Cardinal Health 2013 Annual Report Download - page 52

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Cardinal Health, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
50
The following table provides additional data related to performance share
unit activity:
(in millions) 2013 2012
Total compensation cost, net of estimated forfeitures, related to
nonvested performance share units not yet recognized, pre-tax $ 12 $ 12
Weighted-average period over which performance share unit cost is
expected to be recognized (in years) 22
Employee Retirement Savings Plans
Substantially all of our domestic non-union employees are eligible to be
enrolled in our company-sponsored contributory retirement savings plans,
which include features under Section 401(k) of the Internal Revenue Code
of 1986, as amended, and provide for matching and profit sharing
contributions by us. Our contributions to the plans are determined by the
Board of Directors subject to certain minimum requirements as specified
in the plans. The total expense for our employee retirement savings plans
was $68 million, $53 million and $70 million for fiscal 2013, 2012 and 2011,
respectively.
16. Selected Quarterly Financial Data (Unaudited)
The following is selected quarterly financial data for fiscal 2013 and 2012.
The sum of the quarters may not equal year-to-date due to rounding.
(in millions, except per common
share amounts) First
Quarter Second
Quarter Third
Quarter Fourth
Quarter (1)
Fiscal 2013
Revenue $ 25,889 $ 25,232 $ 24,552 $ 25,420
Gross margin 1,159 1,224 1,291 1,247
Distribution, selling, general and
administrative expenses 690 699 712 775
Earnings/(loss) from continuing
operations 272 303 346 (586)
Loss from discontinued operations,
net of tax (1) — (1) —
Net earnings/(loss) 271 303 345 (586)
Earnings/(loss) from continuing
operations per common share:
Basic $ 0.80 $ 0.89 $ 1.01 $ (1.72)
Diluted (2) 0.79 0.88 1.00 (1.72)
(in millions, except per common
share amounts) First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Fiscal 2012
Revenue $ 26,792 $ 27,078 $ 26,918 $ 26,764
Gross margin 1,084 1,114 1,207 1,136
Distribution, selling, general and
administrative expenses 644 640 683 712
Earnings from continuing operations 237 264 332 236
Earnings/(loss) from discontinued
operations, net of tax — (2) 1 —
Net earnings 237 262 333 236
Earnings from continuing
operations per common share:
Basic $ 0.69 $ 0.77 $ 0.96 $ 0.68
Diluted 0.68 0.76 0.95 0.68
(1) During the fourth quarter of fiscal 2013, we recorded an out-of-period increase in
income tax expense of $14 million related to uncertain tax benefits, of which generally
less than $1 million pertained to the each of the first three quarters of fiscal 2013 and
each of the quarters in fiscal 2012. The amounts were not material individually or in
the aggregate to current or prior periods.
(2) Due to the loss from continuing operations incurred during the fourth quarter of fiscal
2013, potential dilutive common shares have not been included in the denominator
of the diluted per share computation for this period due to their antidilutive effect.