Business Combinations

3 Months Ended

Jun. 30, 2011

Business Combinations [Abstract]

Business Combinations

2. Business Combinations

     On December 30, 2010, we acquired all of the outstanding shares of US Oncology Holdings, Inc. (“US Oncology”) for approximately $2.1 billion, consisting of cash consideration of $0.2 billion, net of cash acquired, and the assumption of liabilities with a fair value of $1.9 billion. As an integrated oncology company, US Oncology is affiliated with community-based oncologists, and works with patients, hospitals, payers and the medical industry across all phases of the cancer research and delivery continuum. The acquisition of US Oncology expands our existing specialty pharmaceutical distribution business and adds practice management services for oncologists. The cash paid at acquisition was funded from cash on hand.

     The following table summarizes the preliminary recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date:

	Amounts
	Recognized as
	of Acquisition
	Date
(In millions)	(Provisional)(1)
Current assets, net of cash acquired	$	662
Goodwill		808
Intangible assets		1,007
Other long-term assets		354
Current liabilities		(489	)
Current portion of long-term debt		(1,735	)
Other long-term liabilities		(338	)
Other stockholders’ equity		(25	)
Net assets acquired, less cash and cash equivalents	$	244

(1) As previously reported in our Form 10-K for the year ended March 31, 2011.

     During the first quarter of 2012, there were no adjustments to the preliminary fair values recorded for the assets acquired and liabilities assumed of US Oncology as of the acquisition date. These amounts are subject to change within the measurement period as our fair value assessments are finalized. We expect to finalize our fair value assessments by the third quarter of 2012. Financial results for US Oncology have been included in the results of operations within our Distribution Solutions segment beginning in the fourth quarter of 2011.

     During the last two years, we also completed a number of other smaller acquisitions within both of our operating segments. Financial results for our business acquisitions have been included in our consolidated financial statements since their respective acquisition dates. Purchase prices for our business acquisitions have been allocated based on estimated fair values at the date of acquisition.

     Goodwill recognized for our business acquisitions is generally not expected to be deductible for tax purposes. Pro forma results of operations for our business acquisitions have not been presented because the effects were not material to the consolidated financial statements on either an individual or an aggregate basis.