Pfizer 2010 Annual Report Download - page 55

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Consolidated Statements of Income
Pfizer Inc. and Subsidiary Companies
YEAR ENDED DECEMBER 31,
(MILLIONS, EXCEPT PER COMMON SHARE DATA) 2010 2009 2008
Revenues $67,809 $50,009 $48,296
Costs and expenses:
Cost of sales(a) 16,279 8,888 8,112
Selling, informational and administrative expenses(a) 19,614 14,875 14,537
Research and development expenses(a) 9,413 7,845 7,945
Amortization of intangible assets 5,404 2,877 2,668
Acquisition-related in-process research and development charges 125 68 633
Restructuring charges and certain acquisition-related costs 3,214 4,337 2,675
Other deductions—net 4,338 292 2,032
Income from continuing operations before provision for taxes on income 9,422 10,827 9,694
Provision for taxes on income 1,124 2,197 1,645
Income from continuing operations 8,298 8,630 8,049
Discontinued operations—net of tax (9) 14 78
Net income before allocation to noncontrolling interests 8,289 8,644 8,127
Less: Net income attributable to noncontrolling interests 32 923
Net income attributable to Pfizer Inc. $ 8,257 $ 8,635 $ 8,104
Earnings per common share—basic
Income from continuing operations attributable to Pfizer Inc. common shareholders $ 1.03 $ 1.23 $ 1.19
Discontinued operations—net of tax —— 0.01
Net income attributable to Pfizer Inc. common shareholders $ 1.03 $ 1.23 $ 1.20
Earnings per common share—diluted
Income from continuing operations attributable to Pfizer Inc. common shareholders $ 1.02 $ 1.23 $ 1.19
Discontinued operations—net of tax —— 0.01
Net income attributable to Pfizer Inc. common shareholders $ 1.02 $ 1.23 $ 1.20
Weighted-average shares—basic 8,036 7,007 6,727
Weighted-average shares—diluted 8,074 7,045 6,750
(a) Exclusive of amortization of intangible assets, except as disclosed in Note 1L. Significant Accounting Policies: Amortization of Intangible Assets,
Depreciation and Certain Long-Lived Assets.
See Notes to Consolidated Financial Statements, which are an integral part of these statements.
2010 Financial Report 53