Pfizer 2009 Annual Report Download - page 48

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Consolidated Statements of Income
Pfizer Inc. and Subsidiary Companies
YEAR ENDED DECEMBER 31,
(MILLIONS, EXCEPT PER COMMON SHARE DATA) 2009 2008 2007
Revenues $50,009 $48,296 $48,418
Costs and expenses:
Cost of sales(a) 8,888 8,112 11,239
Selling, informational and administrative expenses(a) 14,875 14,537 15,626
Research and development expenses(a) 7,845 7,945 8,089
Amortization of intangible assets 2,877 2,668 3,128
Acquisition-related in-process research and development charges 68 633 283
Restructuring charges and certain acquisition-related costs 4,337 2,675 2,534
Other (income)/deductions—net 292 2,032 (1,759)
Income from continuing operations before provision for taxes on income 10,827 9,694 9,278
Provision for taxes on income 2,197 1,645 1,023
Income from continuing operations 8,630 8,049 8,255
Discontinued operations—net of tax 14 78 (69)
Net income before allocation to noncontrolling interests 8,644 8,127 8,186
Less: Net income attributable to noncontrolling interests 923 42
Net income attributable to Pfizer Inc. $ 8,635 $ 8,104 $ 8,144
Earnings per common share—basic
Income from continuing operations attributable to Pfizer Inc. common shareholders $ 1.23 $ 1.19 $ 1.19
Discontinued operations—net of tax —0.01 (0.01)
Net income attributable to Pfizer Inc. common shareholders $ 1.23 $ 1.20 $ 1.18
Earnings per common share—diluted
Income from continuing operations attributable to Pfizer Inc. common shareholders $ 1.23 $ 1.19 $ 1.18
Discontinued operations—net of tax —0.01 (0.01)
Net income attributable to Pfizer Inc. common shareholders $ 1.23 $ 1.20 $ 1.17
Weighted-average shares—basic 7,007 6,727 6,917
Weighted-average shares—diluted 7,045 6,750 6,939
(a) Exclusive of amortization of intangible assets except as disclosed in Note 1L. Significant Accounting Policies: Amortization of Intangible Assets,
Depreciation and Certain Long-Lived Assets.
See Notes to Consolidated Financial Statements, which are an integral part of these statements.
46 2009 Financial Report