XML 35 R21.htm IDEA: XBRL DOCUMENT v3.4.0.3
Acquisitions, Research and Development and Collaborative Arrangements, and Equity-Method Investments (Tables)
 3 Months Ended
Apr. 03, 2016
Business Combinations, Discontinued Operations And Disposal Groups, Collaborative Arrangements And Equity Method Investments [Abstract]  
Schedule of Amounts Recognized for Assets Acquired and Liabilities Assumed
The following table summarizes the provisional amounts recognized for assets acquired and liabilities assumed as of the acquisition date, as well as adjustments made in the first quarter of 2016 to the provisional amounts initially recorded in 2015 (measurement period adjustments) with a corresponding change to goodwill. Certain estimated values are not yet finalized (see below) and are subject to change, which could be significant. We will finalize the amounts recognized as we obtain the information necessary to complete the analyses, but no later than one year from the acquisition date.
(MILLIONS OF DOLLARS)
 
Amounts Recognized
as of Acquisition Date (as previously reported as of December 31, 2015)

 
Measurement Period Adjustments

 
Amounts Recognized as of Acquisition Date (as adjusted)

Working capital, excluding inventories
 
$
274

 
$
(6
)
 
$
268

Inventories
 
1,924

 
(16
)
 
1,908

Property, plant and equipment(a)
 
2,410

 
(53
)
 
2,357

Identifiable intangible assets, excluding in-process research and development(a)
 
8,270

 
65

 
8,335

In-process research and development
 
995

 
5

 
1,000

Other noncurrent assets
 
408

 
(46
)
 
362

Long-term debt
 
(1,928
)
 
—

 
(1,928
)
Benefit obligations
 
(117
)
 
—

 
(117
)
Net income tax accounts
 
(3,394
)
 
25

 
(3,369
)
Other noncurrent liabilities
 
(39
)
 
—

 
(39
)
Total identifiable net assets
 
8,803

 
(25
)
 
8,778

Goodwill
 
7,284

 
25

 
7,309

Net assets acquired/total consideration transferred
 
$
16,087

 
$
—

 
$
16,087

(a) 
The measurement period adjustments for Identifiable intangible assets reflect changes in the estimated fair value of acquired finite-lived developed technology rights. The measurement period adjustments for Property, plant and equipment primarily reflect changes in the estimated fair value of acquired buildings and machinery and equipment. The changes in the estimated fair values for identifiable intangible assets and property, plant and equipment are primarily to better reflect market participant assumptions about facts and circumstances existing as of the acquisition date. The measurement period adjustments did not result from intervening events subsequent to the acquisition date.
Summary of Pro Forma Information
The following table provides supplemental pro forma information as if the acquisition of Hospira had occurred on January 1, 2014:
 
 
Unaudited Supplemental Pro Forma Consolidated Results
 
 
Three Months Ended
(MILLIONS OF DOLLARS, EXCEPT PER SHARE DATA)
 
March 29,
2015

Revenues
 
$
12,039

Net income attributable to Pfizer Inc. common shareholders
 
2,375

Diluted earnings per share attributable to Pfizer Inc. common shareholders
 
0.38