McKesson 2014 Annual Report Download - page 115

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McKESSON CORPORATION
FINANCIAL NOTES (Concluded)
112
(In millions, except per share amounts) First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Fiscal 2013
Revenues $ 30,699 $ 29,755 $ 31,099 $ 30,516
Gross profit 1,561 1,683 1,645 1,959
Income after income taxes
Continuing operations (1) (2) (3) $ 379 $ 399 $ 306 $ 263
Discontinued operations 1 2 (8)(4)
Net income 380 401 298 259
Net loss attributable to noncontrolling interests — — — —
Net income attributable to McKesson $ 380 $ 401 $ 298 $ 259
Earnings per common share attributable
to McKesson (4)
Diluted
Continued operations $ 1.58 $ 1.66 $ 1.27 $ 1.11
Discontinued operations — 0.01 (0.03)(0.01)
Total $ 1.58 $ 1.67 $ 1.24 $ 1.10
Basic
Continuing operations $ 1.61 $ 1.69 $ 1.30 $ 1.13
Discontinued operations — 0.01 (0.03)(0.01)
Total $ 1.61 $ 1.70 $ 1.27 $ 1.12
(1) Financial results for the first quarter of 2013 include an $81 million pre-tax gain on business combination, which was recorded as a reduction to operating
expenses within our Corporate segment.
(2) Financial results for the third quarter of 2013 include a $40 million pre-tax charge for a legal dispute in our Canadian business which was recorded in operating
expenses within our Distribution Solutions segment.
(3) Financial results for the fourth quarter of 2013 include a pre-tax impairment charge for an equity investment of $191 million recorded in other income, net
within our Distribution Solutions segment. Financial results for the fourth quarter of 2013 also include $46 million of pre-tax impairment charges recorded
in our Technology Solutions segment of which $36 million was recorded in operating expenses and $10 million was recorded in cost of sales.
(4) Certain computations may reflect rounding adjustments.