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Stockholders' Equity (Deficit) (Tables)
 12 Months Ended
Mar. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Shares Repurchased Over Last Three Years
Information regarding share repurchase activity over the last three fiscal years were as follows:
Share Repurchases (1)
(In millions, except price per share)
Total
Number of
Shares
Purchased (2)
Average Price
Paid Per Share
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the
Programs (3)
Balance, March 31, 2021$2,785 
Shares repurchased - May 2021 ASR5.2 $193.22 (1,000)
Shares repurchased - Open market4.6 $217.73 (1,007)
Share repurchase authorization increase in fiscal 20224,000 
Shares repurchased - February 2022 ASR (4)
4.8 $265.56 (1,500)
Balance, March 31, 20223,278 
Shares repurchased - February 2022 ASR (4)
0.3 $295.16 — 
Shares repurchased - May 2022 ASR3.1 $321.05 (1,000)
Share repurchase authorization increase in fiscal 20234,000 
Shares repurchased - December 2022 ASR2.6 $369.20 (972)
Shares repurchased - Open market (5)
4.7 $363.24 (1,693)
Balance, March 31, 20233,613 
Share repurchase authorization increase in fiscal 20246,000 
Shares repurchased - Open market6.9 $436.46 (2,998)
Balance, March 31, 2024$6,615 
(1)This table does not include the value of equity awards surrendered to satisfy tax withholding obligations or forfeitures of equity awards.
(2)The number of shares purchased reflects rounding adjustments.
(3)The remaining authorization outstanding for repurchases of common stock excludes $25 million of excise taxes incurred on share repurchases for the year ended March 31, 2024.
(4)In February 2022, the Company entered into an ASR program with a third-party financial institution to repurchase $1.5 billion shares of common stock. The total number of shares repurchased under this ASR program was 5.1 million shares at an average price per share of $295.16. The Company received 4.8 million shares as the initial share settlement in the fourth quarter of fiscal 2022, and in May 2022, the Company received an additional 0.3 million shares upon the completion of this ASR program.
(5)Of the total dollar value, $27 million was accrued within “Other accrued liabilities” in the Company’s Consolidated Balance Sheet as of March 31, 2023 for share repurchases that were executed in late March 2023 and settled in early April 2023.
Schedule of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the Company’s accumulated other comprehensive loss by component were as follows:
Foreign Currency Translation Adjustments
(In millions)
Foreign Currency Translation Adjustments, Net of Tax (1)
Unrealized Gains (Losses) on Net Investment Hedges,
Net of Tax (2)
Unrealized Gains (Losses) on Cash Flow and Other Hedges,
Net of Tax (3)
Unrealized Gains (Losses) and Other Components of Benefit Plans, Net of TaxTotal Accumulated Other Comprehensive Loss
Balance, March 31, 2021$(1,361)$(36)$13 $(96)$(1,480)
Other comprehensive income (loss) before reclassifications
(51)41 18 31 39 
Amounts reclassified to earnings and
other (4)
71 (1)(4)10 76 
Other comprehensive income20 40 14 41 115 
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests5 (6)— — (1)
Other comprehensive income attributable to McKesson15 46 14 41 116 
Exercise of put right by noncontrolling shareholders of McKesson Europe AG(158)— — (12)(170)
Balance, March 31, 2022
(1,504)10 27 (67)(1,534)
Other comprehensive income (loss) before reclassifications
(329)112 10 28 (179)
Amounts reclassified to earnings and
other (5)
1,027 (136)(73)34 852 
Other comprehensive income (loss)698 (24)(63)62 673 
Less: amounts attributable to noncontrolling interests41 — — 3 44 
Other comprehensive income (loss) attributable to McKesson657 (24)(63)59 629 
Balance, March 31, 2023
(847)(14)(36)(8)(905)
Other comprehensive income (loss) before reclassifications
(9)2 39 (6)26 
Amounts reclassified to earnings and other— — — (2)(2)
Other comprehensive income (loss)(9)2 39 (8)24 
Less: amounts attributable to noncontrolling interests— — — — — 
Other comprehensive income (loss) attributable to McKesson(9)2 39 (8)24 
Balance, March 31, 2024
$(856)$(12)$3 $(16)$(881)
(1)Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Europe into the Company’s reporting currency, U.S. dollars.
(2)Amounts before reclassifications recorded in fiscal 2023 and fiscal 2022 include gains of $7 million and $73 million, respectively, related to net investment hedges from Euro-denominated notes. Amounts before reclassifications recorded in fiscal 2024, fiscal 2023, and fiscal 2022 include gains (losses) of $3 million, $28 million, and $(4) million, respectively, related to net investment hedges from cross-currency swaps. These amounts are net of income tax expense of $1 million, $33 million, and $23 million in fiscal 2024, fiscal 2023, and fiscal 2022, respectively.
(3)Amounts before reclassifications recorded in fiscal 2024, fiscal 2023, and fiscal 2022 include gains (losses) of $39 million, $(54) million, and $(18) million, respectively, related to cash flow and other hedges from cross-currency swaps, and gains (losses) of $14 million, $(30) million, and $39 million, respectively, related to cash flow hedges from fixed interest rate swaps. These amounts are net of income tax benefit (expense) of $(14) million, $21 million, and $(7) million in fiscal 2024, fiscal 2023, and fiscal 2022, respectively.
(4)Primarily includes adjustments for amounts related to the sale of the Company’s Austrian business, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.” These amounts were included in the fiscal 2022 calculation of charges to remeasure the assets and liabilities held for sale to fair value less costs to sell recorded within “Selling, distribution, general, and administrative expenses” in the Consolidated Statement of Operations.
(5)Primarily includes adjustments for amounts related to the divestitures of the E.U. disposal group in October 2022, including the impact of amounts previously attributed to the noncontrolling interest in McKesson Europe, and the U.K. disposal group in April 2022, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.” These amounts were included in the fiscal 2023 and fiscal 2022 calculations of charges to remeasure the assets and liabilities of the disposal groups to fair value less costs to sell recorded within “Selling, distribution, general, and administrative expenses” in the Consolidated Statements of Operations. Amounts reclassified to earnings and other includes a net income tax impact of $6 million.