Segments of Business (Tables)

12 Months Ended

Mar. 31, 2016

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals is as follows:



	Years Ended March 31,
(In millions)	2016			2015			2014
Revenues
Distribution Solutions ⁽¹⁾
North America pharmaceutical distribution and services	$	158,469		$	143,711		$	123,929
International pharmaceutical distribution and services	23,497			26,358			4,485
Medical-Surgical distribution and services	6,033			5,907			5,648
Total Distribution Solutions	187,999			175,976			134,062

Technology Solutions - products and services	2,885			3,069			3,330
Total Revenues	$	190,884		$	179,045		$	137,392

Operating profit
Distribution Solutions ^{(2) (4)}	$	3,553		$	3,047		$	2,472
Technology Solutions ^{(3) (4)}	519			438			448
Total	4,072			3,485			2,920
Corporate Expenses, Net ⁽⁴⁾	(469		)	(454		)	(449		)
Interest Expense	(353		)	(374		)	(300		)
Income From Continuing Operations Before Income Taxes	$	3,250		$	2,657		$	2,171

Depreciation and amortization ⁽⁵⁾
Distribution Solutions	$	669		$	750		$	446
Technology Solutions	107			156			169
Corporate	109			111			120
Total	$	885		$	1,017		$	735

Expenditures for long-lived assets ⁽⁶⁾
Distribution Solutions	$	306		$	301		$	179
Technology Solutions	15			27			47
Corporate	167			48			52
Total	$	488		$	376		$	278

Revenues, net by geographic area ⁽⁷⁾
United States	$	158,255		$	142,810		$	122,426
Foreign	32,629			36,235			14,966
Total	$	190,884		$	179,045		$	137,392


(1)	Revenues derived from services represent less than 2% of this segment’s total revenues.

(2)

Distribution Solutions operating profit for the year ended March 31, 2016, 2015, and 2014 include $244 million, $337 million, and $311 million in pre-tax charges related to our last-in, first-out (“LIFO”) method of accounting for inventories. LIFO expense was less in 2016 primarily due to lower net price increases. For the year ended March 31, 2016 includes $76 million of net cash proceeds representing our share of net settlements of antitrust class action lawsuits as well as a pre-tax gain of $52 million recognized from the sale of our ZEE Medical business.


(3)	Technology Solutions operating profit for the year ended March 31, 2016 includes a pre-tax gain of $51 million recognized from the sale of our nurse triage business, and for year ended March 31, 2015 includes a non-cash pre-tax charge of $34 million related to the retained workforce business within our International Technology business.


(4)	During the fourth quarter of 2016, the Company approved the Cost Alignment Plan to reduce its operating expenses and recorded pre-tax restructuring charges of $229 million. Pre-tax charges were recorded as follows: $161 million, $51 million and $17 million within our Distribution Solutions segment, Technology Solutions segment and Corporate.


(5)	Amounts primarily include amortization of acquired intangible assets purchased in connection with business acquisitions, capitalized software held for sale and capitalized software for internal use.


(6)	Long-lived assets consist of property, plant and equipment.


(7)	Net revenues were attributed to geographic areas based on the customers’ shipment locations.

Schedule of segment assets and property, plant and equipment, net by geographic areas

Segment assets and property, plant and equipment, net by geographic areas were as follows:



	March 31,
(In millions)	2016		2015
Segment assets
Distribution Solutions	$	47,088	$	43,982
Technology Solutions	3,072		3,281
Total	50,160		47,263
Corporate
Cash and cash equivalents	4,048		5,341
Other	2,355		1,266
Total	$	56,563	$	53,870

Property, plant and equipment, net
United States	$	1,500	$	1,273
Foreign	778		772
Total	$	2,278	$	2,045