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: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating Activities | |||
| Net income before allocation to noncontrolling interests | $ 9,168 | 22,072 | 14,598 |
| Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 5,537 | 6,410 | 7,655 |
| Asset write-offs and impairments | 531 | 1,145 | 1,299 |
| Gain on disposal of discontinued operations | (51) | (10,446) | (7,123) |
| Gain associated with the transfer of certain product rights to an equity-method investment | 0 [1] | (459) | 0 |
| Deferred taxes from continuing operations | 320 | 1,726 | 786 |
| Deferred taxes from discontinued operations | (3) | (23) | 1,412 |
| Share-based compensation expense | 586 | 523 | 481 |
| Benefit plan contributions (in excess of)/less than expense | (199) | 296 | 135 |
| Other adjustments, net | (430) | (182) | (130) |
| Other changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable | 148 | 940 | 367 |
| Inventories | 175 | (538) | (631) |
| Other assets | 1,156 | (822) | (434) |
| Accounts payable | 297 | 382 | 579 |
| Other liabilities | (844) | (3,170) | (2,738) |
| Other tax accounts, net | 491 | (170) | 490 |
| Net cash provided by operating activities | 16,883 | 17,684 | 16,746 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (1,199) | (1,206) | (1,327) |
| Purchases of short-term investments | (50,954) | (42,761) | (24,018) |
| Proceeds from redemptions/sales of short-term investments | 47,374 | 41,127 | 25,302 |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of 90 days or less | 3,930 | (4,277) | 1,459 |
| Purchases of long-term investments | (10,718) | (11,020) | (11,145) |
| Proceeds from redemptions/sales of long-term investments | 6,145 | 7,555 | 4,990 |
| Acquisitions of businesses, net of cash acquired | (195) | (15) | (1,050) |
| Acquisitions of intangible assets | (384) | (259) | (92) |
| Proceeds from sale of businesses | 0 | 0 | 11,850 |
| Other investing activities, net | 347 | 312 | 185 |
| Net cash provided by/(used in) investing activities | (5,654) | (10,544) | 6,154 |
| Financing Activities | |||
| Proceeds from short-term borrowings | 13 | 4,323 | 7,995 |
| Principal payments on short-term borrowings | (10) | (4,234) | (8,177) |
| Net proceeds from/(payments on) short-term borrowings with original maturities of 90 days or less | (1,841) | 3,475 | (30) |
| Proceeds from issuance of long-term debt(a) | 4,491 [2] | 6,618 | 0 |
| Principal payments on long-term debt | (2,104) | (4,146) | (1,513) |
| Purchases of common stock | (5,000) | (16,290) | (8,228) |
| Cash dividends paid | (6,609) | (6,580) | (6,534) |
| Proceeds from exercise of stock options | 1,002 | 1,750 | 568 |
| Other financing activities, net | 72 | 109 | (80) |
| Net cash used in financing activities | (9,986) | (14,975) | (15,999) |
| Effect of exchange-rate changes on cash and cash equivalents | (83) | (63) | (2) |
| Net increase/(decrease) in cash and cash equivalents | 1,160 | (7,898) | 6,899 |
| Cash and cash equivalents, beginning | 2,183 | 10,081 | |
| Cash and cash equivalents, end | 3,343 | 2,183 | 10,081 |
| Supplemental Cash Flow Information | |||
| Sale of subsidiary common stock (Zoetis) for Pfizer common stock(b) | 0 | 11,408 | 0 |
| Exchange of subsidiary common stock (Zoetis) for the retirement of Pfizer commercial paper issued in 2013(b) | 0 [3] | 2,479 | 0 |
| Exchange of subsidiary senior notes (Zoetis) for the retirement of Pfizer commercial paper issued in 2012(b) | 0 | 992 | 0 |
| Transfer of certain product rights to an equity-method investment (Hisun Pfizer)(c) | 0 | 1,233 | 0 [4] |
| Contribution of an investment in connection with the resolution of a legal matter (Quigley) | 0 | 447 | 0 |
| Cash paid during the period for: | |||
| Income taxes | 2,100 | 2,874 | 2,409 |
| Interest | 1,550 | 1,729 | 1,873 |
| [1] In 2013, represents the gain associated with the transfer of certain product rights to Hisun Pfizer. For additional information, see Note 2E. | |||
| [2] In 2013, includes $2.6 billion from the issuance of senior notes by Zoetis (our former Animal Health subsidiary), which is net of the $1.0 billion non-cash exchange of Zoetis senior notes for the retirement of Pfizer commercial paper issued in 2012. See Note 2D. Acquisitions, Licensing Agreements, Collaborative Arrangements, Divestitures, and Equity-Method Investments: Divestitures. | |||
| [3] See Note 2D. Acquisitions, Licensing Agreements, Collaborative Arrangements, Divestitures, and Equity-Method Investments: Divestitures. | |||
| [4] See Note 2E. Acquisitions, Licensing Agreements, Collaborative Arrangements, Divestitures, and Equity-Method Investments: Equity-Method Investments. | |||
| External Links | |
| PFIZER INC (PFE) Fiscal Year 2014 | |
| 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 |