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Other Financial Information
 3 Months Ended
Apr. 02, 2023
Other Financial Information [Abstract]  
Other Financial Information Other Financial Information
A. Inventories
The following summarizes the components of Inventories:
(MILLIONS)April 2,
2023		December 31, 2022
Finished goods$2,657 $2,603 
Work-in-process6,129 5,519 
Raw materials and supplies755 859 
Inventories(a)
$9,541 $8,981 
Noncurrent inventories not included above(b)
$5,616 $5,827 
(a)The increase from December 31, 2022 reflects higher inventory levels for Paxlovid and increases for certain products due to supply recovery and inventory build, partially offset by decreases due to market demand.
(b)Included in Other noncurrent assets. Based on our current estimates and assumptions, there are no recoverability issues for these amounts, which are primarily related to Paxlovid.
B. Other Current Liabilities
Other current liabilities includes, among other things, amounts payable to BioNTech for the gross profit split for Comirnaty, which totaled $4.7 billion as of April 2, 2023 and $5.2 billion as of December 31, 2022.
C. Supplier Finance Program Obligation
We maintain voluntary supply chain finance agreements with several participating financial institutions. Under these agreements, participating suppliers may voluntarily elect to sell their accounts receivable with Pfizer to these financial institutions. Our suppliers negotiate their financing agreements directly with the respective financial institutions and we are not a party to these agreements. We have no economic interest in our suppliers’ decision to participate and we pay the financial institutions the stated amount of confirmed invoices on the original maturity dates, which is generally within 90 to 120 days of
the invoice date. The agreements with the financial institutions do not require Pfizer to provide assets pledged as security or other forms of guarantees for the supplier finance program. All outstanding amounts related to suppliers participating in such financing arrangements are recorded within trade payables in our consolidated balance sheet. As of April 2, 2023 and December 31, 2022, respectively, $755 million and $849 million of our trade payables to suppliers who participate in these financing arrangements are outstanding.