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McKESSON CORPORATION
FINANCIAL NOTES (Concluded)
105
Revenues and property, plant and equipment by geographic areas were as follows:
Years Ended March 31,
(In millions)
2011
2010
2009
Revenues
United States
$
102,089
$
99,387
$
98,194
International
9,995
9,315
8,438
Total
$
112,084
$
108,702
$
106,632
Property, plant and equipment, net, at year end
United States
$
901
$
764
$
719
International
90
87
77
Total
$
991
$
851
$
796
International operations primarily consist of our operations in Canada, the United Kingdom, Ireland, other
European countries and Israel. We also have an equity-held investment (Nadro) in Mexico. Net revenues were
attributed to geographic areas based on the customers’ shipment locations.
21. Quarterly Financial Information (Unaudited)
(In millions, except per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year
Fiscal 2011
Revenues
$
27,450
$
27,534
$
28,247
$
28,853
$
112,084
Gross profit
(1)
1,392
1,366
1,461
1,751
5,970
Net income
(1)(2)
298
327
155
422
1,202
Earnings per common share
(1)(2)
Diluted
Continuing operations
$
1.10
$
0.97
$
0.60
$
1.62
$
4.29
Discontinued operation
(3)
—
0.28
—
—
0.28
Total
$
1.10
$
1.25
$
0.60
$
1.62
$
4.57
Earnings per common share
(1)(2)
Basic
Continuing operations
$
1.12
$
0.99
$
0.61
$
1.65
$
4.37
Discontinued operation
(3)
—
0.28
—
—
0.28
Total
$
1.12
$
1.27
$
0.61
$
1.65
$
4.65
Fiscal 2010
Revenues
$
26,657
$
27,130
$
28,272
$
26,643
$
108,702
Gross profit
1,303
1,335
1,455
1,583
5,676
Net income
(4)
288
301
326
348
1,263
Earnings per common share
(4)
Diluted
$
1.06
$
1.11
$
1.19
$
1.26
$
4.62
Basic 1.07 1.13 1.21 1.29 4.70
(1) Financial results for the first quarter and full year of 2011 include a credit of $51 million representing our share of a
settlement of an antitrust class action lawsuit. Financial results for the second quarter and full year 2011 include a $72
million asset impairment charge for capitalized software held for sale. Financial results of US Oncology are included in our
consolidated financial statements beginning in the fourth quarter of 2011.
(2) Financial results for the second and third quarters and full year 2011 include charges of $24 million pre-tax ($16 million
after-tax), $189 million pre-tax ($133 million after-tax) and $213 million pre-tax ($149 million after-tax) associated with the
AWP litigation.
(3) Financial results for the second quarter and full year of 2011 include a $95 million pre-tax ($72 million after-tax) gain from
the sale of MAP.
(4) Financial results for the third quarter and full year 2010 include a $17 million pre-tax gain ($14 million after-tax) on sale of
our 50% interest in MLS.