McKesson 2011 Annual Report Download - page 60

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McKESSON CORPORATION
See Financial Notes
54
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Years Ended March 31,
2011
2010
2009
Revenues
$
112,084
$
108,702
$
106,632
Cost of Sales
106,114
103,026
101,254
Gross Profit
5,970
5,676
5,378
Operating Expenses
Selling
767
746
743
Distribution
920
882
943
Research and development
407
376
364
Administrative
1,842
1,684
1,639
Litigation charge (credit), net
213
(20)
493
Total Operating Expenses
4,149
3,668
4,182
Operating Income
1,821
2,008
1,196
Other Income, Net
36
43
12
Interest Expense
(222)
(187)
(144)
Income from Continuing Operations Before Income
Taxes
1,635
1,864
1,064
Income Tax Expense
(505)
(601)
(241)
Income from Continuing Operations 1,130 1,263 823
Discontinued Operation – gain on sale, net of tax
72
—
—
Net Income
$
1,202
$
1,263
$
823
Earnings Per Common Share
Diluted
Continuing operations
$
4.29
$
4.62
$
2.95
Discontinued operation – gain on sale
0.28
—
—
Total
$
4.57
$
4.62
$
2.95
Basic
Continuing operations
$
4.37
$
4.70
$
2.99
Discontinued operation – gain on sale
0.28
—
—
Total
$
4.65
$
4.70
$
2.99
Weighted Average Common Shares
Diluted
263
273
279
Basic
258
269
275