McKesson 2014 Annual Report Download - page 60

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McKESSON CORPORATION
See Financial Notes
57
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Years Ended March 31,
2014 2013 2012
Revenues $ 137,609 $ 122,069 $ 122,321
Cost of Sales (129,300)(115,221)(115,919)
Gross Profit 8,309 6,848 6,402
Operating Expenses
Selling, distribution and administrative expenses (5,418)(4,099)(3,727)
Research and development (456)(433)(402)
Litigation charges (68)(72)(149)
Gain on business combination — 81 —
Total Operating Expenses (5,942)(4,523)(4,278)
Operating Income 2,367 2,325 2,124
Other Income, Net 32 34 20
Impairment of an Equity Investment — (191) —
Interest Expense (303)(240)(251)
Income from Continuing Operations Before Income Taxes 2,096 1,928 1,893
Income Tax Expense (742)(581)(514)
Income from Continuing Operations 1,354 1,347 1,379
Income (Loss) from Discontinued Operations, Net of Tax (96)(9) 24
Net Income 1,258 1,338 1,403
Net Loss Attributable to Noncontrolling Interests 5 — —
Net Income Attributable to McKesson Corporation $ 1,263 $ 1,338 $ 1,403
Earnings (Loss) Per Common Share Attributable to
McKesson Corporation
Diluted
Continuing operations $ 5.83 $ 5.62 $ 5.49
Discontinued operations (0.42)(0.03) 0.10
Total $ 5.41 $ 5.59 $ 5.59
Basic
Continuing operations $ 5.93 $ 5.74 $ 5.60
Discontinued operations (0.42)(0.03) 0.10
Total $ 5.51 $ 5.71 $ 5.70
Weighted Average Common Shares
Diluted 233 239 251
Basic 229 235 246