Earnings per Common Share

12 Months Ended

Mar. 31, 2022

Earnings (Loss) Per Common ShareBasic earnings (loss) per common share are computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The computation of diluted earnings (loss) per common share is similar to that of basic earnings (loss) per common share, except that the former reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Potentially dilutive securities include outstanding stock options, restricted stock units, and performance-based and other restricted stock units.

Diluted loss per common share for the year ended March 31, 2021 was calculated by excluding all dilutive securities from the denominator of the share computation due to their anti-dilutive effects. Approximately nil and 2 million of potentially dilutive securities for 2022 and 2020, respectively, were excluded from the computation of diluted net earnings per common share, as they were anti-dilutive.

The computations for basic and diluted earnings or loss per common share are as follows:


	Years Ended March 31,
(In millions, except per share amounts)	2022		2021		2020
Income (loss) from continuing operations	$	1,292	$	(4,339)	$	1,126
Net income attributable to noncontrolling interests	(173)		(199)		(220)
Income (loss) from continuing operations attributable to McKesson	1,119		(4,538)		906
Loss from discontinued operations, net of tax	(5)		(1)		(6)
Net income (loss) attributable to McKesson	$	1,114	$	(4,539)	$	900

Weighted-average common shares outstanding:
Basic	152.3		160.6		180.6
Effect of dilutive securities:
Stock options	0.2		—		—
Restricted stock units (1)	1.6		—		1.0
Diluted	154.1		160.6		181.6

Earnings (loss) per common share attributable to McKesson: (2)
Diluted
Continuing operations	$	7.26	$	(28.26)	$	4.99
Discontinued operations	(0.03)		—		(0.04)
Total	$	7.23	$	(28.26)	$	4.95
Basic
Continuing operations	$	7.35	$	(28.26)	$	5.01
Discontinued operations	(0.03)		—		(0.03)
Total	$	7.32	$	(28.26)	$	4.98

(1)Includes dilutive effect from restricted stock units and performance-based stock units.

(2)Certain computations may reflect rounding adjustments.