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McKesson Corp. (NYSE:MCK)

This company has been moved to the archive! The financial data has not been updated since October 27, 2016.

Common-Size Balance Sheet: Assets
Quarterly Data

McKesson Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011 Sep 30, 2011 Jun 30, 2011 Mar 31, 2011 Dec 31, 2010 Sep 30, 2010 Jun 30, 2010
Cash and cash equivalents 9.37 8.05 7.16 6.18 9.60 10.08 9.91 8.32 7.28 7.74 8.10 6.66 8.23 8.19 7.06 8.15 8.59 6.34 9.52 12.64 12.36 10.05 11.69 10.57 11.38 11.92
Receivables, net 31.40 31.66 31.79 31.59 30.09 29.83 29.54 30.09 29.47 28.15 27.42 29.47 28.71 28.21 28.68 29.80 29.80 30.12 30.15 29.17 29.85 30.22 29.74 28.45 30.51 28.58
Inventories, net 26.19 26.77 27.11 29.79 27.92 26.70 26.54 27.90 26.92 26.65 25.71 31.42 29.17 29.11 29.71 31.08 30.54 31.68 30.44 31.29 29.54 30.73 29.87 31.41 32.71 34.41
Prepaid expenses and other 0.90 0.94 1.90 1.89 1.80 2.36 2.08 1.08 1.19 1.55 1.70 1.62 2.17 2.30 1.16 1.08 1.11 1.32 1.22 0.99 1.15 1.15 1.08 0.94 0.96 0.97
Current assets held for sale 3.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current assets 70.89% 67.42% 67.95% 69.46% 69.42% 68.97% 68.07% 67.39% 64.86% 64.09% 62.93% 69.17% 68.28% 67.81% 66.61% 70.11% 70.04% 69.47% 71.32% 74.10% 72.91% 72.13% 72.39% 71.37% 75.56% 75.88%
Property, plant and equipment, net 3.94 4.20 4.03 3.83 3.78 3.76 3.80 3.91 4.16 4.17 4.29 3.73 3.75 3.76 3.80 3.73 3.71 3.85 3.15 3.06 3.15 3.19 3.21 3.07 3.21 3.15
Capitalized software held for sale, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.49 0.49 0.50 0.58 0.83
Goodwill 16.62 19.22 17.30 17.61 17.58 17.79 18.22 18.07 19.33 19.68 19.18 17.27 17.59 17.64 18.41 15.88 15.55 15.83 15.21 13.56 14.06 14.31 14.13 14.22 13.17 12.85
Intangible assets, net 5.25 5.43 5.34 5.63 5.83 6.13 6.39 7.01 7.85 8.28 9.70 5.66 5.98 6.19 6.53 5.38 5.15 5.29 5.29 4.04 4.33 4.56 4.71 5.25 1.94 1.91
Other noncurrent assets 3.30 3.74 5.38 3.47 3.40 3.36 3.52 3.62 3.80 3.78 3.89 4.17 4.40 4.60 4.66 4.90 5.54 5.58 5.03 5.23 5.54 5.32 5.07 5.59 5.54 5.37
Noncurrent assets 29.11% 32.58% 32.05% 30.54% 30.58% 31.03% 31.93% 32.61% 35.14% 35.91% 37.07% 30.83% 31.72% 32.19% 33.39% 29.89% 29.96% 30.53% 28.68% 25.90% 27.09% 27.87% 27.61% 28.63% 24.44% 24.12%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The asset structure exhibits a transition from a heavily current-asset-weighted profile toward a more balanced distribution with an increased proportion of noncurrent assets. Current assets, which represented 75.88% of total assets in June 2010, generally trended downward to 70.89% by September 2016, reflecting a shift in the composition of the balance sheet.

Working Capital and Liquidity Trends
Cash and cash equivalents demonstrated notable volatility throughout the period, starting at 11.92% and reaching a low of 6.18% in December 2015 before recovering to 9.37% by September 2016. Receivables remained relatively stable, consistently fluctuating within a narrow band between 27% and 32%. A significant downward trend is observed in inventories, which declined from 34.41% of total assets in June 2010 to 26.19% in September 2016, indicating a reduction in the relative weight of inventory within the asset mix.
Noncurrent Asset Expansion and Inorganic Growth
Noncurrent assets increased from 24.12% in June 2010 to 29.11% in September 2016, peaking at 37.07% in March 2014. This increase was primarily driven by growth in Goodwill and Intangible assets. Goodwill rose from 12.85% to a peak of 19.68% in June 2014, and Intangible assets grew from 1.91% to a peak of 9.70% in March 2014. The synchronization of these peaks suggests a period of aggressive inorganic growth via acquisitions between 2012 and 2014.
Fixed Assets and Other Noncurrent Items
Property, plant, and equipment remained a small and stable portion of the total asset base, moving slightly from 3.15% to 3.94% over the analyzed timeframe. Other noncurrent assets showed a gradual decrease from 5.37% to 3.30%. Notably, the appearance of current assets held for sale at 3.03% in September 2016 indicates the commencement of divestiture activities toward the end of the observed period.

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