Cardinal Health 2012 Annual Report Download - page 2

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Fiscal 2012 was a year of considerable accomplishments.
We achieved virtually all of our nancial goals, including
those for revenues, operating prot, earnings per share (EPS),
margin rate growth and capital eciency. We made
excellent progress on our strategic priorities and continued
to strengthen our organization by focusing on talent
development and adding world-class leadership in key roles.
Specically, full-year scal 2012 revenues were up 5 percent to $107.6 billion, with
non-GAAP operating earnings up 13 percent to $1.9 billion.1 Non-GAAP diluted
earnings per share from continuing operations were $3.21, a 15 percent increase.
In addition, our organization did another excellent job managing working capital,
generating $1.2 billion in cash from operations for the full year. We returned
$750 million of cash to shareholders in 2012, through both our dierentiated dividend
payout and share repurchases. We took advantage of opportunities to make a few
small acquisitions to expand our market penetration, product oerings and market
coverage, deploying $174 million for acquisitions. Our balance sheet remains
an important asset, as we ended the year with $2.3 billion in cash.
It was also a year which brought its challenges, some foreseen,
like commodity costs, and some others unexpected, particularly our
issues with the Drug Enforcement Administration around controlled
drug policy. But through this, we continue to grow, learn and adjust —
a necessary ingredient for any thriving organization with bold long-
term aspirations.
Dear Shareholders
of Cardinal Health:
1See page 12 for a reconciliation of the dierences
between the non-GAAP nancial measures and the
most directly comparable GAAP nancial measures.