Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Statement of Comprehensive Income 

Pfizer Inc., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income before allocation to noncontrolling interests 8,062 2,158 31,407 22,025 9,652
Foreign currency translation adjustments, net (124) 485 (2,204) (725) 1,036
Reclassification adjustments (17)
Foreign currency translation adjustments (124) 485 (2,204) (725) 1,019
Unrealized holding gains (losses) on derivative financial instruments, net 403 514 1,261 442 (494)
Reclassification adjustments for (gains) losses included in net income (130) (320) (1,792) 105 46
Derivative financial instruments 273 194 (531) 547 (448)
Unrealized holding gains (losses) on available-for-sale securities, net (133) (106) (1,142) (311) 316
Reclassification adjustments for (gains) losses included in net income 37 (123) 1,583 (26) (164)
Available-for-sale securities (96) (229) 441 (337) 152
Actuarial gains (losses), net (847)
Reclassification adjustments related to amortization 214
Reclassification adjustments related to settlements, net 213
Other (183)
Actuarial gains (losses) (603)
Prior service (costs) credits and other, net 148 (20) (19) 89 40
Reclassification adjustments related to amortization of prior service costs and other, net (83) (89) (100) (107) (145)
Reclassification adjustments related to curtailments of prior service costs and other, net (2) (11) (9) (57)
Other (1)
Prior service (costs) credits and other 63 (120) (128) (75) (106)
Benefit plans 63 (120) (128) (75) (709)
Other comprehensive income (loss) before allocation to noncontrolling interests 116 330 (2,422) (590) 14
Comprehensive income before allocation to noncontrolling interests 8,178 2,488 28,985 21,435 9,666
Comprehensive income attributable to noncontrolling interests (29) (26) (20) (42) (27)
Comprehensive income attributable to Pfizer Inc. 8,149 2,462 28,965 21,393 9,639

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).


Net Income Before Allocation to Noncontrolling Interests
The net income exhibits significant volatility over the period. It increased sharply from 9,652 million US$ in 2020 to a peak of 31,407 million US$ in 2022, followed by a steep decline to 2,158 million US$ in 2023, then rebounding to 8,062 million US$ in 2024. This suggests fluctuating profitability, likely influenced by external or operational factors.
Foreign Currency Translation Adjustments
The net foreign currency translation adjustments showed a negative trend from 1,036 million US$ in 2020 to losses of -2,204 million US$ in 2022. This was followed by a recovery to a positive 485 million US$ in 2023 but then turned negative again at -124 million US$ in 2024. This indicates continued exposure to foreign exchange fluctuations impacting the company’s financials inconsistently.
Unrealized Holding Gains (Losses) on Derivative Financial Instruments
A positive trend is observed with gains increasing from a loss of -494 million US$ in 2020 to gains of 1,261 million US$ in 2022. Gains then decreased but remained positive at 514 million US$ in 2023 and 403 million US$ in 2024. Reclassification adjustments showed a marked negative adjustment in 2022 (-1,792 million US$) followed by smaller negative adjustments in subsequent years, showing volatility in derivative instrument valuations and their impact on income.
Unrealized Holding Gains (Losses) on Available-for-Sale Securities
This category experienced a decline from gains of 316 million US$ in 2020 to increasing losses peaking at -1,142 million US$ in 2022, with minor losses thereafter. Corresponding reclassification adjustments were negative in early years and showed a large positive spike (1,583 million US$) in 2022, suggesting that some gains or losses were realized affecting reported earnings.
Actuarial Gains (Losses) and Related Reclassifications
Actuarial losses were significant in 2020 (-847 million US$) with related positive reclassification adjustments partially offsetting these losses. From 2021 onward, actuarial gains or losses data is not available. The prior service costs and other related items fluctuated minimally across the years, indicating relative stability in pension or benefit plan assumptions.
Benefit Plans
Benefit plan related losses sharply decreased from -709 million US$ in 2020 to less pronounced values in subsequent years, with a positive turn to 63 million US$ in 2024. This reflects changing pension or benefit plan liabilities or funding status improving over time.
Other Comprehensive Income (Loss) Before Allocation to Noncontrolling Interests
The other comprehensive income experienced negative impacts in 2021 and 2022 (-590 million US$ and -2,422 million US$, respectively), followed by a recovery to a positive value of 330 million US$ in 2023 and 116 million US$ in 2024. This reflects recovery from adverse market or foreign currency effects affecting comprehensive income components.
Comprehensive Income
Comprehensive income showed a trend similar to net income, with substantial growth from 9,666 million US$ in 2020 to 28,985 million US$ in 2022, followed by a significant decline in 2023 (2,488 million US$) and a partial recovery in 2024 (8,178 million US$). This pattern was consistent for both amounts attributable to Pfizer Inc. and after allocation to noncontrolling interests, demonstrating volatility in overall financial performance but with notable resiliency.