Change Healthcare (CHNG) 10-Q 13 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Feb. 07, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
Entity File Number	001-38961
Entity Registrant Name	Change Healthcare Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2152098
Entity Address, Address Line One	3055 Lebanon Pike
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37214
City Area Code	615
Local Phone Number	932-3000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		125,423,022
Amendment Flag	false
Entity Central Index Key	0001756497
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Common Stock [Member]
Title of 12(b) Security	Common Stock, par value $.001 per share
Trading Symbol	CHNG
Security Exchange Name	NASDAQ
Tangible Equity Units [Member]
Title of 12(b) Security	6.00% Tangible Equity Units
Trading Symbol	CHNGU
Security Exchange Name	NASDAQ

Condensed Statements of Operati

Condensed Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Condensed Statements of Operations [Abstract]
Revenue
Operating expenses
General and administrative	1,115	126	2,504	188
Accretion Expense	(1,191)		47,172
Total operating expenses	(76)	126	49,676	188
Operating income (loss)	76	(126)	(49,676)	(188)
Non-operating (income) expense
Loss from Equity Method Investment in the Joint Venture	8,764	17,468	104,497	65,805
(Gain) Loss on Sale of Interests in the Joint Venture				(661)
Management fee income	(771)	(126)	(1,648)	(188)
Interest expense	602		1,246
Interest income	(601)		(1,245)
Amortization of debt discount and issuance costs	191		403
Unrealized (gain) loss on forward purchase contract	(74,084)		(71,649)
Total non-operating (income) expense	(65,899)	17,342	31,604	64,956
Income (loss) before income tax provision (benefit)	65,975	(17,468)	(81,280)	(65,144)
Income tax provision (benefit)	15,240	(5,080)	(564)	(16,664)
Net income (loss)	$ 50,735	$ (12,388)	$ (80,716)	$ (48,480)
Net income (loss) per share:
Basic	$ 0.35	$ (0.16)	$ (0.67)	$ (0.64)
Diluted	$ 0.35	$ (0.16)	$ (0.67)	$ (0.64)
Weighted average shares (see Note 5):
Basic	143,392,295	75,465,310	120,657,859	75,525,645
Diluted	146,201,860	75,465,310	120,657,859	75,525,645

Condensed Statements of Compreh

Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Condensed Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 50,735	$ (12,388)	$ (80,716)	$ (48,480)
Other comprehensive income (loss):
Unrealized gain (loss) on available for sale debt securities of the Joint Venture, net of taxes	134		1,307
Changes in fair value of interest rate swap, net of taxes	1,313	(6,543)	(5,428)	(3,793)
Foreign currency translation adjustment of the Joint Venture	1,728	(2,418)	3,537	(4,445)
Other comprehensive income (loss)	3,175	(8,961)	(584)	(8,238)
Total comprehensive income (loss)	$ 53,910	$ (21,349)	$ (81,300)	$ (56,718)

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Current Assets:
Cash	$ 3,409	$ 3,409
Prepaid expenses	1,544
Due from the Joint Venture	3,429	373
Due from McKesson	213
Investment in Joint Venture tangible equity units, current	15,362
Income taxes receivable	1,359	1,781
Total current assets	25,316	5,563
Dividend receivable	68,344	81,264
Investment in Joint Venture	1,796,512	1,211,996
Investment in Joint Venture tangible equity units	329,581
Total assets	2,219,753	1,298,823
Current liabilities:
Accounts payable and accrued expenses	259	176
Due to the Joint Venture	9,806	6,167
Current portion of long-term debt	15,362
Total current liabilities	25,427	6,343
Long-term debt	23,656
Due to McKesson	47,172
Deferred income tax liabilities	172,055	159,993
Other liabilities	1,312
Commitments and contingencies (see Note 4)
Stockholders' Equity:
Common Stock	124	75
Preferred stock (par value, $.001), 900,000,000 and 0 shares authorized and no shares issued and outstanding at December 31, 2019 and March 31, 2019, respectively
Additional paid-in capital	2,016,608	1,153,509
Accumulated other comprehensive income (loss)	(3,418)	(3,256)
Retained earnings (deficit)	(63,183)	(17,841)
Total stockholders' equity	1,950,131	1,132,487
Total liabilities and stockholders' equity	2,219,753	1,298,823
Common Class X [Member]
Stockholders' Equity:
Common Stock

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	9,000,000,000	252,800,000
Common Stock, shares issued	125,027,648	75,474,654
Common Stock, shares outstanding	125,027,648	75,474,654
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	900,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Class X [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	1	1
Common Stock, shares issued	0	0
Common Stock, shares outstanding	0	0

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Cumulative effect of accounting change of the Joint Venture | ASU 2017-12 [Member]			$ (490)	$ 490
Balance at Mar. 31, 2018	$ 75	$ 1,139,300	34,661	2,536	$ 1,176,572
Balance, shares at Mar. 31, 2018	75,749,118
Equity compensation expense		5,300			5,300
Repurchase of Change Healthcare Inc. common stock		(4,782)			(4,782)
Repurchase of Change Healthcare Inc. common stock, shares	(251,789)
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards, shares	4,045
Net income (loss)			(17,501)		(17,501)
Foreign currency translation adjustment of the Joint Venture				(2,593)	(2,593)
Changes in fair value of interest rate swap, net of taxes				782	782
Balance at Jun. 30, 2018	$ 75	1,139,818	16,670	1,215	1,157,778
Balance, shares at Jun. 30, 2018	75,501,374
Balance at Mar. 31, 2018	$ 75	1,139,300	34,661	2,536	1,176,572
Balance, shares at Mar. 31, 2018	75,749,118
Net income (loss)					(48,480)
Foreign currency translation adjustment of the Joint Venture					(4,445)
Changes in fair value of interest rate swap, net of taxes					(3,793)
Balance at Dec. 31, 2018	$ 75	1,149,176	(14,309)	(5,702)	1,129,240
Balance, shares at Dec. 31, 2018	75,475,083
Balance at Jun. 30, 2018	$ 75	1,139,818	16,670	1,215	1,157,778
Balance, shares at Jun. 30, 2018	75,501,374
Equity compensation expense		2,969			2,969
Repurchase of Change Healthcare Inc. common stock		(1,720)			(1,720)
Repurchase of Change Healthcare Inc. common stock, shares	(90,629)
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards, shares	35,139
Net income (loss)			(18,591)		(18,591)
Foreign currency translation adjustment of the Joint Venture				566	566
Changes in fair value of interest rate swap, net of taxes				1,478	1,478
Balance at Sep. 30, 2018	$ 75	1,141,067	(1,921)	3,259	1,142,480
Balance, shares at Sep. 30, 2018	75,445,885
Equity compensation expense		8,109			8,109
Repurchase of Change Healthcare Inc. common stock
Repurchase of Change Healthcare Inc. common stock, shares
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards, shares	29,198
Proceeds from exercise of Change Healthcare Inc. equity based awards
Net income (loss)			(12,388)		(12,388)
Foreign currency translation adjustment of the Joint Venture				(2,418)	(2,418)
Changes in fair value of interest rate swap, net of taxes				(6,543)	(6,543)
Balance at Dec. 31, 2018	$ 75	1,149,176	(14,309)	(5,702)	1,129,240
Balance, shares at Dec. 31, 2018	75,475,083
Cumulative effect of accounting change of the Joint Venture | ASC 606 [Member]			35,797		35,797
Cumulative effect of accounting change of the Joint Venture | ASU 2018-02 [Member]			(422)	422
Balance at Mar. 31, 2019	$ 75	1,153,509	(17,841)	(3,256)	1,132,487
Balance, shares at Mar. 31, 2019	75,474,654
Equity compensation expense		5,862			5,862
Net income (loss)			(37,517)		(37,517)
Foreign currency translation adjustment of the Joint Venture				226	226
Changes in fair value of interest rate swap, net of taxes				(5,431)	(5,431)
Balance at Jun. 30, 2019	$ 75	1,159,371	(19,983)	(8,039)	1,131,424
Balance, shares at Jun. 30, 2019	75,474,654
Balance at Mar. 31, 2019	$ 75	1,153,509	(17,841)	(3,256)	1,132,487
Balance, shares at Mar. 31, 2019	75,474,654
Net income (loss)					(80,716)
Unrealized gain (loss) on available for sale debt securities of the Joint Venture					1,307
Foreign currency translation adjustment of the Joint Venture					3,537
Changes in fair value of interest rate swap, net of taxes					(5,428)
Balance at Dec. 31, 2019	$ 124	2,016,608	(63,183)	(3,418)	1,950,131
Balance, shares at Dec. 31, 2019	125,027,648
Balance at Jun. 30, 2019	$ 75	1,159,371	(19,983)	(8,039)	1,131,424
Balance, shares at Jun. 30, 2019	75,474,654
Issuance of Change Healthcare Inc. common stock upon initial public offering	$ 49	608,630			608,679
Issuance of Change Healthcare Inc. common stock upon initial public offering, shares	49,285,713
Effect of initial public offering issuance costs on Joint Venture equity		(4,160)			(4,160)
Issuance of tangible equity units		232,929			232,929
Equity compensation expense		8,585			8,585
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards		1,139			1,139
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards, shares	175,439
Net income (loss)			(93,935)		(93,935)
Unrealized gain (loss) on available for sale debt securities of the Joint Venture				1,173	1,173
Foreign currency translation adjustment of the Joint Venture				1,583	1,583
Changes in fair value of interest rate swap, net of taxes				(1,310)	(1,310)
Balance at Sep. 30, 2019	$ 124	2,006,494	(113,918)	(6,593)	1,886,107
Balance, shares at Sep. 30, 2019	124,935,806
Equity compensation expense		9,148			9,148
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards		966			966
Issuance of Change Healthcare Inc. common stock upon exercise of equity awards, shares	91,842
Net income (loss)			50,735		50,735
Unrealized gain (loss) on available for sale debt securities of the Joint Venture				134	134
Foreign currency translation adjustment of the Joint Venture				1,728	1,728
Changes in fair value of interest rate swap, net of taxes				1,313	1,313
Balance at Dec. 31, 2019	$ 124	$ 2,016,608	$ (63,183)	$ (3,418)	$ 1,950,131
Balance, shares at Dec. 31, 2019	125,027,648

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 50,735	$ (12,388)	$ (80,716)	$ (48,480)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss from Equity Method Investment in the Joint Venture	8,764	17,468	104,497	65,805
Deferred income tax expense (benefit)			(564)	(16,664)
(Gain) Loss on Sale of Interests in the Joint Venture				(661)
(Gain) loss on forward purchase contracts			(71,649)
Amortization of debt discount and issuance costs	191		403
Other			1,526
Changes in operating assets and liabilities:
Prepaid expenses			(1,544)
Due from the Joint Venture			(3,056)	(188)
Due from McKesson			(213)
Income taxes receivable			422	13,292
Accounts payable and accrued expenses			83	189
Due to McKesson			47,172
Due to the Joint Venture			3,639	(9,662)
Net cash provided by (used in) operating activities				3,631
Cash flows from investing activities:
Proceeds from sale of interests in Joint Venture				6,502
Investment in debt and equity securities of the Joint Venture			(278,875)
Proceeds from investments in debt securities of the Joint Venture			7,332
Investment in the Joint Venture			(610,784)
Net cash provided by (used in) investing activities			(882,327)	6,502
Cash flows from financing activities:
Proceeds from initial public offering, net of issuance costs			608,679
Proceeds from issuance of equity component of tangible equity units, net of issuance costs			232,929
Proceeds from issuance of debt component of tangible equity units			47,367
Payment of loan costs			(1,421)
Repayment of senior amortizing notes			(7,332)
Proceeds from exercise of equity awards			2,105
Payments to acquire common stock				(6,502)
Net cash provided by (used in) financing activities			882,327	(6,502)
Net increase (decrease) in cash, cash equivalents and restricted cash				3,631
Cash, cash equivalents and restricted cash at beginning of period			3,409
Cash, cash equivalents and restricted cash at end of period	$ 3,409	$ 3,631	$ 3,409	$ 3,631

Nature of Business and Organiza

Nature of Business and Organization	9 Months Ended
	Dec. 31, 2019
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of Business and Organization Organization Change Healthcare Inc. (the “Company”), a Delaware corporation, was formed on June 22, 2016 to hold an equity investment in Change Healthcare LLC (the “Joint Venture”), a joint venture between the Company and McKesson Corporation (“McKesson”). As of December 31, 2019, the Company and McKesson each owned approximately 41% and 59% , respectively, of the membership interest in the Joint Venture, subject to adjustment based on exercise of equity-based awards or other changes in the number of the Joint Venture’s membership units outstanding. The Transactions In June 2016, the Company, the Joint Venture, Change Healthcare Holdings, LLC, Change Healthcare Intermediate Holdings, LLC, Change Healthcare Performance, Inc. (“Legacy CHC”) and its stockholders—including affiliates of The Blackstone Group, Inc. (formerly known as the Blackstone Group L.P.) (“Blackstone”) and Hellman & Friedman LLC entered into an Agreement of Contribution and Sale (the “Contribution Agreement”) with McKesson (together with the Company, the “Members”). Under the terms of the Contribution Agreement, the parties agreed to form the Joint Venture, a joint venture that combined the majority of the McKesson Technology Solutions businesses, excluding McKesson’s Enterprise Information Solutions business and RelayHealth Pharmacy Network (such contributed businesses, “Core MTS”), with substantially all of the assets and operations of Legacy CHC, but excluding Legacy CHC’s pharmacy claims switching and prescription routing businesses (such excluded business, the “eRx Network” and the businesses contributed by Legacy CHC, together with Core MTS, the “Contributed Businesses”). The creation of the Joint Venture, including the contribution of the Contributed Businesses and related transactions, is collectively referred to as the “Transactions”. The Transactions closed on March 1, 2017. Amendment of Certificate of Incorporation Effective June 26, 2019 and in contemplation of its initial public offering of common stock, the Company amended its certificate of incorporation to effect a 126.4 for 1 stock split for all previously issued shares of common stock, to increase the authorized number of common stock, and to authorize shares of preferred stock. Following this amendment, the authorized shares include 9,000,000,000 shares of common stock (par value $.001 per share), 1 share of Class X stock (par value $.001 per share), and 900,000,000 shares of preferred stock (par value $.001 per share). All issued or outstanding shares or related share-based payment arrangement disclosures included herein have been retrospectively adjusted for the stock split. Initial Public Offering Effective July 1, 2019, the Company completed its initial public offering of 49,285,713 shares of common stock and a concurrent offering of 5,750,000 of tangible equity units (“TEUs”) for net proceeds of $608,679 and $278,875 , respectively . The proceeds of the offering of common stock were subsequently contributed to the Joint Venture in exchange for 49,285,713 additional units of the Joint Venture, which together with the Company’s existing holdings represents an approximately 41% interest in the Joint Venture. The proceeds of the offering of TEUs were used to acquire TEUs of the Joint Venture that substantially mirror the terms of the TEUs included in the offering. The Joint Venture, in turn, used the proceeds received from the Company to repay $805,000 of its indebtedness under the Term Loan Facility without penalty in July 2019.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Dec. 31, 2019
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of Presentation Principles of Consolidation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) Guidelines, Rules and Regulations and, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of results for the unaudited interim periods presented. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted. The results of operations for the interim period are not necessarily indicative of the results to be obtained for the full fiscal year. All intercompany accounts and transactions have been eliminated in the unaudited condensed financial statements. Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates on historical experience, current business factors and various other assumptions that the Company believes are necessary to consider in order to form a basis for making judgments about the carrying values of assets and liabilities, the recorded amounts of expenses and disclosure of contingent assets and liabilities. The Company is subject to uncertainties such as the impact of future events, economic, environmental and political factors and changes in the Company’s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company’s financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the reported results of operations; and if material, the effects of changes in estimates are disclosed in the notes to the financial statements. Estimates and assumptions by management affect: the carrying value of the Company’s investments; the provision and benefit for income taxes and related deferred tax accounts; contingencies; and the value attributed to equity awards. Additionally, the Company’s financial statements are impacted by estimates and assumptions made by management that affect the financial statements of the Joint Venture, including: the allowance for doubtful accounts; the fair value assigned to assets acquired and liabilities assumed in business combinations; tax receivable agreement obligations; the fair value of interest rate cap agreement obligations; measurement of the components of tangible equity units; contingent consideration; loss accruals; the carrying value of long-lived assets (including goodwill and intangible assets); the classification and measurement of assets held for sale; the amortization period of long-lived assets (excluding goodwill); the carrying value, capitalization and amortization of software development costs; the provision and benefit for income taxes and related deferred tax accounts; certain accrued expenses; revenue recognition; contingencies; and the value attributed to equity awards. Tangible Equity Units In connection with the initial public offering, the Company completed an offering of tangible equity units (TEUs). Each TEU comprises an amortizing note and purchase contract, both of which are freestanding instruments and separate units of account. The amortizing notes were issued at par and are classified as debt on the accompanying condensed consolidated balance sheet, with scheduled principal payments over the next twelve months reflected in current maturities of long-term debt. The purchase contracts are accounted for as prepaid forward contracts and classified as equity. The TEU proceeds and issuance costs were allocated to the amortizing notes and purchase contracts on a relative fair value basis. See Note 10 for further discussion. Other Investments The Company holds investments in tangible equity units issued by the Joint Venture with terms that substantially mirror the TEUs issued by the Company. Each TEU comprises an amortizing note and forward purchase contract, both of which are freestanding instruments and separate units of account. The Company accounts for its investment in each component at fair value. Unrealized gains and losses resulting from changes in the fair value of the investment in debt securities are included as a component of other comprehensive income. Unrealized gains and losses resulting from changes in the fair value of the investment in the equity purchase contracts are recorded in current period earnings, in accordance with ASU 2016-01. See Note 11 for further discussion. Recently Adopted Accounting Pronouncements In April 2019, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2018-07 on a modified retrospective basis, which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Among other provisions, the measurement date for awards to nonemployees was changed from the earlier of the date at which a commitment for performance by the counterparty was reached or the date at which performance was complete under the previous guidance to the grant date under this update. Because the Company’s equity-based compensation was previously subject to remeasurement at fair value each quarter under previous authoritative literature, the adoption of this update had no material direct effect on the Company’s consolidated financial statements. As described in Note 7, however, the adoption of this update changed the relationship between the equity-based compensation and the accounting for the freestanding option (i.e. the Dividend receivable). In April 2019, the Joint Venture adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers , which replaces most prior general and industry specific revenue recognition guidance with a principles-based comprehensive revenue recognition framework on a modified retrospective basis. Under this revised framework, a company will recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. As the Company’s operations consist principally of an investment in the Joint Venture, its financial statements reflect no revenue and, accordingly, the Company recognized no direct impact on its financial statements from the adoption of this update. However, upon adoption, the Joint Venture recognized a cumulative effect adjustment to its Members’ deficit. As a result of the impact of the adoption of ASC 606 to the Joint Venture’s Members’ equity ( deficit ) , the Company was required to recognize a proportionate amount of this cumulative effect adjustment to its April 1, 2019 retained earnings as well. The effect is disclosed within a separate caption of the accompanying condensed statement of stockholders’ equity. Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, as amended by ASU No. 2018-19, which requires that a financial asset (or group of financial assets) measured at amortized cost be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. This update is scheduled to be effective for the Company beginning April 1, 2021, with early adoption permitted beginning April 1, 2019. The Company is currently assessing the potential effects this update may have on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, which modifies the disclosure requirements for fair value measurements. ASU 2018-13 is effective for public companies for annual and interim periods beginning after December 15, 2019. Early adoption is permitted for either the entire standard or only the provisions that eliminate or modify requirements. The Company is currently assessing the potential effects this update may have on its financial statement disclosures. 

Equity Method Investment in Cha

Equity Method Investment in Change Healthcare LLC	9 Months Ended
	Dec. 31, 2019
Equity Method Investment in Change Healthcare LLC [Abstract]
Equity Method Investment in Change Healthcare LLC	3. Equity Method Investment in Change Healthcare LLC Exchange of Equity Method Investments In connection with the Transactions, the Company exchanged its 45.615% investment in Legacy CHC for 30% of the membership units of the Joint Venture. The Joint Venture used proceeds from the issuance of debt to acquire the remaining 54.385% of Legacy CHC. The Company accounted for this exchange of investments as a non-monetary transaction at their respective carrying values. Prior to the Transactions, the investors of Legacy CHC accounted for their investments at fair value. As a result, the book basis and fair value of the Company’s investment in Legacy CHC were generally the same such that no gain was recognized as a result of the Transactions. The fair value of the Joint Venture was determined at March 1, 2017 using a combination of the income and the market valuation approaches. Under the income approach, a discounted cash flow model (“DCF”) was used in which cash flows anticipated over several periods, plus a terminal value at the end of that time horizon, are discounted to their present value using an appropriate expected rate of return. The discount rate used for cash flows reflects capital market conditions and the specific risks associated with the business. Under the market approach, valuation multiples of reasonably similar publicly traded companies or guideline companies are applied to the operating data of the subject business to derive the estimated fair value. These valuation approaches are considered a Level 3 fair value measurement. Fair value determination requires complex assumptions and judgment by management in projecting future operating results, selecting guideline companies for comparisons, determining appropriate market value multiples, selecting the discount rate to measure the risks inherent in the future cash flows and assessing the business’s life cycle and the competitive trends impacting the business, including considering technical, legal, regulatory, or economic barriers to entry. Any material changes in key assumptions, including failure to meet business plans, deterioration in the financial market, an increase in interest rate or an increase in the cost of equity financing by market participants within the industry or other unanticipated events and circumstances, may affect such estimates. Additional Ownership Interest Following the initial public offering, the Company contributed the proceeds of the offering of common stock to the Joint Venture in exchange for 49,285,713 additional units of the Joint Venture, which represented approximately 11% of additional ownership interest. As a result of the additional ownership interest acquired, the Company measured additional basis differences at July 1, 2019 based on the fair value of the Joint Venture’s assets and liabilities as of the date of the initial public offering, and using valuation approaches substantially similar to those used as of the date of the Transactions. Equity Method Investment in Change Healthcare LLC The Company accounts for its investment in the Joint Venture using the equity method of accounting. During the three and nine months ended December 31, 2019 and 2018 , the Company recorded a proportionate share of the earnings from this investment based on its ownership percentage during each respective period, which included transaction and integration related expenses incurred by the Joint Venture and the Company’s portion of basis adjustments including amortization expenses associated with equity method intangible assets. These amounts are aggregated and recorded under the caption, “Loss from Equity Method Investment in the Joint Venture” in the accompanying condensed statements of operations. Summarized financial information of the Joint Venture is as follows:           Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Statement of Operations Data:  Total revenue $ 808,226 $ 821,937 $ 2,459,593 $ 2,445,390  Cost of operations (exclusive of depreciation and amortization) $ 339,413 $ 339,485 $ 998,943 $ 1,007,328  Customer postage $ 55,693 $ 58,788 $ 171,288 $ 180,706  Net income (loss) $ 31,191 $ 13,009 $ 102,973 $ 138,955   Subsequent to the Company’s initial public offering of common stock, the Company now has a publicly available indication of the value of its investment in the Joint Venture. Accordingly, the Company evaluated its equity method investment for an other-than-temporary impairment (“OTTI”). The Company considered various factors in determining whether an OTTI has occurred, including the Company’s ability and intent to hold the investment, the trading history available, the implied EBITDA valuation multiples compared to public guideline companies, the Joint Venture’s ability to achieve milestones and any notable operational and strategic changes by the Joint Venture. After the evaluation, the Company determined that an OTTI had not occurred as of December 31, 2019 nor as of the date of this quarterly report on Form 10-Q. However, the Company may experience declines in the fair value of its investment in the Joint Venture, and it may determine an impairment loss will be required to be recognized in a future reporting period. Such determination will be based on the prevailing facts and circumstances, including those related to the reported results and disclosures of the Joint Venture as well as from changes in the market price of the Company’s common stock. In the event the Company obtains a controlling interest in the Joint Venture, the Company will evaluate its investment under the guidance in ASC 805 for a business combination achieved in stages. Upon such a change in control, the Company will remeasure its investment in the Joint Venture to fair value as of the date that control is obtained and will recognize a gain or loss in its statement of operations for the difference between the carrying value and fair value of its investment. During the three months ended September 30, 2019 , the Joint Venture committed to a plan to sell its Alpharetta, GA office property in an effort to reduce its real estate footprint. T he Joint Venture completed the sale of the property during its fiscal third quarter and recognized an immaterial gain on sale. As a result of the completion of the sale, the Company recognized a write-off of approximately $13,900 of basis differences associated with the office property within its Loss from Equity Method Investment in the Joint Venture for the three and nine months ended December 31, 2019.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Dec. 31, 2019
Legal Proceedings [Abstract]
Legal Proceedings	4. Legal Proceedings In the ordinary course of business, the Company may become subject to various claims and legal proceedings. The Company is not currently a defendant in any pending litigation.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Dec. 31, 2019
Net Income (Loss) Per Share [Abstract]
Net Income (Loss) Per Share	  5. Net Income (Loss) Per Share The following table sets forth the computation of basic net income (loss) per share of common stock for the periods indicated:       Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Basic net income (loss) per share:  Numerator:  Net income (loss) $ 50,735 $ (12,388) $ (80,716) $ (48,480)  Denominator:  Weighted average common shares outstanding 124,962,970 75,465,310 108,371,642 75,525,645  Minimum shares issuable under purchase contracts 18,429,325 — 12,286,217 —  143,392,295 75,465,310 120,657,859 75,525,645  Basic net income (loss) per share $ 0.35 $ (0.16) $ (0.67) $ (0.64)   Diluted net income per share:  Numerator:  Net income (loss) $ 50,735 $ (12,388) $ (80,716) $ (48,480)   Denominator:  Number of shares used in basic computation 143,392,295 75,465,310 120,657,859 75,525,645  Weighted average effect of dilutive securities  Add:  Dilutive shares issuable under purchase contracts 1,450,910 — — —  Time-Vesting Options 1,059,868 — — —  Deferred Stock Units 9,250 — — —  Restricted Share Units 289,537 — — —  146,201,860 75,465,310 120,657,859 75,525,645  Diluted net income (loss) per share $ 0.35 $ (0.16) $ (0.67) $ (0.64)  Due to their antidilutive effect, the following securities have been excluded from diluted net income (loss) per share for the periods indicated:         Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Incremental shares issuable under purchase contracts — — 1,712,220 —  Time-Vesting Options — 1,858,331 1,290,327 1,846,029  Deferred Stock Units — — 6,167 —  Restricted Stock Units — — 605,830 — 

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Income Taxes	6. Income Taxes Income tax expense for the three months ended December 31, 2019 was $15,240 , compared to an income tax benefit of $5,080 for the three months ended December 31, 2018, which represents an effective tax rate of 23.1% and 29.1% , respectively. The income tax benefit for the nine months ended December 31, 2019 and 2018 was $564 and $16,664 , respectively, which represents an effective tax rate o f 0.7% and 25.6% , respectively. Fluctuations in our reported income tax rates from the statutory rate are primarily due to benefits recognized as a result of certain incentive tax credits resulting from research and experimental expenditures and discrete items recognized in the quarters.  McKesson Tax Receivable Agreement In connection with the closing of the Transactions, the Joint Venture, subsidiaries of McKesson that serve as members of the Joint Venture ( the “ McK Members ”) , McKesson and the Company entered into a tax receivable agreement (the “McKesson Tax Receivable Agreement”). The McKesson Tax Receivable Agreement generally provides for the payment by the Joint Venture to the McK Members and it assigns 85% of the net cash tax savings realized (or, in certain circumstances, deemed to be realized) by the Company in periods ending on or after the date on which McKesson ceases to own at least 20% of the outstanding units of the Joint Venture (the “ LLC Units ”) as a result of (i) certain amortizable tax basis in assets transferred to the Joint Venture at the closing of the Transactions and (ii) imputed interest deductions and certain other tax attributes arising from payments under the McKesson Tax Receivable Agreement. Additionally, upon the occurrence of the first exchange of LLC Units by McKesson (or its permitted transferees), if any, the Company has agreed to enter into an additional tax receivable agreement with the McK Members, pursuant to which the Company would be required to pay to the relevant McK Member 85% of the net cash tax savings, if any, arising from the Company’s utilization of (i) certain tax basis increases resulting from the relevant exchange and payments under such additional tax receivable agreement and (ii) imputed interest deductions. The Company may also be required to enter into and make payments under an additional tax receivable agreement with McKesson in certain circumstances. Because payments under the McKesson Tax Receivable Agreement are contingent upon McKesson’s ceasing to own at least 20% of the Joint Venture and such an event was not probable at the inception of the McKesson Tax Receivable Agreement or as of December 31, 2019 , no related obligation has been reflected on the accompanying condensed balance sheet.  Letter Agreement The Company, the Joint Venture, McKesson and certain of McKesson’s affiliates have entered into a letter agreement relating to the Contribution Agreement (the “Letter Agreement”). The Letter Agreement addresses miscellaneous tax-related matters, including (i) technical clarifications and modifications to the manner in which the Joint Venture allocates certain items of taxable income, loss and deduction among, and calculates and makes required tax distributions to, its members, (ii) the sharing of certain contingent tax benefits and expenses not addressed by the McKesson Tax Receivable Agreement or the tax matters agreement that the Company will enter into with McKesson in connection with a spin-off or split-off transaction (or a combination of the foregoing) that McKesson may, at its election, initiate and complete that would result, among other things, in the acquisition by the Company of all of McKesson’s LLC Units and the issuance by the Company to McKesson and/or McKesson’s securityholders of an equal number of shares of its common stock and (iii) procedures applicable in the case of certain tax proceedings. In particular, pursuant to the terms of the Letter Agreement, McKesson may adjust the manner in which depreciation or amortization deductions in respect of assets transferred to the Joint Venture at the closing of the Transactions are allocated among the Company, McKesson and certain of McKesson’s affiliates beyond minimum amounts provided in the LLC Agreement. If an amount of deductions is allocated to the Company in excess of a specified minimum threshold, the Company will be required to make cash payments to McKesson equal to 100% of the tax savings of the Company attributable to such excess deductions for any tax period ending prior to the date on which McKesson ceases to own at least 20% of the outstanding LLC Units of the Joint Venture, after which the terms of the McKesson Tax Receivable Agreement will control. At Decemb er 3 1 , 2019 , the Company has recorded a liability to McKesson equal to $47,172 , which reflects the amount payable for future tax savings the Company anticipates receiving as a result of deductions which were allocated by McKesson to the Company for the year ended March 31, 2019 and is reflected as Due to McKesson on the consolidated balance sheet . 

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements	7. Fair Value Measurements  The Company’s assets and liabilities that are measured at fair value on a recurring basis consist of the Company’s Dividend Receivable and Other Investments. The debt component of the tangible equity units issued by the Company is a Level 2 liability measured at fair value on a nonrecurring basis based on available market data and a discounted cash flow analysis (see Note 10). The tables below summarize the Dividend Receivable and Other Investments as of Dec ember 3 1 , 2019 and March 31, 2019, aggregated by the level in the fair value hierarchy within which those measurements fall.      Quoted in Significant  Balance at Markets Significant Other Unobservable  December 31, Identical Observable Inputs Inputs  Description 2019 (Level 1) (Level 2) (Level 3)  Other Investments (see Note 11) $ 344,943 $ — $ 344,943 $ —  Dividend Receivable 68,344 — — 68,344  Total $ 413,287 $ — $ 344,943 $ 68,344     Quoted in Significant  Balance at Markets Significant Other Unobservable  March 31, Identical Observable Inputs Inputs  Description 2019 (Level 1) (Level 2) (Level 3)  Other Investments (see Note 11) $ — $ — $ — $ —  Dividend Receivable 81,264 — — 81,264  Total $ 81,264 $ — $ — $ 81,264  Other Investments The Company invested in a unit purchase contract and a debt instrument of the Joint Venture on terms that substantially mirror the economics of the TEUs (see Note 10). At Dec ember 3 1 , 2019 and March 31, 2019, the Company’s investment in the Joint Venture’s debt securities were classified as “available-for-sale ” and its investment in the Joint Venture’s purchase contracts were accounted for as equity securities measured at fair value. Changes in unrealized gains and losses for the Company’s investment in the Joint Venture’s debt securities are recognized as adjustments to other comprehensive income (loss) while changes in unrealized gains and losses for the Company’s investment in the Joint Venture’s purchase contracts are recognized as adjustments to pretax income (loss). The fair value measurement of the investments is based on available market data of the Joint Venture’s debt and equity securities for which the Company is investin g. The following table presents a reconciliation of the activity related to the other investments for the nine months ended December 31, 2019:    Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Balance at beginning of period $ 274,391 $ — $ — $ —  Initial investment — 278,875 —  Proceeds from investment in securities of the Joint Venture (3,712) — (7,332) —  Change in fair value 74,264 — 73,400 —  Balance at end of period $ 344,943 $ — $ 344,943 $ —    Dividend Receivable The Company is entitled to receive an additional unit of the Joint Venture for each share of stock issued by the Company. In the case of equity-based awards, the requirement to receive an additional unit of the Joint Venture upon exercise of such awards represents a freestanding derivative. Because the fair value measurement of this derivative involves significant unobservable inputs, the most significant of which is the use of a levered volatility calculation of a peer group of companies , the Company has determined that it represents a Level 3 fair value measurement. Because the freestanding derivative is directly related to the Company’s equity-based compensation awards, the valuation of the derivative is determined to be consistent with the valuation of the underlying equity-based awards (although we use a current period measurement date). As with the equity-based awards, changes in the value of the derivative are generally expected to fluctuate with changes in the value of the Company’s common stock. The following table summarizes the fair value of the freestanding derivative at December 31, 2019 and March 31, 2019 , respectively:      Fair Values of Derivative Financial Instruments  Asset (Liability)  Derivative financial instruments not designated as hedging instruments: Balance Sheet Location December 31, 2019 March 31, 2019    Freestanding Option Dividend receivable $ 68,344 $ 81,264  $ 68,344 $ 81,264 The following table presents a reconciliation of the fair value of the derivative for which the Company uses significant unobservable inputs:      Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Balance at beginning of period $ 34,547 $ 66,641 $ 81,264 $ 59,116  Increase in fair value based on ASC 505 equity-based compensation — 8,109 — 16,378  Settlements due to exercise of awards (346) (553) (1,670) (1,297)  Change in fair value of equity-based awards 34,143 — (11,250) —  Balance at end of period $ 68,344 $ 74,197 $ 68,344 $ 74,197    As the dividend receivable was initially received in connection with the contribution of assets to the Joint Venture, the initial fair value was treated as a component of the Company ’ s contribution of assets and receipt of its Investment in the Joint Venture. During the three and nine months ended December 31, 2019 and 2018 , the Company recognized changes in the balance of the Dividend Receivable as a component of Loss from Equity Method Investment in the Joint Venture. The result was that no net equity-based compensation related to employees of the Joint Venture was recognized in the financial statements of the Company for the three and nine months ended December 31, 2019 and 2018 .  Following the adoption of FASB ASU No. 2018-07, however, the measurement of equity-based compensation generally becomes fixed at the date of grant such that the fair value of the dividend receivable is no longer correlated with the amount of equity compensation recognized. As a result, following the adoption of FASB ASU No. 2018-07, the Loss from Equity Method Investment in the Joint Venture is subject to variability associated with changes in the fair value of the equity-based awards.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	8. Accumulated Other Comprehensive Income (Loss) The following is a summary of the Company’s proportionate share of the Joint Venture’s accumulated other comprehensive income (loss) balances, net of taxes, as of and for the three and nine months ended December 31, 2019 and 2018 .     Foreign Accumulated  Available Currency Other  For Sale Translation Cash Flow Comprehensive  Debt Security Adjustment Hedge Income (Loss)   Balance at March 31, 2018 $ — $ 1,268 $ 1,268 $ 2,536  Cumulative effect of accounting change of the Joint Venture-ASU 2017-12 — — 490 490  Change associated with foreign currency translation — (2,593) — (2,593)  Change associated with current period hedging — — 1,206 1,206  Reclassification into earnings — — (424) (424)  Balance at June 30, 2018 $ — $ (1,325) $ 2,540 $ 1,215   Change associated with foreign currency translation — 566 — 566  Change associated with current period hedging — — 1,866 1,866  Reclassification into earnings — — (388) (388)  Balance at September 30, 2018 $ — $ (759) $ 4,018 $ 3,259   Change associated with foreign currency translation — (2,418) — (2,418)  Change associated with current period hedging — (6,168) (6,168)  Reclassification into earnings — — (375) (375)  Balance at December 31, 2018 $ — $ (3,177) $ (2,525) $ (5,702)    Balance at March 31, 2019 $ — $ (1,565) $ (1,691) $ (3,256)  Cumulative effect of accounting change of the Joint Venture-ASU 2018-02 — — 422 422  Change associated with foreign currency translation — 226 — 226  Change associated with current period hedging — — (5,117) (5,117)  Reclassification into earnings — — (314) (314)  Balance at June 30, 2019 $ — $ (1,339) $ (6,700) $ (8,039)  Unrealized gain (loss) on available for sale debt securities of the Joint Venture 1,173 — — 1,173  Change associated with foreign currency translation — 1,583 — 1,583  Change associated with current period hedging — — (1,509) (1,509)  Reclassification into earnings — — 199 199  Balance at September 30, 2019 $ 1,173 $ 244 $ (8,010) $ (6,593)  Unrealized gain (loss) on available for sale debt securities of the Joint Venture 134 134  Change associated with foreign currency translation — 1,728 — 1,728  Change associated with current period hedging — — 289 289  Reclassification into earnings — — 1,024 1,024  Balance at December 31, 2019 $ 1,307 1,972 $ (6,697) $ (3,418)     Effective April 1, 2018, the Joint Venture adopted FASB ASU No. 2017-12, which significantly changed the framework by which hedge accounting is recognized, presented and disclosed in the Joint Venture’s financial statements. The adoption of this update by the Joint Venture resulted in a reclassification between its accumulated other comprehensive income (loss) and accumulated earnings (deficit). Effective April 1, 2019, the Joint Venture adopted FASB ASU No. 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. The adoption of this update resulted in a reclassification between accumulative other comprehensive income (loss) and accumulated earnings (deficit). As an investor in the Joint Venture, the Company has recognized its proportionate amount of these reclassifications as presented in the table above.

Equity Based Compensation

Equity Based Compensation	9 Months Ended
	Dec. 31, 2019
Equity Based Compensation [Abstract]
Equity Based Compensation	9. Equity Based Compensation Effective as of the Company’s initial public offering, the Company adopted the Change Healthcare Inc. 2019 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) pursuant to which 25.0 million shares of the Company’s common stock have been reserved for issuance to employees, directors and consultants of the Company, the Joint Venture and its affiliates. In connection with the Omnibus Incentive Plan, the Company, during the nine months ended December 31, 2019, granted to the Joint Venture’s employees and directors one or a combination of time-vesting restricted stock units (RSUs), time-vesting deferred stock units, performance stock units, and cash settled restricted stock units under vesting terms that generally vary from one to four years from the date of grant. Each of these instruments is described below. Restricted Stock Units (“RSU s ” )—The Company granted 4,436,758 RSUs during the nine months ended December 31, 2019. The RSUs are subject to either a graded vesting schedule over four years, or a one or four year cliff vesting schedule, depending on the terms of the specific award. Upon vesting, the RSUs are exchanged for shares of the Company’s common stock. Performance Stock Units (“PSU s ” )— The Company granted 1,079,621 PSUs during the nine months ended December 31, 2019. The PSUs consist of two tranches, one for which the quantity of awards expected to vest varies based on the Joint Venture’s compound annual revenue growth rate over a three year period in comparison to a target percentage and one for which the quantity of awards expected to vest varies based on the Joint Venture’s compound annual Adjusted EBITDA growth rate over a three year period in comparison to a target percentage. The awards earned upon satisfaction of the performance conditions become vested on the fourth anniversary of the vesting commencement date of the award (i.e. continued service is required beyond the satisfaction of the performance condition prior to vesting). The Joint Venture recognizes compensation expense for the PSUs based on the number of awards that are considered probable to vest. Recognition of expense is based on the probability of achievement of performance targets and is periodically reevaluated. Cash Settled Restricted Stock Units (“CSRSU s ” )— The Company granted 597,006 CSRSUs during the nine months ended December 31, 2019.The CSRSUs are expected to vest ratably over three years. Upon vesting, however, the Company is required to pay cash in settlement of such CSRSUs based on their fair value at the date such CSRSUs vest. The Company will be reimbursed by the Joint Venture for any cash settlements, and as of December 31, 2019, the Company has a receivable from the Joint Venture of approximately $1,312 . Deferred Stock Units (“DSU s ”)— The Company granted 45,704 DSUs during the nine months ended December 31, 2019. The DSUs vest 100% upon the one -year anniversary of the date of grant. Unlike the RSUs, however, the DSUs are exchanged for shares of the Company’s common stock only following the participant’s separation from service. During the three and nine months ended December 31, 2019 the Joint Venture recognized compensation expense related to awards granted under the Omnibus Incentive Plan of $6,161 and $12,257 , respectively. At December 31, 2019, aggregate unrecognized compensation expense of the Joint Venture related to awards granted under the Omnibus Incentive Plan was $78,788 .  

Tangible Equity Units

Tangible Equity Units	9 Months Ended
	Dec. 31, 2019
Tangible Equity Units [Abstract]
Tangible Equity Units	10. Tangible Equity Units In July 2019, the Company completed its offering of 5,750,000 TEUs. Total proceeds, net of underwriting discounts, were $278,875 . Each TEU, which has a stated amount of $50 , is comprised of a stock purchase contract and a senior amortizing note due June 30, 2022 . The Company allocated the proceeds from the issuance of the TEUs to equity and debt based on the relative fair values of the respective components of each TEU. The value allocated to the stock purchase contracts is reflected net of issuance costs in additional paid in capital. The value allocated to the senior amortizing notes is reflected in debt on the accompanying balance sheet, with payments expected in the next twelve months reflected in current maturities of long-term debt. Issuance costs, reflected as a reduction of the face amount of the amortizing notes, are being accreted to the face amount of the debt under the effective interest method. The aggregate values assigned upon issuance of the TEUs, based on the relative fair value of the respective components of each TEU, were as follows:     Equity Component Debt Component Total  Price per TEU $ 41.7622 $ 8.2378 $ 50.00  Gross proceeds 240,133 47,367 287,500  Issuance costs (7,204) (1,421) (8,625)  Net proceeds $ 232,929 $ 45,946 $ 278,875  Each senior amortizing note has an initial principal amount of $8.2378 and bears interest at 5.5% per year. On each March 30, June 30, September 30 and December 30, the Company pays equal quarterly cash installments of $0.7500 per amortizing note (except for the September 30, 2019 installment payment, which was $0.7417 per amortizing note). Each installment constitutes a payment of interest and partial payment of principal. The carrying value and fair value of the senior amortizing notes as of December 31, 2019 was $38,626 and $40,365 , respectively. Unless settled earlier, each purchase contract will automatically settle on June 30, 2022 . The Company will deliver between a minimum of 18,429,325 shares and a maximum of 22,115,075 shares of the Company’s common stock, subject to adjustment, based on the Applicable Market Value (as defined below) of the Company’s common stock as described below: · If the Applicable Market Value is greater than $15.60 per share, holders will receive 3.2051 shares of common stock per purchase contract. · If the Applicable Market Value is less than or equal to $15.60 per share but greater than or equal to $13.00 per share, the holder will receive a number of shares of the Company’s common stock per purchase contract equal to $50 , divided by the Applicable Market Value; and · If the Applicable Market Value is less than $13.00 per share, the holder will receive 3.8461 shares of common stock per purchase contract. The Applicable Market Value is defined as the arithmetic average of the volume weighted average price per share of the Company’s common stock over the twenty consecutive trading day period immediately preceding the balance sheet date, or June 30, 2022 , for settlement of the stock purchase contracts. The TEUs have a dilutive effect on the Company’s net income (loss) per share. The 18,429,325 minimum shares to be issued are included in the calculation of basic net income (loss) per share. The difference between the minimum shares and the maximum shares are potentially dilutive securities, and accordingly, are included in the Company’s diluted net income (loss) per share on a pro rata basis to the extent the Applicable Market Value is higher than $13.00 but is less than $15.60 at period end.

Other Investments

Other Investments	9 Months Ended
	Dec. 31, 2019
Other Investments [Abstract]
Other Investments	11. Other Investments The proceeds of the offering of TEUs were used to acquire TEUs of the Joint Venture that substantially mirror the terms of the TEUs included in the offering. Under these mirrored arrangements, the Joint Venture is required to make cash payments or to transfer LLC Units to the Company concurrent with any cash payments or issuance of shares by the Company pursuant to the terms of its TEUs. The Company accounts for these mirror arrangements as investments in debt and equity securities. At December 31, 2019 and March 31, 2019 , the Company’s investment in debt securities are classified as “available-for-sale” and its investment in forward purchase contracts are considered equity securities measured at fair value. Changes in unrealized gains and losses for the Company’s debt securities are recognized as adjustments to other comprehensive income (loss) while changes in unrealized gains and losses for the Company’s investment in forward purchase contracts are recognized as adjustments to pretax income (loss).  A summary of the Company’s other investments at December 31, 2019 and March 31, 2019 is summarized in the tables that follow.     December 31, 2019   Unrealized Amounts  Amortized Costs Gains Losses Fair Value  Debt Securities (Level 2) $ 38,614 $ 1,751 $ — $ 40,365  Forward Purchase Contracts (Level 2) $ 232,929 $ 71,649 $ — 304,578  $ 344,943  Amounts classified within current assets 15,362  Amounts classified within Other investments $ 329,581      March 31, 2019   Unrealized Amounts  Amortized Costs Gains Losses Fair Value  Debt Securities $ — $ — $ — $ —  Forward Purchase Contracts $ — $ — $ — —  —  Amounts classified within current assets —  Amounts classified within Other investments $ — Scheduled maturities of investments in debt securities at December 31, 2019 were as follows:    Amortized Cost Fair Value   Due in one year or less $ 15,362 $ 15,362  Due after one year through five years 23,252 25,003  Due after five years through ten years — —  Due after ten years — —  $ 38,614 $ 40,365  The portion of unrealized gains and losses for each period related to equity securities still held at each reporting date is calculated as follows:        Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Net gains and losses recognized during the period on equity securities $ 74,084 $ — $ 71,649 $ —  Less: Net gains and losses recognized during the period on equity securities sold during the period — — — —  Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ 74,084 $ — $ 71,649 $ —   

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events  Qualified McKesson Exit  On February 10, 2020, McKesson announced the commencement of an exchange offer relating to the Company’s common stock. As part of the exchange offer, McKesson shareholders have the opportunity to exchange some or all of their shares of McKesson common stock for shares of common stock of McKesson’s wholly-owned subsidiary, PF2 SpinCo, Inc. (“SpinCo”), which will hold all of McKesson’s interest in the Joint Venture. Upon completion of a merger of SpinCo with and into the Company, the shares of common stock of SpinCo will be immediately converted into an equal number of shares of the Company’s common stock. The Company has filed a registration statement on Form S-4 with the Securities and Exchange Commission in connection with the exchange offer and the merger with SpinCo.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Dec. 31, 2019
Basis of Presentation [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) Guidelines, Rules and Regulations and, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of results for the unaudited interim periods presented. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted. The results of operations for the interim period are not necessarily indicative of the results to be obtained for the full fiscal year. All intercompany accounts and transactions have been eliminated in the unaudited condensed financial statements.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates on historical experience, current business factors and various other assumptions that the Company believes are necessary to consider in order to form a basis for making judgments about the carrying values of assets and liabilities, the recorded amounts of expenses and disclosure of contingent assets and liabilities. The Company is subject to uncertainties such as the impact of future events, economic, environmental and political factors and changes in the Company’s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company’s financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the reported results of operations; and if material, the effects of changes in estimates are disclosed in the notes to the financial statements. Estimates and assumptions by management affect: the carrying value of the Company’s investments; the provision and benefit for income taxes and related deferred tax accounts; contingencies; and the value attributed to equity awards. Additionally, the Company’s financial statements are impacted by estimates and assumptions made by management that affect the financial statements of the Joint Venture, including: the allowance for doubtful accounts; the fair value assigned to assets acquired and liabilities assumed in business combinations; tax receivable agreement obligations; the fair value of interest rate cap agreement obligations; measurement of the components of tangible equity units; contingent consideration; loss accruals; the carrying value of long-lived assets (including goodwill and intangible assets); the classification and measurement of assets held for sale; the amortization period of long-lived assets (excluding goodwill); the carrying value, capitalization and amortization of software development costs; the provision and benefit for income taxes and related deferred tax accounts; certain accrued expenses; revenue recognition; contingencies; and the value attributed to equity awards.
Tangible Equity Units	Tangible Equity Units In connection with the initial public offering, the Company completed an offering of tangible equity units (TEUs). Each TEU comprises an amortizing note and purchase contract, both of which are freestanding instruments and separate units of account. The amortizing notes were issued at par and are classified as debt on the accompanying condensed consolidated balance sheet, with scheduled principal payments over the next twelve months reflected in current maturities of long-term debt. The purchase contracts are accounted for as prepaid forward contracts and classified as equity. The TEU proceeds and issuance costs were allocated to the amortizing notes and purchase contracts on a relative fair value basis. See Note 10 for further discussion.
Other Investments	Other Investments The Company holds investments in tangible equity units issued by the Joint Venture with terms that substantially mirror the TEUs issued by the Company. Each TEU comprises an amortizing note and forward purchase contract, both of which are freestanding instruments and separate units of account. The Company accounts for its investment in each component at fair value. Unrealized gains and losses resulting from changes in the fair value of the investment in debt securities are included as a component of other comprehensive income. Unrealized gains and losses resulting from changes in the fair value of the investment in the equity purchase contracts are recorded in current period earnings, in accordance with ASU 2016-01. See Note 11 for further discussion.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In April 2019, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2018-07 on a modified retrospective basis, which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Among other provisions, the measurement date for awards to nonemployees was changed from the earlier of the date at which a commitment for performance by the counterparty was reached or the date at which performance was complete under the previous guidance to the grant date under this update. Because the Company’s equity-based compensation was previously subject to remeasurement at fair value each quarter under previous authoritative literature, the adoption of this update had no material direct effect on the Company’s consolidated financial statements. As described in Note 7, however, the adoption of this update changed the relationship between the equity-based compensation and the accounting for the freestanding option (i.e. the Dividend receivable). In April 2019, the Joint Venture adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers , which replaces most prior general and industry specific revenue recognition guidance with a principles-based comprehensive revenue recognition framework on a modified retrospective basis. Under this revised framework, a company will recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. As the Company’s operations consist principally of an investment in the Joint Venture, its financial statements reflect no revenue and, accordingly, the Company recognized no direct impact on its financial statements from the adoption of this update. However, upon adoption, the Joint Venture recognized a cumulative effect adjustment to its Members’ deficit. As a result of the impact of the adoption of ASC 606 to the Joint Venture’s Members’ equity ( deficit ) , the Company was required to recognize a proportionate amount of this cumulative effect adjustment to its April 1, 2019 retained earnings as well. The effect is disclosed within a separate caption of the accompanying condensed statement of stockholders’ equity. Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, as amended by ASU No. 2018-19, which requires that a financial asset (or group of financial assets) measured at amortized cost be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. This update is scheduled to be effective for the Company beginning April 1, 2021, with early adoption permitted beginning April 1, 2019. The Company is currently assessing the potential effects this update may have on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, which modifies the disclosure requirements for fair value measurements. ASU 2018-13 is effective for public companies for annual and interim periods beginning after December 15, 2019. Early adoption is permitted for either the entire standard or only the provisions that eliminate or modify requirements. The Company is currently assessing the potential effects this update may have on its financial statement disclosures.

Equity Method Investment in C_2

Equity Method Investment in Change Healthcare LLC (Tables)	9 Months Ended
	Dec. 31, 2019
Equity Method Investment in Change Healthcare LLC [Abstract]
Summarized Financial Information of the Joint Venture	   Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Statement of Operations Data:  Total revenue $ 808,226 $ 821,937 $ 2,459,593 $ 2,445,390  Cost of operations (exclusive of depreciation and amortization) $ 339,413 $ 339,485 $ 998,943 $ 1,007,328  Customer postage $ 55,693 $ 58,788 $ 171,288 $ 180,706  Net income (loss) $ 31,191 $ 13,009 $ 102,973 $ 138,955  

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Dec. 31, 2019
Net Income (Loss) Per Share [Abstract]
Computation of Basic Net Income (Loss) Per Share of Common Stock	   Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Basic net income (loss) per share:  Numerator:  Net income (loss) $ 50,735 $ (12,388) $ (80,716) $ (48,480)  Denominator:  Weighted average common shares outstanding 124,962,970 75,465,310 108,371,642 75,525,645  Minimum shares issuable under purchase contracts 18,429,325 — 12,286,217 —  143,392,295 75,465,310 120,657,859 75,525,645  Basic net income (loss) per share $ 0.35 $ (0.16) $ (0.67) $ (0.64)   Diluted net income per share:  Numerator:  Net income (loss) $ 50,735 $ (12,388) $ (80,716) $ (48,480)   Denominator:  Number of shares used in basic computation 143,392,295 75,465,310 120,657,859 75,525,645  Weighted average effect of dilutive securities  Add:  Dilutive shares issuable under purchase contracts 1,450,910 — — —  Time-Vesting Options 1,059,868 — — —  Deferred Stock Units 9,250 — — —  Restricted Share Units 289,537 — — —  146,201,860 75,465,310 120,657,859 75,525,645  Diluted net income (loss) per share $ 0.35 $ (0.16) $ (0.67) $ (0.64)  
Antidilutive Securities Excluded from Diluted Net Income (Loss) Per Share	   Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Incremental shares issuable under purchase contracts — — 1,712,220 —  Time-Vesting Options — 1,858,331 1,290,327 1,846,029  Deferred Stock Units — — 6,167 —  Restricted Stock Units — — 605,830 — 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value Measurements [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	   Quoted in Significant  Balance at Markets Significant Other Unobservable  December 31, Identical Observable Inputs Inputs  Description 2019 (Level 1) (Level 2) (Level 3)  Other Investments (see Note 11) $ 344,943 $ — $ 344,943 $ —  Dividend Receivable 68,344 — — 68,344  Total $ 413,287 $ — $ 344,943 $ 68,344     Quoted in Significant  Balance at Markets Significant Other Unobservable  March 31, Identical Observable Inputs Inputs  Description 2019 (Level 1) (Level 2) (Level 3)  Other Investments (see Note 11) $ — $ — $ — $ —  Dividend Receivable 81,264 — — 81,264  Total $ 81,264 $ — $ — $ 81,264 
Reconciliatoin of Activity Related to Other Investments	  Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Balance at beginning of period $ 274,391 $ — $ — $ —  Initial investment — 278,875 —  Proceeds from investment in securities of the Joint Venture (3,712) — (7,332) —  Change in fair value 74,264 — 73,400 —  Balance at end of period $ 344,943 $ — $ 344,943 $ — 
Summary of Fair Value of Freestanding Derivative	   Fair Values of Derivative Financial Instruments  Asset (Liability)  Derivative financial instruments not designated as hedging instruments: Balance Sheet Location December 31, 2019 March 31, 2019    Freestanding Option Dividend receivable $ 68,344 $ 81,264  $ 68,344 $ 81,264 
Reconciliation of Fair Value Derivative Using Unobservable Inputs	    Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Balance at beginning of period $ 34,547 $ 66,641 $ 81,264 $ 59,116  Increase in fair value based on ASC 505 equity-based compensation — 8,109 — 16,378  Settlements due to exercise of awards (346) (553) (1,670) (1,297)  Change in fair value of equity-based awards 34,143 — (11,250) —  Balance at end of period $ 68,344 $ 74,197 $ 68,344 $ 74,197 

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Abstract]
Summary of Accumulated Other Comprehensive Income (Loss)	   Foreign Accumulated  Available Currency Other  For Sale Translation Cash Flow Comprehensive  Debt Security Adjustment Hedge Income (Loss)   Balance at March 31, 2018 $ — $ 1,268 $ 1,268 $ 2,536  Cumulative effect of accounting change of the Joint Venture-ASU 2017-12 — — 490 490  Change associated with foreign currency translation — (2,593) — (2,593)  Change associated with current period hedging — — 1,206 1,206  Reclassification into earnings — — (424) (424)  Balance at June 30, 2018 $ — $ (1,325) $ 2,540 $ 1,215   Change associated with foreign currency translation — 566 — 566  Change associated with current period hedging — — 1,866 1,866  Reclassification into earnings — — (388) (388)  Balance at September 30, 2018 $ — $ (759) $ 4,018 $ 3,259   Change associated with foreign currency translation — (2,418) — (2,418)  Change associated with current period hedging — (6,168) (6,168)  Reclassification into earnings — — (375) (375)  Balance at December 31, 2018 $ — $ (3,177) $ (2,525) $ (5,702)    Balance at March 31, 2019 $ — $ (1,565) $ (1,691) $ (3,256)  Cumulative effect of accounting change of the Joint Venture-ASU 2018-02 — — 422 422  Change associated with foreign currency translation — 226 — 226  Change associated with current period hedging — — (5,117) (5,117)  Reclassification into earnings — — (314) (314)  Balance at June 30, 2019 $ — $ (1,339) $ (6,700) $ (8,039)  Unrealized gain (loss) on available for sale debt securities of the Joint Venture 1,173 — — 1,173  Change associated with foreign currency translation — 1,583 — 1,583  Change associated with current period hedging — — (1,509) (1,509)  Reclassification into earnings — — 199 199  Balance at September 30, 2019 $ 1,173 $ 244 $ (8,010) $ (6,593)  Unrealized gain (loss) on available for sale debt securities of the Joint Venture 134 134  Change associated with foreign currency translation — 1,728 — 1,728  Change associated with current period hedging — — 289 289  Reclassification into earnings — — 1,024 1,024  Balance at December 31, 2019 $ 1,307 1,972 $ (6,697) $ (3,418)  

Tangible Equity Units (Tables)

Tangible Equity Units (Tables)	9 Months Ended
	Dec. 31, 2019
Tangible Equity Units [Abstract]
Schedule of Aggregate Values Assigned upon Issuance of Tangible Equity Units	  Equity Component Debt Component Total  Price per TEU $ 41.7622 $ 8.2378 $ 50.00  Gross proceeds 240,133 47,367 287,500  Issuance costs (7,204) (1,421) (8,625)  Net proceeds $ 232,929 $ 45,946 $ 278,875  

Other Investments (Tables)

Other Investments (Tables)	9 Months Ended
	Dec. 31, 2019
Other Investments [Abstract]
Summary of Other Invesments	  December 31, 2019   Unrealized Amounts  Amortized Costs Gains Losses Fair Value  Debt Securities (Level 2) $ 38,614 $ 1,751 $ — $ 40,365  Forward Purchase Contracts (Level 2) $ 232,929 $ 71,649 $ — 304,578  $ 344,943  Amounts classified within current assets 15,362  Amounts classified within Other investments $ 329,581      March 31, 2019   Unrealized Amounts  Amortized Costs Gains Losses Fair Value  Debt Securities $ — $ — $ — $ —  Forward Purchase Contracts $ — $ — $ — —  —  Amounts classified within current assets —  Amounts classified within Other investments $ — 
Schedule of Maturities of Investments in Debt Securities	  Amortized Cost Fair Value   Due in one year or less $ 15,362 $ 15,362  Due after one year through five years 23,252 25,003  Due after five years through ten years — —  Due after ten years — —  $ 38,614 $ 40,365  
Schedule of Unrealized Gains and Losses Related to Equity Securities	   Three Months Ended Nine Months Ended  December 31, December 31,  2019 2018 2019 2018  Net gains and losses recognized during the period on equity securities $ 74,084 $ — $ 71,649 $ —  Less: Net gains and losses recognized during the period on equity securities sold during the period — — — —  Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ 74,084 $ — $ 71,649 $ —  

Nature of Business and Organi_2

Nature of Business and Organization (Narrative) (Details) $ / shares in Units, $ in Thousands	Jul. 01, 2019USD ($)shares	Jun. 26, 2019$ / sharesshares	Jul. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2019$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership percentage in Joint Venture	41.00%			41.00%
Stock split conversion ratio		126.4
Common Stock, shares authorized		9,000,000,000		9,000,000,000	252,800,000
Common Stock, par value | $ / shares		$ 0.001		$ 0.001	$ 0.001
Preferred stock, shares authorized		900,000,000		900,000,000	0
Preferred stock, par value | $ / shares		$ 0.001		$ 0.001	$ 0.001
Share offering	49,285,713
Tangible equity unit offering	5,750,000
Proceeds from initial public offering | $	$ 608,679			$ 608,679
Proceeds from tangible equity units | $	$ 278,875		$ 278,875	$ 278,875
Shares received from Joint Venture	49,285,713
McKesson Corporation [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership percentage in Joint Venture				59.00%
Common Class X [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Common Stock, shares authorized		1		1	1
Common Stock, par value | $ / shares		$ 0.001		$ 0.001	$ 0.001
Tangible Equity Units [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Tangible equity unit offering			5,750,000
Joint Venture [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Repayment of debt | $			$ 805,000

Equity Method Investment in C_3

Equity Method Investment in Change Healthcare LLC (Narrative) (Details) - USD ($) $ in Thousands	Jul. 01, 2019	Dec. 31, 2019	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Ownership percentage acquired in exchange		30.00%	30.00%
Ownership percentage in Joint Venture	41.00%		41.00%
Shares received from Joint Venture	49,285,713
Additional ownership percentage acquired	11.00%
Write-off of basis differences within Loss from Equity Method Investment in the Joint Venture		$ 13,900	$ 13,900
Legacy CHC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage investment exchanged for membership interest in Joint Venture			45.615%
Joint Venture [Member] | Legacy CHC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in Joint Venture			54.385%

Equity Method Investment in C_4

Equity Method Investment in Change Healthcare LLC (Summarized Financial Information of the Joint Venture) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investment in Change Healthcare LLC [Abstract]
Total revenue	$ 808,226	$ 821,937	$ 2,459,593	$ 2,445,390
Cost of operations (exclusive of depreciation and amortization)	339,413	339,485	998,943	1,007,328
Customer postage	55,693	58,788	171,288	180,706
Net income (loss)	$ 31,191	$ 13,009	$ 102,973	$ 138,955

Net Income (Loss) Per Share (Co

Net Income (Loss) Per Share (Computation of Basic Net Income (Loss) Per Share of Common Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Line Items]
Net income (loss)	$ 50,735	$ (93,935)	$ (37,517)	$ (12,388)	$ (18,591)	$ (17,501)	$ (80,716)	$ (48,480)
Weighted average common shares outstanding	124,962,970			75,465,310			108,371,642	75,525,645
Minimum shares issuable under purchase contracts	18,429,325						12,286,217
Weighted average common shares outstanding including incremental common shares	143,392,295			75,465,310			120,657,859	75,525,645
Basic net income (loss) per share	$ 0.35			$ (0.16)			$ (0.67)	$ (0.64)
Dilutive shares issuable under purchase contracts	1,450,910
Weighted average common shares outstanding, diluted	146,201,860			75,465,310			120,657,859	75,525,645
Diluted net income (loss) per share	$ 0.35			$ (0.16)			$ (0.67)	$ (0.64)
Time-Vesting Options [Member]
Earnings Per Share [Line Items]
Share-based payment arrangements	1,059,868
Deferred Stock Units [Member]
Earnings Per Share [Line Items]
Share-based payment arrangements	9,250
Restricted Stock Units (RSUs) [Member]
Earnings Per Share [Line Items]
Share-based payment arrangements	289,537

Net Income (Loss) Per Share (An

Net Income (Loss) Per Share (Antidilutive Securities Excluded from Diluted Net Income (Loss) Per Share) (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Purchase Contracts [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted net income (loss) per share			1,712,220
Time-Vesting Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted net income (loss) per share		1,858,331	1,290,327	1,846,029
Deferred Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted net income (loss) per share			6,167
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted net income (loss) per share			605,830

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Income tax expense (benefit)	$ 15,240,000	$ (5,080,000)	$ (564,000)	$ (16,664,000)
Effective income tax rate	23.10%	29.10%	0.70%	25.60%
Tax receivable agreement, percentage of net cash saving realized assigned			85.00%
Tax receivable agreement, minimum percentage of the Joint Venture outstanding units required to be owned			20.00%
Additional tax receivable agreement, percentage net cash tax savings Company required to pay arising from certain tax basis increases and imputed interest deductions			85.00%
Net cash tax savings, obligation	$ 0		$ 0
Letter agreement, percentage of tax savings required to pay if amount of deductions allocated to Company are in excess of specified minimum threshold			100.00%
Due to McKesson	$ 47,172,000		$ 47,172,000

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	$ 413,287	$ 81,264
Quoted in Markets Identical (Level 1)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)
Significant Other Observable Inputs (Level 2)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	344,943
Significant Unobservable Inputs (Level 3)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	68,344	81,264
Other Investments [Member]
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	344,943
Other Investments [Member] | Quoted in Markets Identical (Level 1)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)
Other Investments [Member] | Significant Other Observable Inputs (Level 2)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	344,943
Other Investments [Member] | Significant Unobservable Inputs (Level 3)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)
Dividend Receivable [Member]
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	68,344	81,264
Dividend Receivable [Member] | Quoted in Markets Identical (Level 1)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)
Dividend Receivable [Member] | Significant Other Observable Inputs (Level 2)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)
Dividend Receivable [Member] | Significant Unobservable Inputs (Level 3)
Derivatives Fair Value [Line Items]
Fair value, asset (liability)	$ 68,344	$ 81,264

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliatoin of Activity Related to Other Investments) (Details) - Other Investments [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 274,391
Initial investment			278,875
Proceeds from investment in securities of the Joint Venture	(3,712)		(7,332)
Change in fair value	74,264		73,400
Balance at end of period	$ 344,943		$ 344,943

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Fair Value of Freestanding Derivative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Derivatives Fair Value [Line Items]
Fair Values of Derivative Financial Instruments Asset (Liability)	$ 68,344	$ 81,264
Not Designated as Hedging Instrument [Member] | Dividend Receivable [Member]
Derivatives Fair Value [Line Items]
Fair Values of Derivative Financial Instruments Asset (Liability)	$ 68,344	$ 81,264

Fair Value Measurements (Reco_2

Fair Value Measurements (Reconciliation of Fair Value Derivative Using Unobservable Inputs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurements [Abstract]
Balance at beginning of period	$ 34,547	$ 66,641	$ 81,264	$ 59,116
Increase in fair value based on ASC 505 equity-based compensation		8,109		16,378
Settlements due to exercise of awards	(346)	(553)	(1,670)	(1,297)
Change in fair value of equity-based awards	34,143		(11,250)
Balance at end of period	$ 68,344	$ 74,197	$ 68,344	$ 74,197

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Summary Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	$ 1,886,107	$ 1,131,424	$ 1,132,487	$ 1,142,480	$ 1,157,778	$ 1,176,572	$ 1,132,487	$ 1,176,572
Unrealized gain (loss) on available for sale debt securities of the Joint Venture, net of taxes	134	1,173					1,307
Change associated with foreign currency translation	1,728	1,583	226	(2,418)	566	(2,593)	3,537	(4,445)
Balance	1,950,131	1,886,107	1,131,424	1,129,240	1,142,480	1,157,778	1,950,131	1,129,240
Available For Sale Debtr Security [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	1,173
Unrealized gain (loss) on available for sale debt securities of the Joint Venture, net of taxes	134	1,173
Balance	1,307	1,173					1,307
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	244	(1,339)	(1,565)	(759)	(1,325)	1,268	(1,565)	1,268
Change associated with foreign currency translation	1,728	1,583	226	(2,418)	566	(2,593)
Balance	1,972	244	(1,339)	(3,177)	(759)	(1,325)	1,972	(3,177)
Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(8,010)	(6,700)	(1,691)	4,018	2,540	1,268	(1,691)	1,268
Change associated with current period hedging	289	(1,509)	(5,117)	(6,168)	1,866	1,206
Reclassification into earnings	1,024	199	(314)	(375)	(388)	(424)
Balance	(6,697)	(8,010)	(6,700)	(2,525)	4,018	2,540	(6,697)	(2,525)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(6,593)	(8,039)	(3,256)	3,259	1,215	2,536	(3,256)	2,536
Unrealized gain (loss) on available for sale debt securities of the Joint Venture, net of taxes	134	1,173
Change associated with foreign currency translation	1,728	1,583	226	(2,418)	566	(2,593)
Change associated with current period hedging	289	(1,509)	(5,117)	(6,168)	1,866	1,206
Reclassification into earnings	1,024	199	(314)	(375)	(388)	(424)
Balance	$ (3,418)	$ (6,593)	$ (8,039)	$ (5,702)	$ 3,259	$ 1,215	$ (3,418)	$ (5,702)
ASU 2017-12 [Member] | Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative effect of accounting change of the Joint Venture										$ 490
ASU 2017-12 [Member] | Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative effect of accounting change of the Joint Venture										$ 490
ASU 2018-02 [Member] | Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative effect of accounting change of the Joint Venture									$ 422
ASU 2018-02 [Member] | Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative effect of accounting change of the Joint Venture									$ 422

Equity Based Compensation (Narr

Equity Based Compensation (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)itemshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Receivable due from Joint Venture for cash settlement of CSRSUs | $	$ 1,312	$ 1,312
Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance	25,000,000	25,000,000
Restricted Stock Units (RSUs) [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period		4,436,758
Restricted Stock Units (RSUs) [Member] | Omnibus Incentive Plan [Member] | Graded Vesting Schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Restricted Stock Units (RSUs) [Member] | Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Tranche One [Member] | Cliff Vesting Schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Restricted Stock Units (RSUs) [Member] | Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Cliff Vesting Schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Performance Stock Units PSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period		1,079,621
Performance Stock Units PSU [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches | item		2
Performance Stock Units PSU [Member] | Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches based on Joint Venture compound annual revenue growth rate | item		1
Period of calculation for compound annual revenue growth rate		3 years
Performance Stock Units PSU [Member] | Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches based on Joint Venture compound annual adjusted EBITDA growth rate | item		1
Period of calculation for compound annual adjusted EBITDA growth rate		3 years
Cash Settled Restricted Stock Units CSRSU [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Granted in period		597,006
Deferred Stock Units DSU [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Granted in period		45,704
Vesting percentage		100.00%
Joint Venture [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $	$ 6,161	$ 12,257
Unrecognized compensation expense | $	$ 78,788	$ 78,788
Minimum [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Maximum [Member] | Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years

Tangible Equity Units (Narrativ

Tangible Equity Units (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 01, 2019	Jul. 31, 2019	Dec. 31, 2019
Tangible Equity Units [Line Items]
Tangible equity unit offering	5,750,000
Total proceeds, net of issuance costs	$ 278,875	$ 278,875	$ 278,875
TEU price per share		$ 50	$ 50
Initial principal amount			$ 8.2378
Share offering	49,285,713
Settlement date			Jun. 30, 2022
Senior Amortizing Note [Member]
Tangible Equity Units [Line Items]
Maturity date			Jun. 30, 2022
Initial principal amount			$ 8.2378
Stated interest rate			5.50%
Carrying value			$ 38,626
Fair value			$ 40,365
Minimum [Member]
Tangible Equity Units [Line Items]
Share offering			18,429,325
Share price			$ 13
Maximum [Member]
Tangible Equity Units [Line Items]
Share offering			22,115,075
Share price			$ 15.60
March 30 [Member] | Senior Amortizing Note [Member]
Tangible Equity Units [Line Items]
Cash installment			0.7500
June 30 [Member] | Senior Amortizing Note [Member]
Tangible Equity Units [Line Items]
Cash installment			0.7500
September 30 [Member] | Senior Amortizing Note [Member]
Tangible Equity Units [Line Items]
Cash installment			0.7417
December 30 [Member] | Senior Amortizing Note [Member]
Tangible Equity Units [Line Items]
Cash installment			0.7500
Applicable Market Value is greater than $15.60 per share [Member]
Tangible Equity Units [Line Items]
Share price			15.60
Conversion to shares			3.2051
Applicable Market Value is less than or equal to $15.60 per share but greater than or equal to $13.00 per share [Member]
Tangible Equity Units [Line Items]
TEU price per share			50
Applicable Market Value is less than or equal to $15.60 per share but greater than or equal to $13.00 per share [Member] | Minimum [Member]
Tangible Equity Units [Line Items]
Share price			13
Applicable Market Value is less than or equal to $15.60 per share but greater than or equal to $13.00 per share [Member] | Maximum [Member]
Tangible Equity Units [Line Items]
Share price			15.60
Applicable Market Value is less than $13.00 per share [Member]
Tangible Equity Units [Line Items]
Share price			13
Conversion to shares			$ 3.8461
Tangible Equity Units [Member]
Tangible Equity Units [Line Items]
Tangible equity unit offering		5,750,000

Tangible Equity Units (Schedule

Tangible Equity Units (Schedule of Aggregate Values Assigned upon Issuance of Tangible Equity Units) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 01, 2019	Jul. 31, 2019	Dec. 31, 2019
Tangible Equity Units [Abstract]
Equity Component, Price per TEU			$ 41.7622
Equity Component, Gross proceeds			$ 240,133
Equity Component, Issuance costs			(7,204)
Equity Component, Net proceeds			$ 232,929
Debt Component, Price per TEU			$ 8.2378
Debt Component, Gross proceeds			$ 47,367
Debt Component, Issuance costs			(1,421)
Debt Component, Net proceeds			$ 45,946
Total, Price per TEU		$ 50	$ 50
Total, Gross proceeds			$ 287,500
Total, Issuance costs			(8,625)
Total, Net proceeds	$ 278,875	$ 278,875	$ 278,875

Other Investments (Summary of O

Other Investments (Summary of Other Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Amortized Costs
Debt Securities, Unrealized Gains
Debt Securities, Unrealized Losses
Debt Securities, Fair Value
Forward Purchase Contracts, Amortized Costs
Forward Purchase Contracts, Unrealized Gains
Forward Purchase Contracts, Unrealized Losses
Forward Purchase Contracts, Fair Value
Fair Value	$ 344,943
Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value	15,362
Other Investments [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value	329,581
Significant Other Observable Inputs (Level 2)
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Amortized Costs	38,614
Debt Securities, Unrealized Gains	1,751
Debt Securities, Unrealized Losses
Debt Securities, Fair Value	40,365
Forward Purchase Contracts, Amortized Costs	232,929
Forward Purchase Contracts, Unrealized Gains	71,649
Forward Purchase Contracts, Unrealized Losses
Forward Purchase Contracts, Fair Value	$ 304,578

Other Investments (Schedule of

Other Investments (Schedule of Maturities of Investments in Debt Securities) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Other Investments [Abstract]
Amortized Cost, Due in one year or less	$ 15,362
Amortized Cost, Due after one year through five years	23,252
Amortized Cost, Due after five years through ten years
Amortized Cost, Due after ten years
Amortized Cost	38,614
Fair Value, Due in one year or less	15,362
Fair Value, Due after one year through five years	25,003
Fair Value, Due after five years through ten years
Fair Value, Due after ten years
Fair Value	$ 40,365

Other Investments (Schedule o_2

Other Investments (Schedule of Unrealized Gains and Losses Related to Equity Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Other Investments [Abstract]
Net gains and losses recognized during the period on equity securities	$ 74,084		$ 71,649
Less: Net gains and losses recognized during the period on equity securities sold during the period
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 74,084		$ 71,649