Pfizer 2013 Annual Report Download - page 56

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Consolidated Statements of Income
Pfizer Inc. and Subsidiary Companies
2013 Financial Report
55
Year Ended December 31,
(MILLIONS, EXCEPT PER COMMON SHARE DATA) 2013 2012 2011
Revenues $51,584 $54,657 $61,035
Costs and expenses:
Cost of sales(a) 9,586 9,821 12,500
Selling, informational and administrative expenses(a) 14,355 15,171 17,581
Research and development expenses(a) 6,678 7,482 8,681
Amortization of intangible assets 4,599 5,109 5,465
Restructuring charges and certain acquisition-related costs 1,182 1,810 2,841
Other (income)/deductions––net (532)4,022 2,486
Income from continuing operations before provision for taxes on income 15,716 11,242 11,481
Provision for taxes on income 4,306 2,221 3,621
Income from continuing operations 11,410 9,021 7,860
Discontinued operations:
Income from discontinued operations––net of tax 308 794 885
Gain on disposal of discontinued operations––net of tax 10,354 4,783 1,304
Discontinued operations––net of tax 10,662 5,577 2,189
Net income before allocation to noncontrolling interests 22,072 14,598 10,049
Less: Net income attributable to noncontrolling interests 69 28 40
Net income attributable to Pfizer Inc. $22,003 $14,570 $10,009
Earnings per common share––basic:
Income from continuing operations attributable to Pfizer Inc. common shareholders $1.67 $1.21 $1.00
Discontinued operations––net of tax 1.56 0.75 0.28
Net income attributable to Pfizer Inc. common shareholders $3.23 $1.96 $1.28
Earnings per common share––diluted:
Income from continuing operations attributable to Pfizer Inc. common shareholders $1.65 $1.20 $0.99
Discontinued operations––net of tax 1.54 0.74 0.28
Net income attributable to Pfizer Inc. common shareholders $3.19 $1.94 $1.27
Weighted-average shares––basic 6,813 7,442 7,817
Weighted-average shares––diluted 6,895 7,508 7,870
Cash dividends paid per common share $0.96 $0.88 $0.80
(a) Exclusive of amortization of intangible assets, except as disclosed in Note 1K. Basis of Presentation and 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.