Pfizer Inc. (PFE)

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

	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
	Depreciation and amortization
	Asset write-offs and impairments
	Foreign currency loss related to Venezuela
	(Gain) loss on disposal of discontinued operations
	Loss on sale of HIS net assets
	TCJA impact
	Gain associated with the transfer of certain product rights to an equity-method investment
	Deferred taxes from continuing operations
	Deferred taxes from discontinued operations
	Share-based compensation expense
	Benefit plan contributions (in excess of) less than expense
	Other adjustments, net
	Trade accounts receivable
	Inventories
	Other assets
	Trade accounts payable
	Other liabilities
	Other tax accounts, net
	Changes in assets and liabilities, net of acquisitions and divestitures
	Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities
	Net cash provided by operating activities
	Purchases of property, plant and equipment
	Purchases of short-term investments
	Proceeds from redemptions/sales of short-term investments
	Net (purchases of) proceeds from redemptions/sales of short-term investments with original maturities of three months or less
	Purchases of long-term investments
	Proceeds from redemptions/sales of long-term investments
	Acquisitions of businesses, net of cash acquired
	Acquisitions of intangible assets
	Other investing activities, net
	Net cash used in investing activities
	Proceeds from short-term borrowings
	Principal payments on short-term borrowings
	Net proceeds from (payments on) short-term borrowings with original maturities of three months or less
	Proceeds from issuances of long-term debt
	Principal payments on long-term debt
	Purchases of common stock
	Cash dividends paid
	Proceeds from exercise of stock options
	Other financing activities, net
	Net cash used in financing activities
	Effect of exchange-rate changes on cash and cash equivalents
	Net increase (decrease) in cash and cash equivalents
	Cash and cash equivalents, beginning
	Cash and cash equivalents, end

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-29), 10-K (filing date: 2015-02-27), 10-K (filing date: 2014-02-28).

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.’s net cash provided by operating activities increased from 2015 to 2016 and from 2016 to 2017.
Net cash used in 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.’s net cash used in investing activities declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Net cash 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.’s net cash used in financing activities increased from 2015 to 2016 but then declined significantly from 2016 to 2017.

	Pfizer Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality