XML 21 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
Sep. 27, 2020
Sep. 29, 2019
Income Statement [Abstract]        
Revenues $ 12,131 $ 12,680 $ 35,961 $ 39,062
Costs and expenses:        
Cost of sales [1] 2,529 2,602 7,188 7,611
Selling, informational and administrative expenses [1] 3,016 3,260 8,919 10,110
Research and development expenses [1] 2,360 2,283 6,216 5,827
Amortization of intangible assets 898 1,212 2,688 3,578
Restructuring charges and certain acquisition-related costs 4 365 435 295
(Gain) on completion of Consumer Healthcare JV transaction 0 (8,087) (6) (8,087)
Other (income)/deductions––net 1,148 319 507 537
Income from continuing operations before provision/(benefit) for taxes on income [2] 2,176 10,727 10,014 19,190
Provision/(benefit) for taxes on income (26) 3,047 968 2,566
Income from continuing operations 2,202 7,680 9,046 16,625
Discontinued operations––net of tax 0 4 0 4
Net income before allocation to noncontrolling interests 2,202 7,684 9,046 16,628
Less: Net income attributable to noncontrolling interests 8 4 25 19
Net income attributable to Pfizer Inc. $ 2,194 $ 7,680 $ 9,022 $ 16,609
Earnings per common share––basic:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) $ 0.39 $ 1.38 $ 1.62 $ 2.98
Discontinued operations––net of tax (in dollars per share) 0 0 0 0
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) 0.39 1.38 1.62 2.98
Earnings per common share––diluted:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) 0.39 1.36 1.60 2.92
Discontinued operations––net of tax (in dollars per share) 0 0 0 0
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) $ 0.39 $ 1.36 $ 1.60 $ 2.92
Weighted-average shares––basic 5,557 5,545 5,552 5,581
Weighted-average shares––diluted 5,633 5,649 5,622 5,690
[1] Excludes amortization of intangible assets, except as disclosed in Note 9A and Notes to Consolidated Financial Statements––Note 1L. Basis of Presentation and Significant Accounting Policies: Amortization of Intangible Assets, Depreciation and Certain Long-Lived Assets in our 2019 Financial Report.
[2] Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income of $44 million in the third quarter of 2020 and $43 million in the third quarter of 2019, and $196 million in the first nine months of 2020 and $184 million in the first nine months of 2019 from our investment in ViiV. See Note 4.