McKesson 2009 Annual Report Download - page 70

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McKESSON CORPORATION
See Financial Notes
64
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Years Ended March 31,
2009 2008 2007
Revenues $ 106,632 $ 101,703 $ 92,977
Cost of Sales 101,254 96,694 88,645
Gross Profit 5,378 5,009 4,332
Operating Expenses
Selling 743 744 673
Distribution 943 886 771
Research and development 364 347 284
Administrative 1,639 1,559 1,346
Litigation charge (credits), net 493 (5) (6)
Total Operating Expenses 4,182 3,531 3,068
Operating Income 1,196 1,478 1,264
Other Income, Net 12 121 132
Interest Expense (144) (142) (99)
Income from Continuing Operations Before Income
Taxes 1,064 1,457 1,297
Income Tax Expense (241) (468) (329)
Income from Continuing Operations 823 989 968
Discontinued operations, net - 1 (5)
Discontinued operations – loss on sales, net - - (50)
Net Income $ 823 $ 990 $ 913
Earnings Per Common Share
Diluted
Continuing operations $ 2.95 $ 3.32 $ 3.17
Discontinued operations, net - - (0.02)
Discontinued operations – loss on sales, net - - (0.16)
Total $ 2.95 $ 3.32 $ 2.99
Basic
Continuing operations $ 2.99 $ 3.40 $ 3.25
Discontinued operations, net - - (0.02)
Discontinued operations – loss on sales, net - - (0.17)
Total $ 2.99 $ 3.40 $ 3.06
Weighted Average Shares
Diluted 279 298 305
Basic 275 291 298