Equity Investments

12 Months Ended

Mar. 31, 2015

Equity Method Investment and Joint Venture Disclosure [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Equity Investments

We own a 45% interest in Brocacef Holding N.V. (“Brocacef”), which provides, through its subsidiaries, wholesale distribution services and supplies pharmaceutical and other healthcare products to pharmacies, retailers and hospitals in the Netherlands. During the third quarter of 2015, we announced that Brocacef intends to purchase Mediq Apotheken Beheer B.V., which owns and operates pharmacies in the Netherlands. This acquisition is subject to customary closing conditions including regulatory clearances and approval of the relevant competition authorities but is expected to close during the first half of 2016.

During 2013, we committed to a plan to sell our 49% equity interest in Nadro, S.A. de C.V. (“Nadro”) and in the fourth quarter of 2013 we recorded a pre-tax impairment charge of $191 million reducing the investment’s carrying value to its estimated fair value. Cumulative foreign currency translation losses of $69 million were included in the assessment of the investment’s carrying value for purposes of calculating the impairment charge. The impairment charge was recorded in impairment of an equity investment in the consolidated statements of operations within our Distribution Solutions segment.

In September 2013, we completed the sale of our 49% equity interest in Nadro. Under the terms of the agreement, we received $41 million in total cash consideration. There was no material gain or loss on the disposition based on the adjusted fair value of the investment at the time of the sale. Prior to the sale, our investment in Nadro was accounted for under the equity method of accounting within our Distribution Solutions segment.