Other Financial Information

6 Months Ended

Jun. 30, 2024

Other Financial Information [Abstract]

A. Inventories


The following summarizes the components of Inventories:
(MILLIONS)	June 30, 2024		December 31, 2023
Finished goods	$	3,220	$	3,495
Work-in-process	7,072		5,688
Raw materials and supplies	1,156		1,007
Inventories(a)	$	11,447	$	10,189
Noncurrent inventories not included above(b)	$	2,918	$	4,568

(a)The increase from December 31, 2023 reflects higher inventory levels for certain products mainly for supply recovery and network strategy.

(b)Included in Other noncurrent assets. The decrease from December 31, 2023 is primarily driven by an adjustment to the fair value step-up of acquired Seagen inventory. Based on our current estimates and assumptions, there are no recoverability issues for these amounts.

B. Comirnaty Gross Profit Split

Amounts due from BioNTech for the Comirnaty gross profit split totaled $275 million in Other current assets as of June 30, 2024, and amounts payable to BioNTech for the Comirnaty gross profit split totaled $2.0 billion in Other current liabilities as of December 31, 2023. The change in the first six months of 2024 is primarily due to a decline in Comirnaty sales and the timing of gross profit split settlements with BioNTech.

C. Supplier Finance Program Obligation

We maintain voluntary supply chain finance agreements with several participating financial institutions. Under these agreements, participating suppliers may voluntarily elect to sell their accounts receivable with Pfizer to these financial institutions. As of June 30, 2024 and December 31, 2023, respectively, $593 million and $791 million of our trade payables to suppliers who participate in these financing arrangements were outstanding.