Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Pfizer Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income before allocation to noncontrolling interests 8,062 2,158 31,407 22,025 9,652
Discontinued operations, net of tax (11) 14 (6) 434 (2,631)
Net income from continuing operations before allocation to noncontrolling interests 8,051 2,172 31,401 22,459 7,021
Depreciation and amortization 7,013 6,290 5,064 5,191 4,777
Asset write-offs and impairments 4,242 3,408 550 276 2,049
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed (6)
Deferred taxes (2,102) (3,442) (3,764) (4,293) (1,468)
Share-based compensation expense 877 525 872 1,182 756
Benefit plan contributions in excess of income/expense (12) (787) (1,158) (3,123) (1,790)
Inventory write-offs and related charges associated with COVID-19 products 6,199 1,183
Other adjustments, net (2,259) (3,493) 758 (1,574) (478)
Trade accounts receivable (109) 347 261 (3,811) (1,249)
Inventories (854) (1,169) (591) (1,125) (736)
Other assets 3,380 (663) (4,506) (1,057) (146)
Trade accounts payable (1,023) (300) 1,191 1,242 353
Other liabilities (3,115) 595 (1,449) 18,721 2,741
Other tax accounts, net (1,345) (982) (545) (1,166) (1,238)
Other changes in assets and liabilities, net of acquisitions and divestitures (3,066) (2,172) (5,639) 12,804 (275)
Adjustments to reconcile net income from continuing operations before allocation to noncontrolling interests to net cash provided by operating activities 4,693 6,528 (2,134) 10,463 3,565
Net cash provided by operating activities 12,744 8,700 29,267 32,922 10,586
Purchases of property, plant and equipment (2,909) (3,907) (3,236) (2,711) (2,252)
Purchases of short-term investments (10,133) (30,974) (36,384) (38,457) (13,805)
Proceeds from redemptions/sales of short-term investments 4,128 39,264 44,821 27,447 11,087
Net (purchases of) proceeds from redemptions/sales of short-term investments with original maturities of three months or less 3,136 5,174 (483) (8,088) 920
Purchases of long-term investments (180) (204) (1,913) (1,068) (597)
Proceeds from redemptions/sales of long-term investments 1,570 1,979 641 649 723
Proceeds from partial sales of investment in Haleon 7,040
Acquisitions of businesses, net of cash acquired (43,430) (22,997)
Dividend received from the Consumer Healthcare JV 3,960
Other investing activities, net (180) (192) (306) (264)
Net cash (used in) provided by investing activities 2,652 (32,278) (15,783) (22,534) (4,188)
Proceeds from short-term borrowings 8,907 4,525 3,891 12,352
Payments on short-term borrowings (11,226) (3) (3,887) (22,197)
Net proceeds from (payments on) short-term borrowings with original maturities of three months or less (2,590) 3,161 (222) (96) (4,129)
Proceeds from issuances of long-term debt 30,831 997 5,222
Payments on long-term debt (2,250) (2,569) (3,298) (2,004) (4,003)
Purchases of common stock (2,000)
Cash dividends paid (9,512) (9,247) (8,983) (8,729) (8,440)
Other financing activities, net (469) (632) (335) 16 (445)
Net cash provided by (used in) financing activities (17,140) 26,066 (14,834) (9,816) (21,640)
Net cash provided by (used in) operating activities from discontinued operations (342) 3,817
Net cash used in investing activities from discontinued operations (12) (83)
Net cash provided by financing activities from discontinued operations 11,991
Net cash provided by (used in) discontinued operations (354) 15,725
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents (66) (40) (165) (59) (8)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (1,810) 2,448 (1,515) 159 475
Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period 2,917 469 1,983 1,824 1,350
Cash and cash equivalents and restricted cash and cash equivalents, at end of period 1,107 2,917 468 1,983 1,825

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Pfizer Inc. net cash provided by operating activities decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Pfizer Inc. net cash (used in) provided by investing activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Pfizer Inc. net cash provided by (used in) financing activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.