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Stockholders' Equity (Deficit) (Tables) | 3 Months Ended
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Jun. 30, 2021
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 June 30,
(In millions) |  |  |  |  | 2021 |  | 2020 |
Foreign currency translation adjustments (1) |  |  |  |  |  |  |  |
Foreign currency translation adjustments arising during period, net of income tax expense of zero and zero (2) |  |  |  |  | $ | 34 |  |  | $ | 96 |  |
Reclassified to income statement, net of income tax expense of zero and zero |  |  |  |  | 17 |  |  | — |  |
|  |  |  |  | 51 |  |  | 96 |  |
Unrealized losses on net investment hedges |  |  |  |  |  |  |  |
Unrealized losses on net investment hedges arising during period, net of income tax benefit of $6 and $22 (3) |  |  |  |  | (27) |  |  | (63) |  |
Reclassified to income statement, net of income tax expense of zero and zero |  |  |  |  | — |  |  | — |  |
|  |  |  |  | (27) |  |  | (63) |  |
Unrealized losses on cash flow hedges |  |  |  |  |  |  |  |
Unrealized losses on cash flow hedges arising during period, net of income tax benefit of zero and zero |  |  |  |  | — |  |  | (5) |  |
Reclassified to income statement, net of income tax expense of zero and zero |  |  |  |  | — |  |  | — |  |
|  |  |  |  | — |  |  | (5) |  |
Changes in retirement-related benefit plans (4) |  |  |  |  |  |  |  |
Net actuarial gain and prior service cost arising during the period, net of income tax expense of zero and zero |  |  |  |  | 5 |  |  | — |  |
Amortization of actuarial gain (loss), prior service cost and transition obligation, net of income tax benefit expense of zero and zero (5) |  |  |  |  | (1) |  |  | 2 |  |
Foreign currency translation adjustments and other, net of income tax benefit of zero and zero |  |  |  |  | — |  |  | (1) |  |
Reclassified to income statement, net of income tax benefit of $1 and zero |  |  |  |  | (2) |  |  | — |  |
|  |  |  |  | 2 |  |  | 1 |  |
Other comprehensive income, net of tax |  |  |  |  | $ | 26 |  |  | $ | 29 |  |
(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)The three months ended June 30, 2021 and 2020 includes net foreign currency translation adjustments of $9 million and $58 million, respectively, attributable to redeemable noncontrolling interests. (3)The three months ended June 30, 2021 includes foreign currency losses of $22 million on the net investment hedges from the €1.7 billion Euro-denominated notes, losses of $5 million on the net investment hedges from cross-currency swaps, and losses on net investment hedges of $6 million attributable to redeemable noncontrolling interests. The three months ended June 30, 2020 include foreign currency losses of $34 million on the net investment hedges from the €1.7 billion Euro-denominated notes and losses of $51 million on the net investment hedges from cross-currency swaps. (4)The three months ended June 30, 2021 and 2020 include net actuarial gains of zero and $3 million, respectively, which are attributable to redeemable noncontrolling interests. (5)Pre-tax amount was reclassified into “Cost of sales” and “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations. The related tax expense was reclassified into “Income tax expense” in the Condensed Consolidated Statements 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 months ended June 30, 2021 are as follows:
| Foreign Currency Translation Adjustments |  |  |  |  |  |
(In millions) | Foreign Currency Translation Adjustments, Net of Tax |  | Unrealized 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, 2021 | $ | (1,361) |  |  | $ | (36) |  |  | $ | 13 |  |  | $ | (96) |  |  | $ | (1,480) |
Other comprehensive income (loss) before reclassifications | 34 |  |  | (27) |  |  | — |  |  | 5 |  |  | 12 |
Amounts reclassified to earnings and other | 17 |  |  | — |  |  | — |  |  | (3) |  |  | 14 |
Other comprehensive income (loss) | 51 |  |  | (27) |  |  | — |  |  | 2 |  |  | 26 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | 9 |  |  | (6) |  |  | — |  |  | — |  |  | 3 |
Other comprehensive income (loss) attributable to McKesson | 42 |  |  | (21) |  |  | — |  |  | 2 |  |  | 23 |
Exercise of put right by noncontrolling shareholders of McKesson Europe AG | (158) |  |  | — |  |  | — |  |  | (12) |  |  | (170) |
Balance at June 30, 2021 | $ | (1,477) |  |  | $ | (57) |  |  | $ | 13 |  |  | $ | (106) |  |  | $ | (1,627) |
Information regarding changes in the Company’s Accumulated other comprehensive income (loss) by component for the three months ended June 30, 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 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 | 96 |  |  | (63) |  |  | (5) |  |  | (1) |  |  | 27 |
Amounts reclassified to earnings and other | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Other comprehensive income (loss) | 96 |  |  | (63) |  |  | (5) |  |  | 1 |  |  | 29 |
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests | 58 |  |  | — |  |  | — |  |  | 3 |  |  | 61 |
Other comprehensive income (loss) attributable to McKesson | 38 |  |  | (63) |  |  | (5) |  |  | (2) |  |  | (32) |
Balance at June 30, 2020 | $ | (1,742) |  |  | $ | 75 |  |  | $ | 44 |  |  | $ | (112) |  |  | $ | (1,735) |

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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=124509347&loc=d3e526-108580 + Details
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