XML 146 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments Narrative (Detail) (USD $)
12 Months Ended 3 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Nov. 08, 2010
Teuto [Member]
Dec. 31, 2009
ViiV [Member]
Dec. 31, 2009
ViiV [Member]
Aug. 01, 2011
Capsugel [Member]
Dec. 31, 2011
Parent Company [Member]
ViiV [Member]
Dec. 31, 2011
GlaxoSmithKline Plc [Member]
ViiV [Member]
Dec. 31, 2009
Wyeth [Member]
Dec. 31, 2009
Wyeth [Member]
Oct. 15, 2009
Wyeth [Member]
Dec. 31, 2009
Wyeth [Member]
Pro Forma Consolidated Results [Member]
Dec. 31, 2011
King [Member]
Feb. 28, 2011
King [Member]
Jan. 31, 2011
King [Member]
Dec. 31, 2011
King [Member]
Pro Forma Consolidated Results [Member]
Dec. 31, 2010
King [Member]
Pro Forma Consolidated Results [Member]
Nov. 30, 2011
Excaliard [Member]
Sep. 20, 2011
Icagen [Member]
Dec. 31, 2011
FoldRx [Member]
Oct. 06, 2010
FoldRx [Member]
Significant Acquisitions, Discontinued Operations, Collaborative Arrangements and Equity Method Investments [Line Items]                                            
Acquisition Purchase Price                       $ 68,236,000,000             $ 174,000,000     $ 400,000,000
Acquisition purchase price paid                               3,300,000,000     86,000,000     200,000,000
Cash consideration per common share                       $ 33.00                    
Contingent consideration, estimated acquisition date fair value                                     88,000,000     200,000,000
Exchange ratio                       0.985                    
Business combination contingent consideration arrangements fair value                                     230,000,000   85,000,000 455,000,000
Merger consideration - price per share                       $ 17.40 [1],[2]                    
Identifiable intangible assets-in process research and development acquired                       13,822,000,000       303,000,000 [3]     257,000,000 19,000,000   500,000,000
Total merger consideration, per share                       $ 50.40                    
Goodwill Acquired 45,067,000,000 43,928,000,000 [4] 42,357,000,000 [4]                 22,117,000,000 [5]       765,000,000 [3],[6]           60,000,000
Gross contractual amount receivable                       4,200,000,000       200,000,000            
Gross contractual amount receivable, estimated uncollectible                       140,000,000                    
Liabilities for environmental matters                       570,000,000                    
Liabilities for legal contingencies                       1,300,000,000                    
Additional adjustments for legal matters                       260,000,000                    
Net liabilities for income taxes                       23,700,000,000                    
Uncertain tax positions                       1,800,000,000                    
Accrued interest, included taxes from acquisition                       300,000,000                    
Additional adjustments for tax impact of fair value adjustments                       14,400,000,000                    
Additional adjustments intended to be resolved in manner different from what was planned or intended                       10,500,000,000                    
Elimination of intangible asset amortization                         88,000,000       6,000,000 116,000,000        
Additional amortization of intangible assets                         2,400,000,000       15,000,000 190,000,000        
Additional depreciation expense                         200,000,000       3,000,000 35,000,000        
Additional interest expense                         316,000,000                  
Interest income reduction                         320,000,000                  
Reduction interest expense                         129,000,000                  
Purchase accounting adjustment for estimated sales of acquisition-date inventory at fair value                         904,000,000       (160,000,000) 160,000,000        
Adjustment for acquisition-related costs                         834,000,000       (224,000,000) 224,000,000        
Effective income tax rate for incremental debt                     38.30%                      
Effective income tax rate on elimination of acquisition costs                     28.40%                      
Acquisition purchase price per share                             $ 14.25 $ 14.25            
Ownership of outstanding shares                               92.50%       70.00%    
Payments to acquire businesses, net of cash acquired 3,282,000,000 273,000,000 43,123,000,000                     3,200,000,000                
Total consideration transferred                       68,236,000,000   3,555,000,000   3,555,000,000 [3]            
Revenues                   3,303,000,000 [7]       1,300,000,000                
Sale price for discontinued operation             2,400,000,000                              
Payment in milestones to a collaboration partner 61,000,000                                          
Equity stake acquired, ownership percent       40.00%       15.00% 85.00%                          
Equity stake acquired, amount invested       230,000,000                                    
Equity interest in ViiV, Varying, minimum               9.00% 69.50%                          
Performance-based milestone payment       200,000,000                                    
Equity interest in ViiV, Varying, maximum               30.50% 91.00%                          
Option to acquire remaining ownership percent       60.00%                                    
Recognized a gain in connection with the formation of ViiV Healthcare Limited     482,000,000 [8]   482,000,000                                  
Pfizer's share of gain with formation           $ 72,000,000                                
Discount rate         11.00%                                  
Investment Not Readily Marketable Terminal Year Growth Rate         3.00%                                  
[1] The fair value of Pfizer's common stock used in the conversion calculation represents the closing market price of Pfizer's common stock on the acquisition date.
[2] Approximately 1.3 billion shares of Pfizer common stock, previously held as Pfizer treasury stock, were issued to former Wyeth shareholders. The excess of the average cost of Pfizer treasury stock issued over the fair value of the stock portion of the consideration transferred to acquire Wyeth was recorded as a reduction to Retained earnings.
[3] Measurement period adjustments were not significant and did not have a significant impact on our earnings, balance sheets or cash flows in any interim period in 2011 and, therefore, we did not retrospectively adjust our interim financial statements.
[4] Beginning in the first quarter of 2011, our Company is managed through five operating segments, as shown in the table above (see also Note 18. Segment, Product and Geographic Area Information for further discussion about the change in management approach). As part of the change, we have retrospectively presented goodwill according to the new operating segment structure.
[5] Goodwill recognized as of the acquisition date totaled $19.3 billion for our three biopharmaceutical operating segments and $2.8 billion for our Animal Health and Consumer Healthcare and our Nutrition operating segments. (Since the acquisition of Wyeth, we have revised our operating segments. See Note 18A. Segment, Geographic and Other Revenue Information: Segment Information.)
[6] Goodwill recorded as of the acquisition date totaled $720 million for our three biopharmaceutical operating segments and $45 million for our Animal Health and Consumer Healthcare operating segment. (Since the acquisition of King, we have revised our operating segments. See Note 18A. Segment, Geographic and Other Revenue Information: Segment Information.)
[7] The results of Wyeth are included from the acquisition date of October 15, 2009.
[8] Represents a gain related to ViiV, an equity method investment, which is focused solely on research, development and commercialization of HIV medicines (see Note 2F. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments).