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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Oct. 01, 2017
Operating Activities    
Net income before allocation to noncontrolling interests [1],[2],[3] $ 11,571 $ 9,066
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities:    
Depreciation and amortization [1] 4,743 4,695
Asset write-offs and impairments [1] 88 326
Adjustments to loss on sale of HIS net assets [1],[4] (1) 52
TCJA impact (410) 0 [1],[5]
Deferred taxes from continuing operations [1] (974) 241
Share-based compensation expense [1] 682 595
Benefit plan contributions in excess of income––2018 and expense––2017 [1] (1,000) (1,042)
Other adjustments, net [1] (1,169) (604)
Other changes in assets and liabilities, net of acquisitions and divestitures [1] (2,441) (3,616)
Net cash provided by operating activities [1] 11,089 9,713
Investing Activities    
Purchases of property, plant and equipment [1] (1,357) (1,256)
Purchases of short-term investments [1] (7,364) (6,469)
Proceeds from redemptions/sales of short-term investments [1] 12,752 5,778
Net proceeds from redemptions/sales of short-term investments with original maturities of three months or less [1] 385 2,758
Purchases of long-term investments [1] (1,503) (2,526)
Proceeds from redemptions/sales of long-term investments [1] 2,174 2,403
Acquisitions of businesses, net of cash acquired [1] 0 (1,000)
Acquisitions of intangible assets [1] (47) (188)
Other investing activities, net [1] 248 519
Net cash provided by investing activities [1] 5,289 19
Financing Activities    
Proceeds from short-term borrowings [1] 1,945 7,003
Principal payments on short-term borrowings [1] (4,239) (7,659)
Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less [1] (973) 566
Proceeds from issuance of long-term debt [1] 4,974 5,273
Principal payments on long-term debt [1] (3,104) (4,474)
Purchases of common stock [1] (7,168) (5,000)
Cash dividends paid [1] (6,015) (5,750)
Proceeds from exercise of stock options [1] 1,099 656
Other financing activities, net [1] (553) (223)
Net cash used in financing activities [1] (14,034) (9,607)
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents [1] (116) 67
Net increase in cash and cash equivalents and restricted cash and cash equivalents [1] 2,227 193
Cash and cash equivalents and restricted cash and cash equivalents, beginning [1] 1,431 2,666
Cash and cash equivalents and restricted cash and cash equivalents, end [1] 3,658 2,858
Non-cash transactions:    
Receipt of ICU Medical common stock [1],[6] 0 428
Promissory note from ICU Medical [1],[6] 0 75
Cash paid (received) during the period for:    
Income taxes [1] 1,666 1,424
Interest [1] 968 1,101
Interest rate hedges [1] (104) (183)
Cerevel Therapeutics [Member]    
Non-cash transactions:    
Equity investment received in exchange for Pfizer's assets [1],[6] 343 0
Allogene [Member]    
Non-cash transactions:    
Equity investment received in exchange for Pfizer's assets [1],[6] $ 92 $ 0
[1] Amounts may not add due to rounding.
[2] Amounts may not add due to rounding.
[3] Amounts may not add due to rounding.
[4] Represents adjustments to amounts previously recorded in 2016 to write down the HIS net assets to fair value less costs to sell related to the sale of HIS net assets to ICU Medical on February 3, 2017. For additional information, see Note 2B.
[5] As a result of the enactment of the TCJA in December 2017, Pfizer’s Provision for taxes on income for the nine months ended September 30, 2018 was favorably impacted by approximately $410 million, primarily related to certain tax initiatives associated with the TCJA, as well as favorable adjustments to the provisional estimates of the legislation. See Note 5A. Tax Matters: Taxes on Income from Continuing Operations.
[6] For additional information, see Note 2B. Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment: Divestitures.