Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - MCKESSON CORP | mck_exhibit312x3312016.htm |
| EX-10.18 - EXHIBIT 10.18 - MCKESSON CORP | mck_exhibit1018x3312016.htm |
| EX-10.14 - EXHIBIT 10.14 - MCKESSON CORP | mck_exhibit1014x3312016.htm |
| EX-21 - EXHIBIT 21 - MCKESSON CORP | mck_exhibit21x3312016.htm |
| EX-24 - EXHIBIT 24 - MCKESSON CORP | mck_exhibit24x3312016.htm |
| EX-10.19 - EXHIBIT 10.19 - MCKESSON CORP | mck_exhibit1019x3312016.htm |
| EX-23 - EXHIBIT 23 - MCKESSON CORP | mck_exhbit23x3312016.htm |
| 10-K - 10-K - MCKESSON CORP | mck_10kx3312016.htm |
| EX-31.1 - EXHIBIT 31.1 - MCKESSON CORP | mck_exhibit311x3312016.htm |
| EX-32 - EXHIBIT 32 - MCKESSON CORP | mck_exhibit32x3312016.htm |
Exhibit 12
McKESSON CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended March 31, | |||||||||||||||||||
(Dollars in millions) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 3,250 | $ | 2,657 | $ | 2,171 | $ | 1,950 | $ | 1,915 | |||||||||
Adjustment for equity in net income of and dividends from equity investees | (1 | ) | (1 | ) | 2 | (1 | ) | (2 | ) | ||||||||||
Fixed charges - below | 498 | 520 | 400 | 316 | 329 | ||||||||||||||
Amortization of capitalized interest | 1 | 1 | 2 | 2 | 3 | ||||||||||||||
Less: Capitalized interest | (1 | ) | — | — | (1 | ) | (1 | ) | |||||||||||
Earnings as adjusted (a) | $ | 3,747 | $ | 3,177 | $ | 2,575 | $ | 2,266 | $ | 2,244 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense (b) (c) | $ | 353 | $ | 374 | $ | 300 | $ | 240 | $ | 250 | |||||||||
Capitalized interest | 1 | — | — | 1 | 1 | ||||||||||||||
Portion of rental expense representative of the interest factor (d) | 144 | 146 | 100 | 75 | 78 | ||||||||||||||
Total fixed charges | $ | 498 | $ | 520 | $ | 400 | $ | 316 | $ | 329 | |||||||||
Ratio: | |||||||||||||||||||
Ratio of earnings to fixed charges | 7.5 | 6.1 | 6.4 | 7.2 | 6.8 | ||||||||||||||
(a) | Fiscal years 2011 through 2014 have been recast primarily to exclude our Brazil pharmaceutical distribution business as a discontinued operation and reflect the reclassification of a business from discontinued operations to continuing operations. |
(b) | Interest expense includes amortization of debt discounts and deferred loan costs. |
(c) | Interest expense on uncertain tax liabilities is excluded from interest expense as the company records these amounts within income tax expense. |
(d) | One-third of net rent expense is the portion of rental expense deemed representative of the interest factor. |