Attached files
| file | filename |
|---|---|
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - MCKESSON CORP | mck_exhibit311x3312017.htm |
| EX-32 - CERTIFICATION PURSUANT TO 18 U.S.C.SECTION 1350 - MCKESSON CORP | mck_exhibit32x3312017.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - MCKESSON CORP | mck_exhibit312x3312017.htm |
| EX-24 - POWER OF ATTORNEY - MCKESSON CORP | mck_exhibit24x3312017.htm |
| EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MCKESSON CORP | mck_exhbit23x3312017.htm |
| EX-21 - LIST OF SUBSIDIARIES OF THE REGISTRANT - MCKESSON CORP | mck_exhibit21x3312017.htm |
| 10-K - 10-K - MCKESSON CORP | mck_10kx3312017.htm |
Exhibit 12
McKESSON CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended March 31, | |||||||||||||||||||
(Dollars in millions) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income taxes (d) | $ | 6,891 | $ | 3,250 | $ | 2,657 | $ | 2,171 | $ | 1,950 | |||||||||
Adjustment for equity in net income of and dividends from equity investees | 1 | (1 | ) | (1 | ) | 2 | (1 | ) | |||||||||||
Fixed charges - below | 468 | 498 | 520 | 400 | 316 | ||||||||||||||
Amortization of capitalized interest | 1 | 1 | 1 | 2 | 2 | ||||||||||||||
Less: Capitalized interest | (2 | ) | (1 | ) | — | — | (1 | ) | |||||||||||
Earnings as adjusted | $ | 7,359 | $ | 3,747 | $ | 3,177 | $ | 2,575 | $ | 2,266 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense (a) (b) | $ | 308 | $ | 353 | $ | 374 | $ | 300 | $ | 240 | |||||||||
Capitalized interest | 2 | 1 | — | — | 1 | ||||||||||||||
Portion of rental expense representative of the interest factor (c) | 158 | 144 | 146 | 100 | 75 | ||||||||||||||
Total fixed charges | $ | 468 | $ | 498 | $ | 520 | $ | 400 | $ | 316 | |||||||||
Ratio: | |||||||||||||||||||
Ratio of earnings to fixed charges | 15.7 | 7.5 | 6.1 | 6.4 | 7.2 | ||||||||||||||
(a) | Interest expense includes amortization of debt discounts and deferred loan costs. |
(b) | Interest expense on uncertain tax liabilities is excluded from interest expense as the company records these amounts within income tax expense. |
(c) | One-third of net rent expense is the portion of rental expense deemed representative of the interest factor. |
(d) | 2017 includes a pre-tax gain of $3,947 million from the deconsolidation of the majority of our Technology Solutions businesses. |