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Financial Review
Pfizer Inc. and Subsidiary Companies
38
2015 Financial Report
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information––Certain Line Items
2015
IN MILLIONS, EXCEPT PER COMMON SHARE DATA
GAAP
Reported
Purchase
Accounting
Adjustments(a)
Acquisition-
Related
Costs(a)
Discontinued
Operations(a)
Certain
Significant
Items(a)
Non-GAAP
Adjusted
Revenues $ 48,851 $ —$—$—$—$
48,851
Cost of sales 9,648 (413)(75)—
(140)9,021
Selling, informational and administrative
expenses 14,809 ———
(484)14,324
Research and development expenses 7,690 7——
(44)7,653
Amortization of intangible assets 3,728 (3,598)— ——
130
Restructuring charges and certain
acquisition-related costs 1,152 —(820)—
(333)—
Other (income)/deductions––net 2,860 52 — — (3,321)(409)
Income from continuing operations before
provision for taxes on income 8,965 3,953 894 —4,321 18,133
Provision for taxes on income(b) 1,990 1,110 303 —949 4,352
Income from continuing operations 6,975 2,843 591 —3,372 13,781
Discontinued operations––net of tax 11 ——
(11)— —
Net income attributable to noncontrolling
interests 26 ————26
Net income attributable to Pfizer Inc. 6,960 2,843 591 (11)3,372 13,755
Earnings per common share attributable
to Pfizer Inc.––diluted 1.11 0.45 0.09 —0.54 2.20
2014
IN MILLIONS, EXCEPT PER COMMON SHARE DATA
GAAP
Reported
Purchase
Accounting
Adjustments(a)
Acquisition-
Related
Costs(a)
Discontinued
Operations(a)
Certain
Significant
Items(a)
Non-GAAP
Adjusted
Revenues $ 49,605 $ —$—$—$
(198)$ 49,406
Cost of sales 9,577 101 (53)—
(491)9,134
Selling, informational and administrative
expenses 14,097 1——
(377)13,721
Research and development expenses 8,393 2——
(1,243)7,153
Amortization of intangible assets 4,039 (3,884)— ——
155
Restructuring charges and certain
acquisition-related costs 250 —(130)—
(121)—
Other (income)/deductions––net 1,009 139 ——
(1,716)(567)
Income from continuing operations before
provision for taxes on income 12,240 3,641 183 —3,749 19,812
Provision for taxes on income(b) 3,120 1,085 76 — 969 5,250
Income from continuing operations 9,119 2,556 107 —2,780 14,562
Discontinued operations––net of tax 48 ——
(48)— —
Net income attributable to noncontrolling
interests 32 ————32
Net income attributable to Pfizer Inc. 9,135 2,556 107 (48)2,780 14,530
Earnings per common share attributable
to Pfizer Inc.––diluted 1.42 0.40 0.02 (0.01)0.43 2.26
See end of tables for notes (a) and (b).