Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

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 cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2023 Oct 1, 2023 Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019
Net income (loss) before allocation to noncontrolling interests (3,360) (2,376) 2,338 5,556 5,003 8,623 9,911 7,870 3,392 8,158 5,589 4,886 1,314 1,478 3,496 3,364 (326) 7,683 5,056 3,889
Discontinued operations, net of tax 25 (12) 2 (1) (2) 21 (34) 9 186 13 236 (1) (297) (561) (892) (881)
Net income (loss) from continuing operations before allocation to noncontrolling interests (3,335) (2,388) 2,340 5,555 5,001 8,644 9,877 7,879 3,578 8,171 5,825 4,885 1,017 917 2,604 2,483 (326) 7,683 5,056 3,889
Depreciation and amortization 1,670 1,560 1,573 1,487 1,519 1,183 1,175 1,187 1,335 1,341 1,308 1,207 1,204 1,208 1,199 1,166 1,384 1,553 1,528 1,545
Asset write-offs and impairments 2,909 172 57 270 263 229 27 31 183 38 31 24 1,060 931 14 44 2,729 46 23 155
TCJA impact (4) (34) (154) (131)
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed (6) (8,233)
Deferred taxes (1,858) (113) (873) (598) (365) 62 (1,140) (2,321) (683) (3,747) (66) 203 (733) (768) (49) 82 (1,453) 2,227 (100) (60)
Share-based compensation expense 121 151 148 105 364 135 287 86 496 293 221 172 288 224 187 57 270 64 199 185
Benefit plan contributions in excess of income/expense (320) (145) (122) (200) (626) (386) 258 (404) (1,190) (1,154) (406) (373) (1,030) (234) (250) (276) 93 (116) (162) (151)
Inventory write-offs and related charges associated with COVID-19 products 352 5,847 707 476
Other adjustments, net (2,749) (429) (415) 100 (723) 210 458 813 273 (542) (1,014) (291) (165) 57 (490) 120 (464) (160) (226) (236)
Other changes in assets and liabilities, net of acquisitions and divestitures 8,450 (1,199) (3,916) (5,507) 2,442 (4,585) (2,766) (730) 1,937 6,765 5,383 (1,281) 2,581 (800) (541) (1,515) 1,540 1,480 (3,553) (3,498)
Adjustments to reconcile net income (loss) before allocation to noncontrolling interests to net cash provided by operating activities 8,575 5,844 (3,548) (4,343) 3,581 (2,676) (1,701) (1,338) 2,351 2,994 5,457 (339) 3,205 618 70 (328) 4,095 (3,173) (2,445) (2,191)
Net cash provided by operating activities 5,240 3,456 (1,208) 1,212 8,582 5,968 8,176 6,541 5,929 11,165 11,282 4,546 4,222 1,535 2,674 2,155 3,769 4,510 2,611 1,698
Purchases of property, plant and equipment (1,044) (810) (914) (1,139) (1,001) (841) (751) (643) (1,002) (618) (537) (554) (839) (507) (457) (449) (672) (565) (479) (460)
Purchases of short-term investments (836) (9,132) (14,341) (6,665) (6,683) (10,764) (10,179) (8,758) (12,177) (10,298) (9,928) (6,054) (4,496) (4,168) (2,590) (2,551) (2,252) (520) (2,661) (1,402)
Proceeds from redemptions/sales of short-term investments 21,246 5,424 6,194 6,400 9,734 14,936 6,730 13,421 11,595 8,280 2,107 5,465 2,690 3,802 1,338 3,257 1,417 1,765 2,400 3,601
Net (purchases of) proceeds from redemptions/sales of short-term investments with original maturities of three months or less 11,276 5,115 (15,882) 4,665 10,394 (7,724) (6,562) 3,409 (936) (6,647) 491 (996) 249 1,208 (121) (416) (1,382) 3,590 (1,224) 5,941
Purchases of long-term investments (38) (74) (41) (51) (286) (303) (648) (676) (207) (761) (73) (27) (313) (116) (146) (22) (67) (11) (39) (84)
Proceeds from redemptions/sales of long-term investments 1,790 17 48 124 195 220 174 52 80 272 41 256 75 112 384 152 116 (26) 98 44
Acquisitions of businesses, net of cash acquired (43,405) (25) (16,772) (6,225) (10,861)
Dividends received from Consumer Healthcare JV 3,960
Other investing activities, net 15 348 (524) (19) 9 (111) (77) (13) 64 (299) (235) 164 (425) 170 15 (24) 7 (132) 3 (90)
Net cash (used in) provided by investing activities (10,996) 888 (25,485) 3,315 (4,410) (627) (11,313) 567 (2,583) (10,071) (8,134) (1,746) (3,059) 501 (1,577) (53) (2,833) (6,760) (1,902) 7,550
Proceeds from short-term borrowings 4,511 3 11 4 (125) 4,012 7,050 5,302 4,873 7,626 3,347 609
Payments on short-term borrowings (3) (3,887) (4,748) (4,283) (5,615) (7,551) (4,290) (1,713) (609) (1,766)
Net proceeds from (payments on) short-term borrowings with original maturities of three months or less 3,267 (128) (204) 226 (1,092) 491 599 (220) (361) 764 (474) (25) (5,753) 3,938 (5,521) 3,207 (53) (115) 687 2,032
Proceeds from issuance of long-term debt 30,831 997 28 3,953 1,241 4,942
Payments on long-term debt (1,300) (1,000) (269) (1,689) (1,609) (1,003) (1,001) (1,492) (330) (2,181) (1,000) (451) (2,351) (3,004)
Purchases of common stock (2,000) (8,865)
Cash dividends paid (2,315) (2,314) (2,315) (2,303) (2,245) (2,245) (2,244) (2,249) (2,189) (2,185) (2,183) (2,172) (2,112) (2,112) (2,111) (2,105) (1,992) (2,004) (2,002) (2,045)
Other financing activities, net (18) (37) (141) (436) 7 5 153 (500) 202 324 100 (610) (278) (5) (49) (113) 22 (70) 77 (370)
Net cash provided by (used in) financing activities 5,442 (3,779) 27,174 (2,771) (5,015) (5,761) 2,520 (6,578) (3,351) (1,101) (2,557) (2,807) (14,383) (2,764) (2,293) (2,200) (2,440) 3,273 (851) (8,467)
Net cash provided by (used in) operating activities from discontinued operations 5 (5) (15) (336) 17 (8) 1,403 555 881 978
Net cash used in investing activities from discontinued operations (3) (5) (4) 11,389 (20) (11,433) (19)
Net cash provided by financing activities from discontinued operations 596 (57) 11,452
Net cash provided by (used in) discontinued operations 5 (5) (18) (341) 13 (8) 13,388 478 900 959
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents (2) (30) (6) (2) (26) (72) (66) (1) (27) (36) 4 30 32 (55) (15) 9 (15) (38) 11
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (316) 535 475 1,754 (869) (487) (688) 529 (50) (384) 608 (15) 198 (218) (351) 846 (1,495) 1,008 (180) 792

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Pfizer Inc. net cash provided by operating activities increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Pfizer Inc. net cash (used in) provided by investing activities increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Pfizer Inc. net cash provided by (used in) financing activities decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.