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Notes to Consolidated Financial Statements
Pfizer Inc. and Subsidiary Companies
2013 Financial Report
85
maturities. As of December 31, 2012, the differences between the estimated fair values and carrying values of these receivables were not
significant.
There were no significant impairments of financial assets recognized in any period presented.
B. Investments in Debt Securities
The following table provides the contractual maturities of the available-for-sale and held-to-maturity debt securities:
Years
Over 1 Over 5 December 31,
2013
(MILLIONS OF DOLLARS) Within 1 to 5 to 10 Over 10 Total
Available-for-sale debt securities
Western European, Scandinavian and other government
debt(a) $ 10,253 $ 2,380 $ — $ — $ 12,633
Corporate debt(b) 3,997 4,822 1,236 302 10,357
Reverse repurchase agreements(c) 3,519 — — — 3,519
Federal Home Loan Mortgage Corporation and Federal
National Mortgage Association asset-backed securities — 2,593 10 303 2,906
Western European, Scandinavian and other government
agency debt(a) 1,686 453 —— 2,139
Supranational debt(a) 1,006 1,009 — — 2,015
Government National Mortgage Association and other U.S.
government guaranteed asset-backed securities 705 159 —41 905
U.S. government debt 185 222 18 — 425
Held-to-maturity debt securities
Western European, Scandinavian and other government
debt(a) 5,909 — — — 5,909
Western European, Scandinavian and other government
agency debt, certificates of deposit and other(a) 3,113 117 —— 3,230
Total debt securities $ 30,373 $ 11,755 $ 1,264 $ 646 $ 44,038
(a) All issued by above-investment-grade governments, government agencies or supranational entities, as applicable.
(b) Largely issued by above-investment-grade institutions in the financial services sector.
(c) Involving U.S. securities.
C. Short-Term Borrowings
Short-term borrowings include amounts for commercial paper of $3.0 billion and $2.7 billion as of December 31, 2013 and December 31,
2012, respectively. The weighted-average effective interest rate on short-term borrowings outstanding was 1.7% as of December 31, 2013 and
1.6% as of December 31, 2012.