Attached files
| file | filename |
|---|---|
| 10-Q - PFIZER INC. 10-Q - PFIZER INC | a6285704.htm |
| EX-3 - EXHIBIT 3 - PFIZER INC | a6285704ex3.htm |
| EX-10.1 - EXHIBIT 10.1 - PFIZER INC | a6285704ex10_1.htm |
| EXCEL - IDEA: XBRL DOCUMENT - PFIZER INC | Financial_Report.xls |
| EX-15 - EXHIBIT 15 - PFIZER INC | a6285704ex15.htm |
| EX-32.2 - EXHIBIT 32.2 - PFIZER INC | a6285704ex32-2.htm |
| EX-31.1 - EXHIBIT 31.1 - PFIZER INC | a6285704ex31-1.htm |
| EX-32.1 - EXHIBIT 32.1 - PFIZER INC | a6285704ex32-1.htm |
| EX-31.2 - EXHIBIT 31.2 - PFIZER INC | a6285704ex31-2.htm |
Exhibit 12
PFIZER INC. AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three
Months
Ended
April 4,
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Year Ended December 31,
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(in millions, except ratios)
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2010
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2009
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2008
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2007
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2006
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2005
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Determination of earnings:
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Income from continuing operations
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before provision for taxes on income,
noncontrolling interests and
cumulative effect of a change in
accounting principles
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$ | 3,179 | $ | 10,827 | $ | 9,694 | $ | 9,278 | $ | 13,028 | $ | 10,800 | ||||||||||||
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Less:
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Noncontrolling interests
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9 | 9 | 23 | 42 | 12 | 12 | ||||||||||||||||||
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Income attributable to Pfizer Inc.
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3,170 | 10,818 | 9,671 | 9,236 | 13,016 | 10,788 | ||||||||||||||||||
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Add:
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Fixed charges
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553 | 1,361 | 647 | 541 | 642 | 622 | ||||||||||||||||||
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Total earnings as defined
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$ | 3,723 | $ | 12,179 | $ | 10,318 | $ | 9,777 | $ | 13,658 | $ | 11,410 | ||||||||||||
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Fixed charges:
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Interest expense(a)
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$ | 522 | $ | 1,233 | $ | 516 | $ | 397 | $ | 488 | $ | 471 | ||||||||||||
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Preferred stock dividend(b)
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1 | 7 | 8 | 11 | 14 | 14 | ||||||||||||||||||
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Rents(c)
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30 | 121 | 123 | 133 | 140 | 137 | ||||||||||||||||||
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Fixed charges
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553 | 1,361 | 647 | 541 | 642 | 622 | ||||||||||||||||||
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Capitalized interest
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9 | 34 | 46 | 43 | 29 | 17 | ||||||||||||||||||
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Total fixed charges
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$ | 562 | $ | 1,395 | $ | 693 | $ | 584 | $ | 671 | $ | 639 | ||||||||||||
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Ratio of earnings to fixed charges
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6.6 | 8.7 | 14.9 | 16.7 | 20.4 | 17.9 | ||||||||||||||||||
All financial information reflects the following as discontinued operations for 2006 and 2005: the Company’s former consumer healthcare business, and certain European generics business.
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(a)
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Interest expense includes amortization of debt premium, discount and expenses. Interest expense does not include interest related to uncertain tax positions of $92 million for the first three months of 2010; $337 million for 2009; $333 million for 2008; $331 million for 2007; $200 million for 2006; and $203 million for 2005.
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(b)
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Preferred stock dividends are from our Series A convertible perpetual preferred stock held by an Employee Stock Ownership Plan assumed in connection with our acquisition of Pharmacia in 2003.
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(c)
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Rents included in the computation consist of one-third of rental expense, which we believe to be a conservative estimate of an interest factor in our leases, which are not material.
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