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UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2015 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13252 McKESSON CORPORATION (Exact name of registrant as specified in its charter) Delaware 94-3207296 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One Post Street, San Francisco, California 94104 (Address of principal executive offices) (Zip Code) (415) 983-8300 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: (Title of each class) (Name of each exchange on which registered) Common stock, $0.01 par value New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer Accelerated filer Non-accelerated filer (Do not check if a smaller reporting company) Smaller reporting company Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, computed by reference to the closing price as of the last business day of the registrant’s most recently completed second fiscal quarter, September 30, 2014, was approximately $45.0 billion. Number of shares of common stock outstanding on April 30, 2015: 231,553,531 DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Proxy Statement for its 2015 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K. Table of Contents McKESSON CORPORATION TABLE OF CONTENTS Item Page PART I 1........ Business.............................................................................................................................................................. 3 1A..... Risk Factors........................................................................................................................................................ 11 1B. .... Unresolved Staff Comments .............................................................................................................................. 24 2........ Properties............................................................................................................................................................ 24 3........ Legal Proceedings .............................................................................................................................................. 24 4........ Mine Safety Disclosures..................................................................................................................................... 24 Executive Officers of the Registrant .................................................................................................................. 25 PART II 5........ Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities................................................................................................................. 26 6........ Selected Financial Data...................................................................................................................................... 28 7........ Management’s Discussion and Analysis of Financial Condition and Results of Operations............................. 29 7A..... Quantitative and Qualitative Disclosures About Market Risk ........................................................................... 50 8........ Financial Statements and Supplementary Data.................................................................................................. 51 9........ Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ............................ 111 9A..... Controls and Procedures..................................................................................................................................... 111 9B. .... Other Information............................................................................................................................................... 111 PART III 10...... Directors, Executive Officers and Corporate Governance................................................................................. 112 11...... Executive Compensation.................................................................................................................................... 112 12...... Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.......... 112 13...... Certain Relationships and Related Transactions and Director Independence.................................................... 114 14...... Principal Accounting Fees and Services 114 PART IV 15...... Exhibits and Financial Statement Schedule ....................................................................................................... 115 Signatures........................................................................................................................................................... 116 Table of Contents McKESSON CORPORATION PART I Item 1. Business. General McKesson Corporation (“McKesson,” the “Company,” the “Registrant” or “we” and other similar pronouns), currently ranked 15th on the Fortune 500, delivers pharmaceuticals, medical supplies and healthcare information technology that make healthcare safer while reducing costs. The Company’s fiscal year begins on April 1 and ends on March 31. Unless otherwise noted, all references in this document to a particular year shall mean the Company’s fiscal year. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act,”) are available free of charge on our website (www.mckesson.com under the “Investors — Financial Information — SEC Filings” caption) as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission (“SEC” or the “Commission”). The content on any website referred to in this Annual Report on Form 10-K is not incorporated by reference into this report, unless expressly noted otherwise. The public may also read or copy any materials that we file with the SEC at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding issuers, including the Company, that file electronically with the SEC. The address of the website is www.sec.gov. Business Segments We operate in two segments. The McKesson Distribution Solutions segment distributes ethical and proprietary drugs and equipment and health and beauty care products throughout North America and internationally. This segment includes our International pharmaceutical distribution and services business which reflects the results of operations of Celesio AG (“Celesio”), which we acquired in February 2014. Celesio supplies pharmaceuticals and other healthcare-related products through its pharmaceutical wholesale business and retail pharmacies. The Distribution Solutions segment provides specialty pharmaceutical solutions for biotech and pharmaceutical manufacturers, and practice management, technology, clinical support and business solutions to oncology and other specialty practices operating in the community
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