McKesson (MCK) 10-Q 7 Nov 24 2025 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Sep. 30, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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	126,940,097
Entity Central Index Key	0000927653
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 93,651	$ 77,215	$ 172,934	$ 151,698
Cost of sales	(90,403)	(74,146)	(166,534)	(145,607)
Gross profit	3,248	3,069	6,400	6,091
Selling, distribution, general, and administrative expenses	(2,503)	(2,092)	(4,504)	(3,962)
Claims and litigation charges, net	4	2	(108)	2
Restructuring, impairment, and related charges, net	(171)	(28)	(181)	(80)
Total operating expenses	(2,670)	(2,118)	(4,793)	(4,040)
Operating income	578	951	1,607	2,051
Other income, net	34	26	164	64
Interest expense	(78)	(61)	(153)	(108)
Income before income taxes	534	916	1,618	2,007
Income tax expense	(247)	(213)	(371)	(307)
Net income	287	703	1,247	1,700
Net income attributable to noncontrolling interests	(46)	(39)	(91)	(78)
Net income attributable to McKesson Corporation	$ 241	$ 664	$ 1,156	$ 1,622
Earnings per common share attributable to McKesson Corporation
Diluted (in usd per share)	$ 1.87	$ 4.92	$ 8.89	$ 11.95
Basic (in usd per share)	$ 1.88	$ 4.95	$ 8.94	$ 12.03
Weighted-average common shares outstanding
Diluted (in shares)	129.3	134.8	130	135.7
Basic (in shares)	128.7	134.1	129.3	134.8

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 287	$ 703	$ 1,247	$ 1,700
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	34	(64)	3	(12)
Unrealized gain (loss) on cash flow and other hedges	(9)	25	(9)	32
Changes in retirement-related benefit plans	(2)	0	(3)	(2)
Other comprehensive income (loss), net of tax	23	(39)	(9)	18
Comprehensive income	310	664	1,238	1,718
Comprehensive income attributable to noncontrolling interests	(46)	(39)	(91)	(78)
Comprehensive income attributable to McKesson Corporation	$ 264	$ 625	$ 1,147	$ 1,640

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Current assets
Cash and cash equivalents	$ 2,509	$ 4,583
Receivables, net	25,270	21,622
Inventories, net	24,176	21,139
Assets held for sale	635	5
Prepaid expenses and other	751	621
Total current assets	53,341	47,970
Property, plant, and equipment, net	2,361	2,316
Operating lease right-of-use assets	1,495	1,729
Goodwill	10,087	10,132
Intangible assets, net	1,573	2,110
Other non-current assets	3,572	3,186
Total assets	72,429	67,443
Current liabilities
Drafts and accounts payable	53,317	47,097
Current portion of long-term debt	53	50
Current portion of operating lease liabilities	243	295
Liabilities held for sale	371	0
Other accrued liabilities	4,787	4,915
Total current liabilities	58,771	52,357
Long-term debt	5,691	5,579
Long-term deferred tax liabilities	1,048	917
Long-term operating lease liabilities	1,232	1,466
Long-term litigation liabilities	5,617	6,113
Other non-current liabilities	2,712	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 September 30, 2024 and March 31, 2024, respectively	3	3
Additional paid-in capital	8,221	8,048
Retained earnings	15,959	14,978
Accumulated other comprehensive loss	(890)	(881)
Treasury shares, at cost, 152 and 148 shares at September 30, 2024 and March 31, 2024, respectively	(26,310)	(24,119)
Total McKesson Corporation stockholders’ deficit	(3,017)	(1,971)
Noncontrolling interests	375	372
Total deficit	(2,642)	(1,599)
Total liabilities and deficit	$ 72,429	$ 67,443

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 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)	152,000,000	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	(40)		54			$ (94)
Share-based compensation	91		91
Repurchase of common stock (in shares)						(4)
Repurchase of common stock	(1,513)					$ (1,513)
Net income	1,700			1,622			78
Other comprehensive income (loss)	18				18
Cash dividends declared	(157)			(157)
Payments to noncontrolling interests	(77)						(77)
Other	4		7	1			(4)
Ending balance (in shares) at Sep. 30, 2023		278
Ending balance at Sep. 30, 2023	(1,464)	$ 3	7,899	13,761	(887)	$ (22,604)	364
Ending balance (in shares) at Sep. 30, 2023						(145)
Beginning balance (in shares) at Jun. 30, 2023		278
Beginning balance at Jun. 30, 2023	(1,240)	$ 3	7,824	13,182	(848)	$ (21,763)	362
Beginning balance (in shares) at Jun. 30, 2023						(143)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employee plans, net of forfeitures	26		27			$ (1)
Share-based compensation	48		48
Repurchase of common stock (in shares)						(2)
Repurchase of common stock	(840)					$ (840)
Net income	703			664			39
Other comprehensive income (loss)	(39)				(39)
Cash dividends declared	(84)			(84)
Payments to noncontrolling interests	(38)						(38)
Other	0			(1)			1
Ending balance (in shares) at Sep. 30, 2023		278
Ending balance at Sep. 30, 2023	$ (1,464)	$ 3	7,899	13,761	(887)	$ (22,604)	364
Ending balance (in shares) at Sep. 30, 2023						(145)
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	$ (80)		54			$ (134)
Share-based compensation	119		119
Repurchase of common stock (in shares)						(4)
Repurchase of common stock	(2,057)					$ (2,057)
Net income	1,247			1,156			91
Other comprehensive income (loss)	(9)				(9)
Cash dividends declared	(173)			(173)
Payments to noncontrolling interests	(88)						(88)
Other	$ (2)			(2)
Ending balance (in shares) at Sep. 30, 2024	279	279
Ending balance at Sep. 30, 2024	$ (2,642)	$ 3	8,221	15,959	(890)	$ (26,310)	375
Ending balance (in shares) at Sep. 30, 2024	(152)					(152)
Beginning balance (in shares) at Jun. 30, 2024		279
Beginning balance at Jun. 30, 2024	$ (1,381)	$ 3	8,126	15,810	(913)	$ (24,781)	374
Beginning balance (in shares) at Jun. 30, 2024						(149)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employee plans, net of forfeitures	32		32
Share-based compensation	63		63
Repurchase of common stock (in shares)						(3)
Repurchase of common stock	(1,529)					$ (1,529)
Net income	287			241			46
Other comprehensive income (loss)	23				23
Cash dividends declared	(90)			(90)
Payments to noncontrolling interests	(45)						(45)
Other	$ (2)			(2)
Ending balance (in shares) at Sep. 30, 2024	279	279
Ending balance at Sep. 30, 2024	$ (2,642)	$ 3	$ 8,221	$ 15,959	$ (890)	$ (26,310)	$ 375
Ending balance (in shares) at Sep. 30, 2024	(152)					(152)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical) - $ / shares	3 Months Ended			6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.71	$ 0.62	$ 0.62	$ 1.33	$ 1.16

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
OPERATING ACTIVITIES
Net income	$ 287	$ 703	$ 1,247	$ 1,700
Adjustments to reconcile to net cash provided by (used in) operating activities:
Depreciation			124	129
Amortization			208	187
Asset impairment charges			76	28
Deferred taxes			125	(271)
Charges (credits) associated with last-in, first-out inventory method			(4)	87
Non-cash operating lease expense			113	122
Gain from sales of businesses and investments			(89)	(16)
Canadian businesses held for sale			638	0
Provision for bad debts			(169)	243
Other non-cash items			174	71
Changes in assets and liabilities:
Receivables			(3,499)	(3,207)
Inventories			(3,310)	(2,349)
Drafts and accounts payable			6,221	4,307
Operating lease liabilities			(196)	(166)
Taxes			(145)	(76)
Litigation liabilities			(386)	(529)
Other			(408)	(347)
Net cash provided by (used in) operating activities			720	(87)
INVESTING ACTIVITIES
Payments for property, plant, and equipment			(242)	(153)
Capitalized software expenditures			(143)	(111)
Acquisitions, net of cash, cash equivalents, and restricted cash acquired			(1)	0
Proceeds from sales of businesses and investments, net			93	50
Other			(80)	(101)
Net cash used in investing activities			(373)	(315)
FINANCING ACTIVITIES
Proceeds from short-term borrowings			6,876	2,000
Repayments of short-term borrowings			(6,876)	(2,000)
Proceeds from issuances of long-term debt			498	991
Repayments of long-term debt			(501)	(271)
Purchase of U.S. government obligations for the satisfaction and discharge of long-term debt			0	(647)
Common stock transactions:
Issuances			54	54
Share repurchases			(2,019)	(1,505)
Dividends paid			(162)	(149)
Other			(278)	(225)
Net cash used in financing activities			(2,408)	(1,752)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash			1	(1)
Change in cash, cash equivalents, and restricted cash classified as Assets held for sale			(14)	0
Net decrease in cash, cash equivalents, and restricted cash			(2,074)	(2,155)
Cash, cash equivalents, and restricted cash at beginning of period			4,585	4,679	$ 4,679
Cash, cash equivalents, and restricted cash at end of period	2,511	2,524	2,511	2,524	4,585
Less: Restricted cash at end of period included in Prepaid expenses and other	(2)	0	(2)	0
Cash and cash equivalents at end of period	$ 2,509	$ 2,524	$ 2,509	$ 2,524	$ 4,583

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Sep. 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 12, “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 and six months ended September 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 six months ended September 30, 2024 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. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. ASU 2024-03 is effective for the Company for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. 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.

Held for Sale

Held for Sale	6 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Held for Sale	Held for Sale Assets and liabilities to be disposed of by sale (“disposal groups”) are classified as “held for sale” if their carrying amounts are principally expected to be recovered through a sale transaction rather than through continuing use. The classification occurs when the disposal group is available for immediate sale and the sale is probable. These criteria are generally met when management has committed to a plan to sell the assets within one year. Disposal groups are measured at the lower of carrying amount or fair value less costs to sell, and long-lived assets included within the disposal group are not depreciated or amortized. The fair value of a disposal group, less any costs to sell, is assessed during each reporting period it remains classified as held for sale, and any remeasurement to the lower of carrying value or fair value less costs to sell is reported as an adjustment to the carrying value of the disposal group. When the net realizable value of a disposal group increases during a period, a gain can be recognized to the extent that it does not increase the value of the disposal group beyond its original carrying value when the disposal group was reclassified as held for sale. The Company determined that the disposal group discussed below did not meet the criteria for classification as discontinued operations. Rexall Health and Well.ca On September 5, 2024, the Company announced an agreement to sell its Rexall and Well.ca businesses in Canada (“Canadian retail disposal group”). The adjusted purchase price of approximately $148 million, net of working capital and other adjustments, includes a payment of $27 million to be made upon closing, and a note of $121 million accruing interest upon satisfaction of certain conditions, measured at fair value, payable to the Company at the end of six years. As of September 30, 2024, the Canadian retail disposal group, consisting of $631 million of assets and $371 million of liabilities within the Company’s International segment, was classified as “Assets held for sale” and “Liabilities held for sale,” respectively, in the Condensed Consolidated Balance Sheet. The transaction is anticipated to close in the second half of fiscal 2025, pursuant to the satisfaction of customary closing conditions, including receipt of regulatory approvals, as applicable. During the three and six months ended September 30, 2024, the Company recorded a charge of $643 million, within “Selling, distribution, general, and administrative expenses” in the Condensed Consolidated Statements of Operations, to remeasure the Canadian retail disposal group to fair value less costs to sell. The remeasurement adjustment includes a $15 million loss related to the accumulated other comprehensive balances associated with the Canadian retail disposal group. The Company’s measurement of the fair value of the Canadian retail disposal group was based on the total consideration expected to be received by the Company as outlined in the transaction agreements. Certain components of the total consideration included fair value measurements that fall within Level 3 of the fair value hierarchy. The total assets and liabilities of the Canadian retail disposal group that have met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheet are as follows: (In millions) September 30, 2024 Assets Current assets Cash $ 14 Receivables, net 65 Inventories, net 219 Prepaid expenses and other 5 Property, plant, and equipment, net 62 Operating lease right-of-use assets 283 Goodwill 47 Intangible assets, net 419 Other non-current assets 160 Remeasurement of assets of businesses held for sale to fair value less costs to sell (1) (643) Total assets held for sale $ 631 Liabilities Current liabilities Drafts and accounts payable $ 15 Current portion of operating lease liabilities 61 Other accrued liabilities 42 Long-term operating lease liabilities 249 Other non-current liabilities 4 Total liabilities held for sale $ 371

Restructuring, Impairment, and

Restructuring, Impairment, and Related Charges, Net	6 Months Ended
	Sep. 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 $234 million and $28 million for the three months ended September 30, 2024 and 2023, respectively, and $244 million and $80 million for the six months ended September 30, 2024 and 2023, respectively. Of these charges $171 million and $181 million were included in “Restructuring, impairment, and related charges, net” and $63 million was included in “Cost of sales” in the Condensed Consolidated Statement of Operations, for each of the three and six months ended September 30, 2024, respectively. Restructuring Initiatives During the second quarter of fiscal 2025, the Company approved enterprise-wide initiatives to modernize and accelerate the technology service operating model, which are intended to improve business continuity, compliance, operating efficiency and advance investments to streamline the organization. These initiatives will also include cost reduction efforts and support other rationalization efforts within Corporate, and the Medical-Surgical Solutions, and U.S. Pharmaceutical segments to help realize long-term sustainable growth. The Company anticipates total charges related to these initiatives of $650 million to $700 million, consisting primarily of employee severance and other employee-related costs as well as facility, exit and other related costs, including long-lived asset impairments. These programs are anticipated to be substantially complete in fiscal 2028. For the three and six months ended September 30, 2024, the Company recorded charges of $227 million related to the initiatives, which primarily includes severance and other employee-related costs as well as facility exit and other related costs, including long-lived asset impairments. 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 and six months ended September 30, 2023, the Company recorded charges of $3 million and $39 million related to this program, respectively, 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 September 30, 2024 and 2023 consisted of the following: Three Months Ended September 30, 2024 (In millions) U.S. Pharmaceutical (1) Prescription Technology Solutions Medical-Surgical Solutions (2) International Corporate Total Severance and employee-related costs, net $ 1 $ — $ 144 $ — $ 4 $ 149 Exit and other-related costs (3) — — 3 (1) 10 12 Asset impairments and accelerated depreciation 63 1 — — 9 73 Total $ 64 $ 1 $ 147 $ (1) $ 23 $ 234 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s U.S. Pharmaceutical segment, including an inventory impairment of $63 million within "Cost of sales" in the Condensed Consolidated Statement of Operations . (2) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Medical-Surgical Solutions segment. (3) 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 September 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate Total Severance and employee-related costs, net $ 8 $ — $ — $ 2 $ — $ 10 Exit and other-related costs (2) 1 3 4 4 6 18 Asset impairments and accelerated depreciation — — — — — — Total $ 9 $ 3 $ 4 $ 6 $ 6 $ 28 (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. Restructuring, impairment, and related charges, net for the six months ended September 30, 2024 and 2023 consisted of the following: Six Months Ended September 30, 2024 (In millions) U.S. Pharmaceutical (1) Prescription Technology Solutions Medical-Surgical Solutions (2) International Corporate Total Severance and employee-related costs, net $ 1 $ — $ 144 $ — $ 3 $ 148 Exit and other-related costs (3) — 3 6 (1) 12 20 Asset impairments and accelerated depreciation 64 2 — 1 9 76 Total $ 65 $ 5 $ 150 $ — $ 24 $ 244 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s U.S. Pharmaceutical segment, including an inventory impairment of $63 million within "Cost of sales" in the Condensed Consolidated Statement of Operations . (2) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Medical-Surgical Solutions segment. (3) 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. Six Months Ended September 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate (1) Total Severance and employee-related costs, net $ 9 $ — $ — $ 2 $ 1 $ 12 Exit and other-related costs (2) 2 5 6 9 18 40 Asset impairments and accelerated depreciation — — — 1 27 28 Total $ 11 $ 5 $ 6 $ 12 $ 46 $ 80 (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 six months ended September 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 65 5 150 — 24 244 Non-cash charges (64) (2) — (1) (9) (76) Cash payments (4) (2) (7) (2) (10) (25) Other (2) (1) (2) — (5) (2) (10) Balance, September 30, 2024 (3) $ 14 $ 4 $ 144 $ 2 $ 24 $ 188 (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, including Canadian retail disposal group reserves. (3) As of September 30, 2024, the total reserve balance was $188 million, of which $160 million was recorded in “Other accrued liabilities” and $28 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was as follows: Three Months Ended September 30, Six Months Ended September 30, (Dollars in millions) 2024 2023 2024 2023 Income tax expense $ 247 $ 213 $ 371 $ 307 Reported income tax rate 46.3 % 23.3 % 22.9 % 15.3 % Fluctuations in the Company’s reported income tax rates were primarily due to non-cash charges related to remeasuring the value of its Canadian retail disposal group held for sale to fair value less costs to sell, changes in the mix of earnings between various taxing jurisdictions and discrete items recognized in the quarters. During the three months ended September 30, 2024, the Company sold certain intellectual property between McKesson wholly-owned legal entities based in foreign 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, a discrete tax benefit of $44 million was recognized in the second quarter of fiscal 2025. During the three and six months ended September 30, 2024, the Company recorded non-cash pre-tax charges of $643 million to remeasure the Canadian retail disposal group to fair value less costs to sell, as described in Financial Note 2, “Held for Sale ” . The Company’s reported income tax rates for the three and six months ended September 30, 2024 were unfavorably impacted by these charges given that no net tax benefit was recognized for these charges. During the six months ended September 30, 2024, the Company also recognized discrete tax benefits of $58 million related to an election to change the tax status of a foreign affiliate, $38 million related to the tax impact of share-based compensation, and $47 million related to the reduction in unrecognized tax benefits due to a change in case law, partially offset by a discrete tax expense of $37 million related to interest expense accrued on unrecognized tax benefits. During the three months ended September 30, 2023, the Company recognized a net discrete tax expense of $12 million primarily related to interest expense accrued on unrecognized tax benefits. During the six months ended September 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 during the three months ended June 30, 2023. As of September 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	6 Months Ended
	Sep. 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 and six months ended September 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 September 30, Six Months Ended September 30, (In millions, except per share amounts) 2024 2023 2024 2023 Net income $ 287 $ 703 $ 1,247 $ 1,700 Net income attributable to noncontrolling interests (46) (39) (91) (78) Net income attributable to McKesson Corporation $ 241 $ 664 $ 1,156 $ 1,622 Weighted-average common shares outstanding: Basic 128.7 134.1 129.3 134.8 Effect of dilutive securities: Stock options 0.1 0.2 0.1 0.2 Restricted stock units (1) 0.5 0.5 0.6 0.7 Diluted 129.3 134.8 130.0 135.7 Earnings per common share attributable to McKesson Corporation: (2) Diluted $ 1.87 $ 4.92 $ 8.89 $ 11.95 Basic $ 1.88 $ 4.95 $ 8.94 $ 12.03 (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	6 Months Ended
	Sep. 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 Corporate Total Balance, March 31, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,449 $ — $ 10,132 Goodwill acquired — — — — — — Disposals (1) — — — (47) — (47) Foreign currency translation adjustments, net — — — 2 — 2 Other adjustments — — (29) — 29 — Balance, September 30, 2024 $ 4,123 $ 2,024 $ 2,507 $ 1,404 $ 29 $ 10,087 (1) Goodwill related to the Canadian retail disposal group discussed in Financial Note 2, “Held for Sale.” Intangible Assets Information regarding intangible assets was as follows: September 30, 2024 March 31, 2024 (Dollars in millions) Weighted- Gross Accumulated Net Gross Accumulated Net Customer relationships 11 $ 1,480 $ (604) $ 876 $ 1,830 $ (701) $ 1,129 Service agreements 9 1,129 (707) 422 1,126 (676) 450 Trademarks and trade names 13 384 (268) 116 759 (395) 364 Technology 10 284 (133) 151 284 (125) 159 Other 6 34 (26) 8 34 (26) 8 Total $ 3,311 $ (1,738) $ 1,573 (1) $ 4,033 $ (1,923) $ 2,110 (1) Excludes net intangible assets of approximately $419 million related to the Canadian retail disposal group discussed in Financial Note 2, “Held for Sale.” This amount was included under the caption “Assets held for sale” in the Condensed Consolidated Balance Sheet as of September 30, 2024. Amortization of these assets ceased upon classification as held for sale in the second quarter of fiscal 2025. All intangible assets, except for those classified as held for sale, were subject to amortization as of September 30, 2024 and March 31, 2024. Amortization expense of intangible assets was $60 million and $62 million for the three months ended September 30, 2024 and 2023, respectively, and $123 million and $124 million for the six months ended September 30, 2024 and 2023, respectively. Estimated amortization expense of the assets listed in the table above is as follows: $102 million, $177 million, $171 million, $166 million, and $164 million for the remainder of fiscal 2025 and each of the succeeding years through fiscal 2029, respectively, and $793 million thereafter.

Debt and Financing Activities

Debt and Financing Activities	6 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt and Financing Activities	Debt and Financing Activities Long-term debt consisted of the following: (In millions) September 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 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 4.25% Notes due September 15, 2029 500 — 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 667 646 1.63% Euro Notes due October 30, 2026 557 540 3.13% Sterling Notes due February 17, 2029 602 568 Lease and other obligations 261 220 Total debt 5,744 5,629 Less: Current portion 53 50 Total long-term debt $ 5,691 $ 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 September 30, 2024 and March 31, 2024, $5.7 billion and $5.6 billion, respectively, of total debt was outstanding, of which $53 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 September 10, 2024, the Company completed a public offering of 4.25% Notes due September 15, 2029 in a principal amount of $500 million (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually on March 15th and September 15th of each year, commencing on March 15, 2025. Proceeds received from the issuance of the 2029 Notes, net of discounts and offering expenses, were $496 million. The Company utilized the net proceeds from the offering of the 2029 Notes together with cash on hand to redeem its $500 million outstanding principal amount of 5.25% Notes due February 15, 2026 (the “2026 Notes”), which became callable on or after February 15, 2024, prior to maturity at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest through the redemption date. The total loss recognized on the debt extinguishment of the 2026 Notes described above for the three and six months ended September 30, 2024 was not material and is included within “Interest expense” in the Company’s Condensed Consolidated Statements of Operations. 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 of the 2029 Notes, the 2033 Notes and the 2028 Notes, constitutes a “series,” 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. Each series is 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 such 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 applicable officers’ certificate) within a specified period, then the Company would be required to make an offer to purchase that series at a price equal to 101% of the then outstanding principal amount of that series, plus accrued and unpaid interest to, but not including, the date of repurchase. The indenture and the related officers’ certificate for each series, 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 extinguishment of the 2024 Notes described above for the six months ended September 30, 2023 was $9 million and was 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 was scheduled to mature in November 2028. On November 7, 2024, the maturity date of the 2022 Credit Facility was extended from November 2028 to November 2029. There were no borrowings under the 2022 Credit Facility during the six months ended September 30, 2024 and 2023 and no amounts outstanding at September 30, 2024 or March 31, 2024. At September 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 six months ended September 30, 2024, the Company borrowed and repaid $6.9 billion under the program. During the six months ended September 30, 2023, the Company borrowed and repaid $2.0 billion under the program. At September 30, 2024 and March 31, 2024, there were no commercial paper notes outstanding.

Hedging Activities

Hedging Activities	6 Months Ended
	Sep. 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 September 30, 2024 and March 31, 2024, the notional amounts of the Company’s outstanding derivatives were as follows: September 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 Aug-27 to Sep-29 $ 750 $ 1,250 Derivatives designated as cash flow hedges: (2) Foreign currency forwards (6) GBP Oct-24 to Jul-25 £ 27 £ 39 (1) The maturity date reflected is for outstanding derivatives as of September 30, 2024. (2) There was no ineffectiveness in these hedges for the three and six months ended September 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. In October 2024, the Company entered into cross-currency swaps designated as net investment hedges with a total notional amount of C$1.0 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 will mature in October 2026. 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 loss. In fiscal 2023, the Company entered into floating interest rate swaps designated as fair value hedges to convert $1.3 billion of its fixed rate debt to floating rate in order to hedge the changes in fair value caused by fluctuations in the benchmark interest rate. In fiscal 2025, $500 million of the $1.3 billion floating interest rate swaps with original maturity dates in February 2026 and callable at any time after February 2024 were terminated. Refer to F inancial Note 7, “Debt and Financing Activities,” for additional information on the public offering of the 2029 Notes. 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 and six months ended September 30, 2024 and 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 7 , “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 September 30, Six Months Ended September 30, (In millions) 2024 2023 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ (20) $ 27 $ (13) $ 7 Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ (14) $ 33 $ (14) $ 27 Foreign currency forwards 2 — 2 — 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 September 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 $ 69 $ 15 $ 1,690 $ 13 $ 1 $ 1,122 Cross-currency swaps (non-current) Other non-current assets/liabilities 97 11 1,771 108 — 1,638 Interest rate swaps (non-current) Other non-current liabilities — 10 750 — 35 1,250 Foreign currency forwards (current) Prepaid expenses and other/Other accrued liabilities 2 — 34 — — 35 Foreign currency forwards (non-current) Other non-current assets — — — — — 15 Total $ 168 $ 36 $ 121 $ 36 Refer to Financial Note 9 , "Fair Value Measurements," for more information on these recurring fair value measurements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 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 September 30, 2024 and March 31, 2024 included investments in money market funds of $549 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 8 , “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 $175 million and $240 million at September 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 loss of $15 million and gain of $95 million for the three and six months ended September 30, 2024, respectively, and an immaterial loss for the three and six months ended September 30, 2023, all of which are included within “Other income, net” in the Condensed Consolidated Statements of Operations. The net gain recognized for the six months ended September 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 $100 million related to this event and sold a portion of its investment for proceeds of $92 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. At September 30, 2024, the assets and liabilities associated with the Canadian retail disposal group classified as held for sale were measured at the lower of carrying value or fair value less costs to sell, as discussed in Financial Note 2, “Held for Sale.” 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 September 30, 2024 and March 31, 2024. Other Fair Value Disclosures At September 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: September 30, 2024 March 31, 2024 (In millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 5,744 $ 5,808 $ 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	6 Months Ended
	Sep. 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 2024 Annual Report and Financial Note 9 to the Company ’ s 10-Q filing for the quarterly period ended June 30, 2024 , 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. These plaintiffs 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 $2.0 billion as of September 30, 2024, and additionally will pay the Settling Governmental Entities up to approximately $5.9 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 $75 million as of September 30, 2024, and additionally will pay approximately $99 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 September 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. A trial of its claims against the Company and another national pharmaceutical distributor began on September 16, 2024 in the Circuit Court of Maryland for Baltimore City, Mayor and City Council of Baltimore v. Purdue Pharma LP, No. 24-C-18-000515 . Baltimore claims that the defendants’ distribution of controlled substances to certain pharmacies in the City of Baltimore and Baltimore County caused a public nuisance. Baltimore is seeking monetary damages and other relief. 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 $112 million as of September 30, 2024, and additionally will pay approximately $84 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 appealed the jury verdict. On September 4, 2024, the Supreme Court of Georgia affirmed the judgment in favor of the Company. The Company and two other national distributors have reached proposed settlements with representatives of nationwide groups of acute care hospitals and certain third-party payors. The claims of remaining U.S. non-governmental plaintiffs are not included in the charges recorded by the Company. 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. On October 30, 2024, the U.S. District Court for the District of New Mexico granted preliminary approval to the proposed settlement. 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, for the six months ended September 30, 2024, the Company 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 U.S. Pharmaceutical, respectively. 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. On September 3, 2024, the U.S. District Court for the Northern District of Ohio granted preliminary approval to the proposed settlement. 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) September 30, 2024 March 31, 2024 Current litigation liabilities (1) $ 775 $ 665 Long-term litigation liabilities 5,617 6,113 Total litigation liabilities $ 6,392 $ 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 six months ended September 30, 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 On May 17, 2013, the Company was served with a complaint filed in the United States District Court for the Northern District of California by True Health Chiropractic Inc., alleging that McKesson sent unsolicited marketing faxes in violation of the Telephone Consumer Protection Act of 1991 (“TCPA”), as amended by the Junk Fax Protection Act of 2005 (“JFPA”), True Health Chiropractic Inc., et al. v. McKesson Corporation, et al ., No. CV-13-02219 (HG). The plaintiffs seek statutory damages from $500 to $1,500 per violation plus injunctive relief. True Health Chiropractic later amended its complaint, adding McLaughlin Chiropractic Associates as an additional named plaintiff and McKesson Technologies Inc. as a defendant. Both plaintiffs alleged that defendants violated the TCPA by sending faxes that did not contain notices regarding how to opt out of receiving the faxes. On August 13, 2019, the court granted plaintiffs’ renewed motion for class certification. After class notice and the opt-out period, 9,490 fax numbers remain in the class, representing 48,769 faxes received. On October 8, 2021, the court de-certified the class citing the plaintiffs lacked class-wide proof identifying the manner of receipt, thus leaving two named plaintiffs remaining in the case. On April 27, 2022, the Court found that the named plaintiffs had failed to meet their burden to show defendants willfully or knowingly violated the TCPA and therefore were not entitled to treble damages. The Court found McKesson liable for statutory damages in the amount of $6,500. The Company appealed the finding of liability and the plaintiffs cross-appealed the denial of class certification and the ruling denying treble damages. On October 25, 2023, the U.S. Court of Appeals for the Ninth Circuit affirmed the decision of the district court. On October 4, 2024, the Supreme Court of the United States granted plaintiffs’ petition for certiorari on the issue of whether the Hobbs Act required the district court to accept the FCC’s legal interpretation of the TCPA in determining whether to certify the class. On June 17, 2014, U.S. Oncology Specialty, LP (“USOS”) was served with a fifth amended qui tam complaint filed in the United States District Court for the Eastern District of New York by a relator alleging that USOS, among others, solicited and received illegal “kickbacks” from Amgen in violation of the Anti-Kickback Statute, the federal False Claims Act, and various state false claims statutes, and seeking damages, treble damages, civil penalties, attorneys’ fees and costs of suit, all in unspecified amounts, United States ex rel. Hanks v. Amgen, Inc., et al. , CV-08-03096 (SJ). Previously, the United States declined to intervene in the case as to all allegations and defendants except for Amgen. On September 17, 2018, the court granted USOS’s motion to dismiss. Following the relator’s appeal, the United States Court of Appeals for the Second Circuit vacated the district court’s order and remanded the suit to the district court, directing it to consider the question of whether the suit should be dismissed for lack of jurisdiction. The district court granted the relator leave to amend the complaint for a seventh time. The relator filed the seventh amended complaint on November 30, 2020. On September 18, 2024, the district court dismissed the False Claims Act claim for lack of subject matter jurisdiction. 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, which was denied on October 7, 2024. On October 17, 2024, the Company was served with a qui tam complaint filed in the United States District Court for the Eastern District of New York by a relator alleging that, from 2010 through at least 2012, the Company submitted false certifications to the government in support of Horizon Clinicals, an Electronic Health Record product. United States ex rel. James Thompson v. McKesson Corporation , No. 16-CV-2891. The United States has declined to intervene in the case. The complaint seeks relief under the False Claims Act including damages, treble damages, civil penalties, attorney fees, and costs of suit. 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. In July 2024, the United States Department of Justice served a Civil Investigative Demand issued pursuant to the False Claims Act on the Company seeking documents and information related to administration of copay coupon programs associated with certain Sun Pharmaceutical Industries Inc. drugs. V. Antitrust Settlement During the second fiscal quarter of 2025, the Company received proceeds of $63 million related to its share of two antitrust settlements. The lawsuits were 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 either litigation but was a member of the representative classes 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 second quarter of fiscal 2025 related to the settlements.

Stockholders' Deficit

Stockholders' Deficit	6 Months Ended
	Sep. 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 September 30, 2024, the Company repurchased 2.9 million shares of common stock for $1.5 billion through open market transactions at an average price per share of $533.46, of which $22 million was accrued within “Other accrued liabilities” in the Company’s Condensed Consolidated Balance Sheets for share repurchases that were executed in late September 2024 and settled in early October 2024. 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 September 30, 2023, the Company repurchased 2.0 million shares of common stock for $840 million through open market transactions at an average price per share of $422.39, of which $23 million was accrued within “Other accrued liabilities” in the Company’s Condensed Consolidated Balance Sheets for share repurchases that were executed in late September 2023 and settled in early October 2023. 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 $15 million and $8 million were incurred and accrued for shares repurchased during the three months ended September 30, 2024 and 2023, respectively. Excise taxes of $16 million and $12 million were incurred and accrued for shares repurchased during the six months ended September 30, 2024 and 2023, respectively. As of September 30, 2024 and March 31, 2024, the amounts accrued for excise taxes were $41 million and $25 million, respectively, within “Other accrued liabilities” in the Company’s Condensed Consolidated Balance Sheets. In July 2024, the Board approved an increase of $4.0 billion in the authorization for the repurchase of common stock. The total remaining authorization outstanding for repurchases of common stock at September 30, 2024 was $8.6 billion. Accumulated Other Comprehensive Loss Information regarding changes in accumulated other comprehensive loss, including noncontrolling interests, by components for the three months ended September 30, 2024 and 2023 was as follows: 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, June 30, 2024 $ (892) $ (7) $ 3 $ (17) $ (913) Other comprehensive income (loss) before reclassifications 49 (15) (9) (1) 24 Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) 49 (15) (9) (2) 23 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 49 (15) (9) (2) 23 Balance, September 30, 2024 $ (843) $ (22) $ (6) $ (19) $ (890) (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 September 30, 2024 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 September 30, 2024 include losses of $14 million related to cash flow and other hedges from cross-currency swaps and gains of $2 million related to cash flow hedges from foreign currency forwards. These amounts are net of income tax benefit of $3 million. 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 (Losses) on Cash Flow and Other Hedges, Net of Tax (3) Unrealized Gains (Losses) and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, June 30, 2023 $ (780) $ (29) $ (29) $ (10) $ (848) Other comprehensive income (loss) before reclassifications (84) 20 25 1 (38) Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) (84) 20 25 — (39) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (84) 20 25 — (39) Balance, September 30, 2023 $ (864) $ (9) $ (4) $ (10) $ (887) (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 September 30, 2023 include gains of $27 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $7 million. (3) Amounts recorded for the three months ended September 30, 2023 include gains of $33 million related to cash flow and other hedges from cross-currency swaps, which are net of income tax expense of $8 million. Information regarding changes in accumulated other comprehensive loss, including noncontrolling interests, by components for the six months ended September 30, 2024 and 2023 was as follows: 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, 2024 $ (856) $ (12) $ 3 $ (16) $ (881) Other comprehensive income (loss) before reclassifications 13 (10) (9) (2) (8) Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) 13 (10) (9) (3) (9) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 13 (10) (9) (3) (9) Balance, September 30, 2024 $ (843) $ (22) $ (6) $ (19) $ (890) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Europe into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the six months ended September 30, 2024 include losses of $13 million related to net investment hedges from cross-currency swaps, which are net of income tax benefit of $3 million. (3) Amounts recorded for the six months ended September 30, 2024 include losses of $14 million related to cash flow and other hedges from cross-currency swaps and gains of $2 million related to cash flow hedges from foreign currency forwards. These amounts are net of income tax benefit of $3 million. 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 (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 (17) 5 32 (1) 19 Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) (17) 5 32 (2) 18 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (17) 5 32 (2) 18 Balance, September 30, 2023 $ (864) $ (9) $ (4) $ (10) $ (887) (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 six months ended September 30, 2023 include gains of $7 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $2 million. (3)

Segments of Business

Segments of Business	6 Months Ended
	Sep. 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 and operations. 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 (loss) 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. In the second quarter of fiscal 2025, the Company entered into an agreement to sell the Canadian retail disposal group. Refer to Financial Note 2, “Held for Sale,” for more information. Financial information relating to the Company’s reportable operating segments and reconciliations to the condensed consolidated totals was as follows: Three Months Ended September 30, Six Months Ended September 30, (In millions) 2024 2023 2024 2023 Segment revenues (1) U.S. Pharmaceutical $ 85,726 $ 69,766 $ 157,441 $ 136,926 Prescription Technology Solutions 1,265 1,140 2,506 2,384 Medical-Surgical Solutions 2,948 2,834 5,584 5,445 International 3,709 3,475 7,400 6,943 Corporate 3 — 3 — Total revenues $ 93,651 $ 77,215 $ 172,934 $ 151,698 Segment operating profit (loss) (2) U.S. Pharmaceutical (3) $ 1,075 $ 593 $ 1,856 $ 1,420 Prescription Technology Solutions (4) 205 238 408 469 Medical-Surgical Solutions (5) 89 244 277 471 International (6) (508) 66 (418) 123 Subtotal 861 1,141 2,123 2,483 Corporate expenses, net (7) (249) (164) (352) (368) Interest expense (78) (61) (153) (108) Income before income taxes $ 534 $ 916 $ 1,618 $ 2,007 (1) Revenues from services on a disaggregated basis represent approximately 1% of the U.S. Pharmaceutical segment’s total revenues, less than 40% 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. Corporate reflects revenues from services derived in the U.S. related to certain technology operations and were not material for the three and six months ended September 30, 2024. (2) Segment operating profit (loss) 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: • a credit of $203 million for the three and six months ended September 30, 2024 due to the Company’s reassessment of its initial fiscal 2024 estimates of the previously reserved $725 million prepetition balance owed by the Company’s customer, Rite Aid Corporation (including certain of its subsidiaries, “Rite Aid”). Rite Aid filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in October 2023. The Company recognized a provision for bad debts of $210 million for the three and six months ended September 30, 2023, which represented the uncollected trade accounts receivable balance as of September 30, 2023 due from Rite Aid. The amounts described above were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Condensed Consolidated Statements of Operations. Rite Aid's restructuring plan was approved by the court and the company successfully emerged from bankruptcy in August, 2024; • cash receipts for the Company’s share of antitrust legal settlements of $63 million and $79 million for the three months ended September 30, 2024 and 2023, respectively, and $153 million and $197 million for the six months ended September 30, 2024 and 2023, respectively. These gains were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • a credit of $2 million and a charge of $55 million related to the last-in, first-out method of accounting for inventories for the three months ended September 30, 2024 and 2023, respectively, and a credit of $4 million and a charge of $87 million for the six months ended September 30, 2024 and 2023, respectively. These amounts were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • restructuring charges of $64 million for the three and six months ended September 30, 2024 for restructuring initiatives that commenced in the second quarter of fiscal 2025 as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net ; ” • a charge of $57 million for the six months ended September 30, 2024 related to the estimated liability for opioid-related claims, as discussed in Financial Note 10 , “Commitments and Contingent Liabilities;" and • a loss of $43 million for the six months ended September 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. (4) The Company’s RxTS segment’s operating profit for the three and six months ended September 30, 2023 includes gains of $48 million and $76 million, respectively, resulting from fair value adjustments of the Company’s contingent consideration liability related to the acquisition of Rx Savings Solutions, LLC completed in November 2022. (5) The Company’s Medical-Surgical Solutions segment’s operating profit for the three and six months ended September 30, 2024 includes restructuring charges of $144 million for restructuring initiatives that commenced in the second quarter of fiscal 2025 as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net.” (6) The Company’s International segment’s operating profit (loss) for the three and six months ended September 30, 2024 includes a charge of $593 million to remeasure the assets and liabilities of the Canadian retail disposal group to fair value less costs to sell, as discussed in Financial Note 2, “Held for Sale . ” (7) Corporate expenses, net includes the following: • a charge of $50 million for the three and six months ended September 30, 2024 related to the effect of accumulated other comprehensive loss components from the Canadian retail disposal group, as discussed in Financial Note 2, “Held for Sale ; ” • a net gain of $95 million for the six months ended September 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 Financial Note 9 , “Fair Value Measurements;” • a net charge of $51 million for the six months ended September 30, 2024 related to the estimated liability for opioid-related claims, as discussed in Financial Note 10 , “Commitments and Contingent Liabilities; " and • restructuring charges of $46 million for the six months ended September 30, 2023 for restructuring initiatives as discussed in Financial Note 3 , “Restructuring, Impairment, and Related Charges, Net.”

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 241	$ 664	$ 1,156	$ 1,622

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Thomas Rodgers [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 17, 2024, Thomas Rodgers, our Executive Vice President and Chief Strategy and Business Development Officer, adopted a Rule 10b5-1 trading arrangement for the sale of up to 4,080 shares of the Company’s common stock. The duration of the trading arrangement is until August 18, 2025, or earlier if all transactions under the trading arrangement are completed or if the trading arrangement is otherwise terminated according to its terms. The trading arrangement was entered into during an open trading window period and Mr. Rodgers represented to us that he intended for it to satisfy the requirements for the affirmative defense of Rule 10b5-1(c) of the Exchange Act. The number of shares subject to the arrangement includes shares that may be withheld by the Company to satisfy income tax withholding and remittance obligations in connection with the net settlement of equity awards.
Name	Thomas Rodgers
Title	Executive Vice President and Chief Strategy and Business Development Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 17, 2024
Expiration Date	August 18, 2025
Arrangement Duration	366 days
Aggregate Available	4,080	4,080
LeAnn Smith [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 9, 2024, LeAnn Smith, our Executive Vice President and Chief Human Resources Officer, adopted a Rule 10b5-1 trading arrangement for the sale of up to 3,592 shares of the Company’s common stock. The duration of the trading arrangement is until September 9, 2025, or earlier if all transactions under the trading arrangement are completed or if the trading arrangement is otherwise terminated according to its terms. The trading arrangement was entered into during an open trading window period and Ms. Smith represented to us that she intended for it to satisfy the requirements for the affirmative defense of Rule 10b5-1(c) of the Exchange Act. The number of shares subject to the arrangement includes shares that may be withheld by the Company to satisfy income tax withholding and remittance obligations in connection with the net settlement of equity awards.
Name	LeAnn Smith
Title	Executive Vice President and Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 9, 2024
Expiration Date	September 9, 2025
Arrangement Duration	365 days
Aggregate Available	3,592	3,592

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 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 six months ended September 30, 2024 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. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. ASU 2024-03 is effective for the Company for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. 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 September 30, 2024 and March 31, 2024 included investments in money market funds of $549 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 8 , “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 $175 million and $240 million at September 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 loss of $15 million and gain of $95 million for the three and six months ended September 30, 2024, respectively, and an immaterial loss for the three and six months ended September 30, 2023, all of which are included within “Other income, net” in the Condensed Consolidated Statements of Operations. The net gain recognized for the six months ended September 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 $100 million related to this event and sold a portion of its investment for proceeds of $92 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. At September 30, 2024, the assets and liabilities associated with the Canadian retail disposal group classified as held for sale were measured at the lower of carrying value or fair value less costs to sell, as discussed in Financial Note 2, “Held for Sale.” 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. In October 2024, the Company entered into cross-currency swaps designated as net investment hedges with a total notional amount of C$1.0 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 will mature in October 2026. 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 loss. In fiscal 2023, the Company entered into floating interest rate swaps designated as fair value hedges to convert $1.3 billion of its fixed rate debt to floating rate in order to hedge the changes in fair value caused by fluctuations in the benchmark interest rate. In fiscal 2025, $500 million of the $1.3 billion floating interest rate swaps with original maturity dates in February 2026 and callable at any time after February 2024 were terminated. Refer to F inancial Note 7, “Debt and Financing Activities,” for additional information on the public offering of the 2029 Notes. 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 and six months ended September 30, 2024 and 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 7 , “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.
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 2024 Annual Report and Financial Note 9 to the Company ’ s 10-Q filing for the quarterly period ended June 30, 2024 , 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.

Held for Sale (Tables)

Held for Sale (Tables)	6 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Assets and Liabilities Held for Sale	The total assets and liabilities of the Canadian retail disposal group that have met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheet are as follows: (In millions) September 30, 2024 Assets Current assets Cash $ 14 Receivables, net 65 Inventories, net 219 Prepaid expenses and other 5 Property, plant, and equipment, net 62 Operating lease right-of-use assets 283 Goodwill 47 Intangible assets, net 419 Other non-current assets 160 Remeasurement of assets of businesses held for sale to fair value less costs to sell (1) (643) Total assets held for sale $ 631 Liabilities Current liabilities Drafts and accounts payable $ 15 Current portion of operating lease liabilities 61 Other accrued liabilities 42 Long-term operating lease liabilities 249 Other non-current liabilities 4 Total liabilities held for sale $ 371 (1) Includes intercompany trade accounts payable of $142 million, primarily related to purchases of inventories from McKesson Canada. These balances are expected to be assumed by the buyer upon divestiture and are excluded from Drafts and accounts payable above as they are fully eliminated in the Company’s consolidated financial statements.

Restructuring, Impairment, an_2

Restructuring, Impairment, and Related Charges, Net (Tables)	6 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring, Impairment, and Related Costs	Restructuring, impairment, and related charges, net for the three months ended September 30, 2024 and 2023 consisted of the following: Three Months Ended September 30, 2024 (In millions) U.S. Pharmaceutical (1) Prescription Technology Solutions Medical-Surgical Solutions (2) International Corporate Total Severance and employee-related costs, net $ 1 $ — $ 144 $ — $ 4 $ 149 Exit and other-related costs (3) — — 3 (1) 10 12 Asset impairments and accelerated depreciation 63 1 — — 9 73 Total $ 64 $ 1 $ 147 $ (1) $ 23 $ 234 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s U.S. Pharmaceutical segment, including an inventory impairment of $63 million within "Cost of sales" in the Condensed Consolidated Statement of Operations . (2) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Medical-Surgical Solutions segment. (3) 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 September 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate Total Severance and employee-related costs, net $ 8 $ — $ — $ 2 $ — $ 10 Exit and other-related costs (2) 1 3 4 4 6 18 Asset impairments and accelerated depreciation — — — — — — Total $ 9 $ 3 $ 4 $ 6 $ 6 $ 28 (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. Restructuring, impairment, and related charges, net for the six months ended September 30, 2024 and 2023 consisted of the following: Six Months Ended September 30, 2024 (In millions) U.S. Pharmaceutical (1) Prescription Technology Solutions Medical-Surgical Solutions (2) International Corporate Total Severance and employee-related costs, net $ 1 $ — $ 144 $ — $ 3 $ 148 Exit and other-related costs (3) — 3 6 (1) 12 20 Asset impairments and accelerated depreciation 64 2 — 1 9 76 Total $ 65 $ 5 $ 150 $ — $ 24 $ 244 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s U.S. Pharmaceutical segment, including an inventory impairment of $63 million within "Cost of sales" in the Condensed Consolidated Statement of Operations . (2) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Medical-Surgical Solutions segment. (3) 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. Six Months Ended September 30, 2023 (In millions) U.S. Pharmaceutical Prescription Technology Solutions (1) Medical-Surgical Solutions International Corporate (1) Total Severance and employee-related costs, net $ 9 $ — $ — $ 2 $ 1 $ 12 Exit and other-related costs (2) 2 5 6 9 18 40 Asset impairments and accelerated depreciation — — — 1 27 28 Total $ 11 $ 5 $ 6 $ 12 $ 46 $ 80 (1) Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions. (2)
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 six months ended September 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 65 5 150 — 24 244 Non-cash charges (64) (2) — (1) (9) (76) Cash payments (4) (2) (7) (2) (10) (25) Other (2) (1) (2) — (5) (2) (10) Balance, September 30, 2024 (3) $ 14 $ 4 $ 144 $ 2 $ 24 $ 188 (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, including Canadian retail disposal group reserves. (3) As of September 30, 2024, the total reserve balance was $188 million, of which $160 million was recorded in “Other accrued liabilities” and $28 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense was as follows: Three Months Ended September 30, Six Months Ended September 30, (Dollars in millions) 2024 2023 2024 2023 Income tax expense $ 247 $ 213 $ 371 $ 307 Reported income tax rate 46.3 % 23.3 % 22.9 % 15.3 %

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, (In millions, except per share amounts) 2024 2023 2024 2023 Net income $ 287 $ 703 $ 1,247 $ 1,700 Net income attributable to noncontrolling interests (46) (39) (91) (78) Net income attributable to McKesson Corporation $ 241 $ 664 $ 1,156 $ 1,622 Weighted-average common shares outstanding: Basic 128.7 134.1 129.3 134.8 Effect of dilutive securities: Stock options 0.1 0.2 0.1 0.2 Restricted stock units (1) 0.5 0.5 0.6 0.7 Diluted 129.3 134.8 130.0 135.7 Earnings per common share attributable to McKesson Corporation: (2) Diluted $ 1.87 $ 4.92 $ 8.89 $ 11.95 Basic $ 1.88 $ 4.95 $ 8.94 $ 12.03 (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)	6 Months Ended
	Sep. 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 Corporate Total Balance, March 31, 2024 $ 4,123 $ 2,024 $ 2,536 $ 1,449 $ — $ 10,132 Goodwill acquired — — — — — — Disposals (1) — — — (47) — (47) Foreign currency translation adjustments, net — — — 2 — 2 Other adjustments — — (29) — 29 — Balance, September 30, 2024 $ 4,123 $ 2,024 $ 2,507 $ 1,404 $ 29 $ 10,087 (1) Goodwill related to the Canadian retail disposal group discussed in Financial Note 2, “Held for Sale.”
Schedule of Information Regarding Intangible Assets	Information regarding intangible assets was as follows: September 30, 2024 March 31, 2024 (Dollars in millions) Weighted- Gross Accumulated Net Gross Accumulated Net Customer relationships 11 $ 1,480 $ (604) $ 876 $ 1,830 $ (701) $ 1,129 Service agreements 9 1,129 (707) 422 1,126 (676) 450 Trademarks and trade names 13 384 (268) 116 759 (395) 364 Technology 10 284 (133) 151 284 (125) 159 Other 6 34 (26) 8 34 (26) 8 Total $ 3,311 $ (1,738) $ 1,573 (1) $ 4,033 $ (1,923) $ 2,110 (1) Excludes net intangible assets of approximately $419 million related to the Canadian retail disposal group discussed in Financial Note 2, “Held for Sale.” This amount was included under the caption “Assets held for sale” in the Condensed Consolidated Balance Sheet as of September 30, 2024. Amortization of these assets ceased upon classification as held for sale in the second quarter of fiscal 2025.

Debt and Financing Activities (

Debt and Financing Activities (Tables)	6 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: (In millions) September 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 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 4.25% Notes due September 15, 2029 500 — 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 667 646 1.63% Euro Notes due October 30, 2026 557 540 3.13% Sterling Notes due February 17, 2029 602 568 Lease and other obligations 261 220 Total debt 5,744 5,629 Less: Current portion 53 50 Total long-term debt $ 5,691 $ 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)	6 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	At September 30, 2024 and March 31, 2024, the notional amounts of the Company’s outstanding derivatives were as follows: September 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 Aug-27 to Sep-29 $ 750 $ 1,250 Derivatives designated as cash flow hedges: (2) Foreign currency forwards (6) GBP Oct-24 to Jul-25 £ 27 £ 39 (1) The maturity date reflected is for outstanding derivatives as of September 30, 2024. (2) There was no ineffectiveness in these hedges for the three and six months ended September 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 September 30, Six Months Ended September 30, (In millions) 2024 2023 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ (20) $ 27 $ (13) $ 7 Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ (14) $ 33 $ (14) $ 27 Foreign currency forwards 2 — 2 — 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 September 30, Six Months Ended September 30, (In millions) 2024 2023 2024 2023 Derivatives designated as net investment hedges: Cross-currency swaps $ (20) $ 27 $ (13) $ 7 Derivatives designated as cash flow and other hedges: Cross-currency swaps (1) $ (14) $ 33 $ (14) $ 27 Foreign currency forwards 2 — 2 — 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 September 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 $ 69 $ 15 $ 1,690 $ 13 $ 1 $ 1,122 Cross-currency swaps (non-current) Other non-current assets/liabilities 97 11 1,771 108 — 1,638 Interest rate swaps (non-current) Other non-current liabilities — 10 750 — 35 1,250 Foreign currency forwards (current) Prepaid expenses and other/Other accrued liabilities 2 — 34 — — 35 Foreign currency forwards (non-current) Other non-current assets — — — — — 15 Total $ 168 $ 36 $ 121 $ 36

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 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: September 30, 2024 March 31, 2024 (In millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 5,744 $ 5,808 $ 5,629 $ 5,488

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Sep. 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) September 30, 2024 March 31, 2024 Current litigation liabilities (1) $ 775 $ 665 Long-term litigation liabilities 5,617 6,113 Total litigation liabilities $ 6,392 $ 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)	6 Months Ended
	Sep. 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 September 30, 2024 and 2023 was as follows: 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, June 30, 2024 $ (892) $ (7) $ 3 $ (17) $ (913) Other comprehensive income (loss) before reclassifications 49 (15) (9) (1) 24 Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) 49 (15) (9) (2) 23 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 49 (15) (9) (2) 23 Balance, September 30, 2024 $ (843) $ (22) $ (6) $ (19) $ (890) (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 September 30, 2024 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 September 30, 2024 include losses of $14 million related to cash flow and other hedges from cross-currency swaps and gains of $2 million related to cash flow hedges from foreign currency forwards. These amounts are net of income tax benefit of $3 million. 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 (Losses) on Cash Flow and Other Hedges, Net of Tax (3) Unrealized Gains (Losses) and Other Components of Benefit Plans, Net of Tax Total Accumulated Other Comprehensive Loss Balance, June 30, 2023 $ (780) $ (29) $ (29) $ (10) $ (848) Other comprehensive income (loss) before reclassifications (84) 20 25 1 (38) Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) (84) 20 25 — (39) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (84) 20 25 — (39) Balance, September 30, 2023 $ (864) $ (9) $ (4) $ (10) $ (887) (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 September 30, 2023 include gains of $27 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $7 million. (3) Amounts recorded for the three months ended September 30, 2023 include gains of $33 million related to cash flow and other hedges from cross-currency swaps, which are net of income tax expense of $8 million. Information regarding changes in accumulated other comprehensive loss, including noncontrolling interests, by components for the six months ended September 30, 2024 and 2023 was as follows: 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, 2024 $ (856) $ (12) $ 3 $ (16) $ (881) Other comprehensive income (loss) before reclassifications 13 (10) (9) (2) (8) Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) 13 (10) (9) (3) (9) Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson 13 (10) (9) (3) (9) Balance, September 30, 2024 $ (843) $ (22) $ (6) $ (19) $ (890) (1) Primarily results from the conversion of non-U.S. dollar financial statements of the Company’s operations in Canada and Europe into the Company’s reporting currency, U.S. dollars. (2) Amounts recorded for the six months ended September 30, 2024 include losses of $13 million related to net investment hedges from cross-currency swaps, which are net of income tax benefit of $3 million. (3) Amounts recorded for the six months ended September 30, 2024 include losses of $14 million related to cash flow and other hedges from cross-currency swaps and gains of $2 million related to cash flow hedges from foreign currency forwards. These amounts are net of income tax benefit of $3 million. 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 (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 (17) 5 32 (1) 19 Amounts reclassified to earnings and other — — — (1) (1) Other comprehensive income (loss) (17) 5 32 (2) 18 Less: amounts attributable to noncontrolling interests — — — — — Other comprehensive income (loss) attributable to McKesson (17) 5 32 (2) 18 Balance, September 30, 2023 $ (864) $ (9) $ (4) $ (10) $ (887) (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 six months ended September 30, 2023 include gains of $7 million related to net investment hedges from cross-currency swaps, which are net of income tax expense of $2 million. (3)

Segments of Business (Tables)

Segments of Business (Tables)	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, (In millions) 2024 2023 2024 2023 Segment revenues (1) U.S. Pharmaceutical $ 85,726 $ 69,766 $ 157,441 $ 136,926 Prescription Technology Solutions 1,265 1,140 2,506 2,384 Medical-Surgical Solutions 2,948 2,834 5,584 5,445 International 3,709 3,475 7,400 6,943 Corporate 3 — 3 — Total revenues $ 93,651 $ 77,215 $ 172,934 $ 151,698 Segment operating profit (loss) (2) U.S. Pharmaceutical (3) $ 1,075 $ 593 $ 1,856 $ 1,420 Prescription Technology Solutions (4) 205 238 408 469 Medical-Surgical Solutions (5) 89 244 277 471 International (6) (508) 66 (418) 123 Subtotal 861 1,141 2,123 2,483 Corporate expenses, net (7) (249) (164) (352) (368) Interest expense (78) (61) (153) (108) Income before income taxes $ 534 $ 916 $ 1,618 $ 2,007 (1) Revenues from services on a disaggregated basis represent approximately 1% of the U.S. Pharmaceutical segment’s total revenues, less than 40% 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. Corporate reflects revenues from services derived in the U.S. related to certain technology operations and were not material for the three and six months ended September 30, 2024. (2) Segment operating profit (loss) 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: • a credit of $203 million for the three and six months ended September 30, 2024 due to the Company’s reassessment of its initial fiscal 2024 estimates of the previously reserved $725 million prepetition balance owed by the Company’s customer, Rite Aid Corporation (including certain of its subsidiaries, “Rite Aid”). Rite Aid filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in October 2023. The Company recognized a provision for bad debts of $210 million for the three and six months ended September 30, 2023, which represented the uncollected trade accounts receivable balance as of September 30, 2023 due from Rite Aid. The amounts described above were recorded within “Selling, distribution, general, and administrative expenses” in the Company’s Condensed Consolidated Statements of Operations. Rite Aid's restructuring plan was approved by the court and the company successfully emerged from bankruptcy in August, 2024; • cash receipts for the Company’s share of antitrust legal settlements of $63 million and $79 million for the three months ended September 30, 2024 and 2023, respectively, and $153 million and $197 million for the six months ended September 30, 2024 and 2023, respectively. These gains were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • a credit of $2 million and a charge of $55 million related to the last-in, first-out method of accounting for inventories for the three months ended September 30, 2024 and 2023, respectively, and a credit of $4 million and a charge of $87 million for the six months ended September 30, 2024 and 2023, respectively. These amounts were recorded within “Cost of sales” in the Company’s Condensed Consolidated Statements of Operations; • restructuring charges of $64 million for the three and six months ended September 30, 2024 for restructuring initiatives that commenced in the second quarter of fiscal 2025 as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net ; ” • a charge of $57 million for the six months ended September 30, 2024 related to the estimated liability for opioid-related claims, as discussed in Financial Note 10 , “Commitments and Contingent Liabilities;" and • a loss of $43 million for the six months ended September 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. (4) The Company’s RxTS segment’s operating profit for the three and six months ended September 30, 2023 includes gains of $48 million and $76 million, respectively, resulting from fair value adjustments of the Company’s contingent consideration liability related to the acquisition of Rx Savings Solutions, LLC completed in November 2022. (5) The Company’s Medical-Surgical Solutions segment’s operating profit for the three and six months ended September 30, 2024 includes restructuring charges of $144 million for restructuring initiatives that commenced in the second quarter of fiscal 2025 as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net.” (6) The Company’s International segment’s operating profit (loss) for the three and six months ended September 30, 2024 includes a charge of $593 million to remeasure the assets and liabilities of the Canadian retail disposal group to fair value less costs to sell, as discussed in Financial Note 2, “Held for Sale . ” (7) Corporate expenses, net includes the following: • a charge of $50 million for the three and six months ended September 30, 2024 related to the effect of accumulated other comprehensive loss components from the Canadian retail disposal group, as discussed in Financial Note 2, “Held for Sale ; ” • a net gain of $95 million for the six months ended September 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 Financial Note 9 , “Fair Value Measurements;” • a net charge of $51 million for the six months ended September 30, 2024 related to the estimated liability for opioid-related claims, as discussed in Financial Note 10 , “Commitments and Contingent Liabilities; " and • restructuring charges of $46 million for the six months ended September 30, 2023 for restructuring initiatives as discussed in Financial Note 3 , “Restructuring, Impairment, and Related Charges, Net.”

Significant Accounting Polici_3

Significant Accounting Policies (Details)	6 Months Ended
	Sep. 30, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	4

Held for Sale - Narrative (Deta

Held for Sale - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Sep. 05, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Charge to remeasure disposal group			$ 638	$ 0
Held-for-sale | Canadian retail disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price	$ 148
Cash proceeds from divestiture	27
Noncash divestiture, amount of consideration received	$ 121
Noncash divestiture payable period (in years)	6 years
Assets held for sale		$ 631	631
Liabilities held for sale		371	371
Charge to remeasure disposal group		643	643
Accumulated other comprehensive loss in charge for remeasurement to fair value		$ 15	$ 15

Held for Sale - Schedule of Ass

Held for Sale - Schedule of Assets and Liabilities Held for Sale (Details) - Canadian retail disposal group - Held-for-sale $ in Millions	Sep. 30, 2024 USD ($)
Assets
Cash	$ 14
Receivables, net	65
Inventories, net	219
Prepaid expenses and other	5
Property, plant, and equipment, net	62
Operating lease right-of-use assets	283
Goodwill	47
Intangible assets, net	419
Other non-current assets	160
Remeasurement of assets of businesses held for sale to fair value less costs to sell	(643)
Total assets held for sale	631
Liabilities
Drafts and accounts payable	15
Current portion of operating lease liabilities	61
Other accrued liabilities	42
Long-term operating lease liabilities	249
Other non-current liabilities	4
Total liabilities held for sale	371
Trade accounts payable	$ 142

Restructuring, Impairment, an_3

Restructuring, Impairment, and Related Charges, Net - Narrtive (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges	$ 234	$ 28	$ 244	$ 80
Restructuring, impairment, and related charges, net	171	28	181	80
Restructuring, Impairment, And Related Charges, Net
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges, net	171		181
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges, net	63		63
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges	227	$ 3	227	$ 39
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring, anticipated total charges	650		650
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring, anticipated total charges	$ 700		$ 700

Restructuring, Impairment, an_4

Restructuring, Impairment, and Related Charges, Net - Summary of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	$ 149	$ 10	$ 148	$ 12
Exit and other-related costs	12	18	20	40
Asset impairments and accelerated depreciation	73	0	76	28
Total	234	28	244	80
Restructuring, impairment, and related charges, net	171	28	181	80
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges, net	63		63
U.S. Pharmaceutical | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment, and related charges, net	63		63
Operating Segments | U.S. Pharmaceutical
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	1	8	1	9
Exit and other-related costs	0	1	0	2
Asset impairments and accelerated depreciation	63	0	64	0
Total	64	9	65	11
Operating Segments | Prescription Technology Solutions
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	0	0	0
Exit and other-related costs	0	3	3	5
Asset impairments and accelerated depreciation	1	0	2	0
Total	1	3	5	5
Operating Segments | Medical-Surgical Solutions
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	144	0	144	0
Exit and other-related costs	3	4	6	6
Asset impairments and accelerated depreciation	0	0	0	0
Total	147	4	150	6
Operating Segments | International
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	0	2	0	2
Exit and other-related costs	(1)	4	(1)	9
Asset impairments and accelerated depreciation	0	0	1	1
Total	(1)	6	0	12
Corporate
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs, net	4	0	3	1
Exit and other-related costs	10	6	12	18
Asset impairments and accelerated depreciation	9	0	9	27
Total	$ 23	$ 6	$ 24	$ 46

Restructuring, Impairment, an_5

Restructuring, Impairment, and Related Charges, Net - Summary of Restructuring Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Beginning balance			$ 55
Restructuring, impairment, and related charges, net	$ 234	$ 28	244	$ 80
Non-cash charges			(76)
Cash payments			(25)
Other			(10)
Ending balance	188		188
Operating Segments | U.S. Pharmaceutical
Restructuring Reserve [Roll Forward]
Beginning balance			18
Restructuring, impairment, and related charges, net	64	9	65	11
Non-cash charges			(64)
Cash payments			(4)
Other			(1)
Ending balance	14		14
Operating Segments | Prescription Technology Solutions
Restructuring Reserve [Roll Forward]
Beginning balance			5
Restructuring, impairment, and related charges, net	1	3	5	5
Non-cash charges			(2)
Cash payments			(2)
Other			(2)
Ending balance	4		4
Operating Segments | Medical-Surgical Solutions
Restructuring Reserve [Roll Forward]
Beginning balance			1
Restructuring, impairment, and related charges, net	147	4	150	6
Non-cash charges			0
Cash payments			(7)
Other			0
Ending balance	144		144
Operating Segments | International
Restructuring Reserve [Roll Forward]
Beginning balance			10
Restructuring, impairment, and related charges, net	(1)	6	0	12
Non-cash charges			(1)
Cash payments			(2)
Other			(5)
Ending balance	2		2
Corporate
Restructuring Reserve [Roll Forward]
Beginning balance			21
Restructuring, impairment, and related charges, net	23	$ 6	24	$ 46
Non-cash charges			(9)
Cash payments			(10)
Other			(2)
Ending balance	24		24
Accrued Liabilities
Restructuring Reserve [Roll Forward]
Beginning balance			24
Ending balance	160		160
Other Non-Current Liabilities
Restructuring Reserve [Roll Forward]
Beginning balance			31
Ending balance	$ 28		$ 28

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 247	$ 213	$ 371	$ 307
Reported income tax rate	46.30%	23.30%	22.90%	15.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Contingency [Line Items]
Tax expense (benefit), intra-entity transfers of assets other than inventory, amount	$ (44)		$ (147)
Canadian businesses held for sale				$ 638	$ 0
Effective income tax rate reconciliation, foreign income tax rate differential, expense (benefit)				(58)
Tax expense (benefit), share-based payment arrangement				(38)
Unrecognized tax benefits, increase (decrease)				(47)
Tax contingency, interest expense, amount		$ 12		37
Unrecognized tax benefits	1,400			1,400
Unrecognized tax benefits that would impact effective tax rate	1,300			1,300
Held-for-sale | Canadian retail disposal group
Income Tax Contingency [Line Items]
Canadian businesses held for sale	$ 643			$ 643

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Potentially dilutive securities excluded from diluted earnings per share (less than)	1,000,000	1,000,000	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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 287	$ 703	$ 1,247	$ 1,700
Net income attributable to noncontrolling interests	(46)	(39)	(91)	(78)
Net income attributable to McKesson Corporation	$ 241	$ 664	$ 1,156	$ 1,622
Weighted-average common shares outstanding:
Basic (in shares)	128.7	134.1	129.3	134.8
Diluted (in shares)	129.3	134.8	130	135.7
Earnings (loss) per common share attributable to McKesson Corporation:
Diluted (in usd per share)	$ 1.87	$ 4.92	$ 8.89	$ 11.95
Basic (in usd per share)	$ 1.88	$ 4.95	$ 8.94	$ 12.03
Stock options
Weighted-average common shares outstanding:
Effect of dilutive securities (in shares)	0.1	0.2	0.1	0.2
Restricted stock units
Weighted-average common shares outstanding:
Effect of dilutive securities (in shares)	0.5	0.5	0.6	0.7

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Schedule of Changes in the Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 10,132
Goodwill acquired	0
Disposals (1)	(47)
Foreign currency translation adjustments, net	2
Other adjustments	0
Ending balance	10,087
U.S. Pharmaceutical
Goodwill [Roll Forward]
Beginning balance	4,123
Goodwill acquired	0
Disposals (1)	0
Foreign currency translation adjustments, net	0
Other adjustments	0
Ending balance	4,123
Prescription Technology Solutions
Goodwill [Roll Forward]
Beginning balance	2,024
Goodwill acquired	0
Disposals (1)	0
Foreign currency translation adjustments, net	0
Other adjustments	0
Ending balance	2,024
Medical-Surgical Solutions
Goodwill [Roll Forward]
Beginning balance	2,536
Goodwill acquired	0
Disposals (1)	0
Foreign currency translation adjustments, net	0
Other adjustments	(29)
Ending balance	2,507
International
Goodwill [Roll Forward]
Beginning balance	1,449
Goodwill acquired	0
Disposals (1)	(47)
Foreign currency translation adjustments, net	2
Other adjustments	0
Ending balance	1,404
Corporate
Goodwill [Roll Forward]
Beginning balance	0
Goodwill acquired	0
Disposals (1)	0
Foreign currency translation adjustments, net	0
Other adjustments	29
Ending balance	$ 29

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Schedule of Information Regarding Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,311	$ 4,033
Accumulated Amortization	(1,738)	(1,923)
Net Carrying Amount	1,573	2,110
Held-for-sale | Canadian retail disposal group
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 419
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	11 years
Gross Carrying Amount	$ 1,480	1,830
Accumulated Amortization	(604)	(701)
Net Carrying Amount	$ 876	1,129
Service agreements
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	9 years
Gross Carrying Amount	$ 1,129	1,126
Accumulated Amortization	(707)	(676)
Net Carrying Amount	$ 422	450
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	13 years
Gross Carrying Amount	$ 384	759
Accumulated Amortization	(268)	(395)
Net Carrying Amount	$ 116	364
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	10 years
Gross Carrying Amount	$ 284	284
Accumulated Amortization	(133)	(125)
Net Carrying Amount	$ 151	159
Other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Amortization Period (Years)	6 years
Gross Carrying Amount	$ 34	34
Accumulated Amortization	(26)	(26)
Net Carrying Amount	$ 8	$ 8

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 60	$ 62	$ 123	$ 124
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Estimated annual amortization expense, remainder of 2025	102		102
Estimated annual amortization expense, 2026	177		177
Estimated annual amortization expense, 2027	171		171
Estimated annual amortization expense, 2028	166		166
Estimated annual amortization expense, 2029	164		164
Estimated annual amortization expense, thereafter	$ 793		$ 793

Debt and Financing Activities -

Debt and Financing Activities - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 10, 2024	Mar. 31, 2024	Jun. 15, 2023
Debt Instrument [Line Items]
Total debt	$ 5,744		$ 5,629
Less: Current portion	53		50
Total long-term debt	$ 5,691		5,579
5.25% Notes due February 15, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		5.25%
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)	5.25%
Total debt	$ 499		499
Loans payable | 1.30% Notes due August 15, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	1.30%
Total debt	$ 0		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 | 4.25% Notes due September 15, 2029
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	4.25%	4.25%
Total debt	$ 500		0
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	$ 667		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	$ 557		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	$ 602		568
Lease and other obligations
Debt Instrument [Line Items]
Total debt	$ 261		$ 220

Debt and Financing Activities_2

Debt and Financing Activities - Long-Term Debt Narrative (Details) - USD ($) $ in Millions				6 Months Ended
	Sep. 10, 2024	Jun. 16, 2023	Jun. 15, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Debt Instrument [Line Items]
Long-term debt				$ 5,700		$ 5,600
Current portion of long-term debt				53		$ 50
Repayments of long-term debt				501	$ 271
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
4.25% Notes due September 15, 2029 | Term Loan
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	4.25%			4.25%
Debt principal amount	$ 500
Proceeds from debt issuance	$ 496
5.25% Notes due February 15, 2026
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)	5.25%
5.25% Notes due February 15, 2026 | Term Loan
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)				5.25%
Redemption price percentage of principal (percent)	100%
Repayments of long-term debt	$ 500
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 ($)	6 Months Ended
	Sep. 30, 2024	Sep. 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 ($)	6 Months Ended
	Sep. 30, 2024	Sep. 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	6,900,000,000	$ 2,000,000,000
Repayments of commercial paper	6,900,000,000	$ 2,000,000,000
Commercial paper	$ 0		$ 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	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 GBP (£)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 CAD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 GBP (£)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 USD ($)	Jun. 15, 2023 USD ($)	Mar. 31, 2023 USD ($)
Cross-currency swaps | Net Investment Hedges | CAD
Derivatives, Fair Value [Line Items]
Notional	$ 2,500				$ 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
Derivatives, Fair Value [Line Items]
Notional				$ 1,300							$ 1,300
Floating interest rate swaps | Fair Value Hedges | USD
Derivatives, Fair Value [Line Items]
Notional				$ 750					$ 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 | £		£ 27					£ 39

Hedging Activities - Narrative

Hedging Activities - Narrative (Details) $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Mar. 31, 2023 USD ($)

Oct. 31, 2024 CAD ($)

Sep. 30, 2024 CAD ($)

Sep. 30, 2024 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

$ 0

$ 0

Net Investment Hedging | CAD | Currency swap | Derivatives designated for hedge accounting

Derivative [Line Items]

Derivative, notional amount

$ 2,500

$ 2,500

$ 1,500

Derivative notional amount, terminated

$ 1,500

Net Investment Hedging | CAD | Currency swap | Derivatives designated for hedge accounting | Subsequent Event

Derivative [Line Items]

Derivative, notional amount

$ 1,000

Fair Value Hedges | Floating interest rate swaps | Derivatives designated for hedge accounting

Derivative [Line Items]

Derivative, notional amount

$ 1,300,000,000

$ 1,300,000,000

Derivative notional amount, terminated

$ 500,000,000

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

$ (14,000,000)

$ 33,000,000

$ (14,000,000)

$ 27,000,000

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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	$ 0	$ 0	$ 0	$ 0
Derivatives designated for hedge accounting | Cross-currency swaps | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivatives designated as net investment hedges:	(20,000,000)	27,000,000	(13,000,000)	7,000,000
Derivatives designated for hedge accounting | Cross-currency swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	(14,000,000)	33,000,000	(14,000,000)	27,000,000
Derivatives designated for hedge accounting | Foreign currency forwards | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow and other hedges:	2,000,000	0	2,000,000	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	$ 0	$ 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	Sep. 30, 2024	Mar. 31, 2024
Derivatives, Fair Value [Line Items]
Asset	$ 168	$ 121
Liability	36	36
Cross-currency swaps | Prepaid expenses and other/Other accrued liabilities
Derivatives, Fair Value [Line Items]
Asset	69	13
Liability	15	1
U.S. Dollar notional amount, asset	1,690	1,122
Cross-currency swaps | Other non-current assets/liabilities
Derivatives, Fair Value [Line Items]
Asset	97	108
Liability	11	0
U.S. Dollar notional amount, asset	1,771	1,638
Interest Rate Swap | Other non-current assets/liabilities
Derivatives, Fair Value [Line Items]
Asset	0	0
Liability	10	35
U.S. Dollar notional amount, asset	750	1,250
Foreign currency forwards | Prepaid expenses and other/Other accrued liabilities
Derivatives, Fair Value [Line Items]
Asset	2	0
Liability	0	0
U.S. Dollar, notional amount, liability	34	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	$ 0	$ 15

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 175		$ 175		$ 240
Gains (losses) associated with equity investments	(15)	$ 0	95	$ 0
Gain related to share price increase of equity securities			100
Proceeds from sale of equity securities			92
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	$ 549		$ 549		$ 705

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Long-Term Debt is Recorded at Amortized Cost (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	$ 5,744	$ 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	5,744	5,629
Fair Value	$ 5,808	$ 5,488

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Narrative (Details)				3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 27, 2022 USD ($)	Oct. 08, 2021 plaintiff	May 17, 2013 USD ($)	Sep. 30, 2024 USD ($) case state distributor settlement subdivision	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) case state distributor subdivision	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($) plaintiff	Jul. 31, 2020 state	Aug. 13, 2019 fax faxNumber
Loss Contingencies [Line Items]
Claims and litigation charges				$ (4,000,000)	$ (2,000,000)	$ 108,000,000	$ (2,000,000)
Number of plaintiffs | plaintiff		2
Proceeds from legal settlements				$ 63,000,000
Number of antitrust settlement | settlement				2
U.S. Pharmaceutical
Loss Contingencies [Line Items]
Proceeds from legal settlements				$ 63,000,000	$ 79,000,000	153,000,000	$ 197,000,000
National Prescription Opioid Litigation
Loss Contingencies [Line Items]
Claims and litigation charges						114,000,000		$ 149,000,000
National Prescription Opioid Litigation | Corporate Segment and U.S. Pharmaceutical Segment
Loss Contingencies [Line Items]
Claims and litigation charges						$ 57,000,000
National Prescription Opioid Litigation | U.S. Pharmaceutical
Loss Contingencies [Line Items]
Claims and litigation charges								(74,000,000)
National Prescription Opioid Litigation | Corporate
Loss Contingencies [Line Items]
Claims and litigation charges								$ (75,000,000)
National Prescription Opioid Litigation | United States
Loss Contingencies [Line Items]
Complaints filed against the entity | case				400		400
National Prescription Opioid Litigation | Canada
Loss Contingencies [Line Items]
Complaints filed against the entity | case				4		4
National Prescription Opioid Litigation | An individual | United States
Loss Contingencies [Line Items]
Complaints filed against the entity | case				1		1
National Prescription Opioid Litigation | An individual | Canada
Loss Contingencies [Line Items]
Complaints filed against the entity | case				1		1
National Prescription Opioid Litigation
Loss Contingencies [Line Items]
Number of other national distributors named in suit | distributor				2		2
Number of states in which court cases are pending | state				48		48
Loss contingency, number of cases dismissed | case				2,300		2,300
Portion of settlement award to be used by state and local government for remediation (percent)				85%		85%
Loss contingency, claims settled, number of jurisdictions not participating in settlement | subdivision				1		1
Number of plaintiffs | plaintiff								1
National Prescription Opioid Litigation | State of Alabama and Subdivisions
Loss Contingencies [Line Items]
Settlement payment						$ 75,000,000
Award payable under proposed framework						$ 99,000,000
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		0.85
National Prescription Opioid Litigation | Settling Governmental Entities and Cherokee Nation | Settled Litigation
Loss Contingencies [Line Items]
Settlement payment						$ 500,000,000
National Prescription Opioid Litigation | Three Largest U.S. Pharmaceutical Distributors
Loss Contingencies [Line Items]
Settlement payment						2,000,000,000
Award payable under proposed framework						5,900,000,000
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | State of West Virginia and Subdivisions
Loss Contingencies [Line Items]
Settlement payment						53,000,000
Award payable under proposed framework						99,000,000
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | Cherokee Nation
Loss Contingencies [Line Items]
Settlement payment						112,000,000
National Prescription Opioid Litigation | Three National Pharmaceutical Distributors | Native American Tribes Other Than Cherokee Nation
Loss Contingencies [Line Items]
Award payable under proposed framework						$ 84,000,000
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
True Health Chiropractic Inc., et al. v. McKesson Corporation, et al
Loss Contingencies [Line Items]
Loss contingency, class action, number of faxes remaining in the class | faxNumber										9,490
Loss contingency, class action, number of faxes received | fax										48,769
Amounts awarded to plaintiff	$ 6,500
True Health Chiropractic Inc., et al. v. McKesson Corporation, et al | Minimum
Loss Contingencies [Line Items]
Loss contingency, damages sought per violation, value			$ 500
True Health Chiropractic Inc., et al. v. McKesson Corporation, et al | Maximum
Loss Contingencies [Line Items]
Loss contingency, damages sought per violation, value			$ 1,500

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Estimated Accrual Liability (Details) - National Prescription Opioid Litigation - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Loss Contingencies [Line Items]
Current litigation liabilities	$ 775	$ 665
Long-term litigation liabilities	5,617	6,113
Total litigation liabilities	$ 6,392	$ 6,778

Stockholders' Deficit - Narrati

Stockholders' Deficit - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) vote $ / shares	Sep. 30, 2023 USD ($) $ / shares	Mar. 31, 2024 USD ($)	Jul. 31, 2024 USD ($)
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	$ 0.71	$ 0.62	$ 0.62		$ 1.33	$ 1.16
Other accrued liabilities	$ 4,787				$ 4,787		$ 4,915
Excise taxes					41		$ 25
Authorized repurchase amount (up to)								$ 4,000
Authorized amount available for future repurchases	$ 8,600				8,600
Open Market Share Repurchase Transactions
Accelerated Share Repurchases [Line Items]
Common stock repurchased (in shares) | shares	2.9	1	2	1.8
Shares repurchased	$ 1,500	$ 528	$ 840	$ 673
Average price of shares repurchased (in usd per share) | $ / shares	$ 533.46	$ 548.20	$ 422.39	$ 379.14
Other accrued liabilities	$ 22		$ 23		22	$ 23
Excise taxes	$ 15		$ 8		$ 16	$ 12

Stockholders' Deficit - Schedul

Stockholders' Deficit - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (1,381,000,000)	$ (1,240,000,000)	$ (1,599,000,000)	$ (1,490,000,000)
Other comprehensive income (loss) before reclassifications	24,000,000	(38,000,000)	(8,000,000)	19,000,000
Amounts reclassified to earnings and other	(1,000,000)	(1,000,000)	(1,000,000)	(1,000,000)
Other comprehensive income (loss), net of tax	23,000,000	(39,000,000)	(9,000,000)	18,000,000
Less: amounts attributable to noncontrolling interests	0	0	0	0
Other comprehensive income (loss) attributable to McKesson	23,000,000	(39,000,000)	(9,000,000)	18,000,000
Ending balance	(2,642,000,000)	(1,464,000,000)	(2,642,000,000)	(1,464,000,000)
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	0	0	0	0
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)	(20,000,000)	27,000,000	(13,000,000)	7,000,000
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	(14,000,000)	33,000,000	(14,000,000)	27,000,000
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	0	0	16,000,000
Derivatives designated for hedge accounting | Cash Flow Hedges | Foreign currency forwards
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), cash flows hedge, gain (loss) reclassification, before tax	2,000,000	0	2,000,000	0
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(913,000,000)	(848,000,000)	(881,000,000)	(905,000,000)
Ending balance	(890,000,000)	(887,000,000)	(890,000,000)	(887,000,000)
Foreign Currency Translation Adjustments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(892,000,000)	(780,000,000)	(856,000,000)	(847,000,000)
Other comprehensive income (loss) before reclassifications	49,000,000	(84,000,000)	13,000,000	(17,000,000)
Amounts reclassified to earnings and other	0	0	0	0
Other comprehensive income (loss), net of tax	49,000,000	(84,000,000)	13,000,000	(17,000,000)
Ending balance	(843,000,000)	(864,000,000)	(843,000,000)	(864,000,000)
Foreign Currency Translation Adjustments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Less: amounts attributable to noncontrolling interests	0	0	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	49,000,000	(84,000,000)	13,000,000	(17,000,000)
Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7,000,000)	(29,000,000)	(12,000,000)	(14,000,000)
Other comprehensive income (loss) before reclassifications	(15,000,000)	20,000,000	(10,000,000)	5,000,000
Amounts reclassified to earnings and other	0	0	0	0
Other comprehensive income (loss), net of tax	(15,000,000)	20,000,000	(10,000,000)	5,000,000
Ending balance	(22,000,000)	(9,000,000)	(22,000,000)	(9,000,000)
Other comprehensive income (loss) before reclassification, tax	(5,000,000)	7,000,000	(3,000,000)	(2,000,000)
Unrealized Gains (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	0	0
Unrealized Gains (Losses) on Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) attributable to McKesson	(15,000,000)	20,000,000	(10,000,000)	5,000,000
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	(29,000,000)	3,000,000	(36,000,000)
Other comprehensive income (loss) before reclassifications	(9,000,000)	25,000,000	(9,000,000)	32,000,000
Amounts reclassified to earnings and other	0	0	0	0
Other comprehensive income (loss), net of tax	(9,000,000)	25,000,000	(9,000,000)	32,000,000
Ending balance	(6,000,000)	(4,000,000)	(6,000,000)	(4,000,000)
Other comprehensive income (loss) before reclassification, tax	(3,000,000)	8,000,000	(3,000,000)	11,000,000
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	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	(9,000,000)	25,000,000	(9,000,000)	32,000,000
Unrealized Gains (Losses) and Other Components of Benefit Plans, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(17,000,000)	(10,000,000)	(16,000,000)	(8,000,000)
Other comprehensive income (loss) before reclassifications	(1,000,000)	1,000,000	(2,000,000)	(1,000,000)
Amounts reclassified to earnings and other	(1,000,000)	(1,000,000)	(1,000,000)	(1,000,000)
Other comprehensive income (loss), net of tax	(2,000,000)	0	(3,000,000)	(2,000,000)
Ending balance	(19,000,000)	(10,000,000)	(19,000,000)	(10,000,000)
Unrealized Gains (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	0	0
Unrealized Gains (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	$ (2,000,000)	$ 0	$ (3,000,000)	$ (2,000,000)

Segments of Business - Narrativ

Segments of Business - Narrative (Details)	6 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segments of Business - Reportab

Segments of Business - Reportable operating segment (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)
Segment revenues
Total revenues	$ 93,651	$ 77,215	$ 172,934	$ 151,698
Segment operating profit (loss)
Total operating profit (loss)	578	951	1,607	2,051
Subtotal	861	1,141	2,123	2,483
Corporate income (expenses), net	(249)	(164)	(352)	(368)
Interest expense	(78)	(61)	(153)	(108)
Income before income taxes	534	916	$ 1,618	2,007
Number of reportable segments | segment			4
Accounts receivable, credit loss expense (reversal)			$ (169)	243
Proceeds from legal settlements	63
Pre-tax credits related to LIFO accounting			(4)	87
Restructuring, impairment, and related charges, net	234	28	244	80
Income (loss) from equity method investments			(43)
Restructuring charges	149	10	148	12
Canadian businesses held for sale			638	0
Gains (losses) associated with equity investments	(15)	0	95	0
Canadian retail disposal group | Held-for-sale
Segment operating profit (loss)
Canadian businesses held for sale	643		643
Strategic Growth Initiative Plan - Operational Efficiencies and Cost Optimization
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	$ 227	3	227	39
Rx Savings Solutions, LLC
Segment operating profit (loss)
Fair value adjustment gain		48		76
United States
Segment operating profit (loss)
Number of reportable segments | segment	3
Corporate
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	$ 23	6	24	46
Restructuring charges	4	0	3	1
Gains (losses) associated with equity investments			95
Corporate | Canadian retail disposal group
Segment operating profit (loss)
Other comprehensive loss	50		50
Corporate | National Prescription Opioid Litigation
Segment operating profit (loss)
Pre-tax expenses related to estimated litigation liability			51
U.S. Pharmaceutical
Segment revenues
Total revenues	85,726	69,766	157,441	136,926
Segment operating profit (loss)
Total operating profit (loss)	1,075	593	1,856	1,420
Accounts receivable, credit loss expense (reversal)	203	210	203	210	$ 725
Proceeds from legal settlements	63	79	153	197
U.S. Pharmaceutical | Operating Segments
Segment operating profit (loss)
Pre-tax credits related to LIFO accounting	(2)	55	(4)	87
Restructuring, impairment, and related charges, net	64	9	65	11
Restructuring charges	1	8	1	9
U.S. Pharmaceutical | Operating Segments | Restructuring Initiatives QTD
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	64		64
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	1,265	1,140	2,506	2,384
Segment operating profit (loss)
Total operating profit (loss)	205	238	408	469
Prescription Technology Solutions | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	1	3	5	5
Restructuring charges	0	0	0	0
Medical-Surgical Solutions
Segment revenues
Total revenues	2,948	2,834	5,584	5,445
Segment operating profit (loss)
Total operating profit (loss)	89	244	277	471
Medical-Surgical Solutions | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	147	4	150	6
Restructuring charges	144	0	144	0
International
Segment revenues
Total revenues	3,709	3,475	7,400	6,943
Segment operating profit (loss)
Total operating profit (loss)	(508)	66	(418)	123
International | Canadian retail disposal group | Held-for-sale
Segment operating profit (loss)
Canadian businesses held for sale	593		593
International | Operating Segments
Segment operating profit (loss)
Restructuring, impairment, and related charges, net	(1)	6	0	12
Restructuring charges	0	2	0	2
Corporate
Segment revenues
Total revenues	$ 3	$ 0	$ 3	$ 0
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)	40%
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%