Finally, please note that on today's call, we will refer to certain non-GAAP financial measures, in which we exclude from our GAAP financial results acquisition-related expenses, amortization of acquisition-related intangible assets and certain litigation reserve adjustments. We believe these non-GAAP measures will provide useful information for investors. Please refer to our press release announcing fourth quarter fiscal 2012 results available on our website for a reconciliation of the non-GAAP performance measures to the GAAP financial results. Thanks, and here is John Hammergren.John H. Hammergren Think, Erin, and thanks, everyone, for joining us on our call. I'm really pleased to report the results from our last quarter of fiscal 2012, which wrapped up another strong full year of financial performance. Our full year adjusted earnings per diluted share was $6.38, up 20% from the prior year. Fourth quarter revenues were up 10% to $31.7 billion and fourth quarter adjusted earnings per diluted share was up 17% to $2.09. We also had great performance in cash flow from operations, which came in at $2.9 billion for the year. This outstanding result is a tribute to our ability to efficiently manage working capital in a growing business. As a result of our cash flow performance and the overall strength of our balance sheet, in the fourth quarter we executed a $1.2 billion accelerated share repurchase program, bringing our total share repurchases for the year to $1.9 billion. Also in the fourth quarter, we completed our acquisition of the independent banner and franchise business of Katz Group Canada for $919 million. After completing the Katz acquisition and executing the accelerated share repurchase program, we still ended fiscal 2012 with over $3 billion in cash on our balance sheet, leaving strong flexibility to deploy capital using our portfolio approach going forward. Turning to the broader industry environment. Health care topics remain a focus in this election year. We continue to believe the issues of quality, access and cost will remain at the center of all health care discussions. McKesson remains actively engaged in public policy conversations at the Federal and state level, addressing a number of issues that are important to our customers and, certainly, to our industry.
The issues our customers face remain the same regardless of the outcome of the ongoing political and legal discussions on health reform. Health care providers, manufacturers and payers are looking for broad solutions to drive improved financial, clinical and operational performance. With the most comprehensive set of tools, services and resources in our industry, McKesson is well-positioned to support our customers as the industry continues to transform.Before I turn to the fourth quarter and full year results for Distribution Solutions, let me take a moment to walk you through a legal matter, which in the past has impacted our GAAP results in the Distribution Solutions segment. In our fiscal third quarter earnings call, Jeff indicated that we had reached an agreement in principle with the Department of Justice to resolve federal Medicaid claims related to AWP. I'm pleased to tell you that in April, we finalized this settlement, in line with our existing reserves. As you know, McKesson had previously settled all private payer AWP claims during the third quarter of fiscal 2009. While there are still outstanding cases by public entities, which we plan to vigorously defend, this settlement with the Department of Justice represents another important step in bringing resolution to the claims related to AWP. Now moving on to some business results for our fourth quarter and full year. Strong execution in Distribution Solutions drove overall operating results for the company. We continue to grow and expand our value to our customers through our core capabilities of operational excellence, unmatched service levels, the global scale of our sourcing and the use of technology to help our customers succeed. U.S. Pharmaceutical continues to turn in outstanding results. Customers in all channels, from the small independent pharmacy to the large retail customer, recognize the value McKesson brings. As a result, we have succeeded along with our customers. Read the rest of this transcript for free on seekingalpha.com