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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Millions, except Per Share data
3 Months Ended9 Months Ended
Oct. 02, 2011
Oct. 03, 2010
Oct. 02, 2011
Oct. 03, 2010
Revenues$ 17,193$ 15,995$ 50,679$ 49,703
Costs and expenses:    
Cost of sales3,679[1]3,790[1]11,177[1]11,676[1]
Selling, informational and administrative expenses4,621[1]4,599[1]14,097[1]13,776[1]
Research and development expenses2,188[1]2,188[1]6,516[1]6,590[1]
Amortization of intangible assets1,3971,1564,1683,972
Acquisition-related in-process research and development charges   74
Restructuring charges and certain acquisition-related costs1,101[2]499[2]2,474[2]2,090[2]
Other deductions-net5382,3491,7783,036
Income from continuing operations before provision for taxes on income3,669[3]1,414[3]10,469[3]8,489[3]
Provision for taxes on income1,2355583,2233,165
Income from continuing operations2,4348567,2465,324
Discontinued operations:    
(Loss)/income from discontinued operations-net of tax(13)263976
Gain/(loss) on sale of discontinued operations-net of tax1,328(11)1,316(9)
Discontinued operations-net of tax1,315151,35567
Net income before allocation to noncontrolling interests3,7498718,6015,391
Less: net income attributable to noncontrolling interests1153124
Net income attributable to Pfizer Inc.$ 3,738$ 866$ 8,570$ 5,367
Earnings per share-basic:    
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)$ 0.31$ 0.11$ 0.92$ 0.66
Discontinued operations-net of tax (in dollars per share)$ 0.17 $ 0.17$ 0.01
Net income attributable to Pfizer Inc. common shareholders (in dollars per share)$ 0.48[4]$ 0.11[4]$ 1.09[4]$ 0.67[4]
Earnings per share-diluted:    
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)$ 0.31$ 0.11$ 0.91$ 0.66
Discontinued operations-net of tax (in dollars per share)$ 0.17 $ 0.17$ 0.01
Net income attributable to Pfizer Inc. common shareholders (in dollars per share)$ 0.48[4]$ 0.11[4]$ 1.08[4]$ 0.66[4]
Weighted-average shares used to calculate earnings per common share:    
Basic (in shares)7,7708,0277,8778,045
Diluted (in shares)7,8108,0577,9258,079
Cash dividends paid per common share (in dollars per share)$ 0.20$ 0.18$ 0.60$ 0.54
[1]Exclusive of amortization of intangible assets, except as disclosed in Note 11B. Goodwill and Other Intangible Assets: Other Intangible Assets.
[2]From the beginning of our cost-reduction and transformation initiatives in 2005 through October 2, 2011, Employee termination costs represent the expected reduction of the workforce by approximately 57,800 employees, mainly in manufacturing and sales and research, of which approximately 41,000 employees have been terminated as of October 2, 2011. Employee termination costs are generally recorded when the actions are probable and estimable and include accrued severance benefits, pension and postretirement benefits, many of which may be paid out during periods after termination. Asset impairments primarily include charges to write down property, plant and equipment to fair value. Other primarily includes costs to exit certain assets and activities. The restructuring charges in 2011 are associated with the following: · For the three months ended October 2, 2011, Primary Care operating segment ($473 million), Specialty Care and Oncology operating segment ($186 million), Established Products and Emerging Markets operating segment ($65 million), Animal Health and Consumer Healthcare operating segment ($30 million), Nutrition operating segment ($2 million), research and development operations ($47 million income), manufacturing operations ($47 million) and Corporate ($153 million). · For the nine months ended October 2, 2011, Primary Care operating segment ($606 million), Specialty Care and Oncology operating segment ($228 million), Established Products and Emerging Markets operating segment ($80 million), Animal Health and Consumer Healthcare operating segment ($44 million), Nutrition operating segment ($4 million), research and development operations ($426 million), manufacturing operations ($203 million) and Corporate ($288 million). The restructuring charges in 2010 are associated with the following: · For the three months ended October 3, 2010, Primary Care operating segment ($14 million), Specialty Care and Oncology operating segment ($53 million), Established Products and Emerging Markets operating segment ($14 million), Nutrition operating segment ($1 million), research and development operations ($17 million), manufacturing operations ($161 million) and Corporate ($8 million). · For the nine months ended October 3, 2010, Primary Care operating segment ($1 million), Specialty Care and Oncology operating segment ($99 million), Established Products and Emerging Markets operating segment ($23 million), Animal Health and Consumer Healthcare operating segment ($33 million), Nutrition operating segment ($12 million income), research and development operations ($239 million), manufacturing operations ($970 million) and Corporate ($74 million).
[3]Income from continuing operations before provision for taxes on income.
[4]EPS amounts may not add due to rounding.