McKesson 2014 Annual Report Download - page 31

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McKESSON CORPORATION
28
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) 2014 (1) 2013 2012 2011 2010
Operating Results
Revenues $ 137,609 $ 122,069 $ 122,321 $ 111,677 $ 108,295
Percent change 12.7% (0.2)% 9.5% 3.1% 1.9 %
Gross profit $ 8,309 $ 6,848 $ 6,402 $ 5,797 $ 5,498
Income from continuing operations before income taxes 2,096 1,928 1,893 1,579 1,806
Income (loss) after income taxes
Continuing operations 1,354 1,347 1,379 1,083 1,205
Discontinued operations (96) (9) 24 119 58
Net income 1,258 1,338 1,403 1,202 1,263
Net loss attributable to noncontrolling interests (2) 5 — — — —
Net income attributable to McKesson Corporation 1,263 1,338 1,403 1,202 1,263
Financial Position
Working capital $ 3,072 $ 1,813 $ 1,917 $ 3,631 $ 4,492
Days sales outstanding for: (3)
Customer receivables 30 26 24 25 25
Inventories 34 33 31 31 34
Drafts and accounts payable 54 51 49 47 48
Total assets $ 51,759 $ 34,786 $ 33,093 $ 30,886 $ 28,189
Total debt, including capital lease obligations 10,719 4,873 3,980 4,004 2,297
Total McKesson stockholders’ equity 8,522 7,070 6,831 7,220 7,532
Property acquisitions 274 232 221 233 199
Acquisitions, net of cash and cash equivalents acquired 4,634 1,873 1,051 292 18
Common Share Information
Common shares outstanding at year-end 231 227 235 252 271
Shares on which earnings per common share were based
Diluted 233 239 251 263 273
Basic 229 235 246 258 269
Diluted earnings (loss) per common share attributable to
McKesson Corporation (4)
Continuing operations $ 5.83 $ 5.62 $ 5.49 $ 4.12 $ 4.41
Discontinued operations (0.42) (0.03) 0.10 0.45 0.21
Total 5.41 5.59 5.59 4.57 4.62
Cash dividends declared 214 192 202 188 131
Cash dividends declared per common share 0.92 0.80 0.80 0.72 0.48
Book value per common share (4) (5) 36.89 31.15 29.07 28.65 27.79
Market value per common share - year-end 176.57 107.96 87.77 79.05 65.72
Supplemental Data
Capital employed (6) $ 19,241 $ 11,943 $ 10,811 $ 11,224 $ 9,829
Debt to capital ratio (7) 55.7% 40.8 % 36.8% 35.7% 23.4 %
Net debt to net capital employed (8) 43.4% 25.5 % 10.8% 5.1% (23.5)%
Average McKesson stockholders’ equity (9) $ 7,803 $ 7,294 $ 7,108 $ 7,105 $ 6,768
Return on McKesson stockholders’ equity (10) 16.2% 18.3 % 19.7% 16.9% 18.7 %
Footnotes to Five-Year Highlights:
(1) 2014 includes financial results from our February 6, 2014 acquisition of Celesio.
(2) Net loss attributable to noncontrolling interests represents the noncontrolling shareholders’ portion of net loss from Celesio, our majority-owned subsidiary,
acquired in the fourth quarter of fiscal year 2014.
(3) Based on year-end balances and sales or cost of sales for the last 90 days of the year.
(4) Certain computations may reflect rounding adjustments.
(5) Represents McKesson stockholders’ equity, excluding noncontrolling interests, divided by year-end common shares outstanding.
(6) Consists of the sum of total debt and McKesson stockholders’ equity, excluding noncontrolling interests.
(7) Ratio is computed as total debt divided by capital employed.
(8) Ratio is computed as total debt, net of cash and cash equivalents (“net debt”), divided by the sum of net debt and McKesson stockholders’ equity, excluding
noncontrolling interests (“net capital employed”).
(9) Represents a five-quarter average of McKesson stockholders’ equity, excluding noncontrolling interests.
(10) Ratio is computed as net income attributable to McKesson Corporation divided by a five-quarter average of McKesson stockholders’ equity, excluding
noncontrolling interests.