CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 28, 2025

Sep. 29, 2024

Sep. 28, 2025

Sep. 29, 2024

Alliance revenues

$ 2,298

$ 1,900

$ 6,684

$ 6,140

Total revenues

16,654

17,702

45,022

45,864

Costs and expenses:

Cost of sales

^[1]

4,172

5,263

10,795

11,942

Selling, informational and administrative expenses

^[1]

3,186

3,244

9,632

10,456

Research and development expenses

^[1]

2,546

2,598

7,231

7,787

Acquired in-process research and development expenses

1,390

1,401

Amortization of intangible assets

1,223

1,312

3,644

3,927

Restructuring charges and certain acquisition-related costs

286

313

945

1,669

Other (income)/deductions––net

517

243

2,210

2,030

Income from continuing operations before provision/(benefit) for taxes on income

^[2]

3,334

4,715

9,162

8,033

Provision/(benefit) for taxes on income

(216)

234

(264)

393

Income from continuing operations

3,550

4,481

9,427

7,640

Discontinued operations––net of tax

(8)

Net income before allocation to noncontrolling interests

3,550

4,473

9,452

7,644

Less: Net income attributable to noncontrolling interests

Net income attributable to Pfizer Inc. common shareholders

$ 3,541

$ 4,465

$ 9,419

$ 7,621

Earnings per common share––basic:

Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)

$ 0.62

$ 0.79

$ 1.66

$ 1.35

Discontinued operations––net of tax (in dollars per share)

Net income attributable to Pfizer Inc. common shareholders (in dollars per share)

0.62

0.79

1.66

1.35

Earnings per common share––diluted:

Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)

0.62

0.79

1.65

1.34

Discontinued operations––net of tax (in dollars per share)

Net income attributable to Pfizer Inc. common shareholders (in dollars per share)

$ 0.62

$ 0.78

$ 1.65

$ 1.34

Weighted-average shares--basic (in shares)

5,685

5,667

5,682

5,663

Weighted-average shares--diluted (in shares)

5,714

5,705

5,710

5,699

Product [Member]

Revenues

$ 13,920

$ 15,417

$ 37,168

$ 38,731

Royalty [Member]

Revenues

$ 436

$ 384

$ 1,170

$ 992

[1]

Exclusive of amortization of intangible assets.

[2]

Income from continuing operations before provision/(benefit) for taxes on income. Effective in the third quarter of 2025, certain costs for corporate affairs, which were previously reported in the operating results of corporate enabling functions, are reported in the operating results of our Biopharma reportable segment. In connection with this reporting change, we reclassified costs of approximately $74 million in the first six months of 2025, $50 million in the third quarter of 2024 and $132 million in the first nine months of 2024 from Other business activities to Biopharma to conform to the current period presentation.

PFIZER INC 10-Q