File No. 001-13252
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended March 31, 2017
OR
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ________ to ________
A. Full title of the plan and address of the plan, if different from that of the issuer named below:
McKesson Corporation Profit-Sharing Investment Plan
B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
McKesson Corporation
McKesson Plaza
One Post Street, San Francisco, CA 94104
Telephone (415) 983-8300
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
TABLE OF CONTENTS
Item | Page | |
Financial Statements as of and for the Years Ended March 31, 2017 and 2016: | ||
Supplemental Schedule as of March 31, 2017: | ||
EXHIBITS:
23.1 Consent of Independent Registered Public Accounting Firm
All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, have been omitted because they are not applicable.
2
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Participants of the
McKesson Corporation Profit-Sharing Investment Plan:
We have audited the accompanying statements of net assets available for benefits of McKesson Corporation Profit-Sharing Investment Plan (the “Plan”) as of March 31, 2017 and 2016, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of March 31, 2017 and 2016, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.
The supplemental schedule of assets (held at end of year) as of March 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including the form and content, is presented in compliance with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, such schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Deloitte & Touche LLP
San Francisco, California
September 25, 2017
3
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(In thousands)
March 31, | |||||||||||||||||||||||
2017 | 2016 | ||||||||||||||||||||||
Participant- Directed | Non-Participant Directed | Plan Total | Participant- Directed | Non-Participant Directed | Plan Total | ||||||||||||||||||
ASSETS | |||||||||||||||||||||||
Investments at Fair Value: | |||||||||||||||||||||||
Fidelity BrokerageLink | $ | 228,027 | $ | — | $ | 228,027 | $ | 209,617 | $ | — | $ | 209,617 | |||||||||||
Common/collective trusts | 2,045,527 | — | 2,045,527 | 1,821,287 | — | 1,821,287 | |||||||||||||||||
Separately managed accounts | 746,736 | — | 746,736 | 655,386 | — | 655,386 | |||||||||||||||||
McKesson Corp. common stock: | |||||||||||||||||||||||
Employer Stock Fund | — | 401,910 | 401,910 | — | 502,073 | 502,073 | |||||||||||||||||
Employee Stock Fund | 163,344 | — | 163,344 | 193,551 | — | 193,551 | |||||||||||||||||
Investments at Contract Value: | |||||||||||||||||||||||
BNY Mellon Stable Value Portfolio | 250,141 | — | 250,141 | 251,884 | — | 251,884 | |||||||||||||||||
Total Investments | 3,433,775 | 401,910 | 3,835,685 | 3,131,725 | 502,073 | 3,633,798 | |||||||||||||||||
Receivables: | |||||||||||||||||||||||
Notes receivable from participants | 43,919 | — | 43,919 | 46,629 | — | 46,629 | |||||||||||||||||
Employer contributions | 5,760 | — | 5,760 | 5,830 | — | 5,830 | |||||||||||||||||
Other receivables | — | 129 | 129 | — | 1 | 1 | |||||||||||||||||
Total Receivables | 49,679 | 129 | 49,808 | 52,459 | 1 | 52,460 | |||||||||||||||||
Total Assets | 3,483,454 | 402,039 | 3,885,493 | 3,184,184 | 502,074 | 3,686,258 | |||||||||||||||||
LIABILITIES | |||||||||||||||||||||||
Other accrued liabilities | — | 343 | 343 | — | 70 | 70 | |||||||||||||||||
Total Liabilities | — | 343 | 343 | — | 70 | 70 | |||||||||||||||||
Net Assets Available for Benefits | $ | 3,483,454 | $ | 401,696 | $ | 3,885,150 | $ | 3,184,184 | $ | 502,004 | $ | 3,686,188 |
See Financial Notes
4
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(In thousands)
Years Ended March 31, | |||||||||||||||||||||||
2017 | 2016 | ||||||||||||||||||||||
Participant- Directed | Non-Participant Directed | Plan Total | Participant- Directed | Non-Participant Directed | Plan Total | ||||||||||||||||||
INVESTMENT INCOME/(LOSS) | |||||||||||||||||||||||
Net appreciation/(depreciation) in value of investments | $ | 372,374 | $ | (21,047 | ) | $ | 351,327 | $ | (155,726 | ) | $ | (232,421 | ) | $ | (388,147 | ) | |||||||
Dividends and interest | 20,637 | 3,267 | 23,904 | 22,882 | 3,658 | 26,540 | |||||||||||||||||
Total Investment Income/(Loss) | 393,011 | (17,780 | ) | 375,231 | (132,844 | ) | (228,763 | ) | (361,607 | ) | |||||||||||||
CONTRIBUTIONS | |||||||||||||||||||||||
Participants | 178,908 | — | 178,908 | 188,395 | — | 188,395 | |||||||||||||||||
Employer | 79,036 | — | 79,036 | 81,626 | — | 81,626 | |||||||||||||||||
Total Contributions | 257,944 | — | 257,944 | 270,021 | — | 270,021 | |||||||||||||||||
DEDUCTIONS | |||||||||||||||||||||||
Benefits paid to participants | 400,165 | 48,192 | 448,357 | 347,479 | 70,266 | 417,745 | |||||||||||||||||
Administrative expenses | 1,686 | 160 | 1,846 | 1,865 | 262 | 2,127 | |||||||||||||||||
Total Deductions | 401,851 | 48,352 | 450,203 | 349,344 | 70,528 | 419,872 | |||||||||||||||||
Increase/(Decrease) in Net Assets Before Transfers and Mergers | 249,104 | (66,132 | ) | 182,972 | (212,167 | ) | (299,291 | ) | (511,458 | ) | |||||||||||||
Transfers to participant-directed investments | 34,176 | (34,176 | ) | — | 37,499 | (37,499 | ) | — | |||||||||||||||
Merger of net assets from other plans | 15,990 | — | 15,990 | — | — | — | |||||||||||||||||
Increase/(Decrease) in Net Assets | 299,270 | (100,308 | ) | 198,962 | (174,668 | ) | (336,790 | ) | (511,458 | ) | |||||||||||||
Net Assets Available for Benefits at Beginning of Year | 3,184,184 | 502,004 | 3,686,188 | 3,358,852 | 838,794 | 4,197,646 | |||||||||||||||||
Net Assets Available for Benefits at End of Year | $ | 3,483,454 | $ | 401,696 | $ | 3,885,150 | $ | 3,184,184 | $ | 502,004 | $ | 3,686,188 |
See Financial Notes
5
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES
1. Plan Description
The following description of the McKesson Corporation Profit-Sharing Investment Plan (the “PSIP” or the “Plan”) is provided for general informational purposes only. Participants should refer to the plan document for more complete information. The PSIP is a defined contribution plan covering all persons who have completed two months of service and are regular or part-time employees or are casual or temporary employees who have worked at least 1,000 hours in a 12 month period at McKesson Corporation (the “Company” or “McKesson” or “Plan Sponsor”) or a participating subsidiary, except seasonal and collectively bargained employees (unless the collective bargaining agreement provides for participation). The plan year is April 1 through March 31. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Company controls and manages the operation and administration of the Plan.
Fidelity Management Trust Company (“Fidelity”) is the trustee and record-keeper of the Plan.
The Plan is comprised of participant-directed and non-participant directed investments, as described below:
A. Participant-Directed Investments
Contributions: The Plan qualifies as a safe harbor plan as described in Internal Revenue Code (the “Code”) Sections 401(k) (12) and 401(m) (11). Participants may make pre-tax and/or Roth 401(k) contributions from 1% to 75% of eligible pay, or after-tax contributions from 1% to 25%, limited to $18,000 for calendar years 2017 and 2016. Participants 50 years of age or older may also elect to make additional pre-tax and/or Roth 401(k) catch-up contributions of up to 75% of eligible pay, limited to $6,000 for calendar years 2017 and 2016. Total employer and employee contributions are limited to the lesser of $54,000 for the plan year ended March 31, 3017 and $53,000 for the plan year ended March 31, 2016, or 100% of taxable compensation. Participants may also contribute amounts representing distributions from other eligible retirement plans.
Participant Accounts: Individual accounts are maintained for each plan participant. Each participant’s account is credited with the contributions and an allocation of earnings and charged with withdrawals and an allocation of losses and administrative expenses paid by the Plan. Allocations are based on participant earnings, or account balances, as defined in the plan document. The participant is entitled to a benefit upon separation from employment based upon the vested portion of the participant's account.
Vesting: In general, for the plan years ended March 31, 2017 and 2016, employer contributions were 100% vested immediately. Dividends automatically reinvested in McKesson common stock are also 100% vested at all times. Certain participants from plans that were merged into the Plan may receive employer contributions that maintain their original vesting schedules.
Investment Options: Upon enrollment in the PSIP, a participant may direct contributions in 1% increments to any of the investment options offered under the Plan and change his/her investment options at any time. At March 31, 2017, the Plan allowed participants to direct their accounts into any one or combination of the following investment options:
• | PSIP International Equity Portfolio is comprised of two common/collective trusts: 20% of the portfolio is invested in the Eaton Vance Parametric Emerging Markets Equity Commingled Fund and 80% of the portfolio is invested in the Fidelity Diversified International Commingled Pool. |
• | Fidelity BrokerageLink is an investment option that provides access to a self-directed brokerage account. |
• | PSIP Fixed Income Portfolio is comprised of investments in 3 common/collective trusts. 40% of the portfolio is invested in the Voya Core Plus Trust Fund, 40% of the portfolio is invested in the Loomis Sayles Core Plus Fixed Income Fund, and 20% of the portfolio is invested in the Manulife Asset Management Company Strategic Fixed Income Fund. |
• | SSgA S&P 500 Index Fund is a commingled pool that seeks to provide investment results that correspond to the return of the S&P 500 Index. This is a common/collective trust. |
6
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
• | Vanguard Target Retirement Trusts are 12 commingled pool options designed for investors expecting to retire around the year indicated in each option’s name. The trusts, which are the Plan’s default investment options, are managed to gradually become more conservative over time. These options are common/collective trusts. |
• | Fisher Investments Small Cap Value Portfolio invests primarily in stocks of value companies that are part of the Russell 2000 Value Index. This is a separately managed account. |
• | PSIP Small Cap Growth Portfolio invests primarily in smaller growth-oriented U.S. companies that demonstrate the potential to meet certain strategic growth expectations as established by Weatherbie Capital, LLC, the investment manager. This is a separately managed account. |
• | Dodge & Cox Large Cap Value Portfolio primarily invests in the stock of large companies where the fund manager believes the long-term earnings prospects are not reflected in the current prices. This is a separately managed account. |
• | PSIP Large Cap Growth Portfolio is comprised of two separately managed accounts which invest primarily in the stock of large U.S. companies: 65% of the portfolio is managed by J.P. Morgan Asset Management and 35% is managed by Brown Advisory. |
• | BNY Mellon Stable Value Portfolio (the “Stable Value Portfolio”) invests in fixed income investments, insurance wrap contracts, and guaranteed investment contracts (“GICs”). This is a separately managed account. |
• | McKesson Employee Stock Fund (the “Employee Stock Fund”) primarily represents investments in McKesson's common stock. |
Loans: Participants may apply for one loan from the Plan at a time. The total amount loaned to an individual participant cannot exceed the lowest of: (i) 50% of such participant’s vested account balance, (ii) $50,000 less the participant's highest outstanding loan balance under the PSIP in the 12 months preceding the loan date, or (iii) the value of the participant’s account attributable to pre-tax, Roth, after-tax, catch-up, and rollover contributions. Most loans bear interest at the then current prime rate of interest on the loan date plus 1%. Loan interest rates ranged from 4.25% to 10.50% at March 31, 2017 and 2016, respectively. Generally, loans may be repaid over a period not to exceed five years, except for residential home loans, which may be repaid over a term not to exceed ten years. Certain loans under qualified plans of acquired companies that were merged into the Plan may have longer repayment terms. Principal repayments and interest are paid through payroll deductions. For participants who have been terminated or are on leave and are no longer receiving a paycheck, loan repayments may be made by electronic fund transfer or check. Notes receivable from participants totaled $43,919,000 and $46,629,000 at March 31, 2017 and 2016, respectively.
Payment of Benefits: Participants have the right to receive a full or partial distribution of their vested PSIP account balance at the time of retirement, death, disability, or termination of employment. In general, when requested by a participant, benefit payments are made in a lump sum cash amount, but participants also may elect a distribution in-kind in the form of McKesson common stock and/or in the form of installments. The Plan also provides for in-service withdrawals on account of financial hardship or attainment of age 59½. In-service distributions cannot exceed a participant's vested account balance less applicable tax withholdings and penalties. Former employees may remain participants in the Plan and continue directing their investments without taking a distribution until age 70½.
Transfers from Other Qualified Plans: During the year ended March 31, 2017, $9,223,000 of net assets from the Vantage Oncology LLC 401(k) Plan and $6,767,000 of net assets from the Biologics, Inc. 401(k) Profit Sharing Plan were merged into the Plan effective February 13, 2017 and March 31, 2017, respectively . Vantage Oncology Holdings LLC and Biologics, Inc., the sponsors of the plans, were acquired by McKesson in April 2016. There were no transfers from other qualified plans during the year ended March 31, 2016.
B. Non-Participant Directed Investments
General: The McKesson Employer Stock Fund consists of an Employee Stock Ownership Plan (the “ESOP”) with shares of McKesson common stock that were allocated to participants through employer matching contributions made prior to April 2009 and not yet directed to other investment options by the participants. This fund is classified as “non-participant directed” because only the Company has the ability to direct contributions into this fund. Participants have the ability to transfer contributions from this fund to participant-directed investments, including the Employee Stock Fund. Total transfers to participant-directed investments for the years ended March 31, 2017 and 2016 were $34,176,000 and $37,499,000, respectively. As of March 31, 2017 and 2016, non-participant directed amounts historically reported as cash and cash equivalents have been reclassified and included in the Employer Stock Fund on the statements of net trust assets available for benefits. The amounts reclassified were $2,588,000 and $4,255,000 as of March 31, 2017 and 2016, respectively.
7
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
C. Other
Employer Matching Contributions to Participant Accounts: Each pay period, the Plan provides for Company matching contributions to all participants who make elective deferrals in an amount equal to 100% of the first 3% of pay contributed as elective deferrals to the Plan and 50% of the next 2% of pay contributed as elective deferrals to the Plan. An additional annual matching contribution may be allocated to plan participants at the discretion of the Company. The Plan also provides for a true-up matching employer contribution in an amount equal to the difference between (1) a participant’s matching contributions determined based on the participant’s compensation and eligible contributions for the entire plan year and (2) the amount of the participant’s matching contributions actually contributed to the Plan for the plan year. Employer matching contributions were $79,036,000 and $81,626,000 for the years ended March 31, 2017 and 2016, respectively.
Forfeitures of Unvested Participant Account Balances: A rehired employee who has met certain levels of service prior to termination may be entitled to have previously forfeited amounts in the PSIP reinstated. Each plan year, forfeited amounts are used to reinstate previously forfeited amounts of rehired employees, to pay other plan administrative expenses, or to reduce employer contributions.
Diversification out of McKesson Employer Stock Fund and McKesson Employee Stock Fund: Participants may divest their accounts of McKesson common stock and invest in other investment options at any time without restriction.
Payment of Benefits: Distributions are made only upon a participant’s retirement, death (in which case, payment shall be made to the participant’s beneficiary), or other termination of employment with the Company and its affiliates. Distributions are made in cash, or if a participant elects a distribution in-kind, in the form of Company common stock plus cash for any fractional share.
McKesson Employer Stock Fund: The following table includes information regarding the allocated shares of McKesson common stock, at fair value, held as of March 31 (in thousands):
2017 | 2016 | |||||||||||||||||||
Number of Shares | Cost Basis | Fair Value of Shares | Number of Shares | Cost Basis | Fair Value of Shares | |||||||||||||||
2,693 | $ | 97,772 | $ | 399,322 | 3,166 | $ | 114,910 | $ | 497,818 |
The per share fair value of McKesson common stock at March 31, 2017 and 2016 was $148.26 and $157.25, respectively. The Fair Value of Shares reported above excludes interest bearing cash of $2,588,000 and $4,255,000 as of March 31, 2017 and 2016, respectively.
2. Significant Accounting Policies
Basis of Accounting: The financial statements of the Plan are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Investments held by a defined contribution plan are required to be reported at fair value with the exception of fully benefit-responsive investment contracts, which are required to be reported at contract value. Contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The statements of net assets available for benefits present fully benefit-responsive investment contracts at contract value and all other investments at fair value.
Use of Estimates: The preparation of financial statements in conformity with GAAP requires plan management to make estimates and assumptions that affect the reported amount of net assets available for benefits and changes therein. Actual results could differ from those estimates.
Risks and Uncertainties: The Plan maintains various investment options including mutual funds, Fidelity BrokerageLink, common/collective trusts, separately managed accounts, the Employer Stock Fund, and the Employee Stock Fund. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
8
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
Investment Valuation and Income Recognition: The Plan’s investments are stated at fair value or net asset value (“NAV”) as a practical expedient for fair value except for the BNY Mellon Stable Value Portfolio, which is stated at contract value. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Investments in mutual funds are stated at quoted market prices, which represent the NAV of shares held by the Plan at year-end. Investments entered into through Fidelity BrokerageLink are primarily stated at quoted market prices. Investments in common/collective trusts are stated at NAV. Investments in separately managed accounts are valued based on the underlying net assets, which are actively traded and primarily valued using quoted market prices.
The BNY Mellon Stable Value Portfolio is stated at contact value, which represents contributions, plus credited earnings, less participant withdrawals.
Shares of McKesson common stock are valued at quoted market prices on March 31, 2017 and 2016. Certain administrative expenses are allocated to the individual investment options based upon daily balances invested in each option and are reflected as an addition to net depreciation in fair market value of investments or a reduction of net appreciation in fair market value of investments. Consequently, these administrative expenses are reflected as a reduction of investment return for such investments. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation/(depreciation) includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
Administrative Expenses: Administrative expenses of the Plan are paid by the Plan. The Company, in its discretion, may pay all, a portion, or none of such expenses from time to time.
Benefits: Benefits are recorded when paid.
Notes Receivable: Notes receivable from participants are valued at the unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the plan document.
New Accounting Pronouncements: In May 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which amends ASC 820, Fair Value Measurement. Under this ASU, the carrying values of investments measured using the NAV per share practical expedient are no longer required to be categorized within the fair value hierarchy. The ASU also eliminates certain disclosure requirements for investments that are eligible for fair value measurement using the NAV per share practical expedient. We adopted this guidance in the 2017 plan year on a retrospective basis. Refer to Financial Note 4, “Fair Value Measurement,” for the presentation of assets under this amended guidance. Adoption of the amended guidance did not have an effect on the Plan's financial statements.
In February 2017, FASB issued ASU 2017-06, Plan Accounting-Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (A Consensus of the Emerging Issues Task Force). ASU 2017-06 amended the presentation and disclosure requirements relating to master trusts in accordance with GAAP. The amendments are effective for all plan years beginning after December 15, 2018, and are to be applied retrospectively. Early adoption is permitted. The Plan is currently evaluating the impact that the guidance will have on the Plan's financial statements.
3. Investments Reported at Contract Value
The Stable Value Portfolio contains investment contracts with insurance companies and financial institutions with the objective of providing participants a stable return on investment and protection of principal from changes in market interest rates.
Traditional GICs are unsecured general account obligations of insurance companies. The obligation is backed by the general account assets of the insurance company that writes the investment contract. The traditional GIC crediting rate is based upon the rate that is agreed to when the insurance company writes the contract and is generally fixed for the life of the contract.
9
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
Separate account GICs are group annuity contracts that pay a rate of return that is reset periodically (typically quarterly), offer book value accounting, and provide benefit responsiveness for participant-directed withdrawals. The crediting rate reflects the experience of assets that are separated from the insurance company’s general account assets. The liabilities associated with an insurance company separate account are paid from the assets held in that separate account. The insurance company’s general account assets back the separate accounts to fulfill separate account obligations. Separate account assets cannot be used to satisfy general account liabilities.
Fixed maturity synthetic GICs consist of an asset or pool of assets that are owned by the fund (or plan) and a benefit-responsive, book value wrap contract purchased for the portfolio. The wrap contract provides contract value accounting for the asset and assures that contract value, benefit-responsive payments will be made for participant-directed withdrawals.
Constant duration synthetic GICs consist of a portfolio of securities owned by the fund (or plan) and a benefit-responsive, book value wrap contract purchased for the portfolio. The wrap contract amortizes gains and losses of the underlying securities over the portfolio duration and assures that contract value payments will be made for participant-directed withdrawals.
The fixed maturity synthetic and constant duration synthetic GICs use wrap contracts in order to manage market risks and to alter the return characteristics of the underlying portfolio of securities owned by the Stable Value Portfolio to match certain fund objectives. There are no reserves against these contract values for credit risk of the contract issuer or otherwise.
The initial crediting rates for both the fixed maturity synthetic and constant duration synthetic GICs are established based on the market interest rates at the time the initial asset is purchased and are guaranteed to have an interest crediting rate of not less than zero percent. The fixed maturity synthetic GIC crediting rate is set at the start of the contract and typically resets on a quarterly basis. The constant duration synthetic GIC crediting rate resets every quarter based on the contract value, the market yield to maturity, the market value, and the average duration of the underlying assets. The crediting rate for constant duration synthetic GICs aims at converging the contract value with the market value; therefore, it will be affected by interest rate and market changes.
Withdrawals and transfers resulting from the following events will limit the ability of the portfolio to transact at book or contract value, though such events are not probable of occurring. Instead, fair value would likely be used in determining the payouts to the participants, should any of the following events occur:
• | Employer-initiated events — events within the control of the Plan or the Plan Sponsor which would have a material and adverse impact on the fund |
• | Employer communications designed to induce participants to transfer from the fund |
• | Competing fund transfer or violation of equity wash or equivalent rules in place |
• | Changes of qualification status of employer or plan |
Issuers may terminate the GICs and settle at other than contract value if there is a change in the qualification status of employer or plan, a breach of material obligations under the contract, misrepresentation by the contract holder, or failure of the underlying portfolio to conform to the pre-established investment guidelines.
10
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
The portfolio holdings in the BNY Mellon Stable Value Portfolio as of March 31 are shown below (in thousands):
2017 | 2016 | |||||||
Investment at Contract Value | Investment at Contract Value | |||||||
Cash/Cash Equivalents: | ||||||||
Fidelity Management Trust Company | $ | 8,691 | $ | 15,622 | ||||
Traditional GIC: | ||||||||
Metropolitan Life Insurance Company | — | 2,017 | ||||||
Fixed Maturity Synthetic GIC: | ||||||||
American General Life | 33,504 | 29,174 | ||||||
Constant Duration Synthetic GICs: | ||||||||
Pacific Life | 43,840 | 47,619 | ||||||
RGA Reinsurance Company | 24,664 | 21,111 | ||||||
Prudential | 49,552 | 48,313 | ||||||
Transamerica Premier Life | 46,090 | 45,088 | ||||||
Voya Retirement Insurance & Annuity Company | 21,497 | 21,155 | ||||||
Separate Account GICs: | ||||||||
New York Life | 22,303 | 21,785 | ||||||
Total | $ | 250,141 | $ | 251,884 |
4. Fair Value Measurement
Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. When determining fair value, the Plan considers the principal or most advantageous market in which the Plan would transact, and the Plan considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, redemption restrictions, and risk of non-performance.
In addition to determining fair value, the Plan is required to establish a fair value hierarchy for valuation inputs. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels, which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are:
Level 1 — | unadjusted quoted prices in active markets for identical assets or liabilities; |
Level 2 — | quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; |
Level 3 — | unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. |
11
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
The Plan’s investments measured at fair value on a recurring basis consisted of the following types of instruments as of March 31 (in thousands):
2017 | |||||||||||
Total | Level 1 | Level 2 | |||||||||
Fidelity BrokerageLink: | |||||||||||
Mutual funds | $ | 140,280 | $ | 140,280 | $ | — | |||||
Common and preferred stock | 83,100 | 83,100 | — | ||||||||
Fixed income investments | 3,035 | — | 3,035 | ||||||||
Other | 1,612 | 1,327 | 285 | ||||||||
Separately managed accounts: | |||||||||||
Common and preferred stock | 730,276 | 730,276 | — | ||||||||
Mutual funds | 16,460 | 16,460 | — | ||||||||
Employer and Employee Stock Funds | 565,254 | 565,254 | |||||||||
Total | $ | 1,540,017 | $ | 1,536,697 | $ | 3,320 | |||||
Assets held at NAV practical expedient (1) | |||||||||||
Common/collective trusts | 2,045,527 | ||||||||||
Total plan assets | $ | 3,585,544 | |||||||||
2016 | |||||||||||
Total | Level 1 | Level 2 | |||||||||
Fidelity BrokerageLink: | |||||||||||
Mutual funds | $ | 135,966 | $ | 135,966 | $ | — | |||||
Common and preferred stock | 69,933 | 69,933 | — | ||||||||
Fixed income investments | 1,948 | — | 1,948 | ||||||||
Other | 1,770 | 1,271 | 499 | ||||||||
Separately managed accounts: | |||||||||||
Common and preferred stock | 642,997 | 642,997 | — | ||||||||
Mutual funds | 12,389 | 12,389 | — | ||||||||
Employer and Employee Stock Funds | 695,624 | 695,624 | |||||||||
Total | $ | 1,560,627 | $ | 1,558,180 | $ | 2,447 | |||||
Assets held at NAV practical expedient (1) | |||||||||||
Common/collective trusts | 1,821,287 | ||||||||||
Total plan assets | $ | 3,381,914 |
(1) Common/collective trusts for which fair value is measured using the NAV per share as a practical expedient are not leveled within the fair value hierarchy and are included as a reconciling item to total investments measured at fair value presented in the statements of net assets available for benefits.
For the years ended March 31, 2017 and 2016, there were no investments classified as level 3 nor were there any significant transfers in or out of levels 1, 2, or 3. Below is a description of the valuation methodologies used for the fair value measurements.
Mutual funds are publicly traded investments which are valued using NAV. The NAV of a mutual fund is a quoted price in an active market. The NAV is determined once a day after the closing of the exchange based upon the underlying assets in the fund, less the fund’s liabilities, expressed on a per-share basis.
12
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
Common/collective trusts are valued using NAV. The NAV of a common/collective trust is based on the market values of the underlying securities. The beneficial interest of each investor is represented in units. Units are issued and redeemed daily at the fund’s closing NAV.
Separately managed accounts are valued based on the fair values of the underlying securities, which are primarily valued using quoted market prices.
Investments in Fidelity BrokerageLink and McKesson common stock are stated at quoted market prices.
The Plan makes certain investments where the fair value is measured by NAV per share. There were no unfunded commitments, normal course of business restrictions, or other redemption restrictions for these investments. These investments are summarized below as of March 31 (in thousands):
2017 | 2016 | ||||||||||||||
Fair Value | Redemption Frequency | Redemption Notice Period | Fair Value | Redemption Frequency | Redemption Notice Period | ||||||||||
Common/collective trusts | $ | 2,045,527 | As needed | 1-5 days | $ | 1,821,287 | As needed | 1-5 days |
5. Federal Income Tax Status
On November 26, 2013, the Internal Revenue Service issued a favorable determination letter to the Plan indicating that, in its opinion, the terms of the Plan conform to the requirements of Section 401(a) of the Code. In addition, the Company and the plan administrator believe that the Plan, in form and operation, complies with the applicable requirements of the Code and that the Plan and related trust continue to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
Plan management evaluates tax positions taken by the Plan and recognizes a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of March 31, 2017, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2014.
6. Plan Termination
The Company’s Board of Directors reserves the right to terminate the Plan. If termination should occur, all participant accounts would immediately vest and each account would receive a distribution equal to the vested account balance.
7. Exempt Related Party Transactions
At March 31, 2017 and 2016, respectively, the Plan held approximately 3,784,000 and 4,382,000 common shares of McKesson Corporation, the Plan Sponsor, with a cost basis of $218,097,000 and $245,487,000. The shares were held within the Plan’s Employer and Employee Stock Funds. At March 31, 2017 and 2016, the Employer Stock Fund held 2,693,000 and 3,166,000 common shares, respectively. At March 31, 2017 and 2016, the Employee Stock Fund held 1,091,000 and 1,216,000 common shares, respectively. These transactions qualify as exempt party-in-interest transactions.
McKesson declared dividends of $1.12 and $1.08 per share during the years ended March 31, 2017 and 2016, respectively. During the years ended March 31, 2017 and 2016, the Employer Stock Fund recognized dividend income from McKesson common shares of $3,256,000 and $3,650,000, respectively. During the years ended March 31, 2017 and 2016, the Employee Stock Fund recognized dividend income from McKesson common shares of $1,296,000 and $1,353,000, respectively. McKesson dividends received by the Plan were reinvested respectively in the Employer and Employee Stock Funds.
13
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FINANCIAL NOTES (CONTINUED)
Certain investment options are managed by Fidelity, which also serves as the Plan’s record-keeper and trustee. Therefore, these transactions qualify as exempt party-in-interest transactions. Generally, investment options (other than mutual funds and publicly offered securities) may qualify as party-in-interest transactions if the issuer, investment manager, or trustee of the investment option is a plan fiduciary or service provider. Fees for investment management services are allocated to the participants with balances in those funds.
8. Subsequent Event
Effective April 3, 2017, $7,021,000 of net assets from the Laboratory Supply Company 401(k) Plan were merged into the Plan. McKesson acquired Laboratory Supply Company in May 2016.
9. Reconciliation of Financial Statements to Form 5500
Net assets available for benefits reported in the financial statements at March 31, 2017 and 2016 agree to net assets available for benefits reported at March 31, 2017 and 2016 in the Form 5500. There were no reconciling adjustments in either year.
14
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
*MCKESSON EMPLOYER STOCK FUND (allocated) | |||||||||||
*MCKESSON CORP | $ | 97,771,823 | 2,693,389 | $ | 399,321,853 | ||||||
FID INSTL CASH US GOVT FD (INTEREST BEARING CASH) | 2,589,175 | 2,589,175 | 2,589,175 | ||||||||
*MCKESSON EMPLOYEE STOCK FUND | |||||||||||
*MCKESSON CORP | 120,325,145 | 1,090,681 | 161,704,365 | ||||||||
FID INSTL CASH US GOVT FD (INTEREST BEARING CASH) | 679,858 | 679,858 | 679,858 | ||||||||
SETTLEMENT ADJUSTMENTS | ** | ** | 959,229 | ||||||||
TOTAL MCKESSON STOCK FUNDS | 565,254,480 | ||||||||||
*PSIP INTERNATIONAL | |||||||||||
EATON VANCE TRUST COMPANY COLLECTIVE INV TRUST FOR EMPLOYEE BENEFIT PLANS - EMERGING MARKETS EQUITY FUND | 25,856,601 | 2,433,180 | 26,590,482 | ||||||||
FIDELITY DIVERSIFIED INTERNATIONAL COMPANY | 104,897,956 | 9,588,029 | 106,361,930 | ||||||||
*PSIP FIXED INCOME PORTFOLIO | |||||||||||
LOOMIS SAYLES CORE PLUS FIXED INCOME FUND | 3,766,314 | 51,315,215 | 52,991,803 | ||||||||
VOYA CORE PLUS TRUST FUND | 5,214,327 | 52,205,370 | 52,991,803 | ||||||||
MANULIFE ASSET MANAGEMENT TRUST COMPANY STRATEGIC FIXED INCOME FUND | 2,491,997 | 25,898,999 | 26,495,902 | ||||||||
*SSGA S&P 500 INDEX | 247,479,251 | 10,722,708 | 487,643,475 | ||||||||
*VANGUARD TARGET INCOME | 25,988,665 | 694,528 | 27,690,844 | ||||||||
*VANGUARD TARGET 2010 | 17,822,600 | 451,474 | 18,912,264 | ||||||||
*VANGUARD TARGET 2015 | 49,934,397 | 1,207,068 | 54,100,782 | ||||||||
*VANGUARD TARGET 2020 | 181,235,731 | 4,197,069 | 197,765,896 | ||||||||
*VANGUARD TARGET 2025 | 218,605,045 | 4,932,152 | 240,590,373 | ||||||||
*VANGUARD TARGET 2030 | 213,119,104 | 4,679,733 | 236,045,744 | ||||||||
*VANGUARD TARGET 2035 | 177,044,080 | 3,790,068 | 197,386,741 | ||||||||
*VANGUARD TARGET 2040 | 131,010,136 | 2,760,804 | 146,709,127 | ||||||||
*VANGUARD TARGET 2045 | 80,562,677 | 1,692,007 | 90,183,961 | ||||||||
*VANGUARD TARGET 2050 | 48,345,426 | 1,012,316 | 53,976,702 | ||||||||
*VANGUARD TARGET 2055 | 18,463,607 | 383,638 | 20,428,739 | ||||||||
*VANGUARD TARGET 2060 | 7,814,302 | 270,328 | 8,660,294 | ||||||||
TOTAL COMMON/COLLECTIVE TRUSTS | 2,045,526,862 | ||||||||||
*DODGE & COX LARGE CAP VALUE PORTFOLIO | |||||||||||
AEGON NV (NY REGD) NY REG SH | 1,588,755 | 284,700 | 1,460,511 | ||||||||
ALNYLAM PHARMACEUTICALS | 912,386 | 20,000 | 1,025,000 | ||||||||
ALPHABET INC CL A | 359,845 | 1,000 | 847,800 | ||||||||
ALPHABET INC CL C | 3,540,576 | 7,523 | 6,240,780 | ||||||||
AMERICAN EXPRESS CO | 5,399,419 | 80,000 | 6,328,800 | ||||||||
ANADARKO PETROLEUM CORP | 3,040,689 | 58,700 | 3,639,400 | ||||||||
ANTHEM INC | 1,334,102 | 10,900 | 1,802,642 | ||||||||
APACHE CORP | 5,594,262 | 82,000 | 4,213,980 | ||||||||
ASTRAZENECA PLC SPONS ADR | 4,741,781 | 157,500 | 4,904,550 | ||||||||
BAKER HUGHES INC | 3,450,855 | 72,100 | 4,313,022 | ||||||||
BANK OF AMERICA CORPORATION | 6,015,596 | 495,900 | 11,698,281 | ||||||||
BANK OF NEW YORK MELLON CORP | 3,410,652 | 121,400 | 5,733,722 | ||||||||
BB&T CORP | 1,806,240 | 66,000 | 2,950,200 | ||||||||
BRISTOL-MYERS SQUIBB CO | 3,605,112 | 63,500 | 3,453,130 | ||||||||
CAPITAL ONE FINANCIAL CORP | 4,982,377 | 121,000 | 10,485,860 | ||||||||
CELANESE CORP SER A | 1,900,752 | 39,500 | 3,549,075 |
15
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
CHARTER COMM INC A | 6,433,496 | 28,082 | 9,191,800 | ||||||||
CIGNA CORP | 3,315,146 | 37,500 | 5,493,375 | ||||||||
CISCO SYSTEMS INC | 4,800,489 | 176,000 | 5,948,800 | ||||||||
COACH INC | 2,132,466 | 42,000 | 1,735,860 | ||||||||
COMCAST CORP CL A | 2,048,502 | 204,000 | 7,668,360 | ||||||||
CONCHO RESOURCES INC | 1,593,431 | 16,200 | 2,079,108 | ||||||||
CORNING INC | 1,390,224 | 94,400 | 2,548,800 | ||||||||
DANAHER CORP | 996,116 | 16,000 | 1,368,480 | ||||||||
DELL TECH INC CL V | 1,217,161 | 25,102 | 1,608,536 | ||||||||
DISH NETWORK CORP A | 1,265,049 | 37,700 | 2,393,573 | ||||||||
EXPRESS SCRIPTS HLDG CO | 5,370,361 | 71,000 | 4,679,610 | ||||||||
FEDEX CORP | 2,732,240 | 32,500 | 6,342,375 | ||||||||
GOLDMAN SACHS GROUP INC | 4,854,269 | 38,000 | 8,729,360 | ||||||||
HARLEY-DAVIDSON INC | 1,583,973 | 30,000 | 1,815,000 | ||||||||
HEWLETT PACKARD ENTERPRISE CO | 5,940,256 | 394,900 | 9,359,130 | ||||||||
HP INC | 4,519,448 | 342,800 | 6,129,264 | ||||||||
JOHNSON CONTROLS INTERNAT | 1,999,704 | 50,053 | 2,108,232 | ||||||||
JPMORGAN CHASE & CO | 3,776,503 | 74,800 | 6,570,432 | ||||||||
JUNIPER NETWORKS INC | 1,328,523 | 53,500 | 1,488,905 | ||||||||
LIBERTY INTERACTIVE CORP CL A | 751,759 | 68,200 | 1,365,364 | ||||||||
MAXIM INTEGRATED PRODUCTS INC | 1,259,655 | 55,000 | 2,472,800 | ||||||||
MEDTRONIC PLC | 2,421,987 | 33,000 | 2,658,480 | ||||||||
MERCK & CO INC NEW | 1,148,613 | 37,000 | 2,350,980 | ||||||||
METLIFE INC | 5,008,237 | 116,000 | 6,127,120 | ||||||||
MICROSOFT CORP | 3,101,389 | 112,000 | 7,376,320 | ||||||||
NATIONAL OILWELL VARCO INC | 4,135,671 | 82,900 | 3,323,461 | ||||||||
NETAPP INC | 1,350,413 | 39,800 | 1,665,630 | ||||||||
NEWS CORP NEW CL A | 157,220 | 26,225 | 340,925 | ||||||||
NOVARTIS AG SPON ADR | 6,575,993 | 106,000 | 7,872,620 | ||||||||
PRICELINE GROUP INC | 2,485,649 | 2,000 | 3,559,940 | ||||||||
SANOFI SPON ADR | 8,092,541 | 200,000 | 9,050,000 | ||||||||
SCHLUMBERGER LTD | 5,023,463 | 72,000 | 5,623,200 | ||||||||
SCHWAB CHARLES CORP | 4,650,824 | 262,300 | 10,704,463 | ||||||||
SPRINT CORP | 2,378,814 | 456,043 | 3,958,453 | ||||||||
SYNOPSYS INC | 908,339 | 35,000 | 2,524,550 | ||||||||
TARGET CORP | 1,874,186 | 30,500 | 1,683,295 | ||||||||
TE CONNECTIVITY LTD | 1,223,621 | 44,000 | 3,280,200 | ||||||||
TIME WARNER INC | 2,784,996 | 87,900 | 8,588,709 | ||||||||
TWENTY FIRST CENTURY FOX CL B | 1,157,989 | 40,000 | 1,271,200 | ||||||||
TWENTY FIRST CENTURY FOX INC-A | 3,259,380 | 195,000 | 6,316,050 | ||||||||
UNION PACIFIC CORP | 3,069,418 | 39,500 | 4,183,840 | ||||||||
UNITEDHEALTH GROUP INC | 2,126,597 | 26,200 | 4,297,062 | ||||||||
VMWARE INC CL A | 1,395,594 | 24,700 | 2,275,858 | ||||||||
WAL MART STORES INC | 4,196,437 | 63,000 | 4,541,040 | ||||||||
WEATHERFORD INTERNATIONAL PLC | 1,611,181 | 114,800 | 763,420 | ||||||||
WELLS FARGO & CO | 8,160,839 | 194,100 | 10,803,606 | ||||||||
ZAYO GROUP HOLDINGS INC | 1,282,254 | 39,500 | 1,299,550 | ||||||||
SSBK STIF FUND (INTEREST BEARING CASH) | 3,298,004 | 3,298,004 | 3,298,004 | ||||||||
SETTLEMENT ADJUSTMENTS | ** | ** | 1,160,864 | ||||||||
*PSIP LG CAP GROWTH PORTFOLIO |
16
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
ACTIVISION BLIZZARD INC | 2,277,834 | 61,435 | 3,063,149 | ||||||||
ACUITY BRANDS INC | 3,022,978 | 13,561 | 2,766,444 | ||||||||
ADOBE SYSTEMS INC | 3,902,471 | 49,229 | 6,406,170 | ||||||||
AKAMAI TECHNOLOGIES INC | 2,012,522 | 31,238 | 1,864,909 | ||||||||
ALEXION PHARMACEUTICALS INC | 2,213,922 | 15,679 | 1,900,922 | ||||||||
ALPHABET INC CL A | 546,342 | 1,304 | 1,105,531 | ||||||||
ALPHABET INC CL C | 7,291,416 | 13,714 | 11,376,586 | ||||||||
AMAZON.COM INC | 5,548,083 | 13,628 | 12,081,767 | ||||||||
AMPHENOL CORPORATION CL A | 1,910,156 | 48,881 | 3,478,861 | ||||||||
ANSYS INC | 961,602 | 12,144 | 1,297,829 | ||||||||
APPLE INC | 3,888,398 | 39,798 | 5,717,381 | ||||||||
APPLIED MATERIALS INC | 1,681,128 | 57,233 | 2,226,364 | ||||||||
BECTON DICKINSON & CO | 2,012,945 | 12,032 | 2,207,150 | ||||||||
BOSTON SCIENTIFIC CORP | 1,950,029 | 86,252 | 2,145,087 | ||||||||
BROADCOM LTD | 1,382,859 | 16,730 | 3,663,201 | ||||||||
CELGENE CORP | 266,304 | 3,220 | 400,665 | ||||||||
COGNIZANT TECH SOLUTIONS CL A | 1,202,164 | 27,026 | 1,608,588 | ||||||||
COMCAST CORP CL A | 2,604,940 | 117,532 | 4,418,028 | ||||||||
CONSTELLATION BRANDS INC CL A | 940,672 | 7,638 | 1,237,891 | ||||||||
COSTCO WHOLESALE CORP | 2,003,029 | 17,142 | 2,874,542 | ||||||||
DANAHER CORP | 1,961,576 | 35,443 | 3,031,440 | ||||||||
DELTA AIR INC | 2,338,513 | 71,930 | 3,305,903 | ||||||||
DEXCOM INC | 2,140,254 | 25,296 | 2,143,330 | ||||||||
ECOLAB INC | 3,401,293 | 36,606 | 4,588,196 | ||||||||
EDWARDS LIFESCIENCES CORP | 1,407,774 | 15,674 | 1,474,453 | ||||||||
ELECTRONIC ARTS INC | 1,959,593 | 23,448 | 2,099,065 | ||||||||
EQUINIX INC | 932,965 | 2,527 | 1,011,735 | ||||||||
ESTEE LAUDER COS INC CL A | 1,847,335 | 27,067 | 2,295,011 | ||||||||
FACEBOOK INC A | 3,684,296 | 59,549 | 8,458,935 | ||||||||
FLEETCOR TECHNOLOGIES INC | 2,090,799 | 13,340 | 2,020,076 | ||||||||
FORTIVE CORP | 1,656,865 | 38,070 | 2,292,575 | ||||||||
GENPACT LTD | 1,211,860 | 68,766 | 1,702,646 | ||||||||
GILEAD SCIENCES INC | 461,633 | 8,183 | 555,789 | ||||||||
HOME DEPOT INC | 2,759,306 | 35,383 | 5,195,286 | ||||||||
HONEYWELL INTL INC | 1,345,104 | 15,673 | 1,957,088 | ||||||||
HUMANA INC | 668,544 | 3,209 | 661,503 | ||||||||
ILLUMINA INC | 912,763 | 6,477 | 1,105,235 | ||||||||
INCYTE CORP | 527,452 | 4,950 | 661,667 | ||||||||
INTERCONTINENTAL EXCHANGE INC | 1,629,685 | 31,359 | 1,877,463 | ||||||||
INTUITIVE SURGICAL INC | 4,920,561 | 8,884 | 6,809,319 | ||||||||
LAS VEGAS SANDS CORP | 954,879 | 16,165 | 922,537 | ||||||||
LYONDELLBASELL INDS CLASS A | 383,553 | 5,445 | 496,530 | ||||||||
MASTERCARD INC CL A | 2,650,801 | 44,633 | 5,019,874 | ||||||||
MEAD JOHNSON NUTRITION CO | 1,389,274 | 17,860 | 1,590,969 | ||||||||
MERCADOLIBRE INC | 1,162,830 | 6,775 | 1,432,709 | ||||||||
MICROSOFT CORP | 3,291,038 | 62,117 | 4,091,026 | ||||||||
MONSTER BEVERAGE CORP NEW | 1,802,389 | 37,716 | 1,741,348 | ||||||||
MORGAN STANLEY | 1,054,646 | 24,330 | 1,042,297 | ||||||||
NETFLIX INC | 1,251,096 | 15,992 | 2,363,778 | ||||||||
NEWELL BRANDS INC | 1,307,122 | 24,662 | 1,163,307 |
17
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
NORTHROP GRUMMAN CORP | 747,741 | 4,184 | 995,123 | ||||||||
NVIDIA CORP | 2,125,306 | 43,076 | 4,692,269 | ||||||||
NXP SEMICONDUCTORS NV | 2,269,280 | 27,620 | 2,858,670 | ||||||||
PAYPAL HLDGS INC | 3,239,638 | 85,665 | 3,685,308 | ||||||||
PIONEER NATURAL RESOURCES CO | 1,216,514 | 7,487 | 1,394,304 | ||||||||
PRICELINE GROUP INC | 1,972,403 | 1,451 | 2,582,736 | ||||||||
REGENERON PHARMACEUTICALS INC | 589,159 | 1,878 | 727,744 | ||||||||
REYNOLDS AMERICAN INC | 290,834 | 6,542 | 412,277 | ||||||||
ROCKWELL AUTOMATION INC | 716,122 | 4,700 | 731,837 | ||||||||
ROPER TECHNOLOGIES INC | 3,587,574 | 20,942 | 4,324,314 | ||||||||
ROSS STORES INC | 1,525,879 | 26,301 | 1,732,447 | ||||||||
S&P GLOBAL INC | 1,751,379 | 13,969 | 1,826,307 | ||||||||
SALESFORCE.COM INC | 2,125,773 | 42,800 | 3,530,572 | ||||||||
SBA COMMUNICATIONS CORP CL A | 1,925,614 | 20,002 | 2,407,641 | ||||||||
SCHWAB CHARLES CORP | 2,840,672 | 86,824 | 3,543,287 | ||||||||
SERVICENOW INC | 2,041,639 | 27,972 | 2,446,711 | ||||||||
SHERWIN WILLIAMS CO | 874,265 | 4,684 | 1,452,930 | ||||||||
SMITH (AO) CORP | 1,443,300 | 29,595 | 1,514,080 | ||||||||
SNAP INC - A | 853,124 | 42,350 | 954,146 | ||||||||
SOUTHWEST AIRLINES CO | 1,685,843 | 32,738 | 1,759,995 | ||||||||
SPLUNK INC | 578,768 | 8,786 | 547,280 | ||||||||
STARBUCKS CORP | 1,228,500 | 36,922 | 2,155,876 | ||||||||
SVB FINL GROUP | 586,350 | 3,370 | 627,123 | ||||||||
TESLA MOTORS INC | 770,154 | 4,130 | 1,149,379 | ||||||||
THERMO FISHER SCIENTIFIC INC | 3,051,721 | 20,382 | 3,130,675 | ||||||||
TJX COMPANIES INC NEW | 1,660,990 | 21,740 | 1,719,199 | ||||||||
TRIPADVISOR INC | 2,917,384 | 43,281 | 1,868,008 | ||||||||
ULTA SALON COSMETICS & FRG INC | 2,812,265 | 13,123 | 3,743,073 | ||||||||
UNITED RENTALS INC | 1,086,399 | 8,720 | 1,090,436 | ||||||||
UNITEDHEALTH GROUP INC | 1,297,391 | 8,121 | 1,331,925 | ||||||||
VANTIV INC | 1,923,778 | 36,216 | 2,322,170 | ||||||||
VERISIGN INC | 664,474 | 7,975 | 694,702 | ||||||||
VERTEX PHARMACEUTICALS INC | 1,525,022 | 15,199 | 1,662,011 | ||||||||
VISA INC CL A | 3,415,934 | 73,383 | 6,521,547 | ||||||||
VULCAN MATERIALS CO | 1,106,190 | 9,825 | 1,183,716 | ||||||||
WESTINGHOUSE AIR BRAKE TEC CRP | 1,633,684 | 23,247 | 1,813,266 | ||||||||
SSBK GOVT STIF FUND (INTEREST BEARING CASH) | 8,960,498 | 8,960,498 | 8,960,498 | ||||||||
SETTLEMENT ADJUSTMENTS | ** | ** | (385,201 | ) | |||||||
*PSIP SMALL CAP GROWTH PORTFOLIO | |||||||||||
ACADIA PHARMACEUTICALS | 1,232,919 | 43,797 | 1,505,741 | ||||||||
ADVISORY BOARD CO | 1,161,743 | 27,472 | 1,285,690 | ||||||||
AERIE PHARMACEUTICALS INC | 298,765 | 15,300 | 693,855 | ||||||||
BOFI HOLDING INC | 2,780,498 | 130,579 | 3,412,029 | ||||||||
CANADA GOOSE HLDGS (US) | 893,756 | 54,258 | 865,958 | ||||||||
CHUY'S HOLDINGS INC | 1,283,722 | 44,920 | 1,338,616 | ||||||||
COTIVITI HOLDINGS INC | 1,954,243 | 78,558 | 3,270,370 | ||||||||
DIPLOMAT PHARMACY INC | 578,030 | 31,612 | 504,211 | ||||||||
DORMAN PRODUCTS INC | 15,868 | 291 | 23,900 | ||||||||
EBIX INC | 3,252,198 | 55,678 | 3,410,278 | ||||||||
EPAM SYSTEMS INC | 1,721,161 | 28,246 | 2,133,138 |
18
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
EVERBRIDGE INC | 2,558,548 | 156,666 | 3,216,353 | ||||||||
FINANCIAL ENGINES INC | 443,627 | 11,243 | 489,633 | ||||||||
FIRSTSERVICE CORP (US) | 2,870,693 | 101,141 | 6,098,802 | ||||||||
FRANCESCA'S HOLDINGS CORP | 1,290,056 | 79,527 | 1,220,739 | ||||||||
GLOBANT SA | 1,280,050 | 37,590 | 1,368,276 | ||||||||
GOPRO INC A | 1,552,107 | 105,977 | 922,000 | ||||||||
GREENLIGHT CAPITAL RE A | 569,741 | 23,099 | 510,488 | ||||||||
GTT COMMUNICATIONS INC | 3,004,960 | 150,735 | 3,670,397 | ||||||||
H&E EQUIPMENT SVCS INC | 1,471,192 | 70,169 | 1,720,544 | ||||||||
HEICO CORP | 1,864,881 | 33,244 | 2,898,877 | ||||||||
HUBSPOT INC | 1,179,355 | 22,123 | 1,339,548 | ||||||||
INDEPENDENT BANK GROUP | 1,490,930 | 31,423 | 2,020,499 | ||||||||
INSULET CORP | 3,777,547 | 106,296 | 4,580,295 | ||||||||
IPG PHOTONICS CORP | 1,593,952 | 19,320 | 2,331,924 | ||||||||
MACOM TECH SOLN HLDS INC | 4,422,406 | 105,465 | 5,093,960 | ||||||||
MEDPACE HOLDINGS INC | 44,979 | 1,634 | 48,775 | ||||||||
MIDDLEBY CORP | 3,201,335 | 32,125 | 4,383,456 | ||||||||
NORD ANGLIA EDUCATION INC | 1,187,104 | 54,852 | 1,389,950 | ||||||||
OLLIES BARGAIN OUTLET HLD | 1,577,176 | 66,400 | 2,224,400 | ||||||||
PAYLOCITY HOLDING CORP | 4,019,845 | 122,342 | 4,726,071 | ||||||||
PLANET FITNESS INC CL A | 1,983,844 | 98,293 | 1,894,106 | ||||||||
PORTOLA PHARMACEUTICALS | 1,838,192 | 80,739 | 3,164,161 | ||||||||
PROTO LABS INC | 460,019 | 7,571 | 386,878 | ||||||||
PUMA BIOTECHNOLOGY INC | 2,259,066 | 34,068 | 1,267,330 | ||||||||
REALPAGE INC | 305,912 | 15,072 | 526,013 | ||||||||
SIGNATURE BANK | 2,887,844 | 22,358 | 3,317,704 | ||||||||
SITEONE LANDSCAPE SUPPLY | 1,878,832 | 54,272 | 2,627,308 | ||||||||
SPS COMMERCE INC | 654,904 | 11,469 | 670,822 | ||||||||
STAMPS.COM INC | 3,494,032 | 38,907 | 4,604,643 | ||||||||
STRATASYS LTD | 238,096 | 10,788 | 221,046 | ||||||||
TRADE DESK INC | 1,191,073 | 32,253 | 1,201,424 | ||||||||
ULTIMATE SOFTWARE GROUP | 3,764,502 | 22,352 | 4,363,334 | ||||||||
ULTRAGENYX PHARMA INC | 1,584,422 | 21,555 | 1,460,998 | ||||||||
US PHYSICAL THERAPY INC | 1,854,128 | 32,270 | 2,107,231 | ||||||||
VIRTUS INVESTMENT PARTNER | 2,495,318 | 17,160 | 1,817,244 | ||||||||
WAGEWORKS INC | 1,609,726 | 33,249 | 2,403,903 | ||||||||
WAYFAIR INC | 3,406,814 | 94,150 | 3,812,134 | ||||||||
XPO LOGISTICS INC | 2,339,221 | 65,017 | 3,113,664 | ||||||||
2U INC | 950,217 | 29,660 | 1,176,316 | ||||||||
BBH STIF FUND (INTEREST BEARING CASH) | 3,910,404 | 3,910,404 | 3,910,404 | ||||||||
SETTLEMENT ADJUSTMENTS | ** | ** | (454,026 | ) | |||||||
*FISHER SMALL CAP VALUE PORTFOLIO | |||||||||||
AAR CORP | 393,032 | 15,200 | 511,176 | ||||||||
ACADIA RLTY TR REIT | 539,189 | 29,225 | 878,504 | ||||||||
ANIXTER INTL INC | 660,921 | 11,293 | 895,535 | ||||||||
ARTISAN PARTNERS ASSET MG | 1,287,386 | 37,600 | 1,037,760 | ||||||||
ASPEN TECHNOLOGIES | 1,149,942 | 30,046 | 1,770,310 | ||||||||
ATLAS AIR WORLD | 750,094 | 19,000 | 1,053,550 | ||||||||
AVISTA CORP | 213,262 | 9,984 | 389,875 | ||||||||
BANCORPSOUTH INC | 1,001,888 | 49,225 | 1,489,056 |
19
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
BEACON ROOFING SUPPLY INC | 1,078,641 | 28,366 | 1,394,473 | ||||||||
BIO RAD LABS CL A | 531,743 | 5,212 | 1,038,960 | ||||||||
BOSTON BEER COMPANY CL A | 1,322,316 | 8,800 | 1,272,920 | ||||||||
CALATLANTIC GROUP INC | 1,037,651 | 39,362 | 1,474,107 | ||||||||
CAPITOL FED FINL (2ND STE | 527,985 | 44,375 | 649,206 | ||||||||
CAVIUM INC | 1,017,954 | 15,500 | 1,110,730 | ||||||||
CHEMED CORP | 934,737 | 9,300 | 1,699,017 | ||||||||
CONMED CORP | 1,159,095 | 28,000 | 1,243,480 | ||||||||
CORELOGIC INC | 1,411,352 | 37,733 | 1,536,488 | ||||||||
CORPORATE OFFC PROPERTIES | 501,498 | 12,751 | 422,058 | ||||||||
DARLING INGREDIENTS INC | 443,189 | 25,725 | 373,527 | ||||||||
DOMINOS PIZZA INC | 940,401 | 24,611 | 4,535,807 | ||||||||
DRIL-QUIP INC | 416,577 | 7,150 | 390,033 | ||||||||
DST SYSTEMS INC | 1,538,597 | 13,900 | 1,702,750 | ||||||||
DUPONT FABROS TECH INC | 588,392 | 22,650 | 1,123,214 | ||||||||
EAST WEST BANCORP INC | 1,097,911 | 42,541 | 2,195,541 | ||||||||
EDUCATION REALTY TR INC | 581,868 | 18,011 | 735,749 | ||||||||
FINISAR CORP | 1,245,092 | 78,375 | 2,142,773 | ||||||||
FIRST AMERICAN FIN CORP | 1,232,026 | 31,089 | 1,221,176 | ||||||||
GLACIER BANCORP INC | 613,597 | 39,273 | 1,332,533 | ||||||||
GREENHILL & CO INC | 1,461,646 | 38,485 | 1,127,611 | ||||||||
HEICO CORP | 1,221,305 | 22,200 | 1,935,840 | ||||||||
HELEN OF TROY LTD | 1,633,824 | 17,353 | 1,634,653 | ||||||||
HELMERICH & PAYNE INC | 278,449 | 6,608 | 439,895 | ||||||||
HILL-ROM HOLDINGS INC | 1,022,113 | 35,150 | 2,481,590 | ||||||||
HUB GROUP INC CL A | 1,115,973 | 27,100 | 1,257,440 | ||||||||
IDACORP INC | 208,167 | 5,848 | 485,150 | ||||||||
INFINERA CORP | 1,211,250 | 127,400 | 1,303,302 | ||||||||
INGREDION INC | 739,468 | 13,848 | 1,667,715 | ||||||||
INTEGER HOLDINGS CORP | 1,009,528 | 27,500 | 1,105,500 | ||||||||
INTEGRA LIFESCIENCES HLDS | 1,230,519 | 60,950 | 2,567,824 | ||||||||
ISHRES TR RUSL 2000 VAL E | 959,273 | 9,354 | 1,105,269 | ||||||||
JANUS CAPITAL GROUP INC | 789,017 | 75,784 | 1,000,349 | ||||||||
KANSAS CITY SOUTHERN | 479,086 | 8,569 | 734,877 | ||||||||
KB HOME | 1,072,477 | 66,200 | 1,316,056 | ||||||||
LANCASTER COLONY CORP | 965,685 | 8,795 | 1,133,148 | ||||||||
LIFE STORAGE INC | 781,778 | 15,202 | 1,248,388 | ||||||||
LITTELFUSE INC | 1,315,002 | 10,600 | 1,695,046 | ||||||||
MAGELLAN HEALTH INC | 838,000 | 14,300 | 987,415 | ||||||||
MEREDITH CORP. | 776,673 | 19,125 | 1,235,475 | ||||||||
MERITAGE HOMES CORP | 1,404,082 | 32,300 | 1,188,640 | ||||||||
MID AMERICA APT CMNTY INC | 606,323 | 10,851 | 1,103,981 | ||||||||
MSC INDU DIRECT CO CL A | 549,880 | 8,900 | 914,564 | ||||||||
MUELLER INDUSTRIES INC | 311,914 | 22,964 | 786,058 | ||||||||
NATUS MEDICAL INC | 943,752 | 33,000 | 1,295,250 | ||||||||
NETSCOUT SYSTEMS INC | 1,478,336 | 51,000 | 1,935,450 | ||||||||
NORTHWEST NATURAL GAS CO | 176,037 | 3,787 | 223,812 | ||||||||
NUVASIVE INC | 820,255 | 25,300 | 1,889,404 | ||||||||
OCEANEERING INTL INC | 337,270 | 9,465 | 256,312 | ||||||||
PACWEST BANCORP | 1,229,919 | 35,467 | 1,888,972 |
20
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
PAREXEL INTL CORP | 971,634 | 31,825 | 2,008,476 | ||||||||
PEGASYSTEMS INC | 777,454 | 59,819 | 2,623,063 | ||||||||
PLEXUS CORP | 699,394 | 17,477 | 1,010,171 | ||||||||
POOL CORP | 876,487 | 30,945 | 3,692,667 | ||||||||
PRESTIGE BRANDS HLDGS INC | 710,611 | 44,100 | 2,450,196 | ||||||||
QORVO INC | 404,818 | 23,390 | 1,603,618 | ||||||||
REGAL BELOIT CORP | 535,527 | 8,878 | 671,621 | ||||||||
RLJ LODGING TRUST | 982,861 | 38,100 | 895,731 | ||||||||
SCOTTS MIRACLE GRO CO | 1,035,014 | 21,847 | 2,040,291 | ||||||||
SELECT MEDICAL HLDGS CORP | 1,009,412 | 77,200 | 1,030,620 | ||||||||
STERIS PLC | 1,911,142 | 25,794 | 1,791,651 | ||||||||
STIFEL FINANCIAL CORP | 1,559,854 | 44,275 | 2,222,162 | ||||||||
STRATASYS LTD | 1,721,460 | 73,400 | 1,503,966 | ||||||||
SVB FINL GROUP | 1,522,235 | 24,218 | 4,506,728 | ||||||||
TELEDYNE TECHNOLOGIES INC | 373,900 | 6,771 | 856,261 | ||||||||
TEXAS CAPITAL BANCSHARES | 1,116,038 | 24,515 | 2,045,777 | ||||||||
TORO CO | 394,686 | 27,674 | 1,728,518 | ||||||||
TREEHOUSE FOODS INC | 564,732 | 10,115 | 856,336 | ||||||||
UMB FINANCIAL CORP | 954,371 | 15,055 | 1,133,792 | ||||||||
UMPQUA HOLDINGS CORP | 1,309,977 | 74,300 | 1,318,082 | ||||||||
VEECO INSTRUMENT | 1,098,208 | 34,575 | 1,032,064 | ||||||||
VERIFONE SYSTEMS INC | 1,144,528 | 61,100 | 1,144,403 | ||||||||
VERINT SYSTEMS INC | 1,881,944 | 37,900 | 1,643,913 | ||||||||
VISHAY INTERTECHNOLOGY | 1,311,825 | 95,675 | 1,573,854 | ||||||||
WADDELL & REED FINL CL A | 898,304 | 27,682 | 470,594 | ||||||||
WEBSTER FINANCIAL | 991,366 | 45,569 | 2,280,273 | ||||||||
WINTRUST FINANCIAL CORP | 1,234,724 | 28,506 | 1,970,335 | ||||||||
WRIGHT MEDICAL GROUP NV | 694,316 | 32,782 | 1,020,176 | ||||||||
BBH STIF FUND (INTEREST BEARING CASH) | 292,350 | 292,350 | 292,350 | ||||||||
SETTLEMENT ADJUSTMENTS | ** | ** | 158,045 | ||||||||
TOTAL SEPARATELY MANAGED ACCOUNTS | 746,735,731 | ||||||||||
*BNY MELLON STABLE VALUE PORTFOLIO: | |||||||||||
*FIDELITY MGMT TRUST CO (INTEREST BEARING CASH) | 8,690,772 | 0.51 | % | 8,690,772 | |||||||
*NEW YORK LIFE GA 29029 | ** | 2.22 | % | 22,303,261 | |||||||
SYNTHETIC GICS | |||||||||||
*AMERICAN GENERAL LIFE 1635583 | ** | 1.18 | % | ** | |||||||
AMERICAN GENERAL LIFE CASH ACCOUNT | 498,538 | 498,538 | 498,538 | ||||||||
AEPWV 2013-1 A1 | ** | 2.01 | % | 845,328 | |||||||
COMM 2012-CR5 A2 | ** | 1.68 | % | 550,841 | |||||||
CARMX 2016-1 A3 | ** | 1.61 | % | 600,265 | |||||||
CARMX 2016-2 A3 | ** | 1.52 | % | 897,457 | |||||||
CNP 2012-1 A2 | ** | 2.16 | % | 1,015,749 | |||||||
CHAIT 2016-A4 A4 | ** | 1.49 | % | 1,281,647 | |||||||
CCCIT 2017-A2 A2 | ** | 1.74 | % | 1,607,572 | |||||||
CGCMT 2014-GC19 A2 | ** | 2.79 | % | 1,169,719 | |||||||
CGCMT 2014-GC21 A1 | ** | 1.24 | % | 595,497 | |||||||
CGCMT 2016-GC36 A1 | ** | 1.61 | % | 890,755 | |||||||
CMRS 2014-A A1 | ** | 1.33 | % | 298,118 | |||||||
DUK 1.731 09/01/22 | ** | 1.73 | % | 632,003 |
21
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
FNR 2011-87 JA | ** | 3.00 | % | 896,282 | |||||||
FNR 2011-104 KH | ** | 2.00 | % | 536,326 | |||||||
FNR 2011-98 VC | ** | 3.50 | % | 605,668 | |||||||
FNR 2011-106 LE | ** | 3.00 | % | 11,508 | |||||||
FNR 2012-1 AE | ** | 1.75 | % | 196,007 | |||||||
FNR 2013-21 BA | ** | 1.00 | % | 479,992 | |||||||
FNR 2014-91 PB | ** | 3.00 | % | 410,245 | |||||||
FHR 3759 LX | ** | 4.00 | % | 727,177 | |||||||
FHR 3875 UA | ** | 3.50 | % | 303,933 | |||||||
FHR 4001 MH | ** | 2.00 | % | 424,641 | |||||||
FHR 4002 DB | ** | 2.00 | % | 258,886 | |||||||
FHR 4015 ME | ** | 2.25 | % | 1,486,182 | |||||||
FHR 4251 GD | ** | 2.50 | % | 455,767 | |||||||
FHR 4368 HG | ** | 3.00 | % | 451,217 | |||||||
FHR 4487 CB | ** | 3.50 | % | 392,637 | |||||||
FHR 2591 QO | ** | 4.50 | % | 35,108 | |||||||
FHR 2668 AZ | ** | 4.00 | % | 93,515 | |||||||
FNR 2011-36 QC | ** | 3.00 | % | 140,653 | |||||||
GSMS 2012-GCJ9 A2 | ** | 1.76 | % | 741,318 | |||||||
GN 784237 | ** | 4.50 | % | 1,158,912 | |||||||
GMALT 2015-3 A3 | ** | 1.69 | % | 400,878 | |||||||
GNR 2010-87 NE | ** | 3.00 | % | 28,722 | |||||||
GNR 2010-113 EA | ** | 2.00 | % | 369,818 | |||||||
GNR 2010-114 DE | ** | 3.00 | % | 131,510 | |||||||
GNR 2010-115 GH | ** | 2.25 | % | 9,799 | |||||||
GNR 2010-167 MK | ** | 3.50 | % | 828,054 | |||||||
GNR 2011-102 DL | ** | 2.50 | % | 120,338 | |||||||
GNR 2012-7 AD | ** | 3.00 | % | 364,948 | |||||||
GNR 2012-12 GE | ** | 3.00 | % | 571,844 | |||||||
GNR 2013-127 A | ** | 2.00 | % | 218,916 | |||||||
GNR 2013-193 A | ** | 2.00 | % | 681,200 | |||||||
GNR 2015-16 GM | ** | 2.00 | % | 1,232,778 | |||||||
GNR 2015-179 GJ | ** | 3.00 | % | 1,311,903 | |||||||
JDOT 2016-A A3 | ** | 1.36 | % | 599,115 | |||||||
JDOT 2016-B A3 | ** | 1.25 | % | 497,173 | |||||||
LBUBS 2007-C7 A3 | ** | 5.87 | % | 943,846 | |||||||
MBART 2016-1 A3 | ** | 1.26 | % | 746,317 | |||||||
MSBAM 2013-C13 A1 | ** | 1.12 | % | 219,255 | |||||||
NAROT 2016-C A3 | ** | 1.18 | % | 570,049 | |||||||
T 0 7/8 06/15/19 | ** | 0.88 | % | 1,373,122 | |||||||
WFCM 2016-BNK1 A1 | ** | 1.32 | % | 1,397,427 | |||||||
WRAP FAIR VALUE | ** | ** | 197,415 | ||||||||
*RGA RGA00042 | ** | 2.26 | % | ** | |||||||
1-3 YEAR GOVERNMENT BOND INDEX FUND | ** | 36,253 | 2,981,275 | ||||||||
INTERMEDIATE GOVERNMENT BOND INDEX FUND | ** | 29,434 | 2,439,225 | ||||||||
1-3 YEAR CREDIT BOND INDEX FUND | ** | 124,391 | 1,453,679 | ||||||||
INTERMEDIATE CREDIT BOND INDEX FUND | ** | 131,508 | 7,046,650 | ||||||||
ABS BOND INDEX FUND | ** | 130,157 | 4,434,954 | ||||||||
MBS INDEX FUND | ** | 112,972 | 5,657,030 | ||||||||
COMMERCIAL MBS BOND INDEX FUND | ** | 21,860 | 625,821 |
22
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
Investment/Fund Name | Cost Basis | Shares/Units/Interest Rate | Current Value | ||||||||
WRAP FAIR VALUE | ** | ** | 25,108 | ||||||||
*PACIFIC LIFE G-27306.01.0001 | ** | 2.48 | % | ** | |||||||
1-3 YEAR GOVERNMENT BOND INDEX FUND | ** | 64,980 | 5,342,611 | ||||||||
INTERMEDIATE GOVERNMENT BOND INDEX FUND | ** | 52,697 | 4,371,227 | ||||||||
1-3 YEAR CREDIT BOND INDEX FUND | ** | 222,921 | 2,605,075 | ||||||||
INTERMEDIATE CREDIT BOND INDEX FUND | ** | 235,672 | 12,627,991 | ||||||||
ABS BOND INDEX FUND | ** | 233,253 | 7,947,686 | ||||||||
MBS INDEX FUND | ** | 202,457 | 10,137,716 | ||||||||
COMMERCIAL MBS BOND INDEX FUND | ** | 39,175 | 1,121,507 | ||||||||
WRAP FAIR VALUE | ** | ** | (313,897 | ) | |||||||
*TRANSAMERICA PREMIER LIFE MDA01116TR | ** | 2.20 | % | ** | |||||||
1-3 YEAR GOVERNMENT BOND INDEX FUND | ** | 67,602 | 5,559,262 | ||||||||
INTERMEDIATE GOVERNMENT BOND INDEX FUND | ** | 54,886 | 4,548,487 | ||||||||
1-3 YEAR CREDIT BOND INDEX FUND | ** | 231,956 | 2,710,715 | ||||||||
INTERMEDIATE CREDIT BOND INDEX FUND | ** | 245,226 | 13,140,076 | ||||||||
ABS BOND INDEX FUND | ** | 242,706 | 8,269,977 | ||||||||
MBS INDEX FUND | ** | 210,663 | 10,548,815 | ||||||||
COMMERCIAL MBS BOND INDEX FUND | ** | 40,762 | 1,166,986 | ||||||||
WRAP FAIR VALUE | ** | ** | 145,623 | ||||||||
*PRUDENTIAL GA 62189 | ** | 2.50 | % | ** | |||||||
PRUDENTIAL CORE CONS INTER BOND FUND | ** | 3,868,668 | 49,937,025 | ||||||||
WRAP FAIR VALUE | ** | ** | (385,273 | ) | |||||||
*VOYA RET INS & ANNUITY CO MCA-60445 | ** | 1.55 | % | ** | |||||||
VOYA DEDICATED MULTI-SECTOR SV TRUST FUND | ** | 2,006,024 | 21,337,694 | ||||||||
WRAP FAIR VALUE | ** | ** | 159,607 | ||||||||
TOTAL BNY MELLON STABLE VALUE PORTFOLIO | 250,140,575 | ||||||||||
*FIDELITY BROKERAGELINK | 208,533,570 | 73,808,259 | 228,027,168 | ||||||||
*Outstanding loan balances, maturing 2017-2032 (5,010 loans, interest rates from 4.25% to 10.50%) | 43,919,188 | ** | 43,919,188 | ||||||||
TOTAL | $ | 3,879,604,004 |
* Party-in-interest as defined under ERISA
** Not applicable
23
McKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
MARCH 31, 2017 (CONTINUED)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
MCKESSON CORPORATION PROFIT-SHARING INVESTMENT PLAN | |||
Dated: September 25, 2017 | /s/ James A. Beer | ||
James A. Beer | |||
Executive Vice President and Chief Financial Officer | |||
Dated: September 25, 2017 | /s/ Jorge Figueredo | ||
Jorge Figueredo | |||
Executive Vice President Human Resources |
24