McKesson 2014 Annual Report Download - page 13

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McKESSON CORPORATION
10
We are committed to maintaining compliance with all environmental laws applicable to our operations, products and services
and to reducing our environmental impact across all aspects of our business. We meet this commitment through an environmental
strategy and sustainability program.
We sold our chemical distribution operations in 1987 and retained responsibility for certain environmental obligations.
Agreements with the Environmental Protection Agency and certain states may require environmental assessments and cleanups
at several closed sites. These matters are described further in Financial Note 22, “Other Commitments and Contingent Liabilities,”
to the consolidated financial statements appearing in this Annual Report on Form 10-K.
The liability for environmental remediation and other environmental costs is accrued when the Company considers it probable
and can reasonably estimate the costs. Environmental costs and accruals, including that related to our legacy chemical distribution
operations, are presently not material to our operations or financial position. Although there is no assurance that existing or future
environmental laws applicable to our operations or products will not have a material adverse impact on our operations or financial
condition, we do not currently anticipate material capital expenditures for environmental matters. Other than the expected
expenditures that may be required in connection with our legacy chemical distribution operations, we do not anticipate making
substantial capital expenditures either for environmental issues, or to comply with environmental laws and regulations in the future.
The amount of our capital expenditures for environmental compliance was not material in 2014 and is not expected to be material
in the next year.
Employees: On March 31, 2014, we employed approximately 42,800 persons and Celesio employed approximately 28,600
persons. We employed approximately 43,500 and 37,700 on March 31, 2013 and 2012.
Financial Information About Foreign and Domestic Operations: Information as to foreign and domestic operations is included
in Financial Notes 1 and 25, “Significant Accounting Policies” and “Segments of Business,” to the consolidated financial statements
appearing in this Annual Report on Form 10-K.
Forward-Looking Statements
This Annual Report to Stockholders, including the Chairman’s 2014 letter, “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in Item 7 of Part II of this report and the “Risk Factors” in Item 1A of Part I of
this report, contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended and
section 21E of the Securities Exchange Act of 1934, as amended. Some of these statements can be identified by use of forward-
looking words such as “believes,” “expects,” “anticipates,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans”
or “estimates,” or the negative of these words, or other comparable terminology. The discussion of financial trends, strategy, plans
or intentions may also include forward-looking statements. Forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from those projected, anticipated, or implied. Although it is not possible to predict or
identify all such risks and uncertainties, they may include, but are not limited to, the factors discussed in Item 1A of Part I of this
report under “Risk Factors.” The reader should not consider the list to be a complete statement of all potential risks and uncertainties.
These and other risks and uncertainties are described herein and in other information contained in our publicly available SEC
filings and press releases. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak
only as of the date such statements were first made. Except to the extent required by federal securities laws, we undertake no
obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances
after the date hereof, or to reflect the occurrence of unanticipated events.