The impacts of the adjustments on our condensed consolidated financial statements are summarized as follows:

Three Months Ended

October 3, 2021

September 27, 2020

(MILLIONS, EXCEPT PER COMMON SHARE DATA)

Previous
Accounting
Principle

Impact of Change

As Reported

Previous Accounting Principle

Impact of Change

As Adjusted

Condensed Consolidated Statements of Income:

Other (income)/deductions––net

$

(641)

$

(1,055)

$

(1,696)

$

889

$

989

$

1,878

Income from continuing operations before provision/(benefit) for taxes on income

6,782

1,055

7,836

1,559

(989)

570

Provision/(benefit) for taxes on income

(561)

230

(331)

(104)

(243)

(347)

Income/(loss) from discontinued operations––net of tax

(9)

—

(9)

539

21

560

Net income before allocation to noncontrolling interests

7,334

825

8,159

2,202

(724)

1,477

Net income attributable to Pfizer Inc. common shareholders

7,322

825

8,146

2,194

(724)

1,469

Earnings per common share––basic:

Income from continuing operations attributable to Pfizer Inc. common shareholders

$

1.30

$

0.15

$

1.45

$

0.30

$

(0.13)

$

0.16

Income/(loss) from discontinued operations––net of tax

—

0.10

—

0.10

Net income attributable to Pfizer Inc. common shareholders

1.30

0.15

1.45

0.39

(0.13)

0.26

Earnings per common share––diluted:

Income from continuing operations attributable to Pfizer Inc. common shareholders

$

1.27

$

0.15

$

1.42

$

0.29

$

(0.13)

$

0.16

Income/(loss) from discontinued operations––net of tax

—

0.10

—

0.10

Net income attributable to Pfizer Inc. common shareholders

1.27

0.15

1.42

0.39

(0.13)

0.26

Condensed Consolidated Statements of Comprehensive Income:

Foreign currency translation adjustments, net

$

(961)

$

95

$

(866)

$

1,609

$

(206)

$

1,403

Benefit plans: actuarial gains/(losses), net

836

(836)

—

(1,211)

1,211

—

Reclassification adjustments related to amortization

74

(74)

—

67

(67)

—

Reclassification adjustments related to settlements, net

139

(139)

—

174

(174)

—

Other

95

(95)

—

(206)

206

—

Tax provision/(benefit) on other comprehensive income/(loss)

(89)

23

(65)

(262)

243

(19)

Nine Months Ended

October 3, 2021

September 27, 2020

(MILLIONS, EXCEPT PER COMMON SHARE DATA)

Previous
Accounting
Principle

Impact of Change

As Reported

Previous Accounting Principle

Impact of Change

As Adjusted

Condensed Consolidated Statements of Income:

Other (income)/deductions––net

$

(2,414)

$

(1,283)

$

(3,697)

$

232

$

881

$

1,114

Income from continuing operations before provision/(benefit) for taxes on income

18,845

1,283

20,128

7,320

(881)

6,438

Provision/(benefit) for taxes on income

1,237

281

1,518

647

(213)

434

Income/(loss) from discontinued operations––net of tax

24

—

24

2,374

(40)

2,334

Net income before allocation to noncontrolling interests

17,631

1,002

18,633

9,046

(709)

8,338

Net income attributable to Pfizer Inc. common shareholders

17,584

1,002

18,586

9,022

(709)

8,313

Earnings per common share––basic:

Income from continuing operations attributable to Pfizer Inc. common shareholders

$

3.14

$

0.18

$

3.32

$

1.20

$

(0.12)

$

1.08

Income/(loss) from discontinued operations––net of tax

—

0.43

(0.01)

0.42

Net income attributable to Pfizer Inc. common shareholders

3.14

0.18

3.32

1.62

(0.13)

1.50

Earnings per common share––diluted:

Income from continuing operations attributable to Pfizer Inc. common shareholders

$

3.08

$

0.18

$

3.26

$

1.18

$

(0.12)

$

1.06

Income/(loss) from discontinued operations––net of tax

—

0.42

(0.01)

0.42

Net income attributable to Pfizer Inc. common shareholders

3.09

0.18

3.27

1.60

(0.13)

1.48