Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Pfizer Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Short-term borrowings, including current portion of long-term debt	6,946)	10,350)	2,945)	2,241)	2,703)
Trade accounts payable	5,633)	6,710)	6,809)	5,578)	4,309)
Dividends payable	2,437)	2,372)	2,303)	2,249)	2,162)
Income taxes payable	2,910)	2,349)	1,587)	1,266)	1,049)
Accrued compensation and related items	3,838)	2,776)	3,407)	3,332)	3,058)
Deferred revenues	1,511)	2,700)	2,520)	3,067)	1,113)
Other current liabilities	19,720)	20,537)	22,567)	24,938)	11,526)
Current liabilities	42,995)	47,794)	42,138)	42,671)	25,920)
Long-term debt, excluding current portion	57,405)	61,538)	32,884)	36,195)	37,133)
Pension and postretirement benefit obligations	2,115)	2,167)	2,250)	3,724)	5,411)
Noncurrent deferred tax liabilities	2,122)	640)	1,023)	349)	4,063)
Other taxes payable	6,112)	8,534)	9,812)	11,331)	11,560)
Other noncurrent liabilities	14,150)	16,540)	13,181)	9,743)	6,669)
Noncurrent liabilities	81,904)	89,419)	59,150)	61,342)	64,836)
Total liabilities	124,899)	137,213)	101,288)	104,013)	90,756)
Common stock, $0.05 par value	480)	478)	476)	473)	470)
Additional paid-in capital	93,603)	92,631)	91,802)	90,591)	88,674)
Treasury stock, shares at cost	(114,763)	(114,487)	(113,969)	(111,360)	(110,988)
Retained earnings	116,725)	118,353)	125,656)	103,394)	96,770)
Accumulated other comprehensive loss	(7,842)	(7,961)	(8,304)	(5,897)	(11,688)
Total Pfizer Inc. shareholders’ equity	88,203)	89,014)	95,661)	77,201)	63,238)
Equity attributable to noncontrolling interests	294)	274)	255)	261)	235)
Total equity	88,497)	89,288)	95,916)	77,462)	63,473)
Total liabilities and equity	213,396)	226,501)	197,204)	181,475)	154,229)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Short-term Borrowings: Short-term borrowings showed fluctuation with a decrease from 2703 million in 2020 to 2241 million in 2021, followed by an increase peaking at 10350 million in 2023 before declining to 6946 million in 2024. This indicates a significant rise in short-term financing in 2023.
Trade Accounts Payable: Trade accounts payable increased steadily from 4309 million in 2020 to 6809 million in 2022, then slightly declined in the following years to 5633 million in 2024, suggesting a reduction in outstanding supplier obligations after 2022.
Dividends Payable: Dividends payable consistently rose from 2162 million in 2020 to 2437 million in 2024, demonstrating a steady increase in dividends declared or owed over the period.
Income Taxes Payable: Income taxes payable increased progressively from 1049 million in 2020 to 2910 million in 2024, indicating growing tax liabilities or delayed tax payments.
Accrued Compensation and Related Items: Accrued compensation generally increased from 3058 million in 2020 to 3838 million in 2024, with a dip to 2776 million in 2023. This may reflect fluctuations in employee-related expenses or timing of accruals.
Deferred Revenues: Deferred revenues rose sharply from 1113 million in 2020 to 3067 million in 2021, then declined to 1511 million in 2024, indicating variability in advance payments or revenue recognition timing.
Other Current Liabilities: Other current liabilities nearly doubled from 11526 million in 2020 to 24938 million in 2021, then gradually decreased to 19720 million by 2024, showing significant changes in miscellaneous current obligations.
Current Liabilities: Current liabilities grew markedly from 25920 million in 2020 to a peak of 47794 million in 2023 before declining to 42995 million in 2024, largely impacted by fluctuations in short-term borrowings and other current liabilities.
Long-term Debt: Long-term debt decreased from 37133 million in 2020 to 32884 million in 2022, then surged to 61538 million in 2023 before slightly reducing to 57405 million in 2024, indicating substantial borrowing or refinancing activity in later years.
Pension and Postretirement Benefit Obligations: These obligations steadily decreased from 5411 million in 2020 to 2115 million in 2024, suggesting improvements in funded status or changes in accounting assumptions.
Noncurrent Deferred Tax Liabilities: Deferred tax liabilities declined sharply from 4063 million in 2020 to 349 million in 2021, then fluctuated, reaching 2122 million in 2024. This reflects variability in deferred tax positions over the years.
Other Taxes Payable: Other taxes payable declined from 11560 million in 2020 to 6112 million in 2024, indicating reduced tax obligations or better tax management.
Other Noncurrent Liabilities: Other noncurrent liabilities increased from 6669 million in 2020 to 16540 million in 2023 before declining to 14150 million in 2024, showing considerable growth followed by a partial reduction in long-term miscellaneous obligations.
Noncurrent Liabilities: Noncurrent liabilities experienced a decreasing trend from 64836 million in 2020 to 59150 million in 2022, then surged to 89419 million in 2023, declining to 81904 million in 2024, indicating variability mainly driven by long-term debt and other liabilities.
Total Liabilities: Total liabilities increased overall from 90756 million in 2020 to 124899 million in 2024, with a pronounced peak at 137213 million in 2023, reflecting elevated borrowing and obligations in that year.
Common Stock: Common stock value showed a slight increase from 470 million in 2020 to 480 million in 2024, signaling minimal changes in share capital.
Additional Paid-in Capital: Additional paid-in capital steadily increased from 88674 million in 2020 to 93603 million in 2024, suggesting ongoing equity contributions or retained earnings adjustments.
Treasury Stock: Treasury stock holdings rose marginally in negative value from -110988 million in 2020 to -114763 million in 2024, indicating continued repurchase or holding of own shares.
Retained Earnings: Retained earnings increased significantly from 96770 million in 2020 to a peak of 125656 million in 2022, then slightly decreased to 116725 million in 2024, reflecting net income accumulation tempered by dividends or losses thereafter.
Accumulated Other Comprehensive Loss: The accumulated other comprehensive loss improved from -11688 million in 2020 to -7842 million in 2024, showing a reduction in overall comprehensive losses.
Total Shareholders’ Equity: Total shareholders’ equity rose from 63238 million in 2020 to 95661 million in 2022, then slightly declined to 88203 million in 2024, indicating net positive equity growth followed by modest erosion.
Equity Attributable to Noncontrolling Interests: Equity attributable to noncontrolling interests remained relatively stable, increasing marginally from 235 million in 2020 to 294 million in 2024.
Total Equity: Total equity increased significantly from 63473 million in 2020 to 95916 million in 2022, then decreased to 88497 million in 2024, mirroring the trend in shareholders’ equity.
Total Liabilities and Equity: The sum of liabilities and equity increased from 154229 million in 2020 to 226501 million in 2023 before a slight decline to 213396 million in 2024, reflecting overall growth in the company's financial scale with a minor contraction at the end.

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Pfizer Inc. (NYSE:PFE)

Balance Sheet: Liabilities and Stockholders’ Equity