McKesson 2005 Annual Report Download - page 25

McKESSON CORPORATION
FIVE-YEAR HIGHLIGHTS
Footnotes to Five Year Highlights:
25
As of and for the Years Ended March 31,
(In millions, except per share amounts and ratios) 2005 2004 2003 2002 2001 (1)
Operating Results
Revenues $80,514.6 $69,506.1 $57,120.8 $49,988.1 $42,000.1
Percent change 15.8% 21.7% 14.3% 19.0% 14.5%
Gross
p
rofit 3,464.7 3,248.2 3,102.5 2,788.5 2,417.0
Income (loss) from continuing operations before income taxes (239.8) 911.4 851.4 602.1 4.6
Income (loss) from continuin
g
o
p
erations (156.7) 646.5 562.1 421.8 (43.3)
Income (loss) from discontinued operations — — (6.7) (3.2) (5.0)
Net income (loss) (156.7) 646.5 555.4 418.6 (48.3)
Financial Position
Workin
g
ca
p
ital 3,539.7 3,587.9 3,278.4 3,112.0 2,610.7
Days sales outstanding for: (2)
Customer receivables 23 25 26 26 26
Inventories 34 36 39 44 43
Drafts and accounts
p
a
y
able 40 39 42 46 44
Total assets 18,775.0 16,240.2 14,361.1 13,333.9 11,540.3
Total debt, includin
g
ca
p
ital lease obli
g
ations 1,210.5 1,484.6 1,507.1 1,636.2 1,436.2
Stockholders’ equity 5,275.1 5,165.3 4,525.5 3,937.2 3,490.1
Pro
p
ert
y
ac
q
uisitions 139.9 115.0 116.0 130.8 158.0
Common Share Information
Common shares outstanding at year-end 299.3 290.4 291.2 287.9 284.0
Shares on which earnin
g
s (loss)
p
er common share were based
Diluted 293.5 298.6 298.8 298.1 283.1
Basic 293.5 290.0 289.3 285.2 283.1
Diluted earnin
g
s (loss)
p
er common share
Continuing operations (0.53) 2.19 1.90 1.44 (0.15)
Discontinued o
p
erations
—
—
(0.02) (0.01) (0.02)
Total (0.53) 2.19 1.88 1.43 (0.17)
Cash dividends declared (3) 70.7 69.7 69.7 68.5 68.3
Cash dividends declared per common share(3) 0.24 0.24 0.24 0.24 0.24
Book value
p
er common share (4) 17.62 17.79 15.54 13.68 12.29
Market value per common share — year end 37.75 30.09 24.93 37.43 26.75
Supplemental Data
Ca
p
ital em
p
lo
y
ed (5) 6,485.6 6,649.9 6,032.6 5,573.4 4,926.3
Debt to capital ratio (6) 18.7% 22.3% 25.0% 29.4% 29.2%
Net debt to net ca
p
ital em
p
lo
y
ed (7) (12.8)% 12.9% 17.7% 21.4%22.1%
Average stockholders’ equity (8) 5,264.0 4,834.8 4,216.5 3,701.9 3,608.8
Return on stockholders’ e
q
uit
y
(9) (3.0)% 13.4% 13.2% 11.3%(1.3)%
(1) 2001 results include goodwill amortization. In accordance with Statement of Financial Accounting Standards No. 142, “Goodwill and Other Intangible
Assets,” we discontinued amortizing goodwill in 2002.
(2) Based on year-end balances and sales or cost of sales for the last 90 days of the year. Days sales outstanding for customer receivables are adjusted to
include accounts receivable sold.
(3) Cash dividends declared and dividends per common share amounts do not reflect the effects of pooling of interests transactions prior to the adoption of
Statement of Financial Accountin
g
Standard No. 141, “Business Combinations,” in 2002.
(4) Re
p
resents stockholders’ e
q
uit
y
divided b
y
y
ear-end common shares outstandin
g
.
(5) Consists of total debt and stockholders’ e
q
uit
y
.
(6) Ratio is com
p
uted as total debt divided b
y
ca
p
ital em
p
lo
y
ed.
(7) Ratio is computed as total debt, net of cash, cash equivalents and marketable securities (“net debt”), divided by net debt and stockholders’ equity (“net
capital employed”).
(8) Represents a five-quarter average of stockholders’ equity.
(9) Ratio is computed as net income (loss), divided by a five-quarter average of stockholders’ equity.