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Mckesson Corp (MCK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, March 31, 2015

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

 

LOGO

McKESSON REPORTS FISCAL 2015 FOURTH-QUARTER

AND FULL-YEAR RESULTS

 

    Revenues of $44.9 billion for the fourth quarter and $179.0 billion for the full year, up 30% year-over-year.

 

    Fourth-quarter GAAP earnings per diluted share from continuing operations of $1.69 and full-year GAAP earnings per diluted share from continuing operations of $7.54, up 24% year-over-year.

 

    Fourth-quarter Adjusted Earnings per diluted share of $2.94 and full-year Adjusted Earnings per diluted share of $11.11, up 29% year-over-year.

 

    Fiscal 2015 cash flow from operations of $3.1 billion.

 

    Board of Directors authorized a new $500 million share repurchase program.

 

    Fiscal 2016 Outlook: Adjusted Earnings per diluted share of $12.20 to $12.70.

SAN FRANCISCO, May 12, 2015 –

McKesson Corporation (NYSE:MCK) today reported that revenues for the fourth quarter ended March 31, 2015 were $44.9 billion, up 19% compared to $37.8 billion a year ago. On the basis of U.S. generally accepted accounting principles (“GAAP”), fourth-quarter earnings per diluted share from continuing operations was $1.69 compared to $1.72 a year ago. Fourth-quarter GAAP earnings from continuing operations include a pre and post-tax charge of $150 million, or 64 cents per diluted share, related to a previously disclosed settlement agreement in principle with the U.S. Drug Enforcement Administration (DEA) and the U.S. Department of Justice (DOJ) regarding McKesson’s monitoring and reporting of controlled substances orders.

For the fiscal year, McKesson had revenues of $179.0 billion compared to $137.4 billion a year ago, up 30% year-over-year. Full-year GAAP earnings per diluted share from continuing operations was $7.54 compared to $6.08 a year ago, up 24% year-over-year.

McKesson separately reports financial results on the basis of Adjusted Earnings. Adjusted Earnings is a non-GAAP financial measure defined as GAAP income from continuing operations, excluding amortization of acquisition-related intangible assets, acquisition expenses and related adjustments, certain claim and litigation reserve adjustments reflecting changes to the company’s reserves for controlled substance distribution claims and average wholesale price litigation matters, and Last-In-First-Out (“LIFO”) inventory-related adjustments. A reconciliation of McKesson’s GAAP financial results to Adjusted Earnings is provided in Schedules 2, 3 and 4 of the financial statement tables included with this release.

 

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The following information was filed by Mckesson Corp (MCK) on Tuesday, May 12, 2015 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (parentheticals)
Asset Impairments And Product Alignment Charges
Asset Impairments And Product Alignment Charges (narrative) (details)
Business Combinations
Business Combinations (fair Value Of Assets Acquired And Liabilities Assumed) (details)
Business Combinations (narrative) (details)
Business Combinations (tables)
Capitalized Software Held For Sale
Capitalized Software Held For Sale (changes In The Carrying Amount) (details)
Capitalized Software Held For Sale (narrative) (details)
Capitalized Software Held For Sale (tables)
Debt And Financing Activities
Debt And Financing Activities (accounts Receivable Facilities, Revolving Credit Facilities And Lines Of Credit) (narrative) (details)
Debt And Financing Activities (commericial Paper And Debt Covenants) (narrative) (details)
Debt And Financing Activities (long-term Debt) (narrative) (details)
Debt And Financing Activities (schedule Of Long-term Debt) (details)
Debt And Financing Activities (senior Bridge Term Loan Facility) (narrative) (details)
Debt And Financing Activities (tables)
Discontinued Operations
Discontinued Operations (narrative) (details)
Discontinued Operations Discontinued Operations (schedule Of Results From Discontinued Operations) (details)
Discontinued Operations Discontinued Operations (tables)
Earnings Per Common Share
Earnings Per Common Share (basic And Diluted Earnings Per Common Share) (details)
Earnings Per Common Share (narrative) (details)
Earnings Per Common Share (tables)
Equity Investments
Equity Investments (narrative) (details)
Fair Value Measurements
Fair Value Measurements (fair Value Measurements, Recurring) (details)
Fair Value Measurements (narrative) (details)
Fair Value Measurements (tables)
Financial Guarantees And Warranties
Financial Guarantees And Warranties (narrative) (details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (changes In The Carrying Amount Of Goodwill) (details)
Goodwill And Intangible Assets, Net (information Regarding Intangible Assets) (details)
Goodwill And Intangible Assets, Net (narrative - Goodwill) (details)
Goodwill And Intangible Assets, Net (narrative - Intangible Assets) (details)
Goodwill And Intangible Assets, Net (tables)
Hedging Activities
Hedging Activities (narrative) (details)
Hedging Activities Derivative Fair Value Table (tables)
Hedging Activities Derivative Instruments Fair Value (details)
Income Taxes
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 (income From Continuing Operations Before Income Taxes) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Between Effective Tax Rate On Income From Continuing Operations And Statutory Tax Rate) (details)
Income Taxes (tables)
Lease Obligations
Lease Obligations (narrative) (details)
Lease Obligations (schedule Of Future Minimum Rental Payments For Operating Leases) (details)
Lease Obligations (tables)
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests Noncontrolling Interests (changes In Noncontrolling Interests) (details)
Noncontrolling Interests Noncontrolling Interests (ownership Changes) (narrative) (details)
Noncontrolling Interests Redeemable Noncontrolling Interests (narrative) (details)
Noncontrolling Interests Redeemable Noncontrolling Interests (rollforward) (details)
Noncontrolling Interests Schedule Of Changes In Noncontrolling Interests (tables)
Other Commitments And Contingent Liabilities
Other Commitments And Contingent Liabilities (litigation Reserve And Expense) (details)
Other Commitments And Contingent Liabilities (narrative) (details)
Other Income (expense), Net
Other Income (expense), Net (summary Of Other Income (expense), Net) (details)
Other Income (expense), Net (tables)
Pension Benefits
Pension Benefits (narrative) (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 Reconciliation Of Level 3 Plan Assets Held) (details)
Pension Benefits (schedule Of Sensitivity To Changes In Weighted-average Discount Rate 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)
Pension Benefits (tables)
Postretirement Benefits
Postretirement Benefits (narrative) (details)
Postretirement Benefits (schedule Of Changes In Benefit Obligations For Postretirement Welfare Plans) (details)
Postretirement Benefits (schedule Of Net Periodic Expense (income) For Postretirement Welfare Benefits) (details)
Postretirement Benefits (tables)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (schedule Of Property, Plant And Equipment, Net) (details)
Property, Plant And Equipment, Net (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (narrrative) (details)
Quarterly Financial Information (unaudited) (schedule Of Quarterly Financial Information) (details)
Quarterly Financial Information (unaudited) (tables)
Receivables, Net
Receivables, Net (schedule Of Accounts Receivable) (details)
Receivables, Net (tables)
Related Party Balances And Transactions
Related Party Balances And Transactions (narrative) (details)
Segments Of Business
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 Geographica Ares) (details)
Segments Of Business (tables)
Share-based Compensation
Share-based Compensation (components Of Share-based Compensation Expense) (details)
Share-based Compensation (data Related To Rsu Activity) (details)
Share-based Compensation (data Related To Stock Option Activity) (details)
Share-based Compensation (narrative) (details)
Share-based Compensation (rsu Activity) (details)
Share-based Compensation (schedule Of Assumptions For Stock Options Fair Values) (details)
Share-based Compensation (stock Option Activity) (details)
Share-based Compensation (summary Of Options Outstanding) (details)
Share-based Compensation (tables)
Significant Accounting Policies
Significant Accounting Policies (narrative) (details)
Significant Accounting Policies (policy)
Stockholders' Equity
Stockholders' Equity (changes In Accumulated Other Comprehensive Income By Component) (details)
Stockholders' Equity (narrative) (details)
Stockholders' Equity (other Comprehensive Income (loss), Net Of Tax) (details)
Stockholders' Equity (other Comprehensive Income (loss), Tax (phantom)(details)
Stockholders' Equity (shares Repurchases) (details)
Stockholders' Equity (tables)
Supplementary Consolidated Financial Statement Schedule Valuation And Qualifying Accounts (details)
Supplementary Consolidated Financial Statement Schedule Valuation And Qualifying Accounts (notes)
Variable Interest Entities
Variable Interest Entities Variable Interest Entities (details)
Ticker: MCK
CIK: 927653
Form Type: 10-K Annual Report
Accession Number: 0001628280-15-004098
Submitted to the SEC: Tue May 12 2015 4:56:22 PM EST
Accepted by the SEC: Tue May 12 2015
Period: Tuesday, March 31, 2015
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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