PFIZER INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
PFE$29.36+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| (MILLIONS) | March 31,2024 | April 2,2023 |
| Operating Activities | ||
| Net income before allocation to noncontrolling interests | $3,123 | $5,556 |
| Discontinued operations—net of tax | (5) | 1 |
| Net income from continuing operations before allocation to noncontrolling interests | 3,128 | 5,555 |
| Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by/(used in) operating activities: | ||
| Depreciation and amortization | 1,736 | 1,487 |
| Asset write-offs and impairments | 136 | 270 |
| Deferred taxes | (441) | (598) |
| Share-based compensation expense | 220 | 105 |
| Benefit plan contributions in excess of expense/income | (201) | (200) |
| Other adjustments, net | (151) | 99 |
| Other changes in assets and liabilities, net of acquisitions and divestitures | (3,336) | (5,507) |
| Net cash provided by/(used in) operating activities | 1,090 | 1,212 |
| Investing Activities | ||
| Purchases of property, plant and equipment | (704) | (1,139) |
| Purchases of short-term investments | (797) | (6,665) |
| Proceeds from redemptions/sales of short-term investments | 658 | 6,400 |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | (1,187) | 4,665 |
| Purchases of long-term investments | (35) | (51) |
| Proceeds from redemptions/sales of long-term investments | 305 | 124 |
| Proceeds from partial sale of investment in Haleon(a) | 3,491 | — |
| Other investing activities, net | — | (18) |
| Net cash provided by/(used in) investing activities | 1,732 | 3,315 |
| Financing Activities | ||
| Proceeds from short-term borrowings | 1,444 | 11 |
| Payments on short-term borrowings | (328) | — |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | (2,039) | 226 |
| Payments on long-term debt | (1,250) | (269) |
| Cash dividends paid | (2,372) | (2,303) |
| Other financing activities, net | (386) | (436) |
| Net cash provided by/(used in) financing activities | (4,931) | (2,771) |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | (28) | (2) |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | (2,137) | 1,754 |
| Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period | 2,917 | 468 |
| Cash and cash equivalents and restricted cash and cash equivalents, at end of period | $780 | $2,222 |
| Supplemental Cash Flow Information | ||
| Cash paid during the period for: | ||
| Income taxes | $184 | $329 |
| Interest paid | 415 | 419 |
| Interest rate hedges | 33 | 60 |
(a) See Note 2B.
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