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Redeemable Noncontrolling Interests and Noncontrolling Interests | 6 Months Ended
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Sep. 30, 2017
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interests and Noncontrolling Interests | Redeemable Noncontrolling Interests and Noncontrolling Interests Redeemable Noncontrolling Interests Our redeemable noncontrolling interests relate to our consolidated subsidiary, McKesson Europe. Under the domination and profit and loss transfer agreement (the “Domination Agreement”), the noncontrolling shareholders of McKesson Europe have a right to put (“Put Right”) their noncontrolling shares at €22.99 per share increased annually for interest in the amount of 5 percentage points above a base rate published by the German Bundesbank semi-annually, less any compensation amount or guaranteed dividend already paid by McKesson in respect of the relevant time period (“Put Amount”). The exercise of the Put Right will reduce the balance of redeemable noncontrolling interests. During the second quarter of 2018, there were no material exercises of the Put Right. During the first six months of 2018, we paid $50 million to purchase 1.9 million shares of McKesson Europe through the exercises of the Put Right by the noncontrolling shareholders, which decreased the carrying value of redeemable noncontrolling interests by $53 million. The balance of redeemable noncontrolling interests is reported as the greater of its carrying value or its maximum redemption value at each reporting date. The redemption value is the Put Amount adjusted for exchange rate fluctuations each period. At September 30, 2017 and March 31, 2017, the carrying value of redeemable noncontrolling interests of $1.42 billion and $1.33 billion exceeded the maximum redemption value of $1.29 billion and $1.21 billion. At September 30, 2017 and March 31, 2017, we owned approximately 77% and 76% of McKesson Europe’s outstanding common shares. Under the Domination Agreement, the noncontrolling shareholders of McKesson Europe are entitled to receive an annual recurring compensation amount of €0.83 per share. As a result, we recorded a total attribution of net income to the noncontrolling shareholders of McKesson Europe of $11 million and $20 million during the second quarter and first six months of 2018 and $12 million and $23 million during the second quarter and first six months of 2017. All amounts were recorded in our condensed consolidated statement of operations within the caption, “Net Income Attributable to Noncontrolling Interests,” and the corresponding liability balance was recorded within other accrued liabilities on our condensed consolidated balance sheet. Noncontrolling Interests The balances of our noncontrolling interests represent third-party equity interests in our consolidated entities primarily Vantage and ClarusONE Sourcing Services LLP, and were $219 million and $178 million at September 30, 2017 and March 31, 2017. We allocated a total of $44 million and $91 million of net income to noncontrolling interests during the second quarter and first six months of 2018 and $5 million and $12 million during the second quarter and first six months of 2017. Changes in redeemable noncontrolling interests and noncontrolling interests for the first six months of 2018 were as follows:
(In millions) | Noncontrolling Interests | Redeemable Noncontrolling Interests
Balance, March 31, 2017 | $ | 178 |  | $ | 1,327 |
Net income attributable to noncontrolling interests | 91 |  | 20 |
Other comprehensive income | — |  | 149 |
Reclassification of recurring compensation to other accrued liabilities | — |  | (20 | )
Payments to noncontrolling interests | (47 | ) | — |
Exercises of Put Right | — |  | (53 | )
Other | (3 | ) | — |
Balance, September 30, 2017 | $ | 219 |  | $ | 1,423 |
Changes in redeemable noncontrolling interests and noncontrolling interests for the first six months of 2017 were as follows:
(In millions) | Noncontrolling Interests | Redeemable Noncontrolling Interests
Balance, March 31, 2016 | $ | 84 |  | $ | 1,406 |
Net income attributable to noncontrolling interests | 12 |  | 23 |
Other comprehensive income | — |  | (65 | )
Reclassification of recurring compensation to other accrued liabilities | — |  | (23 | )
Purchase of noncontrolling interests | 85 |  | — |
Other | (7 | ) | — |
Balance, September 30, 2016 | $ | 174 |  | $ | 1,341 |
The effect of changes in our ownership interests with noncontrolling interests on our equity of $3 million was recorded as a net increase to McKesson’s stockholders’ paid-in capital during the first six months of 2018. Net income attributable to McKesson and transfers from noncontrolling interests amounted to $313 million during the first six months of 2018.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64809438&loc=SL4573702-111684 + Details
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