v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Oct. 02, 2022
Oct. 03, 2021
Oct. 02, 2022
Oct. 03, 2021
Income Statement [Abstract]        
Revenues [1] $ 22,638 $ 24,035 $ 76,040 $ 57,450
Costs and expenses:        
Cost of sales [2] 6,063 9,932 24,696 21,085
Selling, informational and administrative expenses [2] 3,391 2,899 9,032 8,599
Research and development expenses [2] 2,696 2,681 7,813 6,914
Acquired in-process research and development expenses [3] 524 762 880 1,000
Amortization of intangible assets 822 968 2,478 2,743
Restructuring charges and certain acquisition-related costs 199 646 580 667
Other (income)/deductions––net (59) (1,696) 1,063 (4,043)
Income from continuing operations before provision/(benefit) for taxes on income [4] 9,001 7,843 29,498 20,484
Provision/(benefit) for taxes on income 356 (328) 3,098 1,603
Income from continuing operations 8,645 8,171 26,400 18,881
Discontinued operations––net of tax (21) (13) 4 (248)
Net income before allocation to noncontrolling interests 8,623 8,159 26,404 18,633
Less: Net income attributable to noncontrolling interests 15 12 27 47
Net income attributable to Pfizer Inc. common shareholders $ 8,608 $ 8,146 $ 26,378 $ 18,586
Earnings per common share––basic:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) $ 1.54 $ 1.45 $ 4.70 $ 3.37
Discontinued operations––net of tax (in dollars per share) 0 0 0 (0.04)
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) 1.54 1.45 4.71 3.32
Earnings per common share––diluted:        
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) 1.51 1.43 4.60 3.31
Discontinued operations––net of tax (in dollars per share) 0 0 0 (0.04)
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) $ 1.51 $ 1.42 $ 4.60 $ 3.27
Weighted-average shares––basic 5,607 5,609 5,606 5,597
Weighted-average shares––diluted 5,718 5,725 5,729 5,688
[1] On December 31, 2021, we completed the sale of our Meridian subsidiary. Prior to its sale, Meridian was managed as part of the former Hospital therapeutic area (see footnote (b) below). Beginning in the fourth quarter of 2021, the financial results of Meridian are reflected as discontinued operations. See Note 1A.
[2] Exclusive of amortization of intangible assets.
[3] See Note 1D.
[4] Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income from our investment in ViiV of $112 million in the third quarter of 2022 and $38 million in the third quarter of 2021, and $237 million in the first nine months of 2022 and $127 million in the first nine months of 2021. In connection with the organizational changes effective in the third quarter of 2022, certain functions transferred between Biopharma and corporate enabling functions and certain activities were realigned within the GPD organization. We have reclassified $105 million of costs for the first six months of 2022, $57 million of costs in the third quarter of 2021 and $153 million of costs in the first nine months of 2021 from corporate enabling functions, which are included in Other business activities, to Biopharma to conform to the current period presentation.