Pfizer Inc.

NYSE-PFE

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	3,551	2,903	2,973	411	4,481	31
Net Income Before Allocation to Noncontrolling Interests
Discontinued Operations-Net of Tax
Income from Discontinued Operations-Net of Tax
Depreciation & Amortization	1,662	1,625	1,618	1,791	1,755	1,731
Depreciation and Amortization
Share-Based Compensation Expense	201	203	170	177	274	206
Share-Based Compensation Expense
Other Adjustments	-775	-324	-508	1,415	-676	-214
Asset Write-Offs and Impairments
Foreign Currency Gain Related to Venezuela
Loss on Sale of HIS Net Assets
TCJA Impact
Gain on Completion of Consumer Healthcare JV Transaction, Net of Cash Conveyed
Deferred Taxes
Benefit Plan Contributions in Excess of Expense/Income
Inventory Write-Offs and Related Charges Associated with COVID-19 Products
Other Adjustments, Net
Income from Discontinued Operations-Net of Tax
Changes in Trade Receivables	—	—	—	-109	-54.5	—
Trade Accounts Receivable
Changes in Inventories	—	—	—	-854	-427	—
Change in Inventories
Changes in Accounts Payable	—	—	—	-1,023	-511.5	—
Trade Accounts Payable
Changes in Income Taxes Payable	—	—	—	-1,345	-672.5	—
Other Tax Accounts, Net
Changes in Other Operating Activities	-36	-4,989	-1,919	6,257	1,011.5	-3,535
Change in Other Assets
Other Liabilities
Other Changes in Assets and Liabilities, Net of Acquisitions and Divestitures
Net Cash Provided by Operating Activities from Discontinued Operations
Cash from Operating Activities	4,603	-582	2,335	6,721	6,714	-1,781
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-602	-618	-564	-917	-651	-637
Purchases of Property, Plant and Equipment
Purchases of Intangible Assets	—	—	—	—	—	—
Acquisitions of Intangible Assets
Purchases of Investments	-4,352	-3,214	-2,957	-6,281	-2,670	-530
Purchases of Short-Term Investments
Purchases of Long-Term Investments
Proceeds from Sale of Investments	2,512	10,947.5	6,496	5,563	3,032.5	7,531.5
Proceeds from Redemptions/Sales of Short-Term Investments
Proceeds from Redemptions/Sales of Long-Term Investments
Proceeds from Sales of Investment in Haleon
Net Proceeds from Redemptions/Sales of Short-Term Investments with Original Maturities of Three Months or Less
Payments for Business Acquisitions	—	—	—	—	—	—
Acquisitions of Businesses, Net of Cash Acquired
Other Investing Activities	-569	1,172	-3,552	502	-884	4,707
Dividend Received from the Consumer Healthcare JV
Other Investing Activities, Net
Net Cash Provided by Investing Activities from Discontinued Operations
Net Proceeds from Redemptions/Sales of Short-Term Investments with Original Maturities of Three Months or Less
Cash from Investing Activities	-2,430	3,951	3,274	-1,623	-2,057	4,600
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	—	—	—	732	2,161	4,570
Proceeds from Short-Term Borrowings
Repayments of Short-Term Debt	6	-668	-2,434	-4,196.5	-4,411	-3,586
Payments on Short-Term Borrowings
Net Proceeds from Short-Term Borrowings with Original Maturities of Three Months or Less
Net Issuance / (Repayments) of Short-Term Debt	6	-668	-2,434	-3,464.5	-2,250	984
Issuance of Long-Term Debt	—	3,687	—	—	—	—
Proceeds from Issuance of Long-Term Debt
Repayments of Long-Term Debt	—	-3,750	—	—	—	-1,000
Payments on Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	—	-63	—	—	—	-1,000
Issuance of Common Shares	—	—	—	—	—	—
Proceeds from Exercise of Stock Options
Repurchases of Common Shares	—	—	—	—	—	—
Purchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	—	—	—	—	—	—
Common Share Dividends Paid	-2,444	-2,445	-2,437	-2,380	-2,380	-2,380
Cash Dividends Paid
Other Financing Activities	-32	-538	-742	-758.5	-1,495	875
Other Financing Activities, Net
Net Cash Provided by Financing Activities from Discontinued Operations
Net Proceeds from Short-Term Borrowings with Original Maturities of Three Months or Less
Cash from Financing Activities	-2,477	-3,196	-5,227	-5,114	-4,636	-2,459
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	4,001	-1,200	1,771	5,804	6,063	-2,418
NOPAT	3,550	2,903	2,974	411	4,482	30
Levered Free Cash Flow	4,571	-1,803	-332	854.5	2,719.5	-2,416
Unlevered Free Cash Flow	4,574	-1,079	2,109	4,320	4,986.5	-2,411
Net Change in Cash	-304	173	382	-16	21	360