10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PFIZER INC | |||
Ticker: PFE Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating Activities | |||
| Net income before allocation to noncontrolling interests | $ 22,025 | 9,195 | 16,056 |
| Discontinued operationsnet of tax | (434) | 2,529 | 5,318 |
| Net income from continuing operations before allocation to noncontrolling interests | 22,459 | 6,666 | 10,738 |
| Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 5,191 | 4,681 | 5,755 |
| Asset write-offs and impairments | 276 | 2,049 | 2,889 |
| TCJA impact | 0 | 0 | (323) |
| Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed | 0 | (6) | (8,254) |
| Deferred taxes from continuing operations | (4,293) | (1,575) | 561 |
| Share-based compensation expense | 1,182 | 755 | 687 |
| Benefit plan contributions in excess of expense/income | (3,123) | (1,242) | (55) |
| Other adjustments, net | (1,573) | (479) | (1,080) |
| Other changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Trade accounts receivable | (3,811) | (1,275) | (1,124) |
| Inventories | (1,125) | (778) | (1,071) |
| Other assets | (1,057) | (137) | 847 |
| Trade accounts payable | 1,242 | 355 | (341) |
| Other liabilities | 18,721 | 2,768 | 861 |
| Other tax accounts, net | (1,166) | (1,240) | (3,074) |
| Net cash provided by operating activities from continuing operations | 32,922 | 10,540 | 7,015 |
| Net cash provided by/(used in) operating activities from discontinued operations | (343) | 3,863 | 5,572 |
| Net cash provided by operating activities | 32,580 | 14,403 | 12,588 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (2,711) | (2,226) | (2,046) |
| Purchases of short-term investments | (38,457) | (13,805) | (6,835) |
| Proceeds from redemptions/sales of short-term investments | 27,447 | 11,087 | 9,183 |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | (8,088) | 920 | 6,925 |
| Purchases of long-term investments | (1,068) | (597) | (201) |
| Proceeds from redemptions/sales of long-term investments | 649 | 723 | 232 |
| Acquisitions of businesses, net of cash acquired | 0 | 0 | (10,861) |
| Other investing activities, net | (305) [1] | (265) | (223) |
| Net cash provided by/(used in) investing activities from continuing operations | (22,534) | (4,162) | (3,825) |
| Net cash provided by/(used in) investing activities from discontinued operations | (12) | (109) | (120) |
| Net cash provided by/(used in) investing activities | (22,546) | (4,271) | (3,945) |
| Financing Activities | |||
| Proceeds from short-term borrowings | 0 | 12,352 | 16,455 |
| Principal payments on short-term borrowings | 0 | (22,197) | (8,378) |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | (96) | (4,129) | 2,551 |
| Proceeds from issuance of long-term debt | 997 | 5,222 | 4,942 |
| Principal payments on long-term debt | (2,004) | (4,003) | (6,806) |
| Purchases of common stock | 0 | 0 | (8,865) |
| Cash dividends paid | (8,729) | (8,440) | (8,043) |
| Other financing activities, net | 16 | (444) | (342) |
| Net cash provided by/(used in) financing activities from continuing operations | (9,816) | (21,640) | (8,485) |
| Net cash provided by/(used in) financing activities from discontinued operations | 0 | 11,991 | 0 |
| Net cash provided by/(used in) financing activities | (9,816) | (9,649) | (8,485) |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | (59) | (8) | (32) |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | 159 | 475 | 125 |
| Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period | 1,825 | 1,350 | |
| Cash and cash equivalents and restricted cash and cash equivalents, at end of period | 1,983 | 1,825 | 1,350 |
| Supplemental Cash Flow Information | |||
| Cash paid/(received) during the period for: | |||
| Income taxes | 7,427 | 3,153 | 3,664 |
| Interest paid | 1,467 | 1,641 | 1,587 |
| Interest rate hedges | (2) | (20) | (42) |
| Non-cash transactions: | |||
| Right-of-use assets obtained in exchange for lease liabilities | 1,943 | 410 | 314 |
| Investment, Name | |||
| Consumer Healthcare JV | |||
| Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed | (8,300) | ||
| Equity investment in exchange for Pfizer's assets | 0 | 0 | 15,711 |
| [1] The $8.3 billion Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed reflects the receipt of a 32% equity-method investment in the new company initially valued at $15.7 billion in exchange for net assets contributed of $7.6 billion and is presented in operating activities net of $146 million cash conveyed that is reflected in Other investing activities, net. See Note 2C. | |||
| External Links | |
| PFIZER INC (PFE) Fiscal Year 2021 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |