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Pfizer Inc. (NYSE:PFE)


Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

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 cash flow statement (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Net income before allocation to noncontrolling interests 3,410  (326) 7,683  5,056  3,889  (383) 4,122  3,879  3,570  12,289  2,858  3,078  3,130  781  1,354  2,063  3,048  (169) 2,138  2,636  2,381 
Depreciation and amortization 1,218  1,384  1,553  1,528  1,545  1,641  1,614  1,562  1,567  1,574  1,566  1,574  1,555  1,549  1,396  1,387  1,425  1,424  1,272  1,201  1,260 
Asset write-offs and impairments 45  2,729  46  23  155  3,310  47  34  308  229  62  35  467  163  837  146  255  822  31  11 
TCJA impact —  (4) (34) (154) (131) (186) (342) —  (68) (10,660) —  —  —  —  —  —  —  —  —  —  — 
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed (6) —  (8,233) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Foreign currency loss related to Venezuela —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  806  —  —  — 
Adjustment to loss on disposal of discontinued operations —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred taxes from continuing operations 109  (1,453) 2,227  (100) (60) (1,231) (474) (794) 294  (2,651) (79) 282  38  635  (1,325) 194  (204) 145  18  (142) (41)
Deferred taxes from discontinued operations —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Share-based compensation expense 64  270  64  199  185  267  303  197  182  245  207  170  218  159  145  244  143  181  141  185  162 
Benefit plan contributions in excess of income and expense (248) 93  (116) (162) (151) (95) (174) (134) (692) 81  37  (93) (986) 63  82  (4) (853) 187  38  32  (874)
Other adjustments, net 122  (464) (160) (226) (236) (100) (646) (362) (162) 616  (140) (193) (176) 429  1,322  (58) 228  24  10  141  (335)
Other changes in assets and liabilities, net of acquisitions and divestitures (1,581) 1,540  1,480  (3,553) (3,498) 1,515  809  (535) (2,715) 4,940  209  (1,628) (2,225) 1,667  1,600  (1,057) (2,125) 1,852  585  (1,879)
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities (277) 4,095  (3,173) (2,445) (2,191) 5,121  1,137  (32) (1,587) (5,547) 2,029  174  (1,541) 4,969  3,383  1,543  (1,240) 4,882  2,886  1,454  (1,696)
Net cash provided by operating activities 3,133  3,769  4,510  2,611  1,698  4,738  5,259  3,847  1,983  6,742  4,887  3,252  1,589  5,750  4,737  3,606  1,808  4,713  5,024  4,090  685 
Purchases of property, plant and equipment (463) (672) (565) (479) (460) (685) (547) (424) (386) (700) (450) (448) (358) (689) (432) (401) (301) (611) (289) (258) (239)
Purchases of short-term investments (2,551) (2,252) (520) (2,661) (1,402) (4,313) (4,242) (2,209) (913) (8,127) (4,075) (1,693) (701) (787) (6,426) (5,255) (3,489) (7,513) (5,039) (8,483) (7,546)
Proceeds from redemptions/sales of short-term investments 3,257  1,417  1,765  2,400  3,601  4,829  2,255  4,034  6,463  4,524  2,263  1,285  2,235  8,751  5,928  6,835  7,922  6,455  13,126  9,781  10,702 
Net (purchases of) proceeds from redemptions/sales of short-term investments with original maturities of three months or less (416) (1,382) 3,590  (1,224) 5,941  (4,302) (846) (3,276) 4,507  (700) (666) (354) 3,778  (10,703) 6,734  (742) 493  211  2,537  (2,223) 5,243 
Purchases of long-term investments (22) (67) (11) (39) (84) (294) (433) (465) (605) (1,011) (863) (923) (740) (3,240) (1,645) (1,818) (1,308) (2,964) (1,156) (2,272) (3,150)
Proceeds from redemptions/sales of long-term investments 152  116  (26) 98  44  4,070  813  785  576  1,177  878  693  846  4,339  4,488  1,285  1,142  2,394  1,244  1,354  1,937 
Acquisitions of businesses, net of cash acquired —  —  (10,861) —  —  —  —  —  —  —  —  (415) (585) (689) (13,063) (4,506) (110) (144) (15,643) (1) (678)
Acquisitions of intangible assets (32) (54) (97) (109) (158) (107) (15) —  (32) (73) (147) (41) —  (80) —  (96) —  (51) (36) (5) (7)
Other investing activities, net 61  (35) 112  68  38  111  81  57  131  64  158  297  (9) 35  20  (1) 13  330 
Net cash (used in) provided by investing activities (71) (2,833) (6,760) (1,902) 7,550  (764) (2,904) (1,474) 9,667  (4,779) (2,996) (1,738) 4,772  (3,107) (4,381) (4,678) 4,355  (2,224) (5,243) (2,105) 6,592 
Proceeds from short-term borrowings 5,302  4,873  7,626  3,347  609  1,766  199  1,318  428  1,461  2,204  2,245  2,554  1,075  4,090  1,625  682  3,535  —  24  1,998 
Principal payments on short-term borrowings (7,551) (4,290) (1,713) (609) (1,766) (198) (1,318) (428) (2,493) (2,299) (2,581) (2,580) (2,530) (1,781) (1,030) (941) (1,350) (3,950) (5) (10) — 
Net proceeds from (payments on) short-term borrowings with original maturities of three months or less 3,207  (53) (115) 687  2,032  (644) (3,065) 2,175  (83) 846  294  2,374  (2,113) (2,121) (3,145) 458  1,724  810  1,426  (382) 863 
Proceeds from issuance of long-term debt 1,241  —  —  —  4,942  —  4,974  —  —  —  —  5,273  5,945  —  5,031  —  —  —  —  — 
Principal payments on long-term debt (2,181) (1,000) (451) (2,351) (3,004) (462) —  (2,749) (355) (1,680) (1) (3,220) (1,253) (3,372) —  (2,781) (1,536) —  (1) —  (3,002)
Purchases of common stock —  —  —  —  (8,865) (5,030) (1,105) —  (6,063) —  —  —  (5,000) —  —  —  (5,000) —  (160) —  (6,000)
Cash dividends paid (2,105) (1,992) (2,004) (2,002) (2,045) (1,963) (1,994) (1,989) (2,032) (1,909) (1,895) (1,910) (1,945) (1,821) (1,821) (1,821) (1,854) (1,729) (1,728) (1,725) (1,758)
Proceeds from exercise of stock options 124  91  55  122  126  160  625  102  372  206  245  98  313  73  250  400  296  98  184  187  794 
Other financing activities, net (237) (69) (125) (45) (496) (36) 278  (337) (494) (11) (8) (220) (4) (6) (53) (133) 127  17  31  123 
Net cash used in financing activities (2,200) (2,440) 3,273  (851) (8,467) (6,407) (1,406) (1,908) (10,720) (3,385) (1,728) (3,001) (4,921) (2,006) (1,662) 1,918  (7,171) (1,109) (267) (1,875) (6,982)
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents (16) (15) (38) 11  (103) (69) 55  (15) 31  16  21  (136) (11) (72) (838) (85) (3) (75)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 846  (1,495) 1,008  (180) 792  (2,432) 846  396  985  (1,437) 194  (1,471) 1,461  501  (1,317) 850  (1,080) 542  (571) 107  220 

Based on: 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-27), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

Cash flow statement 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 decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Net cash (used in) provided by 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) provided by investing activities increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
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 decreased from Q3 2019 to Q4 2019 but then slightly increased from Q4 2019 to Q1 2020.