MCKESSON CORP | 2013 | FY | 3


Quarterly Financial Information (Unaudited)
The quarters results of operations are not necessarily indicative of the results that may be expected for the entire year. Selected quarterly financial information for the last two years is as follows:
(In millions, except per share amounts)
First
Quarter
 
Second Quarter
 
Third
Quarter
 
Fourth
Quarter
Fiscal 2013
 
 
 
 
 
 
 
Revenues
$
30,798

 
$
29,850

 
$
31,187

 
$
30,620

Gross profit
1,600

 
1,720

 
1,668

 
1,996

Net income (1) (2) (3) (4) (5)
380

 
401

 
298

 
259

Earnings per common share (1) (2) (3) (4) (5) (8)
 
 
 
 
 
 
 
Diluted
$
1.58

 
$
1.67

 
$
1.24

 
$
1.10

Basic
1.61

 
1.70

 
1.27

 
1.12

 
 
 
 
 
 
 
 
Fiscal 2012
 
 
 
 
 
 
 
Revenues
$
29,980

 
$
30,216

 
$
30,839

 
$
31,699

Gross profit
1,509

 
1,647

 
1,566

 
1,845

Net income (6) (7)
286

 
296

 
300

 
521

Earnings per common share (6) (7) (8)
 
 
 
 
 
 
 
Diluted
$
1.13

 
$
1.18

 
$
1.20

 
$
2.09

Basic
1.15

 
1.20

 
1.22

 
2.14

(1)
Financial results for the first, second and fourth quarters of 2013 include AWP litigation charges of $16 million pre-tax ($10 million after-tax), $44 million pre-tax ($27 million after-tax) and $12 million pre-tax ($8 million after-tax), which were recorded in operating expenses.
(2)
Financial results for the first quarter of 2013 include an $81 million pre-tax ($51 million after-tax) gain on business combination, which was recorded as a reduction to operating expenses.
(3)
Financial results for the second, third and fourth quarters of 2013 include the pre-tax receipts of $19 million, $8 million and $17 million representing our share of settlements of antitrust class action lawsuits brought against drug manufacturers, which were recorded as a reduction to cost of sales.
(4)
Financial results for the third quarter of 2013 include a $40 million pre-tax ($29 million after-tax) charge for a legal dispute in our Canadian business which was recorded in operating expenses.
(5)
Financial results for the fourth quarter of 2013 include the following pre-tax impairment charges: an equity investment of $191 million, goodwill of $36 million, and capitalized software held for sale of $10 million.
(6)
Financial results for the second, third and fourth quarters of 2012 include AWP litigation charges of $118 million pre-tax ($77 million after-tax), $27 million pre-tax ($15 million after-tax) and $4 million pre-tax (benefit of $32 million after-tax), which were recorded in operating expenses.
(7)
Financial results for the third and fourth quarters of 2012 include product alignment pre-tax charges of $42 million and $9 million.
(8)
Certain computations may reflect rounding adjustments.

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