XML 43 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity (Tables)
 6 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Schedule of information regarding other comprehensive income (loss) including noncontrolling and redeemable noncontrolling interests, net of tax, by component
Information regarding other comprehensive income (loss) including redeemable noncontrolling interests, net of tax, by component is as follows:
 
Quarter Ended September 30,
 
Six Months Ended September 30,
 (In millions)
2018
 
2017
 
2018
 
2017
Foreign currency translation adjustments (1)
 
 
 
 
 
 
 
Foreign currency translation adjustments arising during period, net of income tax benefit of nil, nil, nil and nil (2) (3)
$
5

 
$
303

 
$
(268
)
 
$
685

Reclassified to income statement, net of income tax expense of nil, nil, nil and nil
—

 
—

 
—

 
—

 
5

 
303

 
(268
)
 
685

 
 
 
 
 
 
 
 
Unrealized gains (losses) on net investment hedges arising during period, net of income tax (expense) benefit of ($7), $25, ($58) and $69 (4)
21

 
(38
)
 
165

 
(108
)
Reclassified to income statement, net of income tax expense of nil, nil, nil and nil
—

 
—

 
—

 
—

 
21

 
(38
)
 
165

 
(108
)
Unrealized gains (losses) on cash flow hedges
 
 
 
 
 
 
 
Unrealized gains (losses) on cash flow hedges arising during period, net of income tax expense of nil, nil, nil and nil
2

 
(3
)
 
2

 
11

Reclassified to income statement, net of income tax expense of nil, nil, nil and nil
—

 
—

 
—

 
—

 
2

 
(3
)
 
2

 
11

Changes in retirement-related benefit plans (5)
 
 
 
 
 
 
 
Net actuarial loss and prior service cost arising during the period, net of income tax benefit of nil, nil, nil and nil
—

 
—

 
—

 
—

Amortization of actuarial loss, prior service cost and transition obligation, net of income tax expense of $2, nil, $2 and nil (6)
3

 
1

 
4

 
2

Foreign currency translation adjustments and other, net of income tax expense of nil, nil, nil and nil
1

 
(4
)
 
8

 
(10
)
 
4

 
(3
)
 
12

 
(8
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
$
32

 
$
259

 
$
(89
)
 
$
580


(1)
Foreign currency translation adjustments primarily result from the conversion of non-U.S. dollar financial statements of our foreign subsidiary, McKesson Europe, into the Company’s reporting currency, U.S. dollars, during the second quarters and first six months of 2019 and 2018.
(2)
During the first six months of 2019, the net foreign currency translation losses were primarily due to the weakening of the Euro and British pound sterling against the U.S. dollar from April 1, 2018 to September 30, 2018. During the second quarter and first six months of 2018, the net foreign currency translation gains were primarily due to the strengthening of the Euro, Canadian dollar and British pound sterling against the U.S. dollar from April 1, 2017 to September 30, 2017.
(3)
The second quarter and first six months of 2019 include net foreign currency translation losses of $7 million and $46 million and the second quarter and first six months of 2018 include net foreign currency translation gains of $33 million and $148 million attributable to redeemable noncontrolling interests.
(4)
The second quarter and first six months of 2019 include foreign currency gains of $23 million and $184 million on the net investment hedges from the €1.95 billion Euro-denominated notes and £450 million British pound sterling-denominated notes and gains of $5 million and $39 million on the net investment hedges from the cross-currency swaps. The second quarter and first six months of 2018 include foreign currency losses of $63 million and $177 million on the net investment hedges from the €1.20 billion Euro-denominated notes and £450 million British pound sterling-denominated notes.
(5)
The second quarter and first six months of 2019 include net actuarial gains of nil and $2 million and the second quarter and first six months of 2018 include net actuarial losses of nil and $1 million, which are attributable to redeemable noncontrolling interests.
(6)
Pre-tax amount reclassified into cost of sales and operating expenses in our condensed consolidated statements of operations. The related tax expense was reclassified into income tax expense in our condensed consolidated statements of operations.
Schedule of information regarding changes in accumulated other comprehensive income (loss), net of tax, by component
Information regarding changes in our accumulated other comprehensive income (loss), net of tax, by component for the second quarter and six months of 2019 is as follows:
 
Foreign Currency Translation Adjustments
 
 
 
 
 
 
(In millions)
Foreign Currency Translation Adjustments, Net of Tax
 
Unrealized Gains (Losses) on Net Investment Hedges,
Net of Tax
 
Unrealized Gains (Losses) on Cash Flow Hedges,
Net of Tax
 
Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax
 
Total Accumulated Other Comprehensive Income (Loss)
Balance at June 30, 2018
$
(1,492
)
 
$
(44
)
 
$
(61
)
 
$
(204
)
 
(1,801
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income before reclassifications
5

 
21

 
2

 
1

 
29

Amounts reclassified to earnings and other
—

 
—

 
—

 
3

 
3

Other comprehensive income
5

 
21

 
2

 
4

 
32

Less: amounts attributable to noncontrolling and redeemable noncontrolling interests
(7
)
 
—

 
—

 
—

 
(7
)
Other comprehensive income attributable to McKesson
12

 
21

 
2

 
4

 
39

Balance at September 30, 2018
$
(1,480
)
 
$
(23
)
 
$
(59
)
 
$
(200
)
 
$
(1,762
)

 
Foreign Currency Translation Adjustments
 
 
 
 
 
 
(In millions)
Foreign Currency Translation Adjustments, Net of Tax
 
Unrealized Gains (Losses) on Net Investment Hedges,
Net of Tax
 
Unrealized Gains (Losses) on Cash Flow Hedges,
Net of Tax
 
Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax
 
Total Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2018
$
(1,258
)
 
$
(188
)
 
$
(61
)
 
$
(210
)
 
$
(1,717
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
(268
)
 
165

 
2

 
8

 
(93
)
Amounts reclassified to earnings
—

 
—

 
—

 
4

 
4

Other comprehensive income (loss)
(268
)
 
165

 
2

 
12

 
(89
)
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests
(46
)
 
—

 
—

 
2

 
(44
)
Other comprehensive income (loss) attributable to McKesson
(222
)
 
165

 
2

 
10

 
(45
)
Balance at September 30, 2018
$
(1,480
)
 
$
(23
)
 
$
(59
)
 
$
(200
)
 
$
(1,762
)