Pfizer 2005 Annual Report Download - page 70

2005 Financial Report 69
Notes to Consolidated Financial Statements
Pfizer Inc and Subsidiary Companies
The following tables present segment, geographic and revenue information:
Segment
FOR/AS OF THE YEAR ENDED DEC. 31,
(MILLIONS OF DOLLARS) 2005 2004 2003
Revenues
Human Health $44,284 $46,133 $39,425
Consumer Healthcare 3,878 3,516 2,949
Animal Health 2,206 1,953 1,598
Corporate/Other(a) 930 914 764
Total revenues $51,298 $52,516 $44,736
Segment profit/(loss)(b)
Human Health $19,594 $20,927 $16,719
Consumer Healthcare 698 667 613
Animal Health 405 353 247
Corporate/Other(a) (9,163)(c) (7,940)(d) (14,333)(e)
Total profit/(loss) $11,534 $14,007 $3,246
Identifiable assets
Human Health $74,406 $81,651 $80,952
Consumer Healthcare 6,060 5,886 5,602
Animal Health 2,098 1,992 1,870
Corporate/Other(a) 35,001 33,549 28,351
Total identifiable assets $117,565 $123,078 $116,775
Property, plant and equipment additions(f)
Human Health $1,755 $2,268 $2,127
Consumer Healthcare 136 76 98
Animal Health 61 95 57
Corporate/Other(a) 154 162 347
Total property, plant and equipment additions $2,106 $2,601 $2,629
Depreciation and amortization(f)
Human Health $1,901 $1,490 $1,427
Consumer Healthcare 57 64 70
Animal Health 59 57 58
Corporate/Other(a) 3,559(g) 3,482(g) 2,470(g)
Total depreciation and amortization $5,576 $5,093 $4,025
(a) Corporate/Other includes our other businesses, which include the
manufacturing of empty soft-gelatin capsules, contract
manufacturing and bulk pharmaceutical chemicals.
Corporate/Other also includes interest income/(expense), corporate
expenses (e.g., corporate administration costs), other
income/(expense) (e.g., realized gains and losses attributable to
our investments in debt and equity securities), certain
performance-based compensation expenses not allocated to the
business segments, significant impacts of purchase accounting for
acquisitions, certain milestone payments, merger-related costs,
intangible asset impairments and costs related to our new
productivity initiative.
(b) Segment profit/(loss) equals income from continuing operations
before provision for taxes on income, minority interests and the
cumulative effect of a change in accounting principles and
before certain costs, such as significant impacts of purchase
accounting for acquisitions, merger-related costs and costs
related to our new productivity initiative. This methodology is
utilized by management to evaluate each business.
(c) In 2005, Corporate/Other includes (i) significant impacts of
purchase accounting for acquisitions of $5.0 billion, including
acquired IPR&D, incremental intangible asset amortization and
other charges, (ii) merger-related costs of $943 million, (iii)
restructuring charges and implementation costs associated with
the Adapting to Scale initiative of $780 million, and (iv) costs
associated with the suspension of Bextra’s sales and marketing
of $1.2 billion.
(d) In 2004, Corporate/Other includes (i) significant impacts of purchase
accounting for acquisitions of $4.4 billion, including acquired IPR&D,
incremental intangible asset amortization and other charges, and
the sale of acquired inventory written up to fair value, (ii) merger-
related costs of $1.2 billion, (iii) an impairment charge of $691
million for Depo-Provera, (iv) a $369 million charge for litigation-
related matters, (v) contingent income earned from the 2003 sale of
a product-in-development of $100 million, (vi) the operating results
of a divested legacy Pharmacia research facility of $64 million, and
(vii) other legacy Pharmacia intangible asset impairments of $11
million.
(e) In 2003, Corporate/Other includes (i) significant impacts of purchase
accounting for acquisitions of $10.1 billion including acquired
IPR&D, the sale of acquired inventory written up to fair value and
incremental intangible asset amortization and other charges, (ii)
merger-related costs of $1.1 billion, and (iii) litigation charges of
$1.4 billion.
(f) Certain production facilities are shared by various segments.
Property, plant and equipment, as well as capital additions and
depreciation, are allocated based on physical production.
Corporate assets are primarily cash, short-term investments, long-
term loans and investments and assets held for sale.
(g) In 2005, 2004 and 2003, Corporate/Other includes charges
associated with purchase accounting.