McKesson 2008 Annual Report Download - page 67

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McKESSON CORPORATION
See Financial Notes
60
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Years Ended March 31,
2008 2007 2006
Revenues $ 101,703 $ 92,977 $ 86,983
Cost of Sales 96,694 88,645 83,206
Gross Profit 5,009 4,332 3,777
Operating Expenses
Selling 744 673 590
Distribution 886 771 686
Research and development 347 284 223
Administrative 1,559 1,346 1,107
Securities Litigation charge (credit), net (5) (6) 45
Total 3,531 3,068 2,651
Operating Income 1,478 1,264 1,126
Interest Expense (142) (99) (94)
Other Income, Net 121 132 139
Income from Continuing Operations Before Income
Taxes 1,457 1,297 1,171
Income Tax Provision (468) (329) (426)
Income After Income Taxes
Continuing operations 989 968 745
Discontinued operations, net 1 (5) (7)
Discontinued operations – gain (loss) on sales, net - (50) 13
Net Income $ 990 $ 913 $ 751
Earnings Per Common Share
Diluted
Continuing operations $ 3.32 $ 3.17 $ 2.36
Discontinued operations, net - (0.02) (0.02)
Discontinued operations – gain (loss) on sales, net - (0.16) 0.04
Total $ 3.32 $ 2.99 $ 2.38
Basic
Continuing operations $ 3.40 $ 3.25 $ 2.44
Discontinued operations, net - (0.02) (0.02)
Discontinued operations – gain (loss) on sales, net - (0.17) 0.04
Total $ 3.40 $ 3.06 $ 2.46
Weighted Average Shares
Diluted 298 305 316
Basic 291 298 306