McKesson 2011 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2011 McKesson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

McKESSON CORPORATION
27
Item 6. Selected Financial Data
FIVE-YEAR HIGHLIGHTS
As of and for the Years Ended March 31,
(In millions, except per share data and ratios)
2011
2010
2009
2008
2007
Operating Results
Revenues
$
112,084
$
108,702
$
106,632
$
101,703
$
92,977
Percent change
3.1%
1.9%
4.8%
9.4%
6.9%
Gross profit
5,970
5,676
5,378
5,009
4,332
Income from continuing operations before
income taxes
1,635
1,864
1,064
1,457
1,297
Income after income taxes
Continuing operations
1,130
1,263
823
989
968
Discontinued operations
72
—
—
1
(55)
Net income
1,202
1,263
823
990
913
Financial Position
Working capital
3,631
4,492
3,065
2,438
2,730
Days sales outstanding for:
(1)
Customer receivables
25
25
24
22
21
Inventories
31
34
31
33
32
Drafts and accounts payable
47
48
43
44
43
Total assets
30,886
28,189
25,267
24,603
23,943
Total debt, including capital lease obligations
4,004
2,297
2,512
1,797
1,958
Stockholders’ equity
7,220
7,532
6,193
6,121
6,273
Property acquisitions
233
199
195
195
126
Acquisitions of businesses, net
292
18
358
610
1,938
Common Share Information
Common shares outstanding at year-end
252
271
271
277
295
Shares on which earnings per common share
were based
Diluted 263 273 279 298 305
Basic
258
269
275
291
298
Diluted earnings per common share
(2)
Continuing operations
$
4.29
$
4.62
$
2.95
$
3.32
$
3.17
Discontinued operations 0.28 — — — (0.18)
Total
4.57
4.62
2.95
3.32
2.99
Cash dividends declared 188
131 134 70 72
Cash dividends declared per common share
0.72
0.48
0.48
0.24
0.24
Book value per common share
(2) (3)
28.65 27.79 22.87 22.10 21.26
Market value per common share – year end
79.05
65.72
35.04
52.37
58.54
Supplemental Data
Capital employed
(4)
11,224 9,829 8,705 7,918 8,231
Debt to capital ratio
(5)
35.7%
23.4%
28.9%
22.7%
23.8%
Net debt to net capital employed
(6)
5.1% (23.5)%
6.1% 6.6% 0.1%
Average stockholders’ equity
(7)
7,105
6,768
6,214
6,344
6,022
Return on stockholders’ equity
(8)
16.9% 18.7% 13.2% 15.6% 15.2%
Footnotes to Five-Year Highlights:
(1) Based on year-end balances and sales or cost of sales for the last 90 days of the year.
(2) Certain computations may reflect rounding adjustments.
(3) Represents stockholders’ equity divided by year-end common shares outstanding.
(4) Consists of total debt and stockholders’ equity.
(5) Ratio is computed as total debt divided by capital employed.
(6) Ratio is computed as total debt, net of cash and cash equivalents (“net debt”), divided by net debt and stockholders’ equity
(“net capital employed”).
(7) Represents a five-quarter average of stockholders’ equity.
(8) Ratio is computed as net income divided by a five-quarter average of stockholders’ equity.