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Statement of Cash Flows

Difficulty: Beginner

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

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net income before allocation to noncontrolling interests 21,355  7,246  6,986  9,168  22,072 
Depreciation and amortization 6,269  5,757  5,157  5,537  6,410 
Asset write-offs and impairments 634  1,613  1,119  531  1,368 
Foreign currency loss related to Venezuela 806 
(Gain) loss on disposal of discontinued operations (51) (10,446)
Loss on sale of HIS net assets 55  1,712 
TCJA impact (10,660)
Gain associated with the transfer of certain product rights to an equity-method investment (459)
Deferred taxes from continuing operations (2,410) (700) (20) 320  1,726 
Deferred taxes from discontinued operations (3) (23)
Share-based compensation expense 840  691  669  586  523 
Benefit plan contributions (in excess of) less than expense (961) (712) (617) (199) 310 
Other adjustments, net 52  209  (160) (429) (324)
Trade accounts receivable 259  (134) 21  148  940 
Inventories (357) 365  (199) 175  (538)
Other assets (31) (60) 249  1,156  (822)
Trade accounts payable 46  871  254  297  382 
Other liabilities (67) (223) 474  (844) (3,184)
Other tax accounts, net 1,446  (734) (235) 491  (170)
Changes in assets and liabilities, net of acquisitions and divestitures 1,296  85  564  1,423  (3,392)
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities (4,885) 8,655  7,526  7,715  (4,307)
Net cash provided by operating activities 16,470  15,901  14,512  16,883  17,765 
Purchases of property, plant and equipment (1,956) (1,823) (1,397) (1,199) (1,206)
Purchases of short-term investments (14,596) (15,957) (28,581) (50,954) (42,761)
Proceeds from redemptions/sales of short-term investments 10,307  29,436  40,064  47,374  41,127 
Net (purchases of) proceeds from redemptions/sales of short-term investments with original maturities of three months or less 2,058  (4,218) 5,768  3,930  (4,277)
Purchases of long-term investments (3,537) (8,011) (9,542) (10,718) (11,020)
Proceeds from redemptions/sales of long-term investments 3,594  11,254  6,929  6,145  7,555 
Acquisitions of businesses, net of cash acquired (1,000) (18,368) (16,466) (195) (15)
Acquisitions of intangible assets (261) (176) (99) (384) (259)
Other investing activities, net 650  52  344  347  231 
Net cash used in investing activities (4,741) (7,811) (2,980) (5,654) (10,625)
Proceeds from short-term borrowings 8,464  7,472  5,557  13  4,323 
Principal payments on short-term borrowings (9,990) (5,102) (3,965) (10) (4,234)
Net proceeds from (payments on) short-term borrowings with original maturities of three months or less 1,401  (3,084) 2,717  (1,841) 3,475 
Proceeds from issuances of long-term debt 5,274  10,976  4,491  6,618 
Principal payments on long-term debt (6,154) (7,689) (3,003) (2,104) (4,146)
Purchases of common stock (5,000) (5,000) (6,160) (5,000) (16,290)
Cash dividends paid (7,659) (7,317) (6,940) (6,609) (6,580)
Proceeds from exercise of stock options 862  1,019  1,263  1,002  1,750 
Other financing activities, net (233) (196) 298  72  109 
Net cash used in financing activities (13,035) (8,921) (10,233) (9,986) (14,975)
Effect of exchange-rate changes on cash and cash equivalents 53  (215) (1,001) (83) (63)
Net increase (decrease) in cash and cash equivalents (1,253) (1,046) 298  1,160  (7,898)
Cash and cash equivalents, beginning 2,595  3,641  3,343  2,183  10,081 
Cash and cash equivalents, end 1,342  2,595  3,641  3,343  2,183 
Source: Pfizer Inc., Annual Reports
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 2015 to 2016 and from 2016 to 2017.