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Redeemable Noncontrolling Interests and Noncontrolling Interests | 9 Months Ended
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Dec. 31, 2019
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interests and Noncontrolling Interests | Redeemable Noncontrolling Interests and Noncontrolling Interests Redeemable Noncontrolling Interests The Company’s redeemable noncontrolling interests primarily relate to its consolidated subsidiary, McKesson Europe AG (“McKesson Europe”). Under the December 2014 domination and profit and loss transfer agreement (the “Domination Agreement”), the noncontrolling shareholders of McKesson Europe are entitled to receive an annual recurring compensation amount of €0.83 per share and a one-time guaranteed dividend for calendar year 2014 of €0.83 per share reduced accordingly for any dividend paid by McKesson Europe in relation to that year. As a result, the Company recorded a total attribution of net income to the noncontrolling shareholders of McKesson Europe of $11 million and $33 million during the three and nine months ended December 31, 2019 and $11 million and $34 million during the three and nine months ended December 31, 2018. All amounts were recorded within net income attributable to noncontrolling interests in the Company’s condensed consolidated statements of operations and the corresponding liability balance was recorded within other accrued liabilities on the Company’s condensed consolidated balance sheets. Under 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 with respect to the relevant time period (“Put Amount”). The exercise of the Put Right will reduce the balance of redeemable noncontrolling interests. During the three and nine months ended December 31, 2019 and 2018, there were no material exercises of the Put Right. 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 each period for exchange rate fluctuations. At December 31, 2019 and March 31, 2019, the carrying value of redeemable noncontrolling interests of $1.40 billion and $1.39 billion exceeded the maximum redemption value of $1.24 billion and $1.23 billion. At December 31, 2019 and March 31, 2019, the Company owned approximately 77% of McKesson Europe’s outstanding common shares. Noncontrolling Interests Noncontrolling interests represent third-party equity interests in the Company’s consolidated entities primarily related to ClarusONE and Vantage Oncology Holdings, LLC, which were $211 million and $193 million at December 31, 2019 and March 31, 2019 on the Company’s condensed consolidated balance sheets. The Company allocated a total of $45 million and $130 million of net income to noncontrolling interests during the three and nine months ended December 31, 2019 and $46 million and $135 million during the three and nine months ended December 31, 2018. Changes in redeemable noncontrolling interests and noncontrolling interests for the three and nine months ended December 31, 2019 were as follows:
(In millions) | Noncontrolling Interests |  | Redeemable Noncontrolling Interests
Balance, September 30, 2019 | $ | 210 |  |  | $ | 1,384 |
Net income attributable to noncontrolling interests | 45 |  |  | 11 |
Other comprehensive income | — |  |  | 10 |
Reclassification of recurring compensation to other accrued liabilities | — |  |  | (11 | )
Payments to noncontrolling interests | (39 | ) |  | — |
Other | (5 | ) |  | 3 |
Balance, December 31, 2019 | $ | 211 |  |  | $ | 1,397 |
(In millions) | Noncontrolling Interests |  | Redeemable Noncontrolling Interests
Balance, March 31, 2019 | $ | 193 |  |  | $ | 1,393 |
Net income attributable to noncontrolling interests | 130 |  |  | 33 |
Other comprehensive loss | — |  |  | (2 | )
Reclassification of recurring compensation to other accrued liabilities | — |  |  | (33 | )
Payments to noncontrolling interests | (115 | ) |  | — |
Other | 3 |  |  | 6 |
Balance, December 31, 2019 | $ | 211 |  |  | $ | 1,397 |
Changes in redeemable noncontrolling interests and noncontrolling interests for the three and nine months ended December 31, 2018 were as follows:
(In millions) | Noncontrolling Interests |  | Redeemable Noncontrolling Interests
Balance, September 30, 2018 | $ | 208 |  |  | $ | 1,415 |
Net income attributable to noncontrolling interests | 46 |  |  | 11 |
Other comprehensive loss | — |  |  | (11 | )
Reclassification of recurring compensation to other accrued liabilities | — |  |  | (11 | )
Payments to noncontrolling interests | (37 | ) |  | — |
Other | (13 | ) |  | — |
Balance, December 31, 2018 | $ | 204 |  |  | $ | 1,404 |
(In millions) | Noncontrolling Interests |  | Redeemable Noncontrolling Interests
Balance, March 31, 2018 | $ | 253 |  |  | $ | 1,459 |
Net income attributable to noncontrolling interests | 135 |  |  | 34 |
Other comprehensive loss | — |  |  | (55 | )
Reclassification of recurring compensation to other accrued liabilities | — |  |  | (34 | )
Payments to noncontrolling interests | (143 | ) |  | — |
Other | (41 | ) |  | — |
Balance, December 31, 2018 | $ | 204 |  |  | $ | 1,404 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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