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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial information
The quarterly results of operations are not necessarily indicative of the results that may be expected for the entire year. Selected quarterly financial information for the last two years is as follows:
(In millions, except per share amounts)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Fiscal 2016
 
 
 
 
 
 
 
Revenues
$
47,546

 
$
48,761

 
$
47,899

 
$
46,678

Gross profit (1) (2) (3)
2,848

 
2,844

 
2,872

 
2,852

Income after income taxes:
 
 
 
 
 
 
 
Continuing operations (1) (3) (4)
$
599

 
$
636

 
$
642

 
$
465

Discontinued operations
(10
)
 
(6
)
 
5

 
(21
)
Net income
$
589

 
$
630

 
$
647

 
$
444

Net income attributable to McKesson
$
576

 
$
617

 
$
634

 
$
431

Earnings (loss) per common share attributable
to McKesson (5)
 
 
 
 
 
 
 
Diluted
 
 
 
 
 
 
 
Continuing operations
$
2.50

 
$
2.65

 
$
2.71

 
$
1.97

Discontinued operations
(0.05
)
 
(0.02
)
 
0.02

 
(0.09
)
Total
$
2.45

 
$
2.63

 
$
2.73

 
$
1.88

Basic
 
 
 
 
 
 
 
Continuing operations
$
2.53

 
$
2.68

 
$
2.74

 
$
1.99

Discontinued operations
(0.04
)
 
(0.02
)
 
0.02

 
(0.09
)
Total
$
2.49

 
$
2.66

 
$
2.76

 
$
1.90


(1)
Gross profit for the first, second, third and fourth quarters of 2016 included pre-tax charges related to our last-in-first-out (“LIFO”) method of accounting for inventories of $91 million, $91 million, $33 million and $29 million.
(2)
Gross profit for the first and third quarters of 2016 included $59 million and $17 million of cash proceeds representing our share of net settlements of antitrust class action lawsuits against drug manufacturers.
(3)
Financial results for the fourth quarter of 2016 include pre-tax restructuring charges of $229 million within our continuing operations. Charges were recorded as follows: $26 million in cost of sales and $203 million in operating expenses.
(4)
Financial results for the first quarter of 2016 include an after-tax gain of $38 million from the sale of our nurse triage business, and for the second quarter of 2016 include an after-tax gain of $29 million from the sale of ZEE Medical business.
(5)
Certain computations may reflect rounding adjustments.

(In millions, except per share amounts)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Fiscal 2015
 
 
 
 
 
 
 
Revenues
$
43,476

 
$
44,160

 
$
46,484

 
$
44,925

Gross profit (1)
2,732

 
2,864

 
2,898

 
2,917

Income after income taxes
 
 
 
 
 
 
 
Continuing operations (1) (2)
$
419

 
$
491

 
$
521

 
$
411

Discontinued operations (3)
(8
)
 
(14
)
 
(10
)
 
(267
)
Net income
$
411

 
$
477

 
$
511

 
$
144

Net income attributable to McKesson
$
403

 
$
469

 
$
472

 
$
132

Earnings per common share attributable
to McKesson (4)
 
 
 
 
 
 
 
Diluted
 
 
 
 
 
 
 
Continued operations
$
1.76

 
$
2.05

 
$
2.04

 
$
1.69

Discontinued operations
(0.04
)
 
(0.06
)
 
(0.04
)
 
(1.13
)
Total
$
1.72

 
$
1.99

 
$
2.00

 
$
0.56

Basic
 
 
 
 
 
 
 
Continuing operations
$
1.79

 
$
2.08

 
$
2.07

 
$
1.72

Discontinued operations
(0.04
)
 
(0.06
)
 
(0.04
)
 
(1.15
)
Total
$
1.75

 
$
2.02

 
$
2.03

 
$
0.57

(1)
Gross profit for the first, second, third and fourth quarters of 2015 included pre-tax charges related to our LIFO method of accounting for inventories of $98 million, $94 million, $95 million and $50 million.
(2)
Financial results for the fourth quarter of 2015 included a non-cash after-tax charge of $150 million related to the settlement of controlled substance distribution claims.
(3)
Discontinued operations for the fourth quarter of 2015 included $235 million non-cash after-tax impairment charges related to our Brazilian pharmaceutical distribution business.
(4)
Certain computations may reflect rounding adjustments.