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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Sep. 29, 2019
Sep. 30, 2018
Statement of Comprehensive Income [Abstract]        
Net income before allocation to noncontrolling interests [1],[2],[3],[4] $ 7,684 $ 4,122 $ 16,628 $ 11,571
Foreign currency translation adjustments, net [4] (468) (567) (628) (507)
Reclassification adjustments [4],[5] 268 (2) 270 (22)
Other comprehensive income (loss), foreign currency transaction and translation adjustment, before tax [4] (200) (569) (358) (530)
Unrealized holding gains on derivative financial instruments, net [4] 150 222 241 236
Reclassification adjustments for (gains)/losses included in net income [4],[6] (29) (235) (372) 119
Other comprehensive income (loss), derivatives qualifying as hedges, before tax, total [4] 122 (13) (131) 355
Unrealized holding gains/(losses) on available-for-sale securities, net [4] 15 149 48 (65)
Reclassification adjustments for (gains)/losses included in net income [4],[6] (7) (36) 30 (67)
Reclassification adjustments for unrealized gains included in Retained earnings [4],[7] 0 0 0 (462)
Other comprehensive income (loss), available-for-sale securities, before tax, total [4] 8 112 77 (595)
Benefit plans: actuarial gains/(losses), net [4] (171) 8 (175) 114
Reclassification adjustments related to amortization [4] 60 60 180 183
Reclassification adjustments related to settlements, net [4] 38 42 40 108
Other [4] 42 49 60 69
Defined benefit plan, amounts recognized in other comprehensive income (loss), net gain (loss), before tax, total [4] (31) 158 105 474
Benefit plans: prior service costs and other, net [4] 0 0 (1) 0
Reclassification adjustments related to amortization of prior service costs and other, net [4] (44) (46) (137) (137)
Reclassification adjustments related to curtailments of prior service costs and other, net [4] (46) (4) (46) (18)
Other [4] 3 0 4 1
Defined benefit plan, amounts recognized in other comprehensive income (loss), net prior service cost, before tax [4] (88) (50) (180) (154)
Other comprehensive loss, before tax [4] (190) (361) (486) (449)
Tax provision on other comprehensive loss [4] 84 62 50 667
Other comprehensive loss before allocation to noncontrolling interests [2],[4] (275) (422) (536) (1,116)
Comprehensive income before allocation to noncontrolling interests [4] 7,409 3,700 16,092 10,455
Less: Comprehensive income/(loss) attributable to noncontrolling interests [4] (6) 0 8 5
Comprehensive income attributable to Pfizer Inc. [4] $ 7,415 $ 3,700 $ 16,084 $ 10,450
[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]
Amounts may not add due to rounding.
[5]
For the third quarter and first nine months of 2019, the foreign currency translation adjustments are primarily reclassified into (Gain) on completion of Consumer Healthcare JV transaction in the condensed consolidated statements of income as a result of the contribution of our Consumer Healthcare business to the Consumer Healthcare joint venture with GSK. See Note 2B. The remaining foreign currency translation adjustments are reclassified into Other (income)/deductions—net in the condensed consolidated statements of income.
[6]
Reclassified into Other (income)/deductions—net and Cost of sales in the condensed consolidated statements of income. For additional information on amounts reclassified into Other (income)/deductions—net and Cost of sales, see Note 7E. Financial Instruments: Derivative Financial Instruments and Hedging Activities.
[7]
For additional information, see Notes to Consolidated Financial Statements—Note 1B. Basis of Presentation and Significant Accounting Policies: Adoption of New Accounting Standards in 2018 in our 2018 Financial Report.