Pfizer Inc. (PFE) | Statement of Cash Flows
The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Pfizer Inc., Consolidated Statement of Cash Flows
USD $ in millions
| 12 months ended | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
|---|---|---|---|---|---|---|
| Net income before allocation to noncontrolling interests | 14,598 | 10,051 | 8,289 | 8,644 | 8,127 | |
| Depreciation and amortization | 7,611 | 9,026 | 8,487 | 4,757 | 5,090 | |
| Asset write-offs and impairment charges | 1,299 | 1,198 | 3,486 | 305 | 570 | |
| Share-based compensation expense | 481 | 419 | 405 | 349 | 384 | |
| Acquisition-related in-process research and development charges | – | – | 125 | 68 | 633 | |
| (Gain) loss on disposals | – | 15 | (155) | (670) | (14) | |
| (Gain) loss on sales of discontinued operations | (7,123) | (1,688) | – | – | (6) | |
| Deferred taxes from continuing operations | 739 | 264 | 1,953 | (9,582) | (1,331) | |
| Deferred taxes on discontinued operations | 1,459 | 190 | – | – | – | |
| Benefit plan contributions (in excess of) less than expense | 135 | (1,775) | (691) | 545 | (49) | |
| Other non-cash adjustments, net | (203) | (189) | (19) | 199 | (74) | |
| Accounts receivable | 275 | (66) | (608) | 252 | 195 | |
| Inventories | (631) | 1,084 | 2,917 | 1,631 | 294 | |
| Other assets | 83 | 582 | (896) | (867) | (538) | |
| Accounts payable | 579 | – | – | – | – | |
| Other liabilities | (3,438) | 1,147 | 827 | 1,502 | 4,310 | |
| Other tax accounts, net | 1,190 | (18) | (12,666) | 9,454 | 647 | |
| Changes in assets and liabilities, net of acquisitions and divestitures | (1,942) | 2,729 | (10,426) | 11,972 | 4,908 | |
| Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities | 2,456 | 10,189 | 3,165 | 7,943 | 10,111 | |
| Net cash provided by operating activities | 17,054 | 20,240 | 11,454 | 16,587 | 18,238 | |
| Purchases of property, plant and equipment | (1,327) | (1,660) | (1,513) | (1,205) | (1,701) | |
| Purchases of short-term investments | (24,018) | (18,428) | (10,931) | (35,331) | (35,705) | |
| Proceeds from redemptions and sales of short-term investments | 25,302 | 13,615 | 4,543 | 42,364 | 27,883 | |
| Net proceeds from redemptions and sales of short-term investments with original maturities of 90 days or less | 1,459 | 10,874 | 5,950 | 5,775 | 7,913 | |
| Purchases of long-term investments | (11,145) | (4,063) | (3,920) | (6,888) | (9,357) | |
| Proceeds from redemptions and sales of long-term investments | 4,990 | 2,147 | 4,381 | 6,504 | 1,009 | |
| Proceeds from redemptions of short-term loans | – | 561 | 1,156 | 1,158 | 625 | |
| Issuances of short-term loans | – | (19) | (151) | (565) | (449) | |
| Proceeds from redemptions of long-term loans | – | – | 356 | – | 55 | |
| Issuances of long-term loans | – | (200) | (208) | (61) | (501) | |
| Acquisitions, net of cash acquired | (1,050) | (3,282) | (273) | (43,123) | (1,184) | |
| Proceeds from sale of business | 11,850 | 2,376 | – | – | – | |
| Other investing activities | 93 | 279 | 118 | 100 | (1,423) | |
| Net cash (used in) provided by investing activities | 6,154 | 2,200 | (492) | (31,272) | (12,835) | |
| Proceeds from short-term borrowings | 7,995 | 12,810 | 6,400 | 31,159 | 40,119 | |
| Principal payments on short-term borrowings | (3) | (3,826) | (9,249) | (34,969) | (37,264) | |
| Net proceeds (payments) on short-term borrowings with original maturities of 90 days or less | (8,204) | (7,540) | (1,297) | 874 | – | |
| Proceeds from issuances of long-term debt | – | 1 | – | 24,023 | 605 | |
| Principal payments on long-term debt | (1,513) | (6,986) | (6) | (967) | (1,053) | |
| Purchases of common stock | (8,228) | (9,000) | (1,000) | – | (500) | |
| Cash dividends paid | (6,534) | (6,234) | (6,088) | (5,548) | (8,541) | |
| Other financing activities | 488 | 168 | 66 | (91) | 74 | |
| Net cash provided by (used in) financing activities | (15,999) | (20,607) | (11,174) | 14,481 | (6,560) | |
| Effect of exchange-rate changes on cash and cash equivalents | (2) | (29) | (31) | 60 | (127) | |
| Net increase (decrease) in cash and cash equivalents | 7,207 | 1,804 | (243) | (144) | (1,284) | |
| Cash and cash equivalents, beginning | 3,182 | 1,735 | 1,978 | 2,122 | 3,406 | |
| Cash and cash equivalents, ending | 10,389 | 3,539 | 1,735 | 1,978 | 2,122 |
| Item | Description | The company |
|---|---|---|
| Net cash provided by operating activities | The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. | Pfizer Inc.'s net cash provided by operating activities increased from 2010 to 2011 but then slightly declined from 2011 to 2012. |
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