McKesson 2008 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2008 McKesson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 119

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119

McKESSON CORPORATION
26
FIVE-YEAR HIGHLIGHTS
As of and for the Years Ended March 31,
(In millions, except per share amounts and ratios) 2008 2007 2006 2005 2004
Operating Results
Revenues $ 101,703 $ 92,977 $ 86,983 $ 79,096 $ 67,993
Percent change 9.4% 6.9% 10.0% 16.3% 22.0%
Gross profit 5,009 4,332 3,777 3,342 3,107
Income (loss) from continuing operations before
income taxes 1,457 1,297 1,171 (266) 869
Income (loss) after income taxes
Continuing operations 989 968 745 (173) 621
Discontinued operations 1 (55) 6 16 26
Net income (loss) 990 913 751 (157) 647
Financial Position
Working capital 2,438 2,730 3,527 3,658 3,706
Days sales outstanding for: (1)
Customer receivables 22 21 22 23 25
Inventories 33 32 29 34 36
Drafts and accounts payable 44 43 41 40 40
Total assets 24,603 23,943 20,961 18,775 16,240
Total debt, including capital lease obligations 1,797 1,958 991 1,211 1,485
Stockholders’ equity 6,121 6,273 5,907 5,275 5,165
Property acquisitions 195 126 166 135 110
Acquisitions of businesses, net 610 1,938 589 76 49
Common Share Information
Common shares outstanding at year-end 277 295 304 299 290
Shares on which earnings (loss) per common
share were based
Diluted 298 305 316 294 299
Basic 291 298 306 294 290
Diluted earnings (loss) per common share (2)
Continuing operations $ 3.32 $ 3.17 $ 2.36 $ (0.59) $ 2.10
Discontinued operations - (0.18) 0.02 0.06 0.09
Total 3.32 2.99 2.38 (0.53) 2.19
Cash dividends declared 70 72 74 71 70
Cash dividends declared per common share 0.24 0.24 0.24 0.24 0.24
Book value per common share (3) 22.10 21.26 19.43 17.64 17.81
Market value per common share – year end 52.37 58.54 52.13 37.75 30.09
Supplemental Data
Capital employed (4) 7,918 8,231 6,898 6,486 6,650
Debt to capital ratio (5) 22.7% 23.8% 14.4% 18.7% 22.3%
Net debt to net capital employed (6) 6.6% 0.1% (24.1)% (12.6)% 13.1%
Average stockholders’ equity (7) 6,344 6,022 5,736 5,264 4,835
Return on stockholders’ equity (8) 15.6% 15.2% 13.1% (3.0)% 13.4%
Footnotes to Five-Year Highlights:
(1) Based on year-end balances and sales or cost of sales for the last 90 days of the year.
(2) Certain computations may reflect rounding adjustments.
(3) Represents stockholders’ equity divided by year-end common shares outstanding.
(4) Consists of total debt and stockholders’ equity.
(5) Ratio is computed as total debt divided by capital employed.
(6) Ratio is computed as total debt, net of cash and cash equivalents (“net debt”), divided by net debt and stockholders’ equity
(“net capital employed”).
(7) Represents a five-quarter average of stockholders’ equity.
(8) Ratio is computed as net income (loss), divided by a five-quarter average of stockholders’ equity.