McKesson 2012 Annual Report Download - page 58

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McKESSON CORPORATION
See Financial Notes
54
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Years Ended March 31,
2012 2011 2010
Revenues $ 122,734 $ 112,084 $ 108,702
Cost of Sales 116,167 106,114 103,026
Gross Profit 6,567 5,970 5,676
Operating Expenses
Selling 764 767 746
Distribution 997 920 882
Research and development 440 407 376
Administrative 2,068 1,842 1,684
Litigation charges (credit), net 149 213 (20)
Total Operating Expenses 4,418 4,149 3,668
Operating Income 2,149 1,821 2,008
Other Income, Net 21 36 43
Interest Expense (251) (222) (187)
Income from Continuing Operations Before Income Taxes 1,919 1,635 1,864
Income Tax Expense (516) (505) (601)
Income from Continuing Operations 1,403 1,130 1,263
Discontinued Operation – gain on sale, net of tax — 72 —
Net Income $ 1,403 $ 1,202 $ 1,263
Earnings Per Common Share
Diluted
Continuing operations $ 5.59 $ 4.29 $ 4.62
Discontinued operation – gain on sale — 0.28 —
Total $ 5.59 $ 4.57 $ 4.62
Basic
Continuing operations $ 5.70 $ 4.37 $ 4.70
Discontinued operation – gain on sale — 0.28 —
Total $ 5.70 $ 4.65 $ 4.70
Weighted Average Common Shares
Diluted 251 263 273
Basic 246 258 269