XML 86 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

Held for Sale | 12 Months Ended
--- | ---
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Held for Sale | Held for Sale Assets and liabilities that have met the classification as held for sale were $906 million and $683 million as of March 31, 2020. These amounts primarily consist of the majority of the Company’s German pharmaceutical wholesale business described below. German Wholesale Joint Venture On December 12, 2019, the Company announced that it had entered into an agreement (the “Contribution Agreement”) with a third-party intending to contribute the majority of its German wholesale business to create a joint venture in which McKesson will have a non-controlling interest. This business is within the Company’s European Pharmaceutical Solutions segment. The agreement is subject to regulatory approvals and is expected to close within the second half of 2021. The transaction does not meet the criteria to be reported as a discontinued operation as it does not constitute a significant strategic business shift. As of March 31, 2020, $842 million of assets, and $656 million of liabilities were classified as “Assets held for sale” and “Liabilities held for sale” in the consolidated balance sheet. As part of the transaction, during 2020 the Company recorded charges totaling $275 million (pre-tax and after-tax) to remeasure the disposal group to the lower of carrying value or fair value less costs to sell. This amount is included in operating expenses in the consolidated statements of operations for the year ended March 31, 2020. The Company’s measurement of the fair value of the disposal group was based on the total consideration received by the Company as outlined in the Contribution Agreement. Certain components of the total consideration included fair value measurements that fall within Level 3 of the fair value hierarchy. The total assets and liabilities of the German wholesale joint venture that are classified as held for sale on the Company’s consolidated balance sheet as of March 31, 2020, are as follows:
(In millions) | March 31, 2020
Assets |
Current Assets |
Receivables, net | $ | 548 |
Inventories, net | 478 |
Long-term assets | 88 |
Remeasurement of assets of business held for sale to fair value less cost to sell (1) | (272 | )
Total Assets held for sale | $ | 842 |
Liabilities |
Current Liabilities |
Drafts and accounts payable | $ | 450 |
Other accrued liabilities | 40 |
Long-term liabilities | 166 |
Total Liabilities held for sale | $ | 656 |
(1) Includes the effect of approximately $3 million of cumulative foreign currency translation adjustment.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration