McKesson 2012 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 of the 2012 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 128

  • 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

McKESSON CORPORATION
See Financial Notes
57
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended March 31,
2012
2011 2010
Operating Activities
N
et income $
1,403
$ 1,202 $ 1,263
Discontinued operation – gain on sale, net of tax — (72) —
Adjustments to reconcile to net cash provided by operating activities:
Depreciation
140
139 148
Amortization
411
357 326
Provision for bad debts
30
18 17
Other deferred taxes
242
184 161
Share-based compensation expense 154 137 114
Impairment of capitalized software held for sale
—
72 —
Other non-cash items
66
12 (20)
Changes in operating assets and liabilities, net of acquisitions:
Receivables
(770)
(673) (133)
Inventories
(878)
367 (782)
Drafts and accounts payable
2,027
533 1,340
Deferred revenue
66
42 27
Taxes
15
33 88
Litigation charges (credit)
149
213 (20)
Litigation settlement payments
(26)
(26) (350)
Deferred tax (benefit) expense on litigation
(78)
(56) 116
Other
(1)
(144) 21
Net cash provided by operating activities
2,950
2,338 2,316
Investin
g
Activities
Property acquisitions
(225)
(233) (199)
Capitalized software expenditures
(178)
(155) (179)
Acquisitions, net of cash and cash equivalents acquired
(1,156)
(292) (18)
Proceeds from sale of businesses
—
109 1
Restricted cash for litigation charges
(32)
— 55
Other
89
(53) 31
Net cash used in investing activities
(1,502)
(624) (309)
Financin
g
Activities
Proceeds from short-term borrowings
400
1,000 5
Repayments of short-term borrowings
—
(1,000) (6)
Proceeds from issuances of long-term debt
—
1,689 —
Repayments of long-term debt
(430)
(1,730) (218)
Common stock transactions:
Issuances
167
367 212
Share repurchases, including shares surrendered for tax withholding
(1,874)
(2,050) (323)
Dividends paid
(195)
(171) (131)
Other
27
54 40
Net cash used in financing activities
(1,905)
(1,841) (421)
Effect of exchange rate changes on cash and cash equivalents
(6)
8 36
N
et increase (decrease) in cash and cash equivalents
(463)
(119) 1,622
Cash and cash equivalents at beginning of year
3,612
3,731 2,109
Cash and cash equivalents at end of year $
3,149
$ 3,612 $ 3,731
Su
pp
lemental Cash Flow Information
Cash paid for:
Interest $
228
$ 244 $ 188
Income taxes, net of refunds
337
347 234
N
on-cash item:
Fair value of debt assumed on acquisition $
—
$ (1,891) $ —