Name: McKesson Corp. (NYSE:MCK) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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McKesson Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Mar 31, 2016	Mar 31, 2015	Mar 31, 2014	Mar 31, 2013	Mar 31, 2012	Mar 31, 2011
Net income	2,310)	1,543)	1,258)	1,338)	1,403)	1,202)
Foreign currency translation adjustments arising during the period	113)	(1,855)	53)	(52)	(56)	76)
Unrealized gains (losses) on cash flow hedges arising during the period	9)	(10)	(6)	—)	(5)	—)
Retirement-related benefit plans	50)	(124)	36)	(18)	(21)	5)
Other comprehensive income (loss), net of tax	172)	(1,989)	83)	(70)	(82)	81)
Comprehensive income (loss)	2,482)	(446)	1,341)	1,268)	1,321)	1,283)
Comprehensive (income) loss attributable to noncontrolling interests	(72)	212)	(16)	—)	—)	—)
Comprehensive income (loss) attributable to McKesson Corporation	2,410)	(234)	1,325)	1,268)	1,321)	1,283)

Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).

Net income demonstrated a general upward trajectory over the six-year period, starting at 1,202 million US dollars in 2011 and culminating in a significant increase to 2,310 million US dollars by March 31, 2016. While profitability remained relatively stable between 2011 and 2015, with fluctuations between 1,258 million and 1,543 million US dollars, the 2016 fiscal year marked a substantial acceleration in bottom-line performance.

Analysis of Other Comprehensive Income (OCI): Other comprehensive income exhibited extreme volatility, primarily driven by foreign currency translation adjustments. While these adjustments remained within a range of 53 million to -56 million US dollars between 2011 and 2014, a significant negative deviation occurred in 2015, reaching -1,855 million US dollars. This volatility extended to retirement-related benefit plans, which also saw a notable decrease to -124 million US dollars in 2015. By 2016, OCI recovered to a positive 172 million US dollars.
Comprehensive Income Divergence: A critical divergence between net income and comprehensive income is observed in 2015. Despite reporting a net income of 1,543 million US dollars, the corporation recorded a comprehensive loss of 446 million US dollars. This discrepancy was entirely attributable to the negative swings in other comprehensive income, specifically the foreign currency translation losses. This indicates that non-operational, market-driven factors had a temporary but severe impact on the total comprehensive wealth of the organization during that period.
Attributable Comprehensive Income Trends: The comprehensive income attributable to McKesson Corporation closely mirrored the overall comprehensive income trend, remaining stable around 1,300 million US dollars from 2011 to 2014. Following the 2015 contraction to -234 million US dollars, there was a robust recovery in 2016, with attributable comprehensive income rising to 2,410 million US dollars, aligning with the strong net income growth observed in the same period.

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