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Quarterly Financial Information (Unaudited) | 12 Months Ended
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Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) The quarterly results of operations are not necessarily indicative of the results that may be expected for the entire year. Selected quarterly financial information for the last two years is as follows:
(In millions, except per share amounts) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Fiscal 2018 |  |  |  |  |  |  |
Revenues | $ | 51,051 |  |  | $ | 52,061 |  |  | $ | 53,617 |  |  | $ | 51,628 |
Gross profit (1) | 2,560 |  |  | 2,834 |  |  | 2,715 |  |  | 3,075 |
Income (loss) after income taxes: |  |  |  |  |  |  |
Continuing operations (1) (2) (3) (4) (5) | $ | 363 |  |  | $ | 56 |  |  | $ | 960 |  |  | $ | (1,087 | )
Discontinued operations | 2 |  |  | — |  |  | 1 |  |  | 2 |
Net income (loss) | $ | 365 |  |  | $ | 56 |  |  | $ | 961 |  |  | $ | (1,085 | )
Net income (loss) attributable to McKesson | $ | 309 |  |  | $ | 1 |  |  | $ | 903 |  |  | $ | (1,146 | )
Earnings (loss) per common share attributable to McKesson (6) |  |  |  |  |  |  |
Diluted (7) |  |  |  |  |  |  |
Continuing operations | $ | 1.44 |  |  | $ | 0.01 |  |  | $ | 4.32 |  |  | $ | (5.58 | )
Discontinued operations | 0.01 |  |  | — |  |  | 0.01 |  |  | — |
Total | $ | 1.45 |  |  | $ | 0.01 |  |  | $ | 4.33 |  |  | $ | (5.58 | )
Basic |  |  |  |  |  |  |
Continuing operations | $ | 1.46 |  |  | $ | 0.01 |  |  | $ | 4.34 |  |  | $ | (5.58 | )
Discontinued operations | — |  |  | — |  |  | 0.01 |  |  | — |
Total | $ | 1.46 |  |  | $ | 0.01 |  |  | $ | 4.35 |  |  | $ | (5.58 | )
(1) | Gross profit for the first, second, third and fourth quarters of 2018 includes pre-tax charge of $26 million, pre-tax credits of $29 million, $2 million and $94 million related to our last-in-first-out (“LIFO”) method of accounting for inventories.
(2) | Financial results for the second and fourth quarter of 2018 include non-cash goodwill impairment charges (pre-tax and after-tax) of $350 million and $933 million for our McKesson Europe reporting unit. In addition, financial results for the fourth quarter of 2018 include a non-cash goodwill impairment charge of $455 million for our Rexall Health reporting unit. These charges were recorded within our Distribution Solutions segment.
(3) | Financial results for the second and fourth quarter of 2018 include non-cash pre-tax asset impairment charges of $189 million and $257 million for our McKesson Europe business.
(4) | Financial results for the third quarter of 2018 include a pre-tax gain of $109 million from the sale of our EIS business.
(5) | Financial results for the first, second, third and fourth quarters of 2018 include our proportionate share of loss from Change Healthcare of $120 million, $61 million, $90 million and income of $23 million.
(6) | Certain computations may reflect rounding adjustments.
(7) | As a result of our reported net loss for the fourth quarter of 2018, potentially dilutive securities were excluded from the 2018 fourth quarter per share computations due to their antidilutive effect.
(In millions, except per share amounts) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Fiscal 2017 |  |  |  |  |  |  |
Revenues | $ | 49,733 |  |  | $ | 49,957 |  |  | $ | 50,130 |  |  | $ | 48,713 |
Gross profit (1) (2) (3) | 2,907 |  |  | 2,756 |  |  | 2,812 |  |  | 2,796 |
Income (loss) after income taxes: |  |  |  |  |  |  |
Continuing operations (1) (2) (3) (4) | $ | 673 |  |  | $ | 325 |  |  | $ | 649 |  |  | $ | 3,630 |
Discontinued operations | (113 | ) |  | (1 | ) |  | (3 | ) |  | (7 | )
Net income | $ | 560 |  |  | $ | 324 |  |  | $ | 646 |  |  | $ | 3,623 |
Net income attributable to McKesson | $ | 542 |  |  | $ | 307 |  |  | $ | 633 |  |  | $ | 3,588 |
Earnings (loss) per common share attributable to McKesson (5) |  |  |  |  |  |  |
Diluted |  |  |  |  |  |  |
Continuing operations | $ | 2.88 |  |  | $ | 1.35 |  |  | $ | 2.86 |  |  | $ | 16.79 |
Discontinued operations | (0.50 | ) |  | (0.01 | ) |  | (0.01 | ) |  | (0.03 | )
Total | $ | 2.38 |  |  | $ | 1.34 |  |  | $ | 2.85 |  |  | $ | 16.76 |
Basic |  |  |  |  |  |  |
Continuing operations | $ | 2.91 |  |  | $ | 1.36 |  |  | $ | 2.89 |  |  | $ | 16.95 |
Discontinued operations | (0.50 | ) |  | — |  |  | (0.02 | ) |  | (0.03 | )
Total | $ | 2.41 |  |  | $ | 1.36 |  |  | $ | 2.87 |  |  | $ | 16.92 |
(1) | Gross profit for the first, second, third and fourth quarters of 2017 includes pre-tax charge of $47 million, pre-tax credits of $43 million, $155 million and pre-tax charge of $144 million related to our LIFO method of accounting for inventories.
(2) | Gross profit for the first and third quarters of 2017 includes $142 million and $2 million of cash proceeds representing our share of net settlements of antitrust class action lawsuits.
(3) | Financial results for the fourth quarter of 2017 include a pre-tax gain of $3,947 million ($3,018 million after-tax) recognized from the Healthcare Technology Net Asset Exchange, net of transaction and related expenses.
(4) | Financial results for the second quarter of 2017 include a non-cash pre-tax charge of $290 million for goodwill impairment related to the EIS reporting unit within our Technology Solutions segment.
(5) | Certain computations may reflect rounding adjustments.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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