CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)		Jun. 30, 2021 USD ($)
Operating Activities
Net income before allocation to noncontrolling interests	$ 1,123		$ 1,069
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization expense	231	[1],[2]	221	[1],[2]
Share-based compensation expense	31		29
Asset write-offs and asset impairments	2		14
Net loss on sale of assets	0		(3)
Provision for losses on inventory	31		25
Deferred taxes	(76)		(24)
Employee benefit plan contribution from Pfizer Inc.	1		1
Other non-cash adjustments	13		7
Other changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable	(182)		(149)
Inventories	(312)		(206)
Other assets	(34)		(36)
Accounts payable	(6)		(91)
Other liabilities	(206)		21
Other tax accounts, net	29		(3)
Net cash provided by operating activities	645		881
Investing Activities
Capital expenditures	(261)		(190)
Acquisitions	(93)		(14)
Purchase of investments	(7)		0
Settlement on swaps designated as net investment hedges	40		2
Net cash used in investing activities	(321)		(202)
Financing Activities
Increase in short-term borrowings, net	2		0
Payment of consideration related to previous acquisitions	0		(5)
Share-based compensation-related proceeds, net of taxes paid on withholding shares	(38)		(39)
Purchases of treasury stock	(812)		(347)
Cash dividends paid	(307)		(238)
Net cash used in financing activities	(1,155)		(629)
Effect of exchange-rate changes on cash and cash equivalents	(2)		4
Net (decrease)/increase in cash and cash equivalents	(833)		54
Cash and cash equivalents at beginning of period	3,485		3,604
Cash and cash equivalents at end of period	2,652		3,658
Cash paid during the period for:
Income taxes	316		315
Interest, net of capitalized interest	121		127
Amounts included in the measurement of lease liabilities	25		23
Non-cash transactions:
Capital expenditures	5		4
Lease obligations obtained in exchange for right-of-use assets	41		$ 7
Dividends declared, not paid	$ 153

[1] Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.

[2] Defined as income before provision for taxes on income.