Cardinal Health 2011 Annual Report Download - page 81

T
he results of CareFusion included in discontinued o
p
erations for fiscal 2011, 2010 and 2009 ar
e
summar
i
ze
d
as
f
o
ll
o
w
s
:
Fisca
lY
ea
rEn
ded
J
une 30
,
(
in millions
)
2011
(
1
)
2010
(
2
)
2009
R
e
v
enu
e
............................................................ $0.
0
$
592.1 $3,520.9
Earnin
g
s before income taxes
.
.......................................... 0.
3
43.7
5
07.2
I
ncome tax expense ...................................................
(
8.0
)(
28.7
)(
122.
6)
Earnin
g
s/(loss) from discontinued operations
...............................
(7.7) 15.0 384.6
(1) Reflects subsequent chan
g
es in certain estimates made at the time of the Spin-Off
.
(2) Re
fl
ects t
h
e resu
l
ts o
f
CareFus
i
on t
h
roug
h
August 31, 2009, t
h
e
d
ate t
h
eSp
i
n-O
ff
was comp
l
ete
d
,an
d
s
u
b
sequent c
h
anges
i
n certa
i
n est
i
mates ma
d
eatt
h
et
i
me o
f
t
h
eSp
i
n-O
ff.
I
nterest expense was a
ll
ocate
d
to
hi
stor
i
ca
l
per
i
o
d
s cons
id
er
i
ng t
h
e
d
e
b
t
i
ssue
db
y CareFus
i
on
i
n connect
i
o
n
w
i
t
h
t
h
eSp
i
n-O
ff
an
d
our overa
ll d
e
b
t
b
a
l
ance. In a
ddi
t
i
on, a port
i
on o
f
t
h
e corporate costs prev
i
ous
ly
a
ll
ocate
d
to CareFusion have been reclassified to the remainin
g
two se
g
ments
.
Th
e
f
o
ll
ow
i
n
g
ta
bl
e summar
i
zes t
h
e
i
nterest expense a
ll
ocate
d
to
di
scont
i
nue
d
operat
i
ons
f
or CareFus
i
o
n
d
urin
g
fiscal 2011, 2010 and 2009
:
F
iscal Year Ende
d
J
une
30,
(
in millions
)
2
0
1
1
2
0
1
0
2009
I
nterest ex
p
ense allocated to CareFusio
n
.......................................
.
$
0.0
$
12.8
$
75.2
T
here were no assets and liabilities from businesses held for sale for CareFusion at June 30, 2011 or 2010
.
C
ash flows from discontinued operations are presented separately on the consolidated statements of cash flows.
O
t
h
e
r
D
ur
i
ng t
h
e
f
ourt
h
quarter o
ffi
sca
l
2007, we so
ld
our
b
us
i
nesses w
i
t
hi
nt
h
e
f
ormer P
h
armaceut
i
ca
l
T
echnolo
g
ies and Services se
g
ment, other than certain
g
eneric-focused businesses (the “PTS Business”). See
Note 7 of the “Notes to Consolidated Financial Statements” from the Annual Re
p
ort on Form 10-K for the fiscal
year en
d
e
d
June 30, 2009
f
or
i
n
f
ormat
i
on regar
di
ng t
h
esa
l
eo
f
t
h
e PTS Bus
i
ness. We
i
ncurre
d
m
i
nor amounts o
f
a
ctivit
y
related to the PTS Business durin
g
fiscal 2009 as a result of chan
g
es in certain estimates made at the tim
e
o
f the sale, activity under a transition services agreement and other adjustments.
D
urin
g
the fourth quarter of fiscal 2009, we committed to plans to sell the United Kin
g
dom-base
d
Martindale injectable manufacturing business (“Martindale”) within our Pharmaceutical segment, and Martindal
e
met t
h
ecr
i
ter
i
a
f
or c
l
ass
ifi
cat
i
on as
di
scont
i
nue
d
operat
i
ons
i
nt
h
e conso
lid
ate
dfi
nanc
i
a
l
statements. Dur
i
ng t
h
e
f
ourth quarter of fiscal 2010, we completed the sale of Martindale resultin
g
in a pre-tax
g
ain of $36.3 million.
Accordingly, the net assets of Martindale are presented separately as discontinued operations, and the operating
resu
l
ts o
f
Mart
i
n
d
a
l
e are presente
d
w
i
t
hi
n
di
scont
i
nue
d
operat
i
ons
f
or a
ll
per
i
o
d
s presente
d
t
h
roug
h
t
h
e
d
ate o
f
sale
.
D
ur
i
ng t
h
e
f
ourt
h
quarter o
ffi
sca
l
2009, we a
l
so comm
i
tte
d
to p
l
ans to se
ll
Spec
i
a
l
tyScr
i
pts w
i
t
hi
nou
r
Pharmaceutical se
g
ment, and Specialt
y
Scripts met the criteria for classification as held for sale in our
consolidated financial statements. During the third quarter of fiscal 2010, we completed the sale of
Spec
i
a
l
tyScr
i
pts. T
h
e resu
l
ts o
f
Spec
i
a
l
tyScr
i
pts are reporte
d
w
i
t
hi
n earn
i
ngs
f
rom cont
i
nu
i
ng operat
i
ons on ou
r
consolidated statements of earnin
g
s throu
g
h the date of sale because it did not satisf
y
the criteria for
classification as discontinued o
p
erations
.
55