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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Jul. 03, 2022
Jul. 04, 2021
Income Statement [Abstract]        
Revenues [1] $ 27,742 $ 18,899 $ 53,402 $ 33,415
Costs and expenses:        
Cost of sales [2] 8,648 6,996 18,632 11,153
Selling, informational and administrative expenses [2] 3,048 2,923 5,642 5,700
Research and development expenses [2] 2,815 2,239 5,116 4,233
Acquired in-process research and development expenses [3] 1 219 356 238
Amortization of intangible assets 822 917 1,657 1,776
Restructuring charges and certain acquisition-related costs 189 (1) 381 21
Other (income)/deductions––net 772 (1,343) 1,122 (2,347)
Income from continuing operations before provision/(benefit) for taxes on income [4] 11,447 6,949 20,497 12,641
Provision/(benefit) for taxes on income 1,570 1,123 2,742 1,931
Income from continuing operations 9,877 5,825 17,756 10,710
Discontinued operations––net of tax 34 (236) 26 (235)
Net income before allocation to noncontrolling interests 9,911 5,589 17,781 10,475
Less: Net income attributable to noncontrolling interests 6 26 12 35
Net income attributable to Pfizer Inc. common shareholders $ 9,906 $ 5,563 $ 17,769 $ 10,440
Earnings per common share––basic:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) $ 1.76 $ 1.04 $ 3.17 $ 1.91
Discontinued operations––net of tax (in dollars per share) 0.01 (0.04) 0 (0.04)
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) 1.77 0.99 3.17 1.87
Earnings per common share––diluted:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) 1.73 1.02 3.09 1.88
Discontinued operations––net of tax (in dollars per share) 0.01 (0.04) 0 (0.04)
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) $ 1.73 $ 0.98 $ 3.10 $ 1.84
Weighted-average shares––basic 5,593 5,598 5,605 5,591
Weighted-average shares––diluted 5,712 5,678 5,735 5,670
[1] On December 31, 2021, we completed the sale of our Meridian subsidiary. Prior to its sale, Meridian was managed as part of the Hospital therapeutic area. Beginning in the fourth quarter of 2021, the financial results of Meridian were reflected as discontinued operations. Prior-period financial information has been restated, as appropriate. See Note 1A.
[2] Exclusive of amortization of intangible assets.
[3] See Note 1D.
[4] Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income from our investment in ViiV of $69 million in the second quarter of 2022 and $62 million in the second quarter of 2021, and $125 million in the first six months of 2022 and $89 million in the first six months of 2021.