McKesson 2009 Annual Report Download - page 126
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Appendix A
Supplemental Information
GAAP to Non-GAAP Reconciliation
A reconciliation between our net income per share reported under accounting standards generally accepted in the
United States (“GAAP”) and our earnings per diluted share, excluding adjustments for the litigation charge (credit)
is as follows:
Years Ended March 31,
(In millions, except per share amounts) 2009 2008 2007 2006 2005
Net income (loss), as reported $ 823 $ 990 $ 913 $ 751 $ (157)
Exclude:
Litigation charge (credit), net 493 (5) (6) 45 1,200
Estimated income tax expense (benefit),
net (182) 2 2 (15) (390)
Income tax reserve reversal - - (83) - -
Litigation charge (credit), net of tax 311 (3) (87) 30 810
Net income, excluding litigation charge
(credit) $ 1,134 $ 987 $ 826 $ 781 $ 653
Diluted earnings per common share,
excluding litigation charge (credit) (1) $ 4.07 $ 3.31 $ 2.71 $ 2.48 $ 2.19
Shares on which diluted earnings per
common share, excluding the litigation
charge (credit), were based 279 298 305 316 301
(1) For FY 2006 and FY 2005, interest expense, net of related income taxes, of $1,000,000 and $6,000,000, has
been added to net income, excluding the litigation charges, for purpose of calculating diluted earnings per share.
This calculation also includes the impact of dilutive securities (stock options, convertible junior subordinated
debentures and restricted stock).
These pro forma amounts are non-GAAP financial measures. We use these measures internally when assessing
the performance of the organization, our operating segments and our senior management team, and consider these
results to be useful to investors as they provide relevant benchmarks of core operating performance.