McKesson (MCK) 10-Q 7 Aug 24 2025 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Jun. 30, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-13252
Entity Registrant Name	McKESSON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3207296
Entity Address, Address Line One	6555 State Hwy 161
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	972
Local Phone Number	446-4800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	129,676,762
Entity Central Index Key	0000927653
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	MCK
Security Exchange Name	NYSE
1.500% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2025
Trading Symbol	MCK25
Security Exchange Name	NYSE
1.625% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2026
Trading Symbol	MCK26
Security Exchange Name	NYSE
3.125% Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	3.125% Notes due 2029
Trading Symbol	MCK29
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 79,283	$ 74,483
Cost of sales	(76,131)	(71,461)
Gross profit	3,152	3,022
Selling, distribution, general, and administrative expenses	(2,001)	(1,870)
Claims and litigation charges, net	(112)	0
Restructuring, impairment, and related charges, net	(10)	(52)
Total operating expenses	(2,123)	(1,922)
Operating income	1,029	1,100
Other income, net	130	38
Interest expense	(75)	(47)
Income before income taxes	1,084	1,091
Income tax expense	(124)	(94)
Net income	960	997
Net income attributable to noncontrolling interests	(45)	(39)
Net income attributable to McKesson Corporation	$ 915	$ 958
Earnings per common share attributable to McKesson Corporation
Diluted (in usd per share)	$ 7	$ 7.02
Basic (in usd per share)	$ 7.04	$ 7.07
Weighted-average common shares outstanding
Diluted (in usd per share)	130.7	136.6
Basic (in shares)	129.8	135.5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 960	$ 997
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	(31)	52
Unrealized gains on cash flow and other hedges	0	7
Changes in retirement-related benefit plans	(1)	(2)
Other comprehensive income (loss), net of tax	(32)	57
Comprehensive income	928	1,054
Comprehensive income attributable to noncontrolling interests	(45)	(39)
Comprehensive income attributable to McKesson Corporation	$ 883	$ 1,015

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Current assets
Cash and cash equivalents	$ 2,302	$ 4,583
Receivables, net	23,743	21,622
Inventories, net	25,571	21,139
Prepaid expenses and other	636	626
Total current assets	52,252	47,970
Property, plant, and equipment, net	2,357	2,316
Operating lease right-of-use assets	1,735	1,729
Goodwill	10,118	10,132
Intangible assets, net	2,045	2,110
Other non-current assets	3,163	3,186
Total assets	71,670	67,443
Current liabilities
Drafts and accounts payable	51,704	47,097
Current portion of long-term debt	51	50
Current portion of operating lease liabilities	296	295
Other accrued liabilities	4,383	4,915
Total current liabilities	56,434	52,357
Long-term debt	5,584	5,579
Long-term deferred tax liabilities	928	917
Long-term operating lease liabilities	1,466	1,466
Long-term litigation liabilities	6,114	6,113
Other non-current liabilities	2,525	2,610
McKesson Corporation stockholders’ deficit
Preferred stock, $0.01 par value, 100 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.01 par value, 800 shares authorized, 279 and 278 shares issued at June 30, 2024 and March 31, 2024, respectively	3	3
Additional paid-in capital	8,126	8,048
Retained earnings	15,810	14,978
Accumulated other comprehensive loss	(913)	(881)
Treasury shares, at cost, 149 and 148 shares at June 30, 2024 and March 31, 2024, respectively	(24,781)	(24,119)
Total McKesson Corporation stockholders’ deficit	(1,755)	(1,971)
Noncontrolling interests	374	372
Total deficit	(1,381)	(1,599)
Total liabilities and deficit	$ 71,670	$ 67,443

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024
McKesson Corporation stockholders’ deficit
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	800,000,000	800,000,000
Common stock, shares issued (in shares)	279,000,000	278,000,000
Treasury shares (in shares)	149,000,000	148,000,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury	Noncontrolling Interests
Beginning balance (in shares) at Mar. 31, 2023		277
Beginning balance at Mar. 31, 2023	$ (1,490)	$ 3	$ 7,747	$ 12,295	$ (905)	$ (20,997)	$ 367
Beginning balance (in shares) at Mar. 31, 2023						(141)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employee plans, net of forfeitures (in shares)		1
Issuance of shares under employee plans, net of forfeitures	(66)		27			$ (93)
Share-based compensation	43		43
Repurchase of common stock (in shares)						(2)
Repurchase of common stock	(673)					$ (673)
Net income	997			958			39
Other comprehensive loss	57				57
Cash dividends declared	(73)			(73)
Payments to noncontrolling interests	(39)						(39)
Other	4		7	2			(5)
Ending balance (in shares) at Jun. 30, 2023		278
Ending balance at Jun. 30, 2023	$ (1,240)	$ 3	7,824	13,182	(848)	$ (21,763)	362
Ending balance (in shares) at Jun. 30, 2023						(143)
Beginning balance (in shares) at Mar. 31, 2024	278	278
Beginning balance at Mar. 31, 2024	$ (1,599)	$ 3	8,048	14,978	(881)	$ (24,119)	372
Beginning balance (in shares) at Mar. 31, 2024	(148)					(148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employee plans, net of forfeitures (in shares)		1
Issuance of shares under employee plans, net of forfeitures	$ (112)		22			$ (134)
Share-based compensation	56		56
Repurchase of common stock (in shares)						(1)
Repurchase of common stock	(528)					$ (528)
Net income	960			915			45
Other comprehensive loss	(32)				(32)
Cash dividends declared	(83)			(83)
Payments to noncontrolling interests	$ (43)						(43)
Ending balance (in shares) at Jun. 30, 2024	279	279
Ending balance at Jun. 30, 2024	$ (1,381)	$ 3	$ 8,126	$ 15,810	$ (913)	$ (24,781)	$ 374
Ending balance (in shares) at Jun. 30, 2024	(149)					(149)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.62	$ 0.54

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
OPERATING ACTIVITIES
Net income	$ 960	$ 997
Adjustments to reconcile to net cash used in operating activities:
Depreciation	63	64
Amortization	106	95
Long-lived asset impairment charges	3	28
Deferred taxes	28	(235)
Charges (credits) associated with last-in, first-out inventory method	(2)	32
Non-cash operating lease expense	57	58
Gain from sales of businesses and investments	(86)	(19)
Provision for bad debts	15	6
Other non-cash items	69	35
Changes in assets and liabilities:
Receivables	(2,101)	(2,380)
Inventories	(4,442)	(826)
Drafts and accounts payable	4,616	1,473
Operating lease liabilities	(96)	(80)
Taxes	(211)	236
Litigation liabilities	114	0
Other	(473)	(536)
Net cash used in operating activities	(1,380)	(1,052)
INVESTING ACTIVITIES
Payments for property, plant, and equipment	(106)	(78)
Capitalized software expenditures	(61)	(46)
Proceeds from sales of businesses and investments, net	90	39
Other	(10)	(64)
Net cash used in investing activities	(87)	(149)
FINANCING ACTIVITIES
Proceeds from short-term borrowings	1,361	65
Repayments of short-term borrowings	(1,361)	(65)
Proceeds from issuances of long-term debt	0	991
Repayments of long-term debt	0	(268)
Purchase of U.S. government obligations for the satisfaction and discharge of long-term debt	0	(647)
Common stock transactions:
Issuances	22	27
Share repurchases	(527)	(696)
Dividends paid	(82)	(74)
Other	(222)	(176)
Net cash used in financing activities	(809)	(843)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(5)	2
Net decrease in cash, cash equivalents, and restricted cash	(2,281)	(2,042)
Cash, cash equivalents, and restricted cash at beginning of period	4,585	4,679
Cash, cash equivalents, and restricted cash at end of period	2,304	2,637
Less: Restricted cash at end of period included in Prepaid expenses and other	(2)	(1)
Cash and cash equivalents at end of period	$ 2,302	$ 2,636

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Nature of Operations : McKesson Corporation together with its subsidiaries (collectively, the “Company” or “McKesson,”) is a diversified healthcare services leader dedicated to advancing health outcomes for patients everywhere. McKesson partners with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products, and services to help make quality care more accessible and affordable. The Company reports its financial results in four reportable segments: U.S. Pharmaceutical, Prescription Technology Solutions (“RxTS”), Medical-Surgical Solutions, and International. Refer to Financial Note 1 1 , “ Segments of Business ,” for additional information. Basis of Presentation: The condensed consolidated financial statements and accompanying notes are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial reporting and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and therefore do not include all information and disclosures normally included in the annual consolidated financial statements. The condensed consolidated financial statements of McKesson include the financial statements of all majority-owned or controlled companies. For those consolidated subsidiaries where the Company’s ownership is less than 100%, the portion of the net income or loss allocable to the noncontrolling interests is reported as “Net income attributable to noncontrolling interests” in the Condensed Consolidated Statements of Operations. All significant intercompany balances and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees. Net income attributable to noncontrolling interests includes third-party equity interests in the Company’s consolidated entities, including ClarusONE Sourcing Services LLP, Vantage Oncology Holdings, LLC, and SCRI Oncology, LLC. The Company considers itself to control an entity if it is the majority owner of or has voting control over such entity. The Company also assesses control through means other than voting rights and determines which business entity is the primary beneficiary of the variable interest entity (“VIE”). The Company consolidates VIEs when it is determined that it is the primary beneficiary of the VIE. Investments in business entities in which the Company does not have control, but instead has the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. Fiscal Period: The Company’s fiscal year begins on April 1 and ends on March 31. Unless otherwise noted, all references to a particular year means the Company’s fiscal year. Reclassifications: Certain prior period amounts have been reclassified to conform to the current year presentation. Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of these financial statements and income and expenses during the reporting period. Actual amounts could differ from those estimated amounts. In the opinion of management, the unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the results of operations, financial position, and cash flows of McKesson for the interim periods presented. The results of operations for the three months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be anticipated for the entire year. These interim financial statements should be read in conjunction with the annual audited financial statements, accounting policies, and financial notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, previously filed with the SEC on May 8, 2024 (the “2024 Annual Report”). Recently Adopted Accounting Pronouncements There were no accounting standards adopted during the first quarter of fiscal 2025 that had a material impact to the Company’s condensed consolidated financial statements or disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure s. ASU 2023-09 improves the transparency of income tax disclosures by requiring, on an annual basis, consistent categories, and greater disaggregation of information in the rate reconciliation as well as income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update should be applied prospectively, however, retrospective application is permitted. The Company is currently evaluating the impact that this guidance will have on its disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure s. ASU 2023-07 expands reportable segment disclosures by requiring disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss as well as an amount and description of other segment items. ASU 2023-07 also requires interim disclosures of a reportable segment’s profit or loss and assets, disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure of segment profit or loss in assessing performance and allocating resources. ASU 2023-07 is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact that this guidance will have on its disclosures. Recent Securities and Exchange Commission Final Rules Not Yet Implemented In March 2024, the SEC adopted final rules under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors , which would have required the Company to provide certain climate-related information in annual reports and registration statements beginning with its Annual Report on Form 10-K for the year ended March 31, 2026. In April 2024, the SEC stayed these rules pending the completion of judicial review of consolidated petitions challenging the validity of the rules. The Company is currently evaluating the impact of these rules in light of those legal challenges and monitoring the status of the stay and judicial review.

Restructuring, Impairment, and

Restructuring, Impairment, and Related Charges, Net	3 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring, Impairment, and Related Charges, Net	Restructuring, Impairment, and Related Charges, Net The Company recorded restructuring, impairment, and related charges, net of $10 million and $52 million for the three months ended June 30, 2024 and 2023, respectively. These charges were included in “Restructuring, impairment, and related charges, net” in the Condensed Consolidated Statements of Operations. Restructuring Initiatives During the fourth quarter of fiscal 2023, the Company approved a broad set of initiatives to drive operational efficiencies and increase cost optimization efforts, with the intent of simplifying its infrastructure and realizing long-term sustainable growth. These initiatives included headcount reductions, primarily consisting of employee severance and other employee-related costs within the RxTS segment, and the exit or downsizing of certain facilities. For the three months ended June 30, 2023, the Company recorded charges of $36 million related to this program, which primarily included real estate and other related asset impairments and facility costs within Corporate. This restructuring program was substantially complete in fiscal 2024. Restructuring, impairment, and related charges, net for the three months ended June 30, 2024 and 2023 consisted of the following: Three Months Ended June 30, 2024 (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Corporate Total Severance and employee-related costs, net $ — $ — $ — $ — $ (1) $ (1) Exit and other-related costs (1) — 3 3 — 2 8 Asset impairments and accelerated depreciation 1 1 — 1 — 3 Total $ 1 $ 4 $ 3 $ 1 $ 1 $ 10 (1) Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. Three Months Ended June 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate (1) Total Severance and employee-related costs, net $ 1 $ — $ — $ — $ 1 $ 2 Exit and other-related costs (2) 1 2 2 5 12 22 Asset impairments and accelerated depreciation — — — 1 27 28 Total $ 2 $ 2 $ 2 $ 6 $ 40 $ 52 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions. (2) Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the three months ended June 30, 2024: (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Corporate Total Balance, March 31, 2024 (1) $ 18 $ 5 $ 1 $ 10 $ 21 $ 55 Restructuring, impairment, and related charges, net 1 4 3 1 1 10 Non-cash charges (1) (1) — (1) — (3) Cash payments (3) (1) (4) (1) (5) (14) Other (2) (1) (2) — (1) (1) (5) Balance, June 30, 2024 (3) $ 14 $ 5 $ — $ 8 $ 16 $ 43 (1) As of March 31, 2024, the total reserve balance was $55 million, of which $24 million was recorded in “Other accrued liabilities” and $31 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet. (2) Other primarily includes cumulative translation adjustments within International and transfers to certain other liabilities. (3) As of June 30, 2024, the total reserve balance was $43 million, of which $13 million was recorded in “Other accrued liabilities” and $30 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was as follows: Three Months Ended June 30, (Dollars in millions) 2024 2023 Income tax expense $ 124 $ 94 Reported income tax rate 11.4 % 8.6 % Fluctuations in the Company’s reported income tax rates were primarily due to changes in the mix of earnings between various taxing jurisdictions and discrete items recognized in the quarters. During the three months ended June 30, 2024, the Company recognized a net discrete tax benefit of $125 million primarily driven by discrete tax benefits of $58 million related to an election to change the tax status of a foreign affiliate, $37 million related to the tax impact of share-based compensation, and $36 million related to the reduction in unrecognized tax benefits due to a change in case law. During the three months ended June 30, 2023, the Company repatriated certain intellectual property between McKesson wholly-owned legal entities that are based in different tax jurisdictions. The transferor entity of the intellectual property was not subject to income tax on this transaction. The recipient entity of the intellectual property is entitled to amortize the fair value of the assets for tax purposes. As a result of this repatriation, and in accordance with ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory , a net discrete tax benefit of $147 million was recognized in the first quarter of fiscal 2024. As of June 30, 2024, the Company had $1.4 billion of unrecognized tax benefits, of which $1.3 billion would reduce income tax expense and the effective tax rate if recognized. During the next twelve months, the Company does not anticipate any material reduction in its unrecognized tax benefits based on the information currently available. However, this may change as the Company continues to have ongoing discussions with various taxing authorities throughout the year.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. The computation of diluted earnings per common share is similar to that of basic earnings per common share, except that the former reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Potentially dilutive securities include outstanding stock options, restricted stock units, and performance-based restricted stock units. Less than one million of potentially dilutive securities for the three months ended June 30, 2024 and 2023 were excluded from the computation of diluted earnings per common share as they were anti-dilutive. The computations for basic and diluted earnings per common share were as follows: Three Months Ended June 30, (In millions, except per share amounts) 2024 2023 Net income $ 960 $ 997 Net income attributable to noncontrolling interests (45) (39) Net income attributable to McKesson Corporation $ 915 $ 958 Weighted-average common shares outstanding: Basic 129.8 135.5 Effect of dilutive securities: Stock options 0.1 0.2 Restricted stock units (1) 0.8 0.9 Diluted 130.7 136.6 Earnings per common share attributable to McKesson Corporation: (2) Diluted $ 7.00 $ 7.02 Basic $ 7.04 $ 7.07 (1) Includes dilutive effect from restricted stock units and performance-based restricted stock units. (2) Certain computations may reflect rounding adjustments.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill The Company evaluates goodwill for impairment on an annual basis in the first fiscal quarter, and more frequently if indicators for potential impairment exist. Goodwill impairment testing is conducted at the reporting unit level, which is generally defined as an operating segment or one level below an operating segment (also known as a component), for which discrete financial information is available and segment management regularly reviews the operating results of that reporting unit. The annual impairment testing performed in fiscal 2025 and fiscal 2024 did not indicate any impairment of goodwill. Changes in the carrying amount of goodwill were as follows: (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Total Balance, March 31, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,449 $ 10,132 Foreign currency translation adjustments, net — — — (14) (14) Balance, June 30, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,435 $ 10,118 Intangible Assets Information regarding intangible assets was as follows: June 30, 2024 March 31, 2024 (Dollars in millions) Weighted- Gross Accumulated Net Gross Accumulated Net Customer relationships 11 $ 1,825 $ (730) $ 1,095 $ 1,830 $ (701) $ 1,129 Service agreements 10 1,129 (690) 439 1,126 (676) 450 Trademarks and trade names 12 755 (405) 350 759 (395) 364 Technology 10 284 (129) 155 284 (125) 159 Other 7 32 (26) 6 34 (26) 8 Total $ 4,025 $ (1,980) $ 2,045 $ 4,033 $ (1,923) $ 2,110 All intangible assets were subject to amortization as of June 30, 2024 and March 31, 2024. Amortization expense of intangible assets was $63 million and $62 million for the three months ended June 30, 2024 and 2023, respectively. Estimated amortization expense of the assets listed in the table above is as follows: $183 million, $214 million, $207 million, $203 million, and $200 million for the remainder of fiscal 2025 and each of the succeeding years through fiscal 2029, respectively, and $1.0 billion thereafter.

Debt and Financing Activities

Debt and Financing Activities	3 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt and Financing Activities	Debt and Financing Activities Long-term debt consisted of the following: (In millions) June 30, 2024 March 31, 2024 U.S. Dollar notes (1) (2) 0.90% Notes due December 3, 2025 500 500 5.25% Notes due February 15, 2026 499 499 1.30% Notes due August 15, 2026 499 499 7.65% Debentures due March 1, 2027 150 150 3.95% Notes due February 16, 2028 343 343 4.90% Notes due July 15, 2028 399 399 4.75% Notes due May 30, 2029 196 196 5.10% Notes due July 15, 2033 597 596 6.00% Notes due March 1, 2041 218 218 4.88% Notes due March 15, 2044 255 255 Foreign currency notes (1) (3) 1.50% Euro Notes due November 17, 2025 642 646 1.63% Euro Notes due October 30, 2026 536 540 3.13% Sterling Notes due February 17, 2029 569 568 Lease and other obligations 232 220 Total debt 5,635 5,629 Less: Current portion 51 50 Total long-term debt $ 5,584 $ 5,579 (1) These notes are unsecured and unsubordinated obligations of the Company. (2) Interest on these U.S. dollar notes is payable semi-annually. (3) Interest on these foreign currency notes is payable annually. Long-Term Debt The Company’s long-term debt includes both U.S. dollar and foreign currency-denominated borrowings. At June 30, 2024 and March 31, 2024, $5.6 billion of total debt was outstanding, of which $51 million and $50 million, respectively, was included under the caption “Current portion of long-term debt” in the Company’s Condensed Consolidated Balance Sheets. Public Offerings On June 15, 2023, the Company completed a public offering of 4.90% Notes due July 15, 2028 in a principal amount of $400 million (the “2028 Notes”) and a public offering of 5.10% Notes due July 15, 2033 in a principal amount of $600 million (the “2033 Notes” and, together with the 2028 Notes, the “Notes”). Interest on the Notes is payable semi-annually on January 15th and July 15th of each year, commencing on January 15, 2024. Proceeds received from the issuance of the Notes, net of discounts and offering expenses, were $397 million for the 2028 Notes and $592 million for the 2033 Notes. The Company utilized a portion of the net proceeds from the offerings of the Notes to fund the purchase price payable with respect to the portion of the Company’s then outstanding 3.80% Notes due March 15, 2024 (the “2024 Notes”) that was validly tendered and accepted for purchase pursuant to the Concurrent Tender Offer (as defined below) and to effect the satisfaction and discharge of the remaining portion of the 2024 Notes, all of which is described further below. The remaining net proceeds from the offerings of the Notes was available for general corporate purposes. Each series of the Notes is an unsecured and unsubordinated obligation of the Company and ranks equally with all of the Company’s existing, and future unsecured and unsubordinated indebtedness that may be outstanding from time-to-time. The Notes are governed by an indenture and officers’ certificate that are materially similar to those of other series of notes issued by the Company. Upon at least 10 days’ and not more than 60 days’ notice to holders of the applicable series of the Notes, the Company may redeem either series of the Notes for cash in whole, at any time, or in part, from time to time, at redemption prices that include accrued and unpaid interest and a make-whole premium before a specified date, and at par plus accrued and unpaid interest thereafter until maturity, each as specified in the indenture and the officers’ certificate. If there were to occur both (a) a change of control of the Company and (b) a downgrade of the applicable series of the Notes below an investment grade rating by each of the Ratings Agencies (as defined in the officers’ certificate) within a specified period, then the Company would be required to make an offer to purchase those Notes at a price equal to 101% of the then outstanding principal amount of such Notes, plus accrued and unpaid interest to, but not including, the date of repurchase. The indenture and the related officers’ certificate for the Notes, subject to the exceptions and in compliance with the conditions as applicable, specify that the Company may not consolidate, merge or sell all or substantially all of its assets, incur liens, or enter into sale-leaseback transactions exceeding specific terms, without the lenders’ consent. The indenture also contains customary events of default provisions. Concurrent Tender Offer of the 2024 Notes On June 16, 2023, the Company completed a cash tender offer for any and all of its then outstanding 2024 Notes, which was made concurrently with the offerings of the Notes (the “Concurrent Tender Offer”). The Company paid an aggregate consideration of $268 million in the Concurrent Tender Offer to repurchase $271 million principal amount of the 2024 Notes at a repurchase price equal to 98.75% of the principal amount plus accrued and unpaid interest. The repurchase of the 2024 Notes accepted for purchase in the Concurrent Tender Offer was accounted for as a debt extinguishment. Satisfaction and Discharge of the 2024 Notes On June 16, 2023, after completing the Concurrent Tender Offer, the Company irrevocably deposited with the trustee under the indenture governing the 2024 Notes (the “2024 Notes Indenture”) U.S. government obligations in an amount sufficient to fund the payment of accrued and unpaid interest of the remaining $647 million principal amount of the 2024 Notes as it became due, and of the principal amount of those 2024 Notes on their March 15, 2024 maturity date. The U.S. government obligations were purchased using a portion of the net proceeds from the offerings of the Notes. After the deposit of such funds with the trustee, the Company’s obligations under the 2024 Notes Indenture with respect to the 2024 Notes were satisfied and discharged and the transaction was accounted for as a debt extinguishment. The total gain recognized on the debt extinguishments described above for the three months ended June 30, 2023 was $9 million and included within “Interest expense” in the Company’s Condensed Consolidated Statement of Operations. Revolving Credit Facilities On November 7, 2022, the Company entered into a Credit Agreement (the “2022 Credit Facility”), that provides a syndicated $4.0 billion senior unsecured credit facility with a $3.6 billion aggregate sublimit of availability in Canadian dollars, British pound sterling, and Euro. The 2022 Credit Facility is scheduled to mature in November 2028. There were no borrowings under the 2022 Credit Facility during the three months ended June 30, 2024 and 2023 and no amounts outstanding at June 30, 2024 or March 31, 2024. At June 30, 2024, the Company was in compliance with all covenants under the 2022 Credit Facility. Commercial Paper The Company maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. Under the program, the Company can issue up to $4.0 billion in outstanding commercial paper notes. During the three months ended June 30, 2024, the Company borrowed and repaid $1.4 billion under the program. During the three months ended June 30, 2023, the Company borrowed and repaid $65 million under the program. At June 30, 2024 and March 31, 2024, there were no commercial paper notes outstanding.

Hedging Activities

Hedging Activities	3 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities	Hedging Activities In the normal course of business, the Company is exposed to interest rate and foreign currency exchange rate fluctuations. At times, the Company limits these risks through the use of derivatives as described below. In accordance with the Company’s policy, derivatives are only used for hedging purposes. The Company does not use derivatives for trading or speculative purposes. The Company uses various counterparties for its derivative contracts to minimize the exposure to credit risk but does not anticipate non-performance by these parties. Foreign Currency Exchange Risk The Company conducts its business worldwide in U.S. dollars and the functional currencies of its foreign subsidiaries, including Canadian dollars. Changes in foreign currency exchange rates could have a material adverse impact on the Company’s financial results that are reported in U.S. dollars. The Company is also exposed to foreign currency exchange rate risk related to its foreign subsidiaries, including intercompany loans denominated in non-functional currencies. The Company has certain foreign currency exchange rate risk programs that use foreign currency forward contracts and cross-currency swaps. These forward contracts and cross-currency swaps are generally used to offset the potential income statement effects from intercompany loans and other obligations denominated in non-functional currencies. These programs reduce but do not entirely eliminate foreign currency exchange rate risk. Interest Rate Risk The Company has exposure to changes in interest rates, and it utilizes risk programs which use interest rate swaps to hedge the changes in debt fair values caused by fluctuations in benchmark interest rates. The Company also enters into forward contracts to hedge the variability of future benchmark interest rates on any planned bond issuances. These programs reduce but do not entirely eliminate interest rate risk. Derivative Instruments At June 30, 2024 and March 31, 2024, the notional amounts of the Company’s outstanding derivatives were as follows: June 30, 2024 March 31, 2024 (In millions) Currency Maturity Date (1) Notional Derivatives designated as net investment hedges: (2) Cross-currency swaps (3) CAD Apr-25 to Jun-26 C$ 2,500 C$ 1,500 Derivatives designated as fair value hedges: (2) Cross-currency swaps (4) GBP Nov-28 £ 450 £ 450 Cross-currency swaps (4) EUR Aug-25 to Jul-26 € 1,100 € 1,100 Floating interest rate swaps (5) USD Feb-26 to Sep-29 $ 1,250 $ 1,250 Derivatives designated as cash flow hedges: (2) Foreign currency forwards (6) GBP Jul-24 to Jul-25 £ 35 £ 39 (1) The maturity date reflected is for outstanding derivatives as of June 30, 2024. (2) There was no ineffectiveness in these hedges for the three months ended June 30, 2024 and 2023. (3) The Company agreed with third parties to exchange fixed interest payments in one currency for fixed interest payments in another currency at specified intervals and to exchange principal in one currency for principal in another currency, calculated by reference to agreed-upon notional amounts. (4) Represents cross-currency fixed-to-fixed interest rate swaps to mitigate the foreign currency exchange fluctuations on its foreign currency-denominated notes. (5) Represents fixed-to-floating interest rate swaps to hedge the changes in fair value caused by fluctuations in the benchmark interest rates. (6) The Company entered into agreements with financial institutions to hedge the variability of foreign currency exchange fluctuations in future cash payments due to a third party in the United Kingdom for capital expenditures. Net Investment Hedges The Company uses cross-currency swaps to hedge portions of the Company’s net investments denominated in Canadian dollars against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. The changes in the fair value of these derivatives attributable to the changes in spot currency exchange rates and differences between spot and forward interest rates are recorded in accumulated other comprehensive loss and offset foreign currency translation gains and losses recorded on the Company’s net investments denominated in Canadian dollars. To the extent cross-currency swaps designated as hedges are ineffective, changes in carrying value attributable to the change in spot rates are recorded in earnings. In the first quarter of fiscal 2025, the Company entered into cross-currency swaps designated as net investment hedges with a total notional amount of C$2.5 billion to hedge portions of the Company’s net investments denominated in Canadian dollars against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. These cross-currency swaps mature in April 2025 and June 2026. Further, the Company terminated C$1.5 billion of cross-currency swaps designated as net investment hedges with original maturity dates in November 2024 and extending through March 2025. Fair Value Hedges The Company uses cross-currency swaps to hedge the changes in the fair value of its foreign currency notes resulting from changes in benchmark interest rates and foreign currency exchange rates. The Company also uses floating interest rate swaps to hedge the changes in the fair value of its U.S. dollar notes resulting from changes in benchmark interest rates. The changes in the fair value of these derivatives and the offsetting changes in the fair value of the hedged notes are recorded in earnings. Gains and losses from the changes in the Company’s fair value hedges recorded in earnings were largely offset by the gains and losses recorded in earnings on the hedged item. For components excluded from the assessment of hedge effectiveness, the initial value of the excluded component is recognized in accumulated other comprehensive loss and then released into earnings over the life of the hedging instrument. The difference between the change in the fair value of the excluded component and the amount amortized into earnings during the period is recorded in other comprehensive income (loss). Cash Flow Hedges The Company uses cross-currency swaps to hedge intercompany loans denominated in non-functional currencies to reduce the income statement effects arising from fluctuations in foreign currency exchange rates. The Company also uses forward contracts to hedge the variability of future benchmark interest rates on any planned bond issuances and to offset the potential income statement effects from obligations denominated in non-functional currencies. The effective portion of changes in the fair value of these hedges is recorded in accumulated other comprehensive loss and reclassified into earnings in the same period in which the hedged transaction affects earnings. Changes in fair values representing hedge ineffectiveness are recognized in current earnings. There were no gains or losses reclassified from accumulated other comprehensive loss and recorded in “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2024 or 2023. In fiscal 2023, the Company entered into forward-starting fixed interest rate swaps designated as cash flow hedges with a combined notional amount of $450 million, and in the first quarter of fiscal 2024 with a notional amount of $50 million, to hedge the variability of future benchmark interest rates on a planned bond issuance. On June 15, 2023, the Company completed a public offering of the 2033 Notes, at which point the $500 million cash flow hedges were terminated and the proceeds are being amortized to interest expense over the life of the 2033 Notes, or 10 years. Refer to F inancial Note 6 , “ Debt and Financing Activities ,” for additional information on the public offering of the 2033 Notes. Derivatives Not Designated as Hedges Derivative instruments not designated as hedges are marked-to-market at the end of each accounting period with the change in fair value included in earnings. Changes in the fair values for contracts not designated as hedges are recorded directly into earnings in “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations. The Company did not enter into or have any outstanding derivative instruments not designated as hedges during the periods presented. Other Information on Derivative Instruments Gains (losses) from derivatives included in other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income were as follows: Three Months Ended June 30, (In millions) 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ 7 $ (20) Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ — $ (6) Foreign currency forwards — — Fixed interest rate swaps — 16 (1) Includes other comprehensive income (loss) related to the excluded component of certain fair value hedges. Information regarding the fair value of derivatives on a gross basis were as follows: Balance Sheet June 30, 2024 March 31, 2024 Fair Value of U.S. Dollar Notional Fair Value of U.S. Dollar Notional (In millions) Asset Liability Asset Liability Derivatives designated for hedge accounting: Cross-currency swaps (current) Prepaid expenses and other/Other accrued liabilities $ — $ 3 $ 1,095 $ 13 $ 1 $ 1,122 Cross-currency swaps (non-current) Other non-current assets/liabilities 100 3 2,366 108 — 1,638 Interest rate swaps (non-current) Other non-current liabilities — 36 1,250 — 35 1,250 Foreign currency forwards (current) Prepaid expenses and other/Other accrued liabilities — — 41 — — 35 Foreign currency forwards (non-current) Other non-current assets — — 3 — — 15 Total $ 100 $ 42 $ 121 $ 36 Refer to Financial Note 8 , " Fair Value Measurements ," for more information on these recurring fair value measurements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures certain assets and liabilities at fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures . The fair value hierarchy consists of three levels of inputs that may be used to measure fair value as follows: Level 1 - quoted prices in active markets for identical assets or liabilities. Level 2 - significant other observable market-based inputs. Level 3 - significant unobservable inputs for which little or no market data exists and requires considerable assumptions that are significant to the fair value measurement. Assets and Liabilities Measured at Fair Value on a Recurring Basis Cash and cash equivalents at June 30, 2024 and March 31, 2024 included investments in money market funds of $627 million and $705 million, respectively, which are reported at fair value. The fair value of money market funds was determined using quoted prices for identical investments in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosure guidance. The carrying value of all other cash equivalents approximates their fair value due to their relatively short-term nature. Fair values of the Company’s interest rate swaps, cross-currency swaps, and foreign currency forward contracts were determined using observable inputs from available market information, including quoted interest rates, foreign currency exchange rates, and other observable inputs from available market information. These inputs are considered Level 2 under the fair value measurements and disclosure guidance, and may not be representative of actual values that could have been realized or that will be realized in the future. Refer to Financial Note 7 , “ Hedging Activities , ” for fair values and other information on the Company’s derivatives. The Company holds investments in equity and debt securities of U.S. growth stage companies that address both current and emerging business challenges in the healthcare industry and which had a carrying value of $189 million and $240 million at June 30, 2024 and March 31, 2024, respectively. These investments primarily consist of equity securities without readily determinable fair values and are included in “Other non-current assets” in the Condensed Consolidated Balance Sheets. The carrying value of publicly-traded investments, which was not material for the periods presented, was determined using quoted prices for identical investments in active markets and are considered to be Level 1 inputs. The net realized and unrealized gains and losses as well as impairment charges related to these investments were a net gain of $110 million for the three months ended June 30, 2024 and an immaterial net loss for the three months ended June 30, 2023 which are included within “Other income, net” in the Condensed Consolidated Statements of Operations. The net gain recognized for the three months ended June 30, 2024 primarily relates to a recapitalization event of one of the Company’s investments in equity securities which resulted in an increase to the carrying value of this investment. The Company recognized a net gain of $97 million related to this event and sold a portion of its investment for proceeds of $89 million. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company’s assets and liabilities are also subject to nonrecurring fair value measurements. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges or as a result of charges to remeasure assets classified as held for sale to fair value less costs to sell. The aforementioned investments in equity securities of U.S. growth stage companies include the carrying value of investments without readily determinable fair values, which were determined using a measurement alternative and are recorded at cost less impairment, plus or minus any changes in observable price from orderly transactions of the same or similar security of the same issuer. These inputs related to changes in observable price are considered Level 2 under the fair value measurements and disclosure guidance and may not be representative of actual values that could have been realized or that will be realized in the future. Inputs related to impairments of investments are generally considered Level 3 fair value measurements due to their inherently unobservable nature based on significant assumptions by management and use of company-specific information. There were no other material assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2024 and March 31, 2024. Other Fair Value Disclosures At June 30, 2024 and March 31, 2024, the carrying amounts of cash, certain cash equivalents, restricted cash, receivables, drafts and accounts payable, and other current assets and liabilities approximated their estimated fair values because of the short-term maturity of these financial instruments. The Company determines the fair value of commercial paper using quoted prices in active markets for identical instruments, which are considered Level 1 inputs under the fair value measurements and disclosure guidance. The Company’s long-term debt is recorded at amortized cost. The carrying value and fair value of the Company’s long-term debt was as follows: June 30, 2024 March 31, 2024 (In millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 5,635 $ 5,487 $ 5,629 $ 5,488 The estimated fair value of the Company’s long-term debt was determined using quoted market prices in a less active market and other observable inputs from available market information, which are considered to be Level 2 inputs, and may not be representative of actual values that could have been realized or that will be realized in the future. Goodwill Fair value assessments of the reporting unit and the reporting unit's net assets, which are performed for goodwill impairment tests, are considered a Level 3 measurement due to the significance of unobservable inputs developed using company-specific information. The Company considered a market approach as well as an income approach using a discounted cash flow (“DCF”) model to determine the fair value of each reporting unit. Long-lived Assets The Company utilizes multiple approaches, including the DCF model and market approaches, for estimating the fair value of intangible assets. The future cash flows used in the analysis are based on internal cash flow projections from its long-range plans and include significant assumptions by management. Accordingly, the fair value assessment of long-lived assets is considered a Level 3 fair value measurement. The Company measures certain long-lived and intangible assets at fair value on a nonrecurring basis when events occur that indicate an asset group may not be recoverable. If the carrying amount of an asset group is not recoverable, an impairment charge is recorded to reduce the carrying amount by the excess over its fair value.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities In addition to commitments and obligations incurred in the ordinary course of business, the Company is subject to a variety of claims and legal proceedings, including claims from customers and vendors, pending and potential legal actions for damages, governmental investigations, and other matters. The Company and its affiliates are parties to the legal claims and proceedings described below and in Financial Note 17 to the Company’s 202 4 Annual Report , which disclosure is incorporated in this footnote by this reference. The Company is vigorously defending itself against those claims and in those proceedings. Significant developments in those matters are described below. If the Company is unsuccessful in defending, or if it determines to settle, any of these matters, it may be required to pay substantial sums, be subject to injunction and/or be forced to change how it operates its business, which could have a material adverse impact on its financial position or results of operations. Unless otherwise stated, the Company is unable to reasonably estimate the loss or a range of possible loss for the matters described below. Often, the Company is unable to determine that a loss is probable, or to reasonably estimate the amount of loss or a range of loss, for a claim because of the limited information available and the potential effects of future events and decisions by third parties, such as courts and regulators, that will determine the ultimate resolution of the claim. Many of the matters described are at preliminary stages, raise novel theories of liability, or seek an indeterminate amount of damages. It is not uncommon for claims to remain unresolved over many years. The Company reviews loss contingencies at least quarterly to determine whether the likelihood of loss has changed and whether it can make a reasonable estimate of the loss or range of loss. When the Company determines that a loss from a claim is probable and reasonably estimable, it records a liability for an estimated amount. The Company also provides disclosure when it is reasonably possible that a loss may be incurred or when it is reasonably possible that the amount of a loss will exceed its recorded liability. Amounts included within “Claims and litigation charges, net” in the Condensed Consolidated Statements of Operations consist of estimated loss contingencies related to opioid-related litigation matters, as well as any applicable income items or credit adjustments due to subsequent changes in estimates. I. Litigation and Claims Involving Distribution of Controlled Substances The Company and its affiliates have been sued as defendants in many cases asserting claims related to distribution of controlled substances. They have been named as defendants along with other pharmaceutical wholesale distributors, pharmaceutical manufacturers, and retail pharmacies. The plaintiffs in these actions have included state attorneys general, county and municipal governments, school districts, tribal nations, hospitals, health and welfare funds, third-party payors, and individuals. These actions have been filed in state and federal courts throughout the U.S., and in Puerto Rico and Canada. They have sought monetary damages and other forms of relief based on a variety of causes of action, including negligence, public nuisance, unjust enrichment, and civil conspiracy, as well as alleging violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”), state and federal controlled substances laws, and other statutes. Because of the many uncertainties associated with opioid-related litigation matters, the Company is not able to conclude that a liability is probable or provide a reasonable estimate for the range of ultimate possible loss for opioid-related litigation matters other than those for which an accrual is described below. State and Local Government Claims The Company and two other national pharmaceutical distributors (collectively “Distributors”) entered into a settlement agreement (the “Settlement”) and consent judgment with 48 states and their participating subdivisions, as well as the District of Columbia and all eligible territories (the “Settling Governmental Entities”). Approximately 2,300 cases have been dismissed. The Distributors did not admit liability or wrongdoing and do not waive any defenses pursuant to the Settlement. Under the Settlement, the Company has paid the Settling Governmental Entities approximately $1.5 billion as of June 30, 2024, and additionally will pay the Settling Governmental Entities up to approximately $6.3 billion through 2038. A minimum of 85% of the Settlement payments must be used by state and local governmental entities to remediate the opioid epidemic, while the remainder relates to plaintiffs’ attorneys’ fees and costs and will be paid out through 2030. Pursuant to the Settlement, the Distributors are in the process of establishing a clearinghouse to consolidate their controlled-substance distribution data, which will be available to the settling U.S. states to use as part of their anti-diversion efforts. Alabama and West Virginia did not participate in the Settlement. Under a separate settlement agreement with Alabama and its subdivisions, the Company has paid approximately $61 million as of June 30, 2024, and additionally will pay approximately $113 million through 2031. The Company previously settled with the state of West Virginia in 2018, so West Virginia and its subdivisions were not eligible to participate in the Settlement. Under a separate settlement agreement, the Company has paid certain West Virginia subdivisions approximately $53 million as of June 30, 2024, and additionally will pay approximately $99 million through 2033. That agreement does not include school districts or the claims of Cabell County and the City of Huntington. After a trial, the claims of Cabell County and the City of Huntington, were decided in the Company’s favor on July 4, 2022. Those subdivisions appealed that decision. Some other state and local governmental subdivisions did not participate in the Settlement, including certain municipal governments, government hospitals, school districts, and government-affiliated third-party payors. The Company contends that those subdivisions’ claims are foreclosed by the Settlement or other dispositive defenses, but the subdivisions contend that their claims are not foreclosed. The City of Baltimore, Maryland, is one such subdivision, and a trial of its claims is scheduled to begin September 16, 2024. The district attorneys of the City of Philadelphia, Pennsylvania, and Allegheny County, Pennsylvania did not participate in the settlement and sought to bring separate claims against the Company, notwithstanding the settlement with the state of Pennsylvania and its attorney general. On January 26, 2024, the Commonwealth Court of Pennsylvania ruled that the Pennsylvania attorney general had settled and fully released the claims brought by those district attorneys under Pennsylvania’s Unfair Trade Practices and Consumer Protection Law. The district attorneys have appealed that decision to the Supreme Court of Pennsylvania. An accrual for the remaining governmental subdivision claims is reflected in the total estimated liability for opioid-related claims in a manner consistent with how Settlement amounts were allocated to Settling Governmental Entities. Native American Tribe Claims The Company also entered into settlement agreements for opioid-related claims of federally recognized Native American tribes. Under those agreements, the Company has paid the settling Native American tribes approximately $84 million as of June 30, 2024, and additionally will pay approximately $112 million through 2027. A minimum of 85% of the total settlement payments must be used by the settling Native American tribes to remediate the opioid epidemic. Non-Governmental Plaintiff Claims The Company is also a defendant in approximately 400 opioid-related cases brought in the U.S. by private plaintiffs, such as hospitals, health and welfare funds, third-party payors, and individuals. These claims, and those of private entities generally, are not included in the settlement agreements described above. One such case was brought by a group of individual plaintiffs in Glynn County, Georgia Superior Court seeking to recover for damages allegedly arising from their family members’ abuse of prescription opioids. Poppell v. Cardinal Health, Inc., CE19-00472. On March 1, 2023, the jury in that case returned a verdict in favor of the defendants, including the Company. Plaintiffs have appealed. The Company and two other national distributors have reached agreements in principle with representatives of nationwide groups of acute care hospitals and certain third-party payors. With respect to the acute care hospitals, for the year ended March 31, 2024, the Company recorded a charge of $149 million within “Claims and litigation charges, net” in the Consolidated Statement of Operations to reflect its portion of a proposed settlement with a nationwide class of acute care hospitals, of which $75 million was recorded within Corporate expenses, net, and $74 million was recorded within U.S. Pharmaceutical. The corresponding liability was included within “Other accrued liabilities” in the Consolidated Balance Sheet. The proposed settlement is subject to, among other things, court approval and sufficient participation by hospitals. The trial for one of those acute care hospital cases, Fort Payne Hospital Corporation et al. v. McKesson Corp., CV-2021-900016, has been stayed as to the Company. With respect to the third-party payors, the Company has reached an agreement in principle with representatives of a nationwide group of certain third-party payors. For the three months ended June 30, 2024, we recorded a charge of $114 million within “Claims and litigation charges, net” in the Condensed Consolidated Statement of Operations to reflect the Company’s portion of the proposed settlement with representatives of a nationwide group of certain third-party payors, of which $57 million was recorded within Corporate expenses, net, and $57 million was recorded within U.S. Pharmaceutical. The corresponding liability was included within “Other accrued liabilities” in the Condensed Consolidated Balance Sheet. The proposed settlement is subject to, among other things, court approval and sufficient participation by third-party payors. The claims of remaining U.S. non-governmental plaintiffs are not included in the charges recorded by the Company. The Company’s estimated accrued liability for the opioid-related claims of U.S. governmental entities, including Native American tribes, and certain non-governmental plaintiffs, including a proposed settlement with a nationwide class of acute care hospitals and certain third-party payors, was as follows: (In millions) June 30, 2024 March 31, 2024 Current litigation liabilities (1) $ 778 $ 665 Long-term litigation liabilities 6,114 6,113 Total litigation liabilities $ 6,892 $ 6,778 (1) These amounts, recorded in “Other accrued liabilities” in the Condensed Consolidated Balance Sheets, are the amounts estimated to be paid within the next twelve months following each respective period end date. During the three months ended June 30, 2024, the Company made no payments associated with the Settlement and the separate settlement agreements for opioid-related claims discussed above. In July 2024, the Company made payments totaling $500 million associated with the Settlement and the separate settlement agreements. Canadian Plaintiff Claims The Company and its Canadian affiliate are also defendants in four opioid-related cases pending in Canada. These cases involve the claims of the provincial governments, municipal governments, a group representing indigenous people, as well as one case brought by an individual. Defense of Opioids Claims The Company believes it has valid legal defenses in all opioid-related matters, including claims not covered by settlement agreements, and it intends to mount a vigorous defense in such matters. Other than the accruals described above, the Company has not concluded a loss is probable in any of the matters; nor is any possible loss or range of loss reasonably estimable. An adverse judgment or negotiated resolution in any of these matters could have a material adverse impact on the Company’s financial position, cash flows or liquidity, or results of operations. II. Other Litigation and Claims In July 2015, The Great Atlantic & Pacific Tea Company (“A&P”), a former customer of the Company, filed for reorganization in bankruptcy under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. In re The Great Atlantic & Pacific Tea Company, Inc., et al. , Case No. 15-23007. A suit filed in 2017 against the Company in this bankruptcy case seeks to recover alleged preferential transfers. The Official Committee of Unsecured Creditors on behalf of the bankruptcy estate of The Great Atlantic & Pacific Tea Company, Inc., et al. v. McKesson Corporation d/b/a McKesson Drug Co. , Adv. Proc. No. 17-08264. Trial concluded on July 18, 2024. The outcome of that trial is pending. In July 2020, the Company was served with a first amended qui tam complaint filed in the United States District Court for the Southern District of New York by a relator on behalf of the United States, 27 states and the District of Columbia against McKesson Corporation, McKesson Specialty Distribution LLC, and McKesson Specialty Care Distribution Corporation, alleging that defendants violated the Anti-Kickback Statute, federal False Claims Act, and various state false claims statutes by providing certain business analytical tools to oncology practice customers, United States ex rel. Hart v. McKesson Corporation, et al. , 15-cv-00903-RA. The United States and the named states have declined to intervene in the case. The complaint seeks relief including damages, treble damages, civil penalties, attorney fees, and costs of suit, all in unspecified amounts. The relator filed the second amended complaint on June 7, 2022, which was dismissed by the district court on March 28, 2023. On March 12, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of claims under the Anti-Kickback Statute and federal False Claims Act, vacated the dismissal of the remaining claims, and remanded for further proceedings. On June 7, 2024, the relator filed a petition seeking review by the U.S. Supreme Court. III. Government Subpoenas and Investigations From time to time, the Company receives subpoenas or requests for information from various government agencies. The Company generally responds to such subpoenas and requests in a cooperative, thorough, and timely manner. These responses sometimes require time and effort and can result in considerable costs being incurred by the Company. Such subpoenas and requests can lead to the assertion of claims or the commencement of civil or criminal legal proceedings against the Company and other members of the health care industry, as well as to settlements of claims against the Company. The Company responds to these requests in the ordinary course of business. On May 19, 2021, the Norwegian Competition Authority carried out an inspection of Norsk Medisinaldepot AS regarding its and its competitors alleged sharing of competitively sensitive information. On June 28, 2024, the Norwegian Competition Authority announced that it closed the investigation without finding grounds to continue the case. IV. State Opioid Statutes In April 2018, the State of New York Opioid Stewardship Act (“OSA”) imposed an aggregate $100 million annual surcharge for 2017 and 2018 on all manufacturers and distributors licensed to sell or distribute opioids in New York. In December 2021, the Company paid $26 million for the 2017 OSA surcharge assessment. On May 18, 2022, the Company filed a lawsuit in New York state court challenging the constitutionality of the OSA. In November 2022, the Company received a 2018 OSA surcharge assessment of approximately $42 million, which the Company subsequently paid. On December 14, 2022, the state court ruled that the OSA is constitutional. On May 23, 2024, the New York Supreme Court, Appellate Division, held that the 2017 assessment was unconstitutional but that the 2018 assessment was not. The State of New York appealed the portion of the decision regarding the 2017 assessment to the NY Court of Appeals on June 24, 2024, and the Company cross-appealed the decision regarding the 2018 assessment. The Company reserves its rights and intends to vigorously challenge the OSA and the OSA surcharge assessments. V. Antitrust Settlement In May 2024, the Company received proceeds of $90 million related to its share of an antitrust settlement. A lawsuit was filed against a brand manufacturer alleging that the manufacturer, by itself or in concert with others, took improper actions to delay or prevent generic drugs from entering the market. The Company was not a named party to the litigation but was a member of the class of those who purchased directly from the pharmaceutical manufacturer. The Company recognized a gain in that amount within "Cost of sales" in the Condensed Consolidated Statement of Operations in the first quarter of fiscal 2025 related to the settlement.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Deficit	Stockholders' Deficit Each share of the Company’s outstanding common stock is permitted one vote on proposals presented to stockholders and is entitled to participate equally in any dividends declared by the Company’s Board of Directors (the “Board”). In July 2024, the Company’s quarterly dividend was raised from $0.62 to $0.71 per share of common stock for dividends declared on or after such date by the Board. The Company anticipates that it will continue to pay quarterly cash dividends in the future. However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company's future earnings, financial condition, capital requirements, legal requirements, and other factors. Share Repurchase Plans The Board has authorized the repurchase of common stock. The Company may repurchase common stock from time-to-time through open market transactions, privately negotiated transactions, accelerated share repurchase programs, or by combinations of such methods, any of which may use pre-arranged trading plans that are designed to meet the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934. The timing of any repurchases and the actual number of shares repurchased will depend on a variety of factors, including the Company’s stock price, corporate and regulatory requirements, tax implications, restrictions under the Company’s debt obligations, other uses for capital, impacts on the value of remaining shares, cash generated from operations, and market and economic conditions. During the three months ended June 30, 2024, the Company repurchased 1.0 million shares of common stock for $528 million through open market transactions at an average price per share of $548.20. During the three months ended June 30, 2023, the Company repurchased 1.8 million shares of common stock for $673 million through open market transactions at an average price per share of $379.14. Effective January 1, 2023, the Company’s repurchase of common stock, adjusted for allowable items, are subject to a 1% excise tax as a result of the Inflation Reduction Act of 2022. Excise taxes incurred on share repurchases of an entity’s own common stock are direct and incremental costs to purchase treasury stock, and accordingly are included in the total cost basis of the common stock acquired and reflected as a reduction of stockholders’ equity within “Treasury shares” in the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Stockholders’ Deficit. Excise taxes do not reduce the Company’s remaining authorization for the repurchase of common stock. Excise taxes of $1 million and $4 million were incurred and accrued for shares repurchased during the three months ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and March 31, 2024, the amounts accrued for excise taxes were $26 million and $25 million, respectively, within “Other accrued liabilities” in the Company’s Condensed Consolidated Balance Sheets. The total remaining authorization outstanding for repurchases of common stock at June 30, 2024 was $6.1 billion. In July 2024, the Board approved an increase of $4.0 billion in the authorization for the repurchase of common stock. Accumulated Other Comprehensive Loss Information regarding changes in accumulated other comprehensive loss, including noncontrolling interests, by components for the three months ended June 30, 2024 and 2023 was as follows: Foreign Currency Translation Adjustments (In millions) Foreign Currency Translation Adjustments, Net of Tax (1) Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax (2) Unrealized Gains on Cash Flow and Other Hedges, Unrealized Losses and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, March 31, 2024 $ (856) $ (12) $ 3 $ (16) $ (881) Other comprehensive income (loss) before reclassifications (36) 5 — (1) (32) Amounts reclassified to earnings and other — — — — — Other comprehensive income (loss) (36) 5 — (1) (32) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (36) 5 — (1) (32) Balance, June 30, 2024 $ (892) $ (7) $ 3 $ (17) $ (913) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Norway into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the three months ended June 30, 2024 include gains of $7 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $2 million. Foreign Currency Translation Adjustments (In millions) Foreign Currency Translation Adjustments, Net of Tax (1) Unrealized Losses on Net Investment Hedges, Net of Tax (2) Unrealized Gains (Losses) on Cash Flow and Other Hedges, Net of Tax (3) Unrealized Losses and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, March 31, 2023 $ (847) $ (14) $ (36) $ (8) $ (905) Other comprehensive income (loss) before reclassifications 67 (15) 7 (2) 57 Amounts reclassified to earnings and other — — — — — Other comprehensive income (loss) 67 (15) 7 (2) 57 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 67 (15) 7 (2) 57 Balance, June 30, 2023 $ (780) $ (29) $ (29) $ (10) $ (848) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Norway into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the three months ended June 30, 2023 include losses of $20 million related to net investment hedges from cross-currency swaps, which are net of income tax benefit of $5 million. (3) Amounts recorded for the three months ended June 30, 2023 include losses of $6 million related to cash flow and other hedges from cross-currency swaps and gains of $16 million related to cash flow hedges from fixed interest rate swaps. These amounts are net of income tax expense of $3 million.

Segments of Business

Segments of Business	3 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segments of Business	Segments of Business The Company reports its financial results in four reportable segments: U.S. Pharmaceutical, RxTS, Medical-Surgical Solutions, and International. The organizational structure also includes Corporate, which consists of income and expenses associated with administrative functions and projects, and the results of certain investments. The factors for determining the reportable segments include the manner in which management evaluates the performance of the Company combined with the nature of the individual business activities. The Company evaluates the performance of its operating segments on a number of measures, including revenues and operating profit before interest expense and income taxes. Assets by operating segment are not reviewed by management for the purpose of assessing performance or allocating resources. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products in the U.S. This segment also provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices. In addition, the segment sells financial, operational, and clinical solutions to pharmacies (retail, hospital, alternate sites) and provides consulting, outsourcing, technological, and other services. The RxTS segment helps solve medication access, affordability, and adherence challenges for patients by working across healthcare to connect patients, pharmacies, providers, pharmacy benefit managers, health plans, and biopharma companies. RxTS serves our biopharma and life sciences partners, delivering innovative solutions that help people get the medicine they need to live healthier lives. RxTS also offers prescription price transparency, benefit insight, dispensing support services, third-party logistics, and wholesale distribution support across various therapeutic categories and temperature ranges to biopharma customers throughout the product lifecycle. The Medical-Surgical Solutions segment provides medical-surgical supply distribution, logistics, and other services to healthcare providers, including physician offices, surgery centers, nursing homes, hospital reference labs, and home health care agencies. This segment offers national brand medical-surgical products as well as McKesson’s own line of high-quality products through a network of distribution centers in the U.S. The International segment includes the Company’s operations in Canada and Norway, bringing together non-U.S.-based drug distribution services, specialty pharmacy, retail, and infusion care services. The Company’s Canadian operations deliver medicines, supplies, and information technology solutions throughout Canada and include Rexall Health retail pharmacies. The Company’s Norwegian operations provide distribution and services to wholesale and retail customers in Norway where it owns, partners, or franchises with retail pharmacies. Financial information relating to the Company’s reportable operating segments and reconciliations to the condensed consolidated totals was as follows: Three Months Ended June 30, (In millions) 2024 2023 Segment revenues (1) U.S. Pharmaceutical $ 71,715 $ 67,160 Prescription Technology Solutions 1,241 1,244 Medical-Surgical Solutions 2,636 2,611 International 3,691 3,468 Total revenues $ 79,283 $ 74,483 Segment operating profit (2) U.S. Pharmaceutical (3) $ 781 $ 827 Prescription Technology Solutions (4) 203 231 Medical-Surgical Solutions 188 227 International 90 57 Subtotal 1,262 1,342 Corporate expenses, net (5) (103) (204) Interest expense (75) (47) Income before income taxes $ 1,084 $ 1,091 (1) Revenues from services on a disaggregated basis represent approximately 1% of the U.S. Pharmaceutical segment’s total revenues, less than 39% of the RxTS segment’s total revenues, less than 1% of the Medical-Surgical Solutions segment’s total revenues, and less than 1% of the International segment’s total revenues. The International segment reflects foreign revenues. Revenues for the remaining three reportable segments are derived in the U.S. (2) Segment operating profit includes gross profit, net of total operating expenses, as well as other income, net, for the Company’s reportable segments. (3) The Company’s U.S. Pharmaceutical segment’s operating profit includes the following: • cash receipts for the Company’s share of antitrust legal settlements of $90 million and $118 million for the three months ended June 30, 2024 and 2023, respectively. These gains were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • a charge of $57 million for the three months ended June 30, 2024 related to the estimated liability for opioid-related claims, as discussed in more detail in Financial Note 9 , “ Commitments and Contingent Liabilities ;" • a loss of $43 million for the three months ended June 30, 2024 related to one of the Company’s equity method investments, which was recorded within “Other income, net” in the Company’s Condensed Consolidated Statement of Operations; and • a credit of $2 million and a charge of $32 million related to the last-in, first-out method of accounting for inventories for the three months ended June 30, 2024 and 2023, respectively. These amounts were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations. (4) The Company’s RxTS segment’s operating profit for the three months ended June 30, 2023 includes a gain of $28 million resulting from a fair value adjustment of the Company’s contingent consideration liability related to the acquisition of Rx Savings Solutions, LLC completed in November 2022. (5) Corporate expenses, net includes the following: • a net gain of $110 million for the three months ended June 30, 2024 related to the Company’s investments in equity securities of certain U.S. growth stage companies in the healthcare industry, as discussed in more detail in Financial Note 8 , “ Fair Value Measurements ; ” • a net charge of $55 million for the three months ended June 30, 2024 related to the estimated liability for opioid-related claims, as discussed in more detail in Financial Note 9, “Commitments and Contingent Liabilities;" and • restructuring charges of $40 million for the three months ended June 30, 2023 for restructuring initiatives as discussed in more detail in Financial Note 2 , “ Restructuring, Impairment, and Related Charges, Net . ”

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 915	$ 958

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The condensed consolidated financial statements and accompanying notes are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial reporting and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and therefore do not include all information and disclosures normally included in the annual consolidated financial statements. The condensed consolidated financial statements of McKesson include the financial statements of all majority-owned or controlled companies. For those consolidated subsidiaries where the Company’s ownership is less than 100%, the portion of the net income or loss allocable to the noncontrolling interests is reported as “Net income attributable to noncontrolling interests” in the Condensed Consolidated Statements of Operations. All significant intercompany balances and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees. Net income attributable to noncontrolling interests includes third-party equity interests in the Company’s consolidated entities, including ClarusONE Sourcing Services LLP, Vantage Oncology Holdings, LLC, and SCRI Oncology, LLC.
Fiscal Period	Fiscal Period: The Company’s fiscal year begins on April 1 and ends on March 31. Unless otherwise noted, all references to a particular year means the Company’s fiscal year.
Reclassifications	Reclassifications: Certain prior period amounts have been reclassified to conform to the current year presentation.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of these financial statements and income and expenses during the reporting period. Actual amounts could differ from those estimated amounts. In the opinion of management, the unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the results of operations, financial position, and cash flows of McKesson for the interim periods presented.
Recently Adopted Accounting Pronouncements, Recently Issued Accounting Pronouncements Not Yet Adopted, and Recent Securities and Exchange Commission Final Rules Not Yet Implemented	Recently Adopted Accounting Pronouncements There were no accounting standards adopted during the first quarter of fiscal 2025 that had a material impact to the Company’s condensed consolidated financial statements or disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure s. ASU 2023-09 improves the transparency of income tax disclosures by requiring, on an annual basis, consistent categories, and greater disaggregation of information in the rate reconciliation as well as income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update should be applied prospectively, however, retrospective application is permitted. The Company is currently evaluating the impact that this guidance will have on its disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure s. ASU 2023-07 expands reportable segment disclosures by requiring disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss as well as an amount and description of other segment items. ASU 2023-07 also requires interim disclosures of a reportable segment’s profit or loss and assets, disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure of segment profit or loss in assessing performance and allocating resources. ASU 2023-07 is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact that this guidance will have on its disclosures. Recent Securities and Exchange Commission Final Rules Not Yet Implemented In March 2024, the SEC adopted final rules under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors , which would have required the Company to provide certain climate-related information in annual reports and registration statements beginning with its Annual Report on Form 10-K for the year ended March 31, 2026. In April 2024, the SEC stayed these rules pending the completion of judicial review of consolidated petitions challenging the validity of the rules. The Company is currently evaluating the impact of these rules in light of those legal challenges and monitoring the status of the stay and judicial review.
Fair Value	The Company measures certain assets and liabilities at fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures . The fair value hierarchy consists of three levels of inputs that may be used to measure fair value as follows: Level 1 - quoted prices in active markets for identical assets or liabilities. Level 2 - significant other observable market-based inputs. Level 3 - significant unobservable inputs for which little or no market data exists and requires considerable assumptions that are significant to the fair value measurement. Assets and Liabilities Measured at Fair Value on a Recurring Basis Cash and cash equivalents at June 30, 2024 and March 31, 2024 included investments in money market funds of $627 million and $705 million, respectively, which are reported at fair value. The fair value of money market funds was determined using quoted prices for identical investments in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosure guidance. The carrying value of all other cash equivalents approximates their fair value due to their relatively short-term nature. Fair values of the Company’s interest rate swaps, cross-currency swaps, and foreign currency forward contracts were determined using observable inputs from available market information, including quoted interest rates, foreign currency exchange rates, and other observable inputs from available market information. These inputs are considered Level 2 under the fair value measurements and disclosure guidance, and may not be representative of actual values that could have been realized or that will be realized in the future. Refer to Financial Note 7 , “ Hedging Activities , ” for fair values and other information on the Company’s derivatives. The Company holds investments in equity and debt securities of U.S. growth stage companies that address both current and emerging business challenges in the healthcare industry and which had a carrying value of $189 million and $240 million at June 30, 2024 and March 31, 2024, respectively. These investments primarily consist of equity securities without readily determinable fair values and are included in “Other non-current assets” in the Condensed Consolidated Balance Sheets. The carrying value of publicly-traded investments, which was not material for the periods presented, was determined using quoted prices for identical investments in active markets and are considered to be Level 1 inputs. The net realized and unrealized gains and losses as well as impairment charges related to these investments were a net gain of $110 million for the three months ended June 30, 2024 and an immaterial net loss for the three months ended June 30, 2023 which are included within “Other income, net” in the Condensed Consolidated Statements of Operations. The net gain recognized for the three months ended June 30, 2024 primarily relates to a recapitalization event of one of the Company’s investments in equity securities which resulted in an increase to the carrying value of this investment. The Company recognized a net gain of $97 million related to this event and sold a portion of its investment for proceeds of $89 million. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company’s assets and liabilities are also subject to nonrecurring fair value measurements. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges or as a result of charges to remeasure assets classified as held for sale to fair value less costs to sell. The aforementioned investments in equity securities of U.S. growth stage companies include the carrying value of investments without readily determinable fair values, which were determined using a measurement alternative and are recorded at cost less impairment, plus or minus any changes in observable price from orderly transactions of the same or similar security of the same issuer. These inputs related to changes in observable price are considered Level 2 under the fair value measurements and disclosure guidance and may not be representative of actual values that could have been realized or that will be realized in the future. Inputs related to impairments of investments are generally considered Level 3 fair value measurements due to their inherently unobservable nature based on significant assumptions by management and use of company-specific information. Goodwill Fair value assessments of the reporting unit and the reporting unit's net assets, which are performed for goodwill impairment tests, are considered a Level 3 measurement due to the significance of unobservable inputs developed using company-specific information. The Company considered a market approach as well as an income approach using a discounted cash flow (“DCF”) model to determine the fair value of each reporting unit. Long-lived Assets The Company utilizes multiple approaches, including the DCF model and market approaches, for estimating the fair value of intangible assets. The future cash flows used in the analysis are based on internal cash flow projections from its long-range plans and include significant assumptions by management. Accordingly, the fair value assessment of long-lived assets is considered a Level 3 fair value measurement. The Company measures certain long-lived and intangible assets at fair value on a nonrecurring basis when events occur that indicate an asset group may not be recoverable. If the carrying amount of an asset group is not recoverable, an impairment charge is recorded to reduce the carrying amount by the excess over its fair value.
Hedging Activities	Net Investment Hedges The Company uses cross-currency swaps to hedge portions of the Company’s net investments denominated in Canadian dollars against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. The changes in the fair value of these derivatives attributable to the changes in spot currency exchange rates and differences between spot and forward interest rates are recorded in accumulated other comprehensive loss and offset foreign currency translation gains and losses recorded on the Company’s net investments denominated in Canadian dollars. To the extent cross-currency swaps designated as hedges are ineffective, changes in carrying value attributable to the change in spot rates are recorded in earnings. In the first quarter of fiscal 2025, the Company entered into cross-currency swaps designated as net investment hedges with a total notional amount of C$2.5 billion to hedge portions of the Company’s net investments denominated in Canadian dollars against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. These cross-currency swaps mature in April 2025 and June 2026. Further, the Company terminated C$1.5 billion of cross-currency swaps designated as net investment hedges with original maturity dates in November 2024 and extending through March 2025. Fair Value Hedges The Company uses cross-currency swaps to hedge the changes in the fair value of its foreign currency notes resulting from changes in benchmark interest rates and foreign currency exchange rates. The Company also uses floating interest rate swaps to hedge the changes in the fair value of its U.S. dollar notes resulting from changes in benchmark interest rates. The changes in the fair value of these derivatives and the offsetting changes in the fair value of the hedged notes are recorded in earnings. Gains and losses from the changes in the Company’s fair value hedges recorded in earnings were largely offset by the gains and losses recorded in earnings on the hedged item. For components excluded from the assessment of hedge effectiveness, the initial value of the excluded component is recognized in accumulated other comprehensive loss and then released into earnings over the life of the hedging instrument. The difference between the change in the fair value of the excluded component and the amount amortized into earnings during the period is recorded in other comprehensive income (loss). Cash Flow Hedges The Company uses cross-currency swaps to hedge intercompany loans denominated in non-functional currencies to reduce the income statement effects arising from fluctuations in foreign currency exchange rates. The Company also uses forward contracts to hedge the variability of future benchmark interest rates on any planned bond issuances and to offset the potential income statement effects from obligations denominated in non-functional currencies. The effective portion of changes in the fair value of these hedges is recorded in accumulated other comprehensive loss and reclassified into earnings in the same period in which the hedged transaction affects earnings. Changes in fair values representing hedge ineffectiveness are recognized in current earnings. There were no gains or losses reclassified from accumulated other comprehensive loss and recorded in “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2024 or 2023. In fiscal 2023, the Company entered into forward-starting fixed interest rate swaps designated as cash flow hedges with a combined notional amount of $450 million, and in the first quarter of fiscal 2024 with a notional amount of $50 million, to hedge the variability of future benchmark interest rates on a planned bond issuance. On June 15, 2023, the Company completed a public offering of the 2033 Notes, at which point the $500 million cash flow hedges were terminated and the proceeds are being amortized to interest expense over the life of the 2033 Notes, or 10 years. Refer to F inancial Note 6 , “ Debt and Financing Activities ,” for additional information on the public offering of the 2033 Notes. Derivatives Not Designated as Hedges Derivative instruments not designated as hedges are marked-to-market at the end of each accounting period with the change in fair value included in earnings. Changes in the fair values for contracts not designated as hedges are recorded directly into earnings in “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations. The Company did not enter into or have any outstanding derivative instruments not designated as hedges during the periods presented. Other Information on Derivative Instruments Gains (losses) from derivatives included in other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income were as follows: Three Months Ended June 30, (In millions) 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ 7 $ (20) Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ — $ (6) Foreign currency forwards — — Fixed interest rate swaps — 16 (1) Includes other comprehensive income (loss) related to the excluded component of certain fair value hedges. Information regarding the fair value of derivatives on a gross basis were as follows: Balance Sheet June 30, 2024 March 31, 2024 Fair Value of U.S. Dollar Notional Fair Value of U.S. Dollar Notional (In millions) Asset Liability Asset Liability Derivatives designated for hedge accounting: Cross-currency swaps (current) Prepaid expenses and other/Other accrued liabilities $ — $ 3 $ 1,095 $ 13 $ 1 $ 1,122 Cross-currency swaps (non-current) Other non-current assets/liabilities 100 3 2,366 108 — 1,638 Interest rate swaps (non-current) Other non-current liabilities — 36 1,250 — 35 1,250 Foreign currency forwards (current) Prepaid expenses and other/Other accrued liabilities — — 41 — — 35 Foreign currency forwards (non-current) Other non-current assets — — 3 — — 15 Total $ 100 $ 42 $ 121 $ 36 Refer to Financial Note 8 , " Fair Value Measurements ," for more information on these recurring fair value measurements.
Commitments and Contingencies	In addition to commitments and obligations incurred in the ordinary course of business, the Company is subject to a variety of claims and legal proceedings, including claims from customers and vendors, pending and potential legal actions for damages, governmental investigations, and other matters. The Company and its affiliates are parties to the legal claims and proceedings described below and in Financial Note 17 to the Company’s 202 4 Annual Report , which disclosure is incorporated in this footnote by this reference. The Company is vigorously defending itself against those claims and in those proceedings. Significant developments in those matters are described below. If the Company is unsuccessful in defending, or if it determines to settle, any of these matters, it may be required to pay substantial sums, be subject to injunction and/or be forced to change how it operates its business, which could have a material adverse impact on its financial position or results of operations. Unless otherwise stated, the Company is unable to reasonably estimate the loss or a range of possible loss for the matters described below. Often, the Company is unable to determine that a loss is probable, or to reasonably estimate the amount of loss or a range of loss, for a claim because of the limited information available and the potential effects of future events and decisions by third parties, such as courts and regulators, that will determine the ultimate resolution of the claim. Many of the matters described are at preliminary stages, raise novel theories of liability, or seek an indeterminate amount of damages. It is not uncommon for claims to remain unresolved over many years. The Company reviews loss contingencies at least quarterly to determine whether the likelihood of loss has changed and whether it can make a reasonable estimate of the loss or range of loss. When the Company determines that a loss from a claim is probable and reasonably estimable, it records a liability for an estimated amount. The Company also provides disclosure when it is reasonably possible that a loss may be incurred or when it is reasonably possible that the amount of a loss will exceed its recorded liability. Amounts included within “Claims and litigation charges, net” in the Condensed Consolidated Statements of Operations consist of estimated loss contingencies related to opioid-related litigation matters, as well as any applicable income items or credit adjustments due to subsequent changes in estimates.

Restructuring, Impairment, an_2

Restructuring, Impairment, and Related Charges, Net (Tables)	3 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring, Impairment, and Related Costs	Restructuring, impairment, and related charges, net for the three months ended June 30, 2024 and 2023 consisted of the following: Three Months Ended June 30, 2024 (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Corporate Total Severance and employee-related costs, net $ — $ — $ — $ — $ (1) $ (1) Exit and other-related costs (1) — 3 3 — 2 8 Asset impairments and accelerated depreciation 1 1 — 1 — 3 Total $ 1 $ 4 $ 3 $ 1 $ 1 $ 10 (1) Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. Three Months Ended June 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate (1) Total Severance and employee-related costs, net $ 1 $ — $ — $ — $ 1 $ 2 Exit and other-related costs (2) 1 2 2 5 12 22 Asset impairments and accelerated depreciation — — — 1 27 28 Total $ 2 $ 2 $ 2 $ 6 $ 40 $ 52 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions. (2) Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
Schedule of Restructuring and Asset Impairment Charges	The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the three months ended June 30, 2024: (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Corporate Total Balance, March 31, 2024 (1) $ 18 $ 5 $ 1 $ 10 $ 21 $ 55 Restructuring, impairment, and related charges, net 1 4 3 1 1 10 Non-cash charges (1) (1) — (1) — (3) Cash payments (3) (1) (4) (1) (5) (14) Other (2) (1) (2) — (1) (1) (5) Balance, June 30, 2024 (3) $ 14 $ 5 $ — $ 8 $ 16 $ 43 (1) As of March 31, 2024, the total reserve balance was $55 million, of which $24 million was recorded in “Other accrued liabilities” and $31 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet. (2) Other primarily includes cumulative translation adjustments within International and transfers to certain other liabilities. (3) As of June 30, 2024, the total reserve balance was $43 million, of which $13 million was recorded in “Other accrued liabilities” and $30 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense was as follows: Three Months Ended June 30, (Dollars in millions) 2024 2023 Income tax expense $ 124 $ 94 Reported income tax rate 11.4 % 8.6 %

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computations for Basic and Diluted Earnings Per Common Share	The computations for basic and diluted earnings per common share were as follows: Three Months Ended June 30, (In millions, except per share amounts) 2024 2023 Net income $ 960 $ 997 Net income attributable to noncontrolling interests (45) (39) Net income attributable to McKesson Corporation $ 915 $ 958 Weighted-average common shares outstanding: Basic 129.8 135.5 Effect of dilutive securities: Stock options 0.1 0.2 Restricted stock units (1) 0.8 0.9 Diluted 130.7 136.6 Earnings per common share attributable to McKesson Corporation: (2) Diluted $ 7.00 $ 7.02 Basic $ 7.04 $ 7.07 (1) Includes dilutive effect from restricted stock units and performance-based restricted stock units. (2) Certain computations may reflect rounding adjustments.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of goodwill were as follows: (In millions) U.S. Pharmaceutical Prescription Technology Solutions Medical-Surgical Solutions International Total Balance, March 31, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,449 $ 10,132 Foreign currency translation adjustments, net — — — (14) (14) Balance, June 30, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,435 $ 10,118
Schedule of Information Regarding Intangible Assets	Information regarding intangible assets was as follows: June 30, 2024 March 31, 2024 (Dollars in millions) Weighted- Gross Accumulated Net Gross Accumulated Net Customer relationships 11 $ 1,825 $ (730) $ 1,095 $ 1,830 $ (701) $ 1,129 Service agreements 10 1,129 (690) 439 1,126 (676) 450 Trademarks and trade names 12 755 (405) 350 759 (395) 364 Technology 10 284 (129) 155 284 (125) 159 Other 7 32 (26) 6 34 (26) 8 Total $ 4,025 $ (1,980) $ 2,045 $ 4,033 $ (1,923) $ 2,110

Debt and Financing Activities (

Debt and Financing Activities (Tables)	3 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: (In millions) June 30, 2024 March 31, 2024 U.S. Dollar notes (1) (2) 0.90% Notes due December 3, 2025 500 500 5.25% Notes due February 15, 2026 499 499 1.30% Notes due August 15, 2026 499 499 7.65% Debentures due March 1, 2027 150 150 3.95% Notes due February 16, 2028 343 343 4.90% Notes due July 15, 2028 399 399 4.75% Notes due May 30, 2029 196 196 5.10% Notes due July 15, 2033 597 596 6.00% Notes due March 1, 2041 218 218 4.88% Notes due March 15, 2044 255 255 Foreign currency notes (1) (3) 1.50% Euro Notes due November 17, 2025 642 646 1.63% Euro Notes due October 30, 2026 536 540 3.13% Sterling Notes due February 17, 2029 569 568 Lease and other obligations 232 220 Total debt 5,635 5,629 Less: Current portion 51 50 Total long-term debt $ 5,584 $ 5,579 (1) These notes are unsecured and unsubordinated obligations of the Company. (2) Interest on these U.S. dollar notes is payable semi-annually. (3) Interest on these foreign currency notes is payable annually.

Hedging Activities (Tables)

Hedging Activities (Tables)	3 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	At June 30, 2024 and March 31, 2024, the notional amounts of the Company’s outstanding derivatives were as follows: June 30, 2024 March 31, 2024 (In millions) Currency Maturity Date (1) Notional Derivatives designated as net investment hedges: (2) Cross-currency swaps (3) CAD Apr-25 to Jun-26 C$ 2,500 C$ 1,500 Derivatives designated as fair value hedges: (2) Cross-currency swaps (4) GBP Nov-28 £ 450 £ 450 Cross-currency swaps (4) EUR Aug-25 to Jul-26 € 1,100 € 1,100 Floating interest rate swaps (5) USD Feb-26 to Sep-29 $ 1,250 $ 1,250 Derivatives designated as cash flow hedges: (2) Foreign currency forwards (6) GBP Jul-24 to Jul-25 £ 35 £ 39 (1) The maturity date reflected is for outstanding derivatives as of June 30, 2024. (2) There was no ineffectiveness in these hedges for the three months ended June 30, 2024 and 2023. (3) The Company agreed with third parties to exchange fixed interest payments in one currency for fixed interest payments in another currency at specified intervals and to exchange principal in one currency for principal in another currency, calculated by reference to agreed-upon notional amounts. (4) Represents cross-currency fixed-to-fixed interest rate swaps to mitigate the foreign currency exchange fluctuations on its foreign currency-denominated notes. (5) Represents fixed-to-floating interest rate swaps to hedge the changes in fair value caused by fluctuations in the benchmark interest rates. (6) The Company entered into agreements with financial institutions to hedge the variability of foreign currency exchange fluctuations in future cash payments due to a third party in the United Kingdom for capital expenditures.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	Gains (losses) from derivatives included in other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income were as follows: Three Months Ended June 30, (In millions) 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ 7 $ (20) Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ — $ (6) Foreign currency forwards — — Fixed interest rate swaps — 16 (1) Includes other comprehensive income (loss) related to the excluded component of certain fair value hedges.
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	Gains (losses) from derivatives included in other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income were as follows: Three Months Ended June 30, (In millions) 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ 7 $ (20) Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ — $ (6) Foreign currency forwards — — Fixed interest rate swaps — 16 (1) Includes other comprehensive income (loss) related to the excluded component of certain fair value hedges.
Schedule of Fair Value of Derivatives	Information regarding the fair value of derivatives on a gross basis were as follows: Balance Sheet June 30, 2024 March 31, 2024 Fair Value of U.S. Dollar Notional Fair Value of U.S. Dollar Notional (In millions) Asset Liability Asset Liability Derivatives designated for hedge accounting: Cross-currency swaps (current) Prepaid expenses and other/Other accrued liabilities $ — $ 3 $ 1,095 $ 13 $ 1 $ 1,122 Cross-currency swaps (non-current) Other non-current assets/liabilities 100 3 2,366 108 — 1,638 Interest rate swaps (non-current) Other non-current liabilities — 36 1,250 — 35 1,250 Foreign currency forwards (current) Prepaid expenses and other/Other accrued liabilities — — 41 — — 35 Foreign currency forwards (non-current) Other non-current assets — — 3 — — 15 Total $ 100 $ 42 $ 121 $ 36

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	The Company’s long-term debt is recorded at amortized cost. The carrying value and fair value of the Company’s long-term debt was as follows: June 30, 2024 March 31, 2024 (In millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 5,635 $ 5,487 $ 5,629 $ 5,488

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Estimated Accrual Liability	The Company’s estimated accrued liability for the opioid-related claims of U.S. governmental entities, including Native American tribes, and certain non-governmental plaintiffs, including a proposed settlement with a nationwide class of acute care hospitals and certain third-party payors, was as follows: (In millions) June 30, 2024 March 31, 2024 Current litigation liabilities (1) $ 778 $ 665 Long-term litigation liabilities 6,114 6,113 Total litigation liabilities $ 6,892 $ 6,778 (1) These amounts, recorded in “Other accrued liabilities” in the Condensed Consolidated Balance Sheets, are the amounts estimated to be paid within the next twelve months following each respective period end date.

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	3 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Information Regarding Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax, by Component	Information regarding changes in accumulated other comprehensive loss, including noncontrolling interests, by components for the three months ended June 30, 2024 and 2023 was as follows: Foreign Currency Translation Adjustments (In millions) Foreign Currency Translation Adjustments, Net of Tax (1) Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax (2) Unrealized Gains on Cash Flow and Other Hedges, Unrealized Losses and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, March 31, 2024 $ (856) $ (12) $ 3 $ (16) $ (881) Other comprehensive income (loss) before reclassifications (36) 5 — (1) (32) Amounts reclassified to earnings and other — — — — — Other comprehensive income (loss) (36) 5 — (1) (32) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (36) 5 — (1) (32) Balance, June 30, 2024 $ (892) $ (7) $ 3 $ (17) $ (913) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Norway into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the three months ended June 30, 2024 include gains of $7 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $2 million. Foreign Currency Translation Adjustments (In millions) Foreign Currency Translation Adjustments, Net of Tax (1) Unrealized Losses on Net Investment Hedges, Net of Tax (2) Unrealized Gains (Losses) on Cash Flow and Other Hedges, Net of Tax (3) Unrealized Losses and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, March 31, 2023 $ (847) $ (14) $ (36) $ (8) $ (905) Other comprehensive income (loss) before reclassifications 67 (15) 7 (2) 57 Amounts reclassified to earnings and other — — — — — Other comprehensive income (loss) 67 (15) 7 (2) 57 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 67 (15) 7 (2) 57 Balance, June 30, 2023 $ (780) $ (29) $ (29) $ (10) $ (848) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Norway into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the three months ended June 30, 2023 include losses of $20 million related to net investment hedges from cross-currency swaps, which are net of income tax benefit of $5 million. (3) Amounts recorded for the three months ended June 30, 2023 include losses of $6 million related to cash flow and other hedges from cross-currency swaps and gains of $16 million related to cash flow hedges from fixed interest rate swaps. These amounts are net of income tax expense of $3 million.

Segments of Business (Tables)

Segments of Business (Tables)	3 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Reportable Operating Segments and Reconciliations to the Condensed Consolidated Totals	Financial information relating to the Company’s reportable operating segments and reconciliations to the condensed consolidated totals was as follows: Three Months Ended June 30, (In millions) 2024 2023 Segment revenues (1) U.S. Pharmaceutical $ 71,715 $ 67,160 Prescription Technology Solutions 1,241 1,244 Medical-Surgical Solutions 2,636 2,611 International 3,691 3,468 Total revenues $ 79,283 $ 74,483 Segment operating profit (2) U.S. Pharmaceutical (3) $ 781 $ 827 Prescription Technology Solutions (4) 203 231 Medical-Surgical Solutions 188 227 International 90 57 Subtotal 1,262 1,342 Corporate expenses, net (5) (103) (204) Interest expense (75) (47) Income before income taxes $ 1,084 $ 1,091 (1) Revenues from services on a disaggregated basis represent approximately 1% of the U.S. Pharmaceutical segment’s total revenues, less than 39% of the RxTS segment’s total revenues, less than 1% of the Medical-Surgical Solutions segment’s total revenues, and less than 1% of the International segment’s total revenues. The International segment reflects foreign revenues. Revenues for the remaining three reportable segments are derived in the U.S. (2) Segment operating profit includes gross profit, net of total operating expenses, as well as other income, net, for the Company’s reportable segments. (3) The Company’s U.S. Pharmaceutical segment’s operating profit includes the following: • cash receipts for the Company’s share of antitrust legal settlements of $90 million and $118 million for the three months ended June 30, 2024 and 2023, respectively. These gains were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • a charge of $57 million for the three months ended June 30, 2024 related to the estimated liability for opioid-related claims, as discussed in more detail in Financial Note 9 , “ Commitments and Contingent Liabilities ;" • a loss of $43 million for the three months ended June 30, 2024 related to one of the Company’s equity method investments, which was recorded within “Other income, net” in the Company’s Condensed Consolidated Statement of Operations; and • a credit of $2 million and a charge of $32 million related to the last-in, first-out method of accounting for inventories for the three months ended June 30, 2024 and 2023, respectively. These amounts were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations. (4) The Company’s RxTS segment’s operating profit for the three months ended June 30, 2023 includes a gain of $28 million resulting from a fair value adjustment of the Company’s contingent consideration liability related to the acquisition of Rx Savings Solutions, LLC completed in November 2022. (5) Corporate expenses, net includes the following: • a net gain of $110 million for the three months ended June 30, 2024 related to the Company’s investments in equity securities of certain U.S. growth stage companies in the healthcare industry, as discussed in more detail in Financial Note 8 , “ Fair Value Measurements ; ” • a net charge of $55 million for the three months ended June 30, 2024 related to the estimated liability for opioid-related claims, as discussed in more detail in Financial Note 9, “Commitments and Contingent Liabilities;" and • restructuring charges of $40 million for the three months ended June 30, 2023 for restructuring initiatives as discussed in more detail in Financial Note 2 , “ Restructuring, Impairment, and Related Charges, Net . ”

Significant Accounting Polici_3

Significant Accounting Policies (Details)	3 Months Ended
	Jun. 30, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	4

Restructuring, Impairment, an_3

Restructuring, Impairment, and Related Charges, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges, net	$ 10	$ 52
Restructuring, impairment, and related charges	10	52
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges		$ 36
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring, anticipated total charges	100
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring, anticipated total charges	$ 150

Restructuring, Impairment, an_4

Restructuring, Impairment, and Related Charges, Net - Summary of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	$ (1)	$ 2
Exit and other-related costs	8	22
Asset impairments and accelerated depreciation	3	28
Total	10	52
Operating Segments | U.S. Pharmaceutical
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	1
Exit and other-related costs	0	1
Asset impairments and accelerated depreciation	1	0
Total	1	2
Operating Segments | Prescription Technology Solutions
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	0
Exit and other-related costs	3	2
Asset impairments and accelerated depreciation	1	0
Total	4	2
Operating Segments | Medical-Surgical Solutions
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	0
Exit and other-related costs	3	2
Asset impairments and accelerated depreciation	0	0
Total	3	2
Operating Segments | International
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	0
Exit and other-related costs	0	5
Asset impairments and accelerated depreciation	1	1
Total	1	6
Corporate
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	(1)	1
Exit and other-related costs	2	12
Asset impairments and accelerated depreciation	0	27
Total	$ 1	$ 40

Restructuring, Impairment, an_5

Restructuring, Impairment, and Related Charges, Net - Summary of Restructuring Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Beginning balance	$ 55
Restructuring, impairment, and related charges, net	10	$ 52
Non-cash charges	(3)
Cash payments	(14)
Other	(5)
Ending balance	43
Operating Segments | U.S. Pharmaceutical
Restructuring Reserve [Roll Forward]
Beginning balance	18
Restructuring, impairment, and related charges, net	1	2
Non-cash charges	(1)
Cash payments	(3)
Other	(1)
Ending balance	14
Operating Segments | Prescription Technology Solutions
Restructuring Reserve [Roll Forward]
Beginning balance	5
Restructuring, impairment, and related charges, net	4	2
Non-cash charges	(1)
Cash payments	(1)
Other	(2)
Ending balance	5
Operating Segments | Medical-Surgical Solutions
Restructuring Reserve [Roll Forward]
Beginning balance	1
Restructuring, impairment, and related charges, net	3	2
Non-cash charges	0
Cash payments	(4)
Other	0
Ending balance	0
Operating Segments | International
Restructuring Reserve [Roll Forward]
Beginning balance	10
Restructuring, impairment, and related charges, net	1	6
Non-cash charges	(1)
Cash payments	(1)
Other	(1)
Ending balance	8
Corporate
Restructuring Reserve [Roll Forward]
Beginning balance	21
Restructuring, impairment, and related charges, net	1	$ 40
Non-cash charges	0
Cash payments	(5)
Other	(1)
Ending balance	16
Accrued Liabilities
Restructuring Reserve [Roll Forward]
Beginning balance	24
Ending balance	13
Other Non-Current Liabilities
Restructuring Reserve [Roll Forward]
Beginning balance	31
Ending balance	$ 30

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ (124)	$ (94)
Reported income tax expense (benefit) rates (percent)	11.40%	8.60%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Contingency [Line Items]
Net discrete tax expense (benefit)	$ 124	$ 94
Effective income tax rate reconciliation, net discrete tax expense (benefit)	(125)
Effective income tax rate reconciliation, foreign income tax rate differential, expense (benefit)	(58)
Tax expense (benefit), share-based payment arrangement	(37)
Unrecognized tax benefits, increase (decrease)	(36)
Tax expense (benefit), intra-entity transfers of assets other than inventory, amount		$ 147
Unrecognized tax benefits	1,400
Unrecognized tax benefits that would impact effective tax rate	$ 1,300

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Potentially dilutive securities excluded from diluted earnings per share (less than)	1,000,000	1,000,000

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Computations for Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 960	$ 997
Net income attributable to noncontrolling interests	(45)	(39)
Net income attributable to McKesson Corporation	$ 915	$ 958
Weighted-average common shares outstanding:
Basic (in shares)	129.8	135.5
Diluted (in shares)	130.7	136.6
Earnings (loss) per common share attributable to McKesson Corporation:
Diluted (in usd per share)	$ 7	$ 7.02
Basic (in usd per share)	$ 7.04	$ 7.07
Stock options
Weighted-average common shares outstanding:
Effect of dilutive securities (in shares)	0.1	0.2
Restricted stock units
Weighted-average common shares outstanding:
Effect of dilutive securities (in shares)	0.8	0.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Schedule of Changes in the Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 10,132
Foreign currency translation adjustments, net	(14)
Ending balance	10,118
U.S. Pharmaceutical
Goodwill [Roll Forward]
Beginning balance	4,123
Foreign currency translation adjustments, net	0
Ending balance	4,123
Prescription Technology Solutions
Goodwill [Roll Forward]
Beginning balance	2,024
Foreign currency translation adjustments, net	0
Ending balance	2,024
Medical-Surgical Solutions
Goodwill [Roll Forward]
Beginning balance	2,536
Foreign currency translation adjustments, net	0
Ending balance	2,536
International
Goodwill [Roll Forward]
Beginning balance	1,449
Foreign currency translation adjustments, net	(14)
Ending balance	$ 1,435

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Schedule of Information Regarding Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,025	$ 4,033
Accumulated Amortization	(1,980)	(1,923)
Net Carrying Amount	$ 2,045	2,110
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	11 years
Gross Carrying Amount	$ 1,825	1,830
Accumulated Amortization	(730)	(701)
Net Carrying Amount	$ 1,095	1,129
Service agreements
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	10 years
Gross Carrying Amount	$ 1,129	1,126
Accumulated Amortization	(690)	(676)
Net Carrying Amount	$ 439	450
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	12 years
Gross Carrying Amount	$ 755	759
Accumulated Amortization	(405)	(395)
Net Carrying Amount	$ 350	364
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	10 years
Gross Carrying Amount	$ 284	284
Accumulated Amortization	(129)	(125)
Net Carrying Amount	$ 155	159
Other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	7 years
Gross Carrying Amount	$ 32	34
Accumulated Amortization	(26)	(26)
Net Carrying Amount	$ 6	$ 8

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 63	$ 62
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Estimated annual amortization expense, remainder of 2025	183
Estimated annual amortization expense, 2026	214
Estimated annual amortization expense, 2027	207
Estimated annual amortization expense, 2028	203
Estimated annual amortization expense, 2029	200
Estimated annual amortization expense, thereafter	$ 1,000

Debt and Financing Activities -

Debt and Financing Activities - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jun. 15, 2023
Debt Instrument [Line Items]
Total debt	$ 5,635	$ 5,629
Less: Current portion	51	50
Total long-term debt	$ 5,584	5,579
Loans payable | 0.90% Notes due December 3, 2025
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	0.90%
Total debt	$ 500	500
Loans payable | 5.25% Notes due February 15, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	1.30%
Total debt	$ 499	499
Loans payable | 1.30% Notes due August 15, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	5.25%
Total debt	$ 499	499
Loans payable | 7.65% Debentures due March 1, 2027
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	7.65%
Total debt	$ 150	150
Loans payable | 3.95% Notes due February 16, 2028
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	3.95%
Total debt	$ 343	343
Loans payable | 4.90% Notes due July 15, 2028
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	4.90%		4.90%
Total debt	$ 399	399
Loans payable | 4.75% Notes due May 30, 2029
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	4.75%
Total debt	$ 196	196
Loans payable | 5.10% Notes due July 15, 2033
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	5.10%		5.10%
Total debt	$ 597	596
Loans payable | 6.00% Notes due March 1, 2041
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	6%
Total debt	$ 218	218
Loans payable | 4.88% Notes due March 15, 2044
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	4.88%
Total debt	$ 255	255
Loans payable | 1.50% Euro Notes due November 17, 2025
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	1.50%
Total debt	$ 642	646
Loans payable | 1.63% Euro Notes due October 30, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	1.63%
Total debt	$ 536	540
Loans payable | 3.13% Sterling Notes due February 17, 2029
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	3.13%
Total debt	$ 569	568
Lease and other obligations
Debt Instrument [Line Items]
Total debt	$ 232	$ 220

Debt and Financing Activities_2

Debt and Financing Activities - Long-Term Debt Narrative (Details) - USD ($) $ in Millions			3 Months Ended
	Jun. 16, 2023	Jun. 15, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Debt Instrument [Line Items]
Long-term debt					$ 5,600
Current portion of long-term debt			$ 51		$ 50
Repayments of long-term debt			0	$ 268
Purchase of U.S. government obligations for the satisfaction and discharge of long-term debt			$ 0	647
Term Loan
Debt Instrument [Line Items]
Redemption price percentage of principal (percent)		101%
Term Loan | Minimum
Debt Instrument [Line Items]
Debt instrument, redemption period (in days)		10 days
Term Loan | Maximum
Debt Instrument [Line Items]
Debt instrument, redemption period (in days)		60 days
4.90% Notes due July 15, 2028 | Term Loan
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		4.90%	4.90%
Debt principal amount		$ 400
Proceeds from debt issuance		$ 397
5.10% Notes due July 15, 2033 | Term Loan
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		5.10%	5.10%
Debt principal amount		$ 600
Proceeds from debt issuance		$ 592
3.80% Notes due March 15, 2024
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		3.80%
3.80% Notes due March 15, 2024 | Term Loan
Debt Instrument [Line Items]
Redemption price percentage of principal (percent)	98.75%
Repayments of long-term debt	$ 268
Debt principal redeemed	271
Purchase of U.S. government obligations for the satisfaction and discharge of long-term debt	$ 647
Gain on debt extinguishment				$ 9

Debt and Financing Activities_3

Debt and Financing Activities - Revolving Credit Facilities Narrative (Details) - Unsecured Debt - Revolving Credit Facility - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Nov. 07, 2022
Senior Unsecured Credit Facility (the 2022 Credit Facility)
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 4,000,000,000
Senior Unsecured Credit Facility (the 2022 Credit Facility), Canadian Dollar, British Pound Sterling, and Euros Sublimit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 3,600,000,000
Borrowings under facility	$ 0	$ 0
Amounts outstanding under facility	$ 0		$ 0

Debt and Financing Activities_4

Debt and Financing Activities - Commercial Paper Narrative (Details) - Commercial Paper - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 4,000,000,000
Proceeds from issuance of commercial paper	1,400,000,000	$ 65,000,000
Repayments of commercial paper	$ 1,400,000,000	$ 65,000,000
Commercial paper			$ 0

Hedging Activities - Schedule o

Hedging Activities - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) - Derivatives designated for hedge accounting € in Millions, £ in Millions, $ in Millions, $ in Millions	Jun. 30, 2024 CAD ($)	Jun. 30, 2024 GBP (£)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 GBP (£)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 USD ($)	Jun. 15, 2023 USD ($)
Cross-currency swaps | Net Investment Hedges | CAD
Derivatives, Fair Value [Line Items]
Notional	$ 2,500				$ 1,500
Cross-currency swaps | Fair Value Hedges | GBP
Derivatives, Fair Value [Line Items]
Notional | £		£ 450				£ 450
Cross-currency swaps | Fair Value Hedges | EUR
Derivatives, Fair Value [Line Items]
Notional | €			€ 1,100				€ 1,100
Floating interest rate swaps | Fair Value Hedges | USD
Derivatives, Fair Value [Line Items]
Notional				$ 1,250				$ 1,250
Floating interest rate swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional									$ 500
Foreign currency forwards | Cash Flow Hedges | GBP
Derivatives, Fair Value [Line Items]
Notional | £		£ 35				£ 39

Hedging Activities - Narrative

Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 CAD ($)	Mar. 31, 2024 CAD ($)	Jun. 15, 2023 USD ($)
Derivative [Line Items]
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	$ 0	$ 0
Net Investment Hedging | CAD | Currency swap | Derivatives designated for hedge accounting
Derivative [Line Items]
Derivative, notional amount				$ 2,500	$ 1,500
Derivative notional amount, terminated				$ 1,500
Cash Flow Hedges | Currency swap | Derivatives designated for hedge accounting
Derivative [Line Items]
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	$ 0	(6,000,000)
Cash Flow Hedges | Floating interest rate swaps | Derivatives designated for hedge accounting
Derivative [Line Items]
Derivative, notional amount						$ 500,000,000
Derivative, notional amount, entered into during period		$ 50,000,000	$ 450,000,000
Derivative termination proceeds, amortization period (in years)	10 years

Hedging Activities - Summary of

Hedging Activities - Summary of Derivative Instruments Gain (Loss) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	$ 0	$ 0
Derivatives designated for hedge accounting | Cross-currency swaps | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivatives designated as net investment hedges:	7,000,000	(20,000,000)
Derivatives designated for hedge accounting | Cross-currency swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	0	(6,000,000)
Derivatives designated for hedge accounting | Foreign currency forwards | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	0	0
Derivatives designated for hedge accounting | Fixed interest rate swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	$ 0	$ 16,000,000

Hedging Activities - Schedule_2

Hedging Activities - Schedule of Fair Value of Derivatives (Details) - Derivatives designated for hedge accounting - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Derivatives, Fair Value [Line Items]
Asset	$ 100	$ 121
Liability	42	36
Cross-currency swaps | Prepaid expenses and other/Other accrued liabilities
Derivatives, Fair Value [Line Items]
Asset	0	13
Liability	3	1
U.S. Dollar notional amount, asset	1,095	1,122
Cross-currency swaps | Other non-current assets/liabilities
Derivatives, Fair Value [Line Items]
Asset	100	108
Liability	3	0
U.S. Dollar notional amount, asset	2,366	1,638
Interest Rate Swap | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Asset	0	0
Liability	36	35
U.S. Dollar notional amount, asset	1,250	1,250
Foreign currency forwards | Prepaid expenses and other/Other accrued liabilities
Derivatives, Fair Value [Line Items]
Asset	0	0
Liability	0	0
U.S. Dollar, notional amount, liability	41	35
Foreign currency forwards | Other non-current assets
Derivatives, Fair Value [Line Items]
Asset	0	0
Liability	0	0
U.S. Dollar, notional amount, liability	$ 3	$ 15

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 189		$ 240
Gains (losses) associated with equity investments	110	$ 0
Gain related to share price increase of equity securities	97
Proceeds from sale of equity securities	89
Fair value, inputs, level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds at carrying value	$ 627		$ 705

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Long-Term Debt is Recorded at Amortized Cost (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	$ 5,635	$ 5,629
Fair Value, Recurring | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	5,635	5,629
Fair Value	$ 5,487	$ 5,488

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Narrative (Details) $ in Millions	1 Months Ended			3 Months Ended		12 Months Ended
	Jul. 31, 2024 USD ($)	May 30, 2024 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2024 USD ($) case distributor subdivision state	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($) plaintiff	Nov. 30, 2022 USD ($)	Jul. 31, 2020 state	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Claims and litigation charges				$ 112	$ 0
Opioid stewardship act, New York, annual surcharge							$ 42		$ 100	$ 100
Proceeds from legal settlements		$ 90		90	$ 118
National Prescription Opioid Litigation
Loss Contingencies [Line Items]
Claims and litigation charges				114		$ 149
National Prescription Opioid Litigation | U.S. Pharmaceutical
Loss Contingencies [Line Items]
Claims and litigation charges				57		(74)
National Prescription Opioid Litigation | Corporate Segment
Loss Contingencies [Line Items]
Claims and litigation charges				$ 57		$ (75)
National Prescription Opioid Litigation | United States
Loss Contingencies [Line Items]
Complaints filed against the entity | case				400
National Prescription Opioid Litigation | Canada
Loss Contingencies [Line Items]
Complaints filed against the entity | case				4
National Prescription Opioid Litigation | An individual | United States
Loss Contingencies [Line Items]
Complaints filed against the entity | case				1
National Prescription Opioid Litigation | An individual | Canada
Loss Contingencies [Line Items]
Complaints filed against the entity | case				1
New York Opioid Tax Surcharge | U.S. Pharmaceutical
Loss Contingencies [Line Items]
Loss contingency accrual, payments			$ 26
National Prescription Opioid Litigation
Loss Contingencies [Line Items]
Number of other national distributors named in suit | distributor				2
Number of states in which court cases are pending | state				48
Loss contingency, number of cases dismissed | case				2,300
Portion of settlement award to be used by state and local government for remediation (percent)				85%
Loss contingency, claims settled, number of jurisdictions not participating in settlement | subdivision				1
Number of plaintiffs | plaintiff						1
National Prescription Opioid Litigation | State of Alabama and Subdivisions
Loss Contingencies [Line Items]
Settlement payment				$ 61
Award payable under proposed framework				$ 113
National Prescription Opioid Litigation | Native American Tribes Other Than Cherokee Nation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party, percentage of total settlement to be used to remediate damages				0.85
National Prescription Opioid Litigation | Settling Governmental Entities and Cherokee Nation | Settled Litigation
Loss Contingencies [Line Items]
Settlement payment				$ 0
National Prescription Opioid Litigation | Settling Governmental Entities and Cherokee Nation | Settled Litigation | Subsequent Event
Loss Contingencies [Line Items]
Settlement payment	$ 500
National Prescription Opioid Litigation | Three Largest U.S. Pharmaceutical Distributors
Loss Contingencies [Line Items]
Settlement payment				1,500
Award payable under proposed framework				6,300
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | State of West Virginia and Subdivisions
Loss Contingencies [Line Items]
Settlement payment				53
Award payable under proposed framework				99
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | Cherokee Nation
Loss Contingencies [Line Items]
Settlement payment				84
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | Native American Tribes Other Than Cherokee Nation
Loss Contingencies [Line Items]
Award payable under proposed framework				$ 112
United States ex rel. Hart v. McKesson Corporation, et al., 15-cv-00903-RA
Loss Contingencies [Line Items]
Number of states filed on behalf of | state								27

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Estimated Accrual Liability (Details) - National Prescription Opioid Litigation - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Loss Contingencies [Line Items]
Current litigation liabilities	$ 778	$ 665
Long-term litigation liabilities	6,114	6,113
Total litigation liabilities	$ 6,892	$ 6,778

Stockholders' Deficit - Narrati

Stockholders' Deficit - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended	15 Months Ended
	Jul. 31, 2024 USD ($) $ / shares	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2024 USD ($)	Jun. 30, 2024 USD ($) vote
Accelerated Share Repurchases [Line Items]
Number of votes per share of common stock permitted on proposals presented to stockholders (vote) | vote		1			1
Dividends declared per common share (in dollars per share) | $ / shares		$ 0.62	$ 0.54
Excise taxes				$ 25	$ 26
Shares repurchased		$ 528	$ 673
Authorized amount available for future repurchases		$ 6,100			$ 6,100
Subsequent Event
Accelerated Share Repurchases [Line Items]
Dividends declared per common share (in dollars per share) | $ / shares	$ 0.71
Authorized repurchase amount (up to)	$ 4,000
Open Market Share Repurchase Transactions
Accelerated Share Repurchases [Line Items]
Common stock repurchased (in shares) | shares		1	1.8
Shares repurchased		$ 528	$ 673
Average price of shares repurchased (in usd per share) | $ / shares		$ 548.20	$ 379.14
Excise taxes		$ 1	$ 4

Stockholders' Deficit - Schedul

Stockholders' Deficit - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (1,599,000,000)	$ (1,490,000,000)
Other comprehensive income (loss) before reclassifications	(32,000,000)	57,000,000
Amounts reclassified to earnings and other	0	0
Other comprehensive income (loss), net of tax	(32,000,000)	57,000,000
Less: amounts attributable to noncontrolling interests	0	0
Other comprehensive income (loss) attributable to McKesson	(32,000,000)	57,000,000
Ending balance	(1,381,000,000)	(1,240,000,000)
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	0	0
Derivatives designated for hedge accounting | Net Investment Hedging | Euro Denominated Notes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), net investment hedge, gain (loss)		(20,000,000)
Derivatives designated for hedge accounting | Net Investment Hedging | Currency swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), net investment hedge, gain (loss)	7,000,000	(20,000,000)
Derivatives designated for hedge accounting | Cash Flow Hedges | Currency swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	0	(6,000,000)
Derivatives designated for hedge accounting | Cash Flow Hedges | Fixed interest rate swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	0	16,000,000
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(881,000,000)	(905,000,000)
Ending balance	(913,000,000)	(848,000,000)
Foreign Currency Translation Adjustments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(856,000,000)	(847,000,000)
Other comprehensive income (loss) before reclassifications	(36,000,000)	67,000,000
Amounts reclassified to earnings and other	0	0
Other comprehensive income (loss), net of tax	(36,000,000)	67,000,000
Ending balance	(892,000,000)	(780,000,000)
Foreign Currency Translation Adjustments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Less: amounts attributable to noncontrolling interests	0	0
Foreign Currency Translation Adjustments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) attributable to McKesson	(36,000,000)	67,000,000
Unrealized (Losses) on Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12,000,000)	(14,000,000)
Other comprehensive income (loss) before reclassifications	5,000,000	(15,000,000)
Amounts reclassified to earnings and other	0	0
Other comprehensive income (loss), net of tax	5,000,000	(15,000,000)
Ending balance	(7,000,000)	(29,000,000)
Other comprehensive income (loss) before reclassification, tax	(2,000,000)	(5,000,000)
Unrealized (Losses) on Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Less: amounts attributable to noncontrolling interests	0	0
Unrealized (Losses) on Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) attributable to McKesson	5,000,000	(15,000,000)
Unrealized [Gains (Losses)] on Cash Flow and Other Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,000,000	(36,000,000)
Other comprehensive income (loss) before reclassifications	0	7,000,000
Amounts reclassified to earnings and other	0	0
Other comprehensive income (loss), net of tax	0	7,000,000
Ending balance	3,000,000	(29,000,000)
Other comprehensive income (loss) before reclassification, tax		3,000,000
Unrealized [Gains (Losses)] on Cash Flow and Other Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Less: amounts attributable to noncontrolling interests	0	0
Unrealized [Gains (Losses)] on Cash Flow and Other Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) attributable to McKesson	0	7,000,000
Unrealized Losses and Other Components of Benefit Plans, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16,000,000)	(8,000,000)
Other comprehensive income (loss) before reclassifications	(1,000,000)	(2,000,000)
Amounts reclassified to earnings and other	0	0
Other comprehensive income (loss), net of tax	(1,000,000)	(2,000,000)
Ending balance	(17,000,000)	(10,000,000)
Unrealized Losses and Other Components of Benefit Plans, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Less: amounts attributable to noncontrolling interests	0	0
Unrealized Losses and Other Components of Benefit Plans, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) attributable to McKesson	$ (1,000,000)	$ (2,000,000)

Segments of Business - Narrativ

Segments of Business - Narrative (Details)	3 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segments of Business - Reportab

Segments of Business - Reportable operating segment (Details) $ in Millions	1 Months Ended	3 Months Ended
	May 30, 2024 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Segment revenues
Total revenues		$ 79,283	$ 74,483
Segment operating profit (loss)
Total operating profit (loss)		1,029	1,100
Subtotal		1,262	1,342
Corporate income (expenses), net		(103)	(204)
Interest expense		(75)	(47)
Income before income taxes		$ 1,084	1,091
Number of reportable segments | segment		4
Proceeds from legal settlements	$ 90	$ 90	118
Pre-tax credits related to LIFO accounting		(2)	32
Income (loss) from equity method investments		(43)
Gains (losses) associated with equity investments		110	0
Restructuring, impairment, and related charges, net		$ 10	52
Rx Savings Solutions, LLC
Segment operating profit (loss)
Fair value adjustment gain			28
United States
Segment operating profit (loss)
Number of reportable segments | segment		3
Corporate
Segment operating profit (loss)
Gains (losses) associated with equity investments		$ 110
Restructuring, impairment, and related charges, net		1	40
Corporate | National Prescription Opioid Litigation
Segment operating profit (loss)
Pre-tax expenses related to estimated litigation liability		55
U.S. Pharmaceutical
Segment revenues
Total revenues		71,715	67,160
Segment operating profit (loss)
Total operating profit (loss)		781	827
U.S. Pharmaceutical | Operating Segments
Segment operating profit (loss)
Pre-tax credits related to LIFO accounting		(2)	32
Restructuring, impairment, and related charges, net		1	2
U.S. Pharmaceutical | Operating Segments | National Prescription Opioid Litigation
Segment operating profit (loss)
Pre-tax expenses related to estimated litigation liability		57
Prescription Technology Solutions
Segment revenues
Total revenues		1,241	1,244
Segment operating profit (loss)
Total operating profit (loss)		203	231
Prescription Technology Solutions | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net		4	2
Medical-Surgical Solutions
Segment revenues
Total revenues		2,636	2,611
Segment operating profit (loss)
Total operating profit (loss)		188	227
Medical-Surgical Solutions | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net		3	2
International
Segment revenues
Total revenues		3,691	3,468
Segment operating profit (loss)
Total operating profit (loss)		90	57
International | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net		$ 1	$ 6
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | U.S. Pharmaceutical
Segment operating profit (loss)
Revenue derived from services, percentage (approximately or less than)		1%
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | Prescription Technology Solutions
Segment operating profit (loss)
Revenue derived from services, percentage (approximately or less than)		39%
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | Medical-Surgical Solutions
Segment operating profit (loss)
Revenue derived from services, percentage (approximately or less than)		1%
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | International
Segment operating profit (loss)
Revenue derived from services, percentage (approximately or less than)		1%