Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name McKESSON CORPORATION
CIK 0000927653
Accession number 0001445305-14-002132
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/927653/000144530514002132/mck-20140331.xml
Fiscal year end --03-31
Fiscal year focus 2014
Fiscal period focus FY
Current balance sheet date 2014-03-31
Current year-to-date income statement start date 2013-04-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
 
March 31,
(In millions)
2014
 
2013
Assets
 
 
 
Receivable allowances
$
106

 
$
84

Deferred revenue
136

 
106

Compensation and benefit related accruals
641

 
553

Net operating loss and credit carryforwards
430

 
341

Other
289

 
281

Subtotal
1,602

 
1,365

Less: valuation allowance
(270
)
 
(118
)
Total assets
1,332

 
1,247

Liabilities
 
 
 
Inventory valuation and other assets
(2,163
)
 
(2,089
)
Fixed assets and systems development costs
(321
)
 
(267
)
Intangibles
(1,531
)
 
(734
)
Other
(118
)
 
(24
)
Total liabilities
(4,133
)
 
(3,114
)
Net deferred tax liability
$
(2,801
)
 
$
(1,867
)
 
 
 
 
Current net deferred tax asset
$
51

 
$
16

Current net deferred tax liability
(1,588
)
 
(1,626
)
Long-term deferred tax asset
19

 
21

Long-term deferred tax liability
(1,283
)
 
(278
)
Net deferred tax liability
$
(2,801
)
 
$
(1,867
)

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 1,602,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -270,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 1,332,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities 4,133,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 5,465,000,000
CHECK 0

*

(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current -1,588,000,000 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -1,283,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 5,465,000,000
CHECK 0

*

(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 1,332,000,000
Deferred tax liabilities, net 4,133,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 5,465,000,000
CHECK 0

*

*

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