Stockholders' Equity (Deficit) (Tables)

9 Months Ended

Dec. 31, 2021

Schedule of information regarding changes in accumulated other comprehensive income (loss), net of tax, by component

Information regarding changes in the Company’s Accumulated other comprehensive income (loss), including noncontrolling interests and redeemable noncontrolling interests, by components for the three and nine months ended December 31, 2021 and 2020 are as follows:


	Foreign Currency Translation Adjustments
(In millions)	Foreign Currency Translation Adjustments, Net of Tax (1)		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 Loss
Balance at September 30, 2021	$	(1,557)	$	(25)		$	21	$	(104)	$	(1,665)
Other comprehensive income (loss) before reclassifications	—		16		⁽²⁾	(6)		(1)		9
Amounts reclassified to income statement	—		—			—		(1)		(1)
Other comprehensive income (loss)	—		16			(6)		(2)		8
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests	(2)		—			—		—		(2)
Other comprehensive income (loss) attributable to McKesson	2		16			(6)		(2)		10

Balance at December 31, 2021	$	(1,555)	$	(9)		$	15	$	(106)	$	(1,655)

(1)Primarily result from the conversion of non-U.S. dollar financial statements of the Company’s operations in Europe and Canada into the Company’s reporting currency, U.S. dollars.

(2)Amounts recorded in the three months ended December 31, 2021 include gains of $23 million related to net investment hedges from Euro-denominated notes and losses of $2 million related to net investment hedges from cross-currency swaps. These amounts are net of income tax expense of $5 million.


	Foreign Currency Translation Adjustments
(In millions)	Foreign Currency Translation Adjustments, Net of Tax (1)		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 Loss
Balance at March 31, 2021	$	(1,361)	$	(36)		$	13	$	(96)	$	(1,480)
Other comprehensive income (loss) before reclassifications	(47)		21		⁽²⁾	(3)		5		(24)
Amounts reclassified to income statement	18		—			5		(3)		20
Other comprehensive income (loss)	(29)		21			2		2		(4)
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests	7		(6)			—		—		1
Other comprehensive income (loss) attributable to McKesson	(36)		27			2		2		(5)
Exercise of put right by noncontrolling shareholders of McKesson Europe AG	(158)		—			—		(12)		(170)
Balance at December 31, 2021	$	(1,555)	$	(9)		$	15	$	(106)	$	(1,655)

(1)Primarily result from the conversion of non-U.S. dollar financial statements of the Company’s operations in Europe and Canada into the Company’s reporting currency, U.S. dollars.

(2)Amounts recorded in the nine months ended December 31, 2021 include gains of $34 million related to net investment hedges from Euro-denominated notes and gains of $3 million related to net investment hedges from cross-currency swaps. These amounts are net of income tax expense of $10 million.


	Foreign Currency Translation Adjustments
(In millions)	Foreign Currency Translation Adjustments, Net of Tax (1)		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 Loss
Balance at September 30, 2020	$	(1,512)	$	6		$	25	$	(116)	$	(1,597)
Other comprehensive income (loss) before reclassifications	156		(96)		⁽²⁾	(12)		2		50
Amounts reclassified to income statement	47		—			—		22		69
Other comprehensive income (loss)	203		(96)			(12)		24		119
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests	20		—			—		5		25
Other comprehensive income (loss) attributable to McKesson	183		(96)			(12)		19		94
Balance at December 31, 2020	$	(1,329)	$	(90)		$	13	$	(97)	$	(1,503)

(1)Primarily result from the conversion of non-U.S. dollar financial statements of the Company’s operations in Europe and Canada into the Company’s reporting currency, U.S. dollars.

(2)Amounts recorded in the three months ended December 31, 2020 include losses of $84 million related to net investment hedges from Euro-denominated notes and losses of $45 million related to net investment hedges from cross-currency swaps. These amounts are net of income tax benefit of $33 million.


	Foreign Currency Translation Adjustments
(In millions)	Foreign Currency Translation Adjustments, Net of Tax (1)		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 Loss
Balance at March 31, 2020	$	(1,780)	$	138		$	49	$	(110)	$	(1,703)
Other comprehensive income (loss) before reclassifications	363		(229)		⁽²⁾	(36)		(8)		90
Amounts reclassified to income statement	47		—			—		24		71
Other comprehensive income (loss)	410		(229)			(36)		16		161
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests	(41)		(1)			—		3		(39)
Other comprehensive income (loss) attributable to McKesson	451		(228)			(36)		13		200
Balance at December 31, 2020	$	(1,329)	$	(90)		$	13	$	(97)	$	(1,503)

(1)Primarily result from the conversion of non-U.S. dollar financial statements of the Company’s operations in Europe and Canada into the Company’s reporting currency, U.S. dollars.

(2)Amounts recorded in the nine months ended December 31, 2020 include losses of $201 million related to net investment hedges from Euro-denominated notes and losses of $108 million related to net investment hedges from cross-currency swaps. These amounts are net of income tax benefit of $80 million.