← PFIZER INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $7.2b | $21.3b | $11.2b | $16.3b | $9.6b | $22.0b | $31.4b | $2.1b | $8.0b | $7.8b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $7.2b | $21.3b | $11.2b | $16.3b | $9.6b | $22.0b | $31.4b | $2.1b | $8.0b | $7.8b | |
| Discontinued operations––net of tax | — | — | $7.3b | $5.4b | $2.6b | ($434.0m) | $6.0m | ($15.0m) | $11.0m | $25.0m | |
| Net income before allocation to noncontrolling interests | $7.2b | $21.4b | $11.2b | $16.3b | $9.7b | $22.0b | $31.4b | $2.2b | $8.1b | $7.8b | |
| Net income from continuing operations before allocation to noncontrolling interests | — | — | $3.9b | $10.9b | $7.0b | $22.5b | $31.4b | $2.2b | $8.1b | $7.8b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $7.2b | $21.3b | $11.1b | $16.3b | $7.0b | $22.4b | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $7.2b | $21.4b | $11.2b | $16.3b | $7.0b | $22.5b | $31.4b | $2.2b | $8.1b | $7.8b | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $17.0m | $2.0m | $10.0m | $4.0m | $2.6b | ($434.0m) | $6.0m | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $17.0m | $2.0m | $10.0m | $4.0m | $2.6b | ($434.0m) | $6.0m | ($15.0m) | $11.0m | $25.0m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $31.0m | $47.0m | $36.0m | $29.0m | $36.0m | $45.0m | $35.0m | $39.0m | $31.0m | $41.0m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $7.2b | $21.4b | $11.2b | $16.3b | $9.7b | $22.0b | $31.4b | $2.2b | $8.1b | $7.8b | |
| Amortization of Intangible Assets | — | — | — | — | — | $3.7b | $3.6b | $4.7b | $5.3b | — | |
| Depreciation, Depletion and Amortization | $5.8b | $6.3b | $6.4b | $6.0b | $4.8b | $5.2b | $5.1b | $6.3b | $7.0b | $6.6b | |
| Deferred Income Tax Expense (Benefit) | ($700.0m) | ($2.4b) | ($2.2b) | $614.0m | ($1.5b) | ($4.3b) | ($3.8b) | ($3.4b) | ($2.1b) | ($2.1b) | |
| Deferred taxes | ($700.0m) | ($2.4b) | ($2.2b) | $614.0m | ($1.5b) | ($4.3b) | ($3.8b) | ($3.4b) | ($2.1b) | ($2.1b) | |
| Asset write-offs and impairments | $1.6b | $634.0m | $3.4b | $3.0b | $2.0b | $276.0m | $550.0m | $3.4b | $4.2b | $5.3b | |
| Impairment of Intangible Assets (Excluding Goodwill) | $869.0m | $337.0m | $3.1b | $2.8b | $1.7b | — | $421.0m | $3.0b | $3.3b | $4.9b | |
| Impairment of Intangible Assets, Finite-lived | — | $337.0m | — | — | — | — | — | — | — | — | |
| Share-based Payment Arrangement, Expense | — | — | — | — | $780.0m | $1.2b | $872.0m | $525.0m | $877.0m | $799.0m | |
| Share-based Payment Arrangement, Noncash Expense | $691.0m | $840.0m | $949.0m | $718.0m | $756.0m | $1.2b | $872.0m | $525.0m | $877.0m | $799.0m | |
| Share-based compensation expense | $691.0m | $840.0m | $949.0m | $718.0m | $756.0m | $1.2b | $872.0m | $525.0m | $877.0m | $799.0m | |
| Gain (Loss) on Disposition of Assets | — | — | $71.0m | $31.0m | ($237.0m) | $99.0m | $0 | — | — | — | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | — | $222.0m | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | $52.0m | $60.0m | — | — | — | — | — | — | — | |
| Gain (Loss) on Extinguishment of Debt | ($312.0m) | ($999.0m) | ($3.0m) | ($138.0m) | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $1.1b | ($9.0b) | $706.0m | $1.4b | $477.0m | $1.9b | $3.3b | ($1.1b) | ($28.0m) | ($266.0m) | |
| Other Nonoperating Income (Expense) | ($3.7b) | ($1.3b) | ($2.1b) | ($3.6b) | ($669.0m) | $4.9b | ($217.0m) | $835.0m | ($4.4b) | ($6.7b) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Benefit plan contributions in excess of expense/income | ($712.0m) | ($961.0m) | ($1.1b) | ($336.0m) | ($1.8b) | ($3.1b) | ($1.2b) | ($787.0m) | ($12.0m) | ($786.0m) | |
| Debt Securities, Realized Gain (Loss) | — | — | ($141.0m) | $0 | $0 | — | — | — | — | — | |
| Deconsolidation, Gain (Loss), Amount | — | — | — | $8.1b | $6.0m | $0 | — | — | — | — | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | ($55.0m) | $1.0m | — | — | — | — | — | — | — | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | $586.0m | $454.0m | $540.0m | $1.3b | ($1.3b) | $1.6b | $1.0b | ($67.0m) | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | $109.0m | $25.0m | $24.0m | $80.0m | $126.0m | $1.8b | $1.1b | ($35.0m) | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | $477.0m | $429.0m | $515.0m | $1.3b | ($1.4b) | ($165.0m) | ($114.0m) | ($32.0m) | |
| Foreign Currency Transaction Gain (Loss), Unrealized | $0 | $0 | — | — | — | — | — | — | — | — | |
| Gain (Loss) Related to Litigation Settlement | — | ($240.0m) | ($157.0m) | ($554.0m) | ($28.0m) | ($182.0m) | ($230.0m) | ($474.0m) | ($567.0m) | ($1.1b) | |
| Goodwill | $54.4b | $56.0b | $53.4b | $58.7b | $49.6b | $49.2b | $51.4b | $67.8b | $68.5b | $71.3b | |
| Income taxes | $2.5b | $2.5b | $3.7b | $3.7b | $3.2b | $7.4b | $7.9b | $3.1b | $3.6b | $4.7b | |
| Increase (Decrease) in Accounts Receivable | $134.0m | ($259.0m) | $644.0m | $742.0m | $1.2b | $3.8b | ($261.0m) | ($347.0m) | $109.0m | $263.0m | |
| Increase (Decrease) in Inventories | ($365.0m) | $357.0m | $717.0m | $1.1b | $736.0m | $1.1b | ($592.0m) | $1.2b | $854.0m | ($561.0m) | |
| Interest rate hedges | ($338.0m) | ($199.0m) | ($38.0m) | ($42.0m) | ($20.0m) | ($2.0m) | $54.0m | $134.0m | $178.0m | $140.0m | |
| Inventories | $365.0m | ($357.0m) | ($717.0m) | ($1.1b) | ($736.0m) | ($1.1b) | $592.0m | ($1.2b) | ($854.0m) | $561.0m | |
| Inventory Write-down | — | — | — | — | — | — | — | $6.2b | $0 | $0 | |
| Inventory write-offs and related charges associated with COVID-19 products | — | — | — | — | — | $0 | $1.2b | $6.2b | $0 | $0 | |
| Investment Income, Interest | $470.0m | $391.0m | $333.0m | $226.0m | $73.0m | $36.0m | $251.0m | $1.6b | $545.0m | $603.0m | |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | ($3.1b) | $1.4b | ($1.6b) | $2.6b | ($4.1b) | ($96.0m) | ($222.0m) | $3.2b | ($2.6b) | ($796.0m) | |
| Other adjustments, net | $209.0m | $50.0m | ($1.3b) | ($1.1b) | ($478.0m) | ($1.6b) | $758.0m | ($3.5b) | ($2.3b) | ($470.0m) | |
| Other assets | ($60.0m) | ($31.0m) | ($16.0m) | $795.0m | ($146.0m) | ($1.1b) | ($4.5b) | ($663.0m) | $3.4b | $1.3b | |
| Other liabilities | ($223.0m) | ($67.0m) | $98.0m | $267.0m | $2.7b | $18.7b | ($1.4b) | $595.0m | ($3.1b) | ($3.7b) | |
| Other tax accounts, net | ($734.0m) | $1.4b | ($78.0m) | ($2.7b) | ($1.2b) | ($1.2b) | ($545.0m) | ($982.0m) | ($1.3b) | ($2.8b) | |
| Payments on short-term borrowings | ($5.1b) | ($10.0b) | ($4.4b) | ($8.4b) | ($22.2b) | $0 | ($3.9b) | ($3.0m) | ($11.2b) | ($2.2b) | |
| Proceeds from Stock Options Exercised | $1.0b | $862.0m | $1.3b | $394.0m | $425.0m | — | — | — | — | — | |
| Proceeds from short-term borrowings | $7.5b | $8.5b | $3.7b | $16.5b | $12.4b | $0 | $3.9b | $4.5b | $8.9b | $0 | |
| Right-of-use assets obtained in exchange for lease liabilities | — | — | — | $314.0m | $410.0m | $1.9b | $752.0m | $614.0m | $283.0m | $288.0m | |
| Trade accounts payable | $871.0m | $46.0m | $431.0m | ($564.0m) | $353.0m | $1.2b | $1.2b | ($300.0m) | ($1.0b) | ($469.0m) | |
| Trade accounts receivable | ($134.0m) | $259.0m | ($644.0m) | ($742.0m) | ($1.2b) | ($3.8b) | $261.0m | $347.0m | ($109.0m) | ($263.0m) | |
| Derivative, Gain (Loss) on Derivative, Net | — | — | — | — | — | — | ($1.2b) | $164.0m | $50.0m | $98.0m | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $0 | $3.0m | $0 | $0 | — | — | — | — | — | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | $16.0m | ($1.0m) | $10.0m | $4.0m | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $15.9b | $16.5b | $15.8b | $12.6b | $14.4b | $32.6b | $29.3b | $8.7b | $12.7b | $11.7b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.8b | $2.0b | $2.0b | $2.2b | $2.3b | $2.7b | $3.2b | $3.9b | $2.9b | $2.6b | |
| Acquisitions of businesses, net of cash acquired | ($18.4b) | ($1.0b) | $0 | ($10.9b) | $0 | $0 | ($23.0b) | ($43.4b) | $0 | ($6.9b) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $18.4b | $1.0b | $0 | $10.9b | $0 | $0 | $23.0b | $43.4b | $0 | $6.9b | |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | ($4.2b) | $2.1b | ($3.9b) | $6.9b | $920.0m | ($8.1b) | ($483.0m) | $5.2b | $3.1b | ($2.7b) | |
| Purchases of long-term investments | ($8.0b) | ($3.5b) | ($1.8b) | ($201.0m) | ($597.0m) | ($1.1b) | ($1.9b) | ($204.0m) | ($180.0m) | ($294.0m) | |
| Purchases of short-term investments | ($16.0b) | ($14.6b) | ($11.7b) | ($6.8b) | ($13.8b) | ($38.5b) | ($36.4b) | ($31.0b) | ($10.1b) | ($14.4b) | |
| Proceeds from partial sales of investment in Haleon | — | — | — | — | — | — | $0 | $0 | $7.0b | $6.3b | |
| Proceeds from redemptions/sales of long-term investments | $11.3b | $3.6b | $6.2b | $232.0m | $723.0m | $649.0m | $641.0m | $2.0b | $1.6b | $1.1b | |
| Proceeds from redemptions/sales of short-term investments | $29.4b | $10.3b | $17.6b | $9.2b | $11.1b | $27.4b | $44.8b | $39.3b | $4.1b | $18.0b | |
| Other investing activities, net | $51.0m | $650.0m | $288.0m | $205.0m | $274.0m | ($305.0m) | ($192.0m) | ($179.0m) | $2.0m | $165.0m | |
| Payments for (Proceeds from) Other Investing Activities | ($51.0m) | ($650.0m) | ($288.0m) | ($205.0m) | ($274.0m) | $305.0m | $192.0m | $179.0m | ($2.0m) | ($165.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($7.8b) | ($4.7b) | $4.5b | ($3.9b) | ($4.3b) | ($22.5b) | ($15.8b) | ($32.3b) | $2.7b | ($1.4b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $11.0b | $5.3b | $5.0b | $4.9b | $5.2b | $997.0m | $0 | $30.8b | $0 | $9.7b | |
| Payments on long-term debt | ($7.7b) | ($6.2b) | ($3.6b) | ($6.8b) | ($4.0b) | ($2.0b) | ($3.3b) | ($2.6b) | ($2.2b) | ($6.8b) | |
| Repayments of Long-term Debt | $7.7b | $6.2b | $3.6b | $6.8b | $4.0b | $2.0b | $3.3b | $2.6b | $2.2b | $6.8b | |
| Payments for Repurchase of Common Stock | $5.0b | $5.0b | $12.2b | $8.9b | $0 | $0 | $2.0b | $0 | $0 | — | |
| Cash dividends paid | ($7k) | ($8k) | ($8k) | ($8k) | ($8k) | ($9k) | ($9k) | ($9k) | ($10k) | ($10k) | |
| Dividends Payable, Current | $1.9b | $2.0b | $2.0b | $2.1b | $2.2b | $2.2b | $2.3b | $2.4b | $2.4b | $2.4b | |
| Other financing activities, net | ($196.0m) | ($233.0m) | ($588.0m) | ($736.0m) | ($869.0m) | $16.0m | ($335.0m) | ($631.0m) | ($469.0m) | ($458.0m) | |
| Proceeds from (Payments for) Other Financing Activities | ($196.0m) | ($233.0m) | ($588.0m) | ($736.0m) | ($869.0m) | $16.0m | ($335.0m) | ($631.0m) | ($469.0m) | ($458.0m) | |
| Net Cash Provided by (Used in) Financing Activities | ($8.9b) | ($13.0b) | ($20.4b) | ($8.5b) | ($9.6b) | ($9.8b) | ($14.8b) | $26.1b | ($17.1b) | ($10.3b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($116.0m) | ($32.0m) | ($8.0m) | ($59.0m) | ($165.0m) | ($40.0m) | ($66.0m) | $41.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | ($205.0m) | $125.0m | $475.0m | $159.0m | ($1.5b) | $2.4b | ($1.8b) | $91.0m | |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | ($1.0b) | ($1.2b) | ($205.0m) | $125.0m | $475.0m | $159.0m | ($1.5b) | $2.4b | ($1.8b) | $91.0m | |
| Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period | $2.7b | $1.4b | $1.2b | $1.4b | $1.8b | $2.0b | $468.0m | $2.9b | $1.1b | $1.2b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $1.2b | $1.4b | $1.8b | $2.0b | $468.0m | $2.9b | $1.1b | $1.2b | |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | ($215.0m) | $53.0m | ($116.0m) | ($32.0m) | ($8.0m) | ($59.0m) | ($165.0m) | ($40.0m) | ($66.0m) | $41.0m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $1.5b | $1.5b | $1.3b | $1.6b | $1.6b | $1.5b | $1.4b | $2.2b | $3.2b | $2.7b | |
| Income Taxes Paid, Net | $2.5b | $2.5b | $3.7b | $3.7b | $3.2b | $7.4b | $7.9b | $3.1b | $3.6b | $4.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.