Earnings per Common Share

12 Months Ended

Mar. 31, 2021

Basic earnings (loss) per common share is computed by dividing net income (loss) 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 year ended March 31, 2021 was calculated by excluding potentially dilutive securities from the denominator of the share computation due to their anti-dilutive effects. Potentially dilutive securities include outstanding stock options, restricted stock units, and performance-based and other restricted stock units. Approximately 2 million and 3 million of potentially dilutive securities for 2020 and 2019, respectively, were excluded from the computations of diluted net earnings per common share, as they were anti-dilutive.

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


	Years Ended March 31,
(In millions, except per share amounts)	2021		2020		2019
Income (loss) from continuing operations	$	(4,339)	$	1,126	$	254
Net income attributable to noncontrolling interests	(199)		(220)		(221)
Income (loss) from continuing operations attributable to McKesson	(4,538)		906		33
Income (loss) from discontinued operations, net of tax	(1)		(6)		1
Net income (loss) attributable to McKesson	$	(4,539)	$	900	$	34

Weighted-average common shares outstanding:
Basic	160.6		180.6		196.3
Effect of dilutive securities:

Restricted stock units	—		1.0		1.0
Diluted	160.6		181.6		197.3

Earnings (loss) per common share attributable to McKesson: (1)
Diluted
Continuing operations	$	(28.26)	$	4.99	$	0.17
Discontinued operations	—		(0.04)		—
Total	$	(28.26)	$	4.95	$	0.17
Basic
Continuing operations	$	(28.26)	$	5.01	$	0.17
Discontinued operations	—		(0.03)		—
Total	$	(28.26)	$	4.98	$	0.17

(1)Certain computations may reflect rounding adjustments.