For the year ending 2026-03-31, MCK had -$1,888M decrease in cash & cash equivalents over the period. $5,719M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Net income | 5,099 | 3,481 | 3,160 | 3,722 |
| Depreciation | 256 | 242 | 253 | 248 |
| Amortization | 473 | 394 | 382 | 360 |
| Long-lived asset impairment charges | 55 | 98 | 43 | 72 |
| Deferred taxes | -230 | 110 | 603 | 20 |
| Charges (credits) associated with last-in, first-out inventory method | -210 | 82 | -157 | 1 |
| Non-cash operating lease expense | 261 | 245 | 228 | 249 |
| Loss (gain) from sales of businesses and investments | 573 | -485 | 17 | 211 |
| Provision for bad debts | 100 | -130 | 819 | - |
| European businesses held for sale | - | - | 0 | 0 |
| Other non-cash items | -302 | -424 | -233 | -298 |
| Receivables | 1,999 | 3,935 | 2,954 | 1,082 |
| Inventories | 1,082 | 2,270 | 1,294 | 1,259 |
| Drafts and accounts payable | 4,317 | 8,301 | 4,587 | 3,788 |
| Operating lease liabilities | -270 | -404 | -339 | -338 |
| Taxes | -339 | -136 | 331 | 363 |
| Litigation liabilities | -684 | -401 | -395 | -1,088 |
| Other | -219 | 281 | -37 | -56 |
| Net cash provided by operating activities | 6,155 | 6,085 | 4,314 | 5,159 |
| Payments for property, plant, and equipment | 436 | 537 | 431 | 390 |
| Capitalized software expenditures | 309 | 322 | 256 | 168 |
| Acquisitions, net of cash, cash equivalents, and restricted cash acquired | 3,416 | 24 | 272 | 867 |
| Proceeds from sales of businesses and investments, net | 830 | 179 | 47 | 1,077 |
| Other | 101 | 29 | 160 | 194 |
| Net cash used in investing activities | -3,432 | -733 | -1,072 | -542 |
| Proceeds from short-term borrowings | 9,247 | 15,086 | 19,964 | 8,450 |
| Repayments of short-term borrowings | 9,247 | 15,086 | 19,964 | 8,450 |
| Proceeds from issuances of long-term debt | 1,990 | 498 | 991 | 997 |
| Repayments of long-term debt | 1,207 | 519 | 288 | 1,274 |
| Purchase of u.s. government obligations for the satisfaction and discharge of long-term debt | 0 | 0 | 647 | - |
| Payments for debt extinguishments | - | - | 0 | 0 |
| Issuances | 89 | 101 | 116 | 163 |
| Share repurchases | 4,750 | 3,146 | 3,025 | 3,638 |
| Dividends paid | 381 | 345 | 314 | 292 |
| Exercise of put right by noncontrolling shareholders of mckesson europe ag | - | - | 0 | 0 |
| Other | -372 | -554 | -175 | -324 |
| Net cash used in financing activities | -4,631 | -3,965 | -3,342 | -4,368 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 20 | -16 | 6 | 25 |
| Cash, cash equivalents, and restricted cash classified as assets held for sale | - | 0 | 0 | 470 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | -1,888 | 1,371 | -94 | 744 |
| Cash, cash equivalents, and restricted cash at beginning of year | 5,956 | 4,585 | 4,679 | 3,935 |
| Cash, cash equivalents, and restricted cash at end of year | 4,068 | 5,956 | 4,585 | 4,679 |
MCKESSON CORP (MCK)
MCKESSON CORP (MCK)