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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 1,052 $ 2,853
Short-term investments 6,048 9,837
Trade accounts receivable, less allowance for doubtful accounts: 2024—$468; 2023—$470 11,393 11,566
Inventories [1] 11,447 10,189
Current tax assets 3,694 3,978
Other current assets 4,190 4,911
Total current assets 37,825 43,333
Equity-method investments 8,029 11,637
Long-term investments 3,119 3,731
Property, plant and equipment, less accumulated depreciation: 2024—$16,572; 2023—$16,045 18,957 18,940
Identifiable intangible assets [2] 61,240 64,900
Goodwill [3] 68,445 67,783
Noncurrent deferred tax assets and other noncurrent tax assets 7,867 3,706
Other noncurrent assets 10,710 12,471
Total assets 216,193 226,501
Liabilities and Equity    
Short-term borrowings, including current portion of long-term debt: 2024—$3,745; 2023—$2,254 11,944 10,350
Trade accounts payable 5,106 6,710
Dividends payable 2,380 2,372
Income taxes payable 2,884 2,349
Accrued compensation and related items 2,566 2,776
Deferred revenues 2,528 2,700
Other current liabilities 16,410 20,537
Total current liabilities 43,819 47,794
Long-term debt 57,506 61,538
Pension and postretirement benefit obligations 2,040 2,167
Noncurrent deferred tax liabilities 2,227 640
Other taxes payable 6,532 8,534
Other noncurrent liabilities 16,095 16,539
Total liabilities 128,218 137,213
Commitments and Contingencies
Common stock 480 478
Additional paid-in capital 93,197 92,631
Treasury stock (114,757) (114,487)
Retained earnings 116,596 118,353
Accumulated other comprehensive loss (7,816) (7,961)
Total Pfizer Inc. shareholders’ equity 87,700 89,014
Equity attributable to noncontrolling interests 275 274
Total equity 87,975 89,288
Total liabilities and equity $ 216,193 $ 226,501
[1] The increase from December 31, 2023 reflects higher inventory levels for certain products mainly for supply recovery and network strategy.
[2] The decrease is primarily due to amortization expense of $2.6 billion, measurement period adjustments related to our acquisition of Seagen of $625 million (see Note 2A) and impairments of $349 million (see Note 4).
[3] All goodwill is assigned within the Biopharma reportable segment. As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 13A), our goodwill is required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. Therefore, we have not yet completed the allocation, but it will be completed in the current year.