Using the attached financial statements and selected footnotes from the 2022 annual report of
Pfizer, answer the following questions.
1. Did Pfizer acquire any short-term investment securities in fiscal 2022? Did they sell any short-term investment securities? If so, how much did they pay and receive, respectively?
2. Did Pfizer make any acquisitions in fiscal 2022? If so, how much cash (net) did they pay?
3. What was the carrying value of Pfizer’s available-for-sale securities on December 31, 2022?
What type of securities are these (debt/equity) and what is the largest investment in the portfolio of these securities?
4. a) By how much has the fair value of the available-for-sale debt securities held by Pfizer at
December 31, 2022 increased or decreased since they were originally purchased?
b) What is the pre-tax net unrealized losses incurred on available-for-sale debt securities during fiscal 2022?
5. What was the net Net (gains)/losses recognized during the period on equity securities sold during the period? Where is this amount recognized in the Income statement?
6. By how much did equity investment securities valued at fair value that Pfizer owned through December 31, 2022 change in value during fiscal 2022?
7. What effect, if any, did Pfizer’s investment in Haleon/Consumer Healthcare JV have on reported earnings in fiscal year 2022?
8. How much dividend did Pfizer receive from the Healthcare JV in fiscal 2022? What would lead to the amount of cash that Pfizer received from its unconsolidated affiliated companies to differ from the amount reported for unconsolidated affiliated companies on the income statement?
9. What entry would Pfizer have made on October 5, 2022 to record the acquisition of GBT?
(Hint: this entry would be on Pfizer’s stand-alone books.)
10. What is the amount of goodwill Pfizer recognized on the acquisition of GBT? What is your best estimate of the net fair market value of separately identifiable assets and liabilities? Consolidated Statements of Cash Flows
Pfizer Inc. and Subsidiary Companies
(a) See Note 3A.
(s)See Note 2C Pfizer Inc. and Subsidiary Companies Consolidated Statements of Comprehensive Income
Pfizer Inc. and Subsidiary Companies
(a Reclassfied into Other (income)/deductions-net and Cost of sales. See Note 7E,
a. Reclassified into Other (income)/deductions-net
