McKesson 2009 Annual Report Download - page 99

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McKESSON CORPORATION
FINANCIAL NOTES (Continued)
93
The computations for basic and diluted earnings per share from continuing and discontinued operations are as
follows:
Years Ended March 31,
(In millions, except per share amounts) 2009 2008 2007
Income from continuing operations $ 823 $ 989 $ 968
Discontinued operations, net - 1 (5)
Discontinued operations – loss on sales, net - - (50)
Net income $ 823 $ 990 $ 913
Weighted average common shares outstanding:
Basic 275 291 298
Effect of dilutive securities:
Options to purchase common stock 3 5 6
Restricted stock 1 2 1
Diluted 279 298 305
Earnings per common share: (1)
Basic
Continuing operations $ 2.99 $ 3.40 $ 3.25
Discontinued operations, net - - (0.02)
Discontinued operations – loss on sales, net - - (0.17)
Total $ 2.99 $ 3.40 $ 3.06
Diluted
Continuing operations $ 2.95 $ 3.32 $ 3.17
Discontinued operations, net - - (0.02)
Discontinued operations – loss on sales, net - - (0.16)
Total $ 2.95 $ 3.32 $ 2.99
(1) Certain computations may reflect rounding adjustments.
Approximately 5 million, 8 million and 11 million stock options were excluded from the computations of
diluted net earnings per share in 2009, 2008 and 2007 as their exercise price was higher than the Company’s average
stock price.
9. Receivables, net
March 31,
(In millions) 2009 2008
Customer accounts $ 6,902 $ 6,390
Other 1,033 984
Total 7,935 7,374
Allowances (161) (161)
Net $ 7,774 $ 7,213
The allowances are primarily for uncollectible accounts and sales returns.