Pfizer 2014 Annual Report Download - page 18

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PFIZER ANNUAL REVIEW 2014 www.pzer.com/annual 18
ANNUAL REVIEW 2014
FINANCIAL PERFORMANCE
THREE-YEAR SUMMARY
AS OF AND FOR THE YEAR ENDED DECEMBER 31(a)
Millions (Except Per Common Share Data) 2014 2013 2012 14/13 13/12
Revenues(a) $ 49,605 51,584 54,657 (4) (6)
Research and development expenses(a) $ 8,393 6,678 7,482 26 (11)
Restructuring charges and certain acquisition-related costs(a) $ 250 1,182 1,810 (79) (35)
Income from continuing operations(a) $ 9,119 11,410 9,021 (20) 26
Discontinued operations — net of tax(b) $ 48 10,662 5,577 (100) 91
Net income attributable to Pzer Inc.(a) $ 9,135 22,003 14,570 (58) 51
Diluted earnings per common share attributable to
Pzer Inc. shareholders $ 1.42 3.19 1.94 (55) 64
Weighted-average shares — diluted $ 6,424 6,895 7,508 (7) (8)
Number of common shares outstanding $ 6,291 6,399 7,276 (2) (12)
Total assets $ 169,274 172,101 185,798 (2) (7)
Total Long-term obligations(a),(c) $ 76,021 72,115 74,934 5 (4)
Total Pzer Inc. shareholders’ equity $ 71,301 76,307 81,260 (7) (6)
Shareholders’ equity per common share $ 11.33 11.93 11.17 (5) 7
Net cash provided by operating activities $ 16,883 17,684 16,746 (5) 6
Property, plant and equipment additions $ 1,199 1,206 1,327 (1) (9)
Purchases of common stock $ 5,000 16,290 8,228 (69) 98
Cash dividends paid $ 6,609 6,580 6,534 — 1
(a) All amounts reect the June 24, 2013 disposition of Zoetis and its presentation as a discontinued operation in all periods prior to 2014 presented.
(b) Includes (i) the Animal Health (Zoetis) business through June 24, 2013, the date of disposal and (ii) the Nutrition business through November 30, 2012, the date of disposal.
(c) Dened as Long-term debt, Pension benet obligations, net, Postretirement benet obligations, net, Noncurrent deferred tax liabilities, Other taxes payable and Other noncurrent
liabilities. Our short-term borrowings are rated P-1 by Moody’s Investors Service (Moody’s) and A-1+ by Standard & Poor’s (S&P). Our long-term debt is rated A1 by Moody’s and AA
by S&P. Moody’s and S&P are major corporate debt-rating organizations. A security rating is not a recommendation to buy, sell or hold securities and the rating is subject to revision or
withdrawal at any time by the rating organization. Each rating should be evaluated independently of any other rating.
Detailed information on our nancial and operational performance can be found in the 2014 Financial Report.
% CHANGE
CEO Letter > Performance
PERFORMANCE