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Variable Interest Entities
12 Months Ended
Mar. 31, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]  
Variable Interest Entities
Variable Interest Entities
Consolidated Variable Interest Entities
We consolidate VIE’s when we have the power to direct the activities that most significantly impact the entity’s economic performance, as well as the obligation to absorb losses or right to receive benefits of the entity, and as a result we are considered to be the primary beneficiary of these entities. In addition to the consolidation of certain VIEs in our specialty health practices, as a result of our acquisition of Celesio, we have interests in seven new consolidated VIE’s. These Celesio VIEs are single-lessee leasing entities in which Celesio as the lessee has the majority of the risk of the leased assets through the minimum lease payments owed by Celesio to the VIEs. As a result of absorbing this risk, the leases provide Celesio with power over the operations of the leased properties as well as the obligation to absorb losses or right to receive benefits of the entity. Consolidated VIEs have an immaterial impact on our consolidated statements of operations and cash flows. Total assets and liabilities included in our consolidated balance sheet for these VIEs were $160 million and $75 million at March 31, 2014.
Investments in Unconsolidated Variable Interest Entities
We are involved with VIEs, which we do not consolidate because we do not have the power to direct the activities that most significantly impact their economic performance and thus are not considered the primary beneficiary of the entities. Our relationships include equity investments, lending, leasing, contractual or other relationships with the VIEs. Our most significant relationships are with oncology and other specialty practices. Under these practice arrangements, we generally own or lease all of the real estate and the equipment used by the affiliated practices and manage the practices’ administrative functions. As a result of our acquisition of Celesio, we also have relationships with certain pharmacies in Europe with whom we may provide financing, have equity ownership and/or a supply agreement whereby we supply the vast majority of the pharmacies’ purchases. Our maximum exposure to loss (regardless of probability) as a result of all unconsolidated VIEs was $1.2 billion and $1.1 billion at March 31, 2014 and 2013, which primarily represents the value of intangible assets related to service agreements and lease and loan receivables. These amounts exclude the customer loan guarantees discussed in Financial Note 21, “Financial Guarantees and Warranties.” We believe that there is no material loss exposure on these assets or from these relationships.