (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 (Details)
Other Income, Net (Tables)
Pension Benefits
Pension Benefits (Tables)
Pension Benefits - Narrative (Details)
Pension Benefits - Other Postretirement Benefits Plan (Details)
Pension Benefits - Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (Details)
Pension Benefits - Schedule Of Changes In Benefit Obligations And Plan Assets (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)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Tables)
Quarterly Financial Information (Unaudited) - Schedule Of Quarterly Financial Information (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 Property, Plant And Equipment, Net By Geographical Area (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 Assumptions For Stock Options Fair Values (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 Other Comprehensive Income (Loss), Net Of Tax (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: 0000927653-21-000039
Submitted to the SEC: Wed May 12 2021 4:09:57 PM EST
Accepted by the SEC: Wed May 12 2021
Period: Wednesday, March 31, 2021
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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