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: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | $ 58,986 | 65,259 [1] | 65,165 |
| Costs and expenses: | |||
| Cost of sales | 11,334 [2] | 14,076 | 14,788 |
| Selling, informational and administrative expenses | 16,616 | 18,832 | 18,973 |
| Research and development expenses | 7,870 | 9,074 | 9,483 |
| Amortization of intangible assets | 5,175 | 5,544 | 5,364 |
| Restructuring charges and certain acquisition-related costs | 1,880 | 2,930 | 3,145 |
| Other deductionsnet | 4,031 | 2,499 | 3,941 |
| Income from continuing operations before provision for taxes on income | 12,080 [3] | 12,304 | 9,471 |
| Provision for taxes on income | 2,562 | 3,909 | 1,153 [4] |
| Income from continuing operations | 9,518 | 8,395 | 8,318 |
| Discontinued operations: | |||
| Income/(loss) from discontinued operationsnet of tax | 297 | 350 | (19) |
| Gain/(loss) on sale of discontinued operationsnet of tax | 4,783 | 1,304 | (11) |
| Discontinued operationsnet of tax | 5,080 | 1,654 | (30) |
| Net income before allocation to noncontrolling interests | 14,598 | 10,049 | 8,288 |
| Less: Net income attributable to noncontrolling interests | 28 | 40 | 31 |
| Net income attributable to Pfizer Inc. | 14,570 | 10,009 | 8,257 |
| Earnings per common sharebasic: | |||
| Income from continuing operations attributable to Pfizer Inc. common shareholders | 1.27 | 1.07 | 1.03 |
| Discontinued operationsnet of tax | 0.68 | 0.21 | 0.00 |
| Net income attributable to Pfizer Inc. common shareholders | 1.96 | 1.28 | 1.03 [5] |
| Earnings per common sharediluted: | |||
| Income from continuing operations attributable to Pfizer Inc. common shareholders | 1.26 | 1.06 | 1.03 |
| Discontinued operationsnet of tax | 0.68 | 0.21 | 0.00 |
| Net income attributable to Pfizer Inc. common shareholders | 1.94 | 1.27 | 1.02 |
| Weighted-average sharesbasic | 7,442 | 7,817 | 8,036 |
| Weighted-average sharesdiluted | 7,508 | 7,870 | 8,074 |
| Cash dividends paid per common share | 0.88 | 0.80 | 0.72 |
| [5] EPS amounts may not add due to rounding. | |||
| [1] ) For 2011, includes King commencing on the acquisition date of January 31, 2011. | |||
| [2] Exclusive of amortization of intangible assets, except as disclosed in Note 1K. Basis of Presentation and Significant Accounting Policies: Amortization of Intangible Assets, Depreciation and Certain Long-Lived Assets. | |||
| [3] 2011 v. 2010The decrease in the domestic loss was primarily due to the non-recurrence of a charge of $1.3 billion (pre-tax) in 2010 for asbestos litigation related to our wholly owned subsidiary, Quigley Company, Inc., partially offset by a reduction in revenues due to the loss of exclusivity for several biopharmaceutical products and the impact of the U.S. Healthcare Legislation. The increase in international income was due to the favorable impact of foreign exchange, lower impairment charges, as well as | |||
| [4] In 2012, the Provision for taxes on income was impacted by the following:U.S. tax expense of approximately $2.2 billion as a result of providing U.S. deferred income taxes on certain current-year funds earned outside the U.S. that will not be indefinitely reinvested overseas (see Note 5C. Tax Matters: Deferred Taxes); U.S. tax benefits of approximately $1.1 billion, representing tax and interest, resulting from a multi-year settlement with the IRS with respect to audits of the Pfizer Inc. tax returns for | |||
| External Links | |
| PFIZER INC (PFE) Fiscal Year 2012 | |
| 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 |