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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Oct. 01, 2017
Dec. 31, 2016
Assets    
Cash and cash equivalents [1],[2] $ 2,779 $ 2,595
Short-term investments [2] 14,146 15,255
Trade accounts receivable, less allowance for doubtful accounts: 2017—$590; 2016—$609 [2] 10,002 8,225
Inventories [2],[3] 7,925 6,783
Current tax assets [2] 3,263 3,041
Other current assets [2] 2,158 2,249
Assets held for sale [2] 16 801
Total current assets [2] 40,291 38,949
Long-term investments [2] 7,311 7,116
Property, plant and equipment, less accumulated depreciation: 2017—$15,906; 2016—$14,807 [2] 13,505 13,318
Identifiable intangible assets, less accumulated amortization [2],[4] 49,721 52,648
Goodwill [2] 56,078 54,449
Noncurrent deferred tax assets and other noncurrent tax assets [2] 1,858 1,812
Other noncurrent assets [2] 3,388 3,323
Total assets [2] 172,151 171,615
Liabilities and Equity    
Short-term borrowings, including current portion of long-term debt: 2017—$3,072; 2016—$4,225 [2],[5] 9,448 10,688
Trade accounts payable [2] 3,480 4,536
Dividends payable [2] 1,909 1,944
Income taxes payable [2] 1,003 437
Accrued compensation and related items [2] 1,932 2,487
Other current liabilities [2] 10,446 11,023
Total current liabilities [2] 28,217 31,115
Long-term debt [2],[6] 34,503 31,398
Pension benefit obligations, net [2] 5,531 6,406
Postretirement benefit obligations, net [2] 1,687 1,766
Noncurrent deferred tax liabilities [2] 30,411 30,753
Other taxes payable [2] 4,304 4,000
Other noncurrent liabilities [2] 6,388 6,337
Total liabilities [2] 111,041 111,776
Commitments and Contingencies [2]
Preferred stock [2] 22 24
Common stock [2] 463 461
Additional paid-in capital [2] 83,827 82,685
Treasury stock [2] (89,421) (84,364)
Retained earnings [2] 75,043 71,774
Accumulated other comprehensive loss [2] (9,164) (11,036)
Total Pfizer Inc. shareholders’ equity [2] 60,770 59,544
Equity attributable to noncontrolling interests [2] 340 296
Total equity [2] 61,110 59,840
Total liabilities and equity [2] $ 172,151 $ 171,615
[1] Amounts may not add due to rounding.
[2] Amounts may not add due to rounding.
[3] The change from December 31, 2016 reflects the build of inventory primarily for and in advance of new or potential product launches and increases to meet targeted levels for certain products in the normal course of business, including those related to demand.
[4] The decrease in Identifiable intangible assets, less accumulated amortization, is primarily due to amortization, measurement period adjustments related to Medivation (see Note 2A), as well as impairments of Developed technology rights (see Note 4), partially offset by assets acquired as part of the acquisition of AstraZeneca’s small molecule anti-infectives business (see Note 2A) and the assets recorded in connection with the EU and U.S. approvals of Besponsa (see Note 7E).
[5] The differences between the estimated fair values and carrying values of held-to-maturity debt securities, restricted stock and private equity securities at cost, and short-term borrowings not measured at fair value on a recurring basis were not significant as of October 1, 2017 or December 31, 2016. The fair value measurements of our held-to-maturity debt securities and our short-term borrowings are based on Level 2 inputs, using a market approach. The fair value measurements of our private equity securities carried at cost are based on Level 3 inputs.
[6] The fair value of our long-term debt (not including the current portion of long-term debt) was $39.0 billion as of October 1, 2017 and $34.9 billion as of December 31, 2016. The fair value measurements for our long-term debt are based on Level 2 inputs, using a market approach. Long-term debt includes foreign currency long-term borrowings with fair values of $4.7 billion as of October 1, 2017, which are used as hedging instruments.