Paying users zone. Data is hidden behind: .
Get 1-month access to Pfizer Inc. for $19.99, or
get full access to the entire website for at least 3 months from $49.99.
We accept:
This is a one-time payment. There is no automatic renewal.
Pfizer Inc. pages available today for free:
Analysis of Operating Leases
An operating lease is treated like a rental contract. Neither the leased asset nor the associated liability is reported on the lessee balance sheet, but the rights may be very similar to the rights of an owner. The lessee only records the lease payments as a rental expense in income statement.
Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)
Pfizer Inc., future operating lease payments (before adoption of FASB Topic 842)
US$ in millions
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Total undiscounted future operating lease payments | ||||||
| Discount rate1 | ||||||
| Total present value of future operating lease payments | ||||||
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
1 Weighted-average interest rate for Pfizer Inc.’s debt
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2019 | 2019 | |||
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 | 2022 | |||
| 2023 | 2023 | |||
| 2024 and thereafter | 2024 | |||
| 2025 | ||||
| 2026 | ||||
| 2027 | ||||
| 2028 | ||||
| 2029 | ||||
| 2030 | ||||
| 2031 | ||||
| 2032 | ||||
| Total: |
Based on: 10-K (filing date: 2019-02-28).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2018 | 2018 | |||
| 2019 | 2019 | |||
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 | 2022 | |||
| 2023 and thereafter | 2023 | |||
| 2024 | ||||
| 2025 | ||||
| 2026 | ||||
| 2027 | ||||
| 2028 | ||||
| 2029 | ||||
| 2030 | ||||
| Total: |
Based on: 10-K (filing date: 2018-02-22).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2017 | 2017 | |||
| 2018 | 2018 | |||
| 2019 | 2019 | |||
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 and thereafter | 2022 | |||
| 2023 | ||||
| 2024 | ||||
| 2025 | ||||
| 2026 | ||||
| 2027 | ||||
| 2028 | ||||
| 2029 | ||||
| Total: |
Based on: 10-K (filing date: 2017-02-23).
Adjustments to Financial Statements for Operating Leases
Pfizer Inc., adjustments to financial statements
US$ in millions
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
1, 2 Equal to total present value of future operating lease payments.
Pfizer Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios for Operating Leases (Summary)
Pfizer Inc., adjusted financial ratios
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Pfizer Inc.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Adjusted debt to equity | A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. | Pfizer Inc.’s adjusted debt to equity ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Pfizer Inc.’s adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Pfizer Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
2020 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Pfizer Inc.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted Debt to Equity
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
2020 Calculations
1 Debt to equity = Total debt ÷ Total Pfizer Inc. shareholders’ equity
= ÷ =
2 Adjusted debt to equity = Adjusted total debt ÷ Total Pfizer Inc. shareholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted debt-to-equity | A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. | Pfizer Inc.’s adjusted debt-to-equity ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23).
2020 Calculations
1 ROA = 100 × Net income attributable to Pfizer Inc. ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Net income attributable to Pfizer Inc. ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Pfizer Inc.’s adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |