Cardinal Health 2008 Annual Report Download - page 52

Item 6: Selected Financial Data
The consolidated financial data include all business combinations as of the date of acquisition that occurred
during these periods. The following selected consolidated financial data should be read in conjunction with the
Company’s consolidated financial statements and related notes and “Item 7—Management’s Discussion and
Analysis of Financial Condition and Results of Operations.”
CARDINAL HEALTH, INC. AND SUBSIDIARIES
SELECTED CONSOLIDATED FINANCIAL DATA
At or for the Fiscal Year Ended June 30, (1)
2008 2007 2006 (2) 2005 2004
(In millions, except per common share amounts)
Earnings Data:
Revenue ...................................... $91,091.4 $86,852.0 $79,664.2 $72,666.0 $63,043.1
Earnings from continuing operations before cumulative
effect of change in accounting .................. $ 1,315.9 $ 839.7 $ 1,163.3 $ 1,067.1 $ 1,354.8
Earnings/(loss) from discontinued operations (3) ...... (15.3) 1,091.4 (163.2) (16.4) 158.2
Cumulative effect of change in accounting (4) ........ ————(38.5)
Net earnings ................................... $ 1,300.6 $ 1,931.1 $ 1,000.1 $ 1,050.7 $ 1,474.5
Basic earnings/(loss) per Common Share
Continuing operations ....................... $ 3.67 $ 2.13 $ 2.76 $ 2.48 $ 3.12
Discontinued operations (3) .................. (0.04) 2.76 (0.38) (0.04) 0.36
Cumulative effect of change in accounting (4) .... ————(0.09)
Net basic earnings per Common Share .............. $ 3.63 $ 4.89 $ 2.38 $ 2.44 $ 3.39
Diluted earnings/(loss) per Common Share
Continuing operations ....................... $ 3.61 $ 2.07 $ 2.71 $ 2.45 $ 3.08
Discontinued operations (3) .................. (0.04) 2.70 (0.38) (0.04) 0.36
Cumulative effect of change in accounting (4) .... ————(0.09)
Net diluted earnings per Common Share ............ $ 3.57 $ 4.77 $ 2.33 $ 2.41 $ 3.35
Cash dividends declared per Common Share (5) ...... $ 0.500 $ 0.390 $ 0.270 $ 0.150 $ 0.120
Balance Sheet Data:
Total assets ................................... $23,448.2 $23,153.8 $23,433.3 $21,886.6 $21,063.0
Long-term obligations, less current portion and other
short-term borrowings ......................... 3,687.4 3,457.3 2,588.6 2,302.1 2,818.7
Shareholders’ equity (6) ......................... 7,747.5 7,376.9 8,490.7 8,593.0 7,976.3
(1) Amounts reflect business combinations and the impact of special items in all periods presented. See Note 3
of “Notes to Consolidated Financial Statements” for a further discussion of special items affecting fiscal
2008, 2007 and 2006. Fiscal 2005 amounts reflect the impact of special items of $141.5 million
($100.7 million, net of tax). Fiscal 2004 amounts reflect the impact of special items of $38.8 million
($23.9 million, net of tax).
(2) During the first quarter of fiscal 2006, the Company adopted Statement of Financial Accounting Standards
(“SFAS”) No. 123(R), “Share-Based Payment,” applying the modified prospective method. Prior to the
adoption of SFAS No. 123(R), the Company accounted for equity-based awards under the intrinsic value
method, which followed the recognition and measurement principles of Accounting Principles Board
(“APB”) Opinion No. 25, “Accounting for Stock Issued to Employees,” and related Interpretations, and
equity-based compensation was included as pro forma disclosure within the notes to the financial
statements. See Note 18 of “Notes to Consolidated Financial Statements” for additional information.
(3) During the second quarter of fiscal 2007, the Company committed to plans to sell the PTS Business thereby
meeting the criteria for classification of discontinued operations in accordance with SFAS No. 144,
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