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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | $ 100,330 | 81,288 | 41,651 |
| Costs and expenses: | |||
| Cost of sales | 34,344 | 30,821 | 8,484 |
| Selling, informational and administrative expenses | 13,677 | 12,703 | 11,597 [1] |
| Research and development expenses | 11,428 | 10,360 | 8,709 |
| Acquired in-process research and development expenses | 953 [2] | 3,469 | 684 |
| Amortization of intangible assets | 3,609 | 3,700 | 3,348 |
| Restructuring charges and certain acquisition-related costs | 1,375 | 802 | 579 |
| Other (income)/deductionsnet | 217 | (4,878) | 1,213 |
| Income from continuing operations before provision/(benefit) for taxes on income | 34,729 | 24,311 | 7,036 |
| Provision/(benefit) for taxes on income | 3,328 | 1,852 | 370 |
| Income from continuing operations | 31,401 | 22,459 | 6,666 |
| Discontinued operationsnet of tax | 6 | (434) | 2,529 |
| Net income before allocation to noncontrolling interests | 31,407 | 22,025 | 9,195 |
| Less: Net income attributable to noncontrolling interests | 35 | 45 | 36 |
| Net income attributable to Pfizer Inc. common shareholders | 31,372 | 21,979 | 9,159 |
| Earnings per common sharebasic: | |||
| Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | 5.59 | 4.00 | 1.19 |
| Discontinued operationsnet of tax (in dollars per share) | 0.00 | (0.08) | 0.46 |
| Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | 5.59 | 3.92 | 1.65 |
| Earnings per common sharediluted: | |||
| Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | 5.47 | 3.93 | 1.18 |
| Discontinued operationsnet of tax (in dollars per share) | 0.00 | (0.08) | 0.45 |
| Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | 5.47 | 3.85 | 1.63 |
| Weighted-average sharesbasic | 5,608 | 5,601 | 5,555 |
| Weighted-average sharesdiluted | 5,733 | 5,708 | 5,632 |
| [1] Exclusive of amortization of intangible assets. | |||
| [2] See Note 1L. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PFIZER INC | |||
Ticker: PFE Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income before allocation to noncontrolling interests | $ 31,407 | 22,025 | 9,195 |
| Foreign currency translation adjustments, net | (2,328) | (682) | 772 |
| Reclassification adjustments | 0 | 0 | (17) |
| Other comprehensive income (loss), foreign currency transaction and translation adjustment, before tax, total | (2,328) | (682) | 755 |
| Unrealized holding gains/(losses) on derivative financial instruments, net | 1,444 | 526 | (582) |
| Reclassification adjustments for (gains)/losses included in net income | (2,062) | 134 | 21 [1] |
| Other comprehensive income (loss), derivatives qualifying as hedges, before tax, total | (618) | 660 | (561) |
| Unrealized holding gains/(losses) on available-for-sale securities, net | (1,306) | (355) | 361 |
| Reclassification adjustments for (gains)/losses included in net income | 1,809 | (30) [2] | (188) |
| Other comprehensive income (loss), available-for-sale securities adjustment, before tax, total | 502 | (384) | 173 |
| Benefit plans: prior service (costs)/credits and other, net | (24) | 116 | 52 |
| Reclassification adjustments related to amortization of prior service costs and other, net | (129) | (154) | (176) |
| Reclassification adjustments related to curtailments of prior service costs and other, net | (12) | (75) | 0 |
| Other comprehensive income (loss), benefit plans, prior service (costs)/credits, before tax, total | (166) | (113) | (124) |
| Other comprehensive income/(loss), before tax | (2,609) | (519) | 243 |
| Tax provision/(benefit) on other comprehensive income/(loss) | (187) | 71 | (227) |
| Other comprehensive income/(loss), net of tax | (2,422) | (589) | 471 |
| Comprehensive income/(loss) before allocation to noncontrolling interests | 28,985 | 21,435 | 9,666 |
| Less: Comprehensive income/(loss) attributable to noncontrolling interests | 20 | 43 | 27 |
| Comprehensive income/(loss) attributable to Pfizer Inc. | 28,965 | 21,393 | 9,639 |
| [1] Reclassified into Other (income)/deductionsnet and Cost of sales. See Note 7E. | |||
| [2] Reclassified into Other (income)/deductionsnet. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PFIZER INC | |||
Ticker: PFE Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating Activities | |||
| Net income before allocation to noncontrolling interests | $ 31,407 | 22,025 | 9,195 |
| Discontinued operationsnet of tax | 6 | (434) | 2,529 |
| Net income from continuing operations before allocation to noncontrolling interests | 31,401 | 22,459 | 6,666 |
| Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 5,064 | 5,191 | 4,681 |
| Asset write-offs and impairments | 550 | 276 | 2,049 |
| Deferred taxes from continuing operations | (3,764) | (4,293) | (1,575) |
| Share-based compensation expense | 872 | 1,182 | 755 |
| Benefit plan contributions in excess of expense/income | (1,158) | (3,123) | (1,242) |
| Other adjustments, net | 758 | (1,573) | (485) |
| Other changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Trade accounts receivable | 261 | (3,811) | (1,275) |
| Inventories | 592 | (1,125) | (778) |
| Other assets | (4,506) | (1,057) | (137) [1] |
| Trade accounts payable | 1,191 | 1,242 | 355 |
| Other liabilities | (1,449) | 18,721 | 2,768 |
| Other tax accounts, net | (545) | (1,166) | (1,240) |
| Net cash provided by operating activities from continuing operations | 29,267 | 32,922 | 10,540 |
| Net cash provided by/(used in) operating activities from discontinued operations | 0 | (343) | 3,863 |
| Net cash provided by operating activities | 29,267 | 32,580 | 14,403 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (3,236) | (2,711) | (2,226) |
| Purchases of short-term investments | (36,384) | (38,457) | (13,805) |
| Proceeds from redemptions/sales of short-term investments | 44,821 | 27,447 | 11,087 |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | (483) | (8,088) | 920 |
| Purchases of long-term investments | (1,913) | (1,068) | (597) |
| Proceeds from redemptions/sales of long-term investments | 641 | 649 | 723 |
| Acquisitions of businesses, net of cash acquired | (22,997) | 0 | 0 |
| Dividend received from the Consumer Healthcare JV | 3,960 [2] | 0 | 0 |
| Other investing activities, net | (192) | (305) | (265) |
| Net cash provided by/(used in) investing activities from continuing operations | (15,783) | (22,534) | (4,162) |
| Net cash provided by/(used in) investing activities from discontinued operations | 0 | (12) | (109) |
| Net cash provided by/(used in) investing activities | (15,783) | (22,546) | (4,271) |
| Financing Activities | |||
| Proceeds from short-term borrowings | 3,891 | 0 | 12,352 |
| Payments on short-term borrowings | (3,887) | 0 | (22,197) |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | (222) | (96) | (4,129) |
| Proceeds from issuances of long-term debt | 0 | 997 | 5,222 |
| Payments on long-term debt | (3,298) | (2,004) | (4,003) |
| Purchases of common stock | (2,000) | 0 | 0 |
| Cash dividends paid | (8,983) | (8,729) | (8,440) |
| Other financing activities, net | (335) | 16 | (444) |
| Net cash provided by/(used in) financing activities from continuing operations | (14,834) | (9,816) | (21,640) |
| Net cash provided by/(used in) financing activities from discontinued operations | 0 | 0 | 11,991 |
| Net cash provided by/(used in) financing activities | (14,834) | (9,816) | (9,649) |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | (165) | (59) | (8) |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | (1,515) | 159 | 475 |
| Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period | 1,983 | 1,825 | |
| Cash and cash equivalents and restricted cash and cash equivalents, at end of period | 468 | 1,983 | 1,825 |
| Supplemental Cash Flow Information | |||
| Cash paid/(received) during the period for: | |||
| Income taxes | 7,867 | 7,427 | 3,153 |
| Interest paid | 1,442 | 1,467 | 1,641 |
| Interest rate hedges | 54 | (2) | (20) |
| Non-cash transaction: | |||
| Right-of-use assets obtained in exchange for lease liabilities | 752 | 1,943 | 410 |
| [1] See Note 8A. | |||
| [2] See Note 2C. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PFIZER INC | ||
Ticker: PFE Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and cash equivalents | $ 416 | 1,944 |
| Short-term investments | 22,316 | 29,125 |
| Trade accounts receivable, less allowance for doubtful accounts: 2022$449; 2021$492 | 10,952 | 11,479 |
| Inventories | 8,981 | 9,059 |
| Current tax assets | 3,577 | 4,266 |
| Other current assets | 5,017 | 3,820 |
| Total current assets | 51,259 | 59,693 |
| Equity-method investments | 11,033 | 16,472 |
| Long-term investments | 4,036 | 5,054 |
| Property, plant and equipment | 16,274 | 14,882 |
| Identifiable intangible assets | 43,370 | 25,146 |
| Goodwill | 51,375 | 49,208 |
| Noncurrent deferred tax assets and other noncurrent tax assets | 6,693 | 3,341 |
| Other noncurrent assets | 13,163 | 7,679 |
| Total assets | 197,205 | 181,476 |
| Liabilities and Equity | ||
| Short-term borrowings, including current portion of long-term debt: 2022$2,560; 2021$1,636 | 2,945 | 2,241 |
| Trade accounts payable | 6,809 | 5,578 |
| Dividends payable | 2,303 | 2,249 |
| Income taxes payable | 1,587 | 1,266 |
| Accrued compensation and related items | 3,407 | 3,332 |
| Deferred revenues | 2,520 | 3,067 |
| Other current liabilities | 22,568 | 24,939 |
| Total current liabilities | 42,138 | 42,671 |
| Long-term debt | 32,884 | 36,195 |
| Pension and postretirement benefit obligations | 2,250 | 3,724 |
| Noncurrent deferred tax liabilities | 1,023 | 349 |
| Other taxes payable | 9,812 | 11,331 |
| Other noncurrent liabilities | 13,180 | 9,743 |
| Total liabilities | 101,288 | 104,013 |
| Commitments and Contingencies | ||
| Preferred stock, no par value, at stated value; 27 shares authorized; no shares issued or outstanding at December 31, 2022 and December 31, 2021 | 0 | 0 |
| Common stock, $0.05 par value; 12,000 shares authorized; issued: 20229,519; 20219,471 | 476 | 473 |
| Additional paid-in capital | 91,802 | 90,591 |
| Treasury stock, shares at cost: 20223,903; 20213,851 | (113,969) | (111,361) |
| Retained earnings | 125,656 | 103,394 |
| Accumulated other comprehensive loss | (8,304) | (5,897) |
| Total Pfizer Inc. shareholders equity | 95,661 | 77,201 |
| Equity attributable to noncontrolling interests | 256 | 262 |
| Total equity | 95,916 | 77,462 |
| Total liabilities and equity | 197,205 | 181,476 |
| External Links | |
| PFIZER INC (PFE) Fiscal Year 2022 | |
| 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 |