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Stockholders' Equity (Deficit) (Tables) | 9 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Schedule of information regarding other comprehensive income (loss) including noncontrolling and redeemable noncontrolling interests, net of tax, by component | Information regarding Other comprehensive income (loss) including noncontrolling interests and redeemable noncontrolling interests, net of tax, by component is as follows:
| Three Months Ended December 31, |  | Nine Months Ended December 31,
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019 |
Foreign currency translation adjustments (1) |  |  |  |  |  |  |  |
Foreign currency translation adjustments arising during period, net of income tax expense of nil, nil, nil, and nil (2) (3) | $ | 156 |  |  | $ | 101 |  |  | $ | 363 |  |  | $ | 57 |  |
Reclassified to income statement, net of income tax expense of nil, nil, nil, and nil (4) | 47 |  |  | — |  |  | 47 |  |  | — |  |
| 203 |  |  | 101 |  |  | 410 |  |  | 57 |  |
Unrealized losses on net investment hedges |  |  |  |  |  |  |  |
Unrealized losses on net investment hedges arising during period, net of income tax benefit of $33, $21, $80, and $1 (3)(5) | (96) |  |  | (58) |  |  | (229) |  |  | (2) |  |
Reclassified to income statement, net of income tax expense of nil, nil, nil, and nil | — |  |  | — |  |  | — |  |  | — |  |
| (96) |  |  | (58) |  |  | (229) |  |  | (2) |  |
Unrealized gains (losses) on cash flow hedges |  |  |  |  |  |  |  |
Unrealized gains (losses) on cash flow hedges arising during period, net of income tax (expense) benefit of $2, $3, $6, and $(7) | (12) |  |  | 8 |  |  | (36) |  |  | 33 |  |
Reclassified to income statement, net of income tax expense of nil, nil, nil, and nil | — |  |  | — |  |  | — |  |  | — |  |
| (12) |  |  | 8 |  |  | (36) |  |  | 33 |  |
Changes in retirement-related benefit plans (6) |  |  |  |  |  |  |  |
Net actuarial loss and prior service cost arising during the period, net of income tax benefit of nil, nil, nil, and $1 | — |  |  | — |  |  | — |  |  | (3) |  |
Amortization of actuarial loss, prior service cost and transition obligation, net of income tax benefit of $2, nil, $1, and nil (7) | (2) |  |  | (2) |  |  | — |  |  | — |  |
Foreign currency translation adjustments and other, net of income tax expense of nil, nil, nil, and nil (4) | 2 |  |  | (6) |  |  | (8) |  |  | 1 |  |
Reclassified to income statement, net of income tax expense of $9, $3, $9, and $35 (8) | 24 |  |  | 8 |  |  | 24 |  |  | 98 |  |
| 24 |  |  | — |  |  | 16 |  |  | 96 |  |
Other comprehensive income, net of tax | $ | 119 |  |  | $ | 51 |  |  | $ | 161 |  |  | $ | 184 |  |
(1)Foreign currency translation adjustments primarily result from the conversion of non-U.S. dollar financial statements of the Company’s foreign subsidiary, McKesson Europe, and its operations in Canada into the Company’s reporting currency, U.S. dollars. (2)During the three and nine months ended December 31, 2020, net foreign currency translation adjustments were primarily due to the strengthening of the Canadian dollar and Euro against the U.S. dollar from April 1, 2020 to December 31, 2020. During the three and nine months ended December 31, 2019, the net foreign currency translation adjustments were primarily due to the strengthening of the Euro and Canadian dollar against the U.S. dollar, partially offset by weakening of the British pound sterling from April 1, 2019 to December 31, 2019. (3)The three and nine months ended December 31, 2020 includes net foreign currency translation adjustments of $20 million and $(41) million, respectively, and the three and nine months ended December 31, 2019 includes net foreign currency translation adjustments of $12 million and $(1) million, respectively, attributable to redeemable noncontrolling interests. (4)The three and nine months ended December 31, 2020 include adjustments for amounts related to the contribution of the Company’s German pharmaceutical wholesale business to a joint venture, as discussed in more detail in Financial Note 3, “Held for Sale.” These amounts were included in the current and prior periods calculation of charges to remeasure the assets and liabilities held for sale to fair value less costs to sell recorded within Operating expenses in the Condensed Consolidated Statements of Operations. (5)The three and nine months ended December 31, 2020 includes foreign currency losses of $84 million and $201 million, respectively, on the net investment hedges from the €1.7 billion Euro-denominated notes and £450 million British pound sterling-denominated notes, losses of $45 million and $108 million, respectively, on the net investment hedges from cross-currency swaps, and losses on net investment hedges of nil and $1 million, respectively, attributable to redeemable noncontrolling interests. The three and nine months ended December 31, 2019 include foreign currency losses of $59 million and gains of $8 million, respectively, on the net investment hedges from the €1.70 billion Euro-denominated notes and £450 million British pound sterling-denominated notes and losses of $20 million and $11 million, respectively, on the net investment hedges from cross-currency swaps. (6)The three and nine months ended December 31, 2020 include net actuarial gains of $5 million and $3 million, respectively, and the three and nine months ended December 31, 2019 include net actuarial losses of $2 million and $1 million, respectively, which are attributable to redeemable noncontrolling interests. (7)Pre-tax amount was reclassified into Cost of sales and Operating expenses in the Condensed Consolidated Statements of Operations. The related tax expense was reclassified into Income tax benefit (expense) in the Condensed Consolidated Statements of Operations. (8)The nine months ended December 31, 2019 primarily reflects a reclassification of losses in the second quarter of 2020 upon a pension settlement charge from Accumulated other comprehensive loss to Other income (expense), net in the Condensed Consolidated Statement of Operations.
Schedule of information regarding changes in accumulated other comprehensive income (loss), net of tax, by component | Information regarding changes in the Company’s Accumulated other comprehensive income (loss) by component for the three and nine months ended December 31, 2020 are as follows:
| Foreign Currency Translation Adjustments |  |  |  |  |  |
(In millions) | Foreign Currency Translation Adjustments, Net of Tax |  | Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Unrealized Net Losses and Other Components of Benefit Plans, Net of Tax |  | Total Accumulated Other Comprehensive Loss
Balance at September 30, 2020 | $ | (1,512) |  |  | $ | 6 |  |  | $ | 25 |  |  | $ | (116) |  |  | $ | (1,597) |
Other comprehensive income (loss) before reclassifications | 156 |  |  | (96) |  |  | (12) |  |  | 2 |  |  | 50 |
Amounts reclassified to earnings and other | 47 |  |  | — |  |  | — |  |  | 22 |  |  | 69 |
Other comprehensive income (loss) | 203 |  |  | (96) |  |  | (12) |  |  | 24 |  |  | 119 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | 20 |  |  | — |  |  | — |  |  | 5 |  |  | 25 |
Other comprehensive income (loss) attributable to McKesson | 183 |  |  | (96) |  |  | (12) |  |  | 19 |  |  | 94 |
Balance at December 31, 2020 | $ | (1,329) |  |  | $ | (90) |  |  | $ | 13 |  |  | $ | (97) |  |  | $ | (1,503) |
| Foreign Currency Translation Adjustments |  |  |  |  |  |
(In millions) | Foreign Currency Translation Adjustments, Net of Tax |  | Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax |  | Total Accumulated Other Comprehensive Loss
Balance at March 31, 2020 | $ | (1,780) |  |  | $ | 138 |  |  | $ | 49 |  |  | $ | (110) |  |  | $ | (1,703) |
Other comprehensive income (loss) before reclassifications | 363 |  |  | (229) |  |  | (36) |  |  | (8) |  |  | 90 |
Amounts reclassified to earnings and other | 47 |  |  | — |  |  | — |  |  | 24 |  |  | 71 |
Other comprehensive income (loss) | 410 |  |  | (229) |  |  | (36) |  |  | 16 |  |  | 161 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | (41) |  |  | (1) |  |  | — |  |  | 3 |  |  | (39) |
Other comprehensive income (loss) attributable to McKesson | 451 |  |  | (228) |  |  | (36) |  |  | 13 |  |  | 200 |
Balance at December 31, 2020 | $ | (1,329) |  |  | $ | (90) |  |  | $ | 13 |  |  | $ | (97) |  |  | $ | (1,503) |
Information regarding changes in the Company’s Accumulated other comprehensive income (loss) by component for the three and nine months ended December 31, 2019 are as follows:
| Foreign Currency Translation Adjustments |  |  |  |  |  |
(In millions) | Foreign Currency Translation Adjustments, Net of Tax |  | Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax |  | Total Accumulated Other Comprehensive Loss
Balance at September 30, 2019 | $ | (1,659) |  |  | $ | 109 |  |  | $ | (12) |  |  | $ | (142) |  |  | $ | (1,704) |
Other comprehensive income (loss) before reclassifications | 101 |  |  | (58) |  |  | 8 |  |  | (6) |  |  | 45 |
Amounts reclassified to earnings and other | — |  |  | — |  |  | — |  |  | 6 |  |  | 6 |
Other comprehensive income (loss) | 101 |  |  | (58) |  |  | 8 |  |  | — |  |  | 51 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | 12 |  |  | — |  |  | — |  |  | (2) |  |  | 10 |
Other comprehensive income (loss) attributable to McKesson | 89 |  |  | (58) |  |  | 8 |  |  | 2 |  |  | 41 |
Balance at December 31, 2019 | $ | (1,570) |  |  | $ | 51 |  |  | $ | (4) |  |  | $ | (140) |  |  | $ | (1,663) |
| Foreign Currency Translation Adjustments |  |  |  |  |  |
(In millions) | Foreign Currency Translation Adjustments, Net of Tax |  | Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax |  | Total Accumulated Other Comprehensive Loss
Balance at March 31, 2019 | $ | (1,628) |  |  | $ | 53 |  |  | $ | (37) |  |  | $ | (237) |  |  | $ | (1,849) |
Other comprehensive income (loss) before reclassifications | 57 |  |  | (2) |  |  | 33 |  |  | (2) |  |  | 86 |
Amounts reclassified to earnings and other | — |  |  | — |  |  | — |  |  | 98 |  |  | 98 |
Other comprehensive income (loss) | 57 |  |  | (2) |  |  | 33 |  |  | 96 |  |  | 184 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | (1) |  |  | — |  |  | — |  |  | (1) |  |  | (2) |
Other comprehensive income (loss) attributable to McKesson | 58 |  |  | (2) |  |  | 33 |  |  | 97 |  |  | 186 |
Balance at December 31, 2019 | $ | (1,570) |  |  | $ | 51 |  |  | $ | (4) |  |  | $ | (140) |  |  | $ | (1,663) |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580 + Details
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