McKesson Corp Files Q3 2024 10-Q

TL;DR

McKesson's Q3 2024 10-Q is in. Check financials for drug distribution giant.

AI Summary

McKesson Corporation filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of their fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in drug distribution and healthcare services.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for McKesson, a major player in the pharmaceutical supply chain, impacting healthcare costs and accessibility.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 369 — Shares (Number of shares related to the filing.)
• 368 — Shares (Number of shares related to the filing.)
• 458 — Shares (Number of shares related to the filing.)

Key Players & Entities

• MCKESSON CORP (company) — Filer
• 20241231 (date) — Reporting Period End Date
• 20250206 (date) — Filing Date
• 6555 STATE HIGHWAY 161 (address) — Business and Mail Address
• IRVING (city) — Business and Mail City
• TX (state) — Business and Mail State
• 75039 (zip_code) — Business and Mail Zip Code

FAQ

Key Financial Figures

• $0.01 — nge on which registered) Common stock, $0.01 par value MCK New York Stock Exchange

Filing Documents

• mck-20241231.htm (10-Q) — 1837KB
• mck_exhibit311x1231202410-q.htm (EX-31.1) — 10KB
• mck_exhibit312x1231202410-q.htm (EX-31.2) — 10KB
• mck_exhibit32x1231202410-q.htm (EX-32) — 9KB
• mck-20241231_g1.jpg (GRAPHIC) — 11KB
• 0000927653-25-000014.txt ( ) — 9450KB
• mck-20241231.xsd (EX-101.SCH) — 50KB
• mck-20241231_cal.xml (EX-101.CAL) — 68KB
• mck-20241231_def.xml (EX-101.DEF) — 336KB
• mck-20241231_lab.xml (EX-101.LAB) — 685KB
• mck-20241231_pre.xml (EX-101.PRE) — 520KB
• mck-20241231_htm.xml (XML) — 1600KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 1 Condensed Consolidated Financial Statements Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended December 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of December 31, 2024 and March 31, 2024 5 Condensed Consolidated Statements of Stockholders' Deficit for the three and nine months ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2024 and 2023 8 Financial Notes 9 Note 1 - Significant Accounting Policies 9 Note 2 - Business Acquisitions and Divestitures 10 Note 3 - Restructuring, Impairment, and Related Charges, Net 11 Note 4 - Income Taxes 14 Note 5 - Earnings Per Common Share 15 Note 6 - Goodwill and Intangible Assets, Net 16 Note 7 - Debt and Financing Activities 17 Note 8 - Hedging Activities 19 Note 9 - Fair Value Measurements 20 Note 10 - Commitments and Contingent Liabilities 22 Note 11 - Stockholders' Deficit 26 Note 12 - Segments of Business 29 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 32 3 Quantitative and Qualitative Disclosures About Market Risk 50 4 Controls and Procedures 50

—OTHER INFORMATION

PART II—OTHER INFORMATION 1 Legal Proceedings 50 1A Risk Factors 50 2 Unregistered Sales of Equity Securities and Use of Proceeds 50 3 Defaults Upon Senior Securities 51 4 Mine Safety Disclosures 51 5 Other Information 51 6 Exhibits 53

Signatures

Signatures 54 2 Table of Contents McKESSON CORPORATION

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share amounts) (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Revenues $ 95,294 $ 80,898 $ 268,228 $ 232,596 Cost of sales ( 92,010 ) ( 77,746 ) ( 258,544 ) ( 223,353 ) Gross profit 3,284 3,152 9,684 9,243 Selling, distribution, general, and administrative expenses ( 2,028 ) ( 2,506 ) ( 6,532 ) ( 6,468 ) Claims and litigation charges, net — — ( 108 ) 2 Restructuring, impairment, and related charges, net ( 32 ) ( 4 ) ( 213 ) ( 84 ) Total operating expenses ( 2,060 ) ( 2,510 ) ( 6,853 ) ( 6,550 ) Operating income 1,224 642 2,831 2,693 Other income, net 69 34 233 98 Interest expense ( 67 ) ( 64 ) ( 220 ) ( 172 ) Income before income taxes 1,226 612 2,844 2,619 Income tax benefit (expense) ( 298 ) 18 ( 669 ) ( 289 ) Net income 928 630 2,175 2,330 Net income attributable to noncontrolling interests ( 49 ) ( 41 ) ( 140 ) ( 119 ) Net income attributable to McKesson Corporation $ 879 $ 589 $ 2,035 $ 2,211 Earnings per common share attributable to McKesson Corporation Diluted $ 6.95 $ 4.42 $ 15.80 $ 16.39 Basic $ 6.98 $ 4.45 $ 15.88 $ 16.49 Weighted-average common shares outstanding Diluted 126.6 133.3 128.8 134.9 Basic 126.0 132.5 128.2 134.0 See Financial Notes 3 Table of Contents McKESSON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Net income $ 928 $ 630 $ 2,175 $ 2,330 Other comprehensive income (loss), net of tax Foreign currency translation adjustments ( 112 ) 72 ( 109 ) 60 Unrealized gain on cash flow and other hedges 11 5 2 37 Changes in retirement-related benefit plans 2 ( 2 ) ( 1 ) ( 4 ) Other comprehensive income (loss), net of tax ( 99 ) 75 ( 108 ) 93 Comprehensive income 829 705 2,067 2,423 Comprehensiv

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View this 10-Q filing on SEC EDGAR