PFIZER INC

PFE
Pharmaceutical preparations
Last filing · Quarter 2 · Jun 28, 2026
Financial Statements Ratios
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Statement
Income StatementBalance SheetCash Flow
Period
Annual Quarterly
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PFIZER INC back to 2009, every line as filed.

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USD ($)
$ in Millions 		LTMDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021Dec 31, 2020Dec 31, 2019Dec 31, 2018Dec 31, 2017Dec 31, 2016Dec 31, 2015Dec 31, 2014Dec 31, 2013Dec 31, 2012Dec 31, 2011Dec 31, 2010Dec 31, 2009
Operating Activities
                  
Net income before allocation to noncontrolling interests
$ 4,369
$ 7,812
$ 8,062
$ 2,158
Discontinued operations––net of tax
(5)
25
11
(15)
Net income from continuing operations before allocation to noncontrolling interests
4,374
7,787
8,051
2,172
Adjustments to reconcile net income from continuing operations before allocation to noncontrolling interests to net cash provided by/(used in) operating activities:
                  
Depreciation and amortization
6,584
6,592
7,013
6,290
Asset write-offs and impairments
9,197
5,270
4,242
3,408
Foreign currency loss related to Venezuela
-
-
-
-
Loss on sale of HIS net assets
-
-
-
-
TCJA impact
-
-
-
-
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed
-
-
-
-
Acquisition-related in-process research and development charges
-
-
-
-
Asset write-offs, impairments and related charges
-
-
-
-
Gain/(loss) on disposal of discontinued operations
-
-
-
-
Write-down of HIS net assets to fair value less estimated costs to sell
-
-
-
-
Gain associated with the transfer of certain product rights to an equity-method investment
-
-
-
-
Gains on disposals
-
-
-
-
Deferred taxes
(2,530)
(2,133)
(2,102)
(3,442)
Deferred taxes from discontinued operations
-
-
-
-
Share-based compensation expense
947
799
877
525
Benefit plan contributions in excess of expense/income
(737)
(786)
(12)
(787)
Inventory write-offs and related charges associated with COVID-19 products
0
0
0
6,199
Benefit plan contributions (in excess of)/less than expense
-
-
-
-
Other adjustments, net
(568)
(470)
(2,260)
(3,492)
Other non-cash adjustments
-
-
-
-
Other changes in assets and liabilities, net of acquisitions and divestitures:
                  
Trade accounts receivable
(263)
(263)
(109)
347
Inventories
561
561
(854)
(1,169)
Other assets
1,289
1,289
3,380
(663)
Trade accounts payable
(469)
(469)
(1,023)
(300)
Accounts payable
-
-
-
-
Other liabilities
(3,667)
(3,667)
(3,115)
595
Other tax accounts, net
(2,805)
(2,805)
(1,345)
(982)
Net cash provided by/(used in) operating activities from continuing operations
-
-
-
8,700
Net cash provided by/(used in) operating activities from discontinued operations
-
-
-
0
Accounts payable and other liabilities
-
-
-
-
Net cash provided by/(used in) operating activities
13,401
11,704
12,744
8,700
Investing Activities
                  
Purchases of property, plant and equipment
(2,416)
(2,629)
(2,909)
(3,907)
Purchases of short-term investments
(13,384)
(14,356)
(10,133)
(30,974)
Proceeds from redemptions/sales of short-term investments
14,073
17,959
4,128
39,264
Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less
379
(2,675)
3,136
5,174
Proceeds from redemptions and sales of short-term investments with original maturities greater than 90 days
-
-
-
-
Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less
-
-
-
-
Purchases of long-term investments
(303)
(294)
(180)
(204)
Proceeds from redemptions/sales of long-term investments
1,122
1,095
1,570
1,979
Proceeds from partial sales of investment in Haleon
-
6,311
7,040
-
Proceeds from redemptions and sales of long-term investments
-
-
-
-
Proceeds from redemptions of short-term loans
-
-
-
-
Issuances of short-term loans
-
-
-
-
Proceeds from redemptions of long-term loans
-
-
-
-
Issuances of long-term loans
-
-
-
-
Acquisitions of businesses, net of cash acquired
(6,927)
(6,927)
0
(43,430)
Dividend received from the Consumer Healthcare JV
-
-
0
0
Acquisitions of intangible assets
-
-
-
-
Proceeds from sale of businesses
-
-
-
-
Other investing activities, net
(102)
165
2
(179)
Net cash provided by/(used in) investing activities from continuing operations
-
-
-
(32,278)
Net cash provided by/(used in) investing activities from discontinued operations
-
-
-
0
Net cash provided by/(used in) investing activities
(5,685)
(1,351)
2,652
(32,278)
Financing Activities
                  
Proceeds from short-term borrowings
-
0
8,907
4,525
Payments on short-term borrowings
0
(2,199)
(11,226)
(3)
Increase in short-term borrowings - net
-
-
-
-
Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less
44
(796)
(2,590)
3,161
Proceeds from issuance of long-term debt
5,991
9,678
0
30,831
Payments on long-term debt
(4,257)
(6,757)
(2,250)
(2,569)
Purchases of common stock
-
-
0
0
Cash dividends paid
(9,785)
(9,771)
(9,512)
(9,247)
Proceeds from exercise of stock options
-
-
-
-
Other financing activities, net
(392)
(458)
(469)
(631)
Net cash provided by/(used in) financing activities from continuing operations
-
-
-
-
Net cash provided by/(used in) financing activities from discontinued operations
-
-
-
-
Net cash provided by/(used in) financing activities
(8,400)
(10,304)
(17,140)
26,066
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents
22
41
(66)
(40)
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents
(661)
91
(1,810)
2,448
Effect of exchange-rate changes on cash and cash equivalents
-
-
-
-
Net increase/(decrease) in cash and cash equivalents
-
-
-
-
Supplemental Cash Flow Information
                  
Exchange of $1.1 billion net book value 6.50% U.K. pound denominated bonds maturing in 2038 for $1.8 billion of new 2.735% U.K. pound denominated bonds maturing in 2043, resulting in a debt extinguishment loss of $747 million
-
-
-
-
Receipt of ICU Medical common stock
-
-
-
-
Promissory note from ICU Medical
-
-
-
-
Exchange of Hospira subsidiary debt for Pfizer debt
-
-
-
-
Sale of subsidiary common stock (Zoetis) for Pfizer common stock
-
-
-
-
Exchange of subsidiary common stock (Zoetis) for the retirement of Pfizer commercial paper issued in 2013
-
-
-
-
Exchange of subsidiary senior notes (Zoetis) for the retirement of Pfizer commercial paper issued in 2012
-
-
-
-
Transfer of certain product rights to an equity-method investment (Hisun Pfizer)
-
-
-
-
Contribution of an investment in connection with the resolution of a legal matter (Quigley)
-
-
-
-
Cash paid/(received) during the period for:
                  
Contribution of an investment in connection with the resolution of a legal matter (Quigley)(d)
-
-
-
-
Non-cash transactions-Acquisition of Wyeth, treasury stock issued
-
-
-
-
Cash paid during the period for:
                  
Income taxes
4,734
4,688
3,605
3,147
Interest
-
-
-
-
Cash paid during the period for:
                  
Interest paid
2,797
2,739
3,227
2,215
Interest rate hedges
115
140
178
134
Non-cash transaction:
                  
Right-of-use assets obtained in exchange for lease liabilities
$ 288
$ 288
$ 283
$ 614