What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to inform investors that McKesson Corporation has posted historical financial data on its website based on "Adjusted Earnings" (a Non-GAAP measure). This is being done in anticipation of a change in the company's financial reporting starting in the first quarter of fiscal year 2012.

What does 'Adjusted Earnings (Non-GAAP)' mean?

Adjusted Earnings (Non-GAAP) refers to financial results that exclude certain items from the company's GAAP (Generally Accepted Accounting Principles) earnings. While the specific adjustments are detailed in Exhibit 99.1, it generally means McKesson will be presenting a performance metric that may differ from its standard reported earnings to highlight what it considers core operational performance.

Will this new reporting of 'Adjusted Earnings' affect how I analyze McKesson's past performance?

Yes, it may. Investors should review the "Presentation of Adjusted Earnings (Non-GAAP)" (Exhibit 99.1) to understand what adjustments are being made and why. This will help in comparing historical performance on a consistent basis and understanding the company's financial narrative going forward. It's important to analyze both GAAP and Non-GAAP figures.

Is the information in this 8-K considered 'filed' with the SEC?

No, the information in this 8-K filing, including Exhibit 99.1, is furnished to the SEC under Regulation FD. It is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934. This means it does not automatically become part of McKesson's official SEC filings unless the company specifically incorporates it by reference in a future filing.

MCK 8-K: Regulation FD

Summary

McKesson Corporation (MCK) filed an 8-K on May 5, 2011, primarily to disclose the posting of historical financial information on its website. This information is presented on a Non-GAAP basis, referred to as "Adjusted Earnings." This move is in preparation for a reporting change that will commence with the first quarter of fiscal year 2012. Investors should note that this information, while furnished to the SEC, is not considered "filed" under Section 18 of the Exchange Act, and will not be automatically incorporated into future SEC filings unless explicitly referenced. The key takeaway for investors is McKesson's proactive step in adjusting its financial reporting framework. The introduction of "Adjusted Earnings" suggests a potential shift in how the company will highlight its financial performance going forward. Investors should pay close attention to subsequent filings to understand the full implications of this reporting change and how "Adjusted Earnings" will be used to provide insights into the company's operational and financial health.

Key Highlights

1McKesson Corporation has posted historical financial information on its website using "Adjusted Earnings" (Non-GAAP).
2This disclosure is a preparatory step for a new reporting structure starting in Q1 FY2012.
3The information was made available on the company's investor relations section of its website.
4The 8-K filing includes Exhibit 99.1, which is the "Presentation of Adjusted Earnings (Non-GAAP)."
5This specific 8-K filing, including the attached exhibit, is furnished to the SEC and not deemed "filed" under Section 18 of the Exchange Act.
6Information furnished under Regulation FD is not automatically incorporated into other SEC filings unless specifically referenced.

MCKESSON CORP 8-K Report, Regulation FD Disclosure (May 5, 2011)

Summary

Key Highlights

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