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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Mar. 31, 2021
USD ($)
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
OPERATING ACTIVITIES      
Net income (loss) $ (4,340) $ 1,120 $ 255
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation 321 321 317
Amortization 566 601 632
Goodwill and other asset impairment charges 242 139 2,079
Equity earnings and charges from investment in Change Healthcare Joint Venture 0 1,084 194
Deferred taxes (908) (342) 189
Credits associated with last-in, first-out inventory method (38) (252) (210)
Non-cash operating lease expense 334 366  
(Gain) loss from sales of businesses and investments (9) 33 (86)
Other non-cash items 188 615 52
Changes in assets and liabilities, net of acquisitions:      
Receivables 1,145 (2,494) (967)
Inventories (2,276) (376) (368)
Drafts and accounts payable 1,267 3,952 1,976
Operating lease liabilities (362) (377)  
Taxes (166) (8) (95)
Litigation liabilities 8,067 0 0
Other 511 (8) 68
Net cash provided by operating activities 4,542 4,374 4,036
INVESTING ACTIVITIES      
Payments for property, plant, and equipment (451) (362) (426)
Capitalized software expenditures (190) (144) (131)
Acquisitions, net of cash, cash equivalents, and restricted cash acquired (35) (133) (905)
Proceeds from sales of businesses and investments, net 400 37 101
Other (139) 23 (20)
Net cash used in investing activities (415) (579) (1,381)
FINANCING ACTIVITIES      
Proceeds from short-term borrowings 6,323 21,437 37,265
Repayments of short-term borrowings (6,323) (21,437) (37,268)
Proceeds from issuances of long-term debt 500 0 1,099
Repayments of long-term debt (1,040) (298) (1,112)
Common stock transactions:      
Issuances 92 113 75
Share repurchases, including shares surrendered for tax withholding (770) (1,954) (1,639)
Dividends paid (276) (294) (292)
Other (199) (301) (355)
Net cash used in financing activities (1,693) (2,734) (2,227)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (61) (19) (119)
Net increase in cash, cash equivalents, and restricted cash 2,373 1,042 309
Cash, cash equivalents, and restricted cash at beginning of year 4,023 2,981 2,672
Cash, cash equivalents, and restricted cash at end of year 6,396 4,023 2,981
Less: Restricted cash at end of period included in Other Noncurrent Assets      
Less: Restricted cash at end of year included in Prepaid expenses and other (118) (8) 0
Cash and cash equivalents at end of year 6,278 4,015 2,981
SUPPLEMENTAL CASH FLOW INFORMATION      
Interest, net 220 235 383
Income taxes, net of refunds $ 379 $ 368 $ 262