v2.3.0.11
Segment, Product and Geographic Area Information (Tables)
6 Months Ended
Jul. 03, 2011
Schedule of Segment Reporting Information by Segment [Text Block]
Certain information by operating segment follows:
   
Revenues
   
R&D Expenses
   
Earnings(a)
 
(millions of dollars)
 
July 3,
2011
   
July 4,
2010
   
July 3,
2011
   
July 4,
2010
   
July 3,
2011
   
July 4,
2010
 
Three Months Ended:
                                   
Primary Care
  $ 5,870     $ 5,923     $ 304     $ 413     $ 3,811     $ 4,054  
Specialty Care and Oncology
    4,038       4,118       375       377       2,586       2,729  
Established Products and Emerging Markets
    4,732       4,980       79       65       2,475       2,924  
Animal Health and Consumer Healthcare
    1,776       1,571       105       97       514       482  
Total reportable segments
    16,416       16,592       863       952       9,386       10,189  
Nutrition and other business activities(b)
    568       540       868       849       (759 )     (728 )
Reconciling Items:
                                               
Corporate(c)
    ––       ––       328       375       (1,647 )     (1,654 )
Purchase accounting adjustments(d)
    ––       ––       ––       5       (1,736 )     (2,100 )
Acquisition-related costs(e)
    ––       ––       ––       ––       (595 )     (1,101 )
Certain significant items(f)
    ––       ––       178       ––       (658 )     (95 )
Other unallocated(g)
    ––       ––       ––       ––       (309 )     (585 )
    $ 16,984     $ 17,132     $ 2,237     $ 2,181     $ 3,682     $ 3,926  
Six Months Ended:
                                               
Primary Care
  $ 11,311     $ 11,789     $ 627     $ 775     $ 7,357     $ 8,137  
Specialty Care and Oncology
    8,276       8,002       722       741       5,459       5,390  
Established Products and Emerging Markets
    9,277       9,736       135       97       4,965       5,916  
Animal Health and Consumer Healthcare
    3,503       3,080       207       203       1,003       879  
Total reportable segments
    32,367       32,607       1,691       1,816       18,784       20,322  
Nutrition and other business activities(b)
    1,119       1,101       1,724       1,769       (1,481 )     (1,521 )
Reconciling Items:
                                               
Corporate(c)
    ––       ––       661       782       (3,307 )     (3,533 )
Purchase accounting adjustments(d)
    ––       ––       ––       15       (3,521 )     (4,939 )
Acquisition-related costs(e)
    ––       ––       4       20       (1,170 )     (1,900 )
Certain significant items(f)
    ––       ––       248       ––       (1,866 )     (278 )
Other unallocated(g)
    ––       ––       ––       ––       (639 )     (1,076 )
    $ 33,486     $ 33,708     $ 4,328     $ 4,402     $ 6,800     $ 7,075  
(a)
Income from continuing operations before provision for taxes on income.
(b)
Other business activities includes the revenues and operating results of Pfizer CentreSource, our contract manufacturing and bulk pharmaceutical chemical sales operation, and the research and development costs managed by our Worldwide Research and Development organization and our Pfizer Medical organization.
(c)
Corporate includes, among other things, administration expenses, interest income/(expense), certain performance-based and all share-based compensation expenses.
(d)
Significant impacts of purchase accounting include charges related to the fair value adjustments to inventory, intangible assets and property, plant and equipment.
(e)
Acquisition-related costs can include costs associated with acquiring businesses and, integrating and restructuring acquired businesses, such as transaction costs, integration costs, restructuring charges and additional depreciation associated with asset restructuring (see Note 5. Costs Associated with Cost-Reduction and Productivity Initiatives and Acquisition Activity for additional information).
(f)
Certain significant items are substantive, unusual items that, either as a result of their nature or size, we would not expect to occur as part of our normal business on a regular basis. Such items primarily include restructuring charges and implementation costs associated with our cost-reduction and productivity initiatives that are not associated with an acquisition, the impact of certain tax and/or legal settlements and certain asset impairments.

 
For the second quarter of 2011, certain significant items related to (a) R&D expenses, representing implementation costs and additional depreciation––asset restructuring associated with our cost-reduction and productivity initiatives that are not associated with an acquisition and (b) earnings, including: (i) restructuring charges and implementation costs associated with our cost-reduction and productivity initiatives that are not associated with an acquisition of $256 million, (ii) charges for certain legal matters of $53 million, (iii) certain asset impairment charges of $332 million and (iv) other charges of $17 million (see Note 5. Costs Associated with Cost-Reduction and Productivity Initiatives and Acquisition Activity and Note 6. Other (Income)/Deductions––Net for additional information).

 
For the second quarter of 2010, certain significant items related to earnings included: (i) asset impairment charges of $200 million and (ii) other income of $105 million.

 
For the first six months of 2011, certain significant items related to (a) R&D expenses, representing implementation costs and additional depreciation––asset restructuring associated with our cost-reduction and productivity initiatives that are not associated with an acquisition and (b) earnings, including: (i) restructuring charges and implementation costs associated with our cost-reduction and productivity initiatives that are not associated with an acquisition of $828 million, (ii) charges for certain legal matters of $525 million, (iii) certain asset impairment charges of $489 million and (iv) other charges of $24 million (see Note 5. Costs Associated with Cost-Reduction and Productivity Initiatives and Acquisition Activity and Note 6. Other (Income)/Deductions––Net for additional information).
 
 
For the first six months of 2010, certain significant items included: (i) asset impairment charges of $200 million, (ii) charges for certain legal matters of $142 million, and (iii) other income of $64 million.

(g)
Includes overhead expenses associated with our manufacturing and commercial operations not directly attributable to an operating segment.
Schedule of Revenue by Products [Text Block]
Significant product revenues follow:
   
Three Months Ended
   
Six Months Ended
 
(millions of dollars)
 
July 3,
2011
   
July 4,
2010
   
July 3,
2011
   
July 4,
2010
 
Revenues from biopharmaceutical products:
                       
Lipitor
  $ 2,591     $ 2,813     $ 4,976     $ 5,570  
Prevnar/Prevenar 13
    821       569       1,817       855  
Enbrel(a)
    914       808       1,784       1,610  
Lyrica
    908       762       1,734       1,485  
Celebrex
    622       604       1,213       1,174  
Viagra
    495       491       965       970  
Norvasc
    375       422       731       790  
Xalatan/Xalacom
    291       449       683       871  
Zyvox
    325       299       644       591  
Sutent
    296       255       572       514  
Premarin family
    255       260       490       516  
Geodon/Zeldox
    258       247       490       501  
Detrol/Detrol LA
    230       260       455       521  
Genotropin
    230       233       439       439  
Chantix/Champix
    190       170       389       359  
Vfend
    192       207       387       395  
Effexor XR
    168       621       372       1,337  
Zosyn/Tazocin
    162       230       341       494  
BeneFIX
    176       164       340       318  
Prevnar/Prevenar (7-valent)
    155       331       308       851  
Caduet
    143       126       285       261  
Zoloft
    146       144       281       264  
Pristiq
    147       113       276       223  
Medrol
    135       113       256       222  
Revatio
    130       122       253       236  
Zithromax/Zmax
    114       110       242       213  
ReFacto AF/Xyntha
    123       98       240       188  
Aromasin
    95       122       209       250  
Aricept(b)
    106       103       205       210  
Cardura
    101       110       197       217  
BMP2
    101       99       194       197  
Rapamune
    100       97       189       188  
Fragmin
    97       84       188       174  
Tygacil
    75       88       148       172  
Protonix
    44       174       103       332  
Alliance revenues(c)
    875       1,061       1,759       2,065  
All other biopharmaceutical products
    2,454       2,062       4,709       3,954  
Total revenues from biopharmaceutical products
    14,640       15,021       28,864       29,527  
Revenues from other products:
                               
Animal Health
    1,055       893       2,037       1,739  
Consumer Healthcare
    721       678       1,466       1,341  
Nutrition
    493       476       963       934  
Pfizer CentreSource
    75       64       156       167  
Total revenues
  $ 16,984     $ 17,132     $ 33,486     $ 33,708  
(a)
Outside the U.S. and Canada.
(b)
Represents direct sales under license agreement with Eisai Co., Ltd.
(c)
Enbrel (in the U.S. and Canada), Aricept, Exforge, Rebif and Spiriva.
Schedule of Revenues by Geographic Area [Text Block]
Revenues by geographic area follow:
   
Three Months Ended
   
Six Months Ended
 
(millions of dollars)
 
July 3,
2011
   
July 4,
2010
   
% Change
   
July 3,
2011
   
July 4,
2010
   
% Change
 
                                     
Revenues
                                   
United States
  $ 6,700     $ 7,333       (9 )   $ 13,724     $ 14,598       (6 )
Developed Europe(a)
    4,265       4,056       5       8,149       8,317       (2 )
Developed Rest of World(b)
    2,673       2,693       (1 )     5,219       4,995       4  
Emerging Markets(c)
    3,346       3,050       10       6,394       5,798       10  
Total Revenues
  $ 16,984     $ 17,132       (1 )   $ 33,486     $ 33,708       (1 )
(a)
Developed Europe region includes the following markets: Western Europe and the Scandinavian countries.
(b)
Developed Rest of World region includes the following markets: Australia, Canada, Japan, New Zealand and South Korea.
(c)
Emerging Markets region includes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Middle East, Africa, Central and Eastern Europe and Turkey.