Free Cash Flow to Equity (FCFE)
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Pfizer Inc., FCFE calculation
USD $ in millions
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Net income attributable to Pfizer Inc. | |
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Add: Net income attributable to noncontrolling interests | |
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Add: Net noncash charges | |
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Less: Changes in assets and liabilities, net of acquisitions and divestitures | |
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Net cash provided by operating activities | |
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Less: Purchases of property, plant and equipment | |
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Add: Proceeds from short-term borrowings | |
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Less: Principal payments on short-term borrowings | |
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Add: Proceeds from issuances of long-term debt | |
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Less: Principal payments on long-term debt | |
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Free cash flow to equity (FCFE) | |
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| Item | Description | The company |
|---|---|---|
| FCFE | Free cash flow to equity is the cash flow available to Pfizer Inc.'s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | Pfizer Inc.'s FCFE declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |