v3.22.2.2
Segment, Geographic and Other Revenue Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended
Jun. 09, 2022
Oct. 02, 2022
Oct. 03, 2021
Jul. 03, 2022
Oct. 02, 2022
Oct. 03, 2021
Segment Reporting Information [Line Items]            
Revenues [1]   $ 22,638 $ 24,035   $ 76,040 $ 57,450
Income from continuing operations before provision/(benefit) for taxes on income [2]   9,001 7,843   29,498 20,484
Acquired in-process research and development expenses [3]   524 762   880 1,000
Net gains/(losses) recognized during the period on equity securities [4],[5]   (112) 400   (1,353) 1,601
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring     823   701 1,100
Net periodic benefit, actuarial valuation and other pension and postretirement plan gains     899     932
Collaborative Arrangement [Member] | Arvinas Inc [Member]            
Segment Reporting Information [Line Items]            
Acquired in-process research and development expenses     706     706
ReViral [Member]            
Segment Reporting Information [Line Items]            
Acquired in-process research and development expenses $ 426 426     426  
Selling, informational and administrative expenses [Member]            
Segment Reporting Information [Line Items]            
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring     150   344 310
ViiV [Member]            
Segment Reporting Information [Line Items]            
Dividend income   112 38   237 127
Other Business Activities [Member]            
Segment Reporting Information [Line Items]            
Revenues [6]   319 521   974 1,348
Income from continuing operations before provision/(benefit) for taxes on income [2],[6]   (4,007) (3,303)   (9,820) (7,778)
Inventory write-off         516  
Other Business Activities [Member] | Paxlovid [Member]            
Segment Reporting Information [Line Items]            
Cost, excess raw materials   400     400  
Other Business Activities [Member] | Reclassification Adjustment [Member]            
Segment Reporting Information [Line Items]            
Operating costs     (57) $ (105)   (153)
Reconciling Items [Member] | Amortization of Intangible Assets [Member]            
Segment Reporting Information [Line Items]            
Revenues   0 0   0 0
Income from continuing operations before provision/(benefit) for taxes on income [2]   (822) (980)   (2,478) (2,778)
Reconciling Items [Member] | Acquisition-Related Items [Member]            
Segment Reporting Information [Line Items]            
Revenues   0 0   0 0
Income from continuing operations before provision/(benefit) for taxes on income [2]   (62) (41)   (331) (14)
Reconciling Items [Member] | Certain Significant Items [Member]            
Segment Reporting Information [Line Items]            
Revenues [7]   0 0   0 0
Income from continuing operations before provision/(benefit) for taxes on income [2],[7]   (773) 318   (3,095) 1,102
Net gains/(losses) recognized during the period on equity securities         (1,300) 1,600
Biopharma [Member]            
Segment Reporting Information [Line Items]            
Revenues [1],[8]   22,319 23,513   75,066 56,101
Biopharma [Member] | Operating Segments [Member]            
Segment Reporting Information [Line Items]            
Revenues   22,319 23,513   75,066 56,101
Income from continuing operations before provision/(benefit) for taxes on income [2]   $ 14,665 11,848   $ 45,222 29,952
Biopharma [Member] | Operating Segments [Member] | Reclassification Adjustment [Member]            
Segment Reporting Information [Line Items]            
Operating costs     $ 57 $ 105   $ 153
[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] 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.
[3] See Note 1D.
[4] Reported in Other (income)/deductions––net. See Note 4.
[5] The losses in the first nine months of 2022 include, among other things, unrealized losses of $974 million related to investments in BioNTech, Cerevel Therapeutics Holdings, Inc. (Cerevel) and Arvinas. The gains in the third quarter and first nine months of 2021 included, among other things, unrealized gains of $420 million and $1.5 billion, respectively, related to investments in BioNTech and Cerevel.
[6] Other business activities include revenues and costs associated with PC1 and costs that we do not allocate to our operating segments, per above, including acquired IPR&D expenses in the periods presented. In the third quarter and first nine months of 2022, earnings include $426 million of acquired IPR&D expenses for an upfront payment related to the closing of the acquisition of ReViral, as well as a charge to Cost of sales of approximately $400 million related to excess raw materials for Paxlovid. Earnings in the first nine months of 2022 also include write-offs to Cost of sales of inventory, related to COVID-19 products that have exceeded or are expected to exceed their approved shelf-lives prior to being used, of $516 million. In the third quarter and first nine months of 2021, earnings include $706 million of acquired IPR&D expenses associated with our collaboration with Arvinas.
[7] Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in the first nine months of 2022 includes, among other items: (i) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $701 million ($344 million recorded in Selling, informational and administrative expenses and the remaining amounts primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the first nine months of 2021 includes, among other items: (i) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net and (ii) actuarial valuation and other pension and postretirement plan gains of $932 million recorded in Other (income)/deductions––net, partially offset by (iii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.1 billion ($310 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the third quarter of 2021 includes, among other items: (i) actuarial valuation and other pension and postretirement plan gains of $899 million recorded in Other (income)/deductions––net, partially offset by (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $823 million ($150 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs). For additional information, see Notes 3 and 4.
[8] See Note 1A for information about our recent organizational changes. PC1 includes revenues from our contract manufacturing, including certain Comirnaty-related manufacturing activities performed on behalf of BioNTech ($7 million and $108 million for the third quarter and the first nine months of 2022, respectively, and $187 million and $274 million for the third quarter and the first nine months of 2021, respectively), and revenues from our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with former legacy Pfizer businesses/partnerships, including but not limited to, transitional manufacturing and supply agreements with Viatris following the spin-off of the Upjohn Business. Prior to the fourth quarter of 2021, PC1 was managed within our former Hospital product portfolio.