PFIZER INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
PFE$29.23-0.5%Stored close · as of Nov 9, 2026
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New Accounting Standards
Recently Adopted Accounting Standards
See Note 1B.
| Recently Issued Accounting Standards, Not Adopted as of December 31, 2023 | ||
|---|---|---|
| Standard/Description | Effective Date | Effect on the Financial Statements |
| In June 2022, the FASB issued final guidance to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered when measuring fair value. Recognizing a contractual sale restriction as a separate unit of account is not permitted. | January 1, 2024, with early adoption permitted. | The new guidance is consistent with our current policy, and it will not have an impact on our consolidated financial statements. |
| In November 2023, the FASB issued final guidance to improve transparency of segment disclosures. The final guidance requires the disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, other segment items by reportable segment and a description of its composition, and requires all current annual disclosures be provided in interim periods. | January 1, 2024 for annual reports and January 1, 2025 for interim reports. Early adoption is permitted. | This new guidance will result in increased disclosures in the notes to our financial statements. |
| In December 2023, the FASB issued final guidance to improve income tax disclosures. The final guidance requires enhanced disclosures primarily related to existing rate reconciliation and income taxes paid information. | January 1, 2025, with early adoption permitted. | This new guidance will result in increased disclosures in the notes to our financial statements. |
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