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Stockholders' Equity (Tables)
 12 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of shares repurchased over last three years
Information regarding the share repurchase activity over the last three years is as follows:
 
Share Repurchases (1)
(In millions, except price per share data)
 
Total
Number of
Shares
       Purchased (2) (3)
 
Average Price
Paid Per Share
 
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the
Programs
Balance, March 31, 2017
 
 
 
 
 
$
2,746

Shares repurchased
 
10.5

 
$
151.06

 
(1,650
)
Balance, March 31, 2018
 
 
 
 
 
1,096

Shares repurchase plans authorized
 
 
 
 
 
 
May 2018
 
 
 
 
 
4,000

Shares repurchased
 
13.5

 
$
130.72

 
(1,627
)
Balance, March 31, 2019
 
 
 
 
 
3,469

Shares repurchased
 
13.9

 
$
138.94

 
(1,934
)
Balance, March 31, 2020
 
 
 
 
 
$
1,535


(1)
This table does not include shares tendered to satisfy the exercise price in connection with cashless exercises of employee stock options or shares tendered to satisfy tax withholding obligations in connection with employee equity awards. It also excludes shares related to the Company’s Split-off of the Change Healthcare JV as described below.
(2)
All of the shares purchased were part of the publicly announced programs.
(3)
The number of shares purchased reflects rounding adjustments.
Schedule of comprehensive income (loss)
Information regarding other comprehensive income (loss) including noncontrolling interests and redeemable noncontrolling interests, net of tax, by component is as follows:
 
Years Ended March 31,
 (In millions)
2020
 
2019
 
2018
Foreign currency translation adjustments:(1)
 
 
 
 
 
Foreign currency translation adjustments arising during period, net of income tax expense of nil, nil and nil (2) (3)
$
(151
)
 
$
(431
)
 
$
804

Reclassified to income statement, net of income tax expense of nil, nil and nil
—

 
—

 
—

 
(151
)
 
(431
)
 
804

Unrealized gains (losses) on net investment hedges (4)
 
 
 
 
 
Unrealized gains (losses) on net investment hedges arising during period, net of income tax (expense) benefit of ($30), ($71), and $95
85

 
241

 
(180
)
Reclassified to income statement, net of income tax expense of nil, nil and nil
—

 
—

 
—

 
85

 
241

 
(180
)
Unrealized gains (losses) on cash flow hedges:
 
 
 
 
 
Unrealized gains (losses) on cash flow hedges arising during period, net of income tax (expense) benefit of ($12), ($4), and $9
86

 
24

 
(30
)
Reclassified to income statement, net of income tax expense of nil, nil and nil
—

 
—

 
—

 
86

 
24

 
(30
)
Changes in retirement-related benefit plans:
 
 
 
 
 
Net actuarial gain (loss) and prior service credit (cost) arising during the period, net of income tax (expense) benefit of ($8), $5, and ($2) (5)
27

 
(51
)
 
25

Amortization of actuarial loss, prior service cost and transition obligation, net of income tax (expense) benefit of $1, nil, and ($2) (6)
2

 
9

 
5

Foreign currency translation adjustments and other, net of income tax expense of nil, nil and nil
6

 
10

 
(15
)
Reclassified to income statement, net of income tax expense of ($33), nil and
nil (7)
94

 
—

 
—

 
129

 
(32
)
 
15

 

 

 

Other Comprehensive Income (Loss), net of tax
$
149

 
$
(198
)
 
$
609


(1)
Foreign currency translation adjustments primarily result from the conversion of non-U.S. dollar financial statements of the Company’s foreign subsidiary McKesson Europe into the Company’s reporting currency, U.S. dollars.
(2)
The 2020 net foreign currency translation losses of $151 million were primarily due to the weakening of the Euro and Canadian dollar against the U.S. dollar, partially offset by the strengthening of the British pound sterling from April 1, 2019 to March 31, 2020. The 2019 net foreign currency translation losses of $431 million were primarily due to the weakening of the Euro, British pound sterling and Canadian dollar against the U.S. dollar from April 1, 2018 to March 31, 2019. The 2018 net foreign currency translation gains of $804 million were primarily due to the strengthening of the Euro, British pound sterling and Canadian dollar against the U.S. dollar from April 1, 2017 to March 31, 2018.
(3)
2020 and 2018 include net foreign currency translation gains of $1 million and $189 million and 2019 includes net foreign currency translation losses of $61 million attributable to noncontrolling and redeemable noncontrolling interests.
(4)
2020, 2019 and 2018 include foreign currency gains of $39 million and $259 million and losses of $268 million on the net investment hedges from the Euro and British pound sterling-denominated notes. 2020, 2019 and 2018 also include foreign currency gains of $76 million and $53 million and losses of $7 million on the net investment hedges from the cross-currency swaps.
(5)
The 2020 net actuarial gain of $2 million and 2019 and 2018 net actuarial losses of $5 million and $4 million were attributable to noncontrolling and redeemable noncontrolling interests.
(6)
Pre-tax amount was reclassified into cost of sales and operating expenses in the consolidated statements of operations. The related tax expense was reclassified into income tax expense in the consolidated statements of operations.
(7)
Primarily reflects a reclassification of losses in 2020 upon the termination of the Plan from accumulated other comprehensive loss to other income (expense), net in the Company’s consolidated statement of operations.
Schedule of accumulated other comprehensive income (loss)
Information regarding changes in the Company’s accumulated other comprehensive income (loss) by component are as follows:
 
Foreign Currency Translation Adjustments
 
 
 
 
 
 
(In millions)
Foreign Currency Translation Adjustments, Net of Tax
 
Unrealized Gains (Losses) on Net Investment Hedges,
Net of Tax
 
Unrealized Gains (Losses) on Cash Flow Hedges,
Net of Tax
 
Unrealized Net Gains (Losses) and Other Components of Benefit Plans, Net of Tax
 
Total Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2018
$
(1,258
)
 
$
(188
)
 
$
(61
)
 
$
(210
)
 
$
(1,717
)
Other comprehensive income (loss) before reclassifications
(431
)
 
241

 
24

 
(41
)
 
(207
)
Amounts reclassified to earnings and
other
—

 
—

 
—

 
9

 
9

Other comprehensive income (loss)
(431
)
 
241

 
24

 
(32
)
 
(198
)
Less: amounts attributable to noncontrolling and redeemable noncontrolling interests
(61
)
 
—

 
—

 
(5
)
 
(66
)
Other comprehensive income (loss) attributable to McKesson
(370
)
 
241

 
24

 
(27
)
 
(132
)
Balance at March 31, 2019
(1,628
)
 
53

 
(37
)
 
(237
)
 
(1,849
)
Other comprehensive income (loss) before reclassifications
(151
)
 
85

 
86

 
33

 
53

Amounts reclassified to earnings and other
—

 
—

 
—

 
96

 
96

Other comprehensive income (loss)
(151
)
 
85

 
86

 
129

 
149

Less: amounts attributable to noncontrolling and redeemable noncontrolling interests
1

 
—

 
—

 
2

 
3

Other comprehensive income (loss) attributable to McKesson
(152
)
 
85

 
86

 
127

 
146

Balance at March 31, 2020
$
(1,780
)
 
$
138

 
$
49

 
$
(110
)
 
$
(1,703
)