Earnings (Loss) Per Common Share

9 Months Ended

Dec. 31, 2020

Earnings (Loss) Per Common ShareBasic earnings (loss) per common share are computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. The computation of diluted earnings (loss) per common share is similar to that of basic earnings (loss) per common share, except that the former reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Diluted loss per common share for the three and nine months ended December 31, 2020, and nine months ended December 31, 2019 was calculated by excluding potentially dilutive securities from the denominator of the share computation due to their anti-dilutive effects.

The computations for basic and diluted earnings or loss per common share are as follows:


	Three Months Ended December 31,				Nine Months Ended December 31,
(In millions, except per share amounts)	2020		2019		2020		2019
Income (loss) from continuing operations	$	(6,174)	$	247	$	(5,052)	$	54
Net income attributable to noncontrolling interests	(52)		(56)		(152)		(163)
Income (loss) from continuing operations attributable to McKesson Corporation	(6,226)		191		(5,204)		(109)
Loss from discontinued operations, net of tax	—		(5)		(1)		(12)
Net income (loss) attributable to McKesson Corporation	$	(6,226)	$	186	$	(5,205)	$	(121)

Weighted-average common shares outstanding:
Basic	159.5		178.7		161.2		183.1
Effect of dilutive securities:
Restricted stock units	—		1.0		—		—
Diluted	159.5		179.7		161.2		183.1

Earnings (loss) per common share attributable to McKesson: (1)
Diluted
Continuing operations	$	(39.03)	$	1.06	$	(32.28)	$	(0.60)
Discontinued operations	—		(0.03)		(0.01)		(0.06)
Total	$	(39.03)	$	1.03	$	(32.29)	$	(0.66)
Basic
Continuing operations	$	(39.03)	$	1.06	$	(32.28)	$	(0.60)
Discontinued operations	—		(0.02)		(0.01)		(0.06)
Total	$	(39.03)	$	1.04	$	(32.29)	$	(0.66)

(1) Certain computations may reflect rounding adjustments.

Potentially dilutive securities include outstanding stock options, restricted stock units, and performance-based and other restricted stock units. Approximately 2 million of potentially dilutive securities for the three months ended December 31, 2019 were excluded from the computation of diluted net earnings per common share as they were anti-dilutive.